ABSTRACT
This chapter outlines the characteristics and structure of the financial system in each of our sample countries. In order to provide the context for our later discussion of financial efficiency, the opening section presents a general overview of macroeconomic performance, focusing on the savings-investment-growth nexus (section 3.1). Although sharing the common features described in section 2.7, the financial system of each sample country displays several distinct features. Sections 3.2-5 present the structure and operation of the formal and informal financial sectors in our case-study countries. Section 3.6 evaluates the evolution of financial policies and the nature of financial sector reforms undertaken in the sample countries, and section 3.7 summarizes the main conclusions.
