Cross-border trade and the parallel currency market - trade and finance in the context of structural adjustment : a case study from Kano, Nigeria

Upphovspersoner: Hashim, Yahaya | Meagher, Kate
Utgivare: Nordiska Afrikainstitutet | Uppsala : Nordiska Afrikainstitutet
År: 1999
Ämnesord: Nigeria, West Africa, International Trade, Trade liberalization, Currencies, Exchange Rate, French Franc area, Structural Adjustment, SOCIAL SCIENCES, SAMHÄLLSVETENSKAP
A "new regionalism" is gathering pace in West Africa, underpinned by the growing activities of informal cross-border traders. The authors of this study challenge the assumptions of the World Bank that the expansion in informal cross-border trade is a vindication of the market liberalising thrust of structural adjustment, and that adjustment policies have, in an organic manner, improved the effectiveness of an "independent" bourgeoisie that is emerging out of this trade as an agent of regional integration. Instead, they make the case for the adoption of what they call a "development approach" for tapping the benefits of the informal currency markets, as an alternative to the "market coercion" of structural adjustment.