|Title||Making Finance Work for Africa|
|Author||Honohan, P.; Beck, T.;|
|Content Language||English (en)|
|Date Of Publication||2007|
|Description||Making Finance Work for Africa seeks to present a coherent and consistent policy approach that addresses African priorities and can work in African conditions.
The low level of private sector investment is both a cause of Africa’s growth shortfall and a consequence of low confidence engendered by the repeated setbacks in most countries in the region. Escape from these conditions can hardly be imagined without a central role for finance. Policies that strengthen finance will also address these core development gaps. By providing an alternative to government patronage as the basis for entry into business activities, a strong, independent financial system can transform the business environment.
Financial development can also generate a lock-in effect that raises the commitment of national elites to growth-oriented policies.
Making finance work for Africa is thus one of the most central and far-reaching of development goals for the continent.|
|Publisher||The World Bank|
|Number of Pages||264 pp.|