Hugon, Philippe <br/><br/>
Profitability of the Banking Sector and Failures of Development Financing. The Case of CEMAC 

 -  2007.<br/>							 
<br/><br/> 28 
<br/><br/> Developing countries, especially those in Africa are characterized by "economic underdevelopment" linked to "financial underdevelopment". After a long period of state interventionism, financial policies were liberalized but the results remain limited. The financial sector was reformed and overcashed banks are profitable, but the highly segmented financial system cannot finance development. This article presents debate about financial liberalization and linkages between economic and financial underdevelopment with special reference to CEMAC, the economic and monetary community comprising six central African states that are members of zone franc.