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Author: Eswar Prasad
Publisher: Brookings Institution Press
ISBN: 0815738544
Category : Business & Economics
Languages : en
Pages : 203
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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: 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: UN
ISBN:
Category : Business & Economics
Languages : en
Pages : 166
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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
Author: United Nations
Publisher: UN
ISBN: 9789211251371
Category : Business & Economics
Languages : en
Pages : 288
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Book Description
Signed by 52 African countries, the African Continental Free Trade Area (AfCFTA) is, by the number of participating countries, the largest trade agreement since the formation of the WTO. This report recognizes that it is not enough for the AfCFTA to be merely negotiated, concluded and ratified. It must also change lives, reduce poverty and contribute to economic development. For this, the AfCFTA must be effectively operationalized, but also supported with complementary measures that leverage it as a vehicle for economic development. Among the most important of the next steps is the phase II negotiations scheduled to commence on intellectual property rights, investment and competition policy in late 2019.
Author: Olutayo, Akinpelu O.
Publisher: CODESRIA
ISBN: 2869786328
Category : Political Science
Languages : en
Pages : 148
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Book Description
This book examines how the existence of overlapping regional institutions has presented a daunting challenge to the workings of various Regional Economic Communities (RECs) on the African continent. The majority of the African countries are members of overlapping and, sometimes, contradictory RECs. For instance, in East Africa, while Kenya and Uganda are both members of EAC and COMESA, Tanzania, which is also a member of the EAC, left COMESA in 2001 to join SADC. In West Africa, while all former French colonies belong to ECOWAS, they simultaneously keep membership of UEMOA, an organization which is not recognized by the African Union (AU). Such multiple and confusing memberships create unnecessary duplication and dims the light on what ought to be priority. Various chapters in this book have therefore sought to identify and proffer solutions to related challenges confronting the workings of the RECs in different sub-regions of the African continent. The discourses range from security to the stock exchange, identity integration, development framework, labour movement and cross-border relations. The pattern adopted in the book involves devolution of related discussions from the general to the specific; that is, from the continental level to sub-regional case studies.
Author: United Nations. Economic Commission for Africa
Publisher: United Nations, Economic Commission for Africa
ISBN:
Category : Business & Economics
Languages : en
Pages : 304
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Book Description
This publication examines progress towards regional integration in Africa; defined as one of the anchoring ideals of African unity and the basis for the New Partnership for Africa's Development (NEPAD) development framework. The report analyses the current state of the integration process, highlighting where efforts have succeeded or failed. Findings include that progress has been mixed across sectors, regional economic communities and member states; with some notable progress in trade, communications, transport and macroeconomic policy. Overall however, substantial gaps remain between goals and achievements of most regional economic communities, particularly in terms of internal African trade, macroeconomic policy convergence, production and physical connectivity. A summary report is also available (ISBN 9211250927)
Author: Philippe De Lombaerde
Publisher: Springer
ISBN: 3319508601
Category : Political Science
Languages : en
Pages : 381
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Book Description
This volume brings together experts from different world regions. It presents various experiences with building indicator systems for monitoring the implementation of regional economic integration policies such as preferential trade areas, common markets or economic and monetary unions. The volume discusses both the technical and governance aspects of such systems, and best practices. The regional experiences that are covered include: the European Union, Eurasia, ASEAN, the East African Community (EAC), COMESA, CARICOM, the African-Caribbean-Pacific Group, and the Americas. In addition, various chapters discuss cross-cutting methodological challenges related to trade-related indicators.
Author: Bouet, Antoine
Publisher: Intl Food Policy Res Inst
ISBN:
Category : Political Science
Languages : en
Pages : 56
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Book Description
Informal cross-border trade (ICBT) represents a prominent phenomenon in Africa. Several studies suggest that for certain products and countries, the value of informal trade may meet or even exceed the value of formal trade. This paper provides a review of existing efforts to measure informal trade. We list 18 initiatives aimed at measuring ICBT in Africa. The paper also summarizes discussions conducted with many stakeholders in Africa between December 2016 and May 2018 regarding the measurement, the determinants, and the implications of ICBT. The methodologies used to measure ICBT in Africa differ widely, but they do confirm that informal trade in Africa is both sizeable and volatile. Both evidence on the determinants of ICBT and discussions with stakeholders suggest that policies should aim to reduce the existing costs associated with formal trade and provide positive incentives for traders and producers to move into the formal economy in order to avoid the loss of economic potential stemming from informal trade.
Author: André Mbata Betukumesu Mangu
Publisher:
ISBN: 9789004399938
Category : Africa
Languages : en
Pages : 0
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Book Description
In Regional Integration in Africa: What Role for South Africa, Henri Bah, Siphamandla Zondi and André Mbata Mangu reflect on African integration. Despite some progress made, Africa is lagging behind and South Africa has not played a major role.
Author: African Union
Publisher: United Nations Publications
ISBN:
Category : Business & Economics
Languages : en
Pages : 182
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Book Description
This report examines the effectiveness of Africa's regional economic communities in pushing forward the regional integration agenda towards the objectives of the Abuja Treaty establishing the African Economic Community. A fully functioning African Economic Community will remove all barriers to movement of people, goods and services across the continent, thereby creating a single economic space. The report examines the critical role that institutions in general can play in achieving policy objectives, and the specific role that African institutions perform. The analysis focuses on the regional economic communities, which have been designated by the African Union as the building blocks for achieving the African Economic Community.
Author: Daniel H. Levine
Publisher: Springer
ISBN: 1137586117
Category : Political Science
Languages : en
Pages : 367
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Book Description
This landmark book is the first of its kind to assess the challenges of African region-building and regional integration across all five African sub-regions and more than five decades of experience, considering both political and economic aspects. Leading scholars and practitioners come together to analyze a range of entwined topics, including: the theoretical underpinnings that have informed Africa's regional integration trajectory; the political economy of integration, including the sources of different 'waves' of integration in pan-Africanism and the reaction to neo-liberal economic pressures; the complexities of integration in a context of weak states and the informal regionalization that often occurs in 'borderlands'; the increasing salience of Africa's relationships with rising extra-regional economic powers, including China and India; and comparative lessons from non-African regional blocs, including the EU, ASEAN, and the Southern Common Market. A core argument of this book, running through all chapters, is that region-building must be recognized as a political project as much as if not more than an economic one; successful region-building in Africa will need to include the complex political tasks of strengthening state capacity (including states' capacity as 'developmental states' that can actively engage in economic planning), resolving long-standing conflicts over resources and political dominance, improving democratic governance, and developing trans-national political structures that are legitimate and inclusive.
