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Exchange Rate Policy And The Structural Adjustment Programme In African Countries: Case Studies Of Zambia, Kenya, Ghana And Nigeria, S. E. Omoruyi
Exchange Rate Policy And The Structural Adjustment Programme In African Countries: Case Studies Of Zambia, Kenya, Ghana And Nigeria, S. E. Omoruyi
Economic and Financial Review
The purpose of this paper is to review the experiences of some selected countries in Africa- Zambia, Kenya, Ghana and Nigeria- that have implemented adjustment programmes supported by the use of IMF resources, focusing largely on the role of their exchange rate policies. The paper is divided into four parts. Part I highlights the policy targets/objectives and instruments of structural adjustment and discusses in some detail.the role of exchange rate in the programmes of the countries under reference. In Part II, a theoretical analysis is undertaken of exchange rate concepts and the typology of the transmission mechanism linking exchange rate …