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Financial Inclusion and Development in the CEMAC by Adrian Alter,Boriana Yontcheva Pdf
This paper examines financial inclusion and development in the CEMAC. We explore the level of financial inclusion in the CEMAC through a benchmarking exercise.We construct a measure of financial development gap and analyze its determinants. Using panel data regressions, we find that inflation, income, and natural resources explain most of the financial development level but that better financial sector governance and stronger economic governance are positively associated with financial sector development. Richer and poorer countries can be equally far from their expected financial development levels. Finally, we use a benchmarking exercise to identify countries that have successfully reduced the financial development gap and propose policy measures that CEMAC countries could use to boost financial inclusion.
Central African Economic and Monetary Community (CEMAC) by International Monetary Fund. African Dept. Pdf
This Selected Issues paper focuses on the need of improving liquidity management and the operational framework of monetary policy in Central African Economic and Monetary Community (CEMAC). Disconnected policy and lending rates reflect the ineffective interest rate channel of monetary policy transmission while the shallow domestic banking system and the underdeveloped financial markets induce weaknesses of both the credit and asset price channels. In the absence of an efficient interest rate channel, liquidity plays an important role in the conduct of monetary policy. The CEMAC economy is vulnerable to external shocks and its banking system potentially exposed to liquidity shocks. Successful monetary policy implementation requires a set of appropriate instruments to cope with various liquidity shocks. The origins of the surplus liquidity should be well known upfront and addressed with a suitable combination of measures, including foreign exchange, fiscal and financial system development policies. The paper recommends that the Bank of Central African States should investigate all the means to centralize and analyze relevant information for autonomous factors forecasts, including daily operations of Treasuries and foreign exchange operations from its accounting system, as well as banknotes in circulation.
Transforming Africa by Dana T. Redford,Grietjie Verhoef Pdf
Transforming Africa: How Savings Groups Foster Financial Inclusion, Resilience and Economic Development presents in-depth empirical research into current day savings group activities across Africa, exploring savings groups through the lens of financial inclusion and reflecting on formal finance, economic and social outcomes.
Advanced Introduction to Financial Inclusion by Lensink, Robert,Hamilton, Calumn,Adjasi, Charles Pdf
Taking a detailed tour through the emerging economic field of financial inclusion, this timely book charts the subtle conceptual shifts that gave rise to the focus on inclusivity in development finance, and provides an overview of key concepts, issues, and empirical findings. Diving into the crucial interaction of financial inclusion with gender, further chapters present new conceptual frameworks for thinking about these interactions, as well as discussing the impacts of gendered financial exclusion on both economic and empowerment outcomes.
Inclusive Financial Development by Ahmad, Ahmad H.,Llewellyn, David T.,Murinde, Victor Pdf
Inclusive Financial Development provides theoretical and empirical analyses of the nature of financial inclusion. The contributing authors explore the impediments to inclusion that exist around the world, the macro and stability implications, and the regulation dimension.
Sustaining more Inclusive Growth in the Republic of Congo by Ms.Dalia Hakura,Adrian Alter,Matteo Ghilardi,Mr.Rodolfo Maino,Mr.Cameron McLoughlin,Mr.Maximilien Queyranne Pdf
The Republic of Congo has seen dramatic improvement in its debt situation since 2010, following debt relief through the IMF and World Bank Heavily Indebted Poor Countries/Multilateral Debt Relief Initiative. Large oil revenues have allowed the country to boost spending and increase foreign exchange reserves. Yet poverty and inequality remain comparatively high. This paper examines Congo’s challenge to manage its natural resource revenue and attain sustained inclusive growth.
Author : European Investment Bank Publisher : European Investment Bank Page : 297 pages File Size : 46,8 Mb Release : 2018-11-21 Category : Business & Economics ISBN : 9789286138485
Banking in Africa: Delivering on Financial Inclusion, Supporting Financial Stability by European Investment Bank Pdf
In its fourth edition, this report focuses on recent developments in Africa's banking sectors and the policy options for all stakeholders. The study of banking sectors across all African sub-regions includes the results of the EIB survey of banking groups operating in Africa. Three thematic chapters address challenges and opportunities for financing investment in Africa: Crowding out of private sector lending by public debt issuance The state of bank recovery and resolution laws in Africa Policy options on how to finance infrastructure development. The report finds that in many African banking markets, the last two years saw a pause in financial deepening. However, a rising share of banking groups report improving market conditions and plan a structural expansion of their operations in Africa and a continued push for new technologies.
Financial inclusion has become a major subject of interest among policymakers, researchers, and other financial sector stakeholders. Many countries, for example, have recently adopted explicit financial inclusion strategies with targets for financial inclusion. The interest reflects an increased recognition that financial inclusion can be a driver of economic growth and poverty alleviation, and that many individuals and firms are excluded unnecessarily from even basic financial services. About half of the worlds adult population more than 2.5 billion peoplehave no bank account is one powerful example. Barriers such as cost, travel distance, and amount of paperwork and requirements play an important role. Many of these barriers can be addressed by better policies. Despite the high interest, there are still important gaps in knowledge about financial inclusion, what drives it, and what policies affect it. And while recent years have seen some increases in financial inclusion, there is still much scope to reduce barriers to access. However, one of the challenges is that efforts to increase inclusion, if not implemented well, can backfire. Deeply ingrained social problems cannot be resolved purely with an infusion of debt. If not done properly, it can have the opposite effect, making poor borrowers increasingly dependent on debt, and even contributing to financial instability.Global Financial Development Report 2014: Financial Inclusion is a new report from the World Bank Group. It takes a step back and re-examines financial inclusion from the perspective of new global datasets and new evidence. It builds on a critical mass of new research and operational work produced by World Bank Group staff as well as outside researchers and contributors. The report, the second in this series, follows up on the inaugural issue, the Global Financial Development Report 2013: Rethinking the Role of the State in Finance (http: //www.worldbank.org/financialdevelopment). Accompanying the Global Financial Development Report 2014 is a vast body of underlying research and data. Among other things, this includes an expanded and updated version of the Global Financial Development Database, a dataset of over 70 financial system characteristics for 203 economies from 1960 to 2011, which is presented in the reports appendix
Financial Development in Sub-Saharan Africa by Mr.Montfort Mlachila,Ahmat Jidoud,Ms.Monique Newiak,Bozena Radzewicz-Bak,Ms.Misa Takebe Pdf
This paper discusses how sub-Saharan Africa’s financial sector developed in the past few decades, compared with other regions. Sub-Saharan African countries have made substantial progress in financial development over the past decade, but there is still considerable scope for further development, especially compared with other regions. Indeed, until a decade or so ago, the level of financial development in a large number of sub-Saharan African countries had actually regressed relative to the early 1980s. With the exception of the region’s middle-income countries, both financial market depth and institutional development are lower than in other developing regions. The region has led the world in innovative financial services based on mobile telephony, but there remains scope to increase financial inclusion further. The development of mobile telephone-based systems has helped to incorporate a large share of the population into the financial system, especially in East Africa. Pan-African banks have been a driver for homegrown financial development, but they also bring a number of challenges.
Financial Inclusion and Livelihood Transformation by Srimoyee Datta,Tarak Nath Sahu Pdf
This book explores the role and effect of Microfinance Institutions (MFIs) with different dimensions. It is being supported with strong empirical evidence into various parameters of MFIs directed towards inclusive finance and the transformation journey of livelihoods of its beneficiaries. It also incorporates empirical evidence with the perception of both beneficiaries and non-beneficiaries. Starting its journey toward the path of comprehending how MFIs make their footprint among the excluded population in the selected areas, it incorporates the different outcomes of MFI lending like credit utilisation patterns, income generation, and employability. As financial stability helps to break out the vicious cycle of poverty, this book emphasises the self-dependent element for the beneficiaries and their households. It addresses the important issue of the female counterparts in society. It shows how the MFIs work actively to generate female empowerment from multiple dimensions among the selected communities. It addresses key issues to consider for inclusive policy formulation, especially for backward communities in the backward areas and gives a realistic scenario of the MFI activities, their interactions with the respondents, the various outcomes, and areas for further developments, etc. This book is beneficial for academicians, researchers, and policymakers.
Central African Economic and Monetary Community (CEMAC) by International Monetary Fund. African Dept. Pdf
This Selected Issues paper focuses on the need of improving liquidity management and the operational framework of monetary policy in Central African Economic and Monetary Community (CEMAC). Disconnected policy and lending rates reflect the ineffective interest rate channel of monetary policy transmission while the shallow domestic banking system and the underdeveloped financial markets induce weaknesses of both the credit and asset price channels. In the absence of an efficient interest rate channel, liquidity plays an important role in the conduct of monetary policy. The CEMAC economy is vulnerable to external shocks and its banking system potentially exposed to liquidity shocks. Successful monetary policy implementation requires a set of appropriate instruments to cope with various liquidity shocks. The origins of the surplus liquidity should be well known upfront and addressed with a suitable combination of measures, including foreign exchange, fiscal and financial system development policies. The paper recommends that the Bank of Central African States should investigate all the means to centralize and analyze relevant information for autonomous factors forecasts, including daily operations of Treasuries and foreign exchange operations from its accounting system, as well as banknotes in circulation.
In its fifth edition, this report focuses on recent developments in Africa's banking sectors and the policy options for all stakeholders. The study of banking sectors across all African sub-regions includes the results of the EIB survey of banking groups operating in Africa. Three thematic chapters address challenges and opportunities for financing investment in Africa: - Investing sustainably in Africa's cities; - Mobilising agricultural value chain financing in Africa: why and how; - Remittances and financial sector development in Africa.
Developing Africa’s Financial Services by Dana T. Redford Pdf
Financial services are an essential element in powering entrepreneurial activity beyond resource extraction in Africa. This book examines the macro-trends and highlights inspiring success stories of entrepreneurial financial sector ventures that are making a lasting contribution to the economic development of various sub-Saharan African countries.
Monetary and Financial Systems in Africa by Aloysius Ajab Amin,Regina Nsang Tawah,Augustin Ntembe Pdf
This book provides an overview of the monetary and financial systems seen in Africa. The issues related to these systems are examined to help evaluate their effectiveness in fostering the development of African economies. Economic integration is extensively discussed to highlight variations between different parts of Africa and the specific challenges seen within certain regions. The impact of monetary unions, in particular the CFA franc zone, on economic activities is also explored. This book aims to outline how sustainable development can be achieved in Africa through well-developed financial and monetary institutions and policies. It will be relevant to students, academics and policy makers interested in African and development economics.
