Will the Euro Create a Bonanza for Africa?:
At this stage, it is difficult to conclude that the euro will have substantial macroeconomic impact on sub-Saharan Africa, unless launch of the euro becomes the tool of a major policy shift, such as the euroization of the continent - which is currently unlikely. - In considering how the euro will af...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
The World Bank
1999
|
| Schlagworte: | |
| Online-Zugang: | DE-12 DE-521 DE-573 DE-523 DE-Re13 Volltext |
| Zusammenfassung: | At this stage, it is difficult to conclude that the euro will have substantial macroeconomic impact on sub-Saharan Africa, unless launch of the euro becomes the tool of a major policy shift, such as the euroization of the continent - which is currently unlikely. - In considering how the euro will affect Sub-Saharan Africa, Cohen, Kristensen, and Verner examine the transmission channels through which the euro could affect economies in the region. They examine the risks and opportunities the euro presents for Sub-Saharan African countries. They especially examine the effects from the trade channel, through changes in European economic activity and the real exchange rate. Because of the relatively low income elasticity for primary commodities - which is what Sub-Saharan Africa mainly exports - an increase in activity in Europe is considered to have a marginal impact on Africa. Exchange rate regimes and geographical trade patterns point to large differences in exposure to changes in the real exchange rate. Capital flows to Sub-Saharan Africa can be affected through portfolio shifts or through changes in foreign direct investment. Changes in competitiveness in Europe are not expected to influence foreign direct investment, so the euro is not expected to affect foreign direct investment significantly. Portfolio diversification could increase greatly. But Sub-Saharan Africa is not expected to realize the increased potential from portfolio diversification because of its severely underdeveloped domestic capital markets. It is vitally important that Sub-Saharan African countries strengthen their financial integration into global markets. How the euro will affect such parts of the financial system as banks and debt and reserve management varies across countries. Generally the effect is expected to be limited. This paper - a product of Poverty Reduction and Economic Management Sector Unit, Latin America and the Caribbean Region - is part of a larger effort in the Bank to study the effect of the euro on developing countries. The authors may be contacted at nkristensen@worldbank.org or dverner@worldbank.org |
| Beschreibung: | 1 Online-Ressource (30 Seiten)) |
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| 520 | 3 | |a At this stage, it is difficult to conclude that the euro will have substantial macroeconomic impact on sub-Saharan Africa, unless launch of the euro becomes the tool of a major policy shift, such as the euroization of the continent - which is currently unlikely. - In considering how the euro will affect Sub-Saharan Africa, Cohen, Kristensen, and Verner examine the transmission channels through which the euro could affect economies in the region. They examine the risks and opportunities the euro presents for Sub-Saharan African countries. They especially examine the effects from the trade channel, through changes in European economic activity and the real exchange rate. Because of the relatively low income elasticity for primary commodities - which is what Sub-Saharan Africa mainly exports - an increase in activity in Europe is considered to have a marginal impact on Africa. | |
| 520 | 3 | |a Exchange rate regimes and geographical trade patterns point to large differences in exposure to changes in the real exchange rate. Capital flows to Sub-Saharan Africa can be affected through portfolio shifts or through changes in foreign direct investment. Changes in competitiveness in Europe are not expected to influence foreign direct investment, so the euro is not expected to affect foreign direct investment significantly. Portfolio diversification could increase greatly. But Sub-Saharan Africa is not expected to realize the increased potential from portfolio diversification because of its severely underdeveloped domestic capital markets. It is vitally important that Sub-Saharan African countries strengthen their financial integration into global markets. How the euro will affect such parts of the financial system as banks and debt and reserve management varies across countries. Generally the effect is expected to be limited. | |
| 520 | 3 | |a This paper - a product of Poverty Reduction and Economic Management Sector Unit, Latin America and the Caribbean Region - is part of a larger effort in the Bank to study the effect of the euro on developing countries. The authors may be contacted at nkristensen@worldbank.org or dverner@worldbank.org | |
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Datensatz im Suchindex
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| index_date | 2024-07-03T22:27:50Z |
| indexdate | 2024-12-20T11:05:24Z |
| institution | BVB |
| language | English |
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| spelling | Cohen, Daniel Verfasser aut Will the Euro Create a Bonanza for Africa? Cohen, Daniel Washington, D.C The World Bank 1999 1 Online-Ressource (30 Seiten)) txt rdacontent c rdamedia cr rdacarrier At this stage, it is difficult to conclude that the euro will have substantial macroeconomic impact on sub-Saharan Africa, unless launch of the euro becomes the tool of a major policy shift, such as the euroization of the continent - which is currently unlikely. - In considering how the euro will affect Sub-Saharan Africa, Cohen, Kristensen, and Verner examine the transmission channels through which the euro could affect economies in the region. They examine the risks and opportunities the euro presents for Sub-Saharan African countries. They especially examine the effects from the trade channel, through changes in European economic activity and the real exchange rate. Because of the relatively low income elasticity for primary commodities - which is what Sub-Saharan Africa mainly exports - an increase in activity in Europe is considered to have a marginal impact on Africa. Exchange rate regimes and geographical trade patterns point to large differences in exposure to changes in the real exchange rate. Capital flows to Sub-Saharan Africa can be affected through portfolio shifts or through changes in foreign direct investment. Changes in competitiveness in Europe are not expected to influence foreign direct investment, so the euro is not expected to affect foreign direct investment significantly. Portfolio diversification could increase greatly. But Sub-Saharan Africa is not expected to realize the increased potential from portfolio diversification because of its severely underdeveloped domestic capital markets. It is vitally important that Sub-Saharan African countries strengthen their financial integration into global markets. How the euro will affect such parts of the financial system as banks and debt and reserve management varies across countries. Generally the effect is expected to be limited. This paper - a product of Poverty Reduction and Economic Management Sector Unit, Latin America and the Caribbean Region - is part of a larger effort in the Bank to study the effect of the euro on developing countries. The authors may be contacted at nkristensen@worldbank.org or dverner@worldbank.org Online-Ausg Banking System Banks and Banking Reform Capital Flows Country Risk Currencies and Exchange Rates Debt Debt Markets Domestic Capital Domestic Capital Markets Economic Theory and Research Emerging Markets Exchange Finance and Financial Sector Development Foreign Debt Foreign Direct Investment Foreign Direct Investments Global Markets Interest Interest Rate International Capital International Capital Markets Macroeconomics and Economic Growth Market Portfolio Portfolio Diversification Private Sector Development Real Exchange Rate Reserve Cohen, Daniel Sonstige oth Verner, Dorte Sonstige oth Kristensen, Nicolai Sonstige oth Cohen, Daniel Will the Euro Create a Bonanza for Africa? http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-2251 Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Cohen, Daniel Will the Euro Create a Bonanza for Africa? Banking System Banks and Banking Reform Capital Flows Country Risk Currencies and Exchange Rates Debt Debt Markets Domestic Capital Domestic Capital Markets Economic Theory and Research Emerging Markets Exchange Finance and Financial Sector Development Foreign Debt Foreign Direct Investment Foreign Direct Investments Global Markets Interest Interest Rate International Capital International Capital Markets Macroeconomics and Economic Growth Market Portfolio Portfolio Diversification Private Sector Development Real Exchange Rate Reserve |
| title | Will the Euro Create a Bonanza for Africa? |
| title_auth | Will the Euro Create a Bonanza for Africa? |
| title_exact_search | Will the Euro Create a Bonanza for Africa? |
| title_exact_search_txtP | Will the Euro Create a Bonanza for Africa? |
| title_full | Will the Euro Create a Bonanza for Africa? Cohen, Daniel |
| title_fullStr | Will the Euro Create a Bonanza for Africa? Cohen, Daniel |
| title_full_unstemmed | Will the Euro Create a Bonanza for Africa? Cohen, Daniel |
| title_short | Will the Euro Create a Bonanza for Africa? |
| title_sort | will the euro create a bonanza for africa |
| topic | Banking System Banks and Banking Reform Capital Flows Country Risk Currencies and Exchange Rates Debt Debt Markets Domestic Capital Domestic Capital Markets Economic Theory and Research Emerging Markets Exchange Finance and Financial Sector Development Foreign Debt Foreign Direct Investment Foreign Direct Investments Global Markets Interest Interest Rate International Capital International Capital Markets Macroeconomics and Economic Growth Market Portfolio Portfolio Diversification Private Sector Development Real Exchange Rate Reserve |
| topic_facet | Banking System Banks and Banking Reform Capital Flows Country Risk Currencies and Exchange Rates Debt Debt Markets Domestic Capital Domestic Capital Markets Economic Theory and Research Emerging Markets Exchange Finance and Financial Sector Development Foreign Debt Foreign Direct Investment Foreign Direct Investments Global Markets Interest Interest Rate International Capital International Capital Markets Macroeconomics and Economic Growth Market Portfolio Portfolio Diversification Private Sector Development Real Exchange Rate Reserve |
| url | http://elibrary.worldbank.org/content/workingpaper/10.1596/1813-9450-2251 |
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