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Is Financial Liberalization a Flop? An Africa Assessment
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Location:
Distrito Federal, 70076900, Brazil
Contact person:
International Poverty Centre
Organization:
International Poverty Centre
Website:
http://www.undp-povertycentre.org/pub/IPCOnePager48.pdf
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Language(s):
English
Media:
Article or paper
Fax:
+ 55 61 21055001
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Area of Focus:
Economic Development, Poverty and Hunger, Social Enterprise and Economic Development
Phone:
+ 55 61 2105 5000
Last updated:
February 11, 2008
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Description:
We are pleased to announce the ‘pre-Carnaval’ publication of IPC One Pager #48, “Is Financial Liberalization a Flop? An Africa Assessment”. The authors, John Serieux and Terry McKinley, use regression analysis to evaluate the impact of financial liberalization on 19 sub-Saharan African countries during the period 1965-1985. Comparing liberalization’s performance to that of the earlier policies of directed credit, they find that despite being much heralded, liberalization has led to only marginal improvements in a few areas. The authors conclude by noting the need for deeper structural changes, probably going beyond financial-sector policies, in order to substantially boost domestic savings and investment in sub-Saharan Africa.
Available at: http://www.undp-povertycentre.org/pub/IPCOnePager48.pdf
This One Pager is part of the ongoing IPC Research Programme on “Economic Policies, MDGs and Poverty”. On the general theme of resource mobilization in sub-Saharan Africa, please refer to IPC One Pager # 42, “Why Have Tax Reforms Hampered MDG Financing?” and IPC One Pager #34, “Why Is Africa Constrained from Spending ODA?”.
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Permalink:
http://www.idealist.org/if/i/en/av/Materials/83958-48/c
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