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Publications (4)
Working Paper
pdf
– Short- versus long-term considerations
The prescription of optimally managing natural resource revenue windfalls by smoothing consumption across generations using an intergenerational sovereign wealth fund that only invests in foreign assets is not appropriate for resource-rich developing economies. It is better for these economies to...
Working Paper
pdf
– The opportunities and the risks
This paper examines the possible implications for the financial systems of low-income African economies and in particular Tanzania of their stated aspiration to achieve middle-income status. In doing so it finds little evidence that the mere increase of gross domestic product per capita will lead...
Blog
– A reality check
Several countries in Africa – including Ghana, Kenya, Mozambique, Tanzania, and Uganda - have recently discovered large oil and gas or other mineral resources. Other African countries such as Angola, Botswana, and Nigeria have been exploiting very large extractive wealth for many years. Natural...
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