Abstract Over the years, Namibia continue to experienced rapid growth of unemployment. The purpose of this study is to investigate the effects of government expenditure and money supply on unemployment in Namibia. The annual data employed in the study covered the period from 1980 to 2018. The study applied the ARDL or bound cointegration approach which is said to be more appropriate for the estimation of small sample studies and variable combination of the order of integration (I (0) and I (...
Abstract In this paper, the demand for real money, M3, is estimated for South Africa for the period 1965 to 2003. The paper employs an Autoregressive Distributed Lag (ARDL) model using a two equation technique that includes cointegration and an errorcorrection model (ECM). The cointegration model estimates the long-run relation that might exists between the dependent variable and the explanatory variables, and the ECM determines the short-run relationship between money demand and its determi...
Abstract This study investigated the relationship between the exchange rate volatility and economic growth in Liberia from 1980 to 2012. Empirical literature shows conflicting results. The study used the generalised autoregressive conditional heteroskedasticity model to estimate volatility. The order of integration of the variables was tested and the variables were found not to have the same order of integration. The bounds test confirmed co-integration between GDP growth, exchange rate vola...
ABSTRACT The term exchange rate volatility is widely used in the financial market. The exchange rate is determined in the foreign exchange market, which is said to be the largest market in the world and it trades financial assets. Many studies have shown that researchers, relevant practitioners and policy makers pay lots of attention to the issue of exchange rate and volatility. Volatility is known to be very important when it comes to making decisions in financial trading activities that ar...
Abstract This paper explores the effects of competition and regulation on telecommunications sector performance in 14 Southern Africa Development Community countries from 1999 through 2006. Fixed effects regression indicates that competition has a positive influence on the total number of mobile subscribers, and a negative impact on fixed lines in operations. On the other hand regulation has a positive impact on the total number of mobile subscribers and fixed lines in operations. The study ...
ABSTRACT Investigating the effectiveness of transmission mechanisms of monetary policy is crucial for an economy. It is essential to understand how effectiveness the channels of transmission are in affecting economic activity. This study investigates the effectiveness of transmission mechanisms of monetary policy in Sierra Leone with particular focus on the interest rate, exchange rate, and credit channels. It used a Vector Autoregression (VAR) approach to estimate time series annual data fr...
ABSTRACT The thrust of this study was to analyse the impact of external debt on Zimbabwe’s economic growth using a Vector Autoregressive approach (VAR). The study used annual time series data covering the period 1980 to 2012 on the following variables: Economic growth (proxied as Real Gross Domestic Product), capital (proxied as Gross Fixed Capital Formation), labour force and external debt represented as LNY, LNK, LNLAB and LNEXT respectively. Results from the analysis confirm a long-run ...
ABSTRACT This paper examined the impact of public debt on economic growth of Namibia for the period 2003 to 2016 using quarterly time series data on GDP growth as a proxy for economic growth; external debt and domestic debt. Time series properties were tested for stationarity using the Augmented Dickey-Fuller test. Johannsen Cointegration test found no long run relationship among the variables under study. The study employed Toda-Yamamoto Granger causality tests following a VAR framework and...
ABSTRACT The aim of this study was to investigate the effectiveness of inflation targeting in South Africa using the Vector Autoregressive method (VAR). The study used monthly data for the period 2000 to 2013 on the following variables: Consumer Price Index Inflation (CPI), money supply (M1), Repo Rate and the Nominal Exchange Rate (NER). The VAR methodology was used to investigate the response of inflation to monetary policy shocks under the inflation targeting framework. The findings from ...
Abstract The study analyzed macroeconomic determinants of remittances in Southern Africa and made use of annual data for the period ranging from 2003 to 2016. The macroeconomic determinants used include: remittances themselves, the inflation rate, GDP growth rate, the nominal exchange rate, broad money and age dependency ratio. In doing so, the study further analyzed cyclicality and the volatility of remittances in the region in order to get a more rounded perspective. In seeking to meet its...
ABSTRACT The study investigated the relationship between trade openness and economic growth for Namibia using annual time series data over the period 1980 to 2011. The variables used include GDP per capita, labour force, capital formation, trade openness and real exchange rate. This study employed time series techniques such as unit root, cointegration, Granger-causality, impulse response function and forecast error variance decomposition. The Johansen co-integration analysis and Vector Auto...
ABSTRACT Inflation is a major macroeconomic issue in Ghana, although there have been times when it seemed to have been managed. This is evident in the periods such as June 2010, when Ghana attained a single-digit of 9.5%. However, there appears to be a fundamental problem in the management of inflation, in other words, inflation seem not to be tractable. The evidence from many studies conducted on inflation indicated that the causes of inflation are many and varied. However, the main thrust o...
Abstract The study analyzed macroeconomic determinants of remittances in Southern Africa and made use of annual data for the period ranging from 2003 to 2016. The macroeconomic determinants used include: remittances themselves, the inflation rate, GDP growth rate, the nominal exchange rate, broad money and age dependency ratio. In doing so, the study further analyzed cyclicality and the volatility of remittances in the region in order to get a more rounded perspective. In seeking to meet its...
Abstract The spatial distribution of economic activity is unevenly distributed across regions within countries. Regional development policies and the incidence of crime rates, an important aspect of the quality of the local business environment, may both impact spatial disparities in economic activity. This thesis examines the relationship between regional development policy, the quality of local business environment, that is, security or lack thereof, captured by crime incidence, and regiona...
Abstract Financial innovations are considered important factors in the development of the financial sector and economic growth. Following the 2007/2008 financial crisis, their effects, both positive and negative, have become an issue of considerable debate, especially in industrialised countries. While a number of empirical studies on the effects of financial innovation have been undertaken for industrialised countries, few developing country studies exist. This is surprising, given the remar...