TY  - JOUR
AU  - Cook,Lisa D.
TI  - Were the Nigerian Banking Reforms of 2005 A Success ... And for the Poor?
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 16890
PY  - 2011
Y2  - March 2011
UR  - http://www.nber.org/papers/w16890
L1  - http://www.nber.org/papers/w16890.pdf
N1  - Author contact info:
Lisa Cook
Department of Economics
Michigan State University
110 Marshall-Adams Hall
East Lansing, MI 48824
Tel: 5174327106
E-Mail: lisacook@msu.edu
M3  - presented at "African Development Successes Conference", July 18-20, 2010
AB  - The Nigerian banking system was in crisis for much of the 1990's and early 2000's.  The reforms of 2005 were ambitious in simultaneously attempting to address safety, soundness, and accessibility.  This paper uses published and new survey data through 2008 to investigate whether bank consolidation and other measures achieved their stated goals and whether they also enhanced development, efficiency, and profitability.  Following the reforms, banks are better capitalized, more efficient, and less involved in the public sector but not more profitable and accessible to the poor.   While there is greater supervision and less fragility, recorded distress was artificially low.  The improved macroeconomic environment also explains some of the variation in observed outcomes and likely enhanced the efficacy of reforms.
ER  -