Thesis (M.A.)--University of Adelaide, Dept. of Politics, 1989. / Includes bibliographical references (leaves 312-327).

Thesis (Ph. D.)--Harvard University, 1992. / Includes bibliographical references.

Thesis (Ph. D.)--Northwestern University, 1990. / Includes bibliographical references (leaves 413-448).

The academic research into Project Finance lags far behind the practice of it. Project Finance, with limited or non recourse debt as its defining characteristic, has been growing tremendously since 2001 and is set to grow even further. This is due to the massive spend in infrastructure both globally and in South Africa, the need for private sector involvement and the limited capacity of corporations‟ balance sheets to fund such projects. Given this setting, this research aims to act as a catalyst for the development of a theoretical foundation of Project Finance in South Africa and to encourage further research. There were two phases to the research. The first phase consisted of an analysis of twenty two case studies on international projects that have used Project Finance, with the aim of extracting theories, principles and lessons that can be used to form a theory base. The second phase consisted of sixteen interviews with South African Project Finance industry experts, based on the theory from phase one, with the aim of exploring the current state of South African Project Finance. The first phase resulted in a broad description of the theory of Project Finance that can be used as an introduction to Project Finance or as a base for further research. The second phase produced a portrayal of South African Project Finance as it relates to the theory with specific recommendations for further research into Project Finance in South Africa. Copyright / Dissertation (MBA)--University of Pretoria, 2010. / Gordon Institute of Business Science (GIBS) / unrestricted

Thesis (Ph. D.)--Yale University, 1991. / Includes bibliographical references (leaves 138-143).

Thesis (Ph. D.)--University of Pittsburgh, 1986. / Includes bibliographical references (leaves 463-500).

Thesis (Ph. D.)--Union Institute, 1989. / Includes bibliographical references (leaves 145-154).

Thesis (Ph. D.)--New York University, 1987. / Typescript. Includes bibliographical references (p. 402-407).

D.Comm. / Foreign debt affects the economy through three main channels, namely: the debt overhang effect, the liquidity constraint effect and the uncertainty effect. The main aim of this study is to derive an optimal level of foreign debt relative to Gross Domestic Product (GDP) for South Africa by investigating these channels. Incurring foreign debt is like a double edge sword. On the one side the foreign debt is needed for economic development (from a demand perspective) and on the other side the level of debt impacts on the economy through higher domestic interest rates, via the sovereign risk spread, (from a supply perspective). The factors that impact on capital flows as shown by previous periods of financial distress in the global capital markets and debt sustainability were investigated. This study shows that risk spreads are driven by both internal and external factors. Investors will price into the secondary risk spread their perceptions of the sustainability of foreign debt. This is also impacted by external factors such as contagion and the credit rating of a country. The different objectives of government in the internal capital market since 1994 and the secondary objectives of building liquidity benchmarks, diversifying the foreign currency portfolio, broadening the investor base in RSA bonds and borrowing at the most effective rates, are also discussed. A number of equations were estimated using the Ordinary Least Squares (OLS) method and the values for government foreign debt were varied to test the impact on the familiar IS/LM/BP and AS/AD models. These models were further used to determine the debt overhang and liquidity constraint effect. It was found that foreign debt has an asymmetric impact on economic growth where it contributes to economic growth up to a level of approximately 35 per cent of GDP, where after it has a negative impact on economic growth.

Thesis (Ph. D.)--Harvard University, 1988. / Includes bibliographical references (p. leaves [209]-217).