A qualitative systematic review exploring online learning experiences among university students during Covid-19: An African Context
- Thoka, Tebogo https://orcid.org/0000-0002-6763-6367
- Authors: Thoka, Tebogo https://orcid.org/0000-0002-6763-6367
- Date: 2023-11
- Subjects: Internet in higher education , Education, Higher -- Computer-assisted instruction , Communicable diseases
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10353/28606 , vital:74472
- Description: The sudden and immediate transition to online learning during the COVID-19 pandemic brought forth unprecedented challenges, particularly within the education sector. In Africa, this shift was necessitated by the need to safeguard lives and preserve the academic year. However, the absence of adequate contextual consideration introduced additional complexities, influencing how students in the African context navigated their learning experiences during this unique time.This study aimed to comprehensively synthesize the online learning experiences of university students in Africa amid the COVID-19 pandemic and evaluate the influence of these experiences on academic performance. Drawing from the systematic review protocol proposed by Hemingway and Brereton, seven (7) qualitative research articles were rigorously selected based on predefined inclusion criteria and meticulously examined.Thematic analysis of the chosen articles revealed two overarching themes. The first, "Emotional Distress," encapsulated students' experiences of anxiety, depressive emotions, and anger. Contributing factors included limited interaction opportunities, a sense of isolation, insufficient online learning resources, inflexible course structures, and non-conducive learning environments. The second overarching theme, "Growth," encompassed improvements in grades and enhanced self-directed learning abilities.These findings hold significant implications for the enhancement of online learning experiences in Africa. To address the challenges associated with emotional distress and foster growth, we propose the following recommendations: increased focus on social interaction and support mechanisms, equitable access to online resources, flexible course structures, and fostering conducive learning environments. , Thesis (MA) -- Faculty of Social Sciences and Humanities, 2023
- Full Text:
- Date Issued: 2023-11
- Authors: Thoka, Tebogo https://orcid.org/0000-0002-6763-6367
- Date: 2023-11
- Subjects: Internet in higher education , Education, Higher -- Computer-assisted instruction , Communicable diseases
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10353/28606 , vital:74472
- Description: The sudden and immediate transition to online learning during the COVID-19 pandemic brought forth unprecedented challenges, particularly within the education sector. In Africa, this shift was necessitated by the need to safeguard lives and preserve the academic year. However, the absence of adequate contextual consideration introduced additional complexities, influencing how students in the African context navigated their learning experiences during this unique time.This study aimed to comprehensively synthesize the online learning experiences of university students in Africa amid the COVID-19 pandemic and evaluate the influence of these experiences on academic performance. Drawing from the systematic review protocol proposed by Hemingway and Brereton, seven (7) qualitative research articles were rigorously selected based on predefined inclusion criteria and meticulously examined.Thematic analysis of the chosen articles revealed two overarching themes. The first, "Emotional Distress," encapsulated students' experiences of anxiety, depressive emotions, and anger. Contributing factors included limited interaction opportunities, a sense of isolation, insufficient online learning resources, inflexible course structures, and non-conducive learning environments. The second overarching theme, "Growth," encompassed improvements in grades and enhanced self-directed learning abilities.These findings hold significant implications for the enhancement of online learning experiences in Africa. To address the challenges associated with emotional distress and foster growth, we propose the following recommendations: increased focus on social interaction and support mechanisms, equitable access to online resources, flexible course structures, and fostering conducive learning environments. , Thesis (MA) -- Faculty of Social Sciences and Humanities, 2023
- Full Text:
- Date Issued: 2023-11
Assessing the impact of access to climate services on smallholder farmers’ cropping decisions and household food security in Elundini Municipality, Eastern Cape province
- Authors: Yanga-Inkosi, Nocezo
- Date: 2023-11
- Subjects: Climatic changes , Food security -- Climatic factors , Crops and climate
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10353/28222 , vital:73913
- Description: Climate variability has significant implications for crop production and overall food security. Climate services, which provide tailored and localised climate information, have the potential to enhance farmers' understanding of climate patterns and support informed decision-making. The purpose of the study was to assess the impact of climate services on smallholder farmers’ cropping decisions and household food security. The study adopted a cross-sectional household survey on 217 smallholder crop farming households from Elundini Municipality. Structured questionnaires and face-to-face interviews were used to collect the required data from the farmers. Descriptive analysis was used to identify the types of climate service accessed by smallholder crop farmers in the study area. The probit model was used to examine factors influencing smallholder crop farmers’ access to specific climate services. The household dietary diversity score was used to measure household food security among smallholder crop farmers. The propensity score matching model was used to assess the impact of accessing specific climate services on cropping decisions and household food security. The results indicated that most farmers 77 percent in the study area had access to climate services. The results further showed that many farmers had access to short-term weather forecast 79 percent with very few accessing seasonal forecast 22 percent. The results also revealed that access to both short-term weather and seasonal forecasts is positively influenced by ownership of mobile phones and access to extension services. Similarly, access to short-term weather forecasts is positively influenced by age, monthly income, ownership of radio, timely climate information, and perceiving that climate change has negative effects on crop production. Land size, knowledge of climate change, and climate services accuracy are positive and significant factors influencing access to seasonal forecasts. Most of the smallholder farming households in the study area had higher dietary diversity scores 66 percent. Moreover, access to short-term weather and seasonal forecasts has a positive and significant impact on cropping decisions and household dietary diversity scores. The study concludes that climate services improve cropping decisions and household food security among smallholder crop farmers in Elundini Municipality. The study recommends that there should be investments in awareness programmes that will educate farmers about the importance of climate services and how to acquire and interpret both weather and seasonal forecasts. Stakeholders interested in improving smallholder farmers’ access to climate services should consider whether farmers own smart phones and have access to extension services, arable land, knowledge of climate change, and if the climate services are accurate for smallholder farmers. In addition, to improve crop production and household food security in the face of climate change, access to climate services by smallholder farmers should be considered. , Thesis (MSc) -- Faculty of Science and Agriculture, 2023
- Full Text:
- Date Issued: 2023-11
- Authors: Yanga-Inkosi, Nocezo
- Date: 2023-11
- Subjects: Climatic changes , Food security -- Climatic factors , Crops and climate
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10353/28222 , vital:73913
- Description: Climate variability has significant implications for crop production and overall food security. Climate services, which provide tailored and localised climate information, have the potential to enhance farmers' understanding of climate patterns and support informed decision-making. The purpose of the study was to assess the impact of climate services on smallholder farmers’ cropping decisions and household food security. The study adopted a cross-sectional household survey on 217 smallholder crop farming households from Elundini Municipality. Structured questionnaires and face-to-face interviews were used to collect the required data from the farmers. Descriptive analysis was used to identify the types of climate service accessed by smallholder crop farmers in the study area. The probit model was used to examine factors influencing smallholder crop farmers’ access to specific climate services. The household dietary diversity score was used to measure household food security among smallholder crop farmers. The propensity score matching model was used to assess the impact of accessing specific climate services on cropping decisions and household food security. The results indicated that most farmers 77 percent in the study area had access to climate services. The results further showed that many farmers had access to short-term weather forecast 79 percent with very few accessing seasonal forecast 22 percent. The results also revealed that access to both short-term weather and seasonal forecasts is positively influenced by ownership of mobile phones and access to extension services. Similarly, access to short-term weather forecasts is positively influenced by age, monthly income, ownership of radio, timely climate information, and perceiving that climate change has negative effects on crop production. Land size, knowledge of climate change, and climate services accuracy are positive and significant factors influencing access to seasonal forecasts. Most of the smallholder farming households in the study area had higher dietary diversity scores 66 percent. Moreover, access to short-term weather and seasonal forecasts has a positive and significant impact on cropping decisions and household dietary diversity scores. The study concludes that climate services improve cropping decisions and household food security among smallholder crop farmers in Elundini Municipality. The study recommends that there should be investments in awareness programmes that will educate farmers about the importance of climate services and how to acquire and interpret both weather and seasonal forecasts. Stakeholders interested in improving smallholder farmers’ access to climate services should consider whether farmers own smart phones and have access to extension services, arable land, knowledge of climate change, and if the climate services are accurate for smallholder farmers. In addition, to improve crop production and household food security in the face of climate change, access to climate services by smallholder farmers should be considered. , Thesis (MSc) -- Faculty of Science and Agriculture, 2023
- Full Text:
- Date Issued: 2023-11
Digital ambidexterity in South African Small and Medium Enterprises (SMEs): the role of network capability and value creation
- Chigori, Darlington Tawanda https://orcid.org/0000-0001-6284-1970
- Authors: Chigori, Darlington Tawanda https://orcid.org/0000-0001-6284-1970
- Date: 2023-11
- Subjects: Small business -- Management , Small business—Technological innovations
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/28513 , vital:74366
- Description: Ambidexterity is the capacity of an organisation to develop both exploration and exploitation capabilities simultaneously. These require different types of responses. This thesis investigates the role of ambidexterity in small and medium enterprises (SMEs). Ambidexterity is associated with network capability and value co-creation. In addition, SMEs can benefit from ambidexterity by reducing the risk of failure and promoting growth. The results suggest that ambidexterity in conjunction with networking partnerships and co-creation are key capabilities for small businesses. Secondly, they reveal that SMEs can develop ambidexterity by engaging in both formal and informal learning from their networking partnerships. This is important for policy makers because it suggests that government support for SMEs should focus on developing both formal and informal learning opportunities. Managers of SMEs should also focus on developing both formal and informal learning opportunities. It is an important capability for the success of these businesses. Networks can also be used as a learning mechanism by SMEs. Furthermore, the research also suggests that the use of digital technology networks can be beneficial for the development of ambidexterity. This means that SMEs should consider investing in digital technology networks to enhance their ambidexterity capabilities. Additional research is needed to determine the specific benefits that digital technology networks provide to SMEs. However, the findings suggest that digital technology networks can help to improve the development of ambidexterity. Although networks and co-creation may be necessary for SMEs, they should caution that openness to change can also be risky. It is essential to manage the risks associated with susceptibility to change. SMEs should consider investing in digital technology networks to help them manage these risk. , Thesis (PhD) -- Faculty of Management and Commerce, 2023
- Full Text:
- Date Issued: 2023-11
- Authors: Chigori, Darlington Tawanda https://orcid.org/0000-0001-6284-1970
- Date: 2023-11
- Subjects: Small business -- Management , Small business—Technological innovations
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/28513 , vital:74366
- Description: Ambidexterity is the capacity of an organisation to develop both exploration and exploitation capabilities simultaneously. These require different types of responses. This thesis investigates the role of ambidexterity in small and medium enterprises (SMEs). Ambidexterity is associated with network capability and value co-creation. In addition, SMEs can benefit from ambidexterity by reducing the risk of failure and promoting growth. The results suggest that ambidexterity in conjunction with networking partnerships and co-creation are key capabilities for small businesses. Secondly, they reveal that SMEs can develop ambidexterity by engaging in both formal and informal learning from their networking partnerships. This is important for policy makers because it suggests that government support for SMEs should focus on developing both formal and informal learning opportunities. Managers of SMEs should also focus on developing both formal and informal learning opportunities. It is an important capability for the success of these businesses. Networks can also be used as a learning mechanism by SMEs. Furthermore, the research also suggests that the use of digital technology networks can be beneficial for the development of ambidexterity. This means that SMEs should consider investing in digital technology networks to enhance their ambidexterity capabilities. Additional research is needed to determine the specific benefits that digital technology networks provide to SMEs. However, the findings suggest that digital technology networks can help to improve the development of ambidexterity. Although networks and co-creation may be necessary for SMEs, they should caution that openness to change can also be risky. It is essential to manage the risks associated with susceptibility to change. SMEs should consider investing in digital technology networks to help them manage these risk. , Thesis (PhD) -- Faculty of Management and Commerce, 2023
- Full Text:
- Date Issued: 2023-11
Human capital investment, productivity and economic growth in selected Sub Saharan African countries
- Mutambirwa, Edward https://orcid.org/0000-0002-9010-1950
- Authors: Mutambirwa, Edward https://orcid.org/0000-0002-9010-1950
- Date: 2023-11
- Subjects: Human capital -- Africa, Sub-Saharan , Economic development -- Africa, Sub-Saharan , Capital investments -- Africa, Sub-Saharan
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/28639 , vital:74481
- Description: Many Sub-Saharan African (SSA) countries experience low economic growth rate levels which is worrisome given the demographic window of opportunities in the region. The governments of SSA countries have been putting emphasis on increasing investments in human capital development as it is vital in unlocking potential economic growth through enhancing regional productivity. With this in mind, this study examined the effect of human capital investment on economic growth through productivity in 12 selected SSA countries during the period 2000 to 2017. The selection of these countries and the study period were based on the data availability as well as differences in income growth. The sample represents all the countries in the income growth groups which are low income, lower middle income and upper middle income. In order to examine the overall effect of human capital investment on economic growth the study utilizes two models which are: 1. Human capital investment and productivity in selected SSA countries. 2. Human capital investment and economic growth in selected SSA countries. Model 1 objective of the study was to investigate the effect of human capital investment on productivity in the selected SSA countries. Productivity proxied by labour productivity measured by real output per person employed was the dependent regressed against a host of independent variables which includes human capital investment, foreign direct investment (FDI), total factor productivity (TFP) and labour quantity growth (LQ).The human capital investment components used in the model included: fiscal expenditure on primary education (PEI), secondary education(SEI), tertiary education (TEI) all as a percentage of government expenditure on education; public health(PHI) as a percentage of GDP and domestic private health (DPHI) as a percentage of current health expenditure. Several estimation techniques which include the Pooled Mean Group (PMG), Panel Fully Modified Ordinary Least Square (PFMOLS) and Panel Dynamic Ordinary Least Square (PDOLS) were employed to analyse the relationship between the variables of interest. The empirical findings indicated that all human capital investment components contribute positively to labour productivity except tertiary education investment which had a negative effect. Moreover, the empirical findings also revealed that foreign direct investment and total factor productivity had positive effects on labour productivity while labour quantity growth had a negative effect. Model 2 objective examined the effect of productivity enhanced human capital on economic growth in the sample of countries. It also incorporated the direct channel of the effect of human capital on economic growth in the stated countries. Economic growth (EG) proxied by real GDP growth as the dependent variable and, on the other hand, explanatory variables being productivity enhanced human capital investment (PEHC), human capital (HC), gross fixed capital formation (GFCF), population growth (POP), institutional quality proxied by government effectiveness (GE) and political stability (PS). The same estimation techniques were also employed so as to obtain robust results. The empirical findings revealed that both productivity enhanced human capital investment and human capital contributes positively to economic growth in the selected SSA countries. In addition, the empirical results also proved that gross fixed capital formation, government effectiveness and political stability have positive effects on economic growth whilst population growth has a negative effect. Overall, the results of the study evidenced the existence of a transfer mechanism from human capital investment to economic growth through productivity in the selected SSA countries. The empirical results imply that increasing investment on human capital is of importance in trying to enhance productivity and through this economic growth in the SSA region. The study concludes that there is a potential on enhancing economic growth in the long run in the SSA region if countries invest more on human capital. Therefore, the study recommends that SSA countries must devote more budget to human capital so that free basic education can be offered in both primary and secondary as well as free health care services. With this, the objectives of quality education and health, sustainable and inclusive growth targets of the African Union (AU) Agenda 2063 as well as United Nations (UN) Sustainable Development Goals (SDGs) can be achieved. , Thesis (PhD) -- Faculty of Management and Commerce, 2023
- Full Text:
- Date Issued: 2023-11
Human capital investment, productivity and economic growth in selected Sub Saharan African countries
- Authors: Mutambirwa, Edward https://orcid.org/0000-0002-9010-1950
- Date: 2023-11
- Subjects: Human capital -- Africa, Sub-Saharan , Economic development -- Africa, Sub-Saharan , Capital investments -- Africa, Sub-Saharan
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/28639 , vital:74481
- Description: Many Sub-Saharan African (SSA) countries experience low economic growth rate levels which is worrisome given the demographic window of opportunities in the region. The governments of SSA countries have been putting emphasis on increasing investments in human capital development as it is vital in unlocking potential economic growth through enhancing regional productivity. With this in mind, this study examined the effect of human capital investment on economic growth through productivity in 12 selected SSA countries during the period 2000 to 2017. The selection of these countries and the study period were based on the data availability as well as differences in income growth. The sample represents all the countries in the income growth groups which are low income, lower middle income and upper middle income. In order to examine the overall effect of human capital investment on economic growth the study utilizes two models which are: 1. Human capital investment and productivity in selected SSA countries. 2. Human capital investment and economic growth in selected SSA countries. Model 1 objective of the study was to investigate the effect of human capital investment on productivity in the selected SSA countries. Productivity proxied by labour productivity measured by real output per person employed was the dependent regressed against a host of independent variables which includes human capital investment, foreign direct investment (FDI), total factor productivity (TFP) and labour quantity growth (LQ).The human capital investment components used in the model included: fiscal expenditure on primary education (PEI), secondary education(SEI), tertiary education (TEI) all as a percentage of government expenditure on education; public health(PHI) as a percentage of GDP and domestic private health (DPHI) as a percentage of current health expenditure. Several estimation techniques which include the Pooled Mean Group (PMG), Panel Fully Modified Ordinary Least Square (PFMOLS) and Panel Dynamic Ordinary Least Square (PDOLS) were employed to analyse the relationship between the variables of interest. The empirical findings indicated that all human capital investment components contribute positively to labour productivity except tertiary education investment which had a negative effect. Moreover, the empirical findings also revealed that foreign direct investment and total factor productivity had positive effects on labour productivity while labour quantity growth had a negative effect. Model 2 objective examined the effect of productivity enhanced human capital on economic growth in the sample of countries. It also incorporated the direct channel of the effect of human capital on economic growth in the stated countries. Economic growth (EG) proxied by real GDP growth as the dependent variable and, on the other hand, explanatory variables being productivity enhanced human capital investment (PEHC), human capital (HC), gross fixed capital formation (GFCF), population growth (POP), institutional quality proxied by government effectiveness (GE) and political stability (PS). The same estimation techniques were also employed so as to obtain robust results. The empirical findings revealed that both productivity enhanced human capital investment and human capital contributes positively to economic growth in the selected SSA countries. In addition, the empirical results also proved that gross fixed capital formation, government effectiveness and political stability have positive effects on economic growth whilst population growth has a negative effect. Overall, the results of the study evidenced the existence of a transfer mechanism from human capital investment to economic growth through productivity in the selected SSA countries. The empirical results imply that increasing investment on human capital is of importance in trying to enhance productivity and through this economic growth in the SSA region. The study concludes that there is a potential on enhancing economic growth in the long run in the SSA region if countries invest more on human capital. Therefore, the study recommends that SSA countries must devote more budget to human capital so that free basic education can be offered in both primary and secondary as well as free health care services. With this, the objectives of quality education and health, sustainable and inclusive growth targets of the African Union (AU) Agenda 2063 as well as United Nations (UN) Sustainable Development Goals (SDGs) can be achieved. , Thesis (PhD) -- Faculty of Management and Commerce, 2023
- Full Text:
- Date Issued: 2023-11
The analysis of the impact of financial integration on financial development and economic growth in the Southern African development community
- Ndlovu, Nomusa https://orcid.org/0000-0001-7777-2939
- Authors: Ndlovu, Nomusa https://orcid.org/0000-0001-7777-2939
- Date: 2023-11
- Subjects: Economic development -- Finance -- Africa, Southern , Financial services industry -- Africa, Southern
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/28650 , vital:74491
- Description: The study investigated the impact of financial integration on financial development and economic growth in the Southern African Development Community using annual data for the period 2000 to 2018. Literature shows that there is no universally accepted measure of financial integration hence the study utilized the Lane and Milesi-Ferretti measure, foreign direct investment as a percentage of GDP and Chinn-Ito (KAOPEN) index in achieving the objectives of the study. One of the main objectives of the study was to examine the impact of financial integration on financial development in the SADC community. The study utilized first difference GMM to achieve this objective and the results showed that Lane and Milesi-Ferretti measure and foreign direct investment as a percentage of GDP significantly affect financial development whilst Chinn-Ito (KAOPEN) index displayed an insignificant effect. The next step was to investigate the impact of financial integration on economic growth in the SADC region. To accomplish this objective, the study investigated both the direct channel as well as the possibility of financial integration indirectly influencing economic growth through financial development, trade openness, and institutional quality. The Three Stage Least Squares (3SLS) technique was utilized on a system of five simultaneous equations in examining the effect of financial integration on economic growth. The results revealed that financial integration affects economic growth both directly and indirectly. Regarding the indirect channels, only the financial development and institutional quality channel proved to be significant. To ensure the robustness of the results the study checked if the impact of financial integration was sensitive to the measure of financial integration and financial development used. The study employed KAOPEN to proxy financial integration while broad money supply (% of GDP) measured financial development. Robustness results confirmed that financial integration affects economic growth both directly and indirectly. This time, the trade openness channel was significant at 10% which shows the benefits through this channel are significant. This shows that the results of the trade openness channel are inconclusive. When the Lane and Milesi-Ferretti measure of financial integration was employed the impact of the trade openness channel was insignificant whilst a significant impact was found based on KAOPEN. The inconclusive findings for the trade openness channel may indicate the impact of financial integration on economic growth depends on the proxy of financial integration utilized. In addition, the study also gathered some interesting results where financial development, institutional quality, trade openness, and government size (government spending) are significant drivers of financial integration. The study makes some fundamental contributions to literature on financial integration, financial development, and economic growth. Initially, the study provides empirical evidence on the nature of the impact of financial integration on financial development in the SADC. In particular, this study contributes to the body of knowledge by showing that the impact of financial integration on financial development is linear. Secondly, this study makes an original contribution to the literature on the channels through which financial integration affect economic growth in the SADC, providing a more subtlety understanding of the mechanisms at play. Finally, the study provides important policy implications for policymakers and financial regulators in the SADC who seek to promote economic growth through financial integration. The findings of the study imply that deeper financial integration is crucial in the SADC region as it can potentially increase the rate of economic growth in the region. Not only economic growth will be boosted but also the institutional quality and the development of the financial sector of the countries in the region. Based on these findings, the study recommends that the governments of the member countries in the region continue to come up with policies that boost regional and international financial integration. The study suggests that to ensure that they continuously reap positive benefits from financial integration, member countries of the SADC should appoint a board that deals with implementation and accountability. This board must be responsible for ensuring that member countries implement the formulated policies and should also hold member countries accountable in case of failure to implement the formulated policies. Since the region is pursuing financial integration, the region must come up with policies that prioritize domestic developments in the form of financial development, improving domestic institutional quality and reducing trade restrictions in advance in order to ensure that preconditions for financial integration are met. Developing these will attract different forms of financial flows or increase financial openness which will ultimately boost economic growth. , Thesis (PhD) -- Faculty of Management and Commerce, 2023
- Full Text:
- Date Issued: 2023-11
- Authors: Ndlovu, Nomusa https://orcid.org/0000-0001-7777-2939
- Date: 2023-11
- Subjects: Economic development -- Finance -- Africa, Southern , Financial services industry -- Africa, Southern
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/28650 , vital:74491
- Description: The study investigated the impact of financial integration on financial development and economic growth in the Southern African Development Community using annual data for the period 2000 to 2018. Literature shows that there is no universally accepted measure of financial integration hence the study utilized the Lane and Milesi-Ferretti measure, foreign direct investment as a percentage of GDP and Chinn-Ito (KAOPEN) index in achieving the objectives of the study. One of the main objectives of the study was to examine the impact of financial integration on financial development in the SADC community. The study utilized first difference GMM to achieve this objective and the results showed that Lane and Milesi-Ferretti measure and foreign direct investment as a percentage of GDP significantly affect financial development whilst Chinn-Ito (KAOPEN) index displayed an insignificant effect. The next step was to investigate the impact of financial integration on economic growth in the SADC region. To accomplish this objective, the study investigated both the direct channel as well as the possibility of financial integration indirectly influencing economic growth through financial development, trade openness, and institutional quality. The Three Stage Least Squares (3SLS) technique was utilized on a system of five simultaneous equations in examining the effect of financial integration on economic growth. The results revealed that financial integration affects economic growth both directly and indirectly. Regarding the indirect channels, only the financial development and institutional quality channel proved to be significant. To ensure the robustness of the results the study checked if the impact of financial integration was sensitive to the measure of financial integration and financial development used. The study employed KAOPEN to proxy financial integration while broad money supply (% of GDP) measured financial development. Robustness results confirmed that financial integration affects economic growth both directly and indirectly. This time, the trade openness channel was significant at 10% which shows the benefits through this channel are significant. This shows that the results of the trade openness channel are inconclusive. When the Lane and Milesi-Ferretti measure of financial integration was employed the impact of the trade openness channel was insignificant whilst a significant impact was found based on KAOPEN. The inconclusive findings for the trade openness channel may indicate the impact of financial integration on economic growth depends on the proxy of financial integration utilized. In addition, the study also gathered some interesting results where financial development, institutional quality, trade openness, and government size (government spending) are significant drivers of financial integration. The study makes some fundamental contributions to literature on financial integration, financial development, and economic growth. Initially, the study provides empirical evidence on the nature of the impact of financial integration on financial development in the SADC. In particular, this study contributes to the body of knowledge by showing that the impact of financial integration on financial development is linear. Secondly, this study makes an original contribution to the literature on the channels through which financial integration affect economic growth in the SADC, providing a more subtlety understanding of the mechanisms at play. Finally, the study provides important policy implications for policymakers and financial regulators in the SADC who seek to promote economic growth through financial integration. The findings of the study imply that deeper financial integration is crucial in the SADC region as it can potentially increase the rate of economic growth in the region. Not only economic growth will be boosted but also the institutional quality and the development of the financial sector of the countries in the region. Based on these findings, the study recommends that the governments of the member countries in the region continue to come up with policies that boost regional and international financial integration. The study suggests that to ensure that they continuously reap positive benefits from financial integration, member countries of the SADC should appoint a board that deals with implementation and accountability. This board must be responsible for ensuring that member countries implement the formulated policies and should also hold member countries accountable in case of failure to implement the formulated policies. Since the region is pursuing financial integration, the region must come up with policies that prioritize domestic developments in the form of financial development, improving domestic institutional quality and reducing trade restrictions in advance in order to ensure that preconditions for financial integration are met. Developing these will attract different forms of financial flows or increase financial openness which will ultimately boost economic growth. , Thesis (PhD) -- Faculty of Management and Commerce, 2023
- Full Text:
- Date Issued: 2023-11
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