Finance and Trade in Africa: Macroeconomic Response in the World Economy Context [Paperback]

What constraints do history and the global economy place upon Africa's economic development? To answer this question, Alemayehu Geda offers a new study of international finance and trade in Africa using a global macro model focused on the region. A unique study of the African continent, this book offers development economists and policymakers an innovative alternative to the IMF and World Bank's framework for national development strategy.List of Tables and Diagrams List of Acronyms and Abbreviations Series Editor's Preface Acknowledgements Introduction Trade, Finance and Development in a Global Context The Macroeconomics of Africa: Import Compression and External Finance Determinants of Foreign Exchange Supply External Finance and the African Economy: A Macro Approach Modelling Africa within a Global Economic Framework The Effect on Africa of External Shocks Generated in Developed Countries Concluding Remarks Notes References Index

'In this book, Alemayehu Geda provides the basis for a textbook for advanced African students of economics that would take them beyond the one-country technical and dependency political perspectives...He builds a simulation model of the region, which is a tour de force, not only in technical terms, but also as an alternative interpretation of reality.' - Valpy FitzGerald, University of Oxford, QEH

'Finance and Trade in Africa is a milestone in the debate over that continent's underdevelopment, and what should be the strategy to overcome that underdevelopment. Perhaps nowhere else has the link between debilitating external factors and Africa's poverty been made so rigorously and clearly. This book offers a powerful challenge to he neoclassical orthodoxy'. - John Weeks, University of London, School of Oriental and African Studies

'While recognizing the importance of domestic factor in influencing the rather dismal economic performance of African countries generally, Alemayehu Geda emphasizes the ló‰