This paper presents an analysis of the public investment scaling-up strategy for Togo using a dynamic macroeconomic model that explicitly analyzes the links between public investment, economic growth, and debt sustainability. In the model, public capital is productive and complementary to private capital, generating positive medium and long-run effects to increases in public investment. The model application indicates that a very large increase in public investment would have positive macroeconomic effects in the long-run, but would require unrealistic increases in the tax burden to cover recurrent costs and ensure debt sustainability. More modest increases in public investment would require more feasible increases in the tax burden, particularly if the efficiency of tax collection is improved. The model simulations also emphasize the importance of improvements in the efficiency of public investment to reap welfare gains. However, even if the macroeconomic implications of public investment scaling-up can be favorable in the long-run under certain assumptions on rates of return and efficiency of investment, the transition period is challenging and exposes the country to increased risk of unsustainable debt dynamics. The model was also used to assess the growth projections underlying the standard Excel-based debt sustainability analysis for Togo.

According to dictates of the Holy Vedas, "Anything born must die. You do not die before your assigned time. But die not a thousand deaths, before your destiny gives you a call.” (Atharva, 5.30.6.) Such a sermon has been echoed in the Holy Gita as well. ‘Providential Dictates’ provides the reader with a cocktail of tragedies and comedies, romances and contradictions of caste and cultural bias prevailing in the Indian society. This professional and emotional memoir also incorporates entertaining profiles of signs of progress in the lives of respectable medical men. Why does Rupashree, the only child of the Dean of a Medical Institution, a glamorous woman born and brought up in opulence and sophistication take her own life, in spite of being married to a handsome officer as graceful as a Greek God? What are the social contradictions or the mythological aberrations which impede progress and happiness in the society? What is the truth behind glittering lives of medical men in the society? Are these patrons of clubs and mall culture really as generous and moralizing as they are meant to be? One has to read on to find out.

A popular presentation of God's basic laws of Christian growth that produce an abundant and effective spiritual life.

The story of the farm labor movement from its roots in the nineteenth century to the conclusion of the graps strike.

Lists the meaning and origin of more than 1,700 traditional and contemporary English proverbs.

Reproduction of the original: Sowing and Reaping by Dwight Moody