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The Politics of Finance: How Capital Sways African Central Banks

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  • Florence Dafe

Abstract

While there is a large literature on the politics of central banking its insights are difficult to translate to sub-Saharan Africa. This article addresses gaps in this literature by considering how the interests of those who control financial resources sway African central banks. Case studies of Kenya, Nigeria and Uganda demonstrate that variation in the sources of capital on which countries rely to finance investment helps to account for the pattern of variation in central bank policy stances. The analysis further develops and probes arguments about power derived from the control of capital in the context of developing countries.

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  • Florence Dafe, 2019. "The Politics of Finance: How Capital Sways African Central Banks," Journal of Development Studies, Taylor & Francis Journals, vol. 55(2), pages 311-327, February.
    • Handle: RePEc:taf:jdevst:v:55:y:2019:i:2:p:311-327
    DOI: 10.1080/00220388.2017.1380793
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    Cited by:

    1. Pritish Behuria, 2019. "The comparative political economy of plastic bag bans in East Africa: why implementation has varied in Rwanda, Kenya and Uganda," Global Development Institute Working Paper Series 372019, GDI, The University of Manchester.

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