- Mauro Mecagni, Daniela Marchettini, and Rodolfo Maino
- Published Date:
- September 2015
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The sample includes all LICs and MICs with available data over the period 1995–2013. LICs and MICs are based on the 2014 World Bank definition.
M1 refers to monetary aggregate including cash in circulation and current account deposits in banks while M2 consists of M1 plus time deposits.
Kenya has the highest share of adults with a mobile money account, at 58 percent, followed by Somalia, Tanzania, and Uganda with about 35 percent. In southern Africa, penetration of mobile money accounts is also relatively high at 14 percent, but just 2 percent of adults reported having a mobile money account only.
The analysis in this section excludes cross-border claims to Liberia (international shipping center).
The subsidiary model may reflect the regulators’ wish to minimize contagion risks. But while requiring separately capitalized subsidiaries reduces the extent of possible contagion, it does not eliminate it—subsidiaries may well have exposures to their parents or to other bank or nonbank entities within the same group.
The experience of several central and eastern European countries with large foreign banks during the global financial crisis is instructive. The greater the asymmetry in economic size between home and host, other things equal, the greater the likelihood that an overall strategy for a bank will not take account of the host country, and the more likely that financial stability will be jeopardized in the host country if problems emerge in the home country.
Like the constant use of high reserve requirements.