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The politics of finance: How capital sways African central banks

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  • Dafe, Florence

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.

Suggested Citation

  • Dafe, Florence, 2017. "The politics of finance: How capital sways African central banks," LSE Research Online Documents on Economics 84552, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:84552
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    File URL: http://eprints.lse.ac.uk/84552/
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    Cited by:

    1. Koddenbrock, Kai & Sylla, Ndongo Samba, 2019. "Towards a political economy of monetary dependency: The case of the CFA franc in West Africa," MaxPo Discussion Paper Series 19/2, Max Planck Sciences Po Center on Coping with Instability in Market Societies (MaxPo).
    2. Dafe, Florence, 2018. "Fuelled power: oil, financiers and central bank policy in Nigeria," LSE Research Online Documents on Economics 89610, London School of Economics and Political Science, LSE Library.

    More about this item

    JEL classification:

    • F3 - International Economics - - International Finance
    • G3 - Financial Economics - - Corporate Finance and Governance

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