A typology of foreign auction markets in sub-Saharan Africa.

Working paper

The authors compare and contrast the design and outcomes of different foreign exchange auctions in four countries in sub-Saharan Africa and present a typology of such auctions. They identify two distinct sets of countries in terms of the auctions' features, policy interventions, and outcomes. In Ghana and Uganda, the exchange rate auctions are judged to have been largely on target in exchange rate unification, exchange rate stabilization, and efficient allocation of foreign exchange. The auct...

Expand abstract

Authors: Aron, J; Elbadawi, I

• Publisher: World Bank
• Series: Policy Research Working Paper Series
• Publication date: 1994-01-01
• Language: English