Monetary Theory, Institutions and Policy in an African Setting

This is a textbook in the discipline of Monetary Economics¿for use at especially postgraduate levels¿with an African dimension. The book uses African data, examples and experiences; it is written with an ¿African context or flavour¿ and covers theory, practice, policy and empirical evidence in so doing. Further, the book covers unique topics like the domestic payments mechanism, the informal financial sector, microfinance institutions, growth in a fragmented dual economy, detailed analyses of financial intermediation, and autonomy of central banks¿issues hardly covered in other textbooks in the discipline. This is in addition to the usual topics like money supply, demand for money, central banking and monetary policy, and inflation. Most of the existing textbooks are suitable for teaching courses to students outside Africa. The books are based on the working of economies of developed countries¿in terms of orientation, data and other information used, examples given, literature cited, topics covered and problem sets included in some of the books. The books lack the ¿African context¿ or ¿touch¿ as they are tuned to mainly developed economies.