2. Research Papers
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- PublicationAn empirical evaluation of trade potential in the economic community of West African States(The African Economic Research Consortium, 1988-11) Ogunkola, Olawale E.Intra-ECOWAS trade has remained very low despite the integration efforts in the subregion in the past two decades. While noting that these efforts have not progressed as scheduled, this study investigates what the West African countries stand to gain by way of increases in intra-regional trade flows if all trade barriers are removed. The study uses a gravity model whose results suggest that there is trade potential in the subregion.
- PublicationThe real exchange rate and Ghana's agricultural exports(African Economic Research consortium, 1992-10-07) Fosu, K. Yerfi
- PublicationGrowth and Foreign debt the Ethiopian Experience : 1964- 1986(AERC, 1992-11) Befekadu Degefe
- PublicationLinks between the informal and formal /semi - formal financial sectors in Malawi(AERC, 1992-11-01) Chipeta C; M. L. C Mkandawire
- PublicationSmall and medium-scale enterprises in Nigeria: their characteristics, problems and sources of finance(African Economic Research consortium, 1992-12-05) Ekpenyong, David B.; Nyong, M.O.
- PublicationTHE NIGERIAN BANKING SYSTEM IN THE CONTEXT OF POLICIES OF FINANCIAL REGULATION AND DEREGULATION(AERC, 1992-12-28) ADEDOYIN SOYIBO; FEMI ADEKANYE
- PublicationScope, structure and policy implications of informal financial markets in Tanzania(AERC, 1993-04-02) M. HYUHA; M. 0. NDANSHAU; J. P. KIPOKOLA
- PublicationEuropean economic integration and the Franc Zone: The future of the CFA franc after 1996(AERC, 1993-07-02) Allechi M"bet; Amlan Madeleinen Niamkey
- PublicationThe determinants of fiscal deficit and fiscal adjustment in Cote D'IVoire(AERC, 1993-07-27) Oussou, Kouassy; Bouabre, Bohourn
- PublicationRevenue productivity implications of tax reform in Tanzania(AERC, 1993-09) Osoro, Nehemiah E.
- PublicationInflationary trends and control in Ghana(AERC, 1993-09) Sowa, Nii K; Kwakye, John
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- PublicationMacroeconomic constraints and medium-term growth in Kenya: a three-gap analysis(AERC, 1994-05) Mwega, F. M.; Mwangi, Njuguna; -Ochilo, F. Otewe
- PublicationTRADE, PAYMENTS LIBERALIZATION AND ECONOMIC PERFORMANCE IN GHANA(AERC, 1994-11) JEBUNI, C. D.; ODURO, A. D.; TUTU, K. A.Not available
- PublicationEXCHANGE RATE DEPRECIATION, BUDGET DEFICIT AND INFLATION - THE NIGERIAN EXPERIENCE(AERC, 1994-11) EGWAIKHIDE, FESTUS 0.; CHETE, LOUIS N.; FALOKUN, GABRIEL 0.not available
- PublicationMONETARY HARMONIZATION IN SOUTHERN AFRICA(AERC, 1994-11) Chipeta, C; Mkandawire, M. L. CAt its 1991 Summit held in Arusha, Tanzania, the authority of SADC decided that the organisation should embark on macroeconomic and sectoral policy planning and coordination. As pointed out by the organisation's Executive Secretary in January 1992, during the Annual Consultative meeting held in Maputo, Mozambique, macroeconomic policy planning and coordination will include the creation of a monetary union. All member states of SADC, except Botswana, are also members of the Preferential Trade Area of Eastern and Southern Africa (PTA). According to its Treaty, the aim of the PTA is to promote cooperation and development in all fields of economic activity, including monetary affairs. Monetary cooperation has been interpreted to include establishing a common monetary area with a greater measure of monetary stability in order to facilitate economic integration. To this end, the authority of the PTA decided in 1990 that the organisation should work towards the establishment of a single currency by the year 2000. Southern Africa already has one monetary harmonization scheme — the Common Currency Area covering South Africa, Lesotho, Namibia and Swaziland. Mozambique has openly expressed interest in joining this currency area. Other countries would like to see the rand become the common currency of Southern Africa.
- PublicationINDICES OF EFFECTIVE EXCHANGE RATES: A COMPARATIVE STUDY OF ETHIOPIA, KENYA AND THE SUDAN(AERC, 1994-11) KIDANE, ASMEROMThe paper considers the various indices of effective exchange rate that are applied in many countries to measure the overvaluation or undervaluation of a particular currency compared to the currency of major trading countries. First the conceptual issues of the nominal effective exchange rate (NEER) is considered. In general there are three types of nominal effective exchange rates namely the export weighted, import weighted and trade weighted rates. Other indices may also be developed on the basis of the three indices. The major drawback with these rates is that they do not isolate the effect of overvaluation from possible inflationary differentials between reporting countries and major trading partners. In order to isolate the pure exchange rate effect, the nominal effective exchange rate should be deflated by the ratio of the inflation rate of a reporting country to that of a partner country. This would in turn give us the Real Effective Exchange Rate (REER). There are two problems associated with the conversion of NEER to REER. First, there is an issue of what type of price index to use. There are several indices including the Consumer Price Index (CPI), the wholesale price index (WPI), as well as other related indices. Second, even if a particular index is chosen, that index may not be measured in a similar manner between the two countries. If the Real Effective Exchange Rate (REER) is measured with minimal error then such an index may be a measure of changes in the price of tradables compared to non-tradables. In other words, the REER is akin to the Real Exchange Rate (RER).
- PublicationCONSTRAINTS TO THE DEVELOPMENT AND DIVERSIFICATION OF NONTRADITIONAL EXPORTS IN UGANDA, 1981-90(AERC, 1994-11) SSEMOGERERE, G. N.; KASEKENDE, L. A.The foreign exchange cash-flow of Uganda has reached a crisis. Expenditure requiring foreign exchange is on the increase as the economy grows, while foreign exchange receipts have dwindled over the past four years from about US$400 million to a cash flow position of about US$100 million. This study investigates the constraints which prevent exports receipts from increasing in response to the exchange rate reforms since 1981. The first conclusion drawn from this study is that exchange rate policies, unless pursued within a consistent macroeconomic stabilization framework, cannot enlist a significant response from exports producers. Second, it is clear that other constraints encompassing institutional reforms and infrastructural reconstruction must also be addressed before a the country can develop a dynamic comparative advantage.
- PublicationExchange rate depreciation and the structure of sectoral prices in Nigeria under an alternative pricing regime, 1986—89(AERC, 1994-11-06) Ajakaiye, Olu; Ojowu, Ode
- PublicationGhana: The burden of debt service payment under structural adjustment(AERC, 1995-03) OSEI, BARFOURAbstract not available