Investment and Risk in Africa
Published on 27. July 2016
IX, 388 pages
978-1-349-15068-7 (ISBN)
Description
This book brings together academics in the fields of economics, political science, and law, with business practitioners in the fields of risk assessment and portfolio management. Their contributions are sequenced to tell a story. Africa is perceived as being a highly risky continent. As a result, investment is discouraged. These risks are partly exaggerated. However, to the extent that they reflect genuine problems, they are capable of being mitigated by insurance and reduced by political restraints such as central banks, investment charters, and international agreements.
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Paul Collier | Catherine Pattillo
Investment and Risk in Africa
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01/2000
Palgrave Macmillan
€86.66
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Persons
CHRISTOPHER ADAM Lecturer, Oxford University
DAVID AILOLA Associate Professor of Political Science, University of Michigan
ANTONY AYLWARD Economist, International Finance Corporation
DAVID BEVAN Lecturer, Oxford University
JOE DEMBY Regent Fund Management, London
CLAUDE ERB First Chicago NBD Investment Management Company
KAREN FERREE Doctoral Student, Harvard University
JAN WILLEM GUNNEN Director, Centre for the Study of African Economies
NADEEM UL HAQUE Adviser, Research Department, International Monetary Fund
CAMPBELL HARVEY Professor, Duke University
AFIKAR HUSSAIN Economist, Research Department, Bank of Uganda
FREDERICK JASPERSEN Economist, International Finance Corporation
RAVI KANBUR Lee Professor of Development, Cornell University
LOUIS KASAKENDE Executive Director, Research Department, Bank of Uganda
DAVID KNOX former Vice President of the World Bank
MALCOLM MACPHERSON Fellow, Harvard Institute for International Development
NELSON MARK Professor of Economics, Ohio State University
DONALD MATHIESON Division Chief, Research Department, International Monetary Fund
STEPHEN O'CONNELL Professor of Economics, Swarthmore College
LEMMA SENBET William E. Meyer Professor of Finance, University of Maryland
SMITA SINGH Doctoral Student, Harvard University
DAVID STASAVAGE Research Officer, Centre for the Study of African Economies, Oxford University
TADAS VISKANTA First Chicago Bank NBD Investment Management Company
MARK WARNER Assistant Director, Center forInternational and Comparative Law, University of Baltimore School of Law
GERALD WEST Multilateral Investment Guarantee Corporation
JENNIFER WIDNER Associate Professor of Political Science, University of Michigan
Content
Preface Notes on the Contributors PART I: INTRODUCTION Investment and Risk in Africa; P.Collier & C.Pattillo PART II: RISK IN AFRICA: ITS CAUSES AND ITS EFFECTS ON INVESTMENT Rating Africa: The Economic and Political Content of Risk Indicators; N.U. Haque, N. Mark & D.J.Mathieson Risk and Private Investment: Africa Compared with Other Developing Areas; F.Z.Jaspersen, A.H.Aylward & A.D.Knox Risk, Financial Constraints and Equipment Investment in Ghana: A Firm-Level Analysis; C.Pattillo Discussion; J.W.Gunning The Risk and Expected Returns of African Equity Investment; C.B.Erb, C.R.Harvey & T.E.Viskanta Discussion; L.W.Senbet Risk and Portfolio Investment in Africa: A Practitioner's Approach; J.Demby PART III: REDUCING RISK THROUGH DOMESTIC AGENCIES OF RESTRAINT The Central Bank as a Restraint: The Experience of Uganda; L.Kasekende & I.Hussain Discussion; S.A.O'Connell The Cash Budget as a Restraint: The Experience of Zambia; C.S.Adam & D.L.Bevan Discussion; M.McPherson The Courts as a Restraint: The Experience of Tanzania, Uganda and Botswana; J.A.Widner Discussion; K.E.Ferree Investment Codes as a Restraint: The Experience of Southern Africa; D.A.Ailola PART IV: REDUCING RISK THROUGH EXTERNAL AGENCIES OF RESTRAINT The Franc Zone as a Restraint; D.Stasavage Discussion; S.Singh Aid and Debt Conditionality as Restraints; R.Kanbur Discussion; S.A.O'Connell Investment Insurance in Africa; G.T.West The Potential for Restraint through International Trade Agreements; P.Collier & J.W.Gunning The Potential for Restraint Through an International Charter for FDI; M.Warner PART V: CONCLUSION So What Have We Learned?; R.Bates Index
