UGBS Professor of Finance, Joshua Yindenaba Abor Launches Book on Monetary Economics in Emerging and Developing Countries
Prof. Joshua Yindenaba Abor, a Professor of Finance at the University of Ghana Business School (UGBS), has launched a new book titled Monetary Economics in Emerging and Developing Countries. The book, co-authored with Prof. Peter Quartey, Prof. Joseph G. Nellis, and Dr. Lakshmy Subramanian, provides a comprehensive analysis of monetary systems in emerging economies, bridging theoretical foundations with practical applications.
The book launch took place on 20th March 2025 at the ISSER Conference Facility, University of Ghana, attracting policymakers, academics, and industry leaders. Mr. Bernard Avle, General Manager of Citi FM/Channel One TV, moderated the event. He emphasised the book’s relevance, especially as Ghana’s central bank prepares for its upcoming Monetary Policy Committee meeting.
Dr. George Agyekum Donkor, President of the ECOWAS Bank for Investment and Development, chaired the event. In his remarks, he underscored the book’s importance in understanding monetary policy and its effects on inflation, interest rates, unemployment, and economic growth. He noted that while inflation control measures have improved in many countries, the responses of monetary policy have often led to rising interest rates in struggling economies. “This book is an important resource for understanding the intended and unintended consequences of policy interventions,” he stated.
Dr. Zakari Mumuni, First Deputy Governor of the Bank of Ghana, served as the guest of honour on behalf of the Governor and reviewed the book. He described it as “the most comprehensive and current analysis of monetary and economic systems in emerging and developing countries.” According to him, the book delves into key areas such as the characteristics of emerging economies, macroeconomic policies, financial markets, and international financial systems. He emphasised that the book addresses a critical gap in economic literature, which often focuses more on developed economies. “It offers insights into the challenges facing emerging economies and their financial systems, making it an essential resource for policymakers, researchers, and students,” he added.
Routledge Publishing, UK, which published the book, commended its scholarly depth. “This book distinguishes itself by focusing on emerging and developing countries rather than just developed economies. It has undergone a rigorous peer review process and stands as a well-articulated, globally significant contribution to monetary economics.”
Prof. Vera Fiador, Head of the Department of Finance at UGBS, also reviewed the book, describing it as “a pivotal text that provides crucial resources for policymakers by presenting relevant case studies from both developed and emerging economies.” Speaking at the launch, Prof. Abor acknowledged the challenges involved in writing academic books but encouraged his colleagues to contribute more to economic literature. “Journal articles are important for academic progression, but we must also write books that influence both academia and policy,” he noted.
He highlighted the significance of understanding monetary policy within the unique contexts of emerging economies. “One cannot apply the same economic models designed for developed economies to emerging markets without adaptation. This book presents a comprehensive discussion on the distinct characteristics of these economies and their monetary policies,” he explained. Prof. Abor also expressed gratitude to his co-authors, reviewers, and the publishing team for their contributions. He encouraged academics and researchers, particularly in Africa, to engage in more collaborative projects that inform policy and practice.
Monetary Economics in Emerging and Developing Countries is expected to serve as a key resource for students, researchers, policymakers, and industry practitioners. With its in-depth analysis and practical insights, the book provides valuable perspectives on how monetary policies shape economic growth and financial stability in developing economies.
