Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/63284
Authors: 
Nissanke, Machiko
Aryeetey, Ernest
Year of Publication: 
2006
Series/Report no.: 
Research Paper, UNU-WIDER, United Nations University (UNU) 2006/87
Abstract: 
The paper examines the source of financial market fragmentation in sub-Saharan Africa in the framework of institutional economics. Based on fieldwork data from Ghana, Malawi, Nigeria, and Tanzania, it analyses financial risk management, the transaction costs for loan screening and monitoring, and contract enforcement. It shows how, faced with various institutional constraints, the range of clientele selected by formal and informal lenders becomes both narrow and at the extreme market-ends. It evaluates the prevailing state of managing risks for market structure, and binding institutional constraints for market transformation and deepening in sub-Saharan Africa.
Subjects: 
financial markets
institutions
risk-cost analysis
sub-Saharan Africa
JEL: 
O16
O17
D49
R51
ISBN: 
9291908657
Document Type: 
Working Paper

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