Date of Birth
Visiting Professor of Economic Governance, Central University College, Ghana.
March -Dec 2012
Vice Presidential candidate, New Patriotic Party in the December 2012 Ghanaian Presidential Elections.
Jan. 2011- April 2012
Resident Representative, African Development Bank Group (Zimbabwe). Responsible for AfDB relations with Zimbabwe, Research-Based Technical Advice to Government, Coordination with Donor Community, Oversight Responsibility for Administration of the Zimbabwe Multi-Donor Trust Fund.
Visiting Senior Research Associate, Centre for the Study of African Economies, Department of Economics, University of Oxford. Undertook research and published a book on Monetary Policy and Financial Sector Reform in Africa
Fellow International Growth Centre (IGC). Served as IGC Country Team Member for Sierra Leone. Also served as Advisor to Central Bank of Sierra Leone on redesigning the organizational structure of the bank and its monetary policy framework.
Visiting Scholar, University of British Columbia, Liu Centre for Global Studies and Fisheries Centre.
Consultant Economic Commission for Africa. Prepared a paper on Africa’s Position for the G20 London Summit.
June 2006- Jan 2009
Deputy Governor, Bank of Ghana, Responsible for Monetary Policy, Financial Stability, and Payments System Reform
June 2006-Jan 2009
Member of the Board of Directors, Bank of Ghana, Ghana International Bank (UK), Ghana Telecom, Revenue Agencies Governing Board, Social Security and National Insurance Trust.
Jan. 2005- Jan, 2009
Chairman, Capital Markets Committee (Ghana). Had oversight responsibility for putting together the strategy for Ghana accessing the International capital markets with a debut $750 million Sovereign Bond.
Vice Presidential candidate, New Patriotic Party for the December 2008 Ghanaian Presidential Elections.
Head, Monetary Policy and Financial Stability Department, Bank of Ghana. Responsible for the analytical work leading to the setting up of the Bank’s Monetary Policy Committee (MPC) and oversight for technical work presented to the MPC.
- Leader of Bank of Ghana Technical Team and part of Government Team that negotiated with the World Bank and International Monetary Fund for HIPC and Poverty Reduction and Growth Facility programs.
- Member of Government team tasked to negotiate the Millennium Challenge Account (MCA) Compact with the U.S. Government. Was responsible for drafting the financial sector component of the compact.
- Member of Government Technical Team on the deregulation of the Petroleum sector in Ghana.
Senior Economist, and Head of Economic Analysis, Bank of Ghana Research Department
Assistant Professor of Economics, Hankamer School of Business, Baylor University, Texas, USA
Summer intern (Economist), International Monetary Fund. Washington. D.C. Research Department.
Lecturer in Monetary Economics, Accounting, Banking Law, and Banking Principles. Emile Woolf College of Accountancy, London, England.
Key Determinants of National Development: Historical Perspectives and Implications for Developing Countries. Kwaku Appiah-Adu & M. Bawumia (eds) Forthcoming, Gower Publishing, U.K.
Monetary Policy and Financial Sector Reform in Africa: Ghana’s Experience. Booklocker. 2010
“Fisheries, Ecosystems and Piracy: A Case Study of Somalia” Fisheries Research, Sumaila, U.R. and M. Bawumia, September 2014
"Growth and Poverty Reduction in Africa: The Unwritten Rules of the Game", - Annual Colloquium of the Faculty of Arts and Sciences (FASS), Central University College, June 2014
"Restoring the Value of the Cedi". Distinguished Lecture Series Central University College, March 2014
“Ghana and the Oil Discovery. From Boom to Gloom” - Natural Resource Charter Conference, University of Oxford. June 12-13, 2014
“A Future Currency Regime for Zimbabwe”. African Development Bank Policy Brief, 2011
Towards a Green Economy. Contributor, UN Green Economy Report 2011.
“Africa and the Global Financial Crisis”. Paper presented at the American Economic Association Meetings. Atlanta, January 2010.
“The Emerging International Financial Architecture. Implications for Africa”. Paper prepared for the Economic Commission for Africa. March 2010.
“African Perspectives on the G20 London and Pittsburg Summits”. Paper prepared for the Economic Commission for Africa. March 2010.
“Africa and the G20 Summit”. Paper prepared for Economic Commission for Africa, March, 2009
“Overfishing and Piracy in Somalia” with Ussif Rashid Sumaila, University of British Columbia, Fisheries Centre Working Paper, October, 2009
Ghana’s Reforms Transform its Financial Sector” with Theresa Owusu and Arnold McIntyre, IMF Survey, May, 2008
“The Choice of Monetary Policy Regime in Ghana”, with Benjamin Amoah and Zakari Mumuni, Bank of Ghana Working Paper, July 2008.
“The Determination of Bank Interest Spreads in Ghana: An Empirical Analysis of Panel Data” with Martin Ofori and Franklin Belnye, Bank of Ghana Working Paper, September, 2005.
“Developing a Composite Indicator of Economic Activity in Ghana”, with Benjamin Amoah, Bank of Ghana Working Paper, February, 2004
“A simple Vector Error correction Forecasting Model for Ghana”, with Joseph Atta-Mensah, Bank of Ghana Working Paper August 2003
"Monetary Growth, Inflation and Exchange Rate Policy in Ghana"
Research Department, Bank of Ghana, Journal of the West African Monetary Institute, 2003.
“The Transmission mechanism for Monetary Policy in Ghana” with Philip Abradu-Otoo, Bank of Ghana Policy Paper , August, 2003
“The Determinants of Exchange Rates in Ghana”, with Zakari Mumuni. Bank of Ghana Working Paper. March, 2003
“The Feasibility of Monetary Union in West Africa”. Mimeo. Economic Commission for Africa. November 2002.
“Comparative Institutional Features of Different Common Central Banks” West African Monetary Institute. Mimeo. February, 2002.
“Designing an Exchange Rate Mechanism for the West African Monetary Zone”. West African Monetary Institute. Mimeo. February, 2002.
“Explaining African Economic Growth Performance: The case of Ghana” with Ernest Aryeetey and A. Fosu. Paper prepared for the African Economic Research Consortium. April 2001.
" Why the Apparent Rush to Market Reform"? Journal of Economics, 1999.
" The Sequencing of Fiscal Reform during Structural Adjustment. Lessons from Ghana, Uganda, and Zimbabwe". Comparative Economic Studies, Vol. XXXVIII No.2/3 Summer-Fall 1996
“A Closer Look at the Distributional Impact of Ghana’s Structural Adjustment Program (1983-1992). Journal of Modern African Studies. Vol. 36. No.1 March 1998.
“Estimating the Aggregate Values of Human Capital in Sub-Saharan Africa”, co-authored with Samuel A. Laryea. Review of Human Factor Studies. Vol. III No. 1. June 1997.
“Ecosystem justice and the marketplace”, 2000,p. 140 – 153 in Coward, H., Ommer, R., and Pitcher, T. J. (eds.), with Sumaila, U. R.. Fish ethics: Justice in the Canadian Fisheries. Institute of Social and Economic Research (ISER), Memorial University, St. John's, Newfoundland, Canada
"Africa, the Challenge of Development". Book Chapter in Stephen. Gardner's Comparative Economic Systems, Dryden, 1999.
“The Human Factor in Japanese Economic Development.”
Senyo B.S.K. Adjibolosoo (eds). International Studies of The Human Factor in Economic Development. Praegar,
1991 - 1995
Ph.D. in Economics
Simon Fraser University, Burnaby, British Columbia., Canada
Specialization: Macroeconomics, International Economics, and Monetary Economics
M.Sc. Development Economics
University of Oxford , UK (Lincoln College)
B.Sc. Economics (First Class Hons.)
University of Buckingham, UK
Associate of the Chartered Institute of Bankers (A.C.I.B) –U.K with distinction in Monetary Economics, Accountancy, Law and Banking Principles. Emile Woolf College of Accountancy, London, England 1975-1982
Tamale Secondary School, Ghana – GCE O and A-Levels
AWARDS AND HONOURS
African Leadership Award, African Leadership Magazine. For Contribution to Economic Policy Reform in Africa.
Fellow of the Chartered Institute of Bankers, Ghana (FCIB)
Young Researcher Award: Baylor University, Texas, USA
“Who is Who Among America’s Teachers?” 1999.
1986 Sir Alan Peacock Prize. Best Economics Student, Department of .Economics, University of Buckingham, UK.