Beyond patriotic discourse in financing the SDGs: investment-linked diaspora revenue bonds model for sub-Saharan Africa. Issue 4 (19th May 2017)

• Record Type: Journal Article
• Authors: Frimpong Boamah, Emmanuel; Osei, Davina; Yeboah, Thomas
• Is Part Of: Development in practice. Volume 27:Issue 4(2017)
• Page Start: 555
• Page End: 574
• Publication Date: 2017-05-19
• Subjects: Revenue bonds -- diaspora -- sovereign bonds -- Aid -- SDGs -- Sukuk -- sub-Saharan Africa; Technical assistance -- Developing countries -- Periodicals; Economic assistance -- Developing countries -- Periodicals; Developing countries -- Economic conditions -- Periodicals; 338.91091724
• DOI: 10.1080/09614524.2017.1310184
• Languages: English
• ISSNs: 0961-4524

Abstract

ABSTRACT: Mobilising and sustaining investment flows are two interrelated challenges of development financing. Given the untapped potential of remittances and knowledge flows of sub-Saharan Africa diasporas, an investment-linked diaspora revenue bonds model is proposed to target three issues: generating diaspora investments, which will not be used to service sovereign debts; linking such investments to projects, programmes, and sectors with high economic returns; and developing hybridised institutional frameworks of local and diaspora actors to manage this investment. This model, a hybrid of sovereign and corporate bonds, draws lessons from the Sukuk market and other diaspora bonds to offer an alternative solution to the multi-dimensional nature of development financing challenges confronting SSA countries.