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Books > Business & Economics > Economics > Macroeconomics
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Financing Africa - Through the Crisis and Beyond (Paperback, New)
Loot Price: R1,165
Discovery Miles 11 650
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Financing Africa - Through the Crisis and Beyond (Paperback, New)
Expected to ship within 18 - 22 working days
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Financing Africa takes stock of Africa s financial systems in light
of recent changes in the global financial system including the
greater risk aversion of international investors, a shift in
economic and financial powers towards emerging markets and the
regulatory reform debate - and the increasing role of technology.
Using a wider and more detailed array of data than previous
publications, we observe a trend towards financial deepening, more
stability and more inclusion leading up to the crisis; serious
challenges, however, continue, including limited access to
financial services, focus on short-term contracts and hidden
fragility, related to weak regulatory frameworks, undue government
interference and governance deficiencies. Our policy analysis
therefore focuses on (i) expanding outreach, (ii) fostering
long-term finance and (iii) improving regulation and supervision.
We identify the positive role of innovation and competition, a
stronger focus on non-traditional financial service providers, and
more emphasis on demand-side constraints as priority areas for
policy actions. Specifically, competition from new players outside
the banking system, including telecomm companies can increase
outreach with technological innovation that changes the economics
of retail finance. Moving beyond national stock exchanges that are
not sustainable in most African countries towards regional
solutions and over-the-counter trades can help foster long-term
finance, as can addressing governance challenges in contractual
savings institutions, including life insurance companies and
pension funds. Finally, there is a need to look beyond supply-side
constraints towards users of financial services, focusing more on
financial literacy of households and firms, but also consumer
protection. In formulating policy messages, we carefully
distinguish between different country groupings, differentiating
among others between low- and middle-income and small and larger
economies, with a special focus on resource-based economies and
post-conflict countries. This book reaches out to both policy
makers concerned about a more inclusive and effective financial
system and other stakeholders, including practitioners and
development partners. With this book we aim to contribute to the
on-going financial sector debate on Africa, with the ultimate goal
of faster economic development and poverty reduction."
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