This reissue, first published in 1964, describes the contemporary problems faced and solutions found by the monetary and financial authorities of six African countries: Ghana, Morocco, Nigeria, the Rhodesias, the Sudan and Tunisia, from the establishment of their central banks until 1962.This study explores the special economic and social factors of these African countries and places emphasis upon the atmosphere of rapid change, growth and development. The author indicates common denominators, whilst making due allowance for the character of each individual country.
Part I 1. Money, Finance and Growth 2. The African Context 3. The Economic Background Part II 4. Central Banks in an African Context 5. The Establishment of Central Banks and their Statutory Obligations 6. Central Bank Policy: Laying a Foundation 7. Central Bank Policy: Making it Effective 8. Summary and Conclusion Part III 9. Financial Intermediaries and the Structure of Credit 10. Commercial Banks 11. Development Banks 12. Agricultural Credit Institutions 13. Savings Institutions and Insurance 14. Money and Capital Markets 15. Summary and Conclusion Part IV 16. The Limits of monetary Policy 17. The History of Monetization 18. The Problem of Monetization 19. Factors Affecting the Money Supply 20. The Fiduciary Issue 21. Interest Rate Policy and Open Market Operations 22. The Evolution of Monetary Policy Part V 23. Modern African Development Plans 24. The Financing of Development Plans 25. The Balance of Payments