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The allocative efficiency of the formal versus the informal financial sector

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  • Robert Lensink

Abstract

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.

Suggested Citation

  • Robert Lensink, 1996. "The allocative efficiency of the formal versus the informal financial sector," Applied Economics Letters, Taylor & Francis Journals, vol. 3(3), pages 163-165.
    • Handle: RePEc:taf:apeclt:v:3:y:1996:i:3:p:163-165
    DOI: 10.1080/135048596356582
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    Cited by:

    1. Babajide Fowowe, 2011. "Financial Sector Reforms And Private Investment In Sub-Saharan African Countries," Journal of Economic Development, Chung-Ang Unviersity, Department of Economics, vol. 36(3), pages 79-97, September.
    2. Mr. Yifei Huang & Mr. Raju J Singh, 2011. "Financial Deepening, Property Rights and Poverty: Evidence From Sub-Saharan Africa," IMF Working Papers 2011/196, International Monetary Fund.
    3. Mitoko, Jeremiah, 2021. "Economics of Microcredit-From current crisis to new possibilities," MPRA Paper 108392, University Library of Munich, Germany.
    4. Philip Arestis & Asena Caner, 2004. "Financial Liberalization and Poverty: Channels of Influence," Economics Working Paper Archive wp_411, Levy Economics Institute.
    5. Singh,Raju & Huang,Yifei, 2016. "Financial channels, property rights, and poverty : a Sub-Saharan African perspective," Policy Research Working Paper Series 7559, The World Bank.
    6. Daniel Sakyi & Micheal Kofi Boachie & Mustapha Immurana, 2016. "Does Financial Development Drive Private Investment in Ghana?," Economies, MDPI, vol. 4(4), pages 1-12, December.

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