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Banking in Sub-Saharan Africa: What Went Wrong?

Author/Editor: Daumont, Roland | Le Gall, Françoise | Leroux, François
Authorized for Distribution: April 1, 2004
Electronic Access: Free Full Text (PDF file size is 409KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

Summary: The purpose of this paper is to study the origins of banking crises in sub-Saharan Africa, drawing upon the experience of ten countries during the period 1985-95. It examines, in particular, which factors were the most important sources of these crises. The conclusions underscore that the banking crises examined did not represent an entirely special case-a number of factors identified in the general literature, including macroeconomic shocks, were highly relevant-but note that several of their features were nonetheless specific to this part of the world. These banking crises were the very prototype of endemic crises associated with heavy government intervention in the banking system. In this regard, the paper analyzes the complex role of the government in banking in sub-Saharan Africa, the many channels through which governments intervened, and the economic and institutional environment in which the banks operated.
 
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Series: Working Paper No. 04/55
Subject(s): Banking systems | Africa | Financial crisis | Intervention | Bank regulations
Author's keyword(s): Banking Crises | Africa
 
English  
    Published:   April 1, 2004        
    ISBN/ISSN:   1934-7073   Format:   Paper
    Stock No:   WPIEA0552004   Pages:   48
    Price:   US$15.00 (Academic Rate: US$15.00 )
       
     
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