Several countries in Africa – including Ghana, Kenya, Mozambique, Tanzania, and Uganda - have recently discovered large oil and gas or other mineral...
Do sovereign wealth funds (SWFs) contribute to Africa’s development? This paper assesses the objectives of SWFs (fiscal stabilization, productive investment, intergenerational saving) and discusses alternatives. We argue that fiscal stabilization...
While market mechanisms and private initiatives can deliver much for development, public action is also necessary to: maximize the economic benefits of the extractive industries; manage potentially large capital and revenues flows; minimize adverse...
Sovereign Wealth Funds (SWFs) have become a symbol of national success and a means for global, commercial and geopolitical influence. But how well do...
This paper argues that in weak states, leaders whose hold on power is secured by the public fortune have turned to the use of sovereign wealth funds (SWFs), especially unofficial SWFs, to cement their hold on power. Unofficial SWFs are private funds...
The central argument of this study is that given the magnitude of the investment in infrastructure that is required, especially in Africa, the role of foreign aid in the future should be distinctly different. While aid will be required to continue to...
It has long been recognized that the creation of an adequate infrastructure is vital for creating sustainable growth and reducing poverty in Africa. However the gap between the investment that is needed and the money currently available is too big to...
A donor dilemma: aid effectiveness in fragile states. Donors are often faced with the dilemma that those countries most in need of aid are often those least likely to spend it effectively. This dilemma can be characterized as an instance of the...
Historically, Chile has been an economy dominated by mineral and agro-industrial products and subject to frequent external shocks particularly in copper prices. Since the 1980s, the authorities have developed various mechanisms to cope with these...
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