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1. The Linkage between Foreign Direct Investment and Intra-Regional Trade within ECOWAS

Author:
Eme Dada
Publication Date:
08-2019
Content Type:
Policy Brief
Institution:
African Economic Research Consortium (AERC)
Abstract:
The objective of this policy brief is to inform the Ministers of Trade and Investment of Economic Community of West African State (ECOWAS) countries about the importance of the linkage between Foreign Direct Investment (FDI) and trade for developing countries. FDI is considered an important means of promoting export of the host countries. This is true of inward FDI, which comes for efficiency reasons. Conversely, there is concern that large flows of outward FDI results in a decline in the host country’s exports and loss of jobs. This in turn assumes that the exports of the source country will fall as FDI substitutes for trade.
Topic:
Development, Economics, International Trade and Finance, Foreign Direct Investment, and Economic growth
Political Geography:
Africa, Liberia, Sierra Leone, Senegal, Mali, Guinea, Guinea-Bissau, Cape Verde, and Gambia

2. Impacts of legal and regulatory institutions on economic development

Author:
Pedro Naso
Publication Date:
12-2019
Content Type:
Research Paper
Institution:
Centre for International Environmental Studies, The Graduate Institute (IHEID)
Abstract:
Since the second half of the 20th century, with the contributions of Coase, Williamson and North, the economic literature has emphasised the role of institutions in explaining differences in economic performance. According to the most diffused view, countries with good institutions will invest more in physical and human capital, will use productive factors in a more efficient way, and will achieve greater income level. But what are good institutions? And how should governments implement them? Answers to these questions have proven to be difficult mainly because of two characteristics of institutions: (i) institutional functioning is complex: the way institutions affect economic agents’ incentives is dependent on these agents’ individual preferences and the way they interact, which are difficult to predict; and (ii) they are context specific – the same institution in different contexts might result in a different economic outcome.
Topic:
Climate Change, Economics, Environment, Regulation, and Economic Policy
Political Geography:
Africa, South Africa, and Sierra Leone

3. Exchange Rate, Petroleum Price and Price Determination in Sierra Leone

Author:
B.I.B. Kargbo
Publication Date:
01-2018
Content Type:
Working Paper
Institution:
African Economic Research Consortium (AERC)
Abstract:
The Sierra Leone economy is a net importer with a chronic negative balance of trade. Imports as a percentage of GDP averaged 40.8% between 2001 and 2010. Imports of food, mineral fuels and lubricants accounted for 50.8% of the total value of imports within the same period. Also, the value of the leone depreciated from Le 920.75 in 1996 to Le 4,000 in 2010 while inflation averaged 12.6% for the same period. As a result of the interplay of these forces, fuel prices are most times adjusted upwards to compensate for the depreciation of the leone against the dollar or to match up with increases in the world price of crude oil. This study determines the effects of monetary environment as well as exchange rate movement and petroleum prices on domestic prices in Sierra Leone by estimating a hybrid model of inflation in which inflation responds to its own lags, lags of other variables, and a set of error-correction terms that represent short run disequilibria from the money market, external sector and output that feed into the inflation process.The empirical results from the parsimonious model show that petroleum product prices and exchange rate, as well as monetary factors determine inflation in Sierra Leone.What is also significant from the findings is that the contribution of petroleum prices to domestic price formation is unfounded in the long run, meaning that it is only a short-run phenomenon. The results also support the view that a fair portion of fluctuations in domestic prices is driven by its own shocks.
Topic:
Development, Economics, International Trade and Finance, Monetary Policy, Economic growth, and Inflation
Political Geography:
Africa and Sierra Leone

4. And Africa Will Shine Forth: A Statesman's Memoir

Author:
Jean Ping
Publication Date:
08-2012
Content Type:
Book
Institution:
International Peace Institute
Abstract:
Everyone knows that Africa, cradle of humanity, land of the Pharaohs and human civilization, and vast reservoir of human and natural resources, is not doing well. She crosses the deepest crisis that has shaken her since the end of colonial times. The specter of chaos lurks everywhere. She is now seen as the continent of “collapsing states” and “zombie nations”; the continent of extreme poverty, misery, and injustice; the continent of horrors, of the Rwandan genocide and of the worst atrocities committed in Liberia, Sierra Leone, Kenya, Darfur and elsewhere. This brutal reality has been, for quite some time now, analyzed by most observers and experts with certain fatalism, as testified by these book titles with pessimistic or even alarmist tones: “Black Africa Started on the Wrong Foot” (René Dumont), “Can Black Africa Take Off?” (Albert Meister); “And What If Africa Refused Development” (Axelle Kabou); “Africa Down” (Jacques Giri). By now, it is just a chorus of permanent lamentations about the “lost continent,” the “damned continent,” or the “cursed continent” whose past is not passing. And the rest of the world, which sees us as negligible, even contemptible (“all corrupt and all dictators,” they say), consider that henceforth, they no longer need us.
Topic:
Conflict Resolution, Security, Economics, Post Colonialism, Natural Resources, Fragile/Failed State, and Neoimperialism
Political Geography:
Kenya, Africa, Darfur, Liberia, and Sierra Leone

5. Explaining the Health Status of Children in Sierra Leone: Parental Socioeconomic Status and Demand for Health Inputs

Author:
Mohamed Jalloh and Santigie Mohamed Kargbo
Publication Date:
11-2012
Content Type:
Policy Brief
Institution:
African Economic Research Consortium (AERC)
Abstract:
In most developing countries, maternal and child health issues have received considerable attention in public health policies and pose formidable challenges. Several studies provide evidence of a strong relationship between socioeconomic factors such as economic growth, poverty, water and sanitation, education and gender and health outcomes. A good number of researchers have shown that a mother’s use of child health care is influenced by the risk of child mortality. It is thus been emphasized in the literature that the decision to obtain health inputs is confronted with the potential issue of self-selection and hence endogeneity.
Topic:
Economics, Health, Health Care Policy, Children, Child Poverty, Domestic politics, and Mortality
Political Geography:
Africa and Sierra Leone

6. Post-Conflict Recovery: Does the Global Economy Work for Peace?

Author:
Tony Addison
Publication Date:
06-2005
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
Countries as diverse as Afghanistan, Angola, and Sierra Leone are now attempting to recover from major wars, often amidst continuing insecurity. The challenge is to achieve a broad-based recovery that benefits the majority of people. The economic and social recovery of conflict-affected countries cannot be separated from their interaction with the rest of the world through flows of finance, goods, and people. Unfortunately, the global economy is not working well for peace. Trade reform, in particular, must take account of the need to create better, and non-violent, livelihoods for the world's poor: rich-country protectionism in agriculture hinders broad-based recovery and thereby harms the new international security agenda. Post-conflict economies also need more external finance to support early institutional development and reform, thereby increasing the effectiveness of longer-term aid inflows.
Topic:
Conflict Resolution, Economics, and Globalization
Political Geography:
Afghanistan, Middle East, Sierra Leone, and Angola

7. Does Lootable Wealth Breed Disorder? A Political Economy of Extraction Framework

Author:
Richard Snyder
Publication Date:
07-2004
Content Type:
Working Paper
Institution:
Kellogg Institute for International Studies
Abstract:
This article proposes a political economy of extraction framework that accounts for political order and state collapse as alternative outcomes in the face of lootable wealth. Different types of institutions of extraction can be built around lootable resources—with divergent effects on political stability. If rulers are able to forge institutions of extraction that give them control over the revenues generated by lootable resources, then these resources can contribute to the maintenance of political order by providing the income with which to govern. In contrast, the breakdown or absence of such institutions increases the risk of civil war by making it easier for rebels to get income. The framework is used to explain two puzzling cases that experienced sharply contrasting political trajectories in the face of lootable resources: Sierra Leone and Burma. A focus on institutions of extraction provides a stronger understanding of the wide range of political possibilities—from chaos, through dictatorship, to democracy—in resource-rich countries.
Topic:
Economics, International Trade and Finance, and Political Economy
Political Geography:
Burma and Sierra Leone