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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Building durable rural financial markets in Africa
Author:Adams, Dale W.ISNI
Year:1992
Periodical:African Review of Money, Finance and Banking - Supplement to 'Savings and Development'
Issue:1
Pages:5-15
Language:English
Geographic term:Africa
Subjects:savings
agricultural credit
External link:https://www.jstor.org/stable/23027447
Abstract:The author evaluates two schools of thought on how success should be measured in financial markets - the traditional credit-project view and the newer market-performance view - and then goes on to discuss the important but limited contributions financial markets are able to make to development. Reasons for the unsatisfactory performance of rural financial markets in many low-income countries are then presented. A review of rural finance programmes that either were successful, or were flops, suggests the following lessons for possible application in Africa: avoid loan subsidies and targeting, mobilize deposits, sustain positive real rates of interest, avoid concessionary discount lines, reduce transaction costs, and emulate informal finance. The author concludes that credit activities have been overemphasized and that more attention ought to be given to developing durable financial markets through deposit mobilization. Bibliogr., notes, ref., sum. also in French.
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