The interrelationships between foreign direct investment and economic growth in Africa
- Authors: Bolani, Lindelwa Mandisa
- Date: 2015
- Subjects: Investments, Foreign -- Africa , Economic development -- Africa , Africa -- Economic conditions -- 1960- , Africa -- Foreign economic relations , Gross domestic product -- Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1123 , http://hdl.handle.net/10962/d1019885
- Description: There has been a long search for the keys to development and economic growth in Africa. This study investigates the relationship between FDI and economic growth over the period 2000-2012 using data from 48 African countries. On the aggregate regional level FDI and economic growth were found to be positively correlated during this period. Using panel data econometric techniques and the Panel Granger Causality test, results revealed that a bi-directional causality relationship existed between FDI and GDP. Thus, the results suggest that GDP is a requirement for increased investment, and at the same time is the result of increased foreign investment. Thus, the conclusion is that African policy makers are justified in increasing their attempts to create an attractive business environment for foreign investors, as it is beneficial for economic growth.
- Full Text:
- Date Issued: 2015
- Authors: Bolani, Lindelwa Mandisa
- Date: 2015
- Subjects: Investments, Foreign -- Africa , Economic development -- Africa , Africa -- Economic conditions -- 1960- , Africa -- Foreign economic relations , Gross domestic product -- Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1123 , http://hdl.handle.net/10962/d1019885
- Description: There has been a long search for the keys to development and economic growth in Africa. This study investigates the relationship between FDI and economic growth over the period 2000-2012 using data from 48 African countries. On the aggregate regional level FDI and economic growth were found to be positively correlated during this period. Using panel data econometric techniques and the Panel Granger Causality test, results revealed that a bi-directional causality relationship existed between FDI and GDP. Thus, the results suggest that GDP is a requirement for increased investment, and at the same time is the result of increased foreign investment. Thus, the conclusion is that African policy makers are justified in increasing their attempts to create an attractive business environment for foreign investors, as it is beneficial for economic growth.
- Full Text:
- Date Issued: 2015
The implications of rural-urban migration on employment and household income with particular reference to Lesotho
- Authors: Damane, Moeti
- Date: 2012
- Subjects: Rural-urban migration -- Employment -- Lesotho Informal sector (Economics) -- Lesotho Lesotho -- Economic conditions
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1002 , http://hdl.handle.net/10962/d1002737
- Description: The research investigates the impact of internal rural - urban migration III Lesotho on household income and employment. Using data gathered from the 2002/03 household survey, the 2006 nationwide census and a questionnaire on rural - urban migration in Lesotho administered to 500 respondents in Maseru and Leribe, we estimate a logit model of the probability of employment in Lesotho in 2008 given a set of independent variables. The independent variables are respondent's work experience; years of education completed; employment status in 2004; employment status in 2008; gender; job skill level; place of residence in 2004 and a categorical variable that measures whether or not the respondent is a rural - urban migrant. The results suggest that migration and work experience have no significant impact on an individual's likelihood of being employed in the country's formal sector. Also, it was found that the higher the level of education an individual has, the less likely are their chances of employment in the country's formal sector because of the lack of formal jobs in the urban areas. Over 50% of Lesotho's workforce employed in the urban areas was discovered to work in the informal sector. The study concludes that there is a lack of jobs in Lesotho's urban formal sector that results in a thriving informal sector. The advantages of informal sector jobs to the rural - urban migrant include an increase in their standard of living as well as that of their family members left behind in the rural areas but the disadvantages include low levels of investor confidence that lead to a decrease in overall economic development and growth in the country.
- Full Text:
- Date Issued: 2012
- Authors: Damane, Moeti
- Date: 2012
- Subjects: Rural-urban migration -- Employment -- Lesotho Informal sector (Economics) -- Lesotho Lesotho -- Economic conditions
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1002 , http://hdl.handle.net/10962/d1002737
- Description: The research investigates the impact of internal rural - urban migration III Lesotho on household income and employment. Using data gathered from the 2002/03 household survey, the 2006 nationwide census and a questionnaire on rural - urban migration in Lesotho administered to 500 respondents in Maseru and Leribe, we estimate a logit model of the probability of employment in Lesotho in 2008 given a set of independent variables. The independent variables are respondent's work experience; years of education completed; employment status in 2004; employment status in 2008; gender; job skill level; place of residence in 2004 and a categorical variable that measures whether or not the respondent is a rural - urban migrant. The results suggest that migration and work experience have no significant impact on an individual's likelihood of being employed in the country's formal sector. Also, it was found that the higher the level of education an individual has, the less likely are their chances of employment in the country's formal sector because of the lack of formal jobs in the urban areas. Over 50% of Lesotho's workforce employed in the urban areas was discovered to work in the informal sector. The study concludes that there is a lack of jobs in Lesotho's urban formal sector that results in a thriving informal sector. The advantages of informal sector jobs to the rural - urban migrant include an increase in their standard of living as well as that of their family members left behind in the rural areas but the disadvantages include low levels of investor confidence that lead to a decrease in overall economic development and growth in the country.
- Full Text:
- Date Issued: 2012
Interest rate risk management : a case study of GBS Mutual Bank
- Authors: Williamson, Gareth Alan
- Date: 2008
- Subjects: GBS Mutual Bank , Interest rates -- Case studies , Interest rate risk -- Case studies , Risk management -- Case studies , Financial risk -- Case studies , Banks and banking -- Case studies
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:986 , http://hdl.handle.net/10962/d1002720 , GBS Mutual Bank , Interest rates -- Case studies , Interest rate risk -- Case studies , Risk management -- Case studies , Financial risk -- Case studies , Banks and banking -- Case studies
- Description: Banks play a pivotal role in the economic growth and development of countries, primarily through the diversification of risk for both themselves and other economic agents. Interest rate risk is regarded as one of the most prominent financial risks faced by a bank. A large portion of private banks’ revenue stems from net interest income that is generated from the difference between various assets and liabilities that are held on the balance sheet. Fluctuations in the interest rate can alter a bank’s interest income and value, making interest rate risk management vital to its success. The asset and liability committee of a bank is the internal committee charged with the duty of managing the bank’s interest rate risk exposure through the use of various hedging strategies and instruments. This thesis uses a case study methodology to analyse GBS Mutual Bank interest rate risk management. Its specific business circumstances, balance sheet structure and the market conditions over a specified period are used to comment on the practicality of a variety of balance sheet positioning strategies and derivative hedging instruments. The thesis also provides recommendations for the bank’s asset and liability committee in terms of its functions and organisation. It is elucidated that the most practical balance sheet hedging strategies are a volume strategy and immunisation, while the most practical derivative hedging instruments are interest rate futures and interest rate collars. It is found that the bank has a well functioning asset and liability committee whose only encumbrance to its functionality is the inadequacy of the informational technology used to measure, control and manage its interest rate risk position. This thesis concludes by summarising the practicality of the various interest rate risk hedging alternatives available to the GBS Mutual Bank. Implementing a particular strategy or instrument depends, of course, on its asset and liability committee’s decision.
- Full Text:
- Date Issued: 2008
- Authors: Williamson, Gareth Alan
- Date: 2008
- Subjects: GBS Mutual Bank , Interest rates -- Case studies , Interest rate risk -- Case studies , Risk management -- Case studies , Financial risk -- Case studies , Banks and banking -- Case studies
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:986 , http://hdl.handle.net/10962/d1002720 , GBS Mutual Bank , Interest rates -- Case studies , Interest rate risk -- Case studies , Risk management -- Case studies , Financial risk -- Case studies , Banks and banking -- Case studies
- Description: Banks play a pivotal role in the economic growth and development of countries, primarily through the diversification of risk for both themselves and other economic agents. Interest rate risk is regarded as one of the most prominent financial risks faced by a bank. A large portion of private banks’ revenue stems from net interest income that is generated from the difference between various assets and liabilities that are held on the balance sheet. Fluctuations in the interest rate can alter a bank’s interest income and value, making interest rate risk management vital to its success. The asset and liability committee of a bank is the internal committee charged with the duty of managing the bank’s interest rate risk exposure through the use of various hedging strategies and instruments. This thesis uses a case study methodology to analyse GBS Mutual Bank interest rate risk management. Its specific business circumstances, balance sheet structure and the market conditions over a specified period are used to comment on the practicality of a variety of balance sheet positioning strategies and derivative hedging instruments. The thesis also provides recommendations for the bank’s asset and liability committee in terms of its functions and organisation. It is elucidated that the most practical balance sheet hedging strategies are a volume strategy and immunisation, while the most practical derivative hedging instruments are interest rate futures and interest rate collars. It is found that the bank has a well functioning asset and liability committee whose only encumbrance to its functionality is the inadequacy of the informational technology used to measure, control and manage its interest rate risk position. This thesis concludes by summarising the practicality of the various interest rate risk hedging alternatives available to the GBS Mutual Bank. Implementing a particular strategy or instrument depends, of course, on its asset and liability committee’s decision.
- Full Text:
- Date Issued: 2008
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