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Wolassa L. Kumo's Articles

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The Global Productivity Trends and the Changing World Economic Order
Productivity and economic growth in advanced economies have persistently declined during the past three decades while they have accelarated in emerging economies. This may lead to a new global economic order with in the coming three decades.
The Environmental Performance Index and the Future of Our Planet
The climate change challenge is not a zero-sum game. The game is either positive-sum or negative-sum. By adopting an appropriate and legally binding carbon emission reduction global approach, everyone will gain; if not everyone will lose.
The African Economic Community: rhetoric vs. reality
To fully participate in the global economics during this era of rapid technological change and globalization, African countries must urgently adjust their economies. The establishment of the AU and the pan African Parliament following the Abuja Treaty and the Sirte agreements are moves in the right direction. But the current debate on the the "United States of Africa" is rhetoric.
Human Migration as a Global Development Challenge
Migration is an integral part of human history. However, human moblity is facing serious challenges at present due to misconceptions abou it. Most migration is internal. Only 30% of migration is from developing to developed countries. Migrants typically boost economic output and give more than they take. Immigration generally increases employment in host communities, does not crowd out locals from the job market and improves rates of investment in new businesses and initiatives.
Root Causes of African Underdevelopment and Opportunities for Revival
Africa's share in global wealth (GDP) is less than 4% while its share in global population is nearly 16%. Africa's dismal economic performance has puzzled many analysts.
The Threat of a New Debt Crisis in Developing Countries
Estimates indicate that, today developing countries' debt stocks stand at a staggering US$2.9 trillion, and every day the poorest countries pay the rich world almost US$100 million in debt repayments. Heavily indebted poor developing countries need an urgent bail-out of unjust and unpayable debts.
Professor Gebisa Ejeta Wins 2009 World Food Prize
An acclaimed Oromo Ethiopian plant breeder and geneticist Professor Gebisa Ejeta has won the 2009 World Food Prize for developing drought-tolerant and parasite-resistant sorghum crop. Sorghum is one of the world's five principal grains and staple food for about 500 million Africans.
The Sidama people of Africa: The Institution of Cimeessa - The Respected Elder
The power of elders in the Sidama society was not based on a simple age count as is the case in most modern societies. The Sidama elder is more the product of various social processes through which a person (usually a man) passes than the product of a simple aging.
The Sidama People of Africa: An Overview of History, Culture and Economy: Part II
The Sidama region is highly overpopulated. Land holdings have dwindled to less than 0.3 hectares per household due to population explosion. As a result extensive farming is not a viable option. To reduce the current massive rural underemployment,urban unemployment, and excruciating poverty, the region must implement a rapid and massive alternative income and employment generation schemes
The Sidama People of Africa: An Overview of History, Culture and Economy: Part I
One of the ancient Kushites, the Sidama people live in the southern part of the present day Ethiopia,with notable geographical features such as lake Awassa in the North and lake Abaya in the South. Before the 1891 annexion into the bigger Ethiopia, these people lived more egalitarian way of life and excercised the most democratic system of political adminisration.
Foreign Exchange Reserves During Economic Crisis
Since the collapse of Bretton Woods institutions, it became necessary to maintain foreign exchange reserves by monetary authorities globally. The Emerging market economies particularly the BRICs are the largest holders of foreign exchange reserves. This has substantially insulated them from the severe impacts of the current Great Recession.
The Democracy Index and Africa’s Performance
The Economist Intelligence Unit's democracy index focuses on five key indicators of democracy: electoral process and pluralism; functioning of government; political participation; political culture; and civil liberties. Based on these measures, only 30 countries are found to be full democracies in the world. 50 are flawed democracies while 87 are hybrid and authoritarian regimes. Most of the latter are found in Africa which is also a home for the longest serving republican heads of state.
Kush, Nubia, Ethiopia and Sudan: Ancient Civilisations and Modern Nomenclature: Part II
The Nubians and Kushites are two distinct ancient peoples that lived in North East Africa. The Kushites ruled parts of Egypt and northern Sudan since 2600 BC but their prominence rose when they formed the 25th Egyptian dyansty in the 8th century BC and ruled Egypt for about a century. It was this great Kushitic people that lived primarily in the northern part of the present day Sudan, that the ancient Greeks and Romans called the "Aithiopians" or ‘Ethiopians’.
Kush, Nubia, Ethiopia and Sudan: Ancient Civilisations and Modern Nomenclature: Part I
The Nubians and Kushites are two distinct ancient peoples that lived in North East Africa. The Kushites ruled parts of Egypt and northern Sudan since 2600 BC but their prominence rose when they formed the 25th Egyptian dyansty in the 8th century BC and ruled Egypt for about a century. It was this great Kushitic people that lived primarily in the northern part of the present day Sudan, that the ancient Greeks and Romans called the "Aithiopians" or ‘Ethiopians’.
The Global Economic Crisis and the Resurgence of Keynesian Economics
Markets do not have any automatic mechanism to self correct in the short run. In the long run, however, the market forces will drive the economy into equilibrium, if the government takes appropriate actions to correct the short run fluctuations through appropriate macropolicies. Price still provides the best signal in resources allocation if greed and speculation are minimized and adequate level of regulatory measures are instituted.
Asia’s Development Miracle and Africa’s Development Tragedy of the Late 20th Century: Key Lessons
There is no single East Asia development model that can be replicated in Africa. To achieve and sustain higher growth levels, Africa needs to devise balanced economic polices that put the private sector at the centre of economic growth and job creation.
Foreign Direct Investment in Africa: Trends, Opportunities and Challenges
Africa has attracted smaller FDI inflows compared to the other developing regions. However, the recent trends in FDI inflows into the continent are very much encouraging.
The Falling Commodity Prices, Global Recession and the African Economies
While the end of the commodity price boom is a relief to commodity importing African countries, it is a sad news for the African exporters. The abrupt end of the commodity price boom in mid 2008 could have serious consequences on the continents' over all future growth performance.
Ethiopia Establishes National Commodity Exchange: Sidama Coffee Regains its True Identity
The Ethiopian Commodity Exchange is established to trade in three major groups of agricultural commodities: Coffee, Grains and Pulses. The Sidama Coffee previously traded under the misnomer "Sidamo" coffee is now being traded in its rightful name Sidama coffee.
Financial Crisis and the Credit Channel of Monetary Policy Transmission
Credit channel or bank capital channel or both may be rersponsible for the transmission of monetary policy shocks into the real economy
Should African Stock Exchanges Demutualize?
Global wave of exchange demutualization puts African exchanges under pressure.
The Kushitic Civilization of North East Africa: An Overview
The Pharaohs of Egypt's 25th Dynasty, the Kushitic People of North East Africa, need recognition to their contributions to the global civilization
Stock Exchange in Africa: Prospects and Challenges
Expanding African securities exchange face size and liquidity problems
The African Currencies and their Exchange Rate Volatility
There are as many currencies in Africa as the number of countries. Except the Communaute Financiere Africaine franc (XOF) or (XAF), or CFA franc, for short, there are limited currencies of regional significance in the continent. The multiplicity of currencies and limited monetary and economic integration puts the continent at a disadvantage especially during the time of global economic shocks such as the current global economic crisis.

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