Toward A Monetary Union In The East African Community
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Toward A Monetary Union In The East African Community
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Author : Mr. Paulo Drummond
language : en
Publisher: International Monetary Fund
Release Date : 2015-07-20
Toward A Monetary Union In The East African Community written by Mr. Paulo Drummond 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 2015-07-20 with Business & Economics categories.
This paper examines how susceptible East African Community (EAC) economies are to asymmetric shocks, assesses the value of the exchange rate as a shock absorber for these countries, and reviews adjustment mechanisms that would help ensure a successful experience under a common currency. The report draws on analysis of recent experiences and examines likely future changes in the EAC economies.
The Quest For Regional Integration In The East African Community
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Author : Mr.Paulo Drummond
language : en
Publisher: International Monetary Fund
Release Date : 2015-01-12
The Quest For Regional Integration In The East African Community written by Mr.Paulo Drummond 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 2015-01-12 with Business & Economics categories.
The countries in the East African Community (EAC) are among the fastest growing economies in sub-Saharan Africa. The EAC countries are making significant progress toward financial integration, including harmonization of supervisory arrangements and practices and the modernization of monetary policy frameworks. This book focuses on regional integration in the EAC and argues that the establishment of a time table for the eliminating the sensitive-products list and establishing a supranational legal framework for resolving trade disputes are important reforms that should foster regional integration.
The Quest For Regional Integration In The East African Community
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Author :
language : en
Publisher:
Release Date :
The Quest For Regional Integration In The East African Community written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on with Africa, Eastern categories.
Monetary Transmission Mechanism In The East African Community
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Author : Mr.Hamid Reza Davoodi
language : en
Publisher: International Monetary Fund
Release Date : 2013-02-06
Monetary Transmission Mechanism In The East African Community written by Mr.Hamid Reza Davoodi 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 2013-02-06 with Business & Economics categories.
Do changes in monetary policy affect inflation and output in the East African Community (EAC)? We find that (i) Monetary Transmission Mechanism (MTM) tends to be generally weak when using standard statistical inferences, but somewhat strong when using non-standard inference methods; (ii) when MTM is present, the precise transmission channels and their importance differ across countries; and (iii) reserve money and the policy rate, two frequently used instruments of monetary policy, sometimes move in directions that exert offsetting expansionary and contractionary effects on inflation—posing challenges to harmonization of monetary policies across the EAC and transition to a future East African Monetary Union. The paper offers some suggestions for strengthening the MTM in the EAC.
The East African Community
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Author : Ms.Catherine McAuliffe
language : en
Publisher: International Monetary Fund
Release Date : 2012-11-14
The East African Community written by Ms.Catherine McAuliffe 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 2012-11-14 with Business & Economics categories.
The East African Community (EAC) has been among the fastest growing regions in sub-Saharan Africa in the past decade or so. Nonetheless, the recent growth path will not be enough to achieve middle-income status and substantial poverty reduction by the end of the decade—the ambition of most countries in the region. This paper builds on methodologies established in the growth literature to identify a group of countries that achieved growth accelerations and sustained growth to use as benchmarks to evaluate the prospects, and potential constraints, for EAC countries to translate their recent growth upturn into sustained high growth. We find that EAC countries compare favorably to the group of sustained growth countries—macroeconomic and government stability, favorable business climate, and strong institutions—but important differences remain. EAC countries have a smaller share of exports, lower degree of financial deepening, lower levels of domestic savings, higher reliance on donor aid, and limited physical infrastructure and human capital. Policy choices to address some of these shortcomings could make a difference in whether the EAC follows the path of sustained growth or follows other countries where growth upturns later fizzled out.
Capital Market Integration
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Author : Mr.Masafumi Yabara
language : en
Publisher: International Monetary Fund
Release Date : 2012-01-01
Capital Market Integration written by Mr.Masafumi Yabara 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 2012-01-01 with Business & Economics categories.
Capital markets in the East African Community (EAC) face common challenges of low capitalization and liquidity, but to different degrees. EAC member countries have made noticeable progress in developing domestic capital markets through a regional approach, removing constraints on capital transactions and harmonizing market infrastructure. Nevertheless, empirical analysis suggests capital market integration has not deepened during the past few years in the EAC, although convergence of investment returns is taking place to some extent. Learning from the experience of the West African Economic and Monetary Union and the Association of Southeast Asian Nations, EAC countries would benefit from four actions to accelerate financial market integration: (i) further harmonize market infrastructure; (ii) strengthen regional surveillance mechanisms; (iii) encourage local currency bond issuance by multilateral financial institutions; and (iv) build the capacity of the existing regional institutions.
Economic Integration Currency Union And Sustainable And Inclusive Growth In East Africa
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Author : Almas Heshmati
language : en
Publisher: Springer
Release Date : 2016-04-30
Economic Integration Currency Union And Sustainable And Inclusive Growth In East Africa written by Almas Heshmati and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-30 with Business & Economics categories.
This edited volume focuses on economic integration, currency union, and sustainable and inclusive growth in East Africa. It consists of twelve interrelated studies that provide a comprehensive picture of the state and determinants of economic development and cooperation among countries in East Africa, such as Burundi, Ethiopia, Kenya, Rwanda and Tanzania. The contributions are grouped into five parts: economic integration and its effects on trade; common currency and exchange rate; research, innovation, and knowledge, and shadow economics and corruption; inclusive and sustainable growth; and the conflict-growth nexus and reconstruction. This book will appeal to scholars and decision makers looking for the necessary tools and determinants of economic development and cooperation in East Africa.
The Monetary Geography Of Africa
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Author : Paul R. Masson
language : en
Publisher: Rowman & Littlefield
Release Date : 2004-11-30
The Monetary Geography Of Africa written by Paul R. Masson and has been published by Rowman & Littlefield this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004-11-30 with Business & Economics categories.
Africa is working toward the goal of creating a common currency that would serve as a symbol of African unity. The advantages of a common currency include lower transaction costs, increased stability, and greater insulation of central banks from pressures to provide monetary financing. Disadvantages relate to asymmetries among countries, especially in their terms of trade and in the degree of fiscal discipline. More disciplined countries will not want to form a union with countries whose excessive spending puts upward pressure on the central bank's monetary expansion. In T he Monetary Geography of Africa, Paul Masson and Catherine Pattillo review the history of monetary arrangements on the continent and analyze the current situation and prospects for further integration. They apply lessons from both experience and theory that lead to a number of conclusions. To begin with, West Africa faces a major problem because Nigeria has both asymmetric terms of trade—it is a large oil exporter while its potential partners are oil importers—and most important, large fiscal imbalances. Secondly, a monetary union among all eastern or southern African countries seems infeasible at this stage, since a number of countries suffer from the effects of civil conflicts and drought and are far from achieving the macroeconomic stability of South Africa. Lastly, the plan by Kenya, Tanzania, and Uganda to create a common currency seems to be generally compatible with other initiatives that could contribute to greater regional solidarity. However, economic gains would likely favor Kenya, which, unlike the other two countries, has substantial exports to its neighbors, and this may constrain the political will needed to proceed. A more promising strategy for monetary integration would be to build on existing monetary unions—the CFA franc zone in western and central Africa and the Common Monetary Area in southern Africa. Masson and Pattillo argue that the goal of a creating a s
Protocol On The Establishment Of The East African Community Monetary Union
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Author :
language : en
Publisher:
Release Date : 2013
Protocol On The Establishment Of The East African Community Monetary Union written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with categories.
East African Community Law
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Author : Emmanuel Ugirashebuja
language : en
Publisher: BRILL
Release Date : 2017-03-06
East African Community Law written by Emmanuel Ugirashebuja and has been published by BRILL this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-03-06 with Law categories.
East African Community Law provides a comprehensive and open-access text book on EAC law. Written by leading experts, including the president of the EACJ, national judges, academics and practitioners, it provides the most complete overview to date of this increasingly important field. Uniquely, the book also provides a systematic comparison with EU law. EU companion chapters provide concise overviews of EU law and its development, offering valuable inspiration for the application and further development of EAC law. The book has been written for all practitioners, judges, civil servants, academics and students faced with questions of EAC law. It discusses institutional, substantive and jurisdictional issues, including the nature of EAC law, free movement and competition law as well as the reception of EAC law in Partner States.