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Publications (10)
Working Paper
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The purpose of this paper is to explore economic and political implications of Europe's Economic and Monetary Union (EMU) for developing countries. In strictly economic terms, influences will be communicated through both trade and financial channels. Economies in the developing world will be...
Working Paper
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– Retrospect and Prospect
The management of international reserves remains one of the understudied aspects of the international monetary system. There are now a number of reasons why this should change. On the supply side of the market there is the advent of the euro, creating a full-fledged rival to the dollar for the first...
Working Paper
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The partial effect of nominal exchange rate volatility on exports from each EMU member to the rest of the EMU is estimated on annual data for 1967-97, using modern time-series methods. The long-run relations between exchange rate volatility and exports are mostly negative and in several cases...
Working Paper
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– Commitment, institutional Capacity and the Monetary-Fiscal Mix
An interesting theory of transition must give a convincing account of structural adjustment and supply side improvement. In this paper, I discuss the incentives for government to undertake costly supply side improvement and how these relate to incentives governing the design of monetary and fiscal...
Working Paper
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The emergence of the euro as a key currency, perhaps eventually rivalling the US dollar in importance, may have important macroeconomic implications for industrial as well as developing economies in the years ahead. This paper focuses on two related questions. First, what effects, if any, will the...
Working Paper
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We analyse the prospects for greater monetary integration in Africa, in the wake of EMU. We argue that the structural characteristics of African economies are quite different to the EMU members but that much can be gained from monetary cooperation, as an external agency of restraint and in promoting...
Working Paper
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– Food Marketing Policies in Eastern Africa
Food marketing is one of the fields where structural adjustment has been implemented throughout the Sub-Saharan Africa. This study analyses the impact of reform on the functioning and efficiency of food marketing. It is based on a comparative analysis of three maize-producing countries, namely...
Working Paper
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This paper analyses the rationale of interventions in foreign exchange markets in Sub- Saharan Africa and reviews exchange rate theory and balance of payments management and its application to African countries. It analyses the liberalization of foreign exchange markets and the impact of these...
Working Paper
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– An Assessment of the Liberalization of Food Marketing in Sub-Saharan Africa
The liberalization of food marketing has been implemented as part of structural adjustment programmes in Sub-Saharan Africa. In this study we assess i) the aims of reform policy, ii) the implementation of specific reform measures, iii) the politics of reform, and iv) the impacts of reform. The study...
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