Professors Abor and Quartey Launch Groundbreaking Book on Monetary Economics in Emerging and Developing Countries

Two UG scholars, Prof. Joshua Yindenaba Abor from the Department of Finance, University of Ghana Business School and Prof. Peter Quartey, Director of the Institute of Statistical, Social and Economic Research (ISSER), have co-authored and launched a new book, ‘Monetary Economics in Emerging and Developing Countries.’ The other authors include Prof. Joseph G. Nellis from Cranfield University, UK and Dr. Lakshmi Subramanian from the Centre for Studies in Social Sciences, Calcutta, India.

At the launch, Prof. Abor emphasised the book’s relevance in addressing financial challenges in emerging economies, while Prof. Quartey underscored its practical application for students, researchers and financial practitioners.

Prof. Abor remarked, ‘We explore critical issues such as financial inclusion, informal financial markets and the role of central banks in economic development.”

"One of the key aspects of the book is its discussion on how global financial crises and pandemics, such as COVID-19, impact monetary policy in developing economies. Understanding these dynamics is crucial in building resilient financial systems that can withstand external shocks,” he added.

Prof. Quartey, articulated that,  “This book does not only provide theoretical insights but also presents empirical evidence and case studies from various developing economies, demonstrating how monetary policies have shaped economic outcomes. We analyse key policy interventions and their effectiveness in different economic contexts.”

Chairing the event, President of the ECOWAS Bank for Investment and Development (EBID), Dr. George Agyekum Donkor, highlighted the book’s significance in bridging gaps in monetary policy research for developing economies.

“Monetary Economics is a crucial field that influences economic stability, inflation control and overall financial system efficiency. However, much of the existing literature focuses on developed economies, leaving a gap in knowledge and practical applications for emerging and developing nations. This book fills that void. It provides a rich analysis of monetary policy frameworks, financial structures and macroeconomic stability tailored to the realities of developing countries," he stated.  

Representing the Governor of the Bank of Ghana in officially declaring the book launched, First Deputy Governor, Dr. Zakari Mumuni, described it as a vital resource for policymakers, financial analysts and scholars. He also reviewed the book, commending its in-depth analysis of monetary policy frameworks, financial sector reforms, and macroeconomic stability in developing economies.

“As a central bank, our role is to ensure monetary stability and a book like this serves as a critical reference in shaping policies that are responsive to the unique challenges of our economy. The discussions on inflation targeting, exchange rate regimes and central banking strategies are particularly insightful. I encourage policymakers, financial analysts and scholars to engage deeply with its contents,” Dr. Mumuni affirmed. 

Head of the Department of Finance at the University of Ghana Business School, Prof. (Mrs.) Vera Fiador, reiterated the book’s detailed examination of financial systems, inflation control and exchange rate management.

“This book is more than an academic exercise; it is a policy guide that will benefit decision-makers in both public and private financial institutions. The authors have masterfully blended theory with empirical analysis to offer insights that are applicable to real-world economic challenges,” she remarked.  

The publisher, Routledge Publishing, UK, praised the book for its practical approach, combining theory with real-world case studies. ‘‘Unlike many traditional monetary economics textbooks that are largely theoretical, this book integrates practical case studies, making it a valuable resource for students, policymakers, and practitioners alike. We are proud to be the publishers of such an important academic contribution.”

Present at the launch were faculty, staff and students.