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The Common Monetary Area In Southern Africa
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Book Synopsis The Monetary Geography of Africa by : Paul R. Masson
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 Pan-African Banks written by and published by . This book was released on 2015 with total page 102 pages. Available in PDF, EPUB and Kindle. Book excerpt: Pan-African banks are expanding rapidly across the continent, creating cross-border networks, and having a systemic presence in the banking sectors of many Sub-Saharan African countries. These banking groups are fostering financial development and economic integration, stimulating competition and efficiency, introducing product innovation and modern management and information systems, and bringing higher skills and expertise to host countries. At the same time, the rise of pan-African banks presents new challenges for regulators and supervisors. As networks expand, new channels for transmission of macro-financial risks and spillovers across home and host countries may emerge. To ensure that the gains from cross border banking are sustained and avoid raising financial stability risks, enhanced cross-border cooperation on regulatory and supervisory oversight is needed, in particular to support effective supervision on a consolidated basis. This paper takes stock of the development of pan-African banking groups; identifies regulatory, supervisory and resolution gaps; and suggests how the IMF can help the authorities address the related challenges.
Book Synopsis The CFA Franc Zone by : Ms.Anne Marie Gulde
Download or read book The CFA Franc Zone written by Ms.Anne Marie Gulde and published by International Monetary Fund. This book was released on 2008-04-02 with total page 411 pages. Available in PDF, EPUB and Kindle. Book excerpt: About one-third of countries covered by the IMF's African Department are members of the CFA franc zone. With most other countries moving away from fixed exchange rates, the issue of an adequate policy framework to ensure the sustainability of the CFA franc zone is clearly of interest to policymakers and academics. However, little academic research exists in the public domain. This book aims to fill this void by bringing together work undertaken in the context of intensified regional surveillance and highlighting the current challenges and the main policy requirements if the arrangements are to be carried forward. The book is based on empirical research by a broad group of IMF economists, with contributions from several outside experts.
Book Synopsis The Common Monetary Area in Southern Africa by : Jian-Ye Wang
Download or read book The Common Monetary Area in Southern Africa written by Jian-Ye Wang and published by . This book was released on 2007 with total page 70 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
Book Synopsis Competition Law and Economic Regulation in Southern Africa by : Imraan Valodia
Download or read book Competition Law and Economic Regulation in Southern Africa written by Imraan Valodia and published by NYU Press. This book was released on 2017-07-04 with total page 312 pages. Available in PDF, EPUB and Kindle. Book excerpt: Shaping markets through competition and economic regulation is at the heart of addressing the development challenges facing countries in southern Africa. The contributors to Competition Law and Economic Regulation: Addressing Market Power in southern Africa critically assess the efficacy of the competition and economic regulation frameworks, including the impact of a number of the regional competition authorities in a range of sectors throughout southern Africa. Featuring academics as well as practitioners in the field, the book addresses issues common to southern African countries, where markets are small and concentrated, with particularly high barriers to entry, and where the resources to enforce legislation against anti-competitive conduct are limited. What is needed, the contributors argue, is an understanding of competition and regional integration as part of an inclusive growth agenda for Africa. By examining competition and regulation in a single framework, and viewing this within the southern African experience, this volume adds new perspectives to the global competition literature. It is an essential reference tool and will be of great interest to policymakers and regulators, as well as the rapidly growing ecosystem of legal practitioners and economists engaged in the field.
Book Synopsis Monetary Union in West Africa (ECOWAS) by : Paul R. Masson
Download or read book Monetary Union in West Africa (ECOWAS) written by Paul R. Masson and published by . This book was released on 2001 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: In April 2000 six West African countries declared their intention to proceed to monetary union among the non-CFA franc countries of the region by January 2003, as a first step toward a wider monetary union including all the ECOWAS countries in 2004. The purpose of this paper is to evaluate whether a monetary union makes economic sense, to discuss the institutional requirements for successful monetary union and to consider how best the political momentum for a union can be channeled toward a fundamental improvement in underlying policies.
Book Synopsis Payment Systems in the Southern African Development Community by :
Download or read book Payment Systems in the Southern African Development Community written by and published by . This book was released on 1999 with total page 278 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Benefits and Costs of Monetary Union in Southern Africa by : G. S. Tavlas
Download or read book The Benefits and Costs of Monetary Union in Southern Africa written by G. S. Tavlas and published by . This book was released on 2022 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the 14 members of the Southern African Development Community (SADC) having set the objective of adopting a common currency for the year 2018, an expanding empirical literature has emerged evaluating the benefits and costs of a common-currency area in Southern Africa. This paper reviews that literature, focusing on two categories of studies: (1) those that assume that a country's characteristics are invariant to the adoption of a common currency; and, (2) those that assume that a monetary union alters an economy's structure, resulting in trade creation and credibility gains. The literature review suggests that a relative-small group of countries, typically including South Africa, satisfies the criteria necessary for monetary unification. The literature also suggests that, in a monetary union comprised of all SADC countries and a regional central bank that sets monetary policy to reflect the average economic conditions (e.g., fiscal balances) in the region, the potential losses (i.e., higher inflation) from giving up an existing credible national central bank, a relevant consideration for South Africa, could outweigh any potential benefits of trade creation resulting from a common currency.
Book Synopsis Economics of South African Townships by : Sandeep Mahajan
Download or read book Economics of South African Townships written by Sandeep Mahajan and published by World Bank Publications. This book was released on 2014-08-25 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: Countries everywhere are divided within into two distinct spatial realms: one urban, one rural. Classic models of development predict faster growth in the urban sector, causing rapid migration from rural areas to cities, lifting average incomes in both places. The situation in South Africa throws up an unconventional challenge. The country has symptoms of a spatial realm that is not not rural, not fully urban, lying somewhat in limbo. This is the realm of the country’s townships and informal settlements (T&IS). In many ways, the townships and especially the informal settlements are similar to developing world slums, although never was a slum formed with as much central planning and purpose as were some of the larger South African townships. And yet, there is something distinct about the T&IS. For one thing, unlike most urban slums, most T&IS are geographically distant from urban economic centers. Exacerbated by the near absence of an affordable public transport system, this makes job seeking and other forms of economic integration prohibitively expensive. Motivated by their uniqueness and their special place in South African economic and social life, this study seeks to develop a systematic understanding of the structure of the township economy. What emerges is a rich information base on the migration patterns to T&IS, changes in their demographic profiles, their labor market characteristics, and their access to public and financial services. The study then look closely at Diepsloot, a large township in the Johannesburg Metropolitan Area, to bring out more vividly the economic realities and choices of township residents. Given the current dichotomous urban structure, modernizing the township economy and enabling its convergence with the much richer urban centers has the potential to unleash significant productivity gains. Breaking out of the current low-level equilibrium however will require a comprehensive and holistic policy agenda, with significant complementarities among the major policy reforms. While the study tells a rich and coherent story about development patterns in South African townships and points to some broad policy directions, its research and analysis will generally need to be deepened before being translated into direct policy action.
Book Synopsis Confronting the Region by : Sanusha Naidu
Download or read book Confronting the Region written by Sanusha Naidu and published by HSRC Press. This book was released on 2004 with total page 80 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mindful of the future economic and social sustainability of the region, as well as the subcontinent's future in terms of the African Renaissance, this study provides an analysis of the developmental and institutional opportunities and challenges that confront southern Africa.
Book Synopsis Contemporary Migration to South Africa by : Aurelia Segatti
Download or read book Contemporary Migration to South Africa written by Aurelia Segatti and published by World Bank Publications. This book was released on 2011-08-23 with total page 207 pages. Available in PDF, EPUB and Kindle. Book excerpt: Building on global interest in migration development, the volume draws attention to one of the most important migration systems in sub-Saharan Africa. It reviews South Africa’s approach to international migration in the post-apartheid period from a regional development perspective, highlighting key policy issues, debates, and consequences. The authors find at least three areas where migration is resulting in important development impacts. First, by offering options to those affected by conflict and crises in a region that has limited formal disaster management and social protection systems. Second, by mitigating shortcomings and distortions in regional labour markets. Third, by providing support to struggling rural economies and ever expanding urban areas in terms of livelihoods and social capital transfers. Chapter One consists of a study of the country’s historical experience of migration and, in particular, analyses the changes in official attitudes throughout the twentieth century, indicating the roots of contemporary ideas and policy dilemmas. Chapters Two, Three, Four and Five complement this analysis of the South African State’s capacity to reform and manage the South African migration situation by looking at often neglected dimensions: the first explores the question of skilled labour, a crucial question given the unbalanced structure of the South African labour market; the second examines the impact of migration on local government in South African cities and specifically implications for urban planning, service delivery, health, security, and political accountability; the third analyses the nature of undocumented migration to South Africa and the challenges it raises to both State and non-State actors; The book concludes with an examination of health as a critical issue when examining the relationship between migration and development in South Africa, in light of recent empirical data.
Author :International Monetary Fund Publisher :International Monetary Fund ISBN 13 :1451840934 Total Pages :133 pages Book Rating :4.4/5 (518 download)
Book Synopsis South Africa by : International Monetary Fund
Download or read book South Africa written by International Monetary Fund and published by International Monetary Fund. This book was released on 1997-10-03 with total page 133 pages. Available in PDF, EPUB and Kindle. Book excerpt: This Selected Issues paper highlights that aided by the easing of political uncertainties after the national elections in early 1994 and by the cautious stance of policies adopted by the new administration, economic performance and investor sentiment in South Africa strengthened markedly. Nonagricultural value-added grew by 4 percent in 1995, led by a sharp increase in real gross private fixed investment. In contrast, developments in 1996 were characterized by a shift in investor sentiment and unrest in the foreign exchange markets.
Book Synopsis Collaborative capacity development to complement stroke rehabilitation in Africa by : Quinette Louw
Download or read book Collaborative capacity development to complement stroke rehabilitation in Africa written by Quinette Louw and published by AOSIS. This book was released on 2020-12-31 with total page 536 pages. Available in PDF, EPUB and Kindle. Book excerpt: This scholarly book focuses on stroke in Africa. Stroke is a leading cause of disability among adults of all ages, contributing significantly to health care costs related to long term implications, particularly if rehabilitation is sub-optimal. Given the burden of stroke in Africa, there is a need for a book that focuses on functioning African stroke survivors and the implications for rehabilitation within the African context. In addition, there is a need to progress with contextualised, person-centred, evidence-based guidance for the rehabilitation of people with stroke in Africa, thereby enabling them to lead socially and economically meaningful lives. The research incorporated in the book used a range of primary and secondary methodological approaches (scoping reviews, systematic reviews, meta-analyses, descriptive studies, surveys, health economics, and clinical practice guideline methodology) to shed new insights into African-centred issues and strategies to optimise function post-stroke.
Book Synopsis Aging in Sub-Saharan Africa by : National Research Council
Download or read book Aging in Sub-Saharan Africa written by National Research Council and published by National Academies Press. This book was released on 2006-11-10 with total page 368 pages. Available in PDF, EPUB and Kindle. Book excerpt: In sub-Saharan Africa, older people make up a relatively small fraction of the total population and are supported primarily by family and other kinship networks. They have traditionally been viewed as repositories of information and wisdom, and are critical pillars of the community but as the HIV/AIDS pandemic destroys family systems, the elderly increasingly have to deal with the loss of their own support while absorbing the additional responsibilities of caring for their orphaned grandchildren. Aging in Sub-Saharan Africa explores ways to promote U.S. research interests and to augment the sub-Saharan governments' capacity to address the many challenges posed by population aging. Five major themes are explored in the book such as the need for a basic definition of "older person," the need for national governments to invest more in basic research and the coordination of data collection across countries, and the need for improved dialogue between local researchers and policy makers. This book makes three major recommendations: 1) the development of a research agenda 2) enhancing research opportunity and implementation and 3) the translation of research findings.
Book Synopsis The Economics of the Common Monetary Area in Southern Africa by : John Stuart
Download or read book The Economics of the Common Monetary Area in Southern Africa written by John Stuart and published by . This book was released on 1992 with total page 190 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Southern African Development Community by : Gabriël H. Oosthuizen
Download or read book The Southern African Development Community written by Gabriël H. Oosthuizen and published by . This book was released on 2006 with total page 408 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book, published in July 2006, significantly complements the burgeoning literature on regional integration in Africa. It is the most up-to-date guide to SADC's history and institutions, its policies and programmes, legal underpinnings and position in unfolding continental and global affairs. It offers a frank analysis of SADC's shortcomings, achievements and prospects and reviews its extensive restructuring.
Book Synopsis Optimum Currency Areas: A Monetary Union for Southern Africa by : Christian Sorgenfrei
Download or read book Optimum Currency Areas: A Monetary Union for Southern Africa written by Christian Sorgenfrei and published by Diplomica Verlag. This book was released on 2011-03 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt: With the current situation in the European Monetary Union in mind, a Monetary Union in other parts of the world seems highly inadvisable. Nevertheless, Africa has some of the oldest Monetary arrangements in the world, dating back to the beginning of the 19th century. Is Africa particularly qualified for a Monetary Union? And furthermore, what features are necessary to make Monetary Arrangements between countries endurable? This study evaluates the prospects and the feasibility of a monetary union in the Southern African Development Community (SADC) from an economic point of view. Both the theory of optimum currency areas and the recent example of the European Monetary Union are employed to analyze the pros and cons of monetary unification. The theoretical implications are operationalized, first, by a broad analysis of economic and socio graphic data, and second, by estimating the degree of structural shock synchronization between SADC countries. Results obtained by an Autoregressive and Vector Autoregressive model indicate that a monetary union which includes all SADC members is neither desirable nor feasible in the foreseeable future. However, the study concludes that a small subset of countries, including South Africa, Namibia, Swaziland, Lesotho, Mozambique, Botswana and Zambia, could gain from forming a smaller monetary union.
