Africa S Development Crisis And The Role Of External Lending Institutions

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Africa S Development Crisis And The Role Of External Lending Institutions

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Author : Ugwumba Egbuta
language : en
Publisher:
Release Date : 2019-02-28

Africa S Development Crisis And The Role Of External Lending Institutions written by Ugwumba Egbuta and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-02-28 with categories.

Academic Paper from the year 2019 in the subject Economics - International Economic Relations, language: English, abstract: This work analyzes Africa's development crisis and the role of external lending institutions conerning the perspective in Nigeria. African countries came out of colonial rule with two major challenges related to achievement of sustainable development and unity in the continent. It decided to pursue unity which was a means to development. However, the prospects of development was inhibited or truncated by the outbreak of inter and intra-state conflicts that followed independence. To rebuild their economies, African countries resorted to borrowing from the Bretton Woods Institutions: the World Bank and the International Monetary Fund (IMF) and other international financial institutions. To this end, long and short-term loans were given to African leaders who either misapplied the facilities or could not cope with the conditionality associated with economic reform policies. It is in this light that this article interrogates the undercurrents of these conditions attached to the loans on Africa, with insights from the Nigerian experience. It unravels how the application of the loans and the reform policies complicated rather than addressing the developmental malaise that bedevilled post-colonial African states for which the loans were sought for in the first instance. The article further questions the rationale behind the acceptance of these loans by African leaders and why it has consistently favoured borrowing as a means of solving the continent's development challenges. It recommends, among other options, the evolvement of an alternative funding arrangement from within the continent devoid of external loan trappings. More importantly, having an effective tax system devoid of corruption, purposeful political leadership that will manage the financial sector will help the nation avert similar trend in future. Through these, resources will come

Financing Africa

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Author : Samuel Munzele Maimbo
language : en
Publisher: World Bank Publications
Release Date : 2011-09-07

Financing Africa written by Samuel Munzele Maimbo and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-09-07 with Business & Economics categories.

Financing Africa takes stock of Africa's financial systems in light of recent changes in the global financial system --including the greater risk aversion of international investors, a shift in economic and financial powers towards emerging markets and the regulatory reform debate - and the increasing role of technology. Using a wider and more detailed array of data than previous publications, we observe a trend towards financial deepening, more stability and more inclusion leading up to the crisis; serious challenges, however, continue, including limited access to financial services, focus on short-term contracts and hidden fragility, related to weak regulatory frameworks, undue government interference and governance deficiencies. Our policy analysis therefore focuses on (i) expanding outreach, (ii) fostering long-term finance and (iii) improving regulation and supervision. We identify the positive role of innovation and competition, a stronger focus on non-traditional financial service providers, and more emphasis on demand-side constraints as priority areas for policy actions. Specifically, competition from new players outside the banking system, including telecomm companies can increase outreach with technological innovation that changes the economics of retail finance. Moving beyond national stock exchanges that are not sustainable in most African countries towards regional solutions and over-the-counter trades can help foster long-term finance, as can addressing governance challenges in contractual savings institutions, including life insurance companies and pension funds. Finally, there is a need to look beyond supply-side constraints towards users of financial services, focusing more on financial literacy of households and firms, but also consumer protection. In formulating policy messages, we carefully distinguish between different country groupings, differentiating -- among others -- between low- and middle-income and small and larger economies, with a special focus on resource-based economies and post-conflict countries. This book reaches out to both policy makers concerned about a more inclusive and effective financial system and other stakeholders, including practitioners and development partners. With this book we aim to contribute to the on-going financial sector debate on Africa, with the ultimate goal of faster economic development and poverty reduction.

Africa S Development Crisis And The Role Of External Lending Institutions

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Author : UGWUMBA EGBUTA
language : en
Publisher: GRIN Verlag
Release Date : 2019-04-03

Africa S Development Crisis And The Role Of External Lending Institutions written by UGWUMBA EGBUTA and has been published by GRIN Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-04-03 with Business & Economics categories.

Academic Paper from the year 2019 in the subject Economics - International Economic Relations, , language: English, abstract: This work analyzes Africa’s development crisis and the role of external lending institutions conerning the perspective in Nigeria. African countries came out of colonial rule with two major challenges related to achievement of sustainable development and unity in the continent. It decided to pursue unity which was a means to development. However, the prospects of development was inhibited or truncated by the outbreak of inter and intra-state conflicts that followed independence. To rebuild their economies, African countries resorted to borrowing from the Bretton Woods Institutions: the World Bank and the International Monetary Fund (IMF) and other international financial institutions. To this end, long and short-term loans were given to African leaders who either misapplied the facilities or could not cope with the conditionality associated with economic reform policies. It is in this light that this article interrogates the undercurrents of these conditions attached to the loans on Africa, with insights from the Nigerian experience. It unravels how the application of the loans and the reform policies complicated rather than addressing the developmental malaise that bedevilled post-colonial African states for which the loans were sought for in the first instance. The article further questions the rationale behind the acceptance of these loans by African leaders and why it has consistently favoured borrowing as a means of solving the continent’s development challenges. It recommends, among other options, the evolvement of an alternative funding arrangement from within the continent devoid of external loan trappings. More importantly, having an effective tax system devoid of corruption, purposeful political leadership that will manage the financial sector will help the nation avert similar trend in future. Through these, resources will come from diverse sources that will help the continent develop, since events of the past has proven that these institutions operate loan policies that are not favourable to the developing countries. Above all, efforts should be made to strengthen institutions of government, especially, the anti-corruption and crimes ones to bring about financial accountability regime.

The Economics Of Banking And Finance In Africa

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Author : Joshua Yindenaba Abor
language : en
Publisher: Springer Nature
Release Date : 2022-09-17

The Economics Of Banking And Finance In Africa written by Joshua Yindenaba Abor and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2022-09-17 with Business & Economics categories.

This book evaluates the characteristics and developments in Africa’s financial systems, including monetary policy, structured finance, sustainable finance and banking, FinTech, RegTech, SupTech, inclusive finance, the role of regulation in dealing with banking crises, the impact of the COVID-19 pandemic on Africa’s financial systems and how to reform the post-COVID-19 financial systems. It is made up of contributions from scholars in finance and economics as well as financial market practitioners. Banking and the financial markets play a significant role in the growth of various economies. Although a number of handbooks on banking and finance exist, they mainly focus on Europe, America and Asia. Banks and financial markets in Africa are confronted with different challenges and therefore present a unique case to understand Africa’s financial systems. A number of African countries have experienced banking crises and it is important to examine these issues as well as the regulatory regimes required to address them. This edited book contributes to the limited texts in the area by providing a comprehensive resource on banking and finance for students, scholars, researchers, policymakers, and financial market practitioners. It contains various theoretical and empirical chapters on banking and finance in Africa.

Africa And The Global Financial Crisis

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Author : Reuben Adeolu Alabi
language : en
Publisher: LIT Verlag Münster
Release Date : 2011

Africa And The Global Financial Crisis written by Reuben Adeolu Alabi and has been published by LIT Verlag Münster this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011 with Business & Economics categories.

In this volume of the African Development Perspectives Yearbook series, the Research Group on African Development Perspectives investigates the impact of the Global Financial Crisis (GFC) on economic reform processes in Africa. The analysis is structured in such a way so as to reflect the opportunities and dangers of policy reversals in the face of the GFC. The impact of the crisis on different types and forms of governance in the region is considered. The first question is therefore which macro-economic policy instruments have to be applied in order to overcome the crisis and to continue with sustainable development. The second question is how the GFC has affected Africa's external economic relations and if the path of opening up to the world markets is to be continued. The third question raised is how the crisis has affected social cohesion, impacted poverty alleviation strategies and the achievement of Millennium Development Goals (MDGs). All these questions are discussed in the various contributions which comprise general studies and country case studies. The book also looks into the role of international financial institutions during and after the crisis. (Series: African Development Perspectives Yearbook - Vol. 15)

Financing Africa S Development

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Author : Diery Seck
language : en
Publisher: Springer Nature
Release Date : 2020-06-24

Financing Africa S Development written by Diery Seck and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-06-24 with Business & Economics categories.

This book examines the impact of financing on Africa’s economic development. By exploring various financial instruments including the role of alternative sources of funding like migrant remittances and illicit flows, it analyses the role of financing for Africa’s macroeconomic development and other development indicators such as infrastructure, transport, global trade, industrialisation, social services, external indebtedness and governance. By presenting and examining case studies on various African countries and regions, the respective contributions investigate the capacity of institutions to facilitate and structure the economy’s funding activities, and to strengthen the ties between finance and development. Furthermore, they discuss various regional aspects, such as the integration of infrastructure, harmonization of fiscal policy, integration of financial markets, and the facilitation of intra-regional trade and movement of capital. Given its scope, the book will appeal to scholars of economics and development studies with an interest in the economic development of Africa.

External Assistance And Policies For Growth In Africa

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Author : Mrs.Claire Liuksila
language : en
Publisher: International Monetary Fund
Release Date : 1995-12-15

External Assistance And Policies For Growth In Africa written by Mrs.Claire Liuksila and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-12-15 with Business & Economics categories.

This booklet is a collection of papers presented at a seminar on policies for growth in Africa, held in Paris in February 1995 and sponsored by the Ministry of Finance of Japan. The seminar focused on four broad themes: how to enable the private sector to play a lead role in the growth process in Africa; how to boost domestic savings and help the financial sector to contribute to the mobilization and efficient us of resources; how to facilitate foreign aid and make it more effective; and, what are the essential elements of sound debt management practices?

Financial Sector Development In Africa

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Author : Thorsten Beck
language : en
Publisher: World Bank Publications
Release Date : 2012-11-27

Financial Sector Development In Africa written by Thorsten Beck and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-11-27 with Business & Economics categories.

This edited volume contains eight studies of financial sector challenges in Africa that served as background studies for Financing Africa: Through the Crisis and Beyond. One of the major challenges for African financial systems is to expand financial services to a larger share of the population. The chapters in this area cover microfinance in Africa, the role of technology, reforms of payment infrastructure, and financing agriculture. Two chapters cover challenges in increasing long-term finance; one covers housing finance and the other the role of sovereign wealth fund. The book also contains a detailed discussion of bank regulation and supervision, especially in light of the current regulatory reforms in Europe and North America. The final chapter provides a political economy perspective, discussing the conditions for activist government policies in the financial sector.

Achieving Financial Stability And Growth In Africa

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Author : Stephany Griffith-Jones
language : en
Publisher: Routledge
Release Date : 2016-03-24

Achieving Financial Stability And Growth In Africa written by Stephany Griffith-Jones and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-03-24 with Business & Economics categories.

This book explores how the financial system should be regulated and structured to achieve the twin goals of inclusive growth and financial stability, with a focus on African low-income countries (LICs). The subject and content of this book is original in that it attempts to draw on the lessons and radical rethinking on the financial sector in developed and middle income countries, arising in the wake of the international financial crisis. It includes four in- depth country case studies, of Kenya, Ghana, Nigeria and Ethiopia, but also analyses the empirical evidence for Sub-Saharan Africa as a whole, evaluating the relevance (or not) of such major changes for the very different financial sectors and economies in low income countries. Achieving Financial Stability and Growth in Africa has major academic and policy implications, especially for low income countries, but also more generally, on broader issues. These include the desirable size of the financial sector, as well as more specific issues, such as the high cost of borrowing of small and medium enterprises in LICs, and possible measures to reduce it. Highly topical subjects like the appropriate regulation of the financial sector and management of capital flows are discussed in depth. Though drawing on comprehensive reviews of the literature, this volume has the virtue of the large comparative academic and policy experience of researchers, as well as in-depth case studies, that take account of institutional and economic features of low- income countries. Written by senior academics and policy-makers, this book is a must read for those researching or participating in the financial sectors of low-income countries, as well as in developed economies. It is also suitable for those who study political economy and public finance.

Philip Ndegwa On Africa S Development Crisis And Related International Issues

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Author : Philip Ndegwa
language : en
Publisher: Nairobi : Heinemann, Kenya
Release Date : 1985

Philip Ndegwa On Africa S Development Crisis And Related International Issues written by Philip Ndegwa and has been published by Nairobi : Heinemann, Kenya this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with Africa categories.