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Financial Liberalisation in Southern Africa: An Assessment


  • Obert Nyawata
  • Graham Bird


In the early 1990s many Southern African economies embarked on financial liberalisation. Although it is too soon to carry out sophisticated econometric analysis of this change in policy, the available empirical evidence may be inspected to see whether it lends support to advocates of financial liberalisation. In this article we explore the avenues through which financial liberalisation might be expected to exert an influence. Consistent with much of the existing literature, we discover that a degree of agnosticism is warranted. Financial liberalisation is no panacea and will not improve economic performance unless accompanied by sound economic policies. It remains difficult to isolate the effects of financial liberalisation from the data available. Copyright 2004 Overseas Development Institute.

Suggested Citation

  • Obert Nyawata & Graham Bird, 2004. "Financial Liberalisation in Southern Africa: An Assessment," Development Policy Review, Overseas Development Institute, vol. 22, pages 287-307, May.
  • Handle: RePEc:bla:devpol:v:22:y:2004:i::p:287-307

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    References listed on IDEAS

    1. Joshua C. Gellers, 2016. "Crowdsourcing global governance: sustainable development goals, civil society, and the pursuit of democratic legitimacy," International Environmental Agreements: Politics, Law and Economics, Springer, vol. 16(3), pages 415-432, June.
    2. Emily Boyd & Natasha Grist & Sirkku Juhola & Valerie Nelson, 2009. "Exploring Development Futures in a Changing Climate: Frontiers for Development Policy and Practice," Development Policy Review, Overseas Development Institute, vol. 27(6), pages 659-674, November.
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    4. William Easterly, 2002. "The cartel of good intentions: The problem of bureaucracy in foreign aid," Journal of Economic Policy Reform, Taylor & Francis Journals, vol. 5(4), pages 223-250.
    5. José Antonio Ocampo & Natalie Gómez-Arteaga, 2016. "Accountability in International Governance and the 2030 Development Agenda," Global Policy, London School of Economics and Political Science, vol. 7(3), pages 305-314, September.
    6. Gert Spaargaren & Peter Oosterveer, 2010. "Citizen-Consumers as Agents of Change in Globalizing Modernity: The Case of Sustainable Consumption," Sustainability, MDPI, Open Access Journal, vol. 2(7), pages 1-22, June.
    7. Robin Davies & Jonathan Pickering, 2015. "Making Development Co-operation Fit for the Future: A Survey of Partner Countries," OECD Development Co-operation Working Papers 20, OECD Publishing.
    8. Goran Hyden, 2008. "After the Paris Declaration: Taking on the Issue of Power," Development Policy Review, Overseas Development Institute, vol. 26(3), pages 259-274, May.
    9. Deepa Narayan & Robert Chambers & Meera K. Shah & Patti Petesch, 2000. "Voices of the Poor : Crying Out for Change," World Bank Publications, The World Bank, number 13848.
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    Cited by:

    1. van der Berg, Servaas & Burger, Ronelle & Louw, Megan, 2007. "Post-Apartheid South Africa: Poverty and Distribution Trends in an Era of Globalization," WIDER Working Paper Series 057, World Institute for Development Economic Research (UNU-WIDER).
    2. Abdullahi Ahmed & Andrew Hulten, 2014. "Financial Globalization in Botswana and Nigeria: A Critique of the Thresholds Paradigm," The Review of Black Political Economy, Springer;National Economic Association, vol. 41(2), pages 177-203, June.

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