Read e-book online Accelerated Economic Growth in West Africa PDF

By Diery Seck

ISBN-10: 3319168258

ISBN-13: 9783319168258

ISBN-10: 3319168266

ISBN-13: 9783319168265

The booklet presents a close research of the factors of West Africa’s present monetary high-growth episode and proposes how you can expand it sustainably. It examines the capability function of local integration throughout the institution of a standard forex union and of alternative coverage suggestions which can improve fiscal progress. The authors recommend acceptable tools of coordination among macroeconomic coverage and industrialization to accomplish better fiscal development and likewise study why pro-poor innovations haven't been profitable. The booklet underscores the demanding situations and possibilities that would come up from the structural swap to the region’s economies due to the required funding in production exports, ICT and infrastructure, that are key cars for prolonged development. Readers will find out how the zone can higher achieve its developmental targets through securing and perpetuating political liberty and transactional freedom for all its voters.

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Still rests on the degree of direct state involvement in economic activities. India, China, Malaysia, Indonesia, Singapore and others have been able to move millions out of poverty by registering not only robust growth rates over a long-period of time but also through systematic economic planning gingered by an ‘elite’ group committed to positive structural transformation. Most of the countries in West Africa were at the same level with those in Asia in the 1950s, 1960s and 1970s; Nigeria, Ghana, Cote d’Ivoire, Senegal had similar growth rates with Singapore, Malaysia, Indonesia and Taiwan.

17 be used to service their sovereign debt thus reducing the probability of default and consequently the riskiness of their debt. A similar effect could also be achieved if the variability of the return on those assets results from the pooling of the reserves. With the help of a numerical simulation, it is shown that the probability of default on the sovereign loan decreases if membership in a common currency union results in an increase in the level of assets or a decrease of their volatility.

4 Conclusion Economic growth is desired by policymakers in both the developed and developing countries. It is however desired not for its own sake but for development purpose, which involves improvement in the welfare of the people. Economic growth varied across the ECOWAS Countries in the last four decades with higher growth in countries that were relatively politically stable and in those that experienced relative macroeconomic stability as well, though external shocks in various forms were occasionally constraints—for example, the 2008 financial crisis was an external shock component.

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Accelerated Economic Growth in West Africa by Diery Seck


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