Finance and Trade in Africa

ALEMAYEHU GEDA is Assistant Professor at the Department of Economics, Faculty of Business and Economics, Addis Ababa University, Ethiopia. He has been involved in a number of studies for the Economic Commission for Africa, the Organization of African Unity and is a member of the African Economic Research Consortium (AERC). Alemayehu Geda has also worked as resident macroeconomist at the Kenya Institute for Public Policy Research and Analysis. (KIPPRA).

• 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 role of external trade and finance in this record. Yes, governance must be improved, according to the popular paradigm of today; but no, let us not forget the importance of the international dimension either, thanks to Alemayehu Geda's excellent account.' - A.K. Fosu, Director of Research, African Economic Research Consortium, Nairobi 'Better understanding of globalization requires a rigorous analysis of world trade and financial linkages. It could be argued that Africa in many senses is a small player in global markets, yet it seems important enough to be considered a 'missing link' in the typical world economic models. This book makes up for that omission and, through highly realistic modelling; Alemayehu Geda reveals both the obvious relevance to the global economy to Africa's economic development and the less obvious relevance of Africa to the understanding of global economic interactions.' - Rob Vos, Institute of Social Studies, The Hague