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African Indigenous Financial Institutions

The Case of Congo and Liberia

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  • © 2019

Overview

Authors:
  1. Julia Smith-Omomo

    1. Independent Researcher, Washington, DC, USA

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  • The research indicates thorough demand for financial services in African countries

  • Sheds a light on the missing question of post-conflict microfinance efficiency

  • Illuminates some of the problems faced by microfinance users in insecure environments

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Table of contents (10 chapters)

  1. Front Matter

    Pages i-xi
    Download chapter PDF

  2. Introduction

    • Julia Smith-Omomo
    Pages 1-6

  3. Certainty Premiums and Cognitive Loads

    • Julia Smith-Omomo
    Pages 7-24

  4. Monrovia Transfigured

    • Julia Smith-Omomo
    Pages 25-57

  5. Shadows Are Weaker

    • Julia Smith-Omomo
    Pages 59-90

  6. What’s War Got to Do With This?

    • Julia Smith-Omomo
    Pages 91-107

  7. Is Microfinance by Itself Transformative in Post-conflict Contexts?

    • Julia Smith-Omomo
    Pages 109-128

  8. Social-Behavioural Changes

    • Julia Smith-Omomo
    Pages 129-140

  9. Stress Limits and Sparse Networks

    • Julia Smith-Omomo
    Pages 141-151

  10. No Easy Answers

    • Julia Smith-Omomo
    Pages 153-165

  11. Correction to: Shadows Are Weaker

    • Julia Smith-Omomo
    Pages E1-E1

  12. Back Matter

    Pages 167-182
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Keywords

About this book

This book examines engagements with financial services in contexts of conflict. Using Liberia and the Democratic Republic of the Congo as case studies, it explores informal financial and business strategies and how these shift during conflict. Through a combination of regression analyses and panel data modeling with fixed effects, the project research indicates that conflict has a stronger effect on the nature of demand for credit and savings services than it has on the actual performance of financial institutions. In examining these patterns, the importance of networks and family becomes increasingly important—not just in the ways they are important to us as individuals, but as important determinants of post-war outcomes.




                                              
                                              






                                               



Reviews

“In this creative study, Julia Smith-Omomo reaches important conclusions… [the author] recommends helping link institutions to formal finance networks and strengthening their financial management practices. Read this book for its careful documentation, its thoughtful judgments, and its passion to bring about change.” (Ashoka Mody, Charles and Marie Robertson Visiting Professor in International Economic Policy, Princeton University, USA and Author of EuroTragedy, a Drama in Nine Acts)

“African Indigenous Financial Institutions is an important and timely book, revisiting and updating our understanding of the connections between economics, conflict and human behaviour.  It is a tome representing years of independent and exceptionally brave research, and bringing new and unique insights to the field.” (Alexandra Lewis, Lecturer in Education, Conflict and International Development, University College London, UK)

Authors and Affiliations

  • Independent Researcher, Washington, DC, USA

    Julia Smith-Omomo

About the author

Julia Smith-Omomo is an independent researcher in Washington DC, USA. Previously, she was Field Operations Director for Mavuno, an agricultural development NGO in the DRC. She has also been a subcontractor for the United States Department of Agriculture, a visiting student researcher at Princeton University, and a program officer with the International Organization for Migration’s Mission in Iraq.

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