INCORPORATING FINANCE INTO A MODIFIED SUBSECTOR FRAMEWORK - THE FERTILIZER SUBSECTOR IN THE GAMBIA

The subsector analytical framework as currently employed is usually li mited to examining a subsector in a single market, product or input. T he framework often excludes an explicit analysis of financial markets due to the assumptions that they function in a competitive environment or are considered less important than other features of the subsector . These assumptions are inappropriate in most developing countries whe re financial markets are imperfect and access to financial services is rationed. This paper proposes a modified subsector framework that inc orporates the financial markets affecting a given subsector to more fu lly explain operational efficiency and market technology. The framewor k is used to study the fertilizer subsector in The Gambia.