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Public savings in Africa: Do sovereign wealth funds serve development?

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  • Tony Addison
  • Amir Lebdioui

Abstract

Do sovereign wealth funds (SWFs) contribute to Africa's development? This paper assesses the objectives of SWFs (fiscal stabilization, productive investment, intergenerational saving) and discusses alternatives. We argue that fiscal stabilization funds are often necessary, but entail considerable opportunity costs.

Suggested Citation

  • Tony Addison & Amir Lebdioui, 2022. "Public savings in Africa: Do sovereign wealth funds serve development?," WIDER Working Paper Series wp-2022-159, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:wp-2022-159
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    File URL: https://www.wider.unu.edu/sites/default/files/Publications/Working-paper/PDF/wp2022-159-public-savings-Africa-do-sovereign-wealth-funds-serve-development.pdf
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    References listed on IDEAS

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    1. Steve Kayizzi-Mugerwa, 2020. "Uganda's nascent oil sector: Revenue generation, investor-stakeholder alignment, and public policy," WIDER Working Paper Series wp-2020-175, World Institute for Development Economic Research (UNU-WIDER).
    2. Mahdi Barouni & Stijn Broecke, 2014. "The Returns to Education in Africa: Some New Estimates," Journal of Development Studies, Taylor & Francis Journals, vol. 50(12), pages 1593-1613, December.
    3. Natalya Naqvi & Anne Henow & Ha-Joon Chang, 2018. "Kicking away the financial ladder? German development banking under economic globalisation," Review of International Political Economy, Taylor & Francis Journals, vol. 25(5), pages 672-698, September.
    4. Julien Maire & Adnan Mazarei & Edwin M. Truman, 2021. "Sovereign wealth funds are growing more slowly, and governance issues remain," Policy Briefs PB21-3, Peterson Institute for International Economics.
    5. Cumming, Douglas J. & Wood, Geoffrey & Filatotchev, Igor & Reinecke, Juliane (ed.), 2017. "The Oxford Handbook of Sovereign Wealth Funds," OUP Catalogue, Oxford University Press, number 9780198754800.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

    1. Kunal Sen, . "The drivers of investment and savings rates: An exploratory note," UNCTAD Transnational Corporations Journal, United Nations Conference on Trade and Development.

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    More about this item

    Keywords

    Saving; Sovereign wealth funds; Fiscal policy; Development finance; Africa;
    All these keywords.

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