Regulation Versus the Market for the Production of Accounting Information: A Review of the Theory in the Context of Sub-Saharan Economies

Abstract

The paper examines the plausibility of the arguments far and against regulating the production of accounting information The literature is reviewed and discussed in the context of Sub-Saharan Africa countries After a careful review of the debates and the contemporary theories of financial disclosures, it is argued that voluntary disclosure mechanisms cannot be used as policy instruments because of the absence of institutions. Two epilogues are provided first a general one and the second specific to Sub-Saharan economies.