Achieving Financial Stability and Growth in Africa

ISBN-13: 9780367875657 / Angielski / Miękka / 2019 / 186 str.

Stephany Griffith-Jones; Ricardo Gottschalk

Opis

This book explores how the financial system should be regulated and structured to achieve the twin goals of inclusive growth and financial stability, with a focus on African low-income countries (LICs). The subject and content of this book is original in that it attempts to draw on the lessons and radical rethinking on the financial sector in de

Recenzje

'Packs a lot in 186 pages, is essential reading for specialists, and an excellent source of reference that should be on every central bank library shelf." — John Chown, Central Banking Journal

‘Ahead of the 2008 crisis many economists assumed that financial deepening – including increased private credit as a percent of GDP – was always positive for economic growth. We now know that there can be too much finance and too much private credit. But good finance is still crucial to economic development, and low- income countries must use the lessons of the global financial crisis to help identify which forms of financial development are most beneficial. This book will play an important role in that debate, combining sound empirical analysis, informative case studies and thoughtful synthesis of the overall insights and implications.’ — Adair Turner, former chair of the UK Financial Services Authority and author of Between Debt and the Devil

‘This is a compelling factual study about a critical dilemma for policy making in LICs – delicately balancing the trinity of financial inclusion, financial stability and growth agendas. This is even more challenging in the face of globalisation, inadequacies within domestic jurisdictions, ongoing reforms to global regulatory architecture and new rules like Anti Money Laundering that pose unintended consequences.’ — Louis Kasekende PhD, Deputy Governor, Bank of Uganda

‘This book is very timely - we know that for many low income countries financial regulation is at a crossroads, as policy makers strive to find a promising way forward, after the global financial crisis (2007-8). Of course, some recent studies have tried to re-examine financial regulation post-2008. But this book is exceptional: it offers a nice twist, ‘financial regulation for stability and growth’; it is meticulously researc

Spis treści

Introduction 1. A financial sector to support development in low income countries Stephany Griffith-Jones with Ewa Karwowski and Florence Dafe 2. Financial regulation, stability and growth in low-income countries: a review of the evidence and agenda for research Stephen Spratt 3. Literature survey on capital account management in low-income countries Isabella Massa 4. Assessing Capacity Constraints for Effective Financial Regulation in SSA Ricardo Gottschalk 5. Financial Regulation in Kenya: Balancing Inclusive Growth with Financial Stability Francis M. Mwega 6. Financial regulation in Ghana: balancing inclusive growth with financial stability Charles Ackah and Johnson P. Asiamah 7. Financial regulation in Lics: balancing inclusive growth with financial stability – the Nigerian case Olu Ajakaiye and Sheriffdeen Tella 8. Financial Inclusion, Regulation and Inclusive Growth in Ethiopia Getnet Alemu 9. Conclusions Stephany Griffith-Jones, Ricardo Gottschalk and Stephan Spratt

O autorze

Stephany Griffith-Jones is Associate Fellow at ODI, Financial Markets Director at IPD, Columbia University and Emeritus at IDS, Sussex, where she was Professorial Fellow for a long time.

Ricardo Gottschalk is an Economic Affairs Officer at the Division of Globalization and Development Strategies (GDS) of UNCTAD, Geneva, Switzerland.