This paper provides a comprehensive review of financial development in sub-Saharan Africa and discusses how financial development can boost economic growth and make it more inclusive and less volatile. Building on a chapter in the April 2016 Regional Economic Outlook for sub-Saharan Africa, this paper provides an up-to-date panorama of various facets of financial development and how it has evolved over the past few decades. It draws on both country-specific and cross-country work undertaken in the African Department of the IMF, and also undertakes in-depth empirical analysis on issues such as the macroeconomic impact of financial development and its drivers. The analysis highlights how the region is performing compared with its peers – in areas where the region is doing particularly well such as theadoption of mobile banking technologies, as well as in areas where it is falling short. Finally, the paper also provides a detailed set of policy recommendations.
- ISBN13 9781475532401
- Publish Date 30 March 2017
- Publish Status Active
- Publish Country US
- Imprint International Monetary Fund (IMF)
- Format Paperback
- Pages 79
- Language English