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AuthorsMarch 25, 2015The strategy to vertically integrate mining producers requires the identification of the right conditions for its financing. Many approaches are possible and the technique of securitization, although widely stigmatized since the financial crisis of 2008, must be considered. Several conditions are however necessary. It is unlikely that the off-balance sheet securitization is currently positioned as an important means to finance this sector’s production capacity. Whatever the scope of ...
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AuthorsFebruary 10, 2015Manufacturing is declining as a share of GDP not only in advanced countries, but in developing countries as well. This new trend, a result of complex forces, should be seen on balance as a reason for development-optimism, not pessimism. In the 21st century economy, manufacturing remains important, but poor countries can attract investment, grow rapidly and diversify away from agriculture on the basis of many possible sources of comparative advantage, without artificially promoting m ...