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Industrial Policy and Economic Transformation in Africa$
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Joseph Stiglitz and Akbar Noman

Print publication date: 2015

Print ISBN-13: 9780231175180

Published to Columbia Scholarship Online: May 2016

DOI: 10.7312/columbia/9780231175180.001.0001

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Can the Financial Sector Deliver Both Growth and Financial Stability in Sub-Saharan Africa?

Can the Financial Sector Deliver Both Growth and Financial Stability in Sub-Saharan Africa?

Chapter:
(p.197) Chapter 7 Can the Financial Sector Deliver Both Growth and Financial Stability in Sub-Saharan Africa?
Source:
Industrial Policy and Economic Transformation in Africa
Author(s):

Stephany Griffith-Jones

Ewa Karwowski

Publisher:
Columbia University Press
DOI:10.7312/columbia/9780231175180.003.0007

A pithy review of the recent literature on the relationship between finance and growth is followed by focusing on the financial sector in Africa. The chapter emphasizes the need to overcome the dearth of development finance in the region and to strengthen limited regulatory and supervisory capacity. The authors argue for caution and prudence in financial liberalization.

Keywords:   development banks, regulation, supervision, long-term finance

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