The fragmentation in African financial markets and its persistence despite reforms to liberalize those markets have been difficult to explain. This paper reports findings from surveys of formal and informal institutions and their clients in Ghana, Malawi, Nigeria, and Tanzania to test hypotheses...

The book draws together contributions from leading experts across a range of disciplines including economics, law, politics and governance, public management and business management. The authors begin with an extensive overview of the issues of regulation and competition in developing countries,...