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Diamond Smuggling and Taxation in Sub-Saharan Africa
This paper provides an overview of diamond mining in sub-Saharan African countries, and explores the reasons for substantial differences in their tax rates and fiscal revenues from the sector, which mainly arise from differences in the incentives for smuggling. In a theoretical model, we show that optimal diamond tax rates increase with the degree of competition among diamond buyers, as well as with the corporate share of diamond production, which is confirmed by the data. We then discuss policies to increase revenue, including by enhancing mining productivity, stimulating the exploration of new areas, reducing barriers to entry, and attracting investment into value-adding downstream operations.
Investment Implications of Selected WTO Agreements and the Proposed Multilateral Agreementon Investment
The substantial increase in foreign direct investment (FDI) in recent years has triggered a discussion of a uniform treatment of investment in international law. Most contributions to the multilateral investment framework derive from the World Trade Organization (WTO) agreements on trade liberalization. The resulting framework is incomplete, as the WTO agreements restrict their focus on investment to aspects related to international trade and often apply to selected sectors only. A broader investment regime is needed to provide a more neutral incentive framework for investment liberalization and to promote efficient international investment flows.
Zimbabwe
This study examines the appropriateness of alternative intermediate monetary policy targets for Zimbabwe in light of the stability of the demand for money and the information content of financial variables for predicting price level movements. Results of the study indicate that a well-defined long-run demand relation exists for currency in circulation, but not for other monetary aggregates. Currency in circulation has strong information content for predicting future price level movements. The information content of other financial variables, such as the exchange rate and interest rates, is weaker. Statistical relationships break down of the outset of high inflation.
Potential Output and total Factor Productivity Growth in Post-Apartheid South Africa
This paper provides estimates of potential output growth in post-apartheid South Africa using both time trend techniques and a production function approach which indicates a potential growth rate of around 3 percent. The implied output gap provides statistically significant information for predicting inflation and could thus provide valuable input for formulating macroeconomic policy. Growth accounting and regression analysis suggest that an increase in trend GDP growth after the end of apartheid in 1994 is attributable to higher TFP growth driven by trade liberalization and greater private sector participation.
Post-Apartheid South Africa
This book provides a comprehensive review of recent economic developments in South Africa and the structural and policy challenges facing the authorities. Individual papers examine a range of topics such as unemployment and the labor market, recent trends in the private saving rate, the role of foreign direct investment in the development of South Africa’s economy, the human and economic repercussions of the HIV/AIDS epidemic, the role of fiscal policy in economic stabilization, inflation developments, liberalization of trade and capital transactions, exchange rate developments, and lessons from the rand crises of 1998 and 2001.
The Macroeconomics of HIV/AIDS
This paper analyzes the macroeconomics of HIV/AIDS. The paper highlights that the mortality and morbidity associated with AIDS make it unlike most other types of sickness and disease. The paper describes the most common approaches used in accounting for growth in the context of an HIV/AIDS epidemic. The impact of HIV/AIDS on education and the accumulation of human capital is discussed. The paper also discusses the impact of HIV/AIDS on the public sector, and elaborates certain demographic events specific to the HIV/AIDS pandemic.
The Perfect Slime
The Perfect Slime presents the latest state of knowledge and all aspects of the Extracellular Polymeric Substances, (EPS) matrix – from the ecological and health to the antifouling perspectives. The book brings together all the current material in order to expand our understanding of the functions, properties and characteristics of the matrix as well as the possibilities to strengthen or weaken it. The EPS matrix represents the immediate environment in which biofilm organisms live. From their point of view, this matrix has paramount advantages. It allows them to stay together for extended periods and form synergistic microconsortia, it retains extracellular enzymes and turns the matrix int...
Making the Law Explicit
This book considers Robert Brandom's philosophy and presents an original and exciting analysis of the semantic argument in legal argumentation.
Church of Spies
The heart-pounding history of how Pope Pius XII -- often labeled "Hitler's Pope" -- was in fact an anti-Nazi spymaster, plotting against the Third Reich during World War II. The Vatican's silence in the face of Nazi atrocities remains one of the great controversies of our time. History has accused wartime pontiff Pius the Twelfth of complicity in the Holocaust and dubbed him "Hitler's Pope." But a key part of the story has remained untold. Pope Pius in fact ran the world's largest church, smallest state, and oldest spy service. Saintly but secretive, he sent birthday cards to Hitler -- while secretly plotting to kill him. He skimmed from church charities to pay covert couriers, and surreptitiously tape-recorded his meetings with top Nazis. Under his leadership the Vatican spy ring actively plotted against the Third Reich. Told with heart-pounding suspense and drawing on secret transcripts and unsealed files by an acclaimed author, Church of Spies throws open the Vatican's doors to reveal some of the most astonishing events in the history of the papacy. Riebling reveals here how the world's greatest moral institution met the greatest moral crisis in history.
Implementing AML/CFT Measures in the Precious Minerals Sector
The trade in precious metals and stones has been linked to illicit financial flows, corruption, smuggling, drug trafficking, illicit arms trafficking, and the financing of terrorism. In addition, the extraction of precious minerals and the subsequent trade in these resources, if properly managed, present significant revenue opportunities, particularly for countries facing development needs. Building on staff expertise in anti-money laundering and combating the financing of terrorism (AML/CFT) and technical support and analytical advice on the management of natural resources, this note is a reference guide to aid countries in using the AML/CFT framework to help combat crime related to and affecting the precious minerals sector while raising revenue.
