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"La crise financiere de 2008 des prêts hypothecaires à haut risque (subprimes) semble avoir eu pour effet de generer un sursaut d'interêt des etudiants pour les programmes d'enseignement centres sur la responsabilite sociale des entreprises. Ainsi, on ne peut que s'etonner du paradoxe consistant à reproduire, dans l'enseignement, les principes de domination du leadership machiavelique, axes sur les caracteristiques individuelles du gestionnaire, alors que nous observons une importante demande de formation pour un management ethique, valorisant la qualite des relations entre les leaders et les membres de leur equipe. Il est donc urgent de repenser la maniere d'envisager notre modele de leadership. Tel est le but de cet essai"--The publisher.
Leadership. --- Machiavelli, Niccolò, --- Principe (Machiavelli, Niccolò)
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This paper discusses a request from the Democratic Republic of São Tomé and Príncipe for a three-year arrangement under the Poverty Reduction and Growth Facility (PRGF). The economic outlook for 2009 is broadly favorable, but subject to significant risks. The program spans a period including major elections; the authorities’ ability to meet fiscal objectives and implement monetary policy will be key to the success of the program. IMF staff recommends approval of the new PRGF arrangement based on the country’s policy commitments.
Economic assistance -- Sao Tome and Principe. --- Finance, Public -- Sao Tome and Principe. --- Sao Tome and Principe -- Economic conditions. --- Sao Tome and Principe -- Economic policy. --- Banks and Banking --- Exports and Imports --- Macroeconomics --- Public Finance --- Statistics --- Debt --- Debt Management --- Sovereign Debt --- International Lending and Debt Problems --- General Aggregative Models: General --- Fiscal Policy --- Data Collection and Data Estimation Methodology --- Computer Programs: Other --- International economics --- Public finance & taxation --- Econometrics & economic statistics --- Banking --- Finance --- National accounts --- Public debt --- Fiscal stance --- External debt --- Oil exports --- Fiscal policy --- International trade --- Debts, External --- National income --- Debts, Public --- Petroleum industry and trade --- São Tomé and Príncipe, Democratic Republic of --- Economic assistance --- Finance, Public --- Sao Tome and Principe --- Economic conditions. --- Economic policy.
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São Tomé and Principe’s economy is heavily dependent on the international economy. The study assessed the country's macroeconomic, structural, and social policies in support of growth and poverty reduction. The implementation of the National poverty reduction strategy (NPRS) through People's Action Party (PAP) made some progress with the help of reforms implemented through government incentives. PAP envisages political measures, legislative and regulatory actions, restructuring and reorganization of government agencies, and Public Investment Program (PIP) for the different pillars of the NPRS. The study assessed that successful implementation of NPRS requires stability, real ownership of NPRS, and consistency between PIP and PAP.
Poverty -- Sao Tome and Principe. --- Sao Tome and Principe -- Economic conditions. --- Sao Tome and Principe -- Economic policy. --- Social Services and Welfare --- Demography --- Education: General --- Health: General --- Government Policy --- Provision and Effects of Welfare Program --- Demographic Economics: General --- Education --- Health economics --- Social welfare & social services --- Population & demography --- Health --- Poverty reduction strategy --- Poverty reduction --- Population and demographics --- Poverty --- Population --- Taiwan Province of China --- Sao Tome and Principe --- Economic conditions. --- Economic policy.
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São Tomé and Príncipe is very open and highly depends on imports resulting in high indirect tax revenue. At the same time, the production and export base are very narrow, leaving the authorities with a small domestic tax base. For these reasons, the country compares unfavorably with neighboring economies and other island countries, in terms of domestic revenue in percent of GDP. The paper describes the domestic tax system in São Tomé and Príncipe and uses cross-country empirical analysis to reach a benchmark tax potential for the country. The paper reaches the conclusion that whether São Tomé and Príncipe becomes an oil producer or not, it is more sustainable for it to rely on non-oil domestic revenue-a less volatile and less exhaustible resource-to finance current expenditures. To meet the country's increasing development and social objectives, the authorities need to mobilize sufficient domestic resources. The paper offers a number of fiscal reforms to reach this goal, including implementation of the new tax laws, reduction of exemptions, tax system reforms, and improvement of the tax administration.
Economic assistance, American -- Sao Tome and Principe. --- Fiscal policy -- Sao Tome and Principe. --- Sao Tome and Principe. --- Investments: Energy --- Public Finance --- Taxation --- Taxation, Subsidies, and Revenue: General --- Business Taxes and Subsidies --- Energy: General --- Public finance & taxation --- Excise taxes --- Investment & securities --- Revenue administration --- Tax administration core functions --- Excises --- Consumption taxes --- Oil --- Revenue --- Tax administration and procedure --- Excise tax --- Spendings tax --- Petroleum industry and trade --- São Tomé and Príncipe, Democratic Republic of
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This paper assesses São Tomé and Príncipe's monetary and exchange rate arrangements in light of the country's monetary history and the relevant experience of comparable countries in Africa. The study highlights several structural characteristics of São Tomé and Príncipe including its very small size, high degree of openness, extensive use of foreign currencies, and inflexible product and factor markets in the consideration of an appropriate monetary and exchange regime. Firmly anchored currency arrangements, defined in this paper to include memberships in monetary unions or hard pegs, are found to be preferable to the status quo of a managed float. The paper applies statistical methods and takes into account other factors to identify the appropriate anchor currency. It stresses that fiscal discipline and prudent debt management are the main prerequisites for a firmly anchored currency arrangement.
Sao Tome and Principe --- Democratic Republic of Sao Tome and Principe --- Province de Saint-Thomas-et-Prince (Portugal) --- Província de São Tomé e Príncipe (Portugal) --- República Democrática de São Tomé e Príncipe --- République démocratique de Sao Tomé-et-Principe --- S. Tomé e Príncipe --- Saint-Thomas-et-Prince --- San Tome i Prinsipi --- São Thomé e Príncipe --- São Tomé e Príncipe --- Sao Tomé-et-Principe --- São Tomé ja Príncipe --- São Tomé och Príncipe --- São Tomé-Príncipe --- Сан-Томе и Принсипи --- Santo Tomé y Principe --- Economic conditions. --- Exports and Imports --- Foreign Exchange --- Money and Monetary Policy --- Monetary Systems --- Standards --- Regimes --- Government and the Monetary System --- Payment Systems --- Financial Aspects of Economic Integration --- Currency --- Foreign exchange --- Monetary economics --- International economics --- Currencies --- Monetary unions --- Exchange rate arrangements --- Exchange rates --- Conventional peg --- Money --- São Tomé and Príncipe, Democratic Republic of
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This book critically reevaluates the political thought of Niccolò Machiavelli, demonstrating the extent to which he can be seen to formulate a unique ethical foundation for democratic practice that is grounded in the creative orientation of all individuals.
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Economic activity continues to be robust in 2007, driven by foreign investment in tourism-related construction and services. The central bank (BCSTP) strengthened its efforts to control liquidity growth. Progress on structural reforms has been mixed. The authorities intend to accelerate public financial management reform. The authorities and IMF staff shared the view that the country’s fiscal and external financing strategies need to adjust to the uncertain oil revenue prospects. The BCSTP is committed to deepening foreign exchange market reform.
Fiscal policy -- Sao Tome and Principe. --- Foreign exchange rates -- Sao Tome and Principe. --- International monetary fund -- Sao Tome and Principe. --- Monetary policy -- Sao Tome and Principe. --- Investments: Energy --- Financial Risk Management --- Macroeconomics --- Public Finance --- Statistics --- Energy: General --- Debt --- Debt Management --- Sovereign Debt --- General Aggregative Models: General --- Data Collection and Data Estimation Methodology --- Computer Programs: Other --- Nonwage Labor Costs and Benefits --- Private Pensions --- National Government Expenditures and Related Policies: General --- Investment & securities --- Finance --- Econometrics & economic statistics --- Public finance & taxation --- Labour --- income economics --- Oil --- National accounts --- Debt relief --- Bonuses --- Banking --- Commodities --- Public financial management (PFM) --- Monetary statistics --- Economic and financial statistics --- Asset and liability management --- Debts, External --- Petroleum industry and trade --- National income --- Employee fringe benefits --- Banks and banking --- Finance, Public --- Economic indicators --- São Tomé and Príncipe, Democratic Republic of --- Fiscal policy --- Foreign exchange rates --- Monetary policy --- Income economics
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This paper documents the protracted process of shaping the rules governing oil operations in São Tomé and Príncipe. It analyzes the institutional framework for oil sector development, which applies Milton Friedman's permanent income hypothesis to the management of oil resources. São Tomé and Príncipe is the first country in Africa to adopt this rule. Finally, the paper offers a preliminary quantitative analysis of the impact of oil sector development on government consumption and savings. It shows that the country's oil wealth could be significant, which would enable sustainable government consumption and intergenerational equity through a gradual buildup of the Permanent Fund for Future Generations.
Consumption (Economics) -- Sao Tome and Principe. --- Electronic books. -- local. --- Income -- Sao Tome and Principe. --- Business & Economics --- Economic History --- Income --- Consumption (Economics) --- Consumer demand --- Consumer spending --- Consumerism --- Spending, Consumer --- Family income --- Fortunes --- Household income --- Personal income --- Demand (Economic theory) --- Economics --- Finance --- Property --- Wealth --- Gross national product --- Profit --- Purchasing power --- Investments: Energy --- Macroeconomics --- Taxation --- Industries: Energy --- Energy: General --- Business Taxes and Subsidies --- Macroeconomics: Production --- Energy: Demand and Supply --- Prices --- Macroeconomics: Consumption --- Saving --- Investment & securities --- Public finance & taxation --- Petroleum, oil & gas industries --- Oil --- Oil, gas and mining taxes --- Oil production --- Oil prices --- Government consumption --- Petroleum industry and trade --- Consumption --- São Tomé and Príncipe, Democratic Republic of
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This paper attempts to offer specific inputs to the debate on local content promotion in the oil industry, using the specific case of São Tomé and Príncipe as point of reference. Our approach emphasizes inter-sectoral linkages and institutional pre-conditions for local content promotion. Based on an Input-Output description of the economy, we quantify the consistency between the prospective oil sector development and the growth of other sectors of the economy. We also assess a number of sectoral policies and "niche" activities within the oil industry that would maximize the local benefits from oil exploration.
Investments: Energy --- Exports and Imports --- Agribusiness --- Industries: Energy --- Nonrenewable Resources and Conservation: General --- Energy: General --- Macroeconomics: Production --- Trade: General --- Agriculture: General --- Petroleum, oil & gas industries --- Investment & securities --- International economics --- Agricultural economics --- Oil sector --- Oil --- Oil production --- Oil exports --- Agricultural sector --- Petroleum industry and trade --- Exports --- Agricultural industries --- São Tomé and Príncipe, Democratic Republic of --- Input-output tables --- Sao Tome and Principe --- Economic conditions. --- Economic policy.
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This paper examines the consideration of the Democratic Republic of São Tomé and Príncipe’s debt relief at the completion point under the enhanced Initiative for Heavily Indebted Poor Countries and Debt Relief under the Multilateral Debt Relief Initiative. Lower-than-projected export receipts largely owing to drought conditions and lower-than-expected tourism receipts, changes in cross-currency exchange rates, and variations in discount rates have been all unambiguously exogenous and outside the control of the authorities. There is need for continued fiscal prudence, policies to support broad-based growth and export diversification, continued donor support, and prudent debt management.
Investments: Energy --- Exports and Imports --- Financial Risk Management --- Industries: Energy --- International Lending and Debt Problems --- Debt --- Debt Management --- Sovereign Debt --- Energy: General --- Macroeconomics: Production --- International economics --- Finance --- Investment & securities --- Petroleum, oil & gas industries --- Debt relief --- Debt service --- Public and publicly-guaranteed external debt --- Oil --- Oil production --- Asset and liability management --- External debt --- Commodities --- Production --- Debts, External --- Petroleum industry and trade --- São Tomé and Príncipe, Democratic Republic of --- Poverty --- Sao Tome and Principe --- Economic conditions.
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