High-Level Report offers new vision for macroeconomic policy in Africa and regulatory responses to new global finance
Finance in Africa is undergoing a rapid transformation, as pan-African banks begin to replace long-standing European banks in many countries on the continent, and mobile banking continues to foster unprecedented levels of financial inclusion.
How should African regulators respond to these developments? A report published by the Global Economic Governance Programme on 18 May addresses this question, assessing the opportunities and challenges faced by regulators as they navigate the end of the commodity super-cycle and tackle the adverse effects of global financial standards on remittances.
The report summarizes the findings of a High-level Roundtable of experts from national regulators, academia, the private sector, and global financial organizations, convened by The Global Economic Governance Programme and the Political Economy of Financial Markets Programme at St Antony’s College, and held at the Blavatnik School of Government, Oxford in March 2015.
The report critically examines the economics and political economy of these new developments and their implications for regulatory design to address the following key issues:
- How can African regulators best manage cross-border capital flows?
- What opportunities and challenges do the rapid growth of cross-border and mobile banking pose?
- What have been the tangible impacts of global financial standards?
The report can be downloaded from the link below.