Financial Sector Reforms in Algeria, Morocco, and Tunisia: A Preliminary Assessment

July 1, 1997

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary

This paper reviews and assesses the financial sector reforms in Algeria, Morocco and Tunisia. After a description of the financial sector before reforms, it explains the main features of the comprehensive reform process in each country. It also reviews the sequencing of reforms and discusses econometric evidence of the impact of the reforms on saving in each of the three countries. Subsequently, the paper sets out remaining issues to be addressed in the three countries, including a further strengthening of the banking system and development of financial instruments and markets.

Subject: Banking, Credit, Economic sectors, Financial markets, Financial regulation and supervision, Financial sector, Financial sector reform, Financial services, Money, Real interest rates, Stock markets

Keywords: Algeria, central bank, cost of capital, Credit, development bank, distorted market signal, Financial sector, Financial sector reform, government savings, interest rate, interest rate liberalization, Maghreb, market, market condition, market development, market financing, market participant, Morocco, Real interest rates, Stock markets, system of bank intermediation, Tunisia, world goods market, WP

Pages:
38
Volume:
1997
DOI:
https://doi.org/10.5089/9781451955170.001
Issue:
081
Series:
Working Paper No. 1997/081
Stock No:
WPIEA0811997
ISBN:
9781451955170
ISSN:
1018-5941

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