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Export Diversification: Is it Really Necessary for Botswana?

" The main objective of this policy brief is to explore the reasons why Botswana continues to pursue the export diversification strategy in spite of its limited success over the years. This policy brief will summarize the reasons advanced by the stu…

The Way Forward: Short and Long Term Policy Responses to Uganda's Current Economic Crisis

"This brief argues that, contrary to the mixed response of the government policy apparatus, given the current state of affairs,it is not only tenable but necessary for the government to develop a coherent set of short and long term policy interventi…

Is the Botswana Pula Misaligned?

"The objective of this paper is to assess the extent to which the Botswana exchange rate (the Pula) has been consistent with economic fundamentals. To do so an equilibrium exchange rate is estimated and compared against the values of the effective e…

The Effects of Trade Liberalization on Productive Efficiency : Some Evidence from the Electrical Industry in Cameroon

"This study assesses the impact of trade liberalization in the Union Douaniere des Etats de l'Afrique Centrale (UDEAC) on the productive efficiency of the electrical plants in Cameroon. Essential elements of the liberalization package may be summari…

The Foreign Exchange Market and the Dutch Auction System in Ghana

"The main objective of this paper is to present an account of the nature and working of the foreign exchange market and the Dutch auction arrangement in Ghana from the inception of the ERP in 1983 up to the first quarter of 1991. Before examining an…

The Nigerian Foreign Exchange Market: Possibilities for Convergence in Exchange Rates

"This study evaluated the possibility of exchange rate convergence in Nigeria through the institutional differences that segment the Nigeria forex market. The study extended Peterside's equation of Nigerian multiple exchange rates by (a)adding more …

The Effects of Exchange Rate Policy on Cameroon's Agricultural Competitiveness

"The paper analyses the effects of trade and exchange rate policies on Cameroon's agriculture. Theoretical models and formulas are developed for empirical analysis. The calculated relative prices and indexes estimates of the degree of over-valuati…

SAIIA Southern Africa Record no 18

This issue takes a look at the Rhodesian settlement initiatives through firstly looking at the Constitution of Zimbabwe Rhodesia in 1979. It then goes through statements concerning sanctions by the United States, United Kingdom, the Zimbabwe Rhodesi…

The Specification and Estimation of a Macroeconometric Model of Botswana

"This paper presents a macroeconometric model of Botswana. The model is specified to capture the supply side of the Botswana's economy and is based on the concepts of the two-gap models as specified by Chenery et al (1962). The special feature of th…

A Modelling of Ghana's Inflation Experience: 1960–2003

"The study sought to ascertain the key determinants of inflation in Ghana for the past 40 years. Stylized facts about Ghana’s inflation experience indicate that since the country’s exit from the West African Currency Board soon after independence, i…

A Review of Recent Developments in the Second Economy in Tanzania

"This paper examines the nature and estimates the magnitude of the second economy in Tanzania to establish the extent to which official national accounts misstate actual or real production of goods and services. Section II sets up the conceptual fra…

Africa and the Global Economic Crises : Impacts, Policy Responses and Political Economy

"African countries have already undertaken a number of effective measures to minimize the impacts of the crisis. Taking a longer-term perspective, African countries could turn the crisis into an opportunity to restore their economic potentials and …

An Econometric Analysis of Capital Flight from Nigeria: A Portfolio Approach

"This study provides measures of real capital flight from Nigeria based on the residual method adjusted for exchange rate fluctuations and trade misinvoicing. The portfolio choice approach is explored, in which the flow of capital is accumulated int…

Analysis of Factors Affecting the Development of an Emerging Capital Market: The Case of the Ghana Stock Market

"The study looks at the institutional factors affecting the development of the Ghana stock market. Additionally, the study analyses the impact of the listing of Ashanti Goldfields corporation on the development of the Ghana stock market. The study e…

Capital Flight and External Debt in Nigeria

"This study concentrates on capital flight and external debt in Nigeria. The study will focus on the definition, magnitude, determinants, mechanisms and consequences of capital flight. The analysis will also explore the possible measureable assets…

Consequences and Limitations of Recent Fiscal Policy in Cote d'Ivoire

"Our concern in this research is precisely to discuss the effectiveness of the measures adopted for fiscal adjustment in Côte d'Ivoire regarding its fiscal profile over the past two decades and the determinants of its fiscal deficit. We intend to i…

Constraints to the Development and Diversification of Non Traditional Exports in Uganda, 1981-90

"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 cas…

Determinants of Imports in Nigeria: A Dynamic Specification

"This study examines the determinants of aggregate imports and its components in Nigeria between 1953 and 1989. The estimated equations rest on the stock adjustment import exchange model that has its roots in the balance of payments theory and in t…

Costs and Benefits of Special and Differential treatment for developing countries in GATT/WTO: An African perspective

"It is not necessarily self-evident that income transfers should be made through S&D treatment; other mechanisms that may be more efficient could be available. Second, it is worth examining whether S&D treatment provides appropriate incentives for…

Dynamic Inter-Links Among the Exchange Rate, Price Level and Terms of Trade in a Managed Floating Exchange Rate System: The Case of Ghana

"This study examined the dynamic inter-relationships among domestic price level, nominal exchange rate, terms of trade of cocoa, bank rate, domestic credit and foreign exchange reserves using the cointegration, vector error correction (VEC) and vect…

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