This thesis addresses the puzzle of why changes in relative donor contributions to the World Bank’s International Development Association (IDA) did not reflect shifts in their relative economic capabilities. It addresses the grand debates about how power transitions shape a US-led hegemonic international system by exploring one specific international organisation. Drawing primarily on archives, elite interviews, and participant observation, I examine sixteen rounds of IDA replenishment negotiations from 1960 to 2010. There are three puzzles a close empirical analysis throws up. The first is why the hegemon maintained its burden shares regardless of rise or fall in economic status; I call this ‘Hegemonic Lag’. The second is why ascending powers were slow to assume greater burden-shares despite economic ascents; I call this ‘Challenger Inertia.’ The third puzzle is why significant burden-shifting occurred on a much greater scale than shifts in relative economic weight; I call this ‘Accelerated Burden-Shifting.’ Two conventional explanations – donors’ relative ‘ability-to-pay’ and their ‘country-specific interests’ – offer a first-cut analysis of donors’ ability and willingness to contribute. However, they fail to uncover how bipolar geopolitics and World Bank governance shaped IDA burden-sharing dynamics. This thesis tests whether the hegemon will maintain its shares even if its relative economic capacity wanes, if its bipolar rival poses a more intense external threat. Equally it tests whether a hegemon and/or waning powers with a desire to expand total IDA resources will cede voting rights to ascending powers in exchange for financial support to IDA. Finally, the research examines whether a hegemon violating the ‘fairness’ principle by shirking obligations but pursuing undue influence will face secondary states willing to take ‘exit/voice’ measures to restore an implicit contribution-to-influence equity line; and whether such countermeasures would be postponed if secondary states are structurally dependent upon the hegemon and/or lack viable outside options. In-depth case studies are used to test these hypotheses. Overall the thesis reveals that the US maintained or cut its burden share as the Soviet threat waxed and waned; and that as the Soviet Union collapsed the US abandoned both its leadership for IDA expansion to counter the Soviet threat and its self-restraint in controlling the World Bank, provoking the fairness concern among secondary states – the most potent factor in explaining IDA burden-sharing dynamics in the post-Cold War era.

A Dissertation Report presented to the Witwatersrand Business School Witwatersrand University In fulfilment of the requirements for the Doctor of Philosophy Degree in Management June 2017 / Impact investment is an innovative mechanism developed within the realm of development finance to intentionally create measurable positive impact beyond financial returns. It has become an instrument for South African banks to achieve their Financial Sector Charter goals of making a viable contribution towards economic growth, development, empowerment and reduction of inequalities and poverty in our society. South Africa is the largest market in Southern Africa for impact investment and the management dilemma faced by the South African Banking Sector as the financial intermediaries is how to account and measure the social value created by the impact investments? This study investigated the measurement practices of social value of impact investment and developed theoretical constructs on how the financial intermediaries measure social value. A multiple qualitative case study method utilising purposive sampling was employed. The sample included fourteen interviews that covered the South African Banking as financial intermediary (micro and macro perspective) and its value chain and the competitive landscape perspectives. The study had three sub-questions focusing on the conceptualisation of impact investment, the nature of the South African impact investment ecosystem and the nature of measurement of social value. Data was triangulated by integrating semi-structured interviews, field notes and secondary documents. The data analysis used Attride-Stirling’s thematic networks as an analytical tool to analyse the qualitative data. This consisted of three stages that covered six steps of analysis. The analysis used Excel software to navigate from the interview question, coding, labelling, definition of codes, issues discussed, theme identification, organising and global theme deduction, description of network, and the triangulation of data (respondents quotes, field notes and document text). The findings of the study developed three models, an impact investment conceptual model, impact investment ecosystem model for South African Banking Sector and the financial intermediary social value equation model that depicts the measurement ratios of hybrid returns of impact investment. The study recommends the seven emerging theoretical propositions as the backbone of measuring the innovative social finance. The emergent models’ theoretical propositions will ensure that practitioners use the models to measure and account for the SA Banking Sector’s social value creation and the models will influence the intellectual framing of those in academic and reflective practitioner domain. This study’s overall contribution was to create the foundation of a method and theory for measuring social value in anticipation and seeking to influence the types of managerial knowledge needed to deal with societal and organisational concerns in the fourth industrial revolution. / MT2017

Liberia, Africa's oldest democracy, has made several efforts in becoming a developed economy and ending poverty, but these efforts have been hampered by lack of appropriate financing mechanisms to achieve this goal. The most recent challenge which was the purpose of this study was to understand how Liberia can finance and achieve the sustainable development goals adopted by the United Nations in September 2015. Despite substantial external aid, Liberia was only able to meet 3 out of the 8 Millennium Development Goals, and more than 60% of the population remain extremely poor. The main research question was to understand what policy shifts are need for Liberia to finance its post-2015 development goals. Using Kingdon's multiple streams theory as the lens, a qualitative case study design was used to analyze literature, public reports, government reports, and the loosely-structured interviews of 15 purposefully-selected participants. The interview data were coded and categorized for thematic analysis. Results reveal that Liberia needs to make a policy shift in key areas including domestic resource mobilization, natural resource governance, combating corruption, strengthening the justice system, strengthening capacity for policy processes, and improving political leadership. The positive social change implication of this study includes recommendations for policymakers, the Ministry of Finance, and the donor community to strengthen domestic resource mobilization and undertake pro-poor tax reforms in order to reduce aid dependence, support Liberia's long-term plan to eradicate extreme poverty and become a middle-income country by 2030.

Thesis (M.DEV.) -- University of Limpopo, 2013 / The study aims to provide insights into the nature and extent of development funding provided to various poverty eradication projects by the National Development Agency (NDA) and its subsequent impact on reducing poverty in the predominantly rural communities of the Makhuduthamaga Municipality in the Limpopo Province. It examines in detail the impact made by the NDA on community development through the disbursement of funds to poverty eradication projects. It also provides insights into the total number of the NDA-funded projects and the total proportion of the NDA-funds allocated to them in the Makhuduthamaga Municipality. The study further examines the nature of the NDA support regarding the design of the interventions, relevance, participation of communities, delivery modalities and sustainability. The effectiveness of the NDA-funded projects in community development is determined using employment opportunities created, income generated, skills transferred, assets accumulated, sustainability mechanisms and community empowerment indicators. Although all of these indicators are found to be tightly linked to the NDA’s mandate of poverty eradication, the extent to which the NDA has achieved its objectives in disbursing development funding earmarked for poverty eradication and strengthening of CSOs was yet to be determined, hence the relevance of this study. The study, therefore, highlights key issues regarding the types of employment opportunities created and levels of income emanating from the NDA-funded projects. The study further highlights various areas of community empowerment, financial and sustainability measures put in place for the sustainability of the NDA-funded projects. Using a combined method of research, that is the qualitative and quantitative case study approach, the study highlights in detail insights into the impact made by the NDA on community development, particularly on Makhuduthamaga Municipality. The study highlights that while the NDA made some strides in the creation of employment opportunities, income generation, food security and community empowerment, both financial and institutional sustainability proved to be a daunting challenge for the NDA-funded projects Tailor-made and accredited training interventions coupled with the introduction of market-driven products to the NDA-funded projects as opposed to heavy reliance on donor funding will go a long way in bringing about productivity and, most probably, positive balance sheets and the maximum impact on the NDA funded projects.

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No description available.

Thesis (Ph. D.)--University of Wisconsin--Madison, 1991. / Typescript. Vita. eContent provider-neutral record in process. Description based on print version record. Includes bibliographical references (leaves 313-337).

M.Comm. / The objective of this thesis is to examine the importance of external finance of economic development and growth in South Africa. The investigation takes cognisance of the unique characteristics of the South African economy, especially the years of isolation from the world economy, unequal distribution of income and the need for sustainable economic growth to create employment and thus a stable social and economic environment conducive to foreign investment. The inflow of foreign capital in the economic development process is an imperative for filling either the investment-savings gap or the import-export gap. In a closed economic system the demand for investment funds will be met by the supply of domestic savings. Economic growth will be limited to the availability of investment funds, or domestic savings. In an open economic system, the demand for investment funds can be supplemented by the inflow of foreign capital, and growth will thus not be impaired by a scarcity of investment resources. Foreign capital inflows formed an integral part of the economic development process in the South African economy since the discovery of gold and diamonds in the latter half of the nineteenth century. Until 1976, in 24 out of 31 years, the South African economy recorded a net inflow of foreign capital. South Africa could, until 1976, the year in which political and social unrest broke out, finance a shortfall on the current account of the balance of payments with the inflow of foreign capital. Since then South Africa became a net exporter of capital. The South African economy found itself isolated from the world economy since the middle eighties due to the Apartheid policy. The inflow of foreign capital was greatly inhibited by sanctions and disinvestment. The South African economy had to rely on domestic savings to finance investment needs. This shortage of investment funds was an inhibiting factor on economic growth and development. This dissertation distinguishes between the different developing funding sources and as such outlines the benefits of using both multilateral as well as bilateral developing funding institutions to enhance and foster economic growth and development, especially in developing countries. It also gives a historical overview of South Africa's relationships with and use of these institutions. The reintegration of Eastern Europe into the world economy meant even bigger pressure on existing development funds. Since the early nineties funds available to the Third World for economic development have been steadily declining. New sources of funds for economic development had to be found. The emphasis has been moving away from pure development assistance and grants to direct foreign investment as a means of financing development in the developing world.

Inflows of Foreign Direct Investment (FDI) and Foreign Portfolio Investment (FPI) into Sub Saharan Africa (SSA) between 2000 and 2014 remained a minute fraction (at only 2% and 1% respectively) of global inflows. This study seeks to explain this phenomenon by examining the push (global) and pull (domestic) factors that may help to explain inflows of FDI and FPI in SSA and the mechanisms through which these factors affect inflows (the how). As ongoing regional integration efforts in Africa through trading blocs, the study also discusses the role of regional trading blocs in explaining capital flows into SSA. In the process, the research challenges some of the established theories and contributes to policy for managing international capital inflows. The study identifies possible explanatory variables from existing theory and empirical studies. Data on possible determinants of FDI and FPI is largely extracted from the World Bank and IMF databases. The determinants considered are macro-economic, infrastructural, institutional, resource endowment and geographical related. These are modeled into econometric model of FDI and FPI. Several hypotheses on the possible determinants are then tested using panel regressions with random effects. The results indicate that SSA's FDI during the period reviewed is mainly pulled by macroeconomic dynamics, infrastructure and human resources factors and pushed by global macroeconomic performance. Likewise, FPI is largely pulled by GDP and infrastructure factors. The results further show that FDI and FPI inflows in regional trading blocs of SADC, COMESA and ECOWAS are affected by different risk, return, macroeconomic, trade and distance factors. The effects of factors such as distance and macroeconomic factors also vary across the regional trading blocs, suggesting their importance of these blocs in capital flows.

This research paper aims to explore the use of project finance to fund urban infrastructure in order to aid the development of affordable housing. This is due to the high rate of urbanisation in developing nations, leading to the challenge of providing adequate shelter and the requisite infrastructure. Although South Africa has been lauded for making observable strides in housing and infrastructure provision, infrastructure is still required. There is reluctance to bring private finance into infrastructure development in developing economies because full recovery of invested capital is not easy to achieve. Project finance is recommended to improve the rate of shelter provision as well as to catalyse the eradication of slums. Project finance was investigated through interviewing selected participants, based on their role in the infrastructure provision sector. The outcomes indicated that project finance is an appropriate tool due to its characteristics.