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How Integration Into The Central African Economic And Monetary Community Affects Cameroons Economy
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Book Synopsis How Integration Into the Central African Economic and Monetary Community Affects Cameroon's Economy by : Ferdinand Bakoup
Download or read book How Integration Into the Central African Economic and Monetary Community Affects Cameroon's Economy written by Ferdinand Bakoup and published by World Bank Publications. This book was released on 1998 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: January 1998 Cameroon stands to gain economically from the new regional trade agreement among countries of the Central African Economic and Monetary Community. Better access to partner markets and reduction of the external tariff explain virtually all of Cameroon's welfare gain. Bakoup and Tarr quantify the impact on Cameroon of three aspects of its new regional trade agreement with the Central African Economic and Monetary Community (the CEMAC agreement): * Improved access to markets in CEMAC. * Preferential tariff reduction. * Reduction of its external tariff through implementation of the common external tariff of CEMAC. They estimate that Cameroon will gain from the agreement but show how Cameroon's regional market power greatly affects the magnitude of its gains. They assume that Cameroon has regional market power in both imports and exports despite being small in world markets. They find that better access to partner markets and reduction of the external tariff explain virtually all of Cameroon's welfare gain. In their preferred scenario (Cameroon having regional market power), reduction of the external tariff explains three-quarters of the welfare gain. If Cameroon further reduces tariffs to its regional partners, the effect on its economy is a loss of real income but the impact is negligible. Should Cameroom's partners fail to provide tariff-free access to their markets, Bakoup and Tarr estimate that, given Cameroon's regional market power, Cameroon would gain even more from free trade than it would from implementing the CEMAC arrangements. This paper-a product of the Development Research Group-is part of a larger effort in the group to investigate the implications of regional trade arrangements.
Book Synopsis How Integration into the Central African Economic and Monetary Community Affects Cameroon's Economy by : David G. Tarr
Download or read book How Integration into the Central African Economic and Monetary Community Affects Cameroon's Economy written by David G. Tarr and published by . This book was released on 2016 with total page 52 pages. Available in PDF, EPUB and Kindle. Book excerpt: Cameroon stands to gain economically from the new regional trade agreement among countries of the Central African Economic and Monetary Community. Better access to partner markets and reduction of the external tariff explain virtually all of Cameroon's welfare gain.Bakoup and Tarr quantify the impact on Cameroon of three aspects of its new regional trade agreement with the Central African Economic and Monetary Community (the CEMAC agreement):- Improved access to markets in CEMAC.- Preferential tariff reduction.- Reduction of its external tariff through implementation of the common external tariff of CEMAC.They estimate that Cameroon will gain from the agreement but show how Cameroon's regional market power greatly affects the magnitude of its gains. They assume that Cameroon has regional market power in both imports and exports despite being small in world markets.They find that better access to partner markets and reduction of the external tariff explain virtually all of Cameroon's welfare gain.In their preferred scenario (Cameroon having regional market power), reduction of the external tariff explains three-quarters of the welfare gain.If Cameroon further reduces tariffs to its regional partners, the effect on its economy is a loss of real income but the impact is negligible.Should Cameroom's partners fail to provide tariff-free access to their markets, Bakoup and Tarr estimate that, given Cameroon`s regional market power, Cameroon would gain even more from free trade than it would from implementing the CEMAC arrangements.This paper - a product of the Development Research Group - is part of a larger effort in the group to investigate the implications of regional trade arrangements.
Book Synopsis How Integration Into the Central Africal Economic and Monetary Community Affects Cameroon's Economy by : Ferdinand Bakoup
Download or read book How Integration Into the Central Africal Economic and Monetary Community Affects Cameroon's Economy written by Ferdinand Bakoup and published by . This book was released on 1998 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Central African Economic and Monetary Community by : International Monetary Fund
Download or read book Central African Economic and Monetary Community written by International Monetary Fund and published by International Monetary Fund. This book was released on 2002-09-24 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines recent developments and regional policy issues for the Central African Economic and Monetary Community (CEMAC). The CEMAC region benefited in 2000–01 from favorable world oil prices. This helped to improve the public finances and to strengthen the reserve position of the Central Bank of Central African States. But inflation increased to 4 percent in 2001, owing to pressures from high domestic demand growth, which rose by 12 percent in real terms, and was fed by growth in credit to governments. Prospects for 2002 are for continued strong growth in domestic demand.
Book Synopsis Economic Integration in Africa by : Peter Robson
Download or read book Economic Integration in Africa written by Peter Robson and published by Routledge. This book was released on 2012-08-06 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1968, this reissue is a study of contemporary international economic policy, with particular emphasis upon economic integration as a means of bringing about a faster rate of economic progress and of helping to overcome poverty. Peter Robson’s book is a study of the rationale of common markets and other forms of economic integration among African states and of their operation in practice. The book will be of great value to those concerned with administering or assessing integration schemes in Africa and indeed in less developed areas throughout the world. In addition, it is an important contribution to the field of development economics.
Book Synopsis Central African Economic and Monetary Community (CEMAC) by : International Monetary Fund. African Dept.
Download or read book Central African Economic and Monetary Community (CEMAC) written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2016-04-22 with total page 60 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides detailed assessment of the Central African Economic and Monetary Community's (CEMAC’s) financial system. Over the past decade, primarily as a result of high oil prices, CEMAC achieved robust economic growth, although lower than the SSA average, but insufficient to significantly reduce poverty. A poor business climate and weak governance are hampering financial sector development and its contribution to financing investments. The weakness of regional integration also limits the growth potential. The drop in oil prices by about 60 percent between June 2014 and January 2015 has had a large impact on CEMAC countries’ macroeconomic performance.
Book Synopsis Central African Economic and Monetary Community (CEMAC) by : International Monetary Fund. African Dept.
Download or read book Central African Economic and Monetary Community (CEMAC) written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2019-07-09 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: The regional strategy has helped stabilize the regional economic position thanks to large fiscal consolidation efforts, a tighter monetary policy, and external financial assistance. The external position improved, and external reserves picked up. However, the region remains dependent on oil revenues, with little progress in economic diversification, under-performing budget non-oil revenues and weaknesses in the financial sector. The policy assurances included in BEAC’s letter of December 2018 were implemented as planned and the CEMAC authorities reiterated their full commitment to the strategy and their readiness to implement additional corrective measures if needed. Progress was made towards new IMF-supported program in Congo and Equatorial Guinea.
Author :International Monetary Fund Publisher :INTERNATIONAL MONETARY FUND ISBN 13 :9781451806533 Total Pages :18 pages Book Rating :4.8/5 (65 download)
Book Synopsis Central African Economic and Monetary Community: Selected Issues by : International Monetary Fund
Download or read book Central African Economic and Monetary Community: Selected Issues written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2006-08-22 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt: The creation, in 1994, of the Central African Economic and Monetary Community (CEMAC) customs union was a major step in the regional integration process in central Africa. The implementation of the agreed regime by the member countries, however, has remained unsatisfactory. A 2002-03 initiative to improve policy implementation has largely stalled. Several recent initiatives concerning external trade provide new challenges and opportunities for welfare-enhancing reforms. Although the 1994 reforms that created the CEMAC customs union were a major step forward, the trade regime remains plagued by poor implementation.
Book Synopsis Central African Economic and Monetary Community—Paper on Recent Developments and Regional Policy Issues; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director on Recent Developments and Regional Policy Issues in the Central African Economic and Monetary Community by : International Monetary Fund
Download or read book Central African Economic and Monetary Community—Paper on Recent Developments and Regional Policy Issues; Staff Supplement; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director on Recent Developments and Regional Policy Issues in the Central African Economic and Monetary Community written by International Monetary Fund and published by International Monetary Fund. This book was released on 2003-12-31 with total page 76 pages. Available in PDF, EPUB and Kindle. Book excerpt: Macroeconomic developments in the Central African Economic and Monetary Community (CEMAC) region have been satisfactory, but risks to macroeconomic stability persist. The process of convergence remains slow and needs strengthening, notably through the adoption of a fiscal rule and the elimination of bank financing of fiscal deficits. Continued efforts by the banking regulator are needed to strengthen the banking sector. There is a need to accelerate structural reforms, strengthen basic infrastructure, and adopt common sectoral policies aimed at diversifying the regional economy.
Download or read book CEMAC written by Weltbank and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Central African Economic and Monetary Community (CEMAC), which consists of Cameroon, the Central African Republic, Chad, the Republic of Congo, Equatorial Guinea and Gabon, is one of the oldest regional groupings in Africa. The main objectives for achieving this are: (i) the creation of a fully functional and effective customs union, (ii) the establishment of a robust system of macroeconomic surveillance, and (iii) the harmonization of sectoral policies and legal frameworks that will create a common market for goods, capital, and services.Despite this ambitious vision, regional integration in the CEMAC zone remains shallow.The oil price shock of 2014-15 severely affected the six CEMAC economies and promoted re-commitment to deepening regional integration.At the regional level, the PREF also aims to: (i) improve the coordination of public financial management (PFM) and fiscal policy; (ii) accelerate regional integration through improvements to the regional economic plan; (iii) improve the business climate; (iv) increase economic diversification; (v) enhance monetary policy transmission mechanisms; and (vi) improve prudential banking supervision.CEMAC is right to focus on reforms to deepening regional integration as a driver of growth.The objective of this Regional Study on CEMAC is to support policy makers in CEMAC in efforts to strengthen regional integration to support economic growth and to reduce the need for economic adjustment. The Regional Study focuses mainly on what can be done at the regional level to support regional integration, macro-stability and long-term growth in the CEMAC area; as such, the Regional Study aims to complement country-specific policies and initiatives to support macro-stabilization, economic development and integration.
Author :International Monetary Fund Publisher :INTERNATIONAL MONETARY FUND ISBN 13 :9781451806526 Total Pages :0 pages Book Rating :4.8/5 (65 download)
Book Synopsis Central African Economic and Monetary Community—Recent Developments and Regional Policy Issues by : International Monetary Fund
Download or read book Central African Economic and Monetary Community—Recent Developments and Regional Policy Issues written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2005-11-11 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper on recent developments and regional policy issues in the Central African Economic and Monetary Community (CEMAC) discusses the recent development and trends in economic integration. Trade restrictions and an uneven application of CEMAC rules constrain external and intraregional trade. CEMAC officials agreed that further trade growth will require renewed commitment to abide by common trading rules. CEMAC faces important structural challenges, such as the weak financial sectors in several member countries and the need to increase competitiveness in the non-oil segments of the region’s economies.
Book Synopsis Developing a Sustainable Economy in Cameroon by : Aloysius Ajab Amin
Download or read book Developing a Sustainable Economy in Cameroon written by Aloysius Ajab Amin and published by African Books Collective. This book was released on 2008 with total page 439 pages. Available in PDF, EPUB and Kindle. Book excerpt: Developing a Sustainable Economy in Cameroon is an ambitious effort as the authors try to set a blue print for Cameroon's economy. In the 1980s facing economic crisis, and as dictated by the structural adjustment programme, Cameroon sharply cut public investment expenditures before later cutting government consumption which were followed by privatisation, liquidation of public companies and reduction in the size of the public sector. All these measures are believed to have had devastating effects on the economy. Given the performance of the economy so far the authors suggest that much more effort, with a strong commitment of the main stakeholders, is required to guarantee sustainable economic development in Cameroon. Truly, very few countries in Africa possess such enormous human and natural resources as Cameroon does. This volume brings out the challenges Cameroon faces in its quest for development as well as for designing appropriate strategies for addressing those development challenges.
Book Synopsis Regional Integration and Trade in Africa by : Mthuli Ncube
Download or read book Regional Integration and Trade in Africa written by Mthuli Ncube and published by Springer. This book was released on 2014-12-21 with total page 258 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book reviews the current trends and challenges of regional integration and trade in Africa. It provides valuable policy recommendations aimed at stimulating the debate among the government, private sector and development community on the ways to promote regional trade for Africa's economic development.
Book Synopsis Monetary and Financial Systems in Africa by : Aloysius Ajab Amin
Download or read book Monetary and Financial Systems in Africa written by Aloysius Ajab Amin and published by Springer Nature. This book was released on 2022-05-26 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book provides an overview of the monetary and financial systems seen in Africa. The issues related to these systems are examined to help evaluate their effectiveness in fostering the development of African economies. Economic integration is extensively discussed to highlight variations between different parts of Africa and the specific challenges seen within certain regions. The impact of monetary unions, in particular the CFA franc zone, on economic activities is also explored. This book aims to outline how sustainable development can be achieved in Africa through well-developed financial and monetary institutions and policies. It will be relevant to students, academics and policy makers interested in African and development economics.
Download or read book CEMAC written by World Bank Group and published by . This book was released on 2018 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: The Central African Economic and Monetary Community (CEMAC), which consists of Cameroon, the Central African Republic, Chad, the Republic of Congo, Equatorial Guinea and Gabon, is one of the oldest regional groupings in Africa. The main objectives for achieving this are: (i) the creation of a fully functional and effective customs union, (ii) the establishment of a robust system of macroeconomic surveillance, and (iii) the harmonization of sectoral policies and legal frameworks that will create a common market for goods, capital, and services. Despite this ambitious vision, regional integration in the CEMAC zone remains shallow. The oil price shock of 2014-15 severely affected the six CEMAC economies and promoted re-commitment to deepening regional integration. At the regional level, the PREF also aims to: (i) improve the coordination of public financial management (PFM) and fiscal policy; (ii) accelerate regional integration through improvements to the regional economic plan; (iii) improve the business climate; (iv) increase economic diversification; (v) enhance monetary policy transmission mechanisms; and (vi) improve prudential banking supervision. CEMAC is right to focus on reforms to deepening regional integration as a driver of growth. The objective of this Regional Study on CEMAC is to support policy makers in CEMAC in efforts to strengthen regional integration to support economic growth and to reduce the need for economic adjustment. The Regional Study focuses mainly on what can be done at the regional level to support regional integration, macro-stability and long-term growth in the CEMAC area; as such, the Regional Study aims to complement country-specific policies and initiatives to support macro-stabilization, economic development and integration.
Book Synopsis The Effect of Monetary Policy on Household Consumption in Cameroon by : George Cheo Fuh
Download or read book The Effect of Monetary Policy on Household Consumption in Cameroon written by George Cheo Fuh and published by GRIN Verlag. This book was released on 2016-07-04 with total page 14 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research Paper (postgraduate) from the year 2014 in the subject Economics - Macro-economics, general, grade: 3.8/5, , course: MANAGEMENT, language: English, abstract: The study investigates the effect of monetary policy on household consumption in Cameroon between 1980 and 2010. The objective of the study is to find out the relationship between monetary policy on household consumption in Cameroon and to recommend policies to improve on household consumption in Cameroon. The study uses secondary time series annual data from World Bank Group Development indicators for Cameroon. The work uses economic model showing household final consumption expenditure as a function of monetary and quasi money growth, real interest rate, total reserve and Gross National Income per capita. Given the trends of the variables estimated results indicate that Total reserve as a ratio of GNP and GNI per capita positively and significantly affect household consumption. Monetary and quasi monetary growth has a negative impact on household consumption. Policy makers therefore need to encourage Total reserve and GNI per capita. It is therefore strongly recommended that instrument of monetary policy should be used in the economy as means of influencing household consumption.
Book Synopsis Central African Economic and Monetary Community by : International Monetary Fund. African Dept.
Download or read book Central African Economic and Monetary Community written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2024-06-28 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: The CEMAC’s economy lost some momentum in 2023 and the external position deteriorated somewhat, while inflation cooled but remained high. Updated statistics revealed a much more deteriorated fiscal situation than originally estimated. The near-term outlook is one of continued recovery, with growth projected at 3.6 percent in 2024, reflecting still-high oil prices and a strong rebound in oil output. In the medium term, however, sustained growth projected at the regional level masks divergences across the region, with weaker economic performance in countries with no program or off-track Fund-supported programs. In the absence of decisive corrective actions, and with current policies unchanged, fiscal and external imbalances are set to widen in the medium term, threatening to reverse reserve accumulation and add to financial stability risks.
