6. Financial Sector Depth
5 parameters
Financial sectors the world over are still contending with the aftermath of the 2008 crisis which showed up deeply concerning systemic imbalances in the system. While the shock waves did not leave African countries unscathed, perhaps the fact that consumer credit tends not to be huge portions of their debt portfolios (otherwise a sign of a lack of sophistication of their finance industry, but in this instance a fortunate shortcoming) banks in Africa didn’t reel from the avalanche of critical blows that western banks suffered. Nonetheless, financial sector depth is crucial in estimating economy robustness, and there were structures put in place to ward off scenarios like the 2008 crisis, a popular one was the tightening of regulations that stipulated minimum liquid reserves banks have to hold.
All values are moving averages for the 5 years leading up to - and including - the reference year.
Sources of raw data: World Bank
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