ABSTRACT This study investigates the relationship between the bank rate, unemployment and inflation rates in Namibia, and it also interrogates the policy implications of using the bank rate as a policy instrument not only to maintain price stability, but also to influence the unemployment rate in Namibia. In the same vein, the study aims to find out whether the Phillips curve is applicable to the Namibian economy, by using times series data of inflation, unemployment and bank rate from 1961 ...
ABSTRACT The objective of the study is to determine the impact of affirmative action policy on employment of the designated groups at management level for the period 2001 to 2006. The study uses panel data on 35 public and private institutions, selected randomly using the data provided by the Employment Equity Commission (EEC). The study uses the Fixed Effects Model (FEM) and Random Effects Model (REM) to determine whether employment of the designated groups at management level has an impact...
ABSTRACT This paper is an attempt to investigate the effects of tax revenue generation capacity on public spending in Sub-Saharan Africa drawing empirical lessons from three East African countries-Tanzania, Kenya and Uganda. It employs the co-integration and error-correction modeling framework to analyze the effects of erratic and inadequate revenue generation on physical and human capital development in Tanzania, Kenya, and Uganda using time-series data over the period 1970-2005.The result...
ABSTRACT The study determines the causal relationship between financial development and economic growth in Namibia. In order to test for existence of long run relationship between the variables, the study employs a cointegration and vector error correction model (VECM) technique. Granger causality test was applied to the variables to test for the direction of causation between variables. The study uses quarterly data for the period of 1993 to 2007. Economic growth is proxied by gross domesti...
ABSTRACT This research analysed the level of efficiency of commercial banks operating in Namibia. The research targeted the big four banks: First National Bank, Bank Windhoek, Standard Bank and Nedbank; by market share in the economy. The research was carried out using data from the respective banks’ annual reports for the period 2011 to 2015. Analysis of the data was done through the Data Envelopment Analysis (DEA) method. The inputs and outputs used were defined through the intermediatio...
Abstract Studies on the stability of money demand or money supply functions have received prominent attention in the literature. This is due to the importance of having stable money demand or money supply functions for economic predictions to ensure long-term economic stability. Although these functions are not the only tools for monetary policy formulation, they play an important role in the assessment of the effectiveness of monetary policy in an economy. Stability in money supply or money...
ABSTRACT The study sought to analyze the determinants of private investment in Kenya. The problem of ambiguous results of existing studies, mainly stemming from inappropriate econometric methods, called for further study of methodology and empirical model building. Results from numerous studies that have employed autoregressive distributed lag (ARDL) approaches are more likely to be persuasive than their predecessors. Primary objectives of the study were investigation of determinants of priv...
Abstract The purpose of the study was to explore and determine the factors that leads to the success and failure of the State Owned Enterprises (SOEs) in Namibia with a view to develop a privatization model that could be used as a pilot for future privatization effort within the Namibian context. A semi-structured questionnaire was used to collect primary data from 31 respondents who occupied management positions within the various departments of the 12 selected economic and productive SOEs....
Abstract The paper analysed the relationship between real exchange rate misalignment and capital flow in Namibia during the period 1993Q1 - 2015Q4. Namibia has a fixed exchange rate regime which is prone to speculative attack, moreover, a devaluation or undervaluation is the major cause of capital outflow which hinders economic growth. Thus, the estimation of the equilibrium RER and misalignment is essential. The study employed time-series techniques such as the unit root test, autoregressiv...
ABSTRACT This study investigates the effectiveness of the interest rate channel of monetary policy transmission in Zambia by employing the vector auto-regression (VAR) approach and focuses on the reduced-form relationships between money supply, inflation, real interest rate and real output by utilizing annual data for the period from 1980 to 2011. Using the 4 variable VAR model, the analysis was carried out by examining the dynamic nature of impulse response functions, multivariate Granger c...
Abstract The currencies of the five SACU countries have experienced notable volatility in the last decade. The purpose of this study therefore, was to identify the determinants of exchange rate volatility in the SACU region and also to determine if there is a long run relationship between exchange rate volatility and its determinants. The study used annual time series data from 1980 to 2017. This study uses the generalised autoregressive conditional heteroscedasticity GARCH (1, 1) approach. ...
Abstract This paper examines the weak and semi-strong form of the efficient market hypothesis in the Namibian foreign exchange market using sample data from the period January 1993 to December 2011. The study uses monthly nominal spot exchange rates for the British Pound (GBP), the United States Dollar (USD) and the European Currency Unit (EURO). The weak form is examined using the unit root tests, namely: the Augmented Dickey Fuller (ADF), the Philips-Perron (PP) and the Kwiatkowski-Phillip...
ABSTRACT Following the economic importance of export promotion for improved current account balance of an economy’s balance of payment, this study examines the export responses to exchange rate volatility in Nigeria. The research built a VAR model transformed to VECM as well as ARCH and GARCH model and found out that exchange rate volatility has a long – term negative effect on Nigeria exports. The result calls for policy actions to tackle rising exchange rate volatility. The research su...
Abstract Trade liberalization is gaining momentum in the world. For developing countries like Namibia it has serious revenue implications due to its substantial contribution to national budget. Namibia is a country characterized by small population of about 2 million coupled with small domestic market. Its membership to the Southern African Customs Union (SACU) benefits the country by sharing in the SACU Revenue Pool. Therefore, this paper analyzes the implications of trade liberalization on...
ABSTRACT Health expenditures have been on the rise in most countries including Namibia. Findings from studies that analyse the effects of demographic and epidemiological health outcomes on health expenditure can be used to determine if sufficient resources are being spent on health care, if they are appropriately allocated, and if not, how they could be re-allocated to achieve more value-for-money and bring about significant improvements in health outcomes. The study analysed effects of demo...