Investing in Development: New Roles for Private Capital?

The surge of private capital flows to developing countries that occurred in the 1990s has been the most significant phenomenon of the decade for these countries. By the middle of the decade many developing countries in Asia and Latin America were awash with private foreign capital. In contrast to earlier periods when the scarcity of foreign capital dominated economic policy-making in these countries, the issue now for governments was how to manage the largescale capital inflows to generate higher rates ofinvestrnent and growth. While a number of developing countries were able to benefit substantially from the private foreign financing that globalisation made available to them, it also became apparent that capital inflows were not a complete blessing and could even turn out to be a curse. Indeed, in some countries capital inflows led to rapid monetary expansion, inflationary pressures, real exchange rate appreciation, fmancial sector difficulties, widening current account deficits, and a rapid build-up of foreign debt. In addition, as the experience of Mexico in 1994 and the Asian crisis of 1997-98 demonstrated, financial integration and globalisation can cut both ways. Private capital flows are volatile and eventually there can be a large reversal of capital because of changes in expected asset returns, investor herding behaviour, and contagion effects. Such reversals can lead to recessions and serious problems for financial systems. This paper examines the characteristics, causes and consequences of capital flows to developing countries in the 1990s. It also highlights the appropriate policy responses for governments facing such inflows, specifically to prevent overheating of the economy, and to limit the vulnerability to reversals of capital flows.

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The Fight against Smuggling at the Soviet-Polish Border throughout 1921-1939

Історико-політичні проблеми сучасного світу ◽

10.31861/mhpi2017.35-36.192-201 ◽

2017 ◽

pp. 192-201

Author(s):

Roman Kotsan

Keyword(s):

Soviet Union ◽

Interwar Period ◽

Criminal Liability ◽

Economic Crime ◽

Private Capital ◽

Public Authorities ◽

Security Services ◽

The Soviet Union ◽

Liability Limitation

The article considers smuggling as economic crime in the Soviet-Polish border in the interwar period. The reasons for smuggling activities are studied and summarized. Range of smuggled goods is shown. The number of arrested smugglers, their nationality, the value of seized goods both from Poland and the Soviet Union are investigated. Smuggling as a political phenomenon in the Soviet-Polish border in 1921-1939 is under study. The use of smugglers by the intelligence agencies of both Poland and the USSR are emphasized. The role of public authorities of both abovementioned countries in the fight against smuggling, namely Border Guard Corps from Poland; border guards, customs, security services and local Soviet authorities on the part of the USSR are studied. The influence of anti smuggling measures (increased criminal liability, limitation of private capital in trade, strengthen of the state borders protection) on its amount decrease is studied. Keywords: State border, smuggling, crime, scouting, Poland, USSR

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USE OF THE WORLD EXPERIENCE OF PUBLIC-PRIVATE PARTNERSHIP IN UKRAINE

Environmental Economics and Sustainable Development ◽

10.37100/2616-7689/2019/5(24)/6 ◽

2019 ◽

pp. 41-47

Author(s):

Natalia Tretyak ◽

Olga Kalenska

Keyword(s):

World Bank ◽

Economic Activity ◽

Spatial Development ◽

Public Private Partnership ◽

Private Capital ◽

Private Partnership ◽

The World Bank ◽

The World ◽

Area Of Application

The article investigates the world experience of public-private partnership in the economic activity of different countries. Different models and forms of contracts of public-private partnership are covered. The link between public-private partnership projects with the country and area of application is noted. The models of public-private partnership proposed by the World Bank for attracting private capital are covered. The main directions of realization of world forms of public-private partnership for Ukraine are proposed for the effective provision of sustainable spatial development, their further adaptation to the realities of our time.

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