Exchange Rate Liberalization in Selected Sub-Saharan African Countries Successes, Failures, and Lessons

Released on by Mr.Nils Øyvind Mæhle
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  • Exchange Rate Liberalization in Selected Sub-Saharan African Countries Successes, Failures, and Lessons Book Detail

  • Author : Mr.Nils Øyvind Mæhle
  • Release Date : 2013-01-31
  • Publisher : International Monetary Fund
  • Genre : Business & Economics
  • Pages : 71
  • ISBN 13 : 1557756694
  • File Size : 87,87 MB
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Exchange Rate Liberalization in Selected Sub-Saharan African Countries Successes, Failures, and Lessons by Mr.Nils Øyvind Mæhle PDF Summary

Book Description: Many sub-Saharan African (SSA) countries liberalized their economies in the 1980s and early 1990s. This paper reviews the foreign exchange regime reforms in selected SSA, and their associated macroeconomic policies and economic performance during and after these reforms were undertaken. Before liberalization, most of the reviewed countries were characterized by extensive foreign exchange rationing, sizeable black market premiums, and declining per capita real income. Today, the countries that successfully reformed look markedly different. Rationing and parallel market spreads are a distant memory, and per capita income has increased sharply.

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Dollarization in Sub-Saharan Africa

Dollarization in Sub-Saharan Africa

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Dollarization—the use of foreign currencies as a medium of exchange, store of value, or unit of account—is a notable feature of financial development under