Towards Financial Independence in a Developing Economy

An Analysis of the Monetary Experience of the Federation of Rhodesia and Nyasaland, 1952-1963

By R. A. Sowelem

© 2011 – Routledge

332 pages

Purchasing Options:
Paperback: 9780415853156
pub: 2013-03-28
Hardback: 9780415593724
pub: 2010-11-26

About the Book

First published in 1967, this is a unique study of the establishment of the Bank of Rhodesia and Nyasland – a central bank and London-type money market in a financially externally dependent economy.

The book deals with the adaptation and initiation of financial institutions in a developing country previously completely dependent on external financial centres and externally controlled financial institutions. Dr Sowelem’s authoritative and detailed study provides valuable information on the inter-related questions of central bank control and the development of specialist money markets in developing countries.

Table of Contents

Part I 1. Political and Economic Background 2. The Monetary Authority 3. The Commercial Banking System 4. The Money Market 5. The Capital Market 6. Non-Bank Financial Intermediaries Part II 7. Incomes, Employment, Prices and the Balance of Payments, 1952-63 8. The Scope for Monetary Policy in an Expatriate Banking System 9. The Impact of the Establishment of a Central Bank 10. The Impact of the Establishment of a Central Bank (Continued) 12. The Role of Non-Bank Financial Intermediaries

Subject Categories

BISAC Subject Codes/Headings:
BUSINESS & ECONOMICS / Development / Economic Development
BUSINESS & ECONOMICS / Development / Sustainable Development
BUSINESS & ECONOMICS / Development / General