The political economy of financial reform in Africa

Mkandawire, Thandika

doi:10.1002/(sici)1099-1328(199905/06)11:3<321::aid-jid594>3.3.co;2-m

Cited by 4 publications

(7 citation statements)

References 14 publications

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“…Both class‐based and post‐ structural theories use the concept of extraversion (Amin 1976; Bayart 2000). The term alludes to a peculiarly strong external orientation within African post‐ colonial states; external agencies have had an exceptional influence over African states to the extent that African elites are often looking ‘outwards’ to external forces rather than ‘inwards’ to domestic society (Mkandawire 1999; cf. Moore 2004).…”

Section: Theories Of the African Statementioning

confidence: 99%

The World Bank, Governance and Theories of Political Action in Africa

Harrison

2005

The British Journal of Politics and International Relations

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This article considers the World Bank as a political thinker. This involves an interpretation of the values, methodologies, and theoretical references contained within the Bank's governance documentation. Generally, the Bank steers away from a serious engagement with the nature of states, or the dynamics of reform execution, even in its more detailed policy documents in reform areas such as administrative reform. But, by looking at the World Bank's involvement in African states, we can understand the ways in which the World Bank works with certain expectations concerning how reforms will work. The article critically analyses the Bank's 'political vision' by comparing it with prominent theories of African politics. The article concludes that the World Bank's governance agenda misses three pivotal aspects of African politics: the unity of political and economic power, the extreme openness of African states to external pressures, and the salience of historically-embedded cultural and political relations. These three points directly raise important questions about the prospects of good governance reforms in Africa, and the involvement of the Bank therein.

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Section: Theories Of the African Statementioning

confidence: 99%

The World Bank, Governance and Theories of Political Action in Africa

Harrison

2005

The British Journal of Politics and International Relations

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“…Commercial banks have been undergoing tremendous technological and managerial changes due to globalization and dynamic environment. Though the financial system in Kenya had an advantage in operating in closed and regulated environment, it went through a sea change during the nineties (Mkandawire, T. 1999).…”

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confidence: 99%

Efficiency Measurement of Kenyan Commercial Banks

Miencha¹,

Selvam²,

Vinayagamoorthi³

et al. 2015

MJSS

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“…However, the success of this strategy rests on a critical assumption: that the banking sector will allocate the additional credit in such a way as to support productive investments. In many African countries, the banking sector is characterized by excess liquidity and a shortage of stable long-term resources for extending credit to finance long-term investment (Sacerdoti, 2005;Mkandawire, 1999;Steele et al, 1997). It is unclear that injecting more liquidity into these banking systems will lead to more investment.…”

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confidence: 99%

Is There a Case for Formal Inflation Targeting in Sub-Saharan Africa?

Ndikumana

Heintz

2010

SSRN Journal

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This paper examines the question of whether inflation targeting monetary policy is an appropriate framework for sub-Saharan African countries. The paper presents an overview of inflation targeting, reviews the justification for the regime, and summarizes some major critiques. Monetary policy responses to inflation depend on the source of inflationary pressures. Therefore, the determinants of inflation in African countries are investigated, using dynamic panel data, and the implications for inflation targeting are discussed. These issues are examined in greater detail for the two African countries which have formally adopted inflation targeting, South Africa and Ghana. The analysis is placed in the context of the global economic crisis. The paper concludes with a discussion of alternative approaches to monetary policies and the institutional constraints that would need to be addressed to allow central banks to play a stronger developmental role in sub-Saharan African countries.

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The political economy of financial reform in Africa

Cited by 4 publications

References 14 publications

The World Bank, Governance and Theories of Political Action in Africa

The World Bank, Governance and Theories of Political Action in Africa

Efficiency Measurement of Kenyan Commercial Banks

Is There a Case for Formal Inflation Targeting in Sub-Saharan Africa?

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