A Single Currency For West Africa PDF Download
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Author | : Eswar Prasad |
Publisher | : Brookings Institution Press |
Total Pages | : 203 |
Release | : 2021-07-13 |
Genre | : Business & Economics |
ISBN | : 0815738544 |
Download Regional Integration in West Africa Book in PDF, ePub and Kindle
" 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. "
Author | : Paul R. Masson |
Publisher | : Rowman & Littlefield |
Total Pages | : 248 |
Release | : 2004-11-30 |
Genre | : Business & Economics |
ISBN | : 9780815797531 |
Download The Monetary Geography of Africa Book in PDF, ePub and Kindle
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
Author | : Emmanuel Tweneboah Senzu |
Publisher | : Eliva Press |
Total Pages | : 46 |
Release | : 2021-07-20 |
Genre | : |
ISBN | : 9781636482736 |
Download Single Currency Union Book in PDF, ePub and Kindle
The Book recognizes and acknowledges the current failure of the ECOWAS vision 2020 to institute its Eco-currency union, and proceed to explore and develop an argument based on the existing studies of structured economic shocks, significant to the failure of the single currency union, and its major causal factors. And with observed structured analysis, proposed catalytic activator, as a method and a theoretical guide to attain the single currency union within three (3) years ahead, if the necessary requirement as the commitment level of members' State is applied towards the single currency unification program. It then elaborates in the spirit of precision the process required to sustain the Eco-currency program in other to elevate member States from its domestic currencies, struggling as a subservient economic bloc to the adoption of a new anticipated domineering currency in its own merit to shoulder with the global dominating hard currencies.
Author | : Ali Zafar |
Publisher | : Springer Nature |
Total Pages | : 250 |
Release | : 2021-05-11 |
Genre | : Business & Economics |
ISBN | : 3030710068 |
Download The CFA Franc Zone Book in PDF, ePub and Kindle
This book provides an empirical analysis of economic and political structures impacting the CFA franc zone. Concise and practical chapters explore the history of the CFA franc zone, challenges to development, geopolitical issues, the importance of flexible exchanges rates, growth trends, and the impact of the Covid crisis. Policy reform is examined to detail economic approaches that could reduce poverty and increase the quality of life within the area. This book aims to present a macroeconomic and exchange rate framework to promote development and post-Covid recovery within the CFA franc zone. It will be of interest to students, researchers, and policymakers involved in African economics, the political economy, and development economics.
Author | : International Monetary Fund |
Publisher | : |
Total Pages | : 46 |
Release | : 2000 |
Genre | : Africa, West |
ISBN | : |
Download Monetary Union in West Africa (ECOWAS) Book in PDF, ePub and Kindle
Monetary union, currency unions, fixed exchange rate, monetary stability.
Author | : Fanny Pigeaud |
Publisher | : Pluto Press (UK) |
Total Pages | : 0 |
Release | : 2021 |
Genre | : Africa |
ISBN | : 9780745341798 |
Download Africa's Last Colonial Currency Book in PDF, ePub and Kindle
How the CFA Franc enabled France to continue its colonies in Africa.
Author | : |
Publisher | : |
Total Pages | : |
Release | : 1985 |
Genre | : |
ISBN | : |
Download Collective Pegging to a Single Currency Book in PDF, ePub and Kindle
Author | : Patrick A. Imam |
Publisher | : International Monetary Fund |
Total Pages | : 46 |
Release | : 2013-10-22 |
Genre | : Business & Economics |
ISBN | : 1484348222 |
Download West African Economic and Monetary Union Book in PDF, ePub and Kindle
The financial system in the WAEMU remains largely bank-based. The banking sector comprises 106 banks and 13 financial institutions, which together hold more than 90 percent of the financial system’s assets (about 54 percent of GDP at end-2011). Five banks account for 50 percent of banking assets. The ownership structure of the sector is changing fast, with the rapid rise of foreign-owned (pan-African) banks. This contributes to higher competition but also rising heterogeneity in the banking system, with large and profitable cross-country groups competing with often weaker country-based (and sometime government-owned) banks. Nonbank financial institutions are developing quickly, notably insurance companies, but remain overall small. This paper presents a detailed analysis of the banking system.
Author | : Eswar Prasad |
Publisher | : |
Total Pages | : 180 |
Release | : 2021-07-13 |
Genre | : |
ISBN | : 9780815738534 |
Download A Single Currency for West Africa Book in PDF, ePub and Kindle
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 to meet 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, and the ramifications for the African continent.
Author | : Ashoka Mody |
Publisher | : Oxford University Press |
Total Pages | : 673 |
Release | : 2018 |
Genre | : BUSINESS & ECONOMICS |
ISBN | : 0199351384 |
Download Eurotragedy Book in PDF, ePub and Kindle
EuroTragedy is an incisive exploration of the tragedy of how the European push for integration was based on illusions and delusions pursued in the face of warnings that the pursuit of unity was based on weak foundations.