1st Edition

Towards Financial Independence in a Developing Economy
An Analysis of the Monetary Experience of the Federation of Rhodesia and Nyasaland, 1952-1963




ISBN 9780415853156
Published May 21, 2013 by Routledge
326 Pages

USD $55.95

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Book Description

First published in 1967, this is a unique study of the establishment of the Bank of Rhodesia and Nyasland – a central bank and London-type money market in a financially externally dependent economy.

The book deals with the adaptation and initiation of financial institutions in a developing country previously completely dependent on external financial centres and externally controlled financial institutions. Dr Sowelem’s authoritative and detailed study provides valuable information on the inter-related questions of central bank control and the development of specialist money markets in developing countries.

Table of Contents

Part I  1. Political and Economic Background  2. The Monetary Authority  3. The Commercial Banking System  4. The Money Market  5. The Capital Market  6. Non-Bank Financial Intermediaries  Part II  7. Incomes, Employment, Prices and the Balance of Payments, 1952-63  8. The Scope for Monetary Policy in an Expatriate Banking System  9. The Impact of the Establishment of a Central Bank  10. The Impact of the Establishment of a Central Bank (Continued)  12. The Role of Non-Bank Financial Intermediaries

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