G2TT
来源类型Discussion paper
规范类型论文
来源IDDP2291
DP2291 Winners and Losers in a North-South Model of Growth, Innovation and Product Cycles
Paul Levine; Joseph Pearlman; Michael Chui
发表日期1999-11-30
出版年1999
语种英语
摘要This paper considers the impact of the Euro in Sub-Saharan Africa, looking at the transmission channels through which the Euro could affect the economies in the region and at the risks and opportunities for Sub-Saharan African countries. In particular, the paper looks into effects from the trade channel through changes in the European economic activity and real exchange rate. Because of a relatively low-income elasticity with respect to primary commodities, which is what Sub-Saharan Africa primarily exports, any increase in activity in Europe is deemed to have an inferior impact on Africa. Exchange rate regimes and geographical trade patterns points to large differences in the exposure to changes in the real exchange rate. Capital flows to Sub-Saharan Africa can be affected via changes in foreign direct investments (FDI) or via portfolio shifts. The former is not expected to be under much influence from changes in competitiveness in Europe, and therefore no significant effect on FDI is to be expected. Portfolio diversification can potentially increase by a large amount. Realization of the increased potential is not to be expected because of severely underdeveloped domestic capital markets, which underlines the necessity for Sub-Saharan African countries to strengthen their financial integration with global markets. Financial implications, such as affects on the banking system, and debt and reserve management, vary across countries but are in general expected to be of limited magnitude. Thus, at this stage it is difficult to conclude that the Euro will result in an important macroeconomic impact in Sub-Saharan Africa unless the launch of the Euro becomes a tool of a major policy shift, 'Euroization' of the continent, which is itself unlikely at the current stage.
主题International Macroeconomics
关键词Africa Euro Foreign direct investment
URLhttps://cepr.org/publications/dp2291
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/531383
推荐引用方式
GB/T 7714
Paul Levine,Joseph Pearlman,Michael Chui. DP2291 Winners and Losers in a North-South Model of Growth, Innovation and Product Cycles. 1999.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Paul Levine]的文章
[Joseph Pearlman]的文章
[Michael Chui]的文章
百度学术
百度学术中相似的文章
[Paul Levine]的文章
[Joseph Pearlman]的文章
[Michael Chui]的文章
必应学术
必应学术中相似的文章
[Paul Levine]的文章
[Joseph Pearlman]的文章
[Michael Chui]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。