THE ROLE OF THE FINANCIAL SECTOR IN THE DEVELOPMENT AND GROWTH OF THE ECONOMY OF CAMEROON

Abstract

This paper on the role of the financial sector in the economy of Cameroon, points out the various institutions that make up the financial sector. The main purpose of the paper is to outline the usefulness of the financial sector and its various components in order to help in nationwide development. The paper starts with an introductory section, explaining the various components of the financial sector, it looks at the regulators of financial markets, it explains the role of the public and private sectors, it explains the place of the financial markets, stating the usefulness of the stock exchange market. It looks further into the functions of the stock exchange and the importance of the stock exchange in an economy. It goes further to look at the role played by public limited companies and suggesting ways of strengthening the Douala Stock Exchange and the role of government in building up a good functioning stock exchange. It concludes by looking at the functioning of the Douala Stock Exchange which is a white elephant used as a vehicle to waste state’s resources.