Transcript ILP(Macro) - John Birchall

Interaction for
Leadership
Macro environment
The creation of wealth
National Income
 GDP to GNP
 Human Development Index
 How will Sierra Leone create wealth in the
coming decades
 What do we expect for the future?

Circular Flow of Income
The main objectives of government
Stable Prices
Value of Money
Purchasing Power
Cost of Living
Standard of Living
Control of Money Supply
Competitive Advantage
Trade Cycle
Stable Employment
Demand v Supply of Labour
Underemployment
Demand–deficient, structural, cyclical,
seasonal types of unemployment
Skills, flexibility, mobility, adding value
Links with anti-inflation policy
Government action/social wage/protection
Unemployment
Stable Trade Flows
Imports Substitution/Export Promotion
Balancing factors of production to create
capacity
Developing a manufacturing base
Intra trade
Tariffs, quotas etc and collection of revenue
Fair Trade/Access to other markets?
Building Growth
Stable Exchange Rates
Fixed, floating and managed exchange rates
Interest rate policy and other factors
influencing the exchange rate
Control of inflation
Printing of Money
Using ‘outside’ assistance – IMF etc
West African common currency/market?
Tariffs
Tariffs - 2
Growth and Development
The difference between the two
Ingredients of economic growth
Strategies for Development
Which way shall Sierra Leone go?
OPEN DISCUSSION!!
The international dimension
The role of the African Union
The work and future role of ECOWAS
How might the Mano River Agreement be
developed?
Can Africa gain greater importance in world
affairs?
Seat on UN Security Council?
ECA – what does it give Africa?
United Nations
IMF – loans, terms/conditions/future role
and influence in Africa?
World Bank – IBRD. IDA and other special
funds – how are these used in Africa and
should they be changed?
Debt – how much/% of export
earnings/ever repay it?
Other sources of finance – tradeoff/problems?
The dilemma of post Keynes era?
European Union
Common Agricultural Policy
Development Funding
World Trade Organisation
What do you want from the 25, soon to be
27 and one day 30+?
See MY SITE – lots on EU.
The future for Sierra Leone?
How will she expand her external trade?
How will she reduce import dependency?
Main ways of adding value?
Main markets/competitors?
Capital market?
How will she operate in the global economy?
How can others help?
Future - 2
New markets – China, India and ASEAN
NAFTA
Euro Zone
Regional Co-operation?
Continent Co-operation?
Digital Divide. North/South Co-operation
Cultural Changes?
What do you want to see?
Future - 3
Flourishing democracy?
Participation, inclusion and civil society?
Human Rights, respect for minorities?
Attractive base for the investment capital of
others?
What should you see in 2020, 2040, 2060?
Let’s talk the future – for us!
Future - 4
On line discussions on pre-agreed topic?
Same on random issues
Use of the net? www.johnbirchalleconomist.com
Let’s think of ways in which we can work
TOGETHER!