An important reason for the disappointing effects of the financial reform programmes, as part of the structural adjustment programmes in sub-Saharan Africa, stems from the strong focus of the adjustment programmes on the formal banking sector. A financial reform programme which does not explicitly employ the knowledge of the informal financial sector may lead to a sub-optimal allocation of resources and hence may not improve the quality of investments.
|Pages (from-to)||163 - 165|
|Number of pages||3|
|Journal||Applied Economics Letters|
|Publication status||Published - Mar-1996|