Why is the private sector yet to take off in much sub-Saharan Africa? Drawing on a unique set of enterprise surveys, Vijaya Ramachandran and her co-authors identify the biggest obstacles: inadequate infrastructure (especially unreliable electricity and crumbing roads) and burdensome regulation. They then show how ethnic minorities dominate the private sector in many countries, inhibiting competition and demands for a better business environment, and thus impeding the emergence of an entrepreneurial middle class. Based on this careful diagnosis, the authors suggest investing in infrastructure and reforming regulation to lower the cost of doing business, and increasing the access to education of a broader-based business class that crosses ethnic divides. Book jacket.
This book assesses the full impact of oil windfalls on six developing producer countries - Algeria, Ecuador, Indonesia, Nigeria, Trinidad and Tobago, and Venezuela. This is the first time that the issue has been systematically analysed and related to economics policies and underlying macroeconomic characteristics. The book adopts a broad approach, blending institutional and political aspects with quantitative analysis which includes the results of sophisticated model simulations. It presents new information on how oil discoveries have been used by producer governments, and analyses of the consequences. Finally it concludes that much of the potential benefit to producers has been dissipated, and explains why producers may actually end up worse off despite revenue gains.
This paper studies the optimal public investment decisions in countries experiencing a resource windfall. To do so, we use an augmented version of the Permanent Income framework with public investment faced with adjustment costs capturing the associated administrative capacity as well as government direct transfers. A key assumption is that those adjustment costs rise with the size of the resource windfall. The main results from the analytical model are threefold. First, a larger resource windfall commands a lower level of public capital but a higher level of redistribution through transfers. Second, weaker administrative capacity lowers the increase in optimal public capital following a resource windfall. Third, higher total factor productivity in the non-resource sector reduces the degree of des-investment in public capital commanded by weaker administrative capacity. We further extend our basic model to allow for "investing in investing" - that is public investment in administrative capacity - by endogenizing the adjustment cost in public investment. Results from the numerical simulations suggest, among other things, that a higher initial stock of public administrative "know how" leads to a higher level of optimal public investment following a resource windfall. Implications for policy are discussed.
President George W. Bush maintained in his address of 20 September 2001, that the successful prosecution of the war against terrorism will require the judicious use of 'every resource at our command - every means of diplomacy, every tool of intelligence, every instrument of law enforcement, every financial influence, and every necessary weapon of war'. Unlike the Cold War, the War on Terrorism is neither a battle against some ideology nor bounded by physical boundaries or conventional political units such as nation-states. The War on Terrorism is the internationalisation, or rather, globalisation of previous wars. Terror is not a nation, and the enemies in such wars are not nations; any regime such as Libya simply by repudiating terrorism, can become an ally of the anti-terror coalition. Regimes that continue to practice terrorism against domestic opponents qualify to participate in the wider war if they conform to certain norms in external affairs. The 28 articles reprinted here consider aspects of that most amorphous of animals - the War on Terrorism. They do not set out to provide all of the answers; nor do they radiate a unified vision of what constitutes the war on terrorism; the pieces begin from a range of political and intellectual outlooks. Taken as a group, however, the difficulties of determining the limits and nature of the war on terrorism receive important attention. The authors address several major themes within the war on terrorism: what falls within its perimeters, its shifting manifestations, implications, responses and future directions.
The Council-sponsored Independent Task Force on Emergency Responders met with emergency responder organizations across the country to assess what would be required to achieve a minimum effective response to a catastrophic terrorist attack. Although the Task Force argues that additional funding for emergency responders is urgently needed, the report also stresses the importance of developing national preparedness standards to ensure the most efficient and effective use of limited resources.
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