Intro -- Contents -- I. INTRODUCTION -- II. REVIEW OF PREVIOUS STUDIES -- III. DATA AND SPECIFICATION -- IV. BASIC RESULTS -- V. SENSITIVITY CHECKS -- VI. CONNECTIONS WITH OTHER ASPECTS OF FINANCIAL DEVELOPMENT -- VII. THE COMPOSITION OF THE INVESTOR BASE -- VIII. CONCLUSIONS AND POLICY...

The paper assesses the effects of certain institutional factors on financial sector development in Sub- Saharan Africa (SSA). Data Envelopment Analysis (DEA) is applied to determine the extent to which these institutions affect the financial sector, and to suggest which institutions play a more...