Financing Africa : Through the Crisis and Beyond.
Title:
Financing Africa : Through the Crisis and Beyond.
Author:
Beck, Thorsten.
ISBN:
9780821387986
Personal Author:
Physical Description:
1 online resource (347 pages)
Contents:
Half Title Page -- Title Page -- Copyright -- Contents -- Foreword -- Acknowledgments -- Abbreviations -- 1. Financing Africa: Setting the Stage -- Introduction -- Financing Africa, the Book -- An Analytical Framework -- The Main Messages and a Caveat -- Financial Sector Development: Why Do We Care? -- Time for New Solutions to Old Problems -- The Outline of the Book -- 2 Landscaping African Finance -- Introduction -- The Effect of the Crisis -- Africa's Financial Systems in International Comparison -- Explaining Financial (Under)Development in Africa -- The Firm and Household Usage of Financial Services -- Conclusions -- 3 Expanding Financial Systems -- Introduction -- What Do We Know about Access to Finance? -- Broadening Finance: A Reality Check -- Landscaping the Providers: How to Get to the Frontier -- Demand-Side Constraints -- Technology: The New Silver Bullet? -- Pushing Out the Frontier: The Role of Governments and Donors -- The Role of Government: Looking beyond Institution Building -- From Agricultural Credit to Rural Finance -- SME Finance: Continuing Challenges -- Conclusions -- 4. Lengthening Financial Contracts -- Introduction -- Africa's Long-Term Financing Gap -- Optimizing the Current Possibilities for Expanding Long-Term Finance -- Tapping International Markets -- The Changing Global Environment: Tales of Dragons and Elephants -- Pushing toward the Frontier and Beyond: A Long-Term Agenda with Tricky Shortcuts -- Conclusions -- 5. Safeguarding Financial Systems -- Introduction -- Stability: We Have Come a Long Way -- Bank Regulation and Supervision: New Challenges in a Changing Environment -- Looking beyond Banks: How to Regulate Which Segments of the Financial System -- Focusing on Users: Consumer Protection -- Conclusions -- 6. All Financial Sector Policy Is Local -- Introduction.
The Activist Reform Agenda Revisited: Larger, More Efficient, and Stable Financial Markets -- The Politics of Financial Sector Reform -- The Stakeholders -- Redefine the Role of Government with the Necessary Safeguards -- One Size Does Not Fit All -- Conclusions -- References -- Index -- Back Cover.
Abstract:
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.
Local Note:
Electronic reproduction. Ann Arbor, Michigan : ProQuest Ebook Central, 2017. Available via World Wide Web. Access may be limited to ProQuest Ebook Central affiliated libraries.
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Electronic Access:
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