Credit Growth in Sub-Saharan Africa
AbstractIn this paper, we analyze credit growth in Sub-Saharan Africa over the past decade focusing on the post-2002 rapid credit growth in select countries. We develop regression models of the fundamental determinants of bank credit and use them to examine whether they can fully explain developments in rapid credit growth countries. We then argue that rapid credit expansion, whether a manifestation of a credit boom or driven by fundamentals, can give rise to prudential and macroeconomic risks. We detail these risks and discuss the choice of policies to mitigate them. We conclude by evaluating the likely impact of the ongoing global recession and financial crisis on credit growth in Sub-Saharan Africa.
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Bibliographic InfoPaper provided by International Monetary Fund in its series IMF Working Papers with number 09/180.
Date of creation: 01 Aug 2009
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- Cho, Yoonyoung & Tien, Bienvenue N., 2014. "Sub-Saharan Africa's recent growth spurt : an analysis of the sources of growth," Policy Research Working Paper Series 6862, The World Bank.
- Tatum Blaise Pua Tan, 2012. "Determinants of Credit Growth and Interest Margins in the Philippines and Asia," IMF Working Papers 12/123, International Monetary Fund.
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