SOAS University of London

Department of Economics

Exchange Rate Management in a Small Open Economy: the case of Zambia, 2002-2013

John Weeks

Date: 14 January 2014Time: 5:00 PM

Finishes: 14 January 2014Time: 7:00 PM

Venue: Russell Square: College Buildings Room: G3

Type of Event: Seminar

John Weeks is professor emeritus of SOAS, University of London. Has advised several central banks, including Argentina, Kenya and Zambia. His most recent book, written for the non-specialist, is Economics of the 1%: How mainstream economics serves the rich, obscures reality and distorts policy (Anthem Press).

The reduction of public sector regulation of the external account over the last twenty years resulted in ongoing exchange rate instability in sub-Saharan countries that undermines sustained economic growth.  However, even in small open economies the central bank has tools that can to a degree effectively manage this instability.  Zambia provides is an example of successful exchange rate management, despite the overwhelming and malign influence of private copper mining companies in the foreign exchange markets.  Moving to a rational foreign exchange policy requires that the Zambian government extend the regulations it recently introduced.

The paper for this seminar will be made available closer to the date of the seminar.

Organiser: Dr Stephanie Balnkenburg and Professor Mushtaq Khan

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