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Information Asymmetry And Financial Dollarization In Sub Saharan Africa
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Book Synopsis Information Asymmetry and Financial Dollarization in Sub-Saharan Africa by : Simplice Asongu
Download or read book Information Asymmetry and Financial Dollarization in Sub-Saharan Africa written by Simplice Asongu and published by . This book was released on 2018 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial dollarization in Sub-Saharan Africa is the most persistent compared to other regions of the world. This study complements the existing scant literature on dollarization in Africa by assessing the role of information sharing offices (public credit registries and private credit bureaus) on financial dollarization in 26 countries of SSA for the period 2001-2012. The empirical evidence is based on Ordinary Least Squares (OLS) and Generalised Method of Moments (GMM). The findings show that information sharing offices (which are designed to reduce information asymmetry) in the banking industry are a deterrent to dollarization. Policy implications are discussed.
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 Dollarization in Sub-Saharan Africa:Experiences and Lessons by :
Download or read book Dollarization in Sub-Saharan Africa:Experiences and Lessons written by and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Dollarization in Sub-Saharan Africa by : Mauro Mecagni
Download or read book Dollarization in Sub-Saharan Africa written by Mauro Mecagni and published by . This book was released on 2016-03 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Financial Deepening in Sub-Saharan Africa by : Calvin A. McDonald
Download or read book Financial Deepening in Sub-Saharan Africa written by Calvin A. McDonald and published by International Monetary Fund. This book was released on 2007-08 with total page 32 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper investigates the role of creditor rights and information sharing in explaining why some financial markets in sub-Saharan Africa have remained shallow. The paper finds that while financial liberalization and macroeconomic stability promote financial deepening, they are not enough. For countries with similar financial liberalization efforts, those with stronger legal institutions and information sharing have deeper financial development. This result is consistent with a growing body of research for other regions of the world. The main policy implications are that (1) creditor rights legislation should be reinforced, the law reformed, and efficient property registries established; and (2) governments should sponsor credit bureaus where private bureaus might not be commercially viable.
Book Synopsis Extending the Determinants of Dollarization in Sub-Saharan Africa by : Ibrahim Raheem
Download or read book Extending the Determinants of Dollarization in Sub-Saharan Africa written by Ibrahim Raheem and published by . This book was released on 2018 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study argues that the ease at which economic agents have access to foreign earnings would influence/increase the level of dollarization in the economy. The three sources of foreign currency earnings are financial integration, trade openness and natural resource rent. As such, we extend the determinants of dollarization to capture these variables. A dataset of 26 countries in sub-Saharan Africa (SSA) for the period 2001-2012 was built. Based on Tobit regression, we found that all the proxies of foreign currency earning, with the exception of natural resource rent, are significant contributors to the increasing rate of dollarization. Specifically, it was found that trade openness and financial liberalization are positive determinants of dollarization, while natural resource rent serves as drag to the dollarization process. These results remain valid to three robustness tests. Policy implications and suggestions for future research were proposed.
Book Synopsis Business-to-Business Marketing by : Richard Afriyie Owusu
Download or read book Business-to-Business Marketing written by Richard Afriyie Owusu and published by CRC Press. This book was released on 2021-05-17 with total page 400 pages. Available in PDF, EPUB and Kindle. Book excerpt: Business-to-Business Marketing: An African Perspective: How to Understand and Succeed in Business Marketing in an Emerging Africa is a comprehensive application of the most current research results, concepts and frameworks to the African business-to-business (B-to-B) context. The chapters are designed to provide the reader with a thorough analysis of b-to-b. Important aspects like competitive strategy in B-to-B, marketing mix strategies, relationship management and collaboration, business services, big data analysis, and emerging issues in B-to-B are discussed with African examples and cases. As a result, the book is easy to read and pedagogical. It is suitable for courses at universities and other tertiary levels, undergraduate and graduate courses, MBA and professional B-to-B marketing programmes. Working managers will find it a useful reference for practical insights and as a useful resource to develop and implement successful strategies. The Authors Collectively the four authors have over 60 years of teaching and research in B-to-B marketing and management in and outside Africa. They have the managerial and consulting experience that has enabled them to combine theory with practice. Their experience and knowledge provide the needed background to uniquely integrate teaching and research with the realities of the African B-to-B market. Their command of and insight into the subject are unparalleled.
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 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
Book Synopsis An Empirical Assessment of the Exchange Rate Pass-through in Mozambique by : International Monetary Fund
Download or read book An Empirical Assessment of the Exchange Rate Pass-through in Mozambique written by International Monetary Fund and published by International Monetary Fund. This book was released on 2021-05-06 with total page 34 pages. Available in PDF, EPUB and Kindle. Book excerpt: Determining the magnitude and speed of the exchange rate passthrough (ERPT) to inflation has been of paramount importance for policy-makers in developed and emerging economies. This paper estimates the exchange rate passthrough in Mozambique using econometric techniques on a sample spanning from 2001 to 2019. Results suggest that the ERPT is assymetric, sizable and fast, with 50 percent of the exchange rate variations passing through to prices in less than six months. Policy-makers should continue to pursue low and stable inflation and develop a strong track record of prudent macroeconomic policies for the ERPT to decline.
Book Synopsis Diaspora for Development in Africa by : Sonia Plaza
Download or read book Diaspora for Development in Africa written by Sonia Plaza and published by World Bank Publications. This book was released on 2011 with total page 358 pages. Available in PDF, EPUB and Kindle. Book excerpt: The diaspora of developing countries can be a potent force for development, through remittances, but more importantly, through promotion of trade, investment, knowledge and technology transfers. The book aims to consolidate research and evidence on these issues with a view to formulating policies in both sending and receiving countries.
Book Synopsis Unlocking Credit by : Inter-American Development Bank
Download or read book Unlocking Credit written by Inter-American Development Bank and published by IDB. This book was released on 2004 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: Annotation Bank loans are the main source of credit for businesses across Latin America, so understanding what determines the depth, cost, and volatility of bank credit is crucial to designing strategies that ensure financial stability and promote growth. This new edition of Economic and Social Progress in Latin America provides a comprehensive analysis of the region's all-important banking industry. The book examines two-way interactions between macroeconomic policies and financial intermediation -- not only how these policies affect banking but how banks weather intermediate shocks, and how industry incentives can prompt bank portfolio choices that influence economic policy. The report also discusses how elements of a financial safety net -- including deposit insurance, prudential regulation, protection of creditor rights, and legal and judicial enforcement -- can mitigate factors that make credit more volatile and constrain its expansion. Finally, the report studies how the banking industry's market structure affects its performance. Particular attention is given to the role of government- versus foreign-owned banks, access to credit by small and medium-sized enterprises, and the development of mortgage credit markets.
Book Synopsis Gender and Economic Growth in Tanzania by :
Download or read book Gender and Economic Growth in Tanzania written by and published by World Bank Publications. This book was released on 2007 with total page 164 pages. Available in PDF, EPUB and Kindle. Book excerpt: While Tanzania has been at the forefront of creating a positive legal framework and political context for gender equality, certain legal, regulatory, and administrative barriers still hinder women's full participation in private sector development. This report analyzes these barriers and makes recommendations for needed change, to ensure women's full contribution to private sector development and economic growth in Tanzania. Building on intensive stakeholder consultations and the findings of numerous studies, notably the MKURABITA diagnostic and the 2003/4 Investment Climate Assessments for Tanzania and Zanzibar, this report examines these gender-related barriers to growth and investment. It highlights legal and administrative constraints that have a disproportionately negative effect on female-headed businesses, and makes recommendations for needed reforms. Addressing these issues would not only help unlock the full economic potential of women, but would help improve the environment for all businesses in Tanzania. While Tanzania's economic growth has been strong, this report finds that if the country were to bring female secondary schooling and female total years of schooling to the same level as now enjoyed by males, this could produce up to an additional annual percentage point of growth - a valuable contribution to achieving the 6-8 percent annual growth targets of the National Strategy for Growth and Reduction of Poverty (NSGRP or MKUKUTA).
Book Synopsis Dollarization by : Eduardo Levy Yeyati
Download or read book Dollarization written by Eduardo Levy Yeyati and published by MIT Press. This book was released on 2003 with total page 364 pages. Available in PDF, EPUB and Kindle. Book excerpt: Theoretical and empirical analysis of de jure dollarization. With the persistent instability of international financial markets, emerging economies are exploring new ways to reduce exposure to capital flow volatility. Some analysts argue that financially open economies are best served by more flexible regimes, while others argue in favor of extreme exchange rate regimes that have a strong commitment to a fixed parity or dispense with an independent currency. The successful launch of the euro has made more realistic the prospect of replacing a national currency with a strong foreign one. Recent examples include the adoption of the US dollar by Ecuador and El Salvador. The introduction of a foreign currency as sole legal tender, termed full (de jure) dollarization, has been the center of much political and academic debate. This book provides a comprehensive analysis of the issues from both theoretical and empirical perspectives. The topics discussed include the role of balance sheet effects, the linkage between currency risk and country risk, the impact of dollarization on trade, financial integration and credibility, the implications of dollarization for the lender of last resort, and the institutional and political economy aspects of dollarization.
Book Synopsis Access to Financial Services by : Stijn Claessens
Download or read book Access to Financial Services written by Stijn Claessens and published by World Bank Publications. This book was released on 2005 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: "This paper reviews the evidence on the importance of finance for economic well-being, provides data on the degree of use of basic financial services by households and firms across a sample of countries, assesses the desirability of more universal access, and overviews the macroeconomic, legal, and regulatory obstacles to access using general evidence and case studies. Although access to finance can be very beneficial, the data show that universal use is far from prevalent in many countries, especially developing countries. At the same time, universal access has generally not been a public policy objective and is surely not easily achievable in most countries.
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 524 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 Financial Inclusion in Asia-Pacific by : Ms.Elena Loukoianova
Download or read book Financial Inclusion in Asia-Pacific written by Ms.Elena Loukoianova and published by International Monetary Fund. This book was released on 2018-09-18 with total page 139 pages. Available in PDF, EPUB and Kindle. Book excerpt: Asia has made significant progress in financial inclusion, but both its across-country and intra-country disparities are among the highest in the world. The gaps between the rich and the poor, rural and urban populations, and men and women remain deep. Income is the main determinant of the level of financial inclusion; but other factors, such as geography, financial sector structure, and policies, also play important roles. While some countries in the Asia-Pacific region are leaders in fintech, on average the region lags behind others in several important areas such as online (internet) purchases, electronic payments, mobile money, and mobile government transfers. This Departmental Paper aims to take stock of the development and current state of financial inclusion and shed light on policies to advance financial inclusion in the region. The research focuses on the impact of financial inclusion on economic growth, poverty reduction, and inequality, linkages between financial inclusion and macroeconomic policies, as well as structural policies that are important for improving financial inclusion. Given the increasing importance of financial technologies (fintech), the paper also provides a snapshot of the fintech landscape in the Asia-Pacific.
