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...

This paper presents a synopsis of the contextual conditions, factors and challenges under which the recent evolution of tax systems has taken place over the past three decades. The paper gives especial emphasis to the role of natural endowments, political economy, social structure and history,...