Institutional and Procedural Innovation in Savings Mobilization
Journal of the Ghana Institute of Bankers, Vol. 1, No. 1, pp. 6-18, 1985
Posted: 8 Feb 2006
At the moment when Less Developed Countries (henceforth referred as LDCs) need an increasing larger volume of resources to foster their economic growth, foreign borrowing proves to be more difficult and, on the other hand, generates dependence from lender countries. In the face of these changes in the international scene LDCs authorities have become aware that domestic resources, and expecially household savings, still largely unexploited of under-exploited, are of vital importance in the coming decades. But household savings are to be mobilized. The paper explores, therefore, financial innovations that have proved succesful in promoting household savings mobilization and concentrates on some significant institutional and procedural innovations. It concludes suggesting that models borrowed from other institutional context, however, have to be adapted to legal, cultural and economic domestic conditions of the country where are to be implanted.
Suggested Citation: Suggested Citation