By Diery Seck
The e-book offers a close research of the reasons of West Africa’s present monetary high-growth episode and proposes how one can expand it sustainably. It examines the capability position of nearby integration during the institution of a typical forex union and of alternative coverage innovations which could increase monetary development. The authors recommend applicable equipment of coordination among macroeconomic coverage and industrialization to accomplish larger financial development and likewise study why pro-poor recommendations haven't been winning. The e-book underscores the demanding situations and possibilities that might come up from the structural switch to the region’s economies as a result of the mandatory funding in production exports, ICT and infrastructure, that are key autos for prolonged progress. Readers will find out how the zone can greater succeed in its developmental objectives by way of securing and perpetuating political liberty and transactional freedom for all its voters.
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Additional resources for Accelerated Economic Growth in West Africa
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So to maintain the same probability of default a country would need to increase its level of assets by $50 (from $100 to $150) to compensate for an increase of $30 (from $60 to $90) in its promised payment. The policy implication for the results of Table 6 are that a country can benefit from membership in a CCU by increasing its sovereign debt capacity but in a limited fashion unless it can access significantly larger levels of assets as the level of debt increases which can, beyond a certain level, be prohibitively costly for the CCU.
If the two effects are combined, the debtor country can reach a risk-free status at moderate levels of improvement of the two unlike the case of improvement in one variable only. The benefits from common currency membership also translate into higher pricing of the sovereign loan and higher proceeds for the borrower country if the arrangement for foreign reserve management gives access to a higher level of assets or causes reduction in the volatility of the assets. The model also shows that membership in the common currency union enhances the capacity of the country to borrow internationally if the level of assets increases, but only moderately because as the level of promised payment on the debt increases as the result of higher debt levels, significantly higher levels of assets are needed to keep the probability of default constant.