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Based on the experience of selected countries, this paper offers a critical presentation of the development of the microfinance sector in Africa. The paper supports the view that microfinance institutions, especially those engaged in full financial intermediation, complement effectively the...
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domestic investment and savings are highly and positively correlated, was examined for cointegration using an autoregressive … distributed lag bounds testing procedure. The results did not show a positive correlation between savings and investment. There … was essentially no relationship at level between savings and investment in all eight cases. Thirteen out of 16 structural …
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