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1. Employing Capital: Patient Capital and Labour Relations in Kenya’s Manufacturing Sector

Author:
Florence Dafe, Radha Upadhyaya, and Christoph Sommer
Publication Date:
01-2021
Content Type:
Working Paper
Institution:
German Institute of Development and Sustainability (IDOS)
Abstract:
Generating decent employment is key to the creation of a new social contract and social cohesion in Sub-Saharan Africa. The crucial question is, thus, how can more decent jobs be created? Much of the extant research has focused on the role of states and businesses in shaping employment relations. In this paper, we draw attention to a third type of actor that has been largely absent in the literature on the determinants of employment relations in developing countries: financial institutions. Based on data from 38 interviews of Kenyan manufacturing firms, financiers and labour representatives before and during the COVID-19 pandemic, we examine the relationship between the patience of capital and labour relations. In particular, the evidence presented in this paper suggests that access to more patient sources of capital may help to enhance the quantity and quality of jobs in African countries. We discuss three mechanisms through which this occurs. Our paper contributes to the growing body of research on patient capital (which largely focuses on developed countries) by extending it to the context of lower income African countries; it also speaks to the broader debates about how to enhance the contribution of finance capital to social cohesion.
Topic:
Development, Labor Issues, Manufacturing, Social Cohesion, COVID-19, and Capital
Political Geography:
Kenya and Africa

2. Africa and the Middle East: Beyond the Divides

Author:
Hisham Aïdi, Marc Lynch, Zachariah Mampilly, Nisrin El-Amin, Jean-Baptiste Gallopin, Noah Salomon, Samar Al-Bulushi, Wolfram Lacher, Federico Donelli, Lina Benabdallah, Ezgi Guner, Afifa Ltifi, Zekeria Ould Ahmed Salem, Alex Thurston, and Alex de Waal
Publication Date:
06-2020
Content Type:
Research Paper
Institution:
Project on Middle East Political Science (POMEPS)
Abstract:
The papers, published in this collection, ranged widely over issues connecting West Africa, the Horn, the Sahel and North Africa thematically, politically, militarily and culturally. The goal of this volume is to get American political science to break down the barriers between academic subfields defined by regions and open the fields to new questions raised by scholars from and across Africa and the Middle East.
Topic:
Islam, War, Regime Change, Media, Conflict, Political Science, Revolution, and Capital
Political Geography:
Africa, China, Sudan, Turkey, Middle East, Libya, Saudi Arabia, North Africa, West Africa, Tunisia, United Arab Emirates, East Africa, Sahel, and Horn of Africa

3. Financing Public Private Partnerships (PPPs) in Botswana Through The Capital Market

Author:
Kelesego Mmolainyane
Publication Date:
03-2020
Content Type:
Working Paper
Institution:
Botswana Institute for Development Policy Analysis
Abstract:
In her quest to further graduate to the high-income status, Botswana seeks to invest more in infrastructure development for both productive and social use. An efficient and effective infrastructure provision is fundamental to excellent public service delivery and access. Sadly, Botswana, like many other world economies, has a challenge of having an infrastructure financing gap. One of the innovative ways to fill this gap is through public private partnerships (PPPs) with the capital market that has excess liquidity. Infrastructure PPPs are complex and capital intensive projects that require project finance experts to advise parties involved regarding returns and risks associated with each project. Various project-financing models can be designed to suit project specifications and they cannot be over-generalised for all PPP projects. Nevertheless, given the tight fiscal space, Botswana now, more than ever, should consider issuing PPP bonds and applying user changes model to finance economic PPP infrastructure for sustainable and inclusive economic growth.
Topic:
Markets, Infrastructure, Finance, Capital, and Public-Private Partnership
Political Geography:
Africa and Botswana

4. The Political Economy of Exchange Rate Policy and Capital Control in Nigeria

Author:
Nathaniel E. Urama and Emeka Charles Iloh
Publication Date:
09-2018
Content Type:
Working Paper
Institution:
African Heritage Institution (AfriHeritage)
Abstract:
This paper examines the primary cause of the exchange rate management failure in Nigeria by evaluating the motivating factor for these changes and reviewing the role of politics and interest group in the Nigerian exchange rate management. The findings show that politics, institutional incentives, and group interest mostly play a significant role in Nigeria’s exchange rate regime determination, as evidenced in the habit of changing the exchange rate system by almost all the political regimes that have existed in the country. More so, the changes are attributed to factors such as different parties and regimes having different macroeconomic preferences, incumbents’ efforts to increase their re-election prospects, and by interest groups that lobby for strong or weak currencies.
Topic:
Foreign Exchange, Political Economy, Exchange Rate Policy, Economic Policy, and Capital
Political Geography:
Africa and Nigeria

5. Growth Dynamics in South Africa: Key Macroeconomic Drivers and Policy Challenges

Author:
Themba Chirwa and Nicholas M. Odhiambo
Publication Date:
07-2015
Content Type:
Journal Article
Journal:
The Rest: Journal of Politics and Development
Institution:
Centre for Strategic Research and Analysis (CESRAN)
Abstract:
In this paper we examine which key factors at the macroeconomic level are associated with the economic growth performance of the South African economy. These drivers have been identified by assessing the economic events that occurred during the period 1960-2013. During this period, the South African economy went through two economic and political systems: an apartheid system that covered the period 1948-1993; and a democratic system from 1994 to date. Regardless of the economic system implemented, we find the accumulation of physical capital, human capital development, international trade, real exchange rate growth, and inflation as the most significant macroeconomic drivers of economic growth in South Africa. We also find that the weak performance of the South African economy in recent years has been grossly affected by declining trends in the accumulation of capital stock, low quantities and quality of human capital, worsening balance of payments position, and real exchange rate instability.
Topic:
Development, Economic Growth, Macroeconomics, and Capital
Political Geography:
Africa and South Africa