As efforts to harmonize policies globally intensify, developing countries increasingly face pressures to adopt international standards. Yet, we know little about the circumstances under which developing countries manage to circumvent such pressures, or about their strategies to maintain policy...

Under what conditions can government interventions in the financial sector be a successful tool to increase the financial resources available for productive investment in sub-Saharan Africa? This is the question which drives this paper. Historically and in line with welfare economic theory...