The book examines various aspects of Africa's external economy by focusing on regional monetary arrangements and how they are affected by devaluation episodes. It investigates the relationship between current account balances, trade balances and trade openness with respect to regional integration and regional growth patterns, discusses obstacles to a successful regional integration and paths to structural transformation, and studies the impact of economic partnership on inclusive development. The book addresses researchers and policymakers interested in development economies and African economic development.
The book examines various aspects of Africa's external economy by focusing on regional monetary arrangements and how they are affected by devaluation episodes. It investigates the relationship between current account balances, trade balances and trade openness with respect to regional integration and regional growth patterns, discusses obstacles to a successful regional integration and paths to structural transformation, and studies the impact of economic partnership on inclusive development. The book addresses researchers and policymakers interested in development economies and African economic development.
Focuses on the place of Southern Africa in the globalized economy. Identifies the overall economic trends in the African continent and the responses, required and actual, to the impact of an increasingly interdependent world economy.
The 2017 Economic Report on Africa focuses on the linkages between industrialization and urbanization. Urbanization is one of Africa mega trends with profound implications for the social, economic, environmental dimensions of growth and transformation. Theory and experience demonstrate that industrialization and urbanization can be mutually reinforcing processes. It is therefore imperative to explore the linkages between urbanization and industrialization given the profound implications for structural transformation in Africa. So far, current policy narratives and frameworks on structural transformation and industrialization in Africa have largely failed to factor in the spatial and urban dimensions of industrialization, and in particular the advantages presented by productivity enhancement and agglomeration effects generated by cities. Yet, the nexus between urbanization and industrialization is of particular relevance for Agenda 2063 and the 2030 Agenda on Sustainable Development. Both agendas recognize urbanization as a critical factor for sustainable development. It is also important to consider urbanization and industrialization in light of Africa's engagement with the Third United Nations Conference on Housing and Sustainable Urban Development (Habitat III) to be held in Quito, Ecuador in October 2016. In this context, African policy makers have clearly recognized urbanization as an engine of structural transformation for inclusive and sustainable growth.
This booklet is a collection of papers presented at a seminar on policies for growth in Africa, held in Paris in February 1995 and sponsored by the Ministry of Finance of Japan. The seminar focused on four broad themes: how to enable the private sector to play a lead role in the growth process in Africa; how to boost domestic savings and help the financial sector to contribute to the mobilization and efficient us of resources; how to facilitate foreign aid and make it more effective; and, what are the essential elements of sound debt management practices?
This Selected Issues paper assesses the appropriate level of international reserves for the Economic and Monetary Community of Central Africa. The management of the regional central bank’s (BEAC’s) international reserves is governed by monetary cooperation agreements with France. In view of current risks, it is suggested that the BEAC should define its target level of international reserves. The BEAC should have a framework that reflects fairly each member state’s contribution to the pooled reserves. The enforcement of the surrender requirement should be based on a finding of noncompliance even if the target level is achieved. The institutional framework for reserve management should also provide for the achievement of the target level.
Highly topical with the severe famine again in Sub-Saharan Africa Authors have many previous publications and a lot of experience in this area Book is drawn from an international conference on the responses to crises in Africa, at Stockholm School of Economics, supported by the Swedish International Development Authority
This Selected Issues paper focuses on the need of improving liquidity management and the operational framework of monetary policy in Central African Economic and Monetary Community (CEMAC). Disconnected policy and lending rates reflect the ineffective interest rate channel of monetary policy transmission while the shallow domestic banking system and the underdeveloped financial markets induce weaknesses of both the credit and asset price channels. In the absence of an efficient interest rate channel, liquidity plays an important role in the conduct of monetary policy. The CEMAC economy is vulnerable to external shocks and its banking system potentially exposed to liquidity shocks. Successful monetary policy implementation requires a set of appropriate instruments to cope with various liquidity shocks. The origins of the surplus liquidity should be well known upfront and addressed with a suitable combination of measures, including foreign exchange, fiscal and financial system development policies. The paper recommends that the Bank of Central African States should investigate all the means to centralize and analyze relevant information for autonomous factors forecasts, including daily operations of Treasuries and foreign exchange operations from its accounting system, as well as banknotes in circulation.
Africa welcomes business investment and offers some of the world's highest returns and impacts Africa has tremendous economic potential and offers rewarding opportunities for global businesses looking for new markets and long-term investments with favorable returns. Africa has been one of the world's fastest-growing regions over the past decade, and by 2030 will be home to nearly 1.7 billion people and an estimated $6.7 trillion worth of consumer and business spending. Increased political stability in recent years and improving regional integration are making market access easier, and business expansion will generate jobs for women and youth, who represent the vast majority of the population. Current economic growth and poverty-alleviation efforts mean that more than 43 percent of the continent's people will reach middle- or upper-class status by 2030. Unlocking Africa's Business Potential examines business opportunities in the eight sectors with the highest potential returns on private investment—the same sectors that will foster economic growth and diversification, job creation, and improved general welfare. These sectors include: consumer markets, agriculture and agriprocessing, information and communication technology, manufacturing, oil and gas, tourism, banking, and infrastructure and construction. The book's analysis of these sectors is based on case studies that identify specific opportunities for investment and growth, along with long-term market projections to inform decision-making. The book identifies potential risks to business and offers mitigation strategies. It also provides policymakers with solutions to attract new business investments, including how to remove barriers to business and accelerate development of the private sector.
