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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
Africa's Geography presents a comprehensive exploration of the world’s second largest and most culturally diverse continent. Author Benjamin Ofori-Amoah challenges common misconceptions and misrepresentations of Africa from a geographical perspective, harnessing the power of modern geographic mapping technology to explore this unique continent. This text provides thorough coverage of the historical, cultural, economic, and political forces that continue to shape Africa, applying geographic context to relevant past and contemporary issues. Coverage of economic development, climate and biogeography, transportation and communication, manufacturing and commerce, and mining and agriculture provides foundational knowledge of this vast and complex continent. Ideally suited for multiple areas of classroom study, this text offers an effective and flexible pedagogical framework. Coverage of the entirety of Africa enables students to develop a cohesive portrait of the continent as a whole and identify the dynamism of its nations, cultures, and economies. Engaging and accessible narrative strengthens comprehension, while examples of historical and contemporary events increase student interest. Innovative and unique, Africa’s Geography is an essential resource for cross-disciplinary investigation of this fascinating part of the world.
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
This book explains the structure and geographical and organisational mobility of criminal and migratory movements in the Sahara and the Sahel with a view to helping establish better development strategies for the region.
In 1992, world leaders adopted Agenda 21, the work program of the 1992 U.N. Conference on Environment and Development. This landmark event provided a political foundation and action items to facilitate the global transition toward sustainable development. The international community marked the tenth anniversary of this conference in Johannesburg, South Africa, in August 2002. Down to Earth, a component of the U.S. State Department's "Geographic Information for Sustainable Development" project for the World Summit, focuses on sub-Saharan Africa with examples drawn from case-study regions where the U.S. Agency for International Development and other agencies have broad experience. Although African countries are the geographic focus of the study, the report has broader applicability. Down to Earth summarizes the importance and applicability of geographic data for sustainable development and draws on experiences in African countries to examine how future sources and applications of geographic data could provide reliable support to decision-makers as they work towards sustainable development. The committee emphasizes the potential of new technologies, such as satellite remote-sensing systems and geographic information systems, that have revolutionized data collection and analysis over the last decade.
In this book, Franklin Obeng-Odoom seeks to debunk the existing explanations of inequalities within Africa and between Africa and the rest of the world using insights from the emerging field of stratification economics. Using multiple sources - including archival and historical material and a wide range of survey data - he develops a distinctive approach that combines traditional institutional economics, such as social protection and reasonable value, property and the distribution of wealth with other insights into Africa's development. While looking at the Africa-wide situation, Obeng-Odoom also analyses the experiences of inequalities within specific countries; he primarily focuses on Ghana while also drawing on experiences in Botswana and Mauritius. Comprehensive and engaging, Property, Institutions, and Social Stratification in Africa is a useful resource for teaching and research on Africa and the Global South.
Sub-Saharan Africa is at a turning point. The barriers to economic growth seen in the 1980-2000 era are disappearing and new optimism is spreading. However, difficult goals of eliminating poverty, achieving equity and overcoming environmental threats continue. This much-needed and insightful textbook has been written to help us understand this combination of emerging improvements and significant challenges. Opening with an analysis of the main theories relating to development in Sub-Saharan Africa, the book explores all the key issues, including: Human development; Rapid urbanization; Structural and gender dimensions; Sustainable development and environmental issues; and Africa’s role in the world economy. The authors use economic tools and concepts throughout, in a way that makes them accessible to students without an economics background. Readers are also aided by a wide range of case studies, on-the-ground examples and statistical information, which provide a detailed analysis of each topic. This text is also accompanied by an e-resource, featuring additional sources for students and instructors. African Economic Development is a clear and comprehensive textbook suitable for courses on African economic development, development economics, African studies and development studies.
About one-third of countries covered by the IMF's African Department are members of the CFA franc zone. With most other countries moving away from fixed exchange rates, the issue of an adequate policy framework to ensure the sustainability of the CFA franc zone is clearly of interest to policymakers and academics. However, little academic research exists in the public domain. This book aims to fill this void by bringing together work undertaken in the context of intensified regional surveillance and highlighting the current challenges and the main policy requirements if the arrangements are to be carried forward. The book is based on empirical research by a broad group of IMF economists, with contributions from several outside experts.
Intended for those interested in the African continent and the diversity of human history, this work looks at Africa's past and reflects on the changing ways it has been imagined and represented. It illustrates key themes in modern thinking about Africa's history with a range of historical examples.