From 1983, Ghana embarked on an economic recovery programme (ERP), an important feature which was trade and foreign exchange liberalization. This called for a legalization of the black market into foreign exchange (forex) bureaus. This paper looks at the structure of this market, including the...

The dominent influence of South African goods on the Botswana CPI basket leads to the expectation that South African prices have a significant role in determining prices in Botswana. This paper examines Botswana's price and inflation relationships and their interaction.

This report analyses the effects of real exchange rate (RER) movements (defined in terms of misalignment and volatility) on the growth of non-oil exports in Nigeria over the period 1960-1990. RER is defined as the relative price of tradeables to non-tradeables, and RER misalignments are derived...

This study examines the impact of foreign aid inflows to Tanzania on macroeconomic variables such as the real exchange rate, export performance, government expenditure, investment and growth.

By employing the techniques of multivariate cointegration and error-correction models, we investigate the impact of the creation of the European Monetary System (EMS) on the exports of the four largest EU countries to each other. Our findings suggest that the impact of the EMS on bilateral...