Download or read book Prospect of a Common Currency for the Economic Community of West African States Lessons from the Eurozone Experience written by 貝詩瑪 and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Regional Integration in West Africa written by Eswar Prasad and published by Brookings Institution Press. This book was released on 2021-07-13 with total page 203 pages. Available in PDF, EPUB and Kindle. Book excerpt: " Assessing the potential benefits and risks of a currency union Leaders of the fifteen-member Economic Community of West African States (ECOWAS) have set a goal of achieving a monetary and currency union by late 2020. Although some progress has been made toward achieving this ambitious goal, major challenges remain if the region is to realize the necessary macroeconomic convergence and establish the required institutional framework in a relatively short period of time. The proposed union offers many potential benefits, especially for countries with historically high inflation rates and weak central banks. But, as implementation of the euro over the past two decades has shown, folding multiple currencies, representing disparate economies, into a common union comes with significant costs, along with operational challenges and transitional risks. All these potential negatives must be considered carefully by ECOWAS leaders seeking tomeet a self-imposed deadline. This book, by two leading experts on economics and Africa, makes a significant analytical contribution to the debates now under way about how ECOWAS could achieve and manage its currency union, andthe ramifications for the African continent. "
Download or read book The Monetary Geography of Africa written by Paul R. Masson and published by Rowman & Littlefield. This book was released on 2004-11-30 with total page 248 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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
Download or read book South South Regional Financial Arrangements written by Diana Barrowclough and published by Springer Nature. This book was released on 2022-01-18 with total page 361 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book shows how regional cooperation and integration have increased massively in scale and scope in recent years, as developing countries seek new ways to shield themselves from economic turbulence and to kick-start their economies in the face of stagnant global demand. The trend is partly a defense mechanism against the limitations of the international financial system, but also reflects a wider search for new and different growth paths more appropriate with developing countries’ increasing economic and political voice. As a consequence, the landscape of financial and monetary mechanisms has changed dramatically, especially in the ten years since the economic crisis of 2007–2008.
Download or read book The East African Community written by Ms.Catherine McAuliffe and published by International Monetary Fund. This book was released on 2012-11-14 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book The Growth Report written by Commission on Growth and Development and published by World Bank Publications. This book was released on 2008-07-23 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: The result of two years work by 19 experienced policymakers and two Nobel prize-winning economists, 'The Growth Report' is the most complete analysis to date of the ingredients which, if used in the right country-specific recipe, can deliver growth and help lift populations out of poverty.
Download or read book Global Economic Prospects June 2021 written by World Bank and published by World Bank Publications. This book was released on 2021-08-03 with total page 339 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. The global outlook remains uncertain, with major risks around the path of the pandemic and the possibility of financial stress amid large debt loads. Policy makers face a difficult balancing act as they seek to nurture the recovery while safeguarding price stability and fiscal sustainability. A comprehensive set of policies will be required to promote a strong recovery that mitigates inequality and enhances environmental sustainability, ultimately putting economies on a path of green, resilient, and inclusive development. Prominent among the necessary policies are efforts to lower trade costs so that trade can once again become a robust engine of growth. This year marks the 30th anniversary of the Global Economic Prospects. The Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies, on a semiannual basis (in January and June). Each edition includes analytical pieces on topical policy challenges faced by these economies.
Download or read book Global Trends 2040 written by National Intelligence Council and published by Cosimo Reports. This book was released on 2021-03 with total page 158 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.
Download or read book The Fair Trade Scandal written by Ndongo Sylla and published by Ohio University Press. This book was released on 2014-02-01 with total page 193 pages. Available in PDF, EPUB and Kindle. Book excerpt: This critical account of the fair trade movement explores the vast gap between the rhetoric of fair trade and its practical results for poor countries, particularly those of Africa. In the Global North, fair trade often is described as a revolutionary tool for transforming the lives of millions across the globe. The growth in sales for fair trade products has been dramatic in recent years, but most of the benefit has accrued to the already wealthy merchandisers at the top of the value chain rather than to the poor producers at the bottom. Ndongo Sylla has worked for Fairtrade International and offers an insider’s view of how fair trade improves—or doesn’t—the lot of the world’s poorest. His methodological framework first describes the hypotheses on which the fair trade movement is grounded before going on to examine critically the claims made by its proponents. By distinguishing local impact from global impact, Sylla exposes the inequity built into the system and the resulting misallocation of the fair trade premium paid by consumers. The Fair Trade Scandal is an empirically based critique of both fair trade and traditional free trade; it is the more important for exploring the problems of both from the perspective of the peoples of the Global South, the ostensible beneficiaries of the fair trade system.
Download or read book Communities in Action written by National Academies of Sciences, Engineering, and Medicine and published by National Academies Press. This book was released on 2017-04-27 with total page 583 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the United States, some populations suffer from far greater disparities in health than others. Those disparities are caused not only by fundamental differences in health status across segments of the population, but also because of inequities in factors that impact health status, so-called determinants of health. Only part of an individual's health status depends on his or her behavior and choice; community-wide problems like poverty, unemployment, poor education, inadequate housing, poor public transportation, interpersonal violence, and decaying neighborhoods also contribute to health inequities, as well as the historic and ongoing interplay of structures, policies, and norms that shape lives. When these factors are not optimal in a community, it does not mean they are intractable: such inequities can be mitigated by social policies that can shape health in powerful ways. Communities in Action: Pathways to Health Equity seeks to delineate the causes of and the solutions to health inequities in the United States. This report focuses on what communities can do to promote health equity, what actions are needed by the many and varied stakeholders that are part of communities or support them, as well as the root causes and structural barriers that need to be overcome.
Download or read book The Common Monetary Area in Southern Africa Shocks Adjustment and Policy Challenges written by Iyabo Masha and published by INTERNATIONAL MONETARY FUND. This book was released on 2007-07-01 with total page 63 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study assesses the experience of the Common Monetary Area (CMA) based on available empirical evidence over the last two decades. It pays particular attention to member countries' adjustment to economic shocks in recent years and the inter-country linkages, including the spillover effects of policies. The paper draws the main lessons from the CMA experience, identifies key policy challenges, and discusses the issues facing the member countries in their efforts to achieve sustained growth. Implications for further economic integration in a broader regional context are also noted.
Download or read book Regional Integration and Policy Challenges in Africa written by A. Elhiraika and published by Springer. This book was released on 2016-01-26 with total page 359 pages. Available in PDF, EPUB and Kindle. Book excerpt: The role of integration as a catalyst for economic growth, development and insulation from global shocks has made the concept of regional integration even more attractive to states. This books contains compelling arguments and empirical observations that detail some of the key opportunities governments in Africa are pursuing.
Download or read book Asia and Africa in the Global Economy written by Ernest Aryeetey and published by UNU. This book was released on 2003 with total page 438 pages. Available in PDF, EPUB and Kindle. Book excerpt: This publication considers the different economic experiences of countries in Southeast Asia and sub-Saharan Africa, in terms of policy, institutional and structural aspects, divergence in economic growth and performance levels, and the extent of their integration into the global economy. Chapters discuss a variety of issues including the dynamics of globalisation, local entrepreneurship, exports, foreign direct investment, management of financial flows, foreign aid, debt and development.
Download or read book Made in Africa written by Carol Newman and published by Brookings Institution Press. This book was released on 2016-02-23 with total page 315 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why is there so little industry in Africa? Over the past forty years, industry has moved from the developed to the developing world, yet Africa’s share of global manufacturing has fallen from about 3 percent in 1970 to less than 2 percent in 2014. Industry is important to low-income countries. It is good for economic growth, job creation, and poverty reduction. Made in Africa: Learning to Compete in Industry outlines a new strategy to help African industry compete in global markets. This book draws on case studies and econometric and qualitative research from Africa and emerging Asia to understand what drives firm-level competitiveness in low-income countries. The results show that while traditional concerns such as infrastructure, skills, and the regulatory environment are important, they alone will not be sufficient for Africa to industrialize. The book also addresses how industrialization strategies will need to adapt to the region’s growing resource abundance.
Download or read book Special Economic Zones in Africa written by Thomas Farole and published by World Bank Publications. This book was released on 2011-01-01 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This book, designed for policymakers, academics and researchers, and SEZ program practitioners, provides the first systematic and comprehensive analysis of SEZ programs in Sub-Saharan Africa. It is the result of detailed surveys and case studies conducted during 2009 in ten developing countries, including six in Sub-Saharan Africa. The book provides quantitative evidence of the performance of SEZs, and of the factors which contribute to that performance, highlighting the critical importance not just of the SEZ itself but of the wider national investment climate in which it functions. It also provides a comprehensive guide to the key policy questions that confront governments establishing SEZ programs, including: if and when to launch an SEZ program, what form of SEZ is most appropriate, and how to go about implementing it. Among the most important findings from the study that is stressed in the book is the shift from traditional enclave models of zones to SEZs that are integrated ? with national trade and industrial strategies, with core trade and social infrastructure, with domestic suppliers, and with local labor markets.Although the book focuses primarily on the experience of Sub-Saharan Africa, its lessons will be applicable to developing countries around the world."
Download or read book Our Continent Our Future written by P. Thandika Mkandawire and published by IDRC. This book was released on 2014-05-14 with total page 192 pages. Available in PDF, EPUB and Kindle. Book excerpt: Our Continent, Our Future presents the emerging African perspective on this complex issue. The authors use as background their own extensive experience and a collection of 30 individual studies, 25 of which were from African economists, to summarize this African perspective and articulate a path for the future. They underscore the need to be sensitive to each country's unique history and current condition. They argue for a broader policy agenda and for a much more active role for the state within what is largely a market economy. Finally, they stress that Africa must, and can, compete in an increasingly globalized world and, perhaps most importantly, that Africans must assume the leading role in defining the continent's development agenda.
Download or read book The Search for Europe written by Daron Acemoglu and published by La fabrica. This book was released on 2016 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume is now the eighth in the annual series sponsored by BBVA as part of its OpenMind initiative, which is devoted to disseminating knowledge on key issues of our time. The Search for Europe analyses the present and future of the old continent and its integration project, surely the most ambitious political and economic integration project ever attempted in history, a benchmark for similar processes in other regions. The book is divided into three main sections: "The economic foundations of the European project", "Europe and its nations: Politics, society and culture", and "The unresolved Limits of Europe and the new global powers". It features pieces written by international experts such as Javier Solana, Barry Eichengreen, Philip Cooke, Bichara Khader, Vivien Ann Schmidt, John Peet and Thomas Christiansen, among others.
