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| Author | : Andrew Berg |
| Publisher | : Oxford University Press |
| Total Pages | : 474 |
| Release | : 2018-04-27 |
| Genre | : Business & Economics |
| ISBN | : 019878581X |
Download Monetary Policy in Sub-Saharan Africa Book in PDF, ePub and Kindle
Low-income countries in sub-Saharan Africa present unique monetary policy challenges, from the high share of volatile food in consumption to underdeveloped financial markets. This book draws on the International Monetary Fund's research and practice to uncover how monetary policy in this region currently operates, and what changes should be made.
| Author | : Ms.Catherine A. Pattillo |
| Publisher | : International Monetary Fund |
| Total Pages | : 62 |
| Release | : 2006-08-28 |
| Genre | : Business & Economics |
| ISBN | : 9781589065659 |
Download Sub-Saharan Africa Book in PDF, ePub and Kindle
Financial sectors in low-income sub-Saharan Africa (SSA) are among the world's least developed. In fact, assets in most low-income African countries are smaller than those held by a single medium-sized bank in an industrial country. The absence of deep, efficient financial markets seriously challenges policy making, hinders poverty alleviation, and constrains growth. This book argues that building efficient and sound financial sectors in SSA countries will improve Africa's economic prospects. Based on a review of the key features of financial systems, it discusses the main obstacles and challenges that financial structures pose for SSA economies and recommends steps that could address major shortcomings in implementing the reform agenda.
| Author | : Mr.Montfort Mlachila |
| Publisher | : International Monetary Fund |
| Total Pages | : 79 |
| Release | : 2016-09-14 |
| Genre | : Business & Economics |
| ISBN | : 1475532407 |
Download Financial Development in Sub-Saharan Africa Book in PDF, ePub and Kindle
This paper discusses how sub-Saharan Africa’s financial sector developed in the past few decades, compared with other regions. Sub-Saharan African countries have made substantial progress in financial development over the past decade, but there is still considerable scope for further development, especially compared with other regions. Indeed, until a decade or so ago, the level of financial development in a large number of sub-Saharan African countries had actually regressed relative to the early 1980s. With the exception of the region’s middle-income countries, both financial market depth and institutional development are lower than in other developing regions. The region has led the world in innovative financial services based on mobile telephony, but there remains scope to increase financial inclusion further. The development of mobile telephone-based systems has helped to incorporate a large share of the population into the financial system, especially in East Africa. Pan-African banks have been a driver for homegrown financial development, but they also bring a number of challenges.
| Author | : Salewa Olawoye |
| Publisher | : Edward Elgar Publishing |
| Total Pages | : 175 |
| Release | : 2023-01-20 |
| Genre | : Business & Economics |
| ISBN | : 1802205373 |
Download COVID-19 and the Response of Central Banks Book in PDF, ePub and Kindle
COVID-19 and the Response of Central Banks analyses the reactions of central banks to the COVID-19 crisis in Sub-Saharan Africa. It focuses on how the pandemic has affected the economic performance of Sub-Saharan African countries, many of which were already struggling with growth and sustainability. The first part of the book covers countries within monetary unions such as Cameroon, Congo, Senegal, and Cote d'Ivoire. In the second half, countries with their own independent central banks, The Democratic Republic of Congo, Nigeria, Ghana, and Sierra Leone, are discussed. Chapters highlights the differences between Monetary Union membership and independent Central Banks in policymaking during health crises and explore the role of central banking in minimizing the deleterious effects.
| Author | : Alfredo Baldini |
| Publisher | : INTERNATIONAL MONETARY FUND |
| Total Pages | : 37 |
| Release | : 2008-05-01 |
| Genre | : |
| ISBN | : 9781451869811 |
Download Fiscal and Monetary Anchors for Price Stability: Evidence from Sub-Saharan Africa Book in PDF, ePub and Kindle
The paper presents a model of fiscal dominance with borrowing constraints, and provides evidence for a large number of sub-Saharan African countries on the relative importance of fiscal and monetary determinants of inflation. Based on the dynamic response of inflation to different shocks, including nominal public debt, results show that a number of SSA countries were characterized throughout the period 1980-2005 either by chronic fiscally dominant regimes, with weak or no response of primary surpluses to public debt; or by a consistent adoption of a monetary dominant regime. However, a number of countries were also characterized by lack of a clear monetary and fiscal policy regime. The study also finds that changes in nominal public debt affect price variability via aggregate demand effects, suggesting that fiscal outcomes could be a direct source of inflation variability, as predicted by the fiscal theory of the price level.
| Author | : Mr.Xavier Debrun |
| Publisher | : International Monetary Fund |
| Total Pages | : 70 |
| Release | : 2010-07-01 |
| Genre | : Business & Economics |
| ISBN | : 1455201405 |
Download Should African Monetary Unions Be Expanded? An Empirical Investigation of the Scope for Monetary Integration in Sub-Saharan Africa Book in PDF, ePub and Kindle
This paper develops a full-fledged cost-benefit analysis of monetary integration, and applies it to the currency unions actively pursued in Africa. The benefits of monetary union come from a more credible monetary policy, while the costs derive from real shock asymmetries and fiscal disparities. The model is calibrated using African data. Simulations indicate that the proposed EAC, ECOWAS, and SADC monetary unions bring about net benefits to some potential members, but modest net gains and sometimes net losses for others. Strengthening domestic macroeconomic frameworks is shown to provide some of the same improvements as monetary integration, reducing the latter’s relative attractiveness.
| Author | : Mr.Anupam Basu |
| Publisher | : International Monetary Fund |
| Total Pages | : 36 |
| Release | : 1999-04-01 |
| Genre | : Business & Economics |
| ISBN | : 1451847092 |
Download Adjustment and Growth in Sub-Saharan Africa Book in PDF, ePub and Kindle
This paper analyzes the factors affecting economic growth in sub-Saharan Africa, using data for 1981–97. The results indicate that per capita real GDP growth is positively influenced by economic policies that raise the ratio of private investment to GDP, promote human capital development, lower the ratio of the budget deficit to GDP, safeguard external competitiveness, and stimulate export volume growth. The favorable evolution of these variables played an important role in the region’s apparent postreform recovery of 1995–97. The paper also discusses a policy framework to promote sustainable economic growth and reduce poverty in sub-Saharan Africa
| Author | : Zo Andriantomanga |
| Publisher | : International Monetary Fund |
| Total Pages | : 41 |
| Release | : 2023-02-24 |
| Genre | : Business & Economics |
| ISBN | : |
Download Global Supply Chain Disruptions: Challenges for Inflation and Monetary Policy in Sub-Saharan Africa Book in PDF, ePub and Kindle
The Covid-19 pandemic has led to a large disruption of global supply chains. This paper studies the implications of supply chain disruptions for inflation and monetary policy in sub-Saharan Africa. Increases in supply chain pressures have had a sizeable impact on headline, food, and tradable inflation for a panel of 29 sub-Saharan African countries from 2000 to 2022. Our findings suggest that central banks can stabilize inflation and output more efficiently by monitoring global supply chains and adjusting the monetary policy stance before the disruptions have fully passed through into all inflation components. The gains from monitoring supply chain disruptions are particularly large for open economies which tend to experience outsized second-round effects on the prices of non-tradable goods and services.
| Author | : Mr.Enrique Gelbard |
| Publisher | : International Monetary Fund |
| Total Pages | : 29 |
| Release | : 1999-08-01 |
| Genre | : Business & Economics |
| ISBN | : 1451852800 |
Download Measuring Financial Development in Sub-Saharan Africa Book in PDF, ePub and Kindle
This study introduces an index for measuring financial development and a set of six indices representing key characteristics of the financial systems in 38 sub-Saharan African countries. The results show that these countries have made good progress in improving and modernizing their financial systems during the last decade, particularly with regard to financial liberalization and the adoption of indirect instruments of monetary policy. In many countries, however, the range of financial products remains extremely limited, interest rate spreads are wide, capital adequacy ratios are insufficient, judicial loan recovery is a problem, and the share of nonperforming loans is large.
| Author | : Corinne Deléchat |
| Publisher | : International Monetary Fund |
| Total Pages | : 46 |
| Release | : 2015-12-22 |
| Genre | : Business & Economics |
| ISBN | : 1513591312 |
Download Exiting From Fragility in sub-Saharan Africa Book in PDF, ePub and Kindle
This paper studies the role of fiscal policies and institutions in building resilience in sub-Saharan African countries during 1990-2013, with specific emphasis on a group of twenty-six countries that were deemed fragile in the 1990s. As the drivers of fragility and resilience are closely intertwined, we use GMM estimation as well as a probabilistic framework to address endogeneity and reverse causality. We find that fiscal institutions and fiscal space, namely the capacity to raise tax revenue and contain current spending, as well as lower military spending and, to some extent, higher social expenditure, are significantly and fairly robustly associated with building resilience. Similar conclusions arise from a study of the progression of a group of seven out of the twenty-six sub- Saharan African countries that managed to build resilience after years of civil unrest and/or violent conflict. These findings suggest relatively high returns to focusing on building sound fiscal institutions in fragile states. The international community can help this process through policy advice, technical assistance, and training on tax administration and budget reforms.
