Will The Euro Trigger More Monetary Unions In Africa
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Will The Euro Trigger More Monetary Unions In Africa
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Author :
language : en
Publisher: World Bank Publications
Release Date :
Will The Euro Trigger More Monetary Unions In Africa written by 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 with categories.
Will The Euro Trigger More Monetary Unions In Africa
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Author : Patrick Honohan
language : en
Publisher:
Release Date : 2000
Will The Euro Trigger More Monetary Unions In Africa written by Patrick Honohan and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000 with Euro categories.
Optimum Currency Areas A Monetary Union For Southern Africa
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Author : Christian Sorgenfrei
language : en
Publisher: Diplomica Verlag
Release Date : 2011-03
Optimum Currency Areas A Monetary Union For Southern Africa written by Christian Sorgenfrei and has been published by Diplomica Verlag this book supported file pdf, txt, epub, kindle and other format this book has been release on 2011-03 with Business & Economics categories.
With the current situation in the European Monetary Union in mind, a Monetary Union in other parts of the world seems highly inadvisable. Nevertheless, Africa has some of the oldest Monetary arrangements in the world, dating back to the beginning of the 19th century. Is Africa particularly qualified for a Monetary Union? And furthermore, what features are necessary to make Monetary Arrangements between countries endurable? This study evaluates the prospects and the feasibility of a monetary union in the Southern African Development Community (SADC) from an economic point of view. Both the theory of optimum currency areas and the recent example of the European Monetary Union are employed to analyze the pros and cons of monetary unification. The theoretical implications are operationalized, first, by a broad analysis of economic and socio graphic data, and second, by estimating the degree of structural shock synchronization between SADC countries. Results obtained by an Autoregressive and Vector Autoregressive model indicate that a monetary union which includes all SADC members is neither desirable nor feasible in the foreseeable future. However, the study concludes that a small subset of countries, including South Africa, Namibia, Swaziland, Lesotho, Mozambique, Botswana and Zambia, could gain from forming a smaller monetary union.
The Monetary Geography Of Africa
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Author : Paul R. Masson
language : en
Publisher:
Release Date : 2005
The Monetary Geography Of Africa written by Paul R. Masson and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2005 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 single African currency is probably beyond reach. Economic realities suggest that grand new projects for African monetary unions are unlikely to be successful. More important for Africa's economic well-being will be to attack the more fundamental problems of corruption and governance.
Optimum Currency Areas Is Southern Africa Ready To Form A Monetary Union
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Author : Christian Sorgenfrei
language : en
Publisher: diplom.de
Release Date : 2010-11-18
Optimum Currency Areas Is Southern Africa Ready To Form A Monetary Union written by Christian Sorgenfrei and has been published by diplom.de this book supported file pdf, txt, epub, kindle and other format this book has been release on 2010-11-18 with Political Science categories.
Inhaltsangabe:Introduction and Course of Work: In 2007, at their meeting in Tanzania, the central bank governors of the Southern African Development Community (SADC) laid out a strategy to strengthen regional integration, containing the development of a common market by 2015, fixed exchange rates by 2016, and, ultimately, a monetary union with a single currency in 2018. In pursuit of this agenda, a free trade area absent of intra-regional tariffs was arranged in August 2008 with a regional customs union to follow this year. The currently fourteen member countries of the SADC committed themselves towards achieving economic convergence and to deepen monetary cooperation. In the 21st century, Africa finds itself increasingly separated from economic developments in the remaining world and fails to prosper from increased globalization. Despite a large abundance in natural resources, many countries have suffered from an extremely poor economic performance, which mainly originated from internal strives and weak and distortionary policies. Inward looking governments, conducting clientele policies, are focused on reaping economic rents rather than on fostering growth. Furthermore, tribal conflicts and civil war have sparked recurring border conflicts with neighboring countries. Although Africa has seen a large number of regional arrangements and trading blocs throughout the continent, the overall success for growth and trade expansion was limited. Against this background, the formation of a monetary union is believed to counteract economic and political weaknesses, to improve regional cooperation and to enhance both the political and economic standing in the world. A monetary union and a common currency entails both gains and losses for its members. On the cost side, countries in a monetary union effectively loose the ability to pursue independent monetary policies and to use the exchange rate as adjustment instrument to stabilize the economy. On the other hand, countries inside a monetary union benefit from reduced transaction costs and the elimination of internal exchange rate volatility. Furthermore, countries which suffer from weak internal stability and high inflation rates benefit by using the fixed exchange rate in a monetary union as external anchor. By transferring the power over monetary policy to a supranational central bank, the risk of homegrown inflation and currency devaluations is banished and economic agents are able to borrow at more [...]
African Development Finance And Business Finance Policy
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Author : Atsede Woldie
language : en
Publisher: Routledge
Release Date : 2014-05-01
African Development Finance And Business Finance Policy written by Atsede Woldie and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-05-01 with Business & Economics categories.
Financial plans that stimulate growth and eliminate poverty in developing African countries! African Developmental Finance and Business Finance Policy presents theoretical/conceptual and empirical articles that provide invaluable insights into successful business techniques and strategies for the African business arena—the last great frontier of international business expansion. Researchers and practitioners in the field of developmental finance discuss the design and implementation of financial policies for pro-poor growth and poverty alienation in developing countries, including Kenya, Zambia, Nigeria, Mauritius, and Zimbabwe. The book focuses on banking, business finance, and investment, detailing strategies for coping with a small financial system, bank licensing policies, correction action rules, quality of banking services, and the revitalization of the African stock exchange. African Developmental Finance and Business Finance Policy features papers presented on key policy issues addressed at the April 2001 international conference of the Institute for Developmental Policy and Management at the University of Manchester in England. Topics addressed include: financial regulation, interest rates bank ownership regulatory forbearance emerging stock markets determinants of capital structure financial reform and much more! Targeted to policymakers in government and international agencies, academics, consultants, and executives, African Developmental Finance and Business Finance Policy is an essential resource for advancing and communicating research on developmental policy in developing countries.
Global Monetary Governance
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Author : Benjamin J. Cohen
language : en
Publisher: Routledge
Release Date : 2007-12-06
Global Monetary Governance written by Benjamin J. Cohen and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-12-06 with Political Science categories.
Benjamin J. Cohen has been one of the most original and influential writers on international political economy. This book provides an overview of his contribution to the field, grouped around the central theme of global monetary governance. The book is divided into three sections:challenges to systemic governance - examines the challenge of governa
Natural Openness And Good Government
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Author : Shang-Jin Wei
language : en
Publisher: World Bank Publications
Release Date : 2000
Natural Openness And Good Government written by Shang-Jin Wei 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 2000 with Bureaucracy categories.
A "naturally more open economy"--As determined by its size and geography - devotes more resources to building good institutions and displays less corruption.
Pension Reform And Capital Market Development
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Author : Dimitri Vittas
language : en
Publisher: World Bank Publications
Release Date : 2000
Pension Reform And Capital Market Development written by Dimitri Vittas 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 2000 with Capital market categories.
Private pension funds are neither necessary nor sufficient for capital market development. But if they are subject to conducive regulations, adopt optimizing policies, and operate in a pluralistic structure, they can have a large impact on capital market modernization and development once they reach a critical mass.
My Everyday French Word Book
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Author : Benvenuti
language : en
Publisher: World Bank Publications
Release Date : 1980-09-01
My Everyday French Word Book written by Benvenuti 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 1980-09-01 with Juvenile Nonfiction categories.
Drawings of everyday objects, activities, and scenes in France are accompanied by brief texts in English and vocabulary words, phrases, and short sentences in French.