Read Books Online and Download eBooks, EPub, PDF, Mobi, Kindle, Text Full Free.
Impact Of The Global Financial Crisis On Exchange Rates And Policies In Sub Saharan Africa
Download Impact Of The Global Financial Crisis On Exchange Rates And Policies In Sub Saharan Africa full books in PDF, epub, and Kindle. Read online Impact Of The Global Financial Crisis On Exchange Rates And Policies In Sub Saharan Africa ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Book Synopsis Impact of the Global Financial Crisis on Exchange Rates and Policies in Sub-Saharan Africa by : Stella Kaendera
Download or read book Impact of the Global Financial Crisis on Exchange Rates and Policies in Sub-Saharan Africa written by Stella Kaendera and published by International Monetary Fund. This book was released on 2009-12-15 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the evolution of the exchange rates of sub-Saharan African currencies in the context of the global financial crisis. In particular, it analyzes the reasons behind the differences in the magnitude and volatility of the exchange rates among countries. To this end, it takes a sample of seven countries, four members of the East African Community (EAC) (Kenya, Rwanda, Tanzania, and Uganda), and three others, which experienced large exchange rate losses at the onset of the crisis: Ghana, Nigeria, and Zambia. First, it analyzes the movements of the exchange rates with respect to the U.S. dollar and two other major currencies. Second, it tries to link the magnitude of their movements to key factors, relating to the external environment and the countries’ internal policies.
Book Synopsis Africa and the Global Financial Crisis by : Reuben Adeolu Alabi
Download or read book Africa and the Global Financial Crisis written by Reuben Adeolu Alabi and published by LIT Verlag Münster. This book was released on 2011 with total page 458 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this volume of the African Development Perspectives Yearbook series, the Research Group on African Development Perspectives investigates the impact of the Global Financial Crisis (GFC) on economic reform processes in Africa. The analysis is structured in such a way so as to reflect the opportunities and dangers of policy reversals in the face of the GFC. The impact of the crisis on different types and forms of governance in the region is considered. The first question is therefore which macro-economic policy instruments have to be applied in order to overcome the crisis and to continue with sustainable development. The second question is how the GFC has affected Africa's external economic relations and if the path of opening up to the world markets is to be continued. The third question raised is how the crisis has affected social cohesion, impacted poverty alleviation strategies and the achievement of Millennium Development Goals (MDGs). All these questions are discussed in the various contributions which comprise general studies and country case studies. The book also looks into the role of international financial institutions during and after the crisis. (Series: African Development Perspectives Yearbook - Vol. 15)
Book Synopsis Global Financial Crisis by : Paolo Savona
Download or read book Global Financial Crisis written by Paolo Savona and published by Routledge. This book was released on 2016-04-22 with total page 351 pages. Available in PDF, EPUB and Kindle. Book excerpt: Out of the debate over the effectiveness of the policy responses to the 2008 global financial crisis as well as over the innovativeness of global governance comes this collection by leading academics and practitioners who explore the dynamics of economic crisis and impact. Edited by Paolo Savona, John J. Kirton, and Chiara Oldani Global Financial Crisis: Global Impact and Solutions examines the nature of the recent crisis, its consequences in major regions and countries, the innovations in the ideas, instruments and institutions that constitute national and regional policy responses, building on the G8's response at its L'Aquila Summit. Experts from Africa, North America, Asia and Europe examine the implications of those responses for international cooperation, coordination and institutional change in global economic governance, and identify ways to reform and even replace the architecture created in the mid 20th century in order to meet the global challenges of the 21st.
Book Synopsis Monetary Policy in Sub-Saharan Africa by : Andrew Berg
Download or read book Monetary Policy in Sub-Saharan Africa written by Andrew Berg and published by Oxford University Press. This book was released on 2018-03-16 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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; however most academic and policy work on monetary policy is aimed at much richer countries. Can economic models and methods invented for rich countries even be adapted and applied here? How does and should monetary policy work in sub-Saharan African? Monetary Policy in Sub-Saharan Africa answers these questions and provides practical tools and policy guidance to respond to the complex challenges of this region. Most countries in sub-Saharan Africa have made great progress in stabilizing inflation over the past two decades. As they have achieved a degree of basic macroeconomic stability, policymakers are looking to avoid policy misalignments and respond appropriately to shocks in order to achieve stability and growth. Officially, they often have adopted "money targeting" frameworks, a regime that has long disappeared from almost all advanced and even emerging-market discussions. In practice, though, they are in many cases finding current regimes lacking, with opaque and sometimes inconsistent objectives, inadequate transmission of policy to the economy, and difficulties in responding to supply shocks. Monetary Policy in Sub-Saharan Africa takes a new approach by applying dynamic general equilibrium models suitably adapted to reflect key features of low-income countries for the analysis of monetary policy in sub-Saharan African countries. Using a progressive approach derived from the International Monetary Fund's extensive practice and research, Monetary Policy in Sub-Saharan Africa seeks to address what we know about the empirics of monetary transmission in low-income countries, how monetary policy can work in countries characterized by underdeveloped financial markets and opaque policy regimes, and how we can use empirical and theoretical methods largely derived in advanced countries to answer these questions. It then uses these key topics to guide policymakers as they attempt to adjust food price, terms of trade, aid shocks, and the effects of the global financial crisis.
Book Synopsis Global Financial Crisis by : Chiara Oldani
Download or read book Global Financial Crisis written by Chiara Oldani and published by Ashgate Publishing, Ltd.. This book was released on 2013-03-28 with total page 348 pages. Available in PDF, EPUB and Kindle. Book excerpt: Out of the debate over the effectiveness of the policy responses to the 2008 global financial crisis as well as over the innovativeness of global governance comes this collection by leading academics and practitioners who explore the dynamics of economic crisis and impact. Edited by Paolo Savona, John J. Kirton, and Chiara Oldani Global Financial Crisis: Global Impact and Solutions examines the nature of the recent crisis, its consequences in major regions and countries, the innovations in the ideas, instruments and institutions that constitute national and regional policy responses, building on the G8's response at its L'Aquila Summit. Experts from Africa, North America, Asia and Europe examine the implications of those responses for international cooperation, coordination and institutional change in global economic governance, and identify ways to reform and even replace the architecture created in the mid 20th century in order to meet the global challenges of the 21st.
Book Synopsis Nonperforming Loans in Sub-Saharan Africa by : Hippolyte Fofack
Download or read book Nonperforming Loans in Sub-Saharan Africa written by Hippolyte Fofack and published by World Bank Publications. This book was released on 2005 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper investigates the leading causes of nonperforming loans during the economic and banking crises that affected a large number of countries in Sub-Saharan Africa in the 1990s. Empirical analysis shows a dramatic increase in these loans and extremely high credit risk, with significant differences between the CFA and non-CFA countries, and substantially higher financial costs for the latter sub-panel of countries. The results also highlight a strong causality between these loans and economic growth, real exchange rate appreciation, the real interest rate, net interest margins, and interbank loans consistent with the causality and econometric analysis, which reveal the significance of macroeconomic and microeconomic factors. The dramatic increase in these loans is largely driven by macroeconomic volatility and reflects the vulnerability of undiversified African economies, which remain heavily exposed to external shocks. Simulated results show that macroeconomic stability and economic growth are associated with a declining level of nonperforming loans; whereas adverse macroeconomic shocks coupled with higher cost of capital and lower interest margins are associated with a rising scope of nonperforming loans. These results are supported by long-term estimates of nonperforming loans derived from pseudo panel-based prediction models. "--World Bank web site.
Book Synopsis Macroeconomic Fluctuations in Sub-Saharan Africa by : Mr.Alexander W. Hoffmaister
Download or read book Macroeconomic Fluctuations in Sub-Saharan Africa written by Mr.Alexander W. Hoffmaister and published by International Monetary Fund. This book was released on 1997-07-01 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: The sources of macroeconomic fluctuations in sub–Saharan African are examined by comparing the CFA franc countries with the non–CFA franc countries. External shocks, especially terms of trade shocks, appear to have a greater influence on fluctuations of output and the real exchange rate in CFA franc countries. This result does not appear to be associated with differences in the economic structure but may reflect the fixed exchange rate regime, which does not (partially) buffer these countries from external shocks. Macroeconomic fluctuations in non–CFA franc countries are similar to those in other developing countries, particularly in Latin America.
Book Synopsis Sub-Saharan Africa by : Ms.Catherine A. Pattillo
Download or read book Sub-Saharan Africa written by Ms.Catherine A. Pattillo and published by International Monetary Fund. This book was released on 2006-08-28 with total page 62 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Regional Economic Outlook, October 2010, Sub-Saharan Africa by : International Monetary Fund. African Dept.
Download or read book Regional Economic Outlook, October 2010, Sub-Saharan Africa written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2010-10-25 with total page 117 pages. Available in PDF, EPUB and Kindle. Book excerpt: The October 2010 Regional Economic Outlook features: (i) an overview of economic developments and prospects in sub-Saharan Africa; (ii) an analytical assessment of how monetary policy changes are transmitted through the region's economies; and (iii) a study of why growth rates in the West African Economic and Monetary Union (WAEMU) have lagged behind other parts of sub-Saharan Africa. The overview highlights the broad-based economic recovery that is now under way in sub-Saharan Africa and projects growth of 5 percent in 2010 and 51⁄2 percent in 2011. It explores the resilience of most economies in the region to the global financial crises of 2007-09 and explains why sound economic policy implementation and a growing orientation of trade toward Emerging Asia are expected to continue to underpin growth. The second chapter provides evidence suggesting that monetary policy may have more power to influence monetary conditions than previously assumed. Main messages from the WAEMU study are the importance of strong policy environments and political stability for achieving sustained growth; and of robust fiscal frameworks for directing resources towards priority spending needs.
Book Synopsis COVID-19 and the Response of Central Banks by : Salewa Olawoye
Download or read book COVID-19 and the Response of Central Banks written by Salewa Olawoye and published by Edward Elgar Publishing. This book was released on 2023-01-20 with total page 175 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book FDI to Africa written by Kenneth Rogoff and published by International Monetary Fund. This book was released on 2003 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt: Africa lags behind other regions in attracting foreign direct investment (FDI). In some circumstances, there are obvious explanations for the absence of FDI, such as a high incidence of war. In this paper, we examine the role that monetary and exchange rate policy may have played in explaining this outcome. Specifically, we document the incidence of inflationary episodes and currency crashes in order to compare countries within the region as well as to make comparisons with other regions. Furthermore, since monetary policy can range from very transparent to very opaque, we assess Africa's track record with dual and parallel markets. We use the parallel market premia as an indicator of the degree of distortions and extent of transparency. Our findings suggest that this is a promising line of inquiry because Africa does stand apart from other regions in this measure of transparency. We also discuss some of the fiscal underpinnings of Africa's bouts with high inflation.
Book Synopsis Dollarization in Sub-Saharan Africa by : Mr.Mauro Mecagni
Download or read book Dollarization in Sub-Saharan Africa written by Mr.Mauro Mecagni and published by International Monetary Fund. This book was released on 2015-05-15 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dollarization—the use of foreign currencies as a medium of exchange, store of value, or unit of account—is a notable feature of financial development under macroeconomically fragile conditions. It has emerged as a key factor explaining vulnerabilities and currency crises, which have long been observed in Latin America, parts of Asia, and Eastern Europe. Dollarization is also present, prominently, in sub-Saharan Africa (SSA) where it remains significant and persistent at over 30 percent rates for both bank loans and deposits—although it has not increased significantly since 2001. However, progress in reducing dollarization has lagged behind other regions and, in this regard, it is legitimate to ask whether this phenomenon is an important concern in SSA. This study fills a gap in the literature by analyzing these issues with specific reference to the SSA region on the basis of the evidence for the past decade.
Book Synopsis Fiscal Policy in Sub-Saharan Africa in Response to the Impact of the Global Crisis by : Norbert Funke
Download or read book Fiscal Policy in Sub-Saharan Africa in Response to the Impact of the Global Crisis written by Norbert Funke and published by INTERNATIONAL MONETARY FUND. This book was released on 2009-05-14 with total page 18 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Exchange Rate Liberalization in Selected Sub-Saharan African Countries Successes, Failures, and Lessons by : Mr.Nils Øyvind Mæhle
Download or read book Exchange Rate Liberalization in Selected Sub-Saharan African Countries Successes, Failures, and Lessons written by Mr.Nils Øyvind Mæhle and published by International Monetary Fund. This book was released on 2013-01-31 with total page 71 pages. Available in PDF, EPUB and Kindle. Book excerpt: Many sub-Saharan African (SSA) countries liberalized their economies in the 1980s and early 1990s. This paper reviews the foreign exchange regime reforms in selected SSA, and their associated macroeconomic policies and economic performance during and after these reforms were undertaken. Before liberalization, most of the reviewed countries were characterized by extensive foreign exchange rationing, sizeable black market premiums, and declining per capita real income. Today, the countries that successfully reformed look markedly different. Rationing and parallel market spreads are a distant memory, and per capita income has increased sharply.
Book Synopsis Global Financial Transmission into Sub-Saharan Africa – A Global Vector Autoregression Analysis by : Mr. Jorge Iván Canales Kriljenko
Download or read book Global Financial Transmission into Sub-Saharan Africa – A Global Vector Autoregression Analysis written by Mr. Jorge Iván Canales Kriljenko and published by International Monetary Fund. This book was released on 2014-12-29 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Sub-Saharan African countries are exposed to spillovers from global financial variables, but the impact on economic activity is more significant in more financially developed economies. Generalized impulse responses from a GVAR exercise demonstrate how the CBOE volatility index (VIX) and credit conditions around the globe impact a subset of sub-Saharan African economies and regions. The estimated relationships suggest that the effect of global uncertainty is more pervasive in exports, with the impact on economic and lending activities being mixed. The channels of transmission include the effects of global financial variables on commodity prices and on trading-partner’s macroeconomic and financial variables. The analysis suggests that shocks to credit conditions in the euro area and the U.S. have not significantly affected local lending conditions or economic activity in sub-Saharan Africa during 1991-2011, except perhaps in South Africa.
Book Synopsis Effect of Exchange Rate Movements on Inflation in Sub-Saharan Africa by : Laurent Kemoe
Download or read book Effect of Exchange Rate Movements on Inflation in Sub-Saharan Africa written by Laurent Kemoe and published by International Monetary Fund. This book was released on 2024-03-15 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides new evidence on the exchange rate passthrough to domestic inflation in Sub-Saharan Africa (SSA) using both bilateral US dollar exchange rate and the nominal effective exchange rate (NEER), and monthly data. We find that depreciations cause sizable increases in domestic inflation. The passthrough in SSA is higher than in other regions and its magnitude depends on the exchange rate regime, type of exchange rate (bilateral versus NEER), natural resource endowment and domestic market competitiveness. The passthrough is found to be disproportionately larger and more persistent for large depreciation shocks, and for exchange rate changes that are more persistent. We also find evidence of asymmetry, with passthrough eight times stronger during depreciations than appreciations. Additional findings suggest that improved monetary policy effectiveness is an important driver of our observed declining estimates of exchange rate passthrough over time, supporting the long-standing view that strengthening monetary policy frameworks and credibility helps mitigate the impact of depreciations on inflation.
Book Synopsis Global Waves of Debt by : M. Ayhan Kose
Download or read book Global Waves of Debt written by M. Ayhan Kose and published by World Bank Publications. This book was released on 2021-03-03 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The global economy has experienced four waves of rapid debt accumulation over the past 50 years. The first three debt waves ended with financial crises in many emerging market and developing economies. During the current wave, which started in 2010, the increase in debt in these economies has already been larger, faster, and broader-based than in the previous three waves. Current low interest rates mitigate some of the risks associated with high debt. However, emerging market and developing economies are also confronted by weak growth prospects, mounting vulnerabilities, and elevated global risks. A menu of policy options is available to reduce the likelihood that the current debt wave will end in crisis and, if crises do take place, will alleviate their impact.
