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Financial Liberalisation in Southern Africa: An Assessment

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  • Obert Nyawata
  • Graham Bird

Abstract

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.

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  • 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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    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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