- Copyright Page
- List of Figures
- List of Tables
- List of Abbreviations
- List of Contributors
- Banking: A Decade on from the Global Financial Crisis
- The Roles of Banks in Financial Systems
- Commercial Banking and Shadow Banking: The Accelerating Integration of Banks and Markets and its Implications for Regulation
- Corporate Complexity and Systemic Risk: A Progress Report
- Corporate Governance and Culture in Banking
- Private Information and Risk Management in Banking
- Creation and Regulation of Bank Liquidity
- The Performance of Financial Institutions Modeling, Evidence, and some Policy Implications
- Technological Change and Financial Innovation in Banking: Some Implications for FinTech
- Community Banking Institutions: Commercial Banks, Savings Banks,Cooperative Banks, and Credit Unions
- Islamic banking: A Review of the Empirical Literature and Future Research Directions
- Can We Improve the Impact of Microfinance?: A Survey of the Recent Literature and Potential Avenues for Success
- Small Business Lending: The Roles of Technology and Regulationfrom Pre-crisis to Crisis to Recovery
- Residential Mortgages
- Shadow Banking
- Modern Central Banking
- Lender of Last Resort: A New Role for the Old Instrument
- Bank Bailouts and Bail-Ins
- Bank Runs and Moral Hazard: A Review of Deposit Insurance
- Bank Capital Requirements after the Financial Crisis
- Market Discipline in Regulation: Pre and Post Crisis
- Competition in the Banking Sector
- Behavioral Economics, Financial Literacy, and Consumers’ Financial Decisions
- Systemic Risk in Banking after the Great Financial Crisis
- Hardy Perennials: Banking Crises Around the World
- Bank Failures, The Great Depression, and Other “Contagious” Events
- Banking Globalization: Cross-border Entry, Complexity,and Systemic Risk
- Banking and Real Economic Activity: Foregone Conclusions and Open Challenges
- Banking in the United States
- Banking in Europe: Integration, Reform, and the Road to a Banking Union
- Banking in Japan: A Post-global Financial Crisis Perspective
- Banking in Africa
- Banking in China
- Banking in the Transition Countries of Central, Southern, and Eastern Europe and the Former Soviet Union
- Banking in Latin America: Developments and Prospects
- Banking in Australia and New Zealand—Geographic Proximity, Market Concentration, and Banking Integration
Abstract and Keywords
This chapter takes stock of the current state of banking systems across Sub-Saharan Africa and discusses recent developments, including innovations that might help Africa leapfrog more traditional banking models. Using an array of different data, the chapter documents that African banking systems are shallow but stable. African banks are well capitalized and over-liquid, but lend less to the private sector than banks in non-African developing countries. African enterprises and households are less likely to use financial services than their peers in other developing countries, although there has been significant progress over the past decade. The chapter also describes a number of financial innovations across the continent that can help overcome different barriers to financial inclusion and have helped to expand the bankable and the banked population. The chapter ends with discussing current challenges for policymakers and academics, including the lack of (data on) long-term finance and the supervisory challenges stemming from increasing cross-border banking in the region.
Thorsten Beck is Professor of banking and finance at Cass Business School in London. He is also a research fellow of the Centre for Economic Policy Research (CEPR) and the CESifo. He was Professor of Economics from 2008 to 2014 at Tilburg University and the founding chair of the European Banking Center from 2008 to 2013. Previously he worked in the research department of the World Bank and has also worked as consultant for, among others, the European Central Bank, the Bank of England, the BIS, the IMF, the European Commission, and the German Development Corporation. His research, academic publications, and operational work have focused on two major questions: What is the relationship between finance and economic development? What policies are needed to build a sound and effective financial system? Recently, he has concentrated on access to financial services, including SME finance, as well as on the design of regulatory and bank resolution frameworks. He holds a Ph.D from the University of Virginia and an M.A. from the University of Tübingen in Germany.
Robert Cull is acting research manager and Lead Economist in the Finance and Private Sector Development Team of the World Bank’s Development Research Group. His most recent research is on the performance of microfinance institutions, African financial development, Chinese financial development and firm performance, and the effects of the global financial crisis on foreign banks in developing economies. He has published numerous articles in peer-reviewed academic journals including the Economic Journal, Journal of Development Economics, Journal of Economic Perspectives, Journal of Financial Economics, Journal of Law and Economics, and the Journal of Money, Credit, and Banking. The author or editor of multiple books, his most recent co-edited book, Banking the World: Empirical Foundations of Financial Inclusion was published by MIT Press in January, 2013. He is also co-editor of the Interest Bearing Notes, a bi-monthly newsletter reporting on financial and private sector research.
Patricio Valenzuela is an Assistant Professor of Finance and Economics at University of Chile and a research fellow at the Millennium Institute for Research in Market Imperfections and Public Policy (MIPP). His primary areas of research are corporate finance, financial economics, international finance, and development economics. He has published in several peer-reviewed academic journals, including the Review of Finance, Journal of International Money and Finance, Journal of Banking and Finance and Economic Inquiry. He has also contributed chapters of several books on developing financial systems, including Handbook of the Economics of Finance, Towards a Better Global Economy: Policy Implications for Citizens in the 21st Century, and African Successes: Modernization and Development.
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