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Increased investment in the mining sector in Africa is often presented as a key strategy to leverage growth and development on the continent. It has been described as a "motor for growth", which will contribute to poverty reduction. Massive investment has taken place, but the results in crucial areas such as sustainable economic and social development have been extremely disappointing. These outcomes are most frequently attributed to dysfunctional internal governance processes, mismanagement and corruption. Much attention has been given in recent years to the issue of "the poor resource governance" in mineral rich countries. In this volume, academics, policy-makers and practitioners from Africa and beyond aim to achieve a better understanding of these issues by proposing a renewal of approaches. Discussing the cases of Ghana, Mali and the Democratic Republic of the Congo they explore new ways of thinking about issues concerning governance and revenue flows

Revenue management is concerned with maximizing revenue flows while controlling costs. This is a new management framework combining conventional management accounting concepts and methods with notions of yield management, pricing, and process management. The revenue objective provides a unifying goal for the aforementioned concepts and methods that are especially suitable for service organizations, where revenue considerations are inextricably linked to the activities performed. While our focus is on service organizations, any organization will find something of value in this book.

Stable revenue flows are paramount for policy makers at all levels of government in order to effectively and efficiently provide goods and services to constituents. This work examines the relationship between tax and expenditure limitations (TELs) and municipal revenue volatility. The current literature suggests that more stringently binding TELs at the state level are associated with greater levels of revenue volatility. This work tests whether this finding extends to the local level of government as well. Examining ninety-nine municipalities over eight years (2004–2011), this work provides evidence that the stringency level of TELs is associated with reduced fluctuations in municipal revenue streams.

We are witnesses of large – scale electricity transport between European countries under the umbrella of the UCTE organization. This is due to the inabilyof generators to satisfy the growing consumption in some regions. In this content, we distinguish between two types of flow. The first type is physical flow, which causes costs in the transmission grid, whilst the second type is commercial flow, which provides revenues for the market participants. The old methods for allocating transfer capacity fail to take this duality into account. The old methods that allocate transmission border capacity to "virtual" commercial flows which, in fact, will not flow over this border, do not lead to optimal allocation. Some flows are uselessly rejected and conversely, some accepted flows can cause congestion on another border. The Flow Based Allocation method (FBA) is a method which aims to solve this problem.Another goal of FBA is to ensure sustainable development of expansion of transmission capacity. Transmission capacity is important, because it represents a way to establish better transmission system stability, and it provides a distribution channel for electricity to customers abroad. For optimal development, it is necessary to ensure the right division of revenue allocation among the market participants.This paper contains a brief description of the FBA method. Problems of revenue maximization and optimal revenue distribution are mentioned.

Stable revenue flows in the American states are paramount for state policymakers in order to effectively and efficiently provide goods and services to their constituents. However, there has been very little empirical work which examines what political factors are correlated with volatility in state revenue streams. This work examines one wide‐spread fiscal limit, tax and expenditure limitations, which a majority of states began adopting after the tax revolt of 1978. Using panel data and time‐series cross‐sectional analysis, this work finds that states with more stringently binding tax and expenditure limitations—in addition to other political, demographic, economic, and geographic factors—are associated with greater levels of state revenue volatility. Looking at 48 states over 37 years (1969–2005), this relationship is both statistically and substantively significant.

Trade has been recognized in the 2030 development Agenda as well as in the Addis Ababa Agenda for Action as an important means for the implementation of the Sustainable Development Goals (SDGs). This paper questions whether trade openness could be an important driver of financing for development flows, notably development aid (ODA), Foreign Direct Investment (FDI) inflows, and government public revenue, the latter being the ultimate financing source for development for any country. The paper also takes advantage of the framework of analysis to investigate the interplay between these three types of financial flows. Relying on an unbalanced panel dataset comprising 125 countries, of which 37 are Least Developed Countries (LDCs), the empirical analysis uses the three stage least squares econometric approach and provides two important pieces of evidence: first, international trade openness is an important tool for driving financial flows for development, including government public revenue, development aid and FDI. As a result, it could contribute to mobilizing the substantial financial resources needed for development, including for the implementation of the SDGs. Second, there are strong interactions (complementarity and substitutability) between these three types of financing for development flows.

Limited public funds for infrastructures have the government consider joining the private in a BOT project finance scheme. Generally, the BOT projects entail lots of managerial flexibilities that may induce the radical change of project's cash flows, an asymmetric payoff, when facing on the uncertainties due to the BOT project finance's unique characteristics. Among various managerial flexibilities in the BOT projects, the MRG (Minimum Revenue Guarantee) and the RCP (Revenue Cap) agreements are frequently used to protect the government and the developer from the operational risk. However, the combined effect of the MRG and RCP on the project value is not understood well because the traditional capital budgeting theory, the NPV (Net Present Value) analysis, is limited to assess the contingency of these agreements. So, the purpose of this paper is to develop the numerical model to assess the combined impact of the MRG and RCP agreements on the project value based on the option pricing theory and to suggest a theoretical framework. The approach applied in this paper is justified with the hypothetical BOT toll case and some meaningful conclusions are drawn from. The results by the option pricing concept are analyzed over those by NPV analysis and, finally, the combined value of the MRG and RCP agreements appears significant relative to the project value. Santruka Del ribotu viešojo sektoriaus lešu vyriausybe nusprende sujungti privačias lešas pagal SVP (angl. BOT) projektu finansavimo schema. Paprastai SVP projektai yra lanksčiai valdomi, todel gali sukelti radikaliu pokyčiu grynuosiuose projekto pinigu srautuose asimetrini atsipirkima del unikaliu SVP projektu finansavimo savybiu. Tarp ivairiu lanksčiu SVP projektu valdymo pavyzdžiu minetini minimalios pajamu garantijos (angl. MRG) ir pajamu kapitalizacijos (angl. RCP) susitarimai. Jie dažnai naudojami siekiant apsaugoti valdžia ir vystytoja nuo veiklos rizikos. Tačiau bendras minimaliu pajamu garantiju ir pajamu kapitalizacijos susitarimu poveikis projekto vertei nesuprantamas ir del to, kad tradicine kapitalo teorija, grynosios dabartines vertes (angl. NPV) analize yra ribotos vertinant nenumatytus šiu susitarimu atvejus. Taigi šio straipsnio tikslas ‐ pletoti skaitmenini modeli, ivertinti bendra minetu susitarimu poveiki projekto vertei, pagristai pasirinkto sandorio ikainojimo teorija, ir pasiūlyti teorini pagrindima. Šiame straipsnyje taikomas metodas pagristas hipotetiniais SVP rinkliavos atvejais ir kai kuriomis padarytomis išvadomis. Pasirinkto sandorio ikainojimo samprata analizuojama atliekant grynosios dabartines vertes analize, kol bendra minimaliu pajamu garantiju ir pajamu kapitalizacijos susitarimu verte tampa labai svarbi, palyginti su projekto verte. First Published Online: 18 Oct 2010

An important aspect of the fiscal relations between the
federal and provincial governments is the command over resources,
expenditure responsibilities and the direction, size and form of fiscal
flows between different layers of government. In most federations,
revenue sources generally assigned to lower levels of governments often
fall short of adequately fulfllling the expenditure responsibilities of
such governments. Given this important feature, the identification of
the predominant central authority over the country's resources and the
implications for public policy of the restructuring of centre-state
fiscal relations to ensure balanced development of all provinces emerge
as important issues. This paper documents trends in centralization for
both the expendit!lre and revenue sides of the budget, traces the
evolution of revenue sharing and other federal transfers and delineates
some policy guidelines in the area of fiscal federalism for Pakistan.
Intra-provincial differences have not been highlighted as the analysis
is carried out at the level of all provinces.

Each year local and national economies throughout the world lose billions of dollars through so-called illicit financial flows. Conservative estimates indicate that over a billion dollars are diverted illegitimately out of countries in the Southern Hemisphere every year. This diversion of revenue reinforces poverty while facilitating the concentration of authority in the hands a select few through corruption and abuse of power. The authors' objective with this book is to increase transparency in finance and global financial transactions. Understanding the phenomenon of illicit financial flows requires input from several disciplines including law, finance and economics, and much of what is known about illicit financial flows is thanks to whistleblowers and investigative journalists. This anthology highlights journalism about illicit, global financial activity from an interdisciplinary perspective. In conveying the experiences of whistleblowers and investigative journalists who have been involved with the Panama Papers, Paradise Papers, Lux Leaks and Swiss Leaks, the contributing authors underscore the need for journalism students to also learn the basics of economics, finance and law if they are to be able to carry out investigative projects in an increasingly more globalized economy. In the first part of the book, investigative journalists describe their work to expose corruption and capital flight, and whistleblowers in some of the most significant cases tell their stories, while lawyers and accountants explain what needs to be done at the legislative level. In the second half of the book, analyses of revelations of corruption and illegitimate financial flows are presented. The authors explore themes including the value of investigative journalism, new journalistic methods, inadequate protections for whistleblowers and the education of investigative journalists. This book will be of interest to anyone concerned about illicit financial flows, but especially to journalists, journalism students and journalism instructors seeking an understanding of what it takes to reveal the mechanisms behind illicit, global flows of wealth. ; publishedVersion

The Lao People's Democratic Republic (PDR) is a transitional economy, and one of the few least developed economies in the Southeast Asian region. Laos became a member of ASEAN in July 1997, and will participate in the ASEAN Free Trade Area (AFTA) from 1 January 1998. This paper examines the likely impact of AFTA membership on Laos's trade, government revenue and foreign investment flows. It is found that: (i) trade diversion is likely to be low, and that AFTA will provide the vehicle to negotiate market access issues with Thailand; (ii) the reduction in government revenue from trade taxes is likely to be low, particularly in the light of the high share of informal trade and low levels of trade diversion; and (iii) foreign direct investment (FDI) flows are likely to grow sharply, as the legal, administrative and institutional framework in Laos develops to meet the ASEAN standard.