Independent; Copperstone University ; Charisma university

Kouam Henri

Independent

Date Written: March 17, 2020

Abstract

As demonic panic continues to grip the world over the outbreak of COVID19, There is plenty of bearish sentiment hanging over the markets. The economies of most sub-Saharan African countries who for the past three years have been under the IMF economic partnership program may have to develop extra muscles to face the continues drop in commodity prices most especially crude oil. The continuous spread of COVID-19 seems to be the major external economic compass on which all a sundry rely for the market orientation. Oil prices have plummeted as the Coronavirus has intensified across much of Europe and North America. The Energy Information Agency (EIA) has revised down its global oil demand forecast, which suggests that major importers such as China as well as European countries will reduce demand for oil. The latter has followed the trend of industrial production, which has slowed as manufacturing of waxes, perfumes, dyes, shaving creams, shampoos and conditioners that rely on refined oil have been disrupted by the virus. As such, Brent and WTI both fell by 24.59% and 30% to $31.13 and $30 per barrel respectively on Monday, March 9th. Not only has the virus halted manufacturing supply chains in China, but it has also exacerbated the global cyclical slowdown, with both Euro Area and German industrial production plummeting in recent months.

Keywords: COVID-19, oil prices, sub-sahara Africa, IMF, economic partnership programs, CEMAC

Suggested Citation:

Kingsly, Professor kelly and Henri, Kouam, COVID-19 and Oil Prices (March 17, 2020). Available at SSRN: https://ssrn.com/abstract=3555880 or http://dx.doi.org/10.2139/ssrn.3555880

The post COVID-19 and Oil Prices appeared first on Head of Finance Operations | Liquidity and debt management| Kelly Kingsly.

Independent; Copperstone University ; Charisma university

Kouam Henri

Independent

There are 2 versions of this paper

Date Written: March 17, 2020 Download this paper

Abstract

The corona virus, (Covid-19) has spread to several continents and Italy has in recent days become Europe’s worst-affected country. Whilst the humanitarian costs leaves little to desire, the economic impact has halted manufacturing supply chains across china and the world, caused imports of crude oil to fall by 25%, global economic activity to slow and oil prices to hit 31-$33/bl. In the meantime, central banks have cut interest rates in an attempt to reduce the adverse effects of a slowing global economy but commodity exporters such as Nigeria, South Africa and Cameroon will likely bear the brunt of weaker demand. Rather than stimulate domestic economies via interest rate cuts, central banks should emphasise the need for targeted fiscal reforms that prioritise higher value-added products such as green technologies, consumer and non-consumer products, intermediate products and components for industrial machinery. Such an approach will increase the number of people employed in formal sectors, reduce the impact of the virus on long-term economic growth whilst improving the pass-through from monetary policy to economic activity and inflation.

Keywords: Corona Virus, COVID-19, Europe, worst affected country, global economics, Cameroon domestic growth, interest rates, intermediate products, central bans, green technologies, non consumer products

Suggested Citation: Kingsly, Professor kelly and Henri, Kouam, Coronavirus and Carbon Transition for Developing Economies (March 17, 2020). Available at SSRN: https://ssrn.com/abstract=3555901 or http://dx.doi.org/10.2139/ssrn.3555901

The post Coronavirus and Carbon Transition for Developing Economies appeared first on Head of Finance Operations | Liquidity and debt management| Kelly Kingsly.

Independent; Copperstone University ; Charisma university

Kouam Henri

Independent

Date Written: March 27, 2020 Download this paper

Abstract

Central Banks have cut interest rates to historic lows in an attempt to reduce the adverse impact of COVID-19, while unprecedented liquidity infusions have been used to reduce funding constraints and frictions in the financial market. Monetary policy will lessen the economic and financial fallout from the virus, policymakers should emphasise the need for targeted fiscal measures to complement accommodative monetary policy and central bank liquidity. These should culminate fiscal transfers, wage subsidies and a significant reduction in social security contributions for households. Nevertheless, central banks should begin stemming structural vulnerabilities in financial markets and ensure that liquidity infusions are a short-term measure designed to improve the transmissions of monetary policy rather than create financial market dependence, as has been the case since the financial crisis.

The Coronavirus or COVID-19 has caused the global economy to grow at a slower pace, government yields have tumbled and liquidity constraints have increased in financial markets across advanced economies. Prior to this, the United States and China were locked in a geopolitical, economic and technological rivalry that caused a synchronized cyclical slowdown as businesses to postpone investment decisions. This trend of slowing capital investments into productive sectors such as green technology and renewable energy saw productivity wane, and global woes were compounded by Brexit amidst sluggish growth in the single market. Following the signing of a phase one of the trade agreement and the USMCA, COVID-19 began to spread in Wuhan, the capital of Hubei province. Since then, the virus has spread to Italy, North America and Africa. In the meantime, global manufacturing supply chains for cosmetics, the auto sector, consumer and industrial products stalled, business and consumer sentiment plummeted in some advanced economies and the service sector spanning tourism, transportation, restaurants have been adversely affected by the virus. Central Banks can assess the impact of the Coronavirus from two standpoints.

Keywords: central banks, interest rates, COVID-19, coronavirus, financial impact, monetary policy, economic and financial fall outs, Brexit, slaugish growth

Suggested Citation: Kingsly, Professor kelly and Henri, Kouam, Central Banks Respond to COVID-19 to Stave off a Financial Crisis, They Need for Targeted Fiscal Measures Should not Be Understated (March 27, 2020). Available at SSRN: https://ssrn.com/abstract=3562320 or http://dx.doi.org/10.2139/ssrn.3562320

The post Central Banks Respond to COVID-19 to Stave off a Financial Crisis, They Need for Targeted Fiscal Measures Should not Be Understated appeared first on Head of Finance Operations | Liquidity and debt management| Kelly Kingsly.

Independent; Copperstone University ; Charisma university

Date Written: March 27, 2020 Download this paper

Abstract

French Abstract: Les banques centrales ont abaissé leurs taux d’intérêt à leurs plus bas historiques pour tenter de réduire l’impact négatif de COVID-19, tandis que des injections de liquidités sans précédent ont été utilisées pour réduire les contraintes de financement et les frictions sur le marché financier. La politique monétaire atténuera les retombées économiques et financières du virus, les décideurs politiques devraient souligner la nécessité de mesures fiscales ciblées pour compléter la politique monétaire accommodante et la liquidité de la banque centrale. Celles-ci devraient aboutir à des transferts fiscaux, des subventions salariales et une réduction significative des cotisations de sécurité sociale pour les ménages. Néanmoins, les banques centrales devraient commencer à endiguer les vulnérabilités structurelles des marchés financiers et veiller à ce que les injections de liquidités soient une mesure à court terme conçue pour améliorer les transmissions de la politique monétaire plutôt que de créer une dépendance aux marchés financiers, comme cela a été le cas depuis la crise financière.
Le Coronavirus ou COVID-19 a fait ralentir l’économie mondiale, les rendements gouvernementaux ont chuté et les contraintes de liquidité se sont accrues sur les marchés financiers des économies avancées. Avant cela, les États-Unis et la Chine étaient enfermés dans une rivalité géopolitique, économique et technologique qui a provoqué un ralentissement cyclique synchronisé alors que les entreprises reportaient les décisions d’investissement. Cette tendance à ralentir les investissements en capital dans des secteurs productifs tels que les technologies vertes et les énergies renouvelables a vu la productivité décliner; et les malheurs mondiaux ont été aggravés par le Brexit dans un contexte de croissance atone du marché unique. Après la signature de la première phase de l’accord commercial et de l’USMCA, COVID-19 a commencé à se répandre à Wuhan, la capitale de la province du Hubei. Depuis lors, le virus s’est propagé en Italie, en Amérique du Nord et en Afrique. Dans l’intervalle, les chaînes d’approvisionnement mondiales de la fabrication de cosmétiques, du secteur automobile, des produits de consommation et industriels sont au point mort, le sentiment des entreprises et des consommateurs a chuté dans certaines économies avancées et le secteur des services, qui englobe le tourisme, les transports et les restaurants, a été affecté par le virus. Les banques centrales peuvent évaluer l’impact du virus Corona de deux points de vue;

English Abstract: Central Banks have cut interest rates to historic lows in an attempt to reduce the adverse impact of COVID-19, while unprecedented liquidity infusions have been used to reduce funding constraints and frictions in financial market. Monetary policy will lessen the economic and financial fallout from the virus, policy makers should emphasise the need for targeted fiscal measures to complement accommodative monetary policy and central bank liquidity. These should culminate fiscal transfers, wage subsidies and significant reduction in social security contributions for households. Nevertheless, central banks should begin stemming structural vulnerabilities in financial markets and ensure that liquidity infusions are a short-term measure designed to improve the transmissions of monetary policy rather than create financial market dependence, as has been the case since the financial crisis.

The Coronavirus or COVID-19 has caused the global economy to grow at a slower pace, government yields have tumbled and liquidity constraints have increased in financial markets across advanced economies. Prior to this, the United States and China were locked in a geopolitical, economic and technological rivalry that caused a synchronized cyclical slowdown as businesses to postpone investment decisions. This trend of slowing capital investments into productive sectors such as green technology and renewable energy saw productivity wane; and global woes were compounded by Brexit amidst sluggish growth in the single market. Following the signing of a phase one of the trade agreement and the USMCA, COVID-19 began to spread in Wuhan, the capital of Hubei province. Since then, the virus has spread to Italy, North America and Africa. In the meantime, global manufacturing supply chains for cosmetics, auto sector, consumer and industrial products stalled, business and consumer sentiment plummeted in some advanced economies and the service sector spanning tourism, transportation, restaurants have been adversely affected by the virus. Central Banks can assess the impact of the Corona virus from two stand points.

Note: Downloadable document is in French.

Keywords: Banque Central, COVID-19, BREXIT, injection des liquidite, financement, croissance, finance, emploi, CORONAVIRUS, l’economie mondial

Suggested Citation: Kingsly, Professor kelly, Reponse agressive des Banques Centrales – COVID-19 (Agressive Response of the Central Bank to the COVID-19 Pandemic) (March 27, 2020). Available at SSRN: https://ssrn.com/abstract=3562329 or http://dx.doi.org/10.2139/ssrn.3562329

The post Reponse agressive des Banques Centrales – COVID-19 (Agressive Response of the Central Bank to the COVID-19 Pandemic) appeared first on Head of Finance Operations | Liquidity and debt management| Kelly Kingsly.

Independent; Copperstone University ; Charisma university

Date Written: January 23, 2016 Download this paper

Abstract

Early economists and other researchers have paid little attention to any link between religion and economic development; rather it is seen as something personal between man and his God. Religion, as a system of faith is based on belief in the existence of a particular God or gods, to some extent, influences or contributes in developing and coordinating the expression of the capacities latent in human nature for the progress of the society. Religion’s role in the determination of economic growth from central perspective is that religion affects economic outcomes mainly by fostering religious beliefs that influence individual traits such as honesty, work ethic, thrift, and openness to strangers. The paper examines the role of religion in transforming village-style and centralized government in Africa societies to democracy system of government. It also reviewed the economic system in Africa prior to colonial/missionaries arrival in Africa. From various accounts, religion has contributed immensely to the economic development of the country through investment in different sectors of the economy like real estate, capital market, shopping complex, schools and banks (including Islamic banks).

Keywords: Religion, economic development, political transformation

Suggested Citation: Kingsly, Professor kelly, Religion as a Tool for Economic/Political Transformation (January 23, 2016). Available at SSRN: https://ssrn.com/abstract=2720966 or http://dx.doi.org/10.2139/ssrn.2720966

The post Religion as a Tool for Economic/Political Transformation appeared first on Head of Finance Operations | Liquidity and debt management| Kelly Kingsly.