A dynamic analysis of the influence of monetary policy on the general price level in Zimbabwe under periods of hyperinflation and dollarisation
- Authors: Kavila, William
- Date: 2015
- Subjects: Monetary policy -- Zimbabwe , Inflation (Finance) -- Zimbabwe , Inflation targeting -- Zimbabwe , Zimbabwe -- Economic conditions
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/3889 , vital:20473
- Description: This thesis analyses the influence of monetary policy on the general price level in Zimbabwe during periods of hyperinflation and dollarisation. The first part of the analysis covers the period January 2006 to July 2008 when the country experienced high inflation and ultimately hyperinflation. The second part covers the period 2009 to 2012, when the country adopted the multi-currency system and became fully dollarised. In terms of motivation, the study firstly sought to empirically examine the factors that led to hyperinflation in Zimbabwe, paying particular attention to the influence of monetary policy. Secondly, the thesis sought to determine the major factors that influenced price formation in a dollarised Zimbabwean economy; a completely new macro-economic environment. A significant development in this new macro-economic environment was the loss of monetary policy autonomy of the central bank, which also contributed to the relevance of the study. This thesis makes two contributions. The first contribution is the finding that hyperinflation in Zimbabwe was caused by expansionary monetary policy as a result of the activities of an unrestrained and unaccountable central bank. The second contribution was the empirical finding that in the fully dollarised economy inflation is largely determined by external factors. This implies that the domestic economy has no control over domestic inflation developments and as such, Zimbabwean authorities should formulate appropriate economic policies to respond to the impact of external shocks on domestic price formation when the need arises. The role of monetary policy in Zimbabwe’s hyperinflation episode is assessed using the Autoregressive Distributed Lag (ARDL) and the Error Correction Model (ECM) approaches with monthly data from January 2006 to July 2008. The impact of monetary policy on hyperinflation is captured by the coefficient of broad money supply and the interest rate. Results indicate that hyperinflation was caused by expansionary monetary policy, the exchange rate premium and inflation expectations for both the short and long term. Zimbabwe’s hyperinflation episode which peaked during the period 2007 to 2008 brings to the fore the importance of ensuring that the central bank is independent in executing its mandate of influencing the monetary policy process in a manner that ensures price stability. The ARDL and ECM approaches are also used to explore the dynamics of inflation in the dollarised Zimbabwean economy, with monthly data from January 2009 to December 2012. The main drivers of inflation under the multi-currency system were found to be the United States of America dollar/South African rand exchange rate, international oil prices, inflation expectations and the South African inflation rate. The findings contrast with the hyperinflationary era, where empirical studies have cited excessive money supply growth as the major driver of inflation dynamics in Zimbabwe. The results also suggest a higher exchange rate pass-through to domestic prices, consistent with empirical literature which postulates that inflation in dollarised economies is largely explained by movements in the exchange rate of major trading partners and international prices. The policy implication from the analysis is the need for policy makers to aggressively promote policies that ensure increased productivity of the economy. An improvement in productivity would influence the relative prices of tradable and non-tradable goods and ultimately the general price level in the economy. The study also quantified the independence of the Reserve Bank of Zimbabwe (RBZ) using the Mathew (2006), “new index for institutional quality” and the results showed that the RBZ is not an independent central bank. The central bank is found to have a low index of central bank independence (CBI), against a high level of inflation. While this relationship does not imply causality it can be inferred that the lack of independence of the RBZ could have influenced inflation dynamics in Zimbabwe. Only a subordinated central bank can be compelled to engage in inflationary deficit financing and also fund quasi-fiscal activities. The provisions of the RBZ Act [Chapter 22:15] in their current form make the central bank an appendage of the Ministry of Finance and Economic Development and this has, to a large extent, resulted in conflict between the political goals of government and the central bank’s primary objective of achieving price stability. In the event that Zimbabwe reintroduces its own currency in future, the achievement of the primary goal of price stability by the central bank will only be realised if the apex bank is given more autonomy.
- Full Text:
- Date Issued: 2015
- Authors: Kavila, William
- Date: 2015
- Subjects: Monetary policy -- Zimbabwe , Inflation (Finance) -- Zimbabwe , Inflation targeting -- Zimbabwe , Zimbabwe -- Economic conditions
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/3889 , vital:20473
- Description: This thesis analyses the influence of monetary policy on the general price level in Zimbabwe during periods of hyperinflation and dollarisation. The first part of the analysis covers the period January 2006 to July 2008 when the country experienced high inflation and ultimately hyperinflation. The second part covers the period 2009 to 2012, when the country adopted the multi-currency system and became fully dollarised. In terms of motivation, the study firstly sought to empirically examine the factors that led to hyperinflation in Zimbabwe, paying particular attention to the influence of monetary policy. Secondly, the thesis sought to determine the major factors that influenced price formation in a dollarised Zimbabwean economy; a completely new macro-economic environment. A significant development in this new macro-economic environment was the loss of monetary policy autonomy of the central bank, which also contributed to the relevance of the study. This thesis makes two contributions. The first contribution is the finding that hyperinflation in Zimbabwe was caused by expansionary monetary policy as a result of the activities of an unrestrained and unaccountable central bank. The second contribution was the empirical finding that in the fully dollarised economy inflation is largely determined by external factors. This implies that the domestic economy has no control over domestic inflation developments and as such, Zimbabwean authorities should formulate appropriate economic policies to respond to the impact of external shocks on domestic price formation when the need arises. The role of monetary policy in Zimbabwe’s hyperinflation episode is assessed using the Autoregressive Distributed Lag (ARDL) and the Error Correction Model (ECM) approaches with monthly data from January 2006 to July 2008. The impact of monetary policy on hyperinflation is captured by the coefficient of broad money supply and the interest rate. Results indicate that hyperinflation was caused by expansionary monetary policy, the exchange rate premium and inflation expectations for both the short and long term. Zimbabwe’s hyperinflation episode which peaked during the period 2007 to 2008 brings to the fore the importance of ensuring that the central bank is independent in executing its mandate of influencing the monetary policy process in a manner that ensures price stability. The ARDL and ECM approaches are also used to explore the dynamics of inflation in the dollarised Zimbabwean economy, with monthly data from January 2009 to December 2012. The main drivers of inflation under the multi-currency system were found to be the United States of America dollar/South African rand exchange rate, international oil prices, inflation expectations and the South African inflation rate. The findings contrast with the hyperinflationary era, where empirical studies have cited excessive money supply growth as the major driver of inflation dynamics in Zimbabwe. The results also suggest a higher exchange rate pass-through to domestic prices, consistent with empirical literature which postulates that inflation in dollarised economies is largely explained by movements in the exchange rate of major trading partners and international prices. The policy implication from the analysis is the need for policy makers to aggressively promote policies that ensure increased productivity of the economy. An improvement in productivity would influence the relative prices of tradable and non-tradable goods and ultimately the general price level in the economy. The study also quantified the independence of the Reserve Bank of Zimbabwe (RBZ) using the Mathew (2006), “new index for institutional quality” and the results showed that the RBZ is not an independent central bank. The central bank is found to have a low index of central bank independence (CBI), against a high level of inflation. While this relationship does not imply causality it can be inferred that the lack of independence of the RBZ could have influenced inflation dynamics in Zimbabwe. Only a subordinated central bank can be compelled to engage in inflationary deficit financing and also fund quasi-fiscal activities. The provisions of the RBZ Act [Chapter 22:15] in their current form make the central bank an appendage of the Ministry of Finance and Economic Development and this has, to a large extent, resulted in conflict between the political goals of government and the central bank’s primary objective of achieving price stability. In the event that Zimbabwe reintroduces its own currency in future, the achievement of the primary goal of price stability by the central bank will only be realised if the apex bank is given more autonomy.
- Full Text:
- Date Issued: 2015
A framework for price tariffs in the costing structures of South African private hospitals
- Authors: Botha, Gideon
- Date: 2020
- Subjects: Hospitals, Proprietary
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/47489 , vital:40126
- Description: The increase of South African health care costs can be extrapolated into the global healthcare cost challenge, with various factors contributing to this problem. One of the factors viewed as being central to the rising cost of health care is the inability of health care provider organisations to accurately measure unit costs of resources used to treat a patient for their medical condition and patient outcomes. The measurement of an accurate unit cost and patient outcomes is imperative to improving value, which is seen as an improvement in outcomes for every rand spent. The determination of price tariffs and the price tariff payment model used to onward bill the price tariff for medical services have also been identified as having a central role in improving value in health care. In order for price tariffs to improve value, they should be reflective and be based on an accurate unit cost that reflects the cost of resources used to provide efficient and effective care for a patient’s medical condition. For the price tariff payment model to improve value, it needs to reward providers for delivering superior patient outcomes at a lower cost by making price tariffs contingent on achieving specified outcomes as well as incorporating performance payments or holdbacks based on outcomes achieved. This study provides a framework for price tariffs in the costing structures of South African private hospitals. Secondary research was conducted in the form of a comprehensive literature search in order to do an interpretative analysis of the strengths and weaknesses of the various combinations of unit costing models and price tariff payment models used to determine prices in private hospitals. The literature review was followed by primary research that involved three phases, all of which used a qualitative research approach. In Phase 1, primary data were collected using unobtrusive measures that consisted of a data request first, followed by unstructured interviews with representatives of Hospital A and Hospital B to obtain an analysis of the combinations of unit costing model and price tariff payment model used for a laparoscopic appendectomy. In Phase 2, data were collected by means of an unstructured interview with a surgeon describing a laparoscopic appendectomy procedure in detail and based on this process description, the approximate costs for the various resources that were sourced from different suppliers could be calculated. The data analysis and interpretation were done in three phases, with each phase having different research objectives. The data were first coded and then interpreted. In the first primary research phase, the combinations of unit costing models and price tariff payment models used by private Hospital A and Hospital B were evaluated. In the second phase, the recommended combination of unit costing model and price tariff payment model was applied to a hypothetical example and evaluated. In the final phase, based on the outcome of the first and second research phases, a combination of unit costing model and price tariff payment model for private hospitals was recommended. The results showed that the recommended combination of unit costing and price tariff payment model namely time-driven activity-based costing with the global fee price tariff payment model was the most appropriate to determine price tariffs in private hospitals when compared to the unit costing models and price tariff payment models used by Hospital A and Hospital B for a laparoscopic appendectomy. Furthermore, the recommended combination of unit costing model and price tariff payment model was found to be usable for the determination of price tariffs in the costing structures of private hospitals. The time-driven activity-based costing model and global fee price tariff payment model should be adopted or used as guidelines for determining price tariffs in private hospitals in South Africa. Price tariffs would be more transparent as they would reflect the actual resource cost of treating the patient and the resources used and treatment provided could then be assessed against the delivery value chain that charts the principal activities involved in a patient’s care for a medical condition to ensure that patient best-practice protocols are followed. The proposed framework enables the determination of price tariffs based on an accurate unit cost reflecting the actual resources used to provide efficient and effective care and also improve value for the patient.
- Full Text:
- Date Issued: 2020
- Authors: Botha, Gideon
- Date: 2020
- Subjects: Hospitals, Proprietary
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/47489 , vital:40126
- Description: The increase of South African health care costs can be extrapolated into the global healthcare cost challenge, with various factors contributing to this problem. One of the factors viewed as being central to the rising cost of health care is the inability of health care provider organisations to accurately measure unit costs of resources used to treat a patient for their medical condition and patient outcomes. The measurement of an accurate unit cost and patient outcomes is imperative to improving value, which is seen as an improvement in outcomes for every rand spent. The determination of price tariffs and the price tariff payment model used to onward bill the price tariff for medical services have also been identified as having a central role in improving value in health care. In order for price tariffs to improve value, they should be reflective and be based on an accurate unit cost that reflects the cost of resources used to provide efficient and effective care for a patient’s medical condition. For the price tariff payment model to improve value, it needs to reward providers for delivering superior patient outcomes at a lower cost by making price tariffs contingent on achieving specified outcomes as well as incorporating performance payments or holdbacks based on outcomes achieved. This study provides a framework for price tariffs in the costing structures of South African private hospitals. Secondary research was conducted in the form of a comprehensive literature search in order to do an interpretative analysis of the strengths and weaknesses of the various combinations of unit costing models and price tariff payment models used to determine prices in private hospitals. The literature review was followed by primary research that involved three phases, all of which used a qualitative research approach. In Phase 1, primary data were collected using unobtrusive measures that consisted of a data request first, followed by unstructured interviews with representatives of Hospital A and Hospital B to obtain an analysis of the combinations of unit costing model and price tariff payment model used for a laparoscopic appendectomy. In Phase 2, data were collected by means of an unstructured interview with a surgeon describing a laparoscopic appendectomy procedure in detail and based on this process description, the approximate costs for the various resources that were sourced from different suppliers could be calculated. The data analysis and interpretation were done in three phases, with each phase having different research objectives. The data were first coded and then interpreted. In the first primary research phase, the combinations of unit costing models and price tariff payment models used by private Hospital A and Hospital B were evaluated. In the second phase, the recommended combination of unit costing model and price tariff payment model was applied to a hypothetical example and evaluated. In the final phase, based on the outcome of the first and second research phases, a combination of unit costing model and price tariff payment model for private hospitals was recommended. The results showed that the recommended combination of unit costing and price tariff payment model namely time-driven activity-based costing with the global fee price tariff payment model was the most appropriate to determine price tariffs in private hospitals when compared to the unit costing models and price tariff payment models used by Hospital A and Hospital B for a laparoscopic appendectomy. Furthermore, the recommended combination of unit costing model and price tariff payment model was found to be usable for the determination of price tariffs in the costing structures of private hospitals. The time-driven activity-based costing model and global fee price tariff payment model should be adopted or used as guidelines for determining price tariffs in private hospitals in South Africa. Price tariffs would be more transparent as they would reflect the actual resource cost of treating the patient and the resources used and treatment provided could then be assessed against the delivery value chain that charts the principal activities involved in a patient’s care for a medical condition to ensure that patient best-practice protocols are followed. The proposed framework enables the determination of price tariffs based on an accurate unit cost reflecting the actual resources used to provide efficient and effective care and also improve value for the patient.
- Full Text:
- Date Issued: 2020
A framework to implement social entrepreneurship activities in higher education institutions
- Authors: Tai Hing, Paul
- Date: 2017
- Subjects: Social entrepreneurship -- Education (Higher) -- South Africa Business enterprises -- Education (Higher) -- South Africa , Social responsibility of business -- Education (Higher) -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/15923 , vital:28291
- Description: The development of social enterprises are recognised by the broader community as an effective tool for addressing social problems. As a result, the development and emergence of social enterprise sectors have taken various paths in different geographic regions in the world. For the African context, the withdrawal of funding from the state as a result of external conditions imposed by foreign actors as well as the institutional support provided by foreign aid organisations were the key drivers behind the emergence of the social enterprise sector in Africa. Within the South African context, job creation and poverty alleviation are pressing priorities, both politically and economically, so providing an environment that is conducive for the development of social enterprises or social entrepreneurship. Implementing social entrepreneurship activities in higher education is important as universities are under increasing pressure to become responsive to student needs, and there is a growing scrutiny of their engagement, supportive, and economic role in local communities. By supporting local communities, institutions can broaden the student experience and create an economic impact. In addition, as the student experience entails more than curricular learning opportunities, social entrepreneurship practices are an important dimension for higher learning. This study used a series of case studies of social entrepreneurship projects that were implemented in the classroom of the first and second year Management students on the 2nd Avenue Campus of the Nelson Mandela Metropolitan University (NMMU). These case studies highlighted the possibilities of how classroom space and students can be utilised to set-up social enterprises to improve the conditions of the many disadvantaged and disenfranchised communities within which the university functions. At the same time, learning takes place through the practical application of the theory taught in the classroom. From the seven case studies highlighted in the study, a framework was developed to implement social entrepreneurship activities in the context of higher education. This framework includes five steps, namely, motivation and inspiration to develop social enterprises in the classroom, student involvement in creating and developing a product for sale, use of appropriate teaching strategies to provide the learning experience, provision of adequate mentoring and control of the social enterprises and, finally, assessment of the social enterprises. With the funds generated from the projects, communities benefited, for example, the upgrading of community facilities. Educators in higher education institutions are responsible for developing future business leaders. Given the increasing importance of social issues, especially poverty, this educational experience ensured that the students were made aware of the importance of using the powers yielded by business to solve some of these social issues, and thus contribute to the improvement of the South African economy. As a result, social entrepreneurship has a role to play in addressing social and economic issues. For example, the entrepreneurship part of the business will help to alleviate the unemployment strain placed upon the South African economy, whereas, the social part of the business will assist in alleviating poverty. Regarding the implementation of social entrepreneurship activities within the environment of higher education, it is evident from the case studies that successful social enterprises can be established within the classroom and sufficient funds generated to effect positive change within disadvantaged communities. Other higher education institutions in South Africa may find the implementation of social entrepreneurship activities more problematic as they might not possess a similar university culture as the NMMU.
- Full Text:
- Date Issued: 2017
- Authors: Tai Hing, Paul
- Date: 2017
- Subjects: Social entrepreneurship -- Education (Higher) -- South Africa Business enterprises -- Education (Higher) -- South Africa , Social responsibility of business -- Education (Higher) -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/15923 , vital:28291
- Description: The development of social enterprises are recognised by the broader community as an effective tool for addressing social problems. As a result, the development and emergence of social enterprise sectors have taken various paths in different geographic regions in the world. For the African context, the withdrawal of funding from the state as a result of external conditions imposed by foreign actors as well as the institutional support provided by foreign aid organisations were the key drivers behind the emergence of the social enterprise sector in Africa. Within the South African context, job creation and poverty alleviation are pressing priorities, both politically and economically, so providing an environment that is conducive for the development of social enterprises or social entrepreneurship. Implementing social entrepreneurship activities in higher education is important as universities are under increasing pressure to become responsive to student needs, and there is a growing scrutiny of their engagement, supportive, and economic role in local communities. By supporting local communities, institutions can broaden the student experience and create an economic impact. In addition, as the student experience entails more than curricular learning opportunities, social entrepreneurship practices are an important dimension for higher learning. This study used a series of case studies of social entrepreneurship projects that were implemented in the classroom of the first and second year Management students on the 2nd Avenue Campus of the Nelson Mandela Metropolitan University (NMMU). These case studies highlighted the possibilities of how classroom space and students can be utilised to set-up social enterprises to improve the conditions of the many disadvantaged and disenfranchised communities within which the university functions. At the same time, learning takes place through the practical application of the theory taught in the classroom. From the seven case studies highlighted in the study, a framework was developed to implement social entrepreneurship activities in the context of higher education. This framework includes five steps, namely, motivation and inspiration to develop social enterprises in the classroom, student involvement in creating and developing a product for sale, use of appropriate teaching strategies to provide the learning experience, provision of adequate mentoring and control of the social enterprises and, finally, assessment of the social enterprises. With the funds generated from the projects, communities benefited, for example, the upgrading of community facilities. Educators in higher education institutions are responsible for developing future business leaders. Given the increasing importance of social issues, especially poverty, this educational experience ensured that the students were made aware of the importance of using the powers yielded by business to solve some of these social issues, and thus contribute to the improvement of the South African economy. As a result, social entrepreneurship has a role to play in addressing social and economic issues. For example, the entrepreneurship part of the business will help to alleviate the unemployment strain placed upon the South African economy, whereas, the social part of the business will assist in alleviating poverty. Regarding the implementation of social entrepreneurship activities within the environment of higher education, it is evident from the case studies that successful social enterprises can be established within the classroom and sufficient funds generated to effect positive change within disadvantaged communities. Other higher education institutions in South Africa may find the implementation of social entrepreneurship activities more problematic as they might not possess a similar university culture as the NMMU.
- Full Text:
- Date Issued: 2017
A framework to incorporate sustainability into South African consumer protection policy
- Authors: Best, Laura Anne
- Date: 2017
- Subjects: Consumer protection -- Law and legislation -- South Africa Corporate governance -- Law and legislation , Business ethics Sustainability -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/14565 , vital:27766
- Description: Consumer protection policy measures can enable consumer behaviour shifts in favour of more sustainable choices. Whilst government is responsible for developing consumer protection policy in a particular country, business is central in the implementation of such policy. In South Africa, there is disassociation in consumer protection policy and environmental policy where consumer protection policy is the responsibility of the Department of Trade and Industry, whilst sustainability is located under the Department of Environmental Affairs. As a result, South African consumer protection policy does not holistically incorporate sustainability. A six-step qualitative research process was adopted to develop a framework to implement sustainability into consumer protection policies. First, a theoretical framework for incorporating sustainability into consumer protection policy was developed to structure the qualitative research. Four dimensions for incorporating sustainability into consumer protection were then identified. Qualitative data was collected using an open-ended questionnaire and also content analysis of existing data. Two sets of experts further reviewed and critiqued the proposed framework. The results of the qualitative enquiry, in particular, showed that for all the countries examined, some at least had sustainability consideration elements in their policies, but this was evident to a lesser extent in African countries, particularly those with less-developed economies. On the other hand, policy mechanisms that promoted sustainability were more evident in the policies and laws of developed countries. In the case of most African countries, basic needs were foregrounded as the primary concerns of consumers, ahead of sustainability concerns. Further, poverty limited consumer choices, particularly if more sustainably produced and eco-efficient goods came at a higher price. The research also underscored the importance and centrality of consumer education and stakeholder engagement for achieving sustainability policy intentions. It further confirmed that the basic needs of poor consumers in South Africa, and the impact of poverty on sustainability policy intentions must underpin the proposed framework. Factors that created an enabling environment for the implementation of the framework were identified as policy harmonisation within government policy domains, joined-up government, good corporate governance and shared value that considered the needs of future generations and consumer education. These factors would create an enabling environment for policy implementation. Consumer policy could play a key role in the choices that consumers make and, if well-designed and implemented, could direct consumer spending in support of the goal of sustainability and sustainable consumption. The proposed framework provides a foundation on which to futher refine and develop consumer protection policy that incorporates the well-being of consumers and social justice. Using consumer spending to drive sustainability requires a deliberate intention on the part of policy makers to move away from the more conventional framing of consumer policy, which has tended to focus on the economic interests of consumers, such as price, quality, choice and redress. However, modern business is shifting towards a more holistic conceptualisation of sustainability, as a value that needs to be deliberately and consciously built into the design and essence of a business. Doing so is not only good corporate citizenship, but offers a competitive advantage, which could drive product demand and attract consumers.
- Full Text:
- Date Issued: 2017
- Authors: Best, Laura Anne
- Date: 2017
- Subjects: Consumer protection -- Law and legislation -- South Africa Corporate governance -- Law and legislation , Business ethics Sustainability -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/14565 , vital:27766
- Description: Consumer protection policy measures can enable consumer behaviour shifts in favour of more sustainable choices. Whilst government is responsible for developing consumer protection policy in a particular country, business is central in the implementation of such policy. In South Africa, there is disassociation in consumer protection policy and environmental policy where consumer protection policy is the responsibility of the Department of Trade and Industry, whilst sustainability is located under the Department of Environmental Affairs. As a result, South African consumer protection policy does not holistically incorporate sustainability. A six-step qualitative research process was adopted to develop a framework to implement sustainability into consumer protection policies. First, a theoretical framework for incorporating sustainability into consumer protection policy was developed to structure the qualitative research. Four dimensions for incorporating sustainability into consumer protection were then identified. Qualitative data was collected using an open-ended questionnaire and also content analysis of existing data. Two sets of experts further reviewed and critiqued the proposed framework. The results of the qualitative enquiry, in particular, showed that for all the countries examined, some at least had sustainability consideration elements in their policies, but this was evident to a lesser extent in African countries, particularly those with less-developed economies. On the other hand, policy mechanisms that promoted sustainability were more evident in the policies and laws of developed countries. In the case of most African countries, basic needs were foregrounded as the primary concerns of consumers, ahead of sustainability concerns. Further, poverty limited consumer choices, particularly if more sustainably produced and eco-efficient goods came at a higher price. The research also underscored the importance and centrality of consumer education and stakeholder engagement for achieving sustainability policy intentions. It further confirmed that the basic needs of poor consumers in South Africa, and the impact of poverty on sustainability policy intentions must underpin the proposed framework. Factors that created an enabling environment for the implementation of the framework were identified as policy harmonisation within government policy domains, joined-up government, good corporate governance and shared value that considered the needs of future generations and consumer education. These factors would create an enabling environment for policy implementation. Consumer policy could play a key role in the choices that consumers make and, if well-designed and implemented, could direct consumer spending in support of the goal of sustainability and sustainable consumption. The proposed framework provides a foundation on which to futher refine and develop consumer protection policy that incorporates the well-being of consumers and social justice. Using consumer spending to drive sustainability requires a deliberate intention on the part of policy makers to move away from the more conventional framing of consumer policy, which has tended to focus on the economic interests of consumers, such as price, quality, choice and redress. However, modern business is shifting towards a more holistic conceptualisation of sustainability, as a value that needs to be deliberately and consciously built into the design and essence of a business. Doing so is not only good corporate citizenship, but offers a competitive advantage, which could drive product demand and attract consumers.
- Full Text:
- Date Issued: 2017
A theoretical model for successful management of revenue for beneficiary communities of renewable energy companies in South Africa
- Authors: Amansure, Ricardo Julian
- Date: 2017
- Subjects: Strategic planning -- South Africa , Social responsibility of business -- South Africa , Renewable energy sources -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/7408 , vital:21351
- Description: The Renewable Energy (RE) sector is one of the fastest growing new industries in the Republic of South Africa (RSA). The Bloomberg New Energy Finance Climate Scope Report recently ranked RSA third globally, behind China and Brazil, and first among African countries for investment in clean energy (Glickman, 2014). However, one of the main benefits to be derived from the industry, that of socio-economic and enterprise development, is not being achieved owing to unsuccessful management of revenue for beneficiary communities in the renewable energy sector in RSA. Challenges relating to good governance and long-term planning are causing significant harm to communities that are already vulnerable, and are threatening to have a negative effect on the industry’s ability to fulfil its obligation to alleviate and, ultimately, eradicate poverty in some of the poorest communities in RSA.The primary objective of this study is to develop a model for the successful management of revenue for beneficiary communities in the renewable energy sector in South Africa. The model will provide guidance for enterprises, stakeholders, industry experts and community development practitioners within the renewable energy sector towards a pro-active, effective, and relevant decision-making process to achieve success in managing revenue for beneficiary communities. To address the primary objective, a number of secondary objectives were established by developing a conceptual model comprising variables identified in a comprehensive survey of the related literature. A path diagram, based on the formulation of appropriate hypotheses, was constructed between the independent variable and subsequent intervening and dependent variables. Primary data sourced from the identified national and international population of project management practitioners were collected by means of an electronic measuring instrument. The data were analysed and tested empirically by means of Structural Equation Modelling (SEM). The determinants that were identified through a review of the literature as influencing the success of managing revenue for beneficiary communities of renewable energy companies in South Africa included: the use of outside advice, strategic financial services, strategic planning, strategic partnerships, infrastructure development and project management. In order to achieve the objective, the following research questions were formulated: What is the influence of external factors such as outside advisers and support services on the perceived success of managing revenue for beneficiary communities of renewable energy companies in South Africa? The purpose of this research, therefore, was to evaluate and recommend new methodologies to the renewable energy sector by introducing a model of perceived success in managing revenue for beneficiary communities of renewable energy companies in South Africa. The study provided new insight into managing revenue for beneficiary communities in RSA. With the renewable energy sector being one of the fastest growing sectors in the RSA, and the RSA Government being determined to link the location of renewable energy facilities to economic development, this research has given new insight into managing revenue for SED and ED. The objectives of multi-sector participation, transformational change and sustainable initiatives for beneficiary communities could ensure greater consideration and care when managing beneficiary revenue. Thereby, the opportunity presented by the RE industry for beneficiary communities can change these communities dramatically for the better. The study makes a valuable contribution to the body of knowledge about managing revenue for beneficiary communities. The proposed model has led to a better understanding of the determinants that influence the success of managing revenue for beneficiary communities, namely: distinctive benefits (a combination of two variables: outside advice and support services), financial management, developmental benefits (a combination of two variables: infrastructure development and education), human development, project management and strategic planning. The study has also opened up new avenues of research into this subject.
- Full Text:
- Date Issued: 2017
- Authors: Amansure, Ricardo Julian
- Date: 2017
- Subjects: Strategic planning -- South Africa , Social responsibility of business -- South Africa , Renewable energy sources -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/7408 , vital:21351
- Description: The Renewable Energy (RE) sector is one of the fastest growing new industries in the Republic of South Africa (RSA). The Bloomberg New Energy Finance Climate Scope Report recently ranked RSA third globally, behind China and Brazil, and first among African countries for investment in clean energy (Glickman, 2014). However, one of the main benefits to be derived from the industry, that of socio-economic and enterprise development, is not being achieved owing to unsuccessful management of revenue for beneficiary communities in the renewable energy sector in RSA. Challenges relating to good governance and long-term planning are causing significant harm to communities that are already vulnerable, and are threatening to have a negative effect on the industry’s ability to fulfil its obligation to alleviate and, ultimately, eradicate poverty in some of the poorest communities in RSA.The primary objective of this study is to develop a model for the successful management of revenue for beneficiary communities in the renewable energy sector in South Africa. The model will provide guidance for enterprises, stakeholders, industry experts and community development practitioners within the renewable energy sector towards a pro-active, effective, and relevant decision-making process to achieve success in managing revenue for beneficiary communities. To address the primary objective, a number of secondary objectives were established by developing a conceptual model comprising variables identified in a comprehensive survey of the related literature. A path diagram, based on the formulation of appropriate hypotheses, was constructed between the independent variable and subsequent intervening and dependent variables. Primary data sourced from the identified national and international population of project management practitioners were collected by means of an electronic measuring instrument. The data were analysed and tested empirically by means of Structural Equation Modelling (SEM). The determinants that were identified through a review of the literature as influencing the success of managing revenue for beneficiary communities of renewable energy companies in South Africa included: the use of outside advice, strategic financial services, strategic planning, strategic partnerships, infrastructure development and project management. In order to achieve the objective, the following research questions were formulated: What is the influence of external factors such as outside advisers and support services on the perceived success of managing revenue for beneficiary communities of renewable energy companies in South Africa? The purpose of this research, therefore, was to evaluate and recommend new methodologies to the renewable energy sector by introducing a model of perceived success in managing revenue for beneficiary communities of renewable energy companies in South Africa. The study provided new insight into managing revenue for beneficiary communities in RSA. With the renewable energy sector being one of the fastest growing sectors in the RSA, and the RSA Government being determined to link the location of renewable energy facilities to economic development, this research has given new insight into managing revenue for SED and ED. The objectives of multi-sector participation, transformational change and sustainable initiatives for beneficiary communities could ensure greater consideration and care when managing beneficiary revenue. Thereby, the opportunity presented by the RE industry for beneficiary communities can change these communities dramatically for the better. The study makes a valuable contribution to the body of knowledge about managing revenue for beneficiary communities. The proposed model has led to a better understanding of the determinants that influence the success of managing revenue for beneficiary communities, namely: distinctive benefits (a combination of two variables: outside advice and support services), financial management, developmental benefits (a combination of two variables: infrastructure development and education), human development, project management and strategic planning. The study has also opened up new avenues of research into this subject.
- Full Text:
- Date Issued: 2017
Accountability deficits in local government in South Africa: implications for social and economic development
- Authors: Sepogwane, Pheladi
- Date: 2019
- Subjects: Budget deficits -- South Africa , Local government -- South Africa Local government -- South Africa -- Evaluation South Africa -- Economic conditions Economic development
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/43424 , vital:36879
- Description: Local government faces require that spheres of government provide accountable, effective, transparent, and good governance. Yet local government face challenges that compel a need for mechanisms that will improve the accountability and effective management of municipal resources. There have been concerns among scholars that development is not being coordinated by an evenly powerful formation of fitting accountability regimes (Abata, 2012; Adenuga, 2013). For this reason, the study aims to investigate to what degree and how trends towards local government policymaking and implementation have been matched by correspondent changes and innovations in accountability regimes and practices. In keeping with the distinctions made above, it undertakes research on accountability practices in two domains of politics. It entails a systematic comparative empirical research on accountability regimes surrounding: the municipal mayors, committees and managers in regular policymaking, implementation and crisis management; evaluating the effectiveness of accountability regimes as catalysts of development programmes. The Researcher observed growing concerns on the issues of accountability. Hence an exploratory study on the issue based on qualitative research methodology was undertaken. The method of research is comprised of a case study, observation and interviews that were conducted. The accountability systems that were examined include the political, bureaucratic and professional accountability systems. Yet the two accountability mechanisms that were designed highlight the challenges in the dominance, abuse of powers, non-compliance with the code of conduct, the lack of exemplary behaviour and accountability deficits. The major conclusion that is drawn from the research study is that a multi-dimensional is required to ensure effective accountability systems in municipalities. The recommendations include the enforcement of the legal instruments, codes of conduct; the impartial prosecution of violators; implementing effective policies on training and personnel management and encouraging associations and stakeholders to play a catalytic role in enforcing accountability in municipalities.
- Full Text:
- Date Issued: 2019
- Authors: Sepogwane, Pheladi
- Date: 2019
- Subjects: Budget deficits -- South Africa , Local government -- South Africa Local government -- South Africa -- Evaluation South Africa -- Economic conditions Economic development
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/43424 , vital:36879
- Description: Local government faces require that spheres of government provide accountable, effective, transparent, and good governance. Yet local government face challenges that compel a need for mechanisms that will improve the accountability and effective management of municipal resources. There have been concerns among scholars that development is not being coordinated by an evenly powerful formation of fitting accountability regimes (Abata, 2012; Adenuga, 2013). For this reason, the study aims to investigate to what degree and how trends towards local government policymaking and implementation have been matched by correspondent changes and innovations in accountability regimes and practices. In keeping with the distinctions made above, it undertakes research on accountability practices in two domains of politics. It entails a systematic comparative empirical research on accountability regimes surrounding: the municipal mayors, committees and managers in regular policymaking, implementation and crisis management; evaluating the effectiveness of accountability regimes as catalysts of development programmes. The Researcher observed growing concerns on the issues of accountability. Hence an exploratory study on the issue based on qualitative research methodology was undertaken. The method of research is comprised of a case study, observation and interviews that were conducted. The accountability systems that were examined include the political, bureaucratic and professional accountability systems. Yet the two accountability mechanisms that were designed highlight the challenges in the dominance, abuse of powers, non-compliance with the code of conduct, the lack of exemplary behaviour and accountability deficits. The major conclusion that is drawn from the research study is that a multi-dimensional is required to ensure effective accountability systems in municipalities. The recommendations include the enforcement of the legal instruments, codes of conduct; the impartial prosecution of violators; implementing effective policies on training and personnel management and encouraging associations and stakeholders to play a catalytic role in enforcing accountability in municipalities.
- Full Text:
- Date Issued: 2019
An HRM model for enhancing psychological capital in South African organisations during a psychological recession
- Theron, Anthonie Van Straaten
- Authors: Theron, Anthonie Van Straaten
- Date: 2017
- Subjects: Industrial psychology Personnel management
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/20823 , vital:29404
- Description: The rationale behind this study was to identify various positive Human Resource Management (HRM) practices that contribute to the development and enhancement of psychological capital (PsyCap) during a psychological recession. A psychological recession, which is defined as a negative cognitive and emotional condition perpetuated by prolonged socio-economic hardships and amplified by the media, (Bardwick, 2008) could negatively affect employees’ PsyCap. While there has been no systematic study of the impact of various HRM practices on PsyCap (Gupta, 2013), a need existed to investigate and formulate best HRM practices for the development of employees’ PsyCap during a psychological recession. Furthermore, this study also aimed to investigate the potential buffering effect of HRM practices on the negative experiences and perceptions associated with a psychological recession. This research study took the form of a quantitative, cross-sectional design, using a composite questionnaire to measure personal vulnerability and exposure to the negative experiences associated with a psychological recession, the organisation’s application of various positive HRM practices, and employees’ levels of PsyCap. The target population consisted of all permanent and contract clinical and support staff employed at 43 fixed Primary Health Care (PHC) clinics situated in the West Rand District Municipality (WRDM) (n = 318). Exploratory factor analysis (EFA) was employed to determine the factor loadings on the overall scales and based on these factor loadings, main factors were extracted. Reliability analysis indicated that the newly structured measurement instruments would produce consistent results with continued application. The hypotheses were tested through the application of Pearson’s product moment correlation analysis, structural equation modelling (SEM), multiple regression analysis and a one-sample t-test. The empirical results indicated that all respondents included in the study experienced some degree of a psychological recession. Although significant correlations were uncovered between psychological recession and PsyCap, personal exposure and vulnerability with regards to organisational change and psychological uncertainty was identified as a major factor that negatively affected employees’ PsyCap. The inferential results identified competence development practices as a crucial intervention for the enhancement of PsyCap during a psychological recession. Lastly, the inferential results revealed that employee recognition and empowerment are fundamental practices in order to negate the negative impact of a psychological recession. Based on the results of this study, organisations have to proactively respond to a psychological recession by re-evaluating the effectiveness of their HRM actions and practices, in order to effectively enhance and maintain the PsyCap of their employees during a psychological recession.
- Full Text:
- Date Issued: 2017
- Authors: Theron, Anthonie Van Straaten
- Date: 2017
- Subjects: Industrial psychology Personnel management
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/20823 , vital:29404
- Description: The rationale behind this study was to identify various positive Human Resource Management (HRM) practices that contribute to the development and enhancement of psychological capital (PsyCap) during a psychological recession. A psychological recession, which is defined as a negative cognitive and emotional condition perpetuated by prolonged socio-economic hardships and amplified by the media, (Bardwick, 2008) could negatively affect employees’ PsyCap. While there has been no systematic study of the impact of various HRM practices on PsyCap (Gupta, 2013), a need existed to investigate and formulate best HRM practices for the development of employees’ PsyCap during a psychological recession. Furthermore, this study also aimed to investigate the potential buffering effect of HRM practices on the negative experiences and perceptions associated with a psychological recession. This research study took the form of a quantitative, cross-sectional design, using a composite questionnaire to measure personal vulnerability and exposure to the negative experiences associated with a psychological recession, the organisation’s application of various positive HRM practices, and employees’ levels of PsyCap. The target population consisted of all permanent and contract clinical and support staff employed at 43 fixed Primary Health Care (PHC) clinics situated in the West Rand District Municipality (WRDM) (n = 318). Exploratory factor analysis (EFA) was employed to determine the factor loadings on the overall scales and based on these factor loadings, main factors were extracted. Reliability analysis indicated that the newly structured measurement instruments would produce consistent results with continued application. The hypotheses were tested through the application of Pearson’s product moment correlation analysis, structural equation modelling (SEM), multiple regression analysis and a one-sample t-test. The empirical results indicated that all respondents included in the study experienced some degree of a psychological recession. Although significant correlations were uncovered between psychological recession and PsyCap, personal exposure and vulnerability with regards to organisational change and psychological uncertainty was identified as a major factor that negatively affected employees’ PsyCap. The inferential results identified competence development practices as a crucial intervention for the enhancement of PsyCap during a psychological recession. Lastly, the inferential results revealed that employee recognition and empowerment are fundamental practices in order to negate the negative impact of a psychological recession. Based on the results of this study, organisations have to proactively respond to a psychological recession by re-evaluating the effectiveness of their HRM actions and practices, in order to effectively enhance and maintain the PsyCap of their employees during a psychological recession.
- Full Text:
- Date Issued: 2017
An international comparative study on the relationship marketing and customer retention of retail banks : lessons for South Africa
- Authors: Rootman, Chantal
- Date: 2011
- Subjects: Banks and banking -- Customer services , Relationship marketing , Customer relations
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:9358 , http://hdl.handle.net/10948/1376 , Banks and banking -- Customer services , Relationship marketing , Customer relations
- Description: Despite the extensive research undertaken in the subject area of services marketing, much is still unknown to service providers of specific services in terms of firm-client relationships and how customer retention rates can be increased. This study attempts to address this limitation. The study revolves around the relationship marketing and customer retention of banks in South Africa, Canada and the United Kingdom (UK). Service firms, including banks, are vitally important to the economy of any country as they contribute to its Gross Domestic Product (GDP) (for example a 74 percent contribution in South Africa) and its employment rate. However, to survive in a complex, competitive business environment, service firms are required to focus on their clients’ needs. Banks can focus on their relationships with clients and measure their institutions’ success by considering their customer retention rates. When considering firm-client relationships and customer retention rates, it is important to gather and link the viewpoints of both clients and managers in order to ensure that firms perform according to clients’ needs. In order to establish the influence of selected variables on the relationship marketing and customer retention of banks, from the perspectives of both banking clients and managers, an empirical investigation was conducted. The primary aim of this study was to quantify significant relationships among selected variables; therefore the positivistic research paradigm was used. In addition, in designing the measuring instruments for the empirical investigation, the phenomenological paradigm was used. Thus, in order to use multiple sources of data, the strategy of methodological triangulation was adopted for this study. The samples consisted of banking clients and bank managers in South Africa, Canada and the UK. The empirical investigation conducted among banking clients revealed that significant positive relationships exist between six of the seven identified independent variables, namely communication, personalisation, empowerment, ethics, fees and technology, and banks’ relationship marketing. These relationships imply that, according to banking clients, if each of these aspects in banks improves, bank-client relationships would improve. The empirical investigation conducted among bank managers showed that managers only regard communication and fees as influencers of relationship marketing in banks. This result clearly indicated a difference in the viewpoints of banking clients and bank managers. In addition, the empirical investigation revealed that relationship marketing positively influences the customer retention of banks. This relationship implies that if a bank successfully maintains relationships with its clients, the bank’s customer retention rates will increase. Additionally, the empirical investigation revealed that the population group, education level and country of residence of banking client respondents exerted an influence on the perceptions clients have regarding banks’ relationship marketing and customer retention levels. If banking clients are African or are not educated with a qualification beyond secondary school level or are from Canada, they consider the relationship marketing of a bank to be more important and are more likely to be retained by banks. Generally, the study indicated that Canadian banking clients are more positive regarding the empowerment strategies and personalisation efforts of Canadian banks than South Africans are about those of South African banks. In addition, banking clients in the UK are more satisfied with the communication, fees and use of technology of UK banks than South Africans are about these aspects in South African banks. The study indicated that strategies to improve banks’ communication, personalisation, empowerment, ethics, fees and technology should be implemented by banks in ways to positively influence their relationship marketing and ultimately their customer retention. Strategies relating to each of these areas, successfully implemented by banks in Canada and the UK, are recommended to South African banks. In effect, these strategies will contribute to retail banks’ success, the competiveness in the banking industry, banking client benefits as well as the economic stability and prosperity of South Africa.
- Full Text:
- Date Issued: 2011
- Authors: Rootman, Chantal
- Date: 2011
- Subjects: Banks and banking -- Customer services , Relationship marketing , Customer relations
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:9358 , http://hdl.handle.net/10948/1376 , Banks and banking -- Customer services , Relationship marketing , Customer relations
- Description: Despite the extensive research undertaken in the subject area of services marketing, much is still unknown to service providers of specific services in terms of firm-client relationships and how customer retention rates can be increased. This study attempts to address this limitation. The study revolves around the relationship marketing and customer retention of banks in South Africa, Canada and the United Kingdom (UK). Service firms, including banks, are vitally important to the economy of any country as they contribute to its Gross Domestic Product (GDP) (for example a 74 percent contribution in South Africa) and its employment rate. However, to survive in a complex, competitive business environment, service firms are required to focus on their clients’ needs. Banks can focus on their relationships with clients and measure their institutions’ success by considering their customer retention rates. When considering firm-client relationships and customer retention rates, it is important to gather and link the viewpoints of both clients and managers in order to ensure that firms perform according to clients’ needs. In order to establish the influence of selected variables on the relationship marketing and customer retention of banks, from the perspectives of both banking clients and managers, an empirical investigation was conducted. The primary aim of this study was to quantify significant relationships among selected variables; therefore the positivistic research paradigm was used. In addition, in designing the measuring instruments for the empirical investigation, the phenomenological paradigm was used. Thus, in order to use multiple sources of data, the strategy of methodological triangulation was adopted for this study. The samples consisted of banking clients and bank managers in South Africa, Canada and the UK. The empirical investigation conducted among banking clients revealed that significant positive relationships exist between six of the seven identified independent variables, namely communication, personalisation, empowerment, ethics, fees and technology, and banks’ relationship marketing. These relationships imply that, according to banking clients, if each of these aspects in banks improves, bank-client relationships would improve. The empirical investigation conducted among bank managers showed that managers only regard communication and fees as influencers of relationship marketing in banks. This result clearly indicated a difference in the viewpoints of banking clients and bank managers. In addition, the empirical investigation revealed that relationship marketing positively influences the customer retention of banks. This relationship implies that if a bank successfully maintains relationships with its clients, the bank’s customer retention rates will increase. Additionally, the empirical investigation revealed that the population group, education level and country of residence of banking client respondents exerted an influence on the perceptions clients have regarding banks’ relationship marketing and customer retention levels. If banking clients are African or are not educated with a qualification beyond secondary school level or are from Canada, they consider the relationship marketing of a bank to be more important and are more likely to be retained by banks. Generally, the study indicated that Canadian banking clients are more positive regarding the empowerment strategies and personalisation efforts of Canadian banks than South Africans are about those of South African banks. In addition, banking clients in the UK are more satisfied with the communication, fees and use of technology of UK banks than South Africans are about these aspects in South African banks. The study indicated that strategies to improve banks’ communication, personalisation, empowerment, ethics, fees and technology should be implemented by banks in ways to positively influence their relationship marketing and ultimately their customer retention. Strategies relating to each of these areas, successfully implemented by banks in Canada and the UK, are recommended to South African banks. In effect, these strategies will contribute to retail banks’ success, the competiveness in the banking industry, banking client benefits as well as the economic stability and prosperity of South Africa.
- Full Text:
- Date Issued: 2011
An investigation of the link between Financial sector development and economic growth in Zimbabwe from 1980 -2016
- Authors: Machokoto, Sydney
- Date: 2020
- Subjects: Financial institutions-- Zimbambwe , Economic growth, development,planning -- Zimbabwe
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/49894 , vital:41814
- Description: This study investigated the link between financial sector development and economic growth in Zimbabwe from 1980 to 2016 using the Auto Regressive Distributed Lag model. Market capitalization as a ratio of gross domestic product (GDP), bank credit to the private sector as a ratio of GDP and financial assets of microfinance as a ratio of GDP were used as proxy variables for financial sector development. Economic growth was measured by real GDP. The Granger causality test indicated bi-directional causality between access to financial services and economic growth in Zimbabwe in the long run. Market capitalization and bank credit to the private sector did not Granger cause economic growth in Zimbabwe. It was recommended that the government should promote the functioning of the capital market as it is the conduit for providing long term capital to businesses. Bank credit to the private sector was found to be statistically significant. It was recommended that the government should promote decentralization of the banking sector to rural areas. The proxy variables of financial development used were statistically significant in influencing economic growth. The findings from the study led to the recommendation to open additional microfinance companies in remote areas and to increase the supply of financial services and products. Empirical evidence indicates that the link between financial development and economic growth depends on the proxy variables of financial sector development used in econometric modelling. The model was tested for heteroscedasticity, serial correlation, stability and normality. The econometric tests conducted were all satisfactory. This made the model ideal for policy formulation and recommendation.
- Full Text:
- Date Issued: 2020
- Authors: Machokoto, Sydney
- Date: 2020
- Subjects: Financial institutions-- Zimbambwe , Economic growth, development,planning -- Zimbabwe
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/49894 , vital:41814
- Description: This study investigated the link between financial sector development and economic growth in Zimbabwe from 1980 to 2016 using the Auto Regressive Distributed Lag model. Market capitalization as a ratio of gross domestic product (GDP), bank credit to the private sector as a ratio of GDP and financial assets of microfinance as a ratio of GDP were used as proxy variables for financial sector development. Economic growth was measured by real GDP. The Granger causality test indicated bi-directional causality between access to financial services and economic growth in Zimbabwe in the long run. Market capitalization and bank credit to the private sector did not Granger cause economic growth in Zimbabwe. It was recommended that the government should promote the functioning of the capital market as it is the conduit for providing long term capital to businesses. Bank credit to the private sector was found to be statistically significant. It was recommended that the government should promote decentralization of the banking sector to rural areas. The proxy variables of financial development used were statistically significant in influencing economic growth. The findings from the study led to the recommendation to open additional microfinance companies in remote areas and to increase the supply of financial services and products. Empirical evidence indicates that the link between financial development and economic growth depends on the proxy variables of financial sector development used in econometric modelling. The model was tested for heteroscedasticity, serial correlation, stability and normality. The econometric tests conducted were all satisfactory. This made the model ideal for policy formulation and recommendation.
- Full Text:
- Date Issued: 2020
Challenges of subsistence farming in South Africa: a case study of Emjkweni village in Eastern Cape Province
- Authors: Mngqinya, Yoliswa
- Date: 2019
- Subjects: Subsistence agriculture
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/44553 , vital:38142
- Description: Subsistence agriculture plays an important role in the livelihood of Africa’s rural population. Yet in many countries like South Africa, rather than seeing an upward projection of food production with an almost natural shift towards commercialising household production of food, the state of rural agriculture continues to go into decline. Since the advent of South Africa’s new dawn of democracy in 1994, agriculture has been the priority of government for the advancement of subsistence economy and rural development in rural communities. But progress in making a vibrant sustainable economy out of subsistence farming has remained stymied. At a time when there is a need to significantly increase the productivity of subsistence/smallholder agriculture and ensure long-term food security, rural subsistence farmers in the former bread basket of the Eastern Cape Province, have abandoned crop production. Characteristic of contemporary Eastern Cape’s rural landscape is the sight of large tracts of farm land lying uncultivated. Amidst a raging debate in South Africa on land the merits of the debate remain silent in the face of visibly idle crop land. This study has attempted to make a small incision into a growing body of knowledge on land reform with a view to and laying bare current challenges that keep rural folk out of the field, notwithstanding availability of land. Adopting multi-level research techniques, a purposive sample of 83 village respondents in eMjikweni was selected. Through a combination of face-to-face interviews using an open-ended interview instrument; focus group discussions and case studies, information was extracted from the sample to understand the current challenges of subsistence farming that make for poor household crop production, intensified dependence on social grants for income and growing food insecurity. Despite a conducive policy environment, the study findings suggest that as long as political will is absent, the formula for agrarian reform will remain incorrect, further entrenching rural poverty. As an exercise in social enquiry, the study employed a combination of quantitative and qualitative data analysis methods, while being careful to note how methodology impacts on the ability of respondents to narrate their lived experience, which, carefully crafted, can be valuable catalysts to a more bottom-up approach to rural development, sustainable agriculture and enhanced food security in the Eastern Cape. The merit of this study in making the said incision into a growing body of information on land reform is that it provides a glimpse into the life of a rural subsistence farmer. With the launch of the Presidential Panel Report on Land Reform (2019) a few days ago, the voice and experience of those who bear the brunt of land reform becomes critical. They are a people facing enormous challenges to restoring subsistence agriculture as a vibrant contributor to food security at household level and to reduced dependency on the state for its livelihood. They are a people who once created the “bread basket” of the Eastern Cape Province with a vibrant agricultural economy. They are a people who raise children to form part of the significant statistics of migrants to the economic hubs of Gauteng Province in particular in search of employment. They are a people who contribute significantly to the growing numbers of people dependent on the state for social grants. They are a people central to solving land reform for a better South Africa. It is based on their stories that this study’s findings argue for the revitalisation of the subsistence economies of rural communities which recognises the deeply entrenched socio-economic and geo-spatial transformations over time that make it quite complex to return to a past utopia. It is the premise of this thesis that the smallholder and subsistence agricultural sector has the potential to create job opportunities and promote local economic development in rural communities, which in turn would mitigate the triple challenge of poverty, unemployment and inequality facing South African society.
- Full Text:
- Date Issued: 2019
- Authors: Mngqinya, Yoliswa
- Date: 2019
- Subjects: Subsistence agriculture
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/44553 , vital:38142
- Description: Subsistence agriculture plays an important role in the livelihood of Africa’s rural population. Yet in many countries like South Africa, rather than seeing an upward projection of food production with an almost natural shift towards commercialising household production of food, the state of rural agriculture continues to go into decline. Since the advent of South Africa’s new dawn of democracy in 1994, agriculture has been the priority of government for the advancement of subsistence economy and rural development in rural communities. But progress in making a vibrant sustainable economy out of subsistence farming has remained stymied. At a time when there is a need to significantly increase the productivity of subsistence/smallholder agriculture and ensure long-term food security, rural subsistence farmers in the former bread basket of the Eastern Cape Province, have abandoned crop production. Characteristic of contemporary Eastern Cape’s rural landscape is the sight of large tracts of farm land lying uncultivated. Amidst a raging debate in South Africa on land the merits of the debate remain silent in the face of visibly idle crop land. This study has attempted to make a small incision into a growing body of knowledge on land reform with a view to and laying bare current challenges that keep rural folk out of the field, notwithstanding availability of land. Adopting multi-level research techniques, a purposive sample of 83 village respondents in eMjikweni was selected. Through a combination of face-to-face interviews using an open-ended interview instrument; focus group discussions and case studies, information was extracted from the sample to understand the current challenges of subsistence farming that make for poor household crop production, intensified dependence on social grants for income and growing food insecurity. Despite a conducive policy environment, the study findings suggest that as long as political will is absent, the formula for agrarian reform will remain incorrect, further entrenching rural poverty. As an exercise in social enquiry, the study employed a combination of quantitative and qualitative data analysis methods, while being careful to note how methodology impacts on the ability of respondents to narrate their lived experience, which, carefully crafted, can be valuable catalysts to a more bottom-up approach to rural development, sustainable agriculture and enhanced food security in the Eastern Cape. The merit of this study in making the said incision into a growing body of information on land reform is that it provides a glimpse into the life of a rural subsistence farmer. With the launch of the Presidential Panel Report on Land Reform (2019) a few days ago, the voice and experience of those who bear the brunt of land reform becomes critical. They are a people facing enormous challenges to restoring subsistence agriculture as a vibrant contributor to food security at household level and to reduced dependency on the state for its livelihood. They are a people who once created the “bread basket” of the Eastern Cape Province with a vibrant agricultural economy. They are a people who raise children to form part of the significant statistics of migrants to the economic hubs of Gauteng Province in particular in search of employment. They are a people who contribute significantly to the growing numbers of people dependent on the state for social grants. They are a people central to solving land reform for a better South Africa. It is based on their stories that this study’s findings argue for the revitalisation of the subsistence economies of rural communities which recognises the deeply entrenched socio-economic and geo-spatial transformations over time that make it quite complex to return to a past utopia. It is the premise of this thesis that the smallholder and subsistence agricultural sector has the potential to create job opportunities and promote local economic development in rural communities, which in turn would mitigate the triple challenge of poverty, unemployment and inequality facing South African society.
- Full Text:
- Date Issued: 2019
Commercial maritime higher education needs in South Africa
- Authors: Allison, Lee-Ann
- Date: 2020
- Subjects: Marine resources
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/47496 , vital:40117
- Description: Seaborne cargo trade accounts for over 80% of the physical volume of global trade. Maritime transport thus fulfills an integral function in the economy of the world. South Africa generates approximately 3.5% of the world’s seaborne trade by value and 1.61% by tonnage, but the business of shipping all that cargo is undertaken by foreign firms. Operation Phakisa, the Comprehensive Maritime Transport Policy, and the South African Maritime Road Map, in pursuance of the National Development Plan, aim to revive the commercial maritime sector. In order to meet the demand for the skills and innovative abilities sought at executive and managerial levels in the commercial maritime sector, higher education in the knowledge of maritime business is increasingly becoming a prerequisite. Investment in higher education of quality and relevance in the maritime field would contribute to achieving the goals of the government for harnessing the potential of South Africa’s blue economy. The literature is researched in order to establish an authoritative view that the knowledge and the inspiration for entrepreneurial activity in the maritime sector can be imparted through higher education; and for example, that a viable shipping sector can contribute to the growth of a country’s economy. The South African maritime sector is then described. The commercial maritime higher education available at universities and other institutions of higher learning in South Africa, as well as in other African countries and elsewhere in the world, is examined, in order to be able to identify the degree and diploma courses available. Maritime courses imply not only the content of the educational material, but also the method whereby the knowledge is instilled in learners, and which extends well beyond the classroom. A survey, by way of the personal interviews of leaders in maritime business, maritime government affairs, and academics teaching maritime topics, is then undertaken to ascertain their views on the education required to promote the maritime sector in South Africa, using the list of subjects available for study worldwide, to assist their choice. The literature research and the interview survey by design also enable the secondary aims of the study to be achieved. Those aims include determining how awareness of the maritime domain could be raised and how co-operation between academia, business, and government, known as the triple helix could be organized, to promote the growth of the maritime sector. The results of the survey are analyzed and tabulated, in order to illustrate the extent of the agreement between those interviewed and the conclusions reached. These conclusions establish: (i) that the commercial maritime education currently available in South Africa, is inadequate to meet the aim of the government to the sector; (ii) that a post-graduate degree iv in the specified maritime studies incorporating a period of internship, and following on the first degree in business subjects, is required; (iii) that a triple helix of co-operation between academia, business, and the government is essential to grow the commercial maritime sector in which South African entrepreneurs educated in such business will have the advantage; (iv) that greater awareness of the maritime domain is essential in South Africa if entrepreneurship in maritime business is to be cultivated; and (v)that such awareness can be cultivated in various ways; but it should start by including more maritime topics in the current school curricula.
- Full Text:
- Date Issued: 2020
- Authors: Allison, Lee-Ann
- Date: 2020
- Subjects: Marine resources
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/47496 , vital:40117
- Description: Seaborne cargo trade accounts for over 80% of the physical volume of global trade. Maritime transport thus fulfills an integral function in the economy of the world. South Africa generates approximately 3.5% of the world’s seaborne trade by value and 1.61% by tonnage, but the business of shipping all that cargo is undertaken by foreign firms. Operation Phakisa, the Comprehensive Maritime Transport Policy, and the South African Maritime Road Map, in pursuance of the National Development Plan, aim to revive the commercial maritime sector. In order to meet the demand for the skills and innovative abilities sought at executive and managerial levels in the commercial maritime sector, higher education in the knowledge of maritime business is increasingly becoming a prerequisite. Investment in higher education of quality and relevance in the maritime field would contribute to achieving the goals of the government for harnessing the potential of South Africa’s blue economy. The literature is researched in order to establish an authoritative view that the knowledge and the inspiration for entrepreneurial activity in the maritime sector can be imparted through higher education; and for example, that a viable shipping sector can contribute to the growth of a country’s economy. The South African maritime sector is then described. The commercial maritime higher education available at universities and other institutions of higher learning in South Africa, as well as in other African countries and elsewhere in the world, is examined, in order to be able to identify the degree and diploma courses available. Maritime courses imply not only the content of the educational material, but also the method whereby the knowledge is instilled in learners, and which extends well beyond the classroom. A survey, by way of the personal interviews of leaders in maritime business, maritime government affairs, and academics teaching maritime topics, is then undertaken to ascertain their views on the education required to promote the maritime sector in South Africa, using the list of subjects available for study worldwide, to assist their choice. The literature research and the interview survey by design also enable the secondary aims of the study to be achieved. Those aims include determining how awareness of the maritime domain could be raised and how co-operation between academia, business, and government, known as the triple helix could be organized, to promote the growth of the maritime sector. The results of the survey are analyzed and tabulated, in order to illustrate the extent of the agreement between those interviewed and the conclusions reached. These conclusions establish: (i) that the commercial maritime education currently available in South Africa, is inadequate to meet the aim of the government to the sector; (ii) that a post-graduate degree iv in the specified maritime studies incorporating a period of internship, and following on the first degree in business subjects, is required; (iii) that a triple helix of co-operation between academia, business, and the government is essential to grow the commercial maritime sector in which South African entrepreneurs educated in such business will have the advantage; (iv) that greater awareness of the maritime domain is essential in South Africa if entrepreneurship in maritime business is to be cultivated; and (v)that such awareness can be cultivated in various ways; but it should start by including more maritime topics in the current school curricula.
- Full Text:
- Date Issued: 2020
Consumer behaviour regarding stock market participation in South Africa
- Authors: Mbewe, Wise
- Date: 2020
- Subjects: Financial Literacy -- South Africa , Stock ownership -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/50328 , vital:42107
- Description: South Africa (SA) has a highly sophisticated financial services sector that contributes significantly to the economy. A stock market forms a significant component of the financial sector of any economy. While the Johannesburg Stock Exchange (JSE) has managed to arouse interest of many South Africans, there appears to be apathy and inertia when it comes to actual participation in the stock market by South African consumers. Stock market non-participation is considered a “puzzle” in microeconomics and finance literature because it is not easy to explain the reason why many consumers, in spite of high stock returns, do not own listed shares. Thus, the primary objective of this study was to investigate consumer behaviour regarding stock market participation in SA by considering the antecedents and outcomes of stock market participation in SA.The study presented a theoretical literature review on the factors influencing stock market participation in SA. From the literature review, three sets of variables classified as independent variables, an intervening variable and dependent variables were identified. The independent variables (Demographic characteristics; Financial literacy; Investment risk tolerance; Communication; and Consumer trust) were identified as possibly influencing the intervening variable (Stock market participation) and ultimately the dependent variables (Client satisfaction and loyalty, Financial sustainability and Repurchase intentions). These variables were used to construct a hypothesised model and research hypotheses. The study further presented the research methodology (following a positivistic paradigm and quantitative research method), and the results of this study. In order to establish the influence of the independent variables on stock market participation, as well as ultimate influences on the dependent variables, an empirical investigation was conducted. Since it was not possible to reach all members of the target population, the population of this study was South African consumers located in four of the nine provinces, namely, Eastern Cape, Western Cape, Kwa-Zulu Natal and Gauteng. A sample of 510 respondents participated in the study.
- Full Text:
- Date Issued: 2020
- Authors: Mbewe, Wise
- Date: 2020
- Subjects: Financial Literacy -- South Africa , Stock ownership -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/50328 , vital:42107
- Description: South Africa (SA) has a highly sophisticated financial services sector that contributes significantly to the economy. A stock market forms a significant component of the financial sector of any economy. While the Johannesburg Stock Exchange (JSE) has managed to arouse interest of many South Africans, there appears to be apathy and inertia when it comes to actual participation in the stock market by South African consumers. Stock market non-participation is considered a “puzzle” in microeconomics and finance literature because it is not easy to explain the reason why many consumers, in spite of high stock returns, do not own listed shares. Thus, the primary objective of this study was to investigate consumer behaviour regarding stock market participation in SA by considering the antecedents and outcomes of stock market participation in SA.The study presented a theoretical literature review on the factors influencing stock market participation in SA. From the literature review, three sets of variables classified as independent variables, an intervening variable and dependent variables were identified. The independent variables (Demographic characteristics; Financial literacy; Investment risk tolerance; Communication; and Consumer trust) were identified as possibly influencing the intervening variable (Stock market participation) and ultimately the dependent variables (Client satisfaction and loyalty, Financial sustainability and Repurchase intentions). These variables were used to construct a hypothesised model and research hypotheses. The study further presented the research methodology (following a positivistic paradigm and quantitative research method), and the results of this study. In order to establish the influence of the independent variables on stock market participation, as well as ultimate influences on the dependent variables, an empirical investigation was conducted. Since it was not possible to reach all members of the target population, the population of this study was South African consumers located in four of the nine provinces, namely, Eastern Cape, Western Cape, Kwa-Zulu Natal and Gauteng. A sample of 510 respondents participated in the study.
- Full Text:
- Date Issued: 2020
Customer relationship management in small to medium tourism enterprises (SMTEs) in the Eastern Cape Province
- Authors: Vallabh, Dinesh
- Date: 2014
- Subjects: Customer relations -- Management , Small business -- South Africa -- Eastern Cape , Tourism -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:9322 , http://hdl.handle.net/10948/d1020797
- Description: The role of entrepreneurship in small to medium tourism enterprises is well recognised and acknowledged as a significant contributor to economic development and employment opportunities. Worldwide, small to medium tourism enterprises play a dominant role in the tourism industry. These businesses are often vulnerable to external economic forces and find it increasingly difficult to transform their strategic and operational management to face the challenges placed upon them. This study focuses on small to medium tourism enterprises in the Eastern Cape Province, which is economically the poorest province of South Africa. To ensure the growth and sustainability of small to medium tourism enterprises, owners need to make efficient and effective business decisions regarding the challenges their businesses face. The study examines the factors impacting customer relationship management in the context of small to medium tourism enterprises in the Eastern Cape. Customer relationship management, that is, building relationships with customers, has become of pivotal importance to many organisations as businesses strive to be competitive and profitable. While large organisations practice customer relationship management to enable them to better target profitable customers, improve customer services, enhance customer retention and ultimately improve business performance, small businesses often need assistance in understanding and effecting this complex relationship. The factors that could impact customer relationship management in the organisations are the focus of this study. Three major factors were identified, namely, strategic, operational, and organisational factors. The study furthermore examined the extent to which these factors are present in the tourism and hospitality sector of the Eastern Cape and investigated the relationships between these factors. Quantitative research was deemed appropriate for this study. Systematic random sampling was employed to select a sample of 332 respondent organisations from the 2012 database of the Eastern Cape Parks and Tourism Agency consisting of formally registered small to medium tourism enterprises. A total of 310 usable questionnaires were finally obtained. Both descriptive and inferential statistics were used in the study. Descriptive statistics were computed to reflect the organisations‟ and respondent managers‟ general characteristics and to summarise their measurement scores. Using inferential statistics, the study further investigated relationships between customer relationship management factors, as well as demographic factors. Data were subjected to exploratory factor analysis and both the validity (refer to section 2.10.1) and reliability (refer to section 2.10.2) of the research instrument was assessed. The relationships between customer relationship management variables were also investigated (refer to section 2.11.4). The research results support an overall significant association between customer relationship management readiness and business strategy, customer strategy, touch points and competencies, skills and technology. Relationships were also explored among customer relationship management factors and demographic characteristics. Significant results were found between perceived business performance and the gender of managers, family businesses and gross annual turnover. The most salient contributions of this research can be summarised as follows. The overview of the importance of tourism and the role of small to medium enterprises in the tourism and hospitality industry of the Eastern Cape will benefit researchers and potential owners who have an interest in this sector. The study contributes to an improved understanding of the factors that should precede customer relationship management. The study established a profile of the small to medium tourism enterprises in the Eastern Cape which can serve as a basis for future research. A measuring instrument for assessing respondents‟ views on the existence of the strategic, operational and organisational factors in their organisations was developed. This instrument showed good internal validity and reliability and can serve as a basis for the same purpose in contexts other than the tourism and hospitality sector. This research has made a contribution toward a largely under-researched area concerning customer relationship management in small to medium enterprises. Recommendations for managers and consideration of future research included the following. Managers need to have a strategic vision and a strong customer-centric focus. Through understanding customers and their needs, offerings can be tailored to maximize the overall value of customers, thereby, improving business performance. Through efficient operational processes in place, enhanced customer service levels can be attained in the organisations. Managers need to effectively manage customer information through data warehousing and technology. Top management commitment is a crucial element for ensuring improved customer services. Managers need to train staff with respect to customer services, thus enhancing CRM. Future researchers can conduct a longitudinal study and investigate the same factors which could impact customer relationship management. A verification of the usefulness of the measuring instrument in examining the determinants of customer relationship management and the level of development regarding other small businesses is suggested. It is recommended that this study be replicated abroad in an effort to verify to what extent the determinants of customer relationship management are evident in small businesses of other countries.
- Full Text:
- Date Issued: 2014
- Authors: Vallabh, Dinesh
- Date: 2014
- Subjects: Customer relations -- Management , Small business -- South Africa -- Eastern Cape , Tourism -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:9322 , http://hdl.handle.net/10948/d1020797
- Description: The role of entrepreneurship in small to medium tourism enterprises is well recognised and acknowledged as a significant contributor to economic development and employment opportunities. Worldwide, small to medium tourism enterprises play a dominant role in the tourism industry. These businesses are often vulnerable to external economic forces and find it increasingly difficult to transform their strategic and operational management to face the challenges placed upon them. This study focuses on small to medium tourism enterprises in the Eastern Cape Province, which is economically the poorest province of South Africa. To ensure the growth and sustainability of small to medium tourism enterprises, owners need to make efficient and effective business decisions regarding the challenges their businesses face. The study examines the factors impacting customer relationship management in the context of small to medium tourism enterprises in the Eastern Cape. Customer relationship management, that is, building relationships with customers, has become of pivotal importance to many organisations as businesses strive to be competitive and profitable. While large organisations practice customer relationship management to enable them to better target profitable customers, improve customer services, enhance customer retention and ultimately improve business performance, small businesses often need assistance in understanding and effecting this complex relationship. The factors that could impact customer relationship management in the organisations are the focus of this study. Three major factors were identified, namely, strategic, operational, and organisational factors. The study furthermore examined the extent to which these factors are present in the tourism and hospitality sector of the Eastern Cape and investigated the relationships between these factors. Quantitative research was deemed appropriate for this study. Systematic random sampling was employed to select a sample of 332 respondent organisations from the 2012 database of the Eastern Cape Parks and Tourism Agency consisting of formally registered small to medium tourism enterprises. A total of 310 usable questionnaires were finally obtained. Both descriptive and inferential statistics were used in the study. Descriptive statistics were computed to reflect the organisations‟ and respondent managers‟ general characteristics and to summarise their measurement scores. Using inferential statistics, the study further investigated relationships between customer relationship management factors, as well as demographic factors. Data were subjected to exploratory factor analysis and both the validity (refer to section 2.10.1) and reliability (refer to section 2.10.2) of the research instrument was assessed. The relationships between customer relationship management variables were also investigated (refer to section 2.11.4). The research results support an overall significant association between customer relationship management readiness and business strategy, customer strategy, touch points and competencies, skills and technology. Relationships were also explored among customer relationship management factors and demographic characteristics. Significant results were found between perceived business performance and the gender of managers, family businesses and gross annual turnover. The most salient contributions of this research can be summarised as follows. The overview of the importance of tourism and the role of small to medium enterprises in the tourism and hospitality industry of the Eastern Cape will benefit researchers and potential owners who have an interest in this sector. The study contributes to an improved understanding of the factors that should precede customer relationship management. The study established a profile of the small to medium tourism enterprises in the Eastern Cape which can serve as a basis for future research. A measuring instrument for assessing respondents‟ views on the existence of the strategic, operational and organisational factors in their organisations was developed. This instrument showed good internal validity and reliability and can serve as a basis for the same purpose in contexts other than the tourism and hospitality sector. This research has made a contribution toward a largely under-researched area concerning customer relationship management in small to medium enterprises. Recommendations for managers and consideration of future research included the following. Managers need to have a strategic vision and a strong customer-centric focus. Through understanding customers and their needs, offerings can be tailored to maximize the overall value of customers, thereby, improving business performance. Through efficient operational processes in place, enhanced customer service levels can be attained in the organisations. Managers need to effectively manage customer information through data warehousing and technology. Top management commitment is a crucial element for ensuring improved customer services. Managers need to train staff with respect to customer services, thus enhancing CRM. Future researchers can conduct a longitudinal study and investigate the same factors which could impact customer relationship management. A verification of the usefulness of the measuring instrument in examining the determinants of customer relationship management and the level of development regarding other small businesses is suggested. It is recommended that this study be replicated abroad in an effort to verify to what extent the determinants of customer relationship management are evident in small businesses of other countries.
- Full Text:
- Date Issued: 2014
Employee talent management in the Uganda health sector: a public institutions perspective
- Authors: Nakato, Jamidah
- Date: 2019
- Subjects: Employee retention -- Uganda , Leadership -- Uganda Executives -- Training of Executive ability
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/41751 , vital:36578
- Description: Globally, talent management has been acknowledged as a prime source of employee attraction and retention as well as organisational performance and commitment. Although the health sector plays an important role in the economic development of any country, in Uganda, the management of talented employees still remains a challenge. In this country, many institutions have not incorporated and adopted suitable talent management strategies, thus compromising access to and quality of care. A hypothetical model and measuring instruments were developed to investigate the factors contributing to and the benefits of effective employee talent management in the Ugandan health sector. The following ten independent variables that have the prospect of influencing effective talent management (intervening variable) were identified on the basis of organisational, management and personal factors: talent pool, organisational support, work conditions, social and work environment, reward system, leadership styles, career development, supervisor support, employee engagement and employee personality. In this study, it was also postulated that talent management has potential to effect the dependent variables, namely, talent attraction, employee retention, organisational performance and organisational commitment. In total, fourteen hypotheses were formulated to test relationships between independent, intervening and dependent variables. The study utilised the quantitative research paradigm in order to seek employee perceptions regarding public institutions within the health sector, in Uganda’s Central region. Using stratified random sampling, a sample of 910 participants was drawn from the identified population. A survey was conducted with the aid of a structured, selfadministered questionnaire that was distributed to the seven categories of hospitals and health centres in Central Uganda; 910 questionnaires were distributed to doctors, consultants, dentists, dispensers, nurses, pharmacists, clinical officers, laboratory staff, occupational therapists, allied health staff, environmental health officers, general administrative cadres, cold chain technicians and support staff. Of these, 655 were useable, which indicates a 71% response rate. The data collected was captured and analysed using various statistical analysis techniques. The study findings reveal that organisational support, employee satisfaction, an enabling work environment, a stable working environment and career development effectively influence talent management. However, management in health sector institutions need to realise the importance of facilitating and monitoring job autonomy and personal values in order to effectively enhance talent management. The study results further reveal that talent management has a positive influence on employee retention and holistic development for organisational performance. For optimal talent management, the study recommends that organisations pay attention to cultivating an enabling and stable work environment that is suitable for motivating employees towards improved performance and work commitment. Therefore, health sector management should focus on potential, and not only on performance, by matching individuals with the right positions that can expose their capabilities and potential. It was further recommended that organisations need to accept and show confidence in their employees by allowing them freedom in carrying out their tasks. In addition, it was highlighted that ascertaining and utilising information about the values and principles that employees hold can help explain their behaviours and attitudes at work. This would increase the chances of talented employees realising their full potential and competencies in their jobs. Therefore, this study found that there is a need for public institutions within the health sector to focus on supporting employees by offering a well-defined career development programme, which caters for the needs of individuals and which acts as an incentive for the recruitment of qualified employees. Thus, management will succeed in retaining, attracting and maintaining talented individuals who can perform well. In order to uphold the expected ethical behaviour of conducting research, the researcher obtained approval and ethics clearance from Nelson Mandela University, permission to conduct the study from the Ugandan Ministry of Health, and communicated all the information relevant to the study to the participants.
- Full Text:
- Date Issued: 2019
- Authors: Nakato, Jamidah
- Date: 2019
- Subjects: Employee retention -- Uganda , Leadership -- Uganda Executives -- Training of Executive ability
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/41751 , vital:36578
- Description: Globally, talent management has been acknowledged as a prime source of employee attraction and retention as well as organisational performance and commitment. Although the health sector plays an important role in the economic development of any country, in Uganda, the management of talented employees still remains a challenge. In this country, many institutions have not incorporated and adopted suitable talent management strategies, thus compromising access to and quality of care. A hypothetical model and measuring instruments were developed to investigate the factors contributing to and the benefits of effective employee talent management in the Ugandan health sector. The following ten independent variables that have the prospect of influencing effective talent management (intervening variable) were identified on the basis of organisational, management and personal factors: talent pool, organisational support, work conditions, social and work environment, reward system, leadership styles, career development, supervisor support, employee engagement and employee personality. In this study, it was also postulated that talent management has potential to effect the dependent variables, namely, talent attraction, employee retention, organisational performance and organisational commitment. In total, fourteen hypotheses were formulated to test relationships between independent, intervening and dependent variables. The study utilised the quantitative research paradigm in order to seek employee perceptions regarding public institutions within the health sector, in Uganda’s Central region. Using stratified random sampling, a sample of 910 participants was drawn from the identified population. A survey was conducted with the aid of a structured, selfadministered questionnaire that was distributed to the seven categories of hospitals and health centres in Central Uganda; 910 questionnaires were distributed to doctors, consultants, dentists, dispensers, nurses, pharmacists, clinical officers, laboratory staff, occupational therapists, allied health staff, environmental health officers, general administrative cadres, cold chain technicians and support staff. Of these, 655 were useable, which indicates a 71% response rate. The data collected was captured and analysed using various statistical analysis techniques. The study findings reveal that organisational support, employee satisfaction, an enabling work environment, a stable working environment and career development effectively influence talent management. However, management in health sector institutions need to realise the importance of facilitating and monitoring job autonomy and personal values in order to effectively enhance talent management. The study results further reveal that talent management has a positive influence on employee retention and holistic development for organisational performance. For optimal talent management, the study recommends that organisations pay attention to cultivating an enabling and stable work environment that is suitable for motivating employees towards improved performance and work commitment. Therefore, health sector management should focus on potential, and not only on performance, by matching individuals with the right positions that can expose their capabilities and potential. It was further recommended that organisations need to accept and show confidence in their employees by allowing them freedom in carrying out their tasks. In addition, it was highlighted that ascertaining and utilising information about the values and principles that employees hold can help explain their behaviours and attitudes at work. This would increase the chances of talented employees realising their full potential and competencies in their jobs. Therefore, this study found that there is a need for public institutions within the health sector to focus on supporting employees by offering a well-defined career development programme, which caters for the needs of individuals and which acts as an incentive for the recruitment of qualified employees. Thus, management will succeed in retaining, attracting and maintaining talented individuals who can perform well. In order to uphold the expected ethical behaviour of conducting research, the researcher obtained approval and ethics clearance from Nelson Mandela University, permission to conduct the study from the Ugandan Ministry of Health, and communicated all the information relevant to the study to the participants.
- Full Text:
- Date Issued: 2019
Enhancing the role of the Kaizen suggestion tool in South African lean automotive companies of the Eastern Cape
- Authors: Adedeji, Adeyemi Charles
- Date: 2011
- Subjects: Lean manufacturing , Manufacturing processes , Production management -- Mathematical models
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:8644 , http://hdl.handle.net/10948/d1008157 , Lean manufacturing , Manufacturing processes , Production management -- Mathematical models
- Description: The Toyota manufacturing system, aptly referred to as Lean manufacturing, has received a reasonable appreciation and awareness over the past decade in South African industry. This production phenomenon constitutes an organizational culture that encourages world-class production success through the liberation of factory resources, while employees are empowered and encouraged to contribute ideas for the improvement of processes and products. However, despite lean awareness and the crucial role of employee participation in the suggestion of ideas in world-class organizations, the performance level of lean manufacturing in South African industry is largely devoid of the Kaizen suggestion tool, particularly in the automotive companies of the Eastern Cape. The aim of this research was to proffer appropriate recommendations, improved awareness, understanding and practice for the improvement of the Kaizen suggestion principle in the automotive companies of the Eastern Cape. The research primarily focused on the ‘management/employees’ paradigm within the organisational context. The methodology employed in the study included a thorough review of the relevant literature and a questionnaire, which was developed and administered to both the management and employees of the thirty automotive components suppliers in Eastern Cape. The target companies constituted the units of analyses and therefore provided the opportunity for a detailed investigation of the links between management and employees as well as a submission of ideas for operational and organisational processes as established in the literature review. Epistemologically, the research is objectivist and paradigmically, positivist. However, some qualitative aspects of the data were relevant to the study and, therefore, were used in a complementary manner. The case approach utilized mixed methods by applying a range of data collection techniques and evidence from multiple sources while the sampling technique was sequential, involving both purposive and stratified random sampling. The study reveals the apparent lack of a systematic mechanism for the practice and administration of the Kaizen suggestion tools in most Eastern Cape automotive companies. This demerit is found to have negatively affected maximum employee participation and involvement in organizational decision making within the Province. The study has established a basic level of awareness and understanding among employees / employers relations that the Kaizen suggestion scheme is a vital tool for delivering strategic objectives in the management of decision making and organizational growth. The study strongly advocates the inclusion of employee suggestion systems as part of the organizational process.
- Full Text:
- Date Issued: 2011
- Authors: Adedeji, Adeyemi Charles
- Date: 2011
- Subjects: Lean manufacturing , Manufacturing processes , Production management -- Mathematical models
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:8644 , http://hdl.handle.net/10948/d1008157 , Lean manufacturing , Manufacturing processes , Production management -- Mathematical models
- Description: The Toyota manufacturing system, aptly referred to as Lean manufacturing, has received a reasonable appreciation and awareness over the past decade in South African industry. This production phenomenon constitutes an organizational culture that encourages world-class production success through the liberation of factory resources, while employees are empowered and encouraged to contribute ideas for the improvement of processes and products. However, despite lean awareness and the crucial role of employee participation in the suggestion of ideas in world-class organizations, the performance level of lean manufacturing in South African industry is largely devoid of the Kaizen suggestion tool, particularly in the automotive companies of the Eastern Cape. The aim of this research was to proffer appropriate recommendations, improved awareness, understanding and practice for the improvement of the Kaizen suggestion principle in the automotive companies of the Eastern Cape. The research primarily focused on the ‘management/employees’ paradigm within the organisational context. The methodology employed in the study included a thorough review of the relevant literature and a questionnaire, which was developed and administered to both the management and employees of the thirty automotive components suppliers in Eastern Cape. The target companies constituted the units of analyses and therefore provided the opportunity for a detailed investigation of the links between management and employees as well as a submission of ideas for operational and organisational processes as established in the literature review. Epistemologically, the research is objectivist and paradigmically, positivist. However, some qualitative aspects of the data were relevant to the study and, therefore, were used in a complementary manner. The case approach utilized mixed methods by applying a range of data collection techniques and evidence from multiple sources while the sampling technique was sequential, involving both purposive and stratified random sampling. The study reveals the apparent lack of a systematic mechanism for the practice and administration of the Kaizen suggestion tools in most Eastern Cape automotive companies. This demerit is found to have negatively affected maximum employee participation and involvement in organizational decision making within the Province. The study has established a basic level of awareness and understanding among employees / employers relations that the Kaizen suggestion scheme is a vital tool for delivering strategic objectives in the management of decision making and organizational growth. The study strongly advocates the inclusion of employee suggestion systems as part of the organizational process.
- Full Text:
- Date Issued: 2011
Evaluating the development potential of extractive sector corporate social investments in Cameroon: Case of the oil & gas and mining sub sectors
- Jong, Yungong Theophilus, Cherry, Janet
- Authors: Jong, Yungong Theophilus , Cherry, Janet
- Date: 2017
- Subjects: Social responsibility of business -- Cameroon , Business ethics -- Cameroon Gold mines and mining -- Social aspects -- Cameroon Petroleum industry and trade -- Cameroon -- Finance
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/13370 , vital:27179
- Description: This study set out to evaluate the development potential of extractive sector corporate social investments (CSI) in Cameroon. It does this by evaluating the extent to which extractive companies effectively integrate CSI in their business operations and how this can be improved upon for more effective development outcomes in the country. The study premises that CSI can contribute to development but its activities will not always amount to just, balanced and sustainable development outcomes. To understand the extent to which it does, this study develops and applies a framework for determining the applicability and effectiveness of extractive sector CSI practices. The research followed an interpretivist philosophical orientation. A case study research strategy with the elements of a survey research was used. It also implemented a mixed research methods approach and relied on both primary and secondary data sources. The CSI evaluation process used documentary survey techniques and content analysis of corporate social responsibility-related documentation provided by extractive companies and other sector stakeholders. This was triangulated with an expert survey as well as a survey of major development organisations to understand the opinion of the external environment that should shape CSI practices. Results were analysed, discussed and synthesised using the front-end, mid-phase and back-end criteria for evaluating CSI integration. Findings show significant level of adherence to the discretionary idea of CSI among extractive firms working in Cameroon. This is due partly to growing social responsibility awareness among extractive firms around the world and the consequence of inaction. The greater majority of companies however, do not show strong proof of well thought out CSI implementation strategies. The feeling among experts is that extractive sector CSI in Cameroon is failing. It is predominantly self-regulated by extractive companies which raise questions regarding objective and credible CSI practices. The study concludes that CSI has been implemented in ad-hoc, haphazard and un-systematic ways. It has a viable potential to contribute to development but still suffers from a very weak CSI enabling environment as well as the challenges of sustainable development. Extractive sector CSI therefore, still needs to be significantly reworked to enhance its potential in contributing to just, balanced and sustainable development in Cameroon. It is recommended that an enabling environment be put in place through CSI promotional activities in the country.
- Full Text:
- Date Issued: 2017
- Authors: Jong, Yungong Theophilus , Cherry, Janet
- Date: 2017
- Subjects: Social responsibility of business -- Cameroon , Business ethics -- Cameroon Gold mines and mining -- Social aspects -- Cameroon Petroleum industry and trade -- Cameroon -- Finance
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/13370 , vital:27179
- Description: This study set out to evaluate the development potential of extractive sector corporate social investments (CSI) in Cameroon. It does this by evaluating the extent to which extractive companies effectively integrate CSI in their business operations and how this can be improved upon for more effective development outcomes in the country. The study premises that CSI can contribute to development but its activities will not always amount to just, balanced and sustainable development outcomes. To understand the extent to which it does, this study develops and applies a framework for determining the applicability and effectiveness of extractive sector CSI practices. The research followed an interpretivist philosophical orientation. A case study research strategy with the elements of a survey research was used. It also implemented a mixed research methods approach and relied on both primary and secondary data sources. The CSI evaluation process used documentary survey techniques and content analysis of corporate social responsibility-related documentation provided by extractive companies and other sector stakeholders. This was triangulated with an expert survey as well as a survey of major development organisations to understand the opinion of the external environment that should shape CSI practices. Results were analysed, discussed and synthesised using the front-end, mid-phase and back-end criteria for evaluating CSI integration. Findings show significant level of adherence to the discretionary idea of CSI among extractive firms working in Cameroon. This is due partly to growing social responsibility awareness among extractive firms around the world and the consequence of inaction. The greater majority of companies however, do not show strong proof of well thought out CSI implementation strategies. The feeling among experts is that extractive sector CSI in Cameroon is failing. It is predominantly self-regulated by extractive companies which raise questions regarding objective and credible CSI practices. The study concludes that CSI has been implemented in ad-hoc, haphazard and un-systematic ways. It has a viable potential to contribute to development but still suffers from a very weak CSI enabling environment as well as the challenges of sustainable development. Extractive sector CSI therefore, still needs to be significantly reworked to enhance its potential in contributing to just, balanced and sustainable development in Cameroon. It is recommended that an enabling environment be put in place through CSI promotional activities in the country.
- Full Text:
- Date Issued: 2017
Factors affecting strategy implementation in state corparations in Kenya
- Authors: Kiboi, Anne Wanjiru
- Date: 2014
- Subjects: Government corporations -- Kenya , Strategic planning -- Kenya , Industrial management -- Kenya
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:9326 , http://hdl.handle.net/10948/d1020963
- Description: The purpose of this study was to develop and empirically test a hypothetical model of factors impacting strategy implementation in state Corporations in Kenya in order to establish their statistical significance. To achieve effectiveness and efficiency in strategy implementation in state corporations, change is needed. Due to the rapid changing global environment and increasing demand for service delivery, continuous change is needed. Changes have been taking place in the Kenyan state corporations since 2003 and this has been as a result of corporate strategy implementation. However it is not enough to develop a good strategy, good strategies can fail during implementation. The state corporations in Kenya, like in most countries in Sub-Saharan Africa, have been characterised by slow and bureaucratic processes that retard corporation‟s performance. Employees and managers in these corporations have been perceived as not performing as they should. Kenyan state corporations are important to the economy of the country. They provide social and essential services to the Kenyan population. There is therefore a need to investigate ways to improve strategy implementation in state corporations, collectively viewed in this study as factors affecting strategy implementation. The study investigated and analysed how the independent variables (internal-, market- and external) impact strategy implementation (dependent variable). The study reviewed literature in the areas of internal-, market- and external factors supported by Louw and Venter‟s (2006), the planning context environmental scan (2010), Zaribaf and Hamid‟s drivers for implementation outcomes (2010), and the Nortel network external environment (2010) models as presented in section 1.5 of chapter one. The hypothetical model developed was based on the models mentioned. The study sought to establish the perceptions of Kenyan state corporation‟s managers and utilised the quantitative research paradigm. A survey was conducted using a self-administered questionnaire distributed to managers in state corporations in Kenya. The final sample comprised 485 respondents. Data was collected between October, 2012 and February 2013, that is, a period of five months. The returned questionnaires were subjected to several statistical analyses. The validity of the measuring instrument was ascertained using exploratory factor analysis. The Cronbach‟s alpha values for reliability were calculated for each of the factors identified during the exploratory factor analysis. In this study, correlation and exploratory factor analysis, the KMO measure of sample adequacy, Bartlett‟s test of sphericity, Kolmogorov-Smirnov test for normality, multi-colinearity diagnostic and regressions were the main statistical procedures used to test the appropriateness of data, correlation and significance of the relationships hypothesised between the various independent and dependent variables. The study identified twelve independent variables as significantly impacting the strategy implementation (dependent variable) of state corporations in Kenya. Five statistical significant relationships were found between the internal factors: organisational structure, human resources, financial resources, leadership, communication and strategy implementation in state corporations in Kenya. Three statistical significant relationships were found between the market factors: customers, suppliers, labour market and strategy implementation in state corporations in Kenya. Four statistical significant relationships were found between the external factors: social-cultural, technology, ecological, global forces and strategy implementation in state corporations in Kenya. The study also found three statistically insignificant variables. It was found that managers in state corporations in Kenya should be encouraged to study and clearly understand the culture of their state corporations in order for them to believe that organisational culture could have a significant impact on strategy implementation and that the culture of their corporation needs to be compatible with the strategy being implemented, because where there is incompatibility between strategy and culture, it can lead to high organisational resistance to change. The managers should also be made to understand that organisational culture shapes employees behaviour, guides strategic decisions and accommodates proposed changes and that When culture influences the actions of employees to support current strategy, implementation is strengthened. Managers should strive to achieve competitive advantage by offering distinctive or unique products or services that clearly add value to the customers. They should be made aware that the strategies of competitors who offer unique service to the customers could derail their strategy implementation. State corporation managers should acknowledge that severe competition results in pressure on prices, margins and profitability for all state corporations. There is a need for managers to ensure that the state corporation strategies are supported and aligned with government policies, directives and programmes. They should actively lobby with government to enact good policies and directives that support strategy implementation. The study has provided general guidelines at internal environmental level on how to implement strategies effectively and efficiently in state corporations in Kenya. Furthermore, general operational guidelines at market level for improving strategy implementation have been given for such corporations to become and remain competitive in the global market place. The study has also highlighted general guidelines regarding managing external environmental factors to assist in improving strategy implementation in state corporations in Kenya.
- Full Text:
- Date Issued: 2014
- Authors: Kiboi, Anne Wanjiru
- Date: 2014
- Subjects: Government corporations -- Kenya , Strategic planning -- Kenya , Industrial management -- Kenya
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:9326 , http://hdl.handle.net/10948/d1020963
- Description: The purpose of this study was to develop and empirically test a hypothetical model of factors impacting strategy implementation in state Corporations in Kenya in order to establish their statistical significance. To achieve effectiveness and efficiency in strategy implementation in state corporations, change is needed. Due to the rapid changing global environment and increasing demand for service delivery, continuous change is needed. Changes have been taking place in the Kenyan state corporations since 2003 and this has been as a result of corporate strategy implementation. However it is not enough to develop a good strategy, good strategies can fail during implementation. The state corporations in Kenya, like in most countries in Sub-Saharan Africa, have been characterised by slow and bureaucratic processes that retard corporation‟s performance. Employees and managers in these corporations have been perceived as not performing as they should. Kenyan state corporations are important to the economy of the country. They provide social and essential services to the Kenyan population. There is therefore a need to investigate ways to improve strategy implementation in state corporations, collectively viewed in this study as factors affecting strategy implementation. The study investigated and analysed how the independent variables (internal-, market- and external) impact strategy implementation (dependent variable). The study reviewed literature in the areas of internal-, market- and external factors supported by Louw and Venter‟s (2006), the planning context environmental scan (2010), Zaribaf and Hamid‟s drivers for implementation outcomes (2010), and the Nortel network external environment (2010) models as presented in section 1.5 of chapter one. The hypothetical model developed was based on the models mentioned. The study sought to establish the perceptions of Kenyan state corporation‟s managers and utilised the quantitative research paradigm. A survey was conducted using a self-administered questionnaire distributed to managers in state corporations in Kenya. The final sample comprised 485 respondents. Data was collected between October, 2012 and February 2013, that is, a period of five months. The returned questionnaires were subjected to several statistical analyses. The validity of the measuring instrument was ascertained using exploratory factor analysis. The Cronbach‟s alpha values for reliability were calculated for each of the factors identified during the exploratory factor analysis. In this study, correlation and exploratory factor analysis, the KMO measure of sample adequacy, Bartlett‟s test of sphericity, Kolmogorov-Smirnov test for normality, multi-colinearity diagnostic and regressions were the main statistical procedures used to test the appropriateness of data, correlation and significance of the relationships hypothesised between the various independent and dependent variables. The study identified twelve independent variables as significantly impacting the strategy implementation (dependent variable) of state corporations in Kenya. Five statistical significant relationships were found between the internal factors: organisational structure, human resources, financial resources, leadership, communication and strategy implementation in state corporations in Kenya. Three statistical significant relationships were found between the market factors: customers, suppliers, labour market and strategy implementation in state corporations in Kenya. Four statistical significant relationships were found between the external factors: social-cultural, technology, ecological, global forces and strategy implementation in state corporations in Kenya. The study also found three statistically insignificant variables. It was found that managers in state corporations in Kenya should be encouraged to study and clearly understand the culture of their state corporations in order for them to believe that organisational culture could have a significant impact on strategy implementation and that the culture of their corporation needs to be compatible with the strategy being implemented, because where there is incompatibility between strategy and culture, it can lead to high organisational resistance to change. The managers should also be made to understand that organisational culture shapes employees behaviour, guides strategic decisions and accommodates proposed changes and that When culture influences the actions of employees to support current strategy, implementation is strengthened. Managers should strive to achieve competitive advantage by offering distinctive or unique products or services that clearly add value to the customers. They should be made aware that the strategies of competitors who offer unique service to the customers could derail their strategy implementation. State corporation managers should acknowledge that severe competition results in pressure on prices, margins and profitability for all state corporations. There is a need for managers to ensure that the state corporation strategies are supported and aligned with government policies, directives and programmes. They should actively lobby with government to enact good policies and directives that support strategy implementation. The study has provided general guidelines at internal environmental level on how to implement strategies effectively and efficiently in state corporations in Kenya. Furthermore, general operational guidelines at market level for improving strategy implementation have been given for such corporations to become and remain competitive in the global market place. The study has also highlighted general guidelines regarding managing external environmental factors to assist in improving strategy implementation in state corporations in Kenya.
- Full Text:
- Date Issued: 2014
Financial development in the SADC: growth and cross-country spatial spill-over effects
- Authors: Bara, Alex
- Date: 2017
- Subjects: Economic development -- South Africa Economic assistance -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/14950 , vital:27943
- Description: This study was prompted by the prevailing imbalance in financial development across SADC countries, which is not consistent with the linkages and interconnectedness of financial systems of these economies. South Africa is the most financially developed country in Africa, yet it is surrounded by economies with relatively small and underdeveloped financial systems, contrary to the spatial proximity theory in finance. The study performed a number of empirical estimations in respect of the spatiality of financial development, motivated by the intention to assess the growth and spatial spill-over effects of financial development in SADC. The study provides new information in spatial spill-over dynamics of financial development, which could inform policy development particularly in view of the on-going financial integration in the SADC region. The study also contributes to regional economic development in SADC from a finance perspective. The analysis was performed using annual data for all the 15 SADC countries, spanning for the period 1985 to 2014. Using the Generalised Method of Moments approach, the study finds that financial development does not support economic growth in SADC. Financial reforms were found to be insufficient to drive growth. A bi-directional causality between financial development and economic growth was established with causality being strong when flowing from economic growth to financial development. The extended Aghion, Howitt and Mayer-Foulkes Model, estimated by an Autoregressive Distributive Lag approach, established that financial innovation has a positive relation to economic growth in SADC, particularly in the long-run. There is no causality, in either direction, between financial innovation and economic growth in both the short and long-run. The Spatial Durbin Model reveals a presence of positive spatial effects on financial development in the region and that proximity to South Africa yields consistent effects of spatial externality in money markets and inconsistent spatial externality in credit markets. The monetary union has no influence on spatial dynamics of financial development in SADC. The generalised impulse response analysis of a Bayesian VAR model indicate that shocks in South Africa’s financial sector has positive, but constrained and in some cases weak, financial spill-over effects on both economic growth and financial development of other SADC countries. The study established, using the Herfindahl-Hirschman Index, a high level of financial market concentration for SADC, cantered in South Africa, and a fair distribution when South Africa is excluded. Dynamic panel models established that financial market concentration reduces financial development in SADC. South Africa’s financial development has mixed and opposing effects on financial market concentration in SADC. The findings also show that international finance has a positive, but currently weak, effect on financial development in SADC and countries with international financial centres contribute more to financial development than countries without. Proximity to South Africa creates huge potential for increasing financial development in SADC through spill-overs and more benefits of spatial proximity are realised in the long-run. Given the strong spatial effects in money markets and significant positive spill-overs in credit markets in the region, countries closer to South Africa need to link their money and credit markets to the South African markets and possibly benchmark to the Rand so as to benefit from proximity and spill-overs from South Africa. The results also suggest that SADC countries need to capitalise on their proximity to South Africa to enhance financial development by promoting economic growth, financial innovation, opening and diversification of financial sectors and linkages to global financial markets. Financial innovation supports financial inclusion, cross-border flows of funds, remittances and trade in SADC and has effects of enabling integration with developed markets and facilitating economic activity. Opening financial sectors enhances diversification of financial systems, increases competition and efficiency. To enhance access to international finance, the study suggests the creation of information centres in South Africa with SADC countries as economic hinterlands, commercialisation of solutions to SADC countries financial challenges, financial integration and support for deepening of financial systems in these countries. Strengthening economic growth could also increase financial development given a strong demand-following causality. The major challenge, however, is that some of the SADC countries have underdeveloped and highly concentrated financial systems characterised by high financial intermediation inefficiencies, high financial exclusion, weak financial infrastructure and regulations. Consequently, countries suffer financial leakages, are not receptive to spatial externalities and financial spill-overs from South Africa and often generate financial spillbacks to South Africa. SADC countries should, however, first address the issue of financial exclusion, financial infrastructure and regulation as well as efficiency in the financial markets. The SADC countries need mechanisms to attract financial development from South Africa to benefit from positive spill-overs and instruments to deal with negative externalities of financial shocks in South Africa. Overall, there is potential for increased financial development in SADC by consolidating absorption of positive financial spill-overs and externalities of proximity to South Africa -particularly in the medium to long term. Heterogeneity among SADC countries and the varying levels of financial development, however, dictates that the region should promote financial integration in order to enhance development of underdeveloped financial systems through spatial spill-over gains.
- Full Text:
- Date Issued: 2017
- Authors: Bara, Alex
- Date: 2017
- Subjects: Economic development -- South Africa Economic assistance -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/14950 , vital:27943
- Description: This study was prompted by the prevailing imbalance in financial development across SADC countries, which is not consistent with the linkages and interconnectedness of financial systems of these economies. South Africa is the most financially developed country in Africa, yet it is surrounded by economies with relatively small and underdeveloped financial systems, contrary to the spatial proximity theory in finance. The study performed a number of empirical estimations in respect of the spatiality of financial development, motivated by the intention to assess the growth and spatial spill-over effects of financial development in SADC. The study provides new information in spatial spill-over dynamics of financial development, which could inform policy development particularly in view of the on-going financial integration in the SADC region. The study also contributes to regional economic development in SADC from a finance perspective. The analysis was performed using annual data for all the 15 SADC countries, spanning for the period 1985 to 2014. Using the Generalised Method of Moments approach, the study finds that financial development does not support economic growth in SADC. Financial reforms were found to be insufficient to drive growth. A bi-directional causality between financial development and economic growth was established with causality being strong when flowing from economic growth to financial development. The extended Aghion, Howitt and Mayer-Foulkes Model, estimated by an Autoregressive Distributive Lag approach, established that financial innovation has a positive relation to economic growth in SADC, particularly in the long-run. There is no causality, in either direction, between financial innovation and economic growth in both the short and long-run. The Spatial Durbin Model reveals a presence of positive spatial effects on financial development in the region and that proximity to South Africa yields consistent effects of spatial externality in money markets and inconsistent spatial externality in credit markets. The monetary union has no influence on spatial dynamics of financial development in SADC. The generalised impulse response analysis of a Bayesian VAR model indicate that shocks in South Africa’s financial sector has positive, but constrained and in some cases weak, financial spill-over effects on both economic growth and financial development of other SADC countries. The study established, using the Herfindahl-Hirschman Index, a high level of financial market concentration for SADC, cantered in South Africa, and a fair distribution when South Africa is excluded. Dynamic panel models established that financial market concentration reduces financial development in SADC. South Africa’s financial development has mixed and opposing effects on financial market concentration in SADC. The findings also show that international finance has a positive, but currently weak, effect on financial development in SADC and countries with international financial centres contribute more to financial development than countries without. Proximity to South Africa creates huge potential for increasing financial development in SADC through spill-overs and more benefits of spatial proximity are realised in the long-run. Given the strong spatial effects in money markets and significant positive spill-overs in credit markets in the region, countries closer to South Africa need to link their money and credit markets to the South African markets and possibly benchmark to the Rand so as to benefit from proximity and spill-overs from South Africa. The results also suggest that SADC countries need to capitalise on their proximity to South Africa to enhance financial development by promoting economic growth, financial innovation, opening and diversification of financial sectors and linkages to global financial markets. Financial innovation supports financial inclusion, cross-border flows of funds, remittances and trade in SADC and has effects of enabling integration with developed markets and facilitating economic activity. Opening financial sectors enhances diversification of financial systems, increases competition and efficiency. To enhance access to international finance, the study suggests the creation of information centres in South Africa with SADC countries as economic hinterlands, commercialisation of solutions to SADC countries financial challenges, financial integration and support for deepening of financial systems in these countries. Strengthening economic growth could also increase financial development given a strong demand-following causality. The major challenge, however, is that some of the SADC countries have underdeveloped and highly concentrated financial systems characterised by high financial intermediation inefficiencies, high financial exclusion, weak financial infrastructure and regulations. Consequently, countries suffer financial leakages, are not receptive to spatial externalities and financial spill-overs from South Africa and often generate financial spillbacks to South Africa. SADC countries should, however, first address the issue of financial exclusion, financial infrastructure and regulation as well as efficiency in the financial markets. The SADC countries need mechanisms to attract financial development from South Africa to benefit from positive spill-overs and instruments to deal with negative externalities of financial shocks in South Africa. Overall, there is potential for increased financial development in SADC by consolidating absorption of positive financial spill-overs and externalities of proximity to South Africa -particularly in the medium to long term. Heterogeneity among SADC countries and the varying levels of financial development, however, dictates that the region should promote financial integration in order to enhance development of underdeveloped financial systems through spatial spill-over gains.
- Full Text:
- Date Issued: 2017
Financial integration in the BRICS countries
- Authors: Nach, Marida Nephertiti
- Date: 2020
- Subjects: Autogression (Statistics) -- mathematical models , Monetary policy -- Econometric models
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/50609 , vital:42278
- Description: An optimum currency area (OCA) owes its definition to Robert Mundell (1961). In his seminal paper, Mundell (1961) defines an OCA as an area for which the costs of relinquishing the exchange rate as an internal instrument of adjustments are outweighed by the benefits of adopting a single currency or a fixed exchange rate regime. Mundell (1961) emphasises two major benefits of adopting a single currency: the elimination of transaction costs and a better performance of money as a medium of exchange and as a unit of account. Thus far, OCA theory has served as the framework for the discussion about monetary integration and has provided an explanation for the monetary integration processes around the world both developed and developing countries in Europe, Asia, Africa, and Latin America. The emergence of the BRICS (Brazil, Russia, India, China, South Africa) countries can be a model and a representation of developing and emerging countries in the global economic and financial system. Hence, this has made the BRICS economies the object of many discussions and recent empirical researches. The research presented in this thesis uses a structural vector autoregression (SVAR) econometric model to explore whether there is a feasibility of macroeconomic convergence among the BRICS economies. The SVAR model permitted to examine the symmetry of shocks (supply, demand and monetary) among the five BRICS countries. The findings of this research showed that there was some degree of symmetry of shocks among the BRICS countries. Nevertheless, there is a need for more policy coordination in order to achieve the desired level of symmetry of shocks among these countries.
- Full Text:
- Date Issued: 2020
- Authors: Nach, Marida Nephertiti
- Date: 2020
- Subjects: Autogression (Statistics) -- mathematical models , Monetary policy -- Econometric models
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/50609 , vital:42278
- Description: An optimum currency area (OCA) owes its definition to Robert Mundell (1961). In his seminal paper, Mundell (1961) defines an OCA as an area for which the costs of relinquishing the exchange rate as an internal instrument of adjustments are outweighed by the benefits of adopting a single currency or a fixed exchange rate regime. Mundell (1961) emphasises two major benefits of adopting a single currency: the elimination of transaction costs and a better performance of money as a medium of exchange and as a unit of account. Thus far, OCA theory has served as the framework for the discussion about monetary integration and has provided an explanation for the monetary integration processes around the world both developed and developing countries in Europe, Asia, Africa, and Latin America. The emergence of the BRICS (Brazil, Russia, India, China, South Africa) countries can be a model and a representation of developing and emerging countries in the global economic and financial system. Hence, this has made the BRICS economies the object of many discussions and recent empirical researches. The research presented in this thesis uses a structural vector autoregression (SVAR) econometric model to explore whether there is a feasibility of macroeconomic convergence among the BRICS economies. The SVAR model permitted to examine the symmetry of shocks (supply, demand and monetary) among the five BRICS countries. The findings of this research showed that there was some degree of symmetry of shocks among the BRICS countries. Nevertheless, there is a need for more policy coordination in order to achieve the desired level of symmetry of shocks among these countries.
- Full Text:
- Date Issued: 2020
Financing sustainable cities in South Africa
- Authors: Ducie, Gregory Justin
- Date: 2017
- Subjects: Sustainable development -- South Africa , Cities and towns -- South Africa -- Economic conditions Finance -- South Africa Developing countries -- Economic conditions
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/15577 , vital:28273
- Description: Although directives exist with respect to promoting sustainable development, financial strategies to cater for collective sustainable development, along with an increasing population, need to be formulated relevant to metropolitan and urban areas. This study determined the infrastructure investment basis of a sustainable city to investigate various funding mechanisms resulting in the design of a model for the financing of sustainable cities. For the study, first the various infrastructure investment alternatives were established from the literature, and thirteen themes and their relevant interventions were identified. Tangible and intangible methods of assessment were then identified as ways to calculate the acceptability of an intervention. A case study based on a hypothetical city was developed to determine the infrastructure investment base. Initially, only one intervention of a theme was populated and then confirmed by city development experts. Thereafter, all the themes were populated, and the acceptability of the interventions were determined. This provided an overview of the investment base of a sustainable city. The investment base facilitated deriving applicable tools and instruments to finance it. As a result, possible finance alternatives were derived for each of the identified themes. Although most of the financing of sustainable cities revolved around public sector finance, the private sector also played an important role for the financing of sustainable cities. Based on the investment base for sustainable cities and the resultant financing thereof, a model for the financing of sustainable cities was developed. The model consisted of four components. Firstly, the model included an application of financing tools and instruments relevant to the identified themes of sustainable city development. Secondly, the model included the application of financing tools and instruments with respect to an immediate interventionist focus, a facilitative focus, a gradual intervention and an enabling intervention. Thirdly, the model included financing tools and instrument types in terms of incentive, opportunity, punitive and mandatory interventions. Fourthly, the model included the application of financing tools and instruments with respect to scale in terms of a city-wide application, sector-wide application, urban application or suburban application. In addition, the model included the application of financing tools and instruments and their relation to addressing poverty within the city context. Although the public sector will always remain the key initiator behind infrastructure development, various mechanisms of financing, along with applicable financing partners and the basis of investment, are required to address future sustainable cities. This study may potentially form the basis of that platform.
- Full Text:
- Date Issued: 2017
- Authors: Ducie, Gregory Justin
- Date: 2017
- Subjects: Sustainable development -- South Africa , Cities and towns -- South Africa -- Economic conditions Finance -- South Africa Developing countries -- Economic conditions
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/15577 , vital:28273
- Description: Although directives exist with respect to promoting sustainable development, financial strategies to cater for collective sustainable development, along with an increasing population, need to be formulated relevant to metropolitan and urban areas. This study determined the infrastructure investment basis of a sustainable city to investigate various funding mechanisms resulting in the design of a model for the financing of sustainable cities. For the study, first the various infrastructure investment alternatives were established from the literature, and thirteen themes and their relevant interventions were identified. Tangible and intangible methods of assessment were then identified as ways to calculate the acceptability of an intervention. A case study based on a hypothetical city was developed to determine the infrastructure investment base. Initially, only one intervention of a theme was populated and then confirmed by city development experts. Thereafter, all the themes were populated, and the acceptability of the interventions were determined. This provided an overview of the investment base of a sustainable city. The investment base facilitated deriving applicable tools and instruments to finance it. As a result, possible finance alternatives were derived for each of the identified themes. Although most of the financing of sustainable cities revolved around public sector finance, the private sector also played an important role for the financing of sustainable cities. Based on the investment base for sustainable cities and the resultant financing thereof, a model for the financing of sustainable cities was developed. The model consisted of four components. Firstly, the model included an application of financing tools and instruments relevant to the identified themes of sustainable city development. Secondly, the model included the application of financing tools and instruments with respect to an immediate interventionist focus, a facilitative focus, a gradual intervention and an enabling intervention. Thirdly, the model included financing tools and instrument types in terms of incentive, opportunity, punitive and mandatory interventions. Fourthly, the model included the application of financing tools and instruments with respect to scale in terms of a city-wide application, sector-wide application, urban application or suburban application. In addition, the model included the application of financing tools and instruments and their relation to addressing poverty within the city context. Although the public sector will always remain the key initiator behind infrastructure development, various mechanisms of financing, along with applicable financing partners and the basis of investment, are required to address future sustainable cities. This study may potentially form the basis of that platform.
- Full Text:
- Date Issued: 2017