We develop a theoretical model in which debt and hedging decisions are made simultaneously, and test its predictions empirically. To address inefficiencies in current estimation methods for simultaneous equations with censored dependent variables, we build an original estimation technique based...

Purpose – This chapter discusses the potential role that Sovereign Wealth Funds (SWFs) could play to enhance development in African economies, both as recipient and home countries. Methodology – We use hand collected data on the universe of Africa's SWFs, their sizes and transparency, and...