Suchergebnisse

This study assesses the fiscal and monetary management challenges that can be associated with large inflows of foreign aid. It provides a brief overview of the literature on Dutch Disease (DD) as applied to mineral wealth and then assesses the conventional policy responses that are available to mitigate the main problems that can be caused by DD. This discussion incorporates an identification of the additional issues and transmission mechanisms that arise when the source of DD is a surge in foreign aid. This analysis is designed to illuminate the circumstances in which an aid-induced DD effect is likely to call for countervailing macroeconomic policy interventions, and when other approaches may be more appropriate. The study concludes with an empirical assessment of the relative importance of mineral-based and aid-based DD problems in low- and middle-income economies. It suggests - contrary to the mainstream literature - that foreign aid and mineral exports typically create joint macroeconomic management problems for such countries.

The company as a form of economic organisation is an essentially capitalist invention, and the privilege of limited liability which it confers is specifically designed to protect private investment and to ensure that such investment is kept at a reasonable level despite the vagaries of the capitalist environment. It is therefore topical and relevant to study the future of the company in an African context in which a more socialist approach to development is being increasingly advocated. This article attempts to examine the position in Tanzania—politically the most avant-garde of the new anglophone states of Africa—several months after government action which severely down-graded the significance of her private sector.1

This paper discusses the channels of impact of an extractives activity on an economy by presenting a brief description supported by graphics of the different routes through which the direct economic and social impacts of these activities might be enhanced. These routes include those that often have the highest political profile, namely spending of government revenues. But the paper also discusses other routes and channels that arguably are far more important, such as the direct effects of corporate spend in local supply chains; the immediate 'multiplier' effects of these; the further multipliers that follows from significant wage growth in these supply chains as well as in the main extractive activity; the new downstream activities that may be built on the primary extractive activity; and the externalities that can accrue from the direct boost to skills training that a large extractive investment is likely to provide.