• Ethnic Fractionalization, Governance and Loan Defaults in Africa 

    Adrianova, Svetlana; Baltagi, Badi H.; Demetriades, Panicos; Fielding, David
    We present a theoretical model of moral hazard and adverse selection in an imperfectly competitive loans market that is suitable for application to Africa. The model allows for variation in both the level of contract ...
  • Information, Institutions and Banking Sector Development in West Africa 

    Demetriades, Panicos; Fielding, David
    Using a new panel dataset for banks in eight West African countries, we explore the factors that exacerbate or alleviate excess liquidity, and the factors that promote or retard the rate of growth of banks’ assets. Loan ...