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This paper analyzes the link between public investment, economic growth and debt sustainability in Sierra Leone using an inter-temporal macroeconomic model. In the model, public capital improves the productive capacity of private capital, generating positive medium and long term effects to increases in public investment. The model application indicates that a large increase in public investment would have positive macroeconomic effects in the medium term. However, since there is no free lunch, rigidities in tax adjustment would entail unrealistic and unachievable adjustment in the current spending to cover recurrent costs and ensure debt sustainability. A more ambitious increase in public investment would entail more fiscal adjustment, particularly if external commercial loans are secured to complement the adjustment. The model simulations also emphasize the importance of improvements in the structural economic conditions to reap growth dividends. In addition, even if the macroeconomic implications of public investment scaling-up can be favorable in the long term under changes in certain structural conditions, downside risks such as terms of trade shifts and Ebola-induced productivity shortfall expose the country to increased risk of unsustainable debt dynamics. This underscores the need to remove bottlenecks to growth and maintain prudent borrowing policies.

Economic development -- Sierra Leone -- Econometric models. --- Economic development -- Sierra Leone. --- Public investments -- Sierra Leone -- Econometric models. --- Structural adjustment (Economic policy) -- Sierra Leone -- Econometric models. --- Exports and Imports --- Macroeconomics --- Public Finance --- Institutions and Growth --- Fiscal Policy --- International Lending and Debt Problems --- National Government Expenditures and Related Policies: Infrastructures --- Other Public Investment and Capital Stock --- Debt --- Debt Management --- Sovereign Debt --- Public finance & taxation --- International economics --- Public investment and public-private partnerships (PPP) --- Public investment spending --- Public debt --- Fiscal consolidation --- Debt sustainability --- Expenditure --- Fiscal policy --- External debt --- Public-private sector cooperation --- Public investments --- Debts, Public --- Debts, External --- Sierra Leone

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To what extent is South Africa affected by G8 economies and BRIC growth shocks? This book identifies channels that amplify these shock effects, the relevance of third country transmission effects and the effects of the first and second rounds of US quantitative easing. The changing reactions of South African variables over time to financial shocks emanating from the US and selected countries in the Euro area, is presented. The book quantifies the effects of capital flow shocks, determines the counterfactuals of asset prices and economic growth variables, and compares the contribution of capital flows and domestic macro factors on asset prices. The effects of the exchange rate depreciation are contrasted to the decline in investment as key drivers of the trade balance. Stock market interdependence is determined amongst South African, Indian and Brazilian equities. The contributions of stock price returns and volatility on South African economic growth are contrasted. The authors construct a financial stress index for South Africa and determine how it amplifies shocks.

Economic development --- Finance --- Financial crises --- Economic History --- Business & Economics --- South Africa --- Foreign economic relations. --- Crashes, Financial --- Crises, Financial --- Financial crashes --- Financial panics --- Panics (Finance) --- Stock exchange crashes --- Stock market panics --- Crises --- Macroeconomics. --- International economics. --- Knowledge management. --- Investment banking. --- Securities. --- Macroeconomics/Monetary Economics//Financial Economics. --- International Economics. --- Knowledge Management. --- Investments and Securities. --- Blue sky laws --- Capitalization (Finance) --- Investment securities --- Portfolio --- Scrip --- Securities --- Securities law --- Underwriting --- Investments --- Investment banking --- Banks and banking, Investment --- Investment banks --- Financial institutions --- Management of knowledge assets --- Management --- Information technology --- Intellectual capital --- Organizational learning --- Economic policy, Foreign --- Economic relations, Foreign --- Economics, International --- Foreign economic policy --- Foreign economic relations --- Interdependence of nations --- International economic policy --- International economics --- New international economic order --- Economic policy --- International relations --- Economic sanctions --- Economics --- Law and legislation

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This book reviews the current trends and challenges of regional integration and trade in Africa. It provides valuable policy recommendations aimed at stimulating the debate among the government, private sector and development community on the ways to promote regional trade for Africa's economic development.

BUSINESS & ECONOMICS / Development / Economic Development --- BUSINESS & ECONOMICS / Economics / General --- Africa --- Africa --- Africa --- Africa --- Economic integration. --- Foreign economic relations. --- Commercial policy. --- Commerce.