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Development Centre Studies Reducing Capital Cost in Southern Africa: (Complete Edition ‐ ISBN 9264014012)

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Southern Africa suffers from disproportionately expensive capital and this is denying the region its full growth potential. This book presents the ideas and proposals of a group of experts and practitioners from the state and business environments, brought together by the OECD Development Centre with public and private sector partners, on reducing the cost of capital in the region. It thus provides a unique insight into the nature of the problem of the cost of capital in Southern Africa and the effects it has on business activity and infrastructure development. In addition, the authors set out to define strategies for reducing capital cost, outlining measures suitable for government and private actors.  



AcknowledgementsPreface by Louka T. KatseliIntroductory Remarks‐Reducing Capital Costs: A Critical Aspect of South Africa's Economic "Normalisation" by Ian Plenderleith and Bertus Van Zyl‐Prudent Fiscal and Debt Management: Key to Lowering Capital Cost in South Africa by Phakamani HadebePart I. Country Risk, Capital Cost, and Growth in South Africa: An Overview‐Executive Summary‐Chapter 1. South African Country Risk: Backdrop and Challenges Ahead by Rudolf Gouws‐Chapter 2. The Modern Multinational: A Nomad Forever Seeking Greener Capital Pastures? by Michael PowerPart II. Monetary Policy, Country Risk, and the Bond Market‐Executive Summary‐Chapter 3. The Currency Premium and Local Currency Denominated Debt Costs in South Africa by Martin Grandes, Marcel Peter, and Nicolas Pinaud‐Chapter 4. Sovereign Spreads in South Africa by Faisal Ahmed, Vivek Arora, and Luca Antonio Ricci‐Chapter 5. The Development of the South African Corporate Bond Market: Relevance, Impediments, Prospects by Tom LawlessPart III. Financial Integration and Risk Mitigation in Southern Africa‐Executive Summary‐Chapter 6. Financial Development and Economic Growth in Southern Africa by Meshach Jesse Aziakpono‐Chapter 7. Foreign Investment and Regional Integration in Southern Africa by Lynne ThomasForeign Investment and Regional Investment in Southern Africa: Comments and Review by Christoph StorkConcluding Remarks
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Keywords: Disproportionately expensive capital in Southern Africa; effects on business activity and infrastructure development; strategies for reducing capital cost.

Document Type: Review Article

Publication date: December 1, 2005

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