The paper attempts to find out how far financial intermediation has progressed with economic growth in selected African countries and whether it has been instrumental in generating development. On an analytical plane, it is argued that while the aggregative financial policies may, at best, help...

Until 1984, the West African Monetary Union (WAMU) consisted of six West African countries- Benin, Burkina Faso, Ivory Coast, Niger, Senegal, and Togo. (Mali withdrew from the Union in 1961 and rejoined in 1984; it is therefore excluded from this analysis, which deals with a period when it was not a...