Monetary and financial systems in Africa : integration and economic performance / / edited by Aloysius Ajab Amin, Regina Nsang Tawah, and Augustin Ntembe

• Pubblicazione: Cham, Switzerland : , : Springer, , [2022]; ©2022
• Descrizione fisica: 1 online resource (448 pages)
• Disciplina: 330.96
• Soggetto topico: Economic development; Economic history
• Persona (resp. second.): AminAloysius Ajab <1947->; TawahRegina Nsang; NtembeAugustin
• Nota di bibliografia: Includes bibliographical references and index.
• Nota di contenuto: Intro -- Foreword -- Preface -- Contents -- Contributors -- Abbreviations -- List of Figures -- List of Tables -- Part I: Introduction -- Chapter 1: Introduction and Background: A Historical Perspective of the Role of Financial Institutions in Africa's Development -- Introduction -- Components of Monetary and Financial System -- Market-Based and Bank-Based Financial Systems -- Diversified Financial System -- Channels of Transmission -- The Economy -- Importance of African Resources -- Goal of Development -- Lessons from Indian Case Study -- Poverty Reduction and Development -- Financial Constraint -- Conclusion with Policy Implication -- A Synopsis of the Rest of the Book -- In Part II, with Three Chapters, the Authors Discuss Monetary Policy, Focusing on Inflation Targeting and Monetary Policy Transmission Mechanism to the Real Sector -- Part III, in Seven Chapters, Analyzes Regional Issues Related to Regional Financial Systems and Integration -- Part IV Is in Six Chapters Covering Continental Monetary Issues and Economic Performance -- Appendix 1 Cryptocurrency Market with Central Bank Digital Currency and Potential Regulations Aloysius Ajab Amin -- Introduction -- Cryptocurrency -- Central Bank Digital Currency -- Benefits and Risks -- Synchronized Infrastructure -- Legal Framework -- References -- References -- Part II: Country Monetary Policy Issues -- Chapter 2: Monetary Policy and Price Stability in Ghana's Fourth Republic: Have the Dues Been Paid? -- Introduction -- Monetary Policy Frameworks Since 1993 -- Price Stability Performance Under the Monetary Policy Frameworks -- Economic Growth Under the Fourth Republic -- Economic Growth, Income Distribution, Unemployment, and Welfare -- Conclusion and Policy Recommendations -- References -- Chapter 3: Monetary Policy Impact on Macroeconomic Performance in Tanzania: Empirical Approach. ; Introduction -- Monetary Policy Transmission to Real Variables: Insights from the Literature -- Monetary Policy and Economic Performance in Tanzania -- Methodology -- Data and Empirical Results -- Data Source and Definitions -- Empirical Results -- Long-Run Relationship -- Impulse Response Functions -- Forecast Error Variance Decomposition -- Conclusion -- References -- Chapter 4: Effects of Monetary Policy Transmission on Economic Growth in Sierra Leone -- Introduction -- Review of Previous Studies -- Evidence from Sierra Leone -- Methodology -- Regression Results -- Conclusion and Recommendations -- References -- Part III: Regional Financial Sector Issues -- Chapter 5: The Monetary Union and Economic Integration: Challenges of the Creation of the West African Single Currency, Eco -- Introduction -- Recent Economic Situation of ECOWAS -- Declining Economic Growth Is Dependent on Fluctuations in the Global Economic Environment and Socio- Political Instability: Therefore Is Exposed to External Shocks -- An Economic Environment Under Heavy Inflationary Pressures -- A Slight Recovery in Public Finances Is Tempered by a Continuous Increase in Debt, a Persistent Deficit in the Balance of Payments, and Significant Depreciation of National Currencies -- The West African Monetary Cooperation Program (ECOWAS) -- Context and History of Monetary Cooperation in West Africa: Colonial Monetary Arrangements and the West African Clearing House (WACH) -- The ECOWAS Monetary Cooperation Program (EMCP) -- The Issues and Challenges of the ECOWAS Monetary Cooperation Program (EMCP) -- Macroeconomic Convergence -- The Intensification of the Process of Macroeconomic Convergence and the Adoption of a So-Called Fast-Track Approach for the Implementation of the EMCP -- The Challenges of the ECOWAS Monetary Cooperation Program. ; Perspectives and New Developments of the ECOWAS Monetary Cooperation Program -- Adoption of the Roadmap for the Creation of the Single Currency of ECOWAS -- The Establishment of the Presidential Task-Force -- Overall Situation and Performance in Terms of Economic Policy Harmonization and Macroeconomic Convergence in ECOWAS -- Performance in Harmonizing Economic Policies and Institutional Arrangements -- Performance in Terms of Macroeconomic Convergence in ECOWAS -- A Deterioration in the Macroeconomic Convergence Profile of ECOWAS with a Downward Trend in the Number of Countries That Meet All the Criteria -- Convergence Tests: An Analysis of Cyclical Convergence (or Convergence of Economic Policies) and Structural Convergence (or Convergence of Economic Structures) in ECOWAS -- Presentation of the Model -- Analysis of the Results of Empirical Tests of Economic Convergence in ECOWAS -- The Cost-Benefit Analysis of Joining the ECOWAS Monetary Union (Eco Zone) -- The Advantages of Joining the Monetary Union -- The Costs of Joining the Monetary Union -- Conclusion and Recommendations of Economic Policies -- References -- Chapter 6: The Political Economy of a Monetary Union in ECOWAS: The Case of the ECO Currency -- Introduction -- Politics and Interest Group Influence -- Brief History of Eco Currency -- France-Afrique Relationship -- Division and Distrust Amongst the ECOWAS Member States -- Way Forward for ECOWAS Monetary Integration -- Francophone CFAF ECOWAS Member States Negotiate an Exit Agreements from the CFAF with France -- ECOWAS Negotiate an Exit Agreement with France on Behave of the Whole Region -- A Piecemeal Approach -- Conclusion -- References -- Chapter 7: The Effects of Minimum Bank Capital and Governance on the Financing of the EMCCA Economies -- Introduction -- Literature Review -- Empirical Strategy and Data -- Results. ; Data Description -- Results of Econometric Estimations -- Concluding Remarks -- Appendixes -- Appendix 7.1: Variance Breakdown on TEG -- Appendix 7.2: Breakdown of the Structure with Regard to Credits -- Appendix 7.3: Breakdown of the CMB Variance on Credits Given to Economic Agents in Need of Financing -- References -- Chapter 8: Facts and Prospects of Monetary Union in East Africa -- Introduction -- The Evolution of the East African Cooperation -- The Genesis of a Common Currency in East Africa -- The Renaissance of the East African Monetary Union -- The Convergence Criteria and the Success of Monetary Unions -- The Structural Attributes in East African Community and the Success of a Monetary Union -- Can Optimal Currency Area Be Feasible for the East African Community? -- Interest Rates, Inflation, and Investment in East Africa -- Fiscal Deficits, Debt, and Exchange Rate Volatility -- Monetary Institutions in East Africa -- Interregional Trade in East Africa -- Conclusion -- References -- Chapter 9: The Development Cost of Maintaining Price and Economic Stability in Central and West African CFA Franc Zone -- Introduction -- France and Francophone Africa -- Evolution of CFA Franc: The BEAC and BCEAO -- Changes in CFA Franc Exchange Rates and Devaluation -- Origin of the Banking System, Operation Account, and Trade -- The CFA Franc Introduction -- The Operating Principles of CFA Franc -- CFA Franc Zone Foreign Exchange Reserves in French Operation Account -- The Euro and CFA Franc Process -- European Union (EU) and European Central Bank: No Obligation! -- Economic Costs to CFA Franc Countries -- Monetary Policy in the CFA Franc Zone Countries -- Credit Facilities for Investment and Business Growth with Entrepreneurship -- Trade-in Manufactured and Agricultural Goods -- Optimum Currency Area (OCA). ; Adjustment: The CFA Franc and Economic Performance of the Zone -- Primary Producers and Trade -- Business and Investment Environment -- Infrastructural Development -- Conclusion -- References -- Chapter 10: Banking Development in West Africa -- Introduction -- An Overview of Banking Evolution in West Africa -- Commercial Banking in West Africa -- Central Banking in West Africa -- A Review of Previous Studies -- Methodology -- Data -- Empirical Model -- Empirical Results -- Hausman Specification Test -- Regression Results -- Discussion -- Conclusion -- References -- Chapter 11: Capital Markets Development and Economic Growth in North Africa -- Introduction -- Macroeconomic Performance of the North African Economies -- Algerian Financial Development -- Financial Market Development in North Africa -- Market Breadth-Listed companies -- Market Liquidity -- Evolution of Traded Stocks -- Capital Market and Economic Growth: Empirical Evidence -- Empirical Results -- Conclusion and Policy Implications -- References -- Part IV: Continental Monetary Policy and the Financial Systems -- Chapter 12: Economic Performance Across Monetary Unions in Africa -- Introduction -- Theoretical and Empirical Literature on Effect of Monetary Unions on Economies -- Empirical Literature -- The State of Integration as a Pathway to Monetary Unions in Africa -- Country Comparisons of Integration Across Africa -- The Levels of RECS Economic and Monetary Integration -- Macroeconomic Integration -- Financial and Monetary Integration -- Evidence of Economic Performance Across Monetary Unions in Africa -- Trends in Economic Growth Performance -- Patterns GDP and GDP Per Capita Among Regional Economies -- Performance of Exports and Imports a Percentage of GDP -- Trends in Net FDI Inflows Among the Economies -- Performance in Human Development Indicators Among the Regions. ; Challenges in Regional and Monetary Integration.
• Titolo autorizzato: Monetary and Financial Systems in Africa
• ISBN: 3-030-96225-3
• Formato: Materiale a stampa
• Livello bibliografico: Monografia
• Lingua di pubblicazione: Inglese
• Record Nr.: 9910574094703321
• Lo trovi qui: Univ. Federico II