Towards a Single African Currency PDF Download
Are you looking for read ebook online? Search for your book and save it on your Kindle device, PC, phones or tablets. Download Towards a Single African Currency PDF full book. Access full book title Towards a Single African Currency by . Download full books in PDF and EPUB format.
Author:
Publisher:
ISBN:
Category : Africa
Languages : en
Pages : 98
Get Book Here
Book Description
Author:
Publisher:
ISBN:
Category : Africa
Languages : en
Pages : 98
Get Book Here
Book Description
Author: Eswar Prasad
Publisher: Brookings Institution Press
ISBN: 0815738544
Category : Business & Economics
Languages : en
Pages : 203
Get Book Here
Book Description
" Assessing the potential benefits and risks of a currency union Leaders of the fifteen-member Economic Community of West African States (ECOWAS) have set a goal of achieving a monetary and currency union by late 2020. Although some progress has been made toward achieving this ambitious goal, major challenges remain if the region is to realize the necessary macroeconomic convergence and establish the required institutional framework in a relatively short period of time. The proposed union offers many potential benefits, especially for countries with historically high inflation rates and weak central banks. But, as implementation of the euro over the past two decades has shown, folding multiple currencies, representing disparate economies, into a common union comes with significant costs, along with operational challenges and transitional risks. All these potential negatives must be considered carefully by ECOWAS leaders seeking tomeet a self-imposed deadline. This book, by two leading experts on economics and Africa, makes a significant analytical contribution to the debates now under way about how ECOWAS could achieve and manage its currency union, andthe ramifications for the African continent. "
Author:
Publisher:
ISBN:
Category : Africa
Languages : en
Pages :
Get Book Here
Book Description
Author: Paul R. Masson
Publisher: Rowman & Littlefield
ISBN: 9780815797531
Category : Business & Economics
Languages : en
Pages : 248
Get Book Here
Book Description
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
Author: Katharina Osterholt
Publisher: GRIN Verlag
ISBN: 3656196028
Category : Business & Economics
Languages : en
Pages : 22
Get Book Here
Book Description
Seminar paper from the year 2011 in the subject Business economics - Investment and Finance, grade: B bzw. 1.7, BI Norwegian Business School, course: Development Studies; Trade, Aid and Microfinance, language: English, abstract: This paper deals with the question whether a common currency is beneficial for the African Union. In order to assess this question, potential problems will be analysed and highlighted. The topic of a common currency becomes important in terms of economic growth that can facilitate sustainable development. The African Monetary Union is an economic and monetary union. The plan to introduce a common currency is based on the Abuja Treaty that was signed on 3.6.1991 in Abuja, Nigeria. In this treaty it was decided to set up an African Economic Community, an African Central Bank and an African Economic Community with a single currency by around 2020 (Masson, Milkiewicz, 2003). Up to today most countries have not signed this proposal as some decided to form their own currency unions, some want to delay the starting date and some are already using currencies from other countries. The paper will start looking at the advantages and disadvantages of a common currency and putting it into context with sustainable development. Here it can be highlighted that a successful and stable common currency can foster economic growth and therefore result in higher sustainable development. Further on, the paper looks into the theories of an Optimum Currency Area, Economic shocks, Spillover effects, currency adjustments and development traps. In order to analyze these theories the analysis part is looking into these using inflation rate data, GNI per capita and trade pattern provided by the IMF, the World Bank and UNECA, while contrasting it with the difficulties due to the development traps.
Author: Fanny Pigeaud
Publisher: Pluto Press (UK)
ISBN: 9780745341798
Category : Africa
Languages : en
Pages : 0
Get Book Here
Book Description
How the CFA Franc enabled France to continue its colonies in Africa.
Author: Bela Balassa
Publisher: Routledge
ISBN: 1136646310
Category : Business & Economics
Languages : en
Pages : 319
Get Book Here
Book Description
First published in 1962, The Theory of Economic Integration provides an excellent exposition of a complex and far-reaching topic. Professor Balassa has been remarkably successful in covering so much ground with such care and balance, in a treatment which is neither in any way abstruse nor unnecessarily technical. His book will interest economists in Europe by reason of its subject and treatment, but it is also a valuable and reliable textbook for students tackling integration as part of a course of International Economics and for those studying Public Finance. He distinguishes between the various forms of integration (free trade area, customs union, common market, economics union, and total integration). In addition, he applies the theoretical principles to current projects such as the European Common Market and Free Trade Area, and to Latin American integration projects. In offering this theoretical study, the author builds on the conclusions of other writers, but goes beyond this in providing a unifying framework for previous contributions and in exploring questions that in the past received little attention – in particular, the relationship between economic integration and growth (especially the interrelationship between market size and growth, and the implications of various factors for economic growth in an integrated area).
Author: Catherine Eagleton
Publisher: British Museum Research Public
ISBN:
Category : Antiques & Collectibles
Languages : en
Pages : 92
Get Book Here
Book Description
Featuring 12 papers from the 'Money in Africa' conference held at the British Museum, this volume brings together an interdisciplinary group of scholars to consider the role that money and trade plays in our understanding of African history. Ranging from the 10th century ad to the present day, the chapters cover the pre-colonial and colonial currencies of Africa, including copper, cowry shells, beads, manillas and gin; and coins, counterfeiting, banking and the symbolism of money in modern Africa.
Author: Emmanuel Tweneboah Senzu
Publisher: Eliva Press
ISBN: 9781636482736
Category :
Languages : en
Pages : 46
Get Book Here
Book Description
The Book recognizes and acknowledges the current failure of the ECOWAS vision 2020 to institute its Eco-currency union, and proceed to explore and develop an argument based on the existing studies of structured economic shocks, significant to the failure of the single currency union, and its major causal factors. And with observed structured analysis, proposed catalytic activator, as a method and a theoretical guide to attain the single currency union within three (3) years ahead, if the necessary requirement as the commitment level of members' State is applied towards the single currency unification program. It then elaborates in the spirit of precision the process required to sustain the Eco-currency program in other to elevate member States from its domestic currencies, struggling as a subservient economic bloc to the adoption of a new anticipated domineering currency in its own merit to shoulder with the global dominating hard currencies.
Author:
Publisher: UN
ISBN:
Category : Business & Economics
Languages : en
Pages : 166
Get Book Here
Book Description
The fifth of the series (ARIA/V) has come at a time of renewed enthusiasm for shortening the period of the vision of the Abuja Treaty. Its overall objective is to provide an analytical research publication that defines frameworks for African Governments, the African Union and the Regional Economic Communities, towards accelerating the establishment of the African Common Market through: the speedy removal of all tariff and non-tariff barriers, obstacles to free movement of people, investments and factors of production in general across Africa, and through fast-tracking the creation of an African continental Free Trade Area
