A study of both informal and formal financial markets in Ghana, Malawi, Nigeria and Tanzania, Financial Market Fragmentation and Reform in Sub-Saharan Africa, shows that informal institutions use specialized methods to serve broad segments of the population that lack access to banks. Although...

This study investigates three issues concerning the role of indigenous entrepreneurs in the transition from a state-led development strategy to a more market-oriented approach with the private sector taking the lead: 1) the effects of liberalizing the policy regime on the conditions for micro...