Building resilience to global risks: challenges for African central banks
The policy response of many African commodity exporting economies to the slump in commodity prices after mid-2014 has been markedly different from that of commodity exporters elsewhere. First, few African countries allowed their currency to depreciate as much as other EMEs, for instance in Latin Ame...
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| Main Authors: | , |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
[Basel]
Bank for International Settlements
August 2017
|
| Series: | BIS papers
no 93 |
| Subjects: | |
| Online Access: | http://www.bis.org/publ/bppdf/bispap93.pdf |
| Summary: | The policy response of many African commodity exporting economies to the slump in commodity prices after mid-2014 has been markedly different from that of commodity exporters elsewhere. First, few African countries allowed their currency to depreciate as much as other EMEs, for instance in Latin America. Instead they resorted mainly to administrative controls, despite the high economic costs associated with such measures. Second, many African economies kept their policy rates very low despite considerable exchange rate pressure and rising inflation. Again, this differs from the response of many Latin American commodity exporters, who raised policy rates in order to keep inflation expectations anchored. Finally, many African economies have been less successful than other EMEs in shielding their banks from the fallout of lower commodity prices, sharp depreciation and feeble growth |
| Item Description: | Erscheint auch als Online-Ausgabe |
| Physical Description: | 17 pages Diagramme 30 cm |
| ISBN: | 9789292590840 9292590847 |
Staff View
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| illustrated | Not Illustrated |
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| spelling | Christensen, Benedicte V. Verfasser (DE-588)170131866 aut Building resilience to global risks challenges for African central banks by Benedicte Vibe Christensen and Christian Upper ; Bank for International Settlements, Monetary and Economic Departement [Basel] Bank for International Settlements August 2017 17 pages Diagramme 30 cm txt rdacontent n rdamedia nc rdacarrier BIS papers no 93 Erscheint auch als Online-Ausgabe The policy response of many African commodity exporting economies to the slump in commodity prices after mid-2014 has been markedly different from that of commodity exporters elsewhere. First, few African countries allowed their currency to depreciate as much as other EMEs, for instance in Latin America. Instead they resorted mainly to administrative controls, despite the high economic costs associated with such measures. Second, many African economies kept their policy rates very low despite considerable exchange rate pressure and rising inflation. Again, this differs from the response of many Latin American commodity exporters, who raised policy rates in order to keep inflation expectations anchored. Finally, many African economies have been less successful than other EMEs in shielding their banks from the fallout of lower commodity prices, sharp depreciation and feeble growth Notenbank (DE-588)4042669-5 gnd rswk-swf Afrika (DE-588)4000695-5 gnd rswk-swf Afrika (DE-588)4000695-5 g Notenbank (DE-588)4042669-5 s DE-604 Upper, Christian Verfasser aut Bank für Internationalen Zahlungsausgleich Währungs- und Wirtschaftsabteilung (DE-588)5043752-5 isb Erscheint auch als Online-Ausgabe 978-92-9259-085-7 BIS papers no 93 (DE-604)BV013919981 no 93 http://www.bis.org/publ/bppdf/bispap93.pdf |
| spellingShingle | Christensen, Benedicte V. Upper, Christian Building resilience to global risks challenges for African central banks BIS papers Notenbank (DE-588)4042669-5 gnd |
| subject_GND | (DE-588)4042669-5 (DE-588)4000695-5 |
| title | Building resilience to global risks challenges for African central banks |
| title_auth | Building resilience to global risks challenges for African central banks |
| title_exact_search | Building resilience to global risks challenges for African central banks |
| title_full | Building resilience to global risks challenges for African central banks by Benedicte Vibe Christensen and Christian Upper ; Bank for International Settlements, Monetary and Economic Departement |
| title_fullStr | Building resilience to global risks challenges for African central banks by Benedicte Vibe Christensen and Christian Upper ; Bank for International Settlements, Monetary and Economic Departement |
| title_full_unstemmed | Building resilience to global risks challenges for African central banks by Benedicte Vibe Christensen and Christian Upper ; Bank for International Settlements, Monetary and Economic Departement |
| title_short | Building resilience to global risks |
| title_sort | building resilience to global risks challenges for african central banks |
| title_sub | challenges for African central banks |
| topic | Notenbank (DE-588)4042669-5 gnd |
| topic_facet | Notenbank Afrika |
| url | http://www.bis.org/publ/bppdf/bispap93.pdf |
| volume_link | (DE-604)BV013919981 |
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