An application of the Mundell Fleming model in emerging market economies
- Authors: Tenderere, Morris
- Date: 2023-12
- Subjects: Macroeconomics , Foreign exchange rates , International economic relations
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10948/66039 , vital:74319
- Description: The core objective of this study was to test the applicability of the Mundell-Fleming model in emerging market economies. Despite its importance, no study has examined the applicability of the Mundell-Fleming model in emerging market economies, as far as this study is aware. The Mundell-Fleming model predicts that in an environment with freely floating exchange rates, a drop in interest rates will lead to capital flight, which in turn will result in a fall in the exchange rate and a rise in net exports. The model takes into account both the international flow of capital and the flow of goods and services that might have a big impact on the country. The model's theoretical foundations offer practical instruments for assessing the impact of economic policy in light of the adopted exchange rate regimes of a nation. The model plays a key role in anticipating the link between output, interest rates, and exchange rates. A quantitative approach using panel monthly data over the period 2000 to 2017 for five emerging countries was carried out. Brazil, Malaysia, China, India, and South Africa were the considered countries due to availability of data. The Dynamic Ordinary Least Square (DOLS) and Fully Modified Ordinary Least Square (FMOLS) were used to analyse the data. The study confirmed the applicability of the Mundell-Fleming model in the studied countries given a positive relationship between interest rate and portfolio investment. This result means that when interest rates rise, capital flows also increase. In addition, the confirmation of Mundell-Fleming model is reflected in the negative relationship between portfolio investment and the rate of exchange. The Mundell-Fleming model describes how movement of capital and exchange rates behave. The study recommended that to ease the threat of currency appreciation, the Central Banks in merging market economies must ensure that the domestic interest rate is always in line with the world interest rate. This will promote exchange rate stability and whenever there is an appreciation/depreciation the Central Banks must use interest rates to bring back the exchange rate to the desired rate. In emerging market economies, the reserve banks must employ what is referred to as the "sterilization" of capital flows to lessen the threat of currency appreciation. The local component of the monetary base (bank reserves plus currency) is decreased in a successful sterilization operation to counteract the reserve influx, at least temporarily. , Thesis (PhD) -- Faculty of Business and Economic Sciences, School of Economics, Development and Tourism, 2023
- Full Text:
- Date Issued: 2023-12
- Authors: Tenderere, Morris
- Date: 2023-12
- Subjects: Macroeconomics , Foreign exchange rates , International economic relations
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10948/66039 , vital:74319
- Description: The core objective of this study was to test the applicability of the Mundell-Fleming model in emerging market economies. Despite its importance, no study has examined the applicability of the Mundell-Fleming model in emerging market economies, as far as this study is aware. The Mundell-Fleming model predicts that in an environment with freely floating exchange rates, a drop in interest rates will lead to capital flight, which in turn will result in a fall in the exchange rate and a rise in net exports. The model takes into account both the international flow of capital and the flow of goods and services that might have a big impact on the country. The model's theoretical foundations offer practical instruments for assessing the impact of economic policy in light of the adopted exchange rate regimes of a nation. The model plays a key role in anticipating the link between output, interest rates, and exchange rates. A quantitative approach using panel monthly data over the period 2000 to 2017 for five emerging countries was carried out. Brazil, Malaysia, China, India, and South Africa were the considered countries due to availability of data. The Dynamic Ordinary Least Square (DOLS) and Fully Modified Ordinary Least Square (FMOLS) were used to analyse the data. The study confirmed the applicability of the Mundell-Fleming model in the studied countries given a positive relationship between interest rate and portfolio investment. This result means that when interest rates rise, capital flows also increase. In addition, the confirmation of Mundell-Fleming model is reflected in the negative relationship between portfolio investment and the rate of exchange. The Mundell-Fleming model describes how movement of capital and exchange rates behave. The study recommended that to ease the threat of currency appreciation, the Central Banks in merging market economies must ensure that the domestic interest rate is always in line with the world interest rate. This will promote exchange rate stability and whenever there is an appreciation/depreciation the Central Banks must use interest rates to bring back the exchange rate to the desired rate. In emerging market economies, the reserve banks must employ what is referred to as the "sterilization" of capital flows to lessen the threat of currency appreciation. The local component of the monetary base (bank reserves plus currency) is decreased in a successful sterilization operation to counteract the reserve influx, at least temporarily. , Thesis (PhD) -- Faculty of Business and Economic Sciences, School of Economics, Development and Tourism, 2023
- Full Text:
- Date Issued: 2023-12
A Protection of Personal Information Act Compliance Framework for the City of Tshwane’s Fresh Produce Market.
- Authors: Malepeng, Pheah Harold
- Date: 2023-04
- Subjects: Personal data protection , Agricultural marketing –- South Africa, City of Tshwane
- Language: English
- Type: Master's theses , Thesis
- Identifier: http://hdl.handle.net/10948/61213 , vital:69804
- Description: The Protection of Personal Information Act of 2013 (POPIA) is a law drafted to regulate the processing of personal information in South Africa. Its provisions include but are not limited to the usage of personal information for marketing purposes. While it was announced that enforcement of the law would commence in July 2021, many organisations are still in the process of reorganising themselves to comply with this important piece of legislation. Although the Information Regulator’s guideline document is available for utilization, organisations are struggling to develop POPIA compliance frameworks tailored to their operational requirements. As stated in section 6.2.1 of the Information Regulator’s guideline document, the act calls for the appointment of the an Information Officer by organisations who is required to develop, implement, monitor and maintain a POPIA compliance, framework. With that stated, this study aims to reports about developing a POPIA compliance framework for the City of Tshwane’s Fresh Produce Market. The study’s primary objective was to develop a POPIA compliance framework for the City of Tshwane’s Fresh Produce Market (TFPM) as a collector and processor of personal information. The study had three sub-objectives which were achieved using three research methods, namely literature review, content analysis and semi-structured interviews. Through a literature review, conditions that should be adhered to in relation to collecting and processing personal information were identified. Shifting the focus to the second sub-objective, a vigorous content analysis was performed to investigate the TFPM’s current method of collecting and processing personal information. The process involved evaluating the TFPM’s SOPs, Service Level Agreement, License Agreement, and the city of Tshwane’s Information Communication Technology Framework using the Nexia POPIA checklist. The evaluation results revealed a huge non-compliance gap with regard iii to POPIA and personal information conditions. Post development of the POPIA framework the study embarked on an expert review process with the top management of the TFPM to assess their view on the developed POPIA compliance framework. , Thesis (MPhil) -- Faculty of Engineering, the Built Environment and Technology, School of Information Technology, 2023
- Full Text:
- Date Issued: 2023-04
- Authors: Malepeng, Pheah Harold
- Date: 2023-04
- Subjects: Personal data protection , Agricultural marketing –- South Africa, City of Tshwane
- Language: English
- Type: Master's theses , Thesis
- Identifier: http://hdl.handle.net/10948/61213 , vital:69804
- Description: The Protection of Personal Information Act of 2013 (POPIA) is a law drafted to regulate the processing of personal information in South Africa. Its provisions include but are not limited to the usage of personal information for marketing purposes. While it was announced that enforcement of the law would commence in July 2021, many organisations are still in the process of reorganising themselves to comply with this important piece of legislation. Although the Information Regulator’s guideline document is available for utilization, organisations are struggling to develop POPIA compliance frameworks tailored to their operational requirements. As stated in section 6.2.1 of the Information Regulator’s guideline document, the act calls for the appointment of the an Information Officer by organisations who is required to develop, implement, monitor and maintain a POPIA compliance, framework. With that stated, this study aims to reports about developing a POPIA compliance framework for the City of Tshwane’s Fresh Produce Market. The study’s primary objective was to develop a POPIA compliance framework for the City of Tshwane’s Fresh Produce Market (TFPM) as a collector and processor of personal information. The study had three sub-objectives which were achieved using three research methods, namely literature review, content analysis and semi-structured interviews. Through a literature review, conditions that should be adhered to in relation to collecting and processing personal information were identified. Shifting the focus to the second sub-objective, a vigorous content analysis was performed to investigate the TFPM’s current method of collecting and processing personal information. The process involved evaluating the TFPM’s SOPs, Service Level Agreement, License Agreement, and the city of Tshwane’s Information Communication Technology Framework using the Nexia POPIA checklist. The evaluation results revealed a huge non-compliance gap with regard iii to POPIA and personal information conditions. Post development of the POPIA framework the study embarked on an expert review process with the top management of the TFPM to assess their view on the developed POPIA compliance framework. , Thesis (MPhil) -- Faculty of Engineering, the Built Environment and Technology, School of Information Technology, 2023
- Full Text:
- Date Issued: 2023-04
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