Trade, Exchange Rate, and Growth in Sub-Saharan Africa

Trade, Exchange Rate, and Growth in Sub-Saharan Africa

by Jean-Paul Azam
     
 

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ISBN-10: 0521684072

ISBN-13: 9780521684071

Pub. Date: 09/01/2007

Publisher: Cambridge University Press

In this sophisticated yet accessible analysis of the open economies of sub-Saharan Africa, Jean-Paul Azam analyzes international trade, exchange rate issues, and longer-term growth, taking due account of the distinctive features of African economies. In particular, he examines the informal as well as the formal institutional frameworks which prevail in different

Overview

In this sophisticated yet accessible analysis of the open economies of sub-Saharan Africa, Jean-Paul Azam analyzes international trade, exchange rate issues, and longer-term growth, taking due account of the distinctive features of African economies. In particular, he examines the informal as well as the formal institutional frameworks which prevail in different African countries and which affect their macroeconomic behavior. Key issues explored include tariffs and quotas, membership of the CFA Zone, and currency convertibility or inconvertibility, as well as smuggling, corruption, parallel markets in goods and currencies, ethnic diversity, and redistribution. Case studies of important macroeconomic events are used to establish basic stylized facts from which the theory emerges, and special attention is paid to the consequences of macroeconomic events for the poor, via the food market or traditional redistribution mechanisms.

About the Author:
Jean-Paul Azam is Professor of Economics at the University of Toulouse and the Institut Universitaire de France

Product Details

ISBN-13:
9780521684071
Publisher:
Cambridge University Press
Publication date:
09/01/2007
Edition description:
First Edition
Pages:
280
Product dimensions:
5.98(w) x 8.98(h) x 0.63(d)

Table of Contents


List of figures and tables     vi
Preface     xi
List of acronyms and abbreviations     xvi
Introduction and overview     1
Unrecorded trade in goods and currencies     9
The welfare implications of unrecorded cross-border trade     11
Parallel trade and currency convertibility     45
Foreign exchange constraints     67
Dollars for sale: inflation and the black market premium     69
The public debt constraint in the CFA Zone     105
Currency crises, food, and the "Cola nut" effect     134
Longer-term growth in African countries     171
Exchange rate, growth, and poverty     173
Export crops, human capital, and endogenous growth     197
Ethnic rents and the politics of redistribution     213
General conclusion     239
References     240
Index     255

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