Testing random walk hypothesis in the stock market prices: evidence from South Africa's stock exchange (2000- 2011)
- Chitenderu, Tafadzwa Thelmah
- Authors: Chitenderu, Tafadzwa Thelmah
- Date: 2013
- Subjects: Johannesburg Stock Exchange , Stock exchanges -- South Africa -- Johannesburg , Random walks (Mathematics)
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11461 , http://hdl.handle.net/10353/d1006931 , Johannesburg Stock Exchange , Stock exchanges -- South Africa -- Johannesburg , Random walks (Mathematics)
- Description: The Johannesburg Stock Exchange market was tested for the existence of the random walk hypothesis using All Share Index (ALSI) and time series data for the period between 2000 and 2011. The traditionally used methods, the unit root tests and autocorrelation test were employed first and they all confirmed that during the period under consideration, the JSE price index followed the random walk process. In addition, the ARIMA model was built and it was found that the ARIMA ( 1, 1, 1) was the model that best fitted the data in question. Furthermore, residual tests to help determine whether the residuals of the estimated equation show random walk process in the series were done. It was found that the ALSI resembles series that follow random walk hypothesis with strong evidence of RWH indicated in the conducted forecasting tests which showed vast variance between forecasted values and actual indicating little or no forecasting strength in the series. To further validate the findings in this research, the variance ratio test was conducted under heteroscedasticity and it also strongly corroborated that the existence of a random walk process cannot be rejected in the JSE. It was concluded that since the returns follow the random walk hypothesis, it can be said that JSE is efficient in the weak form level of the EMH and therefore opportunities of making excess returns based on out- performing the market is ruled out and is merely a game of chance. In other words, it will be of no use to choose stocks based on information about recent trends in stock prices.
- Full Text:
- Date Issued: 2013
- Authors: Chitenderu, Tafadzwa Thelmah
- Date: 2013
- Subjects: Johannesburg Stock Exchange , Stock exchanges -- South Africa -- Johannesburg , Random walks (Mathematics)
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11461 , http://hdl.handle.net/10353/d1006931 , Johannesburg Stock Exchange , Stock exchanges -- South Africa -- Johannesburg , Random walks (Mathematics)
- Description: The Johannesburg Stock Exchange market was tested for the existence of the random walk hypothesis using All Share Index (ALSI) and time series data for the period between 2000 and 2011. The traditionally used methods, the unit root tests and autocorrelation test were employed first and they all confirmed that during the period under consideration, the JSE price index followed the random walk process. In addition, the ARIMA model was built and it was found that the ARIMA ( 1, 1, 1) was the model that best fitted the data in question. Furthermore, residual tests to help determine whether the residuals of the estimated equation show random walk process in the series were done. It was found that the ALSI resembles series that follow random walk hypothesis with strong evidence of RWH indicated in the conducted forecasting tests which showed vast variance between forecasted values and actual indicating little or no forecasting strength in the series. To further validate the findings in this research, the variance ratio test was conducted under heteroscedasticity and it also strongly corroborated that the existence of a random walk process cannot be rejected in the JSE. It was concluded that since the returns follow the random walk hypothesis, it can be said that JSE is efficient in the weak form level of the EMH and therefore opportunities of making excess returns based on out- performing the market is ruled out and is merely a game of chance. In other words, it will be of no use to choose stocks based on information about recent trends in stock prices.
- Full Text:
- Date Issued: 2013
The determinants of corporate entrepreneurship for firms in adventure tourism sector in the Eastern Cape Province: South Africa
- Authors: Chigamba, Cleopas
- Date: 2013
- Subjects: Organizational change -- Management , Entrepreneurship , Industrial management
- Language: English
- Type: Thesis , Masters , M Com (Business Management)
- Identifier: vital:11326 , http://hdl.handle.net/10353/d1015312 , Organizational change -- Management , Entrepreneurship , Industrial management
- Description: Tourism has been acknowledged for the past decade as one of the leading driving forces for economic development in post-apartheid South Africa (Nel & Binns, 2002:189). The objective of this study was to investigate the determinants of corporate entrepreneurship for firms in adventure tourism sector in the Eastern Cape Province; South Africa. The population for the study were firms registered with the Nelson Mandela Bay Tourism Portal (NMBT) and the Dirty Boot Adventure South Africa. Convenience sampling method was used. Data was collected through the use of a self-administered questionnaire. For the purpose of data collection, one hundred and fourteen questions were identified through a thorough review of the literature. Principal component analysis was used to reduce the one hundred and fourteen questions to twelve factors namely: flat organisational structure, management support for intrapreneurship, vision and strategic intent, rewards / reinforcement and sponsorship, innovativeness and creativity, multi-disciplined teamwork and diversity, entrepreneurial leadership, resources and time, strong customer orientation, continuous cross-functional learning, tolerance of risk, mistakes and failure and work discretion and discretionary time. Data was analysed using descriptive statistics, Pearson’s correlation, T-test and ANOVA. Cohen`s (d-value) was used to measure the effect size of differences for t-statistics. The Cronbach’s alpha was used to test the reliability of the scales. The results showed significant positive relationships between the twelve factors and corporate entrepreneurship. Recommendations included an integrated framework that could assist adventure tour operator to establish and sustain corporate entrepreneurship within this sector.
- Full Text:
- Date Issued: 2013
- Authors: Chigamba, Cleopas
- Date: 2013
- Subjects: Organizational change -- Management , Entrepreneurship , Industrial management
- Language: English
- Type: Thesis , Masters , M Com (Business Management)
- Identifier: vital:11326 , http://hdl.handle.net/10353/d1015312 , Organizational change -- Management , Entrepreneurship , Industrial management
- Description: Tourism has been acknowledged for the past decade as one of the leading driving forces for economic development in post-apartheid South Africa (Nel & Binns, 2002:189). The objective of this study was to investigate the determinants of corporate entrepreneurship for firms in adventure tourism sector in the Eastern Cape Province; South Africa. The population for the study were firms registered with the Nelson Mandela Bay Tourism Portal (NMBT) and the Dirty Boot Adventure South Africa. Convenience sampling method was used. Data was collected through the use of a self-administered questionnaire. For the purpose of data collection, one hundred and fourteen questions were identified through a thorough review of the literature. Principal component analysis was used to reduce the one hundred and fourteen questions to twelve factors namely: flat organisational structure, management support for intrapreneurship, vision and strategic intent, rewards / reinforcement and sponsorship, innovativeness and creativity, multi-disciplined teamwork and diversity, entrepreneurial leadership, resources and time, strong customer orientation, continuous cross-functional learning, tolerance of risk, mistakes and failure and work discretion and discretionary time. Data was analysed using descriptive statistics, Pearson’s correlation, T-test and ANOVA. Cohen`s (d-value) was used to measure the effect size of differences for t-statistics. The Cronbach’s alpha was used to test the reliability of the scales. The results showed significant positive relationships between the twelve factors and corporate entrepreneurship. Recommendations included an integrated framework that could assist adventure tour operator to establish and sustain corporate entrepreneurship within this sector.
- Full Text:
- Date Issued: 2013
The effect of perceived organisational support and organisational commitment on turnover intention among academic staff at the University of Fort Hare
- Authors: Xabiso Ngabase
- Date: 2013
- Subjects: Employee assistance programs -- South Africa -- Eastern Cape , Employee competitive behavior -- South Africa -- Eastern Cape , Employee empowerment -- South Africa -- Eastern Cape , Employee loyalty -- South Africa -- Eastern Cape , Employee morale -- South Africa -- Eastern Cape , Employee motivation -- South Africa -- Eastern Cape , Employees -- Training of -- South Africa -- Eastern Cape , Labor turnover -- South Africa -- Eastern Cape , Universities and colleges -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MCom (Industrial Psychology)
- Identifier: vital:11555 , http://hdl.handle.net/10353/d1007110 , Employee assistance programs -- South Africa -- Eastern Cape , Employee competitive behavior -- South Africa -- Eastern Cape , Employee empowerment -- South Africa -- Eastern Cape , Employee loyalty -- South Africa -- Eastern Cape , Employee morale -- South Africa -- Eastern Cape , Employee motivation -- South Africa -- Eastern Cape , Employees -- Training of -- South Africa -- Eastern Cape , Labor turnover -- South Africa -- Eastern Cape , Universities and colleges -- South Africa -- Eastern Cape
- Description: Perceived organisational support and organisational commitment plays a vital role in determining turnover intention. When employees feel that their organisation supports them levels of commitment can increase. Thus, employees feel more obligated because of favourable benefits such as organisational effectiveness and reduced turnover. The purpose of the present study was to investigate the effect perceived organisational support and organisational commitment have on turnover intention. The study followed a descriptive survey method. A questionnaire, measured on a Likert Scale was used to collect data from respondents. The sample comprised 98 academic staff at the University of Fort Hare and the response rate was 56.6 percent. The results indicated that perceived organisational support and organisational commitment are negatively and significantly related to turnover intention. The study also revealed perceived organisational support and organisational commitment on turnover intention did not account for a higher variance when put together, however moderate variance was found. Perceived organisational support in this study was identified as the most effective predictor of turnover intention. In addition to managerial implications and limitations of the study, direction for future research is also suggested at the end of this study. The findings of this study will help in terms of understanding the state of organisational commitment of academics and its relationship with their intentions to leave.
- Full Text:
- Date Issued: 2013
- Authors: Xabiso Ngabase
- Date: 2013
- Subjects: Employee assistance programs -- South Africa -- Eastern Cape , Employee competitive behavior -- South Africa -- Eastern Cape , Employee empowerment -- South Africa -- Eastern Cape , Employee loyalty -- South Africa -- Eastern Cape , Employee morale -- South Africa -- Eastern Cape , Employee motivation -- South Africa -- Eastern Cape , Employees -- Training of -- South Africa -- Eastern Cape , Labor turnover -- South Africa -- Eastern Cape , Universities and colleges -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MCom (Industrial Psychology)
- Identifier: vital:11555 , http://hdl.handle.net/10353/d1007110 , Employee assistance programs -- South Africa -- Eastern Cape , Employee competitive behavior -- South Africa -- Eastern Cape , Employee empowerment -- South Africa -- Eastern Cape , Employee loyalty -- South Africa -- Eastern Cape , Employee morale -- South Africa -- Eastern Cape , Employee motivation -- South Africa -- Eastern Cape , Employees -- Training of -- South Africa -- Eastern Cape , Labor turnover -- South Africa -- Eastern Cape , Universities and colleges -- South Africa -- Eastern Cape
- Description: Perceived organisational support and organisational commitment plays a vital role in determining turnover intention. When employees feel that their organisation supports them levels of commitment can increase. Thus, employees feel more obligated because of favourable benefits such as organisational effectiveness and reduced turnover. The purpose of the present study was to investigate the effect perceived organisational support and organisational commitment have on turnover intention. The study followed a descriptive survey method. A questionnaire, measured on a Likert Scale was used to collect data from respondents. The sample comprised 98 academic staff at the University of Fort Hare and the response rate was 56.6 percent. The results indicated that perceived organisational support and organisational commitment are negatively and significantly related to turnover intention. The study also revealed perceived organisational support and organisational commitment on turnover intention did not account for a higher variance when put together, however moderate variance was found. Perceived organisational support in this study was identified as the most effective predictor of turnover intention. In addition to managerial implications and limitations of the study, direction for future research is also suggested at the end of this study. The findings of this study will help in terms of understanding the state of organisational commitment of academics and its relationship with their intentions to leave.
- Full Text:
- Date Issued: 2013
The efficacy of coordinating role of the state ministry of cabinet affairs: a case study - Jonglei State, South Sudan
- Authors: Nathan, Alice Tiyo
- Date: 2013
- Language: English
- Type: Thesis , Masters , MPA
- Identifier: vital:11651 , http://hdl.handle.net/10353/d1006973
- Description: The research attempts to investigate the effectiveness of coordination in the State Ministry of Cabinet Affairs (SMCA), Jonglei State government, South Sudan. The objectives of the study were to identify coordination functions of the state Ministry of Cabinet Affairs, challenges and its role in promoting ethics and good governance in service delivery in Jonglei State. Quantitative and qualitative data was collected from a sample of twenty one respondents which included the State Deputy Governor, Directors of SMCA and Secretariat through questionnaires and interviews. This explored the functions; roles; and its organizational hierarchy which promotes ethical delivery of services and good governance. The study further discusses the levels of the implementation processes and the possible challenges facing SMCA. The results of the study reveal that the SMCA lacks qualified staff, unclear job descriptions and as a result it impinges on coordination and implementation of strategic plans and service delivery within the directorates. The study therefore recommends that for effective and efficient service delivery in promoting ethics and good governance, training of the human resource, recruitment of competent staff, clear job descriptions, regular performance appraisal and effective communication among others are paramount. The study further recommends that gender equality and equity should be addressed in order to meet the Millennium Development Goals (MDGs) in the community.
- Full Text:
- Date Issued: 2013
- Authors: Nathan, Alice Tiyo
- Date: 2013
- Language: English
- Type: Thesis , Masters , MPA
- Identifier: vital:11651 , http://hdl.handle.net/10353/d1006973
- Description: The research attempts to investigate the effectiveness of coordination in the State Ministry of Cabinet Affairs (SMCA), Jonglei State government, South Sudan. The objectives of the study were to identify coordination functions of the state Ministry of Cabinet Affairs, challenges and its role in promoting ethics and good governance in service delivery in Jonglei State. Quantitative and qualitative data was collected from a sample of twenty one respondents which included the State Deputy Governor, Directors of SMCA and Secretariat through questionnaires and interviews. This explored the functions; roles; and its organizational hierarchy which promotes ethical delivery of services and good governance. The study further discusses the levels of the implementation processes and the possible challenges facing SMCA. The results of the study reveal that the SMCA lacks qualified staff, unclear job descriptions and as a result it impinges on coordination and implementation of strategic plans and service delivery within the directorates. The study therefore recommends that for effective and efficient service delivery in promoting ethics and good governance, training of the human resource, recruitment of competent staff, clear job descriptions, regular performance appraisal and effective communication among others are paramount. The study further recommends that gender equality and equity should be addressed in order to meet the Millennium Development Goals (MDGs) in the community.
- Full Text:
- Date Issued: 2013
The impact of a budget deficit on transport infrastructure investment in South Africa
- Authors: Nanto, Aphiwe
- Date: 2013
- Subjects: Budget deficits -- South Africa , Infrastructure (Economics) -- South Africa , Transportation -- South Africa , Debts, Public -- South Africa
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11478 , http://hdl.handle.net/10353/d1015245 , Budget deficits -- South Africa , Infrastructure (Economics) -- South Africa , Transportation -- South Africa , Debts, Public -- South Africa
- Description: Persistent government budget deficits and government debt have become major concerns in both developed and developing countries. This study investigates the impact of a budget deficit on transport infrastructure investment in South Africa. Quarterly time series data, covering the period 1990q1- 2009q4, was used in this project. The study tests for stationarity using the Augmented Dickey- Fuller and Phillips Perron; it tests for cointegration using the Johansen (1991, 1995) methodology. A vector error correction model is used as an estimation technique. The results of this study show that a budget deficit has a negative impact on transport infrastructure investment in South Africa.
- Full Text:
- Date Issued: 2013
- Authors: Nanto, Aphiwe
- Date: 2013
- Subjects: Budget deficits -- South Africa , Infrastructure (Economics) -- South Africa , Transportation -- South Africa , Debts, Public -- South Africa
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11478 , http://hdl.handle.net/10353/d1015245 , Budget deficits -- South Africa , Infrastructure (Economics) -- South Africa , Transportation -- South Africa , Debts, Public -- South Africa
- Description: Persistent government budget deficits and government debt have become major concerns in both developed and developing countries. This study investigates the impact of a budget deficit on transport infrastructure investment in South Africa. Quarterly time series data, covering the period 1990q1- 2009q4, was used in this project. The study tests for stationarity using the Augmented Dickey- Fuller and Phillips Perron; it tests for cointegration using the Johansen (1991, 1995) methodology. A vector error correction model is used as an estimation technique. The results of this study show that a budget deficit has a negative impact on transport infrastructure investment in South Africa.
- Full Text:
- Date Issued: 2013
The impact of budget deficits on economic growth in South Africa
- Authors: Mrwebo, Luzuko T
- Date: 2013
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11481 , http://hdl.handle.net/10353/d1015284
- Description: The study examines the impact of budget deficits on economic growth in South Africa. The review of the results from theoretical and empirical studies has shown that budget deficits in the most have a negative impact on GDP growth. The Johansen cointegration test has shown evidence that there is cointegration between the GDP growth and its determinants. The tests indicated the presence of cointegration which led to the estimation of VECM. The measure for the long run relationship was between GDP growth and its determinants such as, budget deficits, domestic activities, government debt, and trade openness. The co-integration and vector error correction modelling techniques were applied to South African data between 1990 to 2012 period. This study at hand indicated that government budget deficits have a long run negative effect on economic growth, but the impact shown from the results of this study is very low.
- Full Text:
- Date Issued: 2013
- Authors: Mrwebo, Luzuko T
- Date: 2013
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11481 , http://hdl.handle.net/10353/d1015284
- Description: The study examines the impact of budget deficits on economic growth in South Africa. The review of the results from theoretical and empirical studies has shown that budget deficits in the most have a negative impact on GDP growth. The Johansen cointegration test has shown evidence that there is cointegration between the GDP growth and its determinants. The tests indicated the presence of cointegration which led to the estimation of VECM. The measure for the long run relationship was between GDP growth and its determinants such as, budget deficits, domestic activities, government debt, and trade openness. The co-integration and vector error correction modelling techniques were applied to South African data between 1990 to 2012 period. This study at hand indicated that government budget deficits have a long run negative effect on economic growth, but the impact shown from the results of this study is very low.
- Full Text:
- Date Issued: 2013
The impact of economic growth on unemployment in South Africa: 1994 -2012
- Authors: Handson, Banda
- Date: 2013
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: http://hdl.handle.net/10353/884 , vital:26506
- Description: One of the most pressing problems facing the South African economy is unemployment, which has been erratic over the past few years. This study examined the impact of economic growth on unemployment, using quarterly time series data for South Africa for the period 1994 to 2012. Johansen Co-integration reflected that there is stable and one significant long run relationship between unemployment and the explanatory variables that is economic growth (GDP), budget deficit (BUG), real effective exchange rate (REER) and labour productivity (LP). The study utilized Vector Error Correction Model (VECM) to determine the effects of macroeconomic variables thus REER, LP, GDP and BUG on unemployment in South Africa. The results of VECM indicated that LP has a negative long run impact on unemployment whilst GDP, BUG and REER have positive impact. The study resulted in the following policy recommendation: South African government should re-direct its spending towards activities that directly and indirectly promote creation of employment and decent jobs; a conducive environment and flexible labour market policies or legislations without impediments to employment creation should be created; and lastly government should prioritise industries that promote labour intensive. All this will help in absorbing large pools of the unemployed population thereby reducing unemployment in South Africa.
- Full Text:
- Date Issued: 2013
- Authors: Handson, Banda
- Date: 2013
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: http://hdl.handle.net/10353/884 , vital:26506
- Description: One of the most pressing problems facing the South African economy is unemployment, which has been erratic over the past few years. This study examined the impact of economic growth on unemployment, using quarterly time series data for South Africa for the period 1994 to 2012. Johansen Co-integration reflected that there is stable and one significant long run relationship between unemployment and the explanatory variables that is economic growth (GDP), budget deficit (BUG), real effective exchange rate (REER) and labour productivity (LP). The study utilized Vector Error Correction Model (VECM) to determine the effects of macroeconomic variables thus REER, LP, GDP and BUG on unemployment in South Africa. The results of VECM indicated that LP has a negative long run impact on unemployment whilst GDP, BUG and REER have positive impact. The study resulted in the following policy recommendation: South African government should re-direct its spending towards activities that directly and indirectly promote creation of employment and decent jobs; a conducive environment and flexible labour market policies or legislations without impediments to employment creation should be created; and lastly government should prioritise industries that promote labour intensive. All this will help in absorbing large pools of the unemployed population thereby reducing unemployment in South Africa.
- Full Text:
- Date Issued: 2013
The impact of fatal road accidents on the South African economy (1997-2011)
- Authors: Siswana, Babalwa
- Date: 2013
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11475 , http://hdl.handle.net/10353/d1013591
- Description: The purpose of the study is to examine the impact of fatal road accidents on the South African economy. The study used quarterly time series data for the period 1997 to 2011. A Johansen cointegration and vector error correction model (VCEM) was used to determine the impact of fatal road accidents on the South African economy. The explanatory variables in this study are labour productivity, real interest rates, unemployment and real exchange rates. Results from this study revealed that fatal road accidents have negatively impacted on the economic growth in South Africa while labour productivity, real interest rates, unemployment and real exchange rates have a positive long-run impact on economic growth in South Africa. This study recommends that road safety measures must be intensified in South Africa in order to maximize the benefits of economic growth. Keywords: Economic growth, fatal road accidents, South Africa
- Full Text:
- Date Issued: 2013
- Authors: Siswana, Babalwa
- Date: 2013
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11475 , http://hdl.handle.net/10353/d1013591
- Description: The purpose of the study is to examine the impact of fatal road accidents on the South African economy. The study used quarterly time series data for the period 1997 to 2011. A Johansen cointegration and vector error correction model (VCEM) was used to determine the impact of fatal road accidents on the South African economy. The explanatory variables in this study are labour productivity, real interest rates, unemployment and real exchange rates. Results from this study revealed that fatal road accidents have negatively impacted on the economic growth in South Africa while labour productivity, real interest rates, unemployment and real exchange rates have a positive long-run impact on economic growth in South Africa. This study recommends that road safety measures must be intensified in South Africa in order to maximize the benefits of economic growth. Keywords: Economic growth, fatal road accidents, South Africa
- Full Text:
- Date Issued: 2013
The impact of foreign debt on economic growth in South Africa
- Authors: Shayanewako, V B
- Date: 2013
- Subjects: Debts, External -- South Africa -- Eastern Cape , Investments, Foreign -- South Africa , Government spending policy -- South Africa , Economic development -- South Africa
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11477 , http://hdl.handle.net/10353/d1015140 , Debts, External -- South Africa -- Eastern Cape , Investments, Foreign -- South Africa , Government spending policy -- South Africa , Economic development -- South Africa
- Description: This study analyses the economic impact between foreign debt and economic growth in South Africa. By fitting a production function model to annual data for the period 1980-2011, the study examines the dynamic effect of debt service, capital stock and labour force on the economic growth of the country. By following Cunningham (1993), it has identified the long-run and short-run causal relationships among the included variables. The results indicate that the debt servicing burden has a negative effect on the productivity of labour and capital, and thereby affect economic growth adversely. The results also illustrate that the debt service ratio tends to negatively affect GDP and the rate of economic growth in the long-run, which, in turn, reduces the ability of the country to service its debt. Similarly, the estimated error correction term shows the existence of a significant long-run causal relationship among the specified variables. Overall, the results suggest the existence of short-run and long-run causal relationships running from debt service to GDP.
- Full Text:
- Date Issued: 2013
- Authors: Shayanewako, V B
- Date: 2013
- Subjects: Debts, External -- South Africa -- Eastern Cape , Investments, Foreign -- South Africa , Government spending policy -- South Africa , Economic development -- South Africa
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11477 , http://hdl.handle.net/10353/d1015140 , Debts, External -- South Africa -- Eastern Cape , Investments, Foreign -- South Africa , Government spending policy -- South Africa , Economic development -- South Africa
- Description: This study analyses the economic impact between foreign debt and economic growth in South Africa. By fitting a production function model to annual data for the period 1980-2011, the study examines the dynamic effect of debt service, capital stock and labour force on the economic growth of the country. By following Cunningham (1993), it has identified the long-run and short-run causal relationships among the included variables. The results indicate that the debt servicing burden has a negative effect on the productivity of labour and capital, and thereby affect economic growth adversely. The results also illustrate that the debt service ratio tends to negatively affect GDP and the rate of economic growth in the long-run, which, in turn, reduces the ability of the country to service its debt. Similarly, the estimated error correction term shows the existence of a significant long-run causal relationship among the specified variables. Overall, the results suggest the existence of short-run and long-run causal relationships running from debt service to GDP.
- Full Text:
- Date Issued: 2013
The impact of oil price volatility on economic growth in South Africa: a cointegration approach
- Authors: Matekenya, Weliswa
- Date: 2013
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: http://hdl.handle.net/10353/876 , vital:26505
- Description: Oil is an essential commodity in the South African economy and a source of energy that is used for electricity generation, heating, and cooking. It is vital for the transportation system on which the very livelihood of the economy depends. 14% of South African primary energy needs are met by oil while 95% of crude oil is imported, primarily, from Saudi Arabia and Iran. This study investigates the impact of oil price volatility on economic growth in South Africa from 1994Q1-2010Q4. The study employs the VECM and shows that there exists both a long run and short run relationship between the following variables: crude oil price, GDP, gross fixed investment, real interest rate and real exchange rate. In a long-run analysis there is a positive relationship between oil price and GDP while there is negative relationship in the short-run. The study also shows that, as an oil importing country, South Africa‟s economic growth depends on imported oil which makes the country vulnerable to oil price shocks. Based on the findings of this study it is recommended that policy interventions should include both monetary and fiscal policies. It is in this regard that promoting a regional integration in order to reduce oil dependence, by optimizing electricity supplies across the region, is essential. This will improve efficiency and, owing to economies of scale, lower generation costs.
- Full Text:
- Date Issued: 2013
- Authors: Matekenya, Weliswa
- Date: 2013
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: http://hdl.handle.net/10353/876 , vital:26505
- Description: Oil is an essential commodity in the South African economy and a source of energy that is used for electricity generation, heating, and cooking. It is vital for the transportation system on which the very livelihood of the economy depends. 14% of South African primary energy needs are met by oil while 95% of crude oil is imported, primarily, from Saudi Arabia and Iran. This study investigates the impact of oil price volatility on economic growth in South Africa from 1994Q1-2010Q4. The study employs the VECM and shows that there exists both a long run and short run relationship between the following variables: crude oil price, GDP, gross fixed investment, real interest rate and real exchange rate. In a long-run analysis there is a positive relationship between oil price and GDP while there is negative relationship in the short-run. The study also shows that, as an oil importing country, South Africa‟s economic growth depends on imported oil which makes the country vulnerable to oil price shocks. Based on the findings of this study it is recommended that policy interventions should include both monetary and fiscal policies. It is in this regard that promoting a regional integration in order to reduce oil dependence, by optimizing electricity supplies across the region, is essential. This will improve efficiency and, owing to economies of scale, lower generation costs.
- Full Text:
- Date Issued: 2013
The impact of stock market development on economic growth: evidence from South Africa
- Authors: Vacu, Nomfundo Portia
- Date: 2013
- Subjects: Stock exchanges -- South Africa , Economic development -- South Africa , Stocks -- Economic aspects -- South Africa , South Africa -- Economic conditions , Stock market development , Economic growth , South Africa
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11655 , http://hdl.handle.net/10353/d1006983 , Stock exchanges -- South Africa , Economic development -- South Africa , Stocks -- Economic aspects -- South Africa , South Africa -- Economic conditions , Stock market development , Economic growth , South Africa
- Description: The main objective of this study is to examine the long run relationship between stock market development and economic growth in the case of South Africa. The study used quarterly data covering the period from 1990Q1 to 2010Q4. To empirically test the link between the two variables, the study used the Johnson’s cointegration approach and Granger causality so as to test the direction of the relationship. The Vector Error Correction Model was also employed to capture both short run and long run dynamics. Generally, the results reveal that a long run relationship exists between the two variables and the causality flows from economic growth to stock market development. Also, the extent to which of stock market development impacts on growth is statistically weak.
- Full Text:
- Date Issued: 2013
- Authors: Vacu, Nomfundo Portia
- Date: 2013
- Subjects: Stock exchanges -- South Africa , Economic development -- South Africa , Stocks -- Economic aspects -- South Africa , South Africa -- Economic conditions , Stock market development , Economic growth , South Africa
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11655 , http://hdl.handle.net/10353/d1006983 , Stock exchanges -- South Africa , Economic development -- South Africa , Stocks -- Economic aspects -- South Africa , South Africa -- Economic conditions , Stock market development , Economic growth , South Africa
- Description: The main objective of this study is to examine the long run relationship between stock market development and economic growth in the case of South Africa. The study used quarterly data covering the period from 1990Q1 to 2010Q4. To empirically test the link between the two variables, the study used the Johnson’s cointegration approach and Granger causality so as to test the direction of the relationship. The Vector Error Correction Model was also employed to capture both short run and long run dynamics. Generally, the results reveal that a long run relationship exists between the two variables and the causality flows from economic growth to stock market development. Also, the extent to which of stock market development impacts on growth is statistically weak.
- Full Text:
- Date Issued: 2013
The nature of China’s role in development of Africa: the case of Zambia and Zimbabwe
- Authors: Hogwe, Fortune
- Date: 2013
- Language: English
- Type: Thesis , Masters , M Soc Sc (Dev)
- Identifier: vital:11445 , http://hdl.handle.net/10353/d1015048
- Description: China’s economic involvement in Africa has increased rapidly over the past decade. China’s involvement in Africa has become one of the controversial topics in the development literature. The background of the study is that Sino-African relations can be grouped into two phases thus: past relations and contemporary relations. The study notes that past relations are different from contemporary relations because while the former are mainly characterised by solidarity, the latter are mainly categorized by economic relations. The study is a historical narrative of China’s economic involvement and the impact in Africa over the past decade. The study draws its arguments from the myths which label Chinese resurgence into Africa as neo-colonialism and that China’s reinvigorated interest in Africa is entirely based upon its own economic pursuits since it has developed into an economic powerhouse over the past decade. Additionally, it has been reported that China disregard good governance in Africa by engaging African governments which are corrupt and which possess poor track human rights. In order to determine if China is pushed into Africa by its economic pursuits and whether China disregards good governance, the study uses two case studies thus: Zimbabwe and Zambia. Zimbabwe one the one hand represents a pariah state, which is viewed as corrupt and a nation which has a poor record of human rights while Zambia, on the other hand represents illiberal regimes and democratic regimes with commodity based economies. The research discovered that China’s economic involvement in Africa presents both opportunities and challenges for African countries. In some instances, China has aided GDP growth in some African countries while in some instances, it has increased unemployment. In conclusion, the study also discovered that China does not involve itself in African domestic affairs hence it has been criticised for encouraging corruption and abusing of human rights.However, the study notes that these issues are mainly domestic hence Africans are entirely to be blamed for such practices, not China.
- Full Text:
- Date Issued: 2013
- Authors: Hogwe, Fortune
- Date: 2013
- Language: English
- Type: Thesis , Masters , M Soc Sc (Dev)
- Identifier: vital:11445 , http://hdl.handle.net/10353/d1015048
- Description: China’s economic involvement in Africa has increased rapidly over the past decade. China’s involvement in Africa has become one of the controversial topics in the development literature. The background of the study is that Sino-African relations can be grouped into two phases thus: past relations and contemporary relations. The study notes that past relations are different from contemporary relations because while the former are mainly characterised by solidarity, the latter are mainly categorized by economic relations. The study is a historical narrative of China’s economic involvement and the impact in Africa over the past decade. The study draws its arguments from the myths which label Chinese resurgence into Africa as neo-colonialism and that China’s reinvigorated interest in Africa is entirely based upon its own economic pursuits since it has developed into an economic powerhouse over the past decade. Additionally, it has been reported that China disregard good governance in Africa by engaging African governments which are corrupt and which possess poor track human rights. In order to determine if China is pushed into Africa by its economic pursuits and whether China disregards good governance, the study uses two case studies thus: Zimbabwe and Zambia. Zimbabwe one the one hand represents a pariah state, which is viewed as corrupt and a nation which has a poor record of human rights while Zambia, on the other hand represents illiberal regimes and democratic regimes with commodity based economies. The research discovered that China’s economic involvement in Africa presents both opportunities and challenges for African countries. In some instances, China has aided GDP growth in some African countries while in some instances, it has increased unemployment. In conclusion, the study also discovered that China does not involve itself in African domestic affairs hence it has been criticised for encouraging corruption and abusing of human rights.However, the study notes that these issues are mainly domestic hence Africans are entirely to be blamed for such practices, not China.
- Full Text:
- Date Issued: 2013
The role of public participation in building a people centered public service: the case of the King Sabatha Dalindyebo Municipality (KSDM) integrated development planning process (Eastern Cape)
- Authors: Ngcukayitobi, Lulama
- Date: 2013
- Subjects: Political participation -- South Africa -- Eastern Cape , Civil service -- South Africa -- Eastern Cape , Municipal government -- South Africa -- Eastern Cape , Human services -- South Africa -- Eastern Cape , Sustainable development -- South Africa -- Eastern Cape , Eastern Cape -- South Africa -- Economic policy , Eastern Cape -- South Africa -- Social conditions , Eastern Cape -- South Africa -- Economic conditions
- Language: English
- Type: Thesis , Masters , MPA
- Identifier: vital:11674 , http://hdl.handle.net/10353/d1007123 , Political participation -- South Africa -- Eastern Cape , Civil service -- South Africa -- Eastern Cape , Municipal government -- South Africa -- Eastern Cape , Human services -- South Africa -- Eastern Cape , Sustainable development -- South Africa -- Eastern Cape , Eastern Cape -- South Africa -- Economic policy , Eastern Cape -- South Africa -- Social conditions , Eastern Cape -- South Africa -- Economic conditions
- Description: This chapter focuses on the literature relevant to the study and more significantly on the issues that are pertinent to the critical questions and the objectives of this research. The chapter will provide definitions of community participation and their intricate relationship with the Integrated Development Planning as a strategic framework for development within the King Sabatha Dalindyebo Municipality. In this context the chapter presents a review of literature dealing with the theoretical arguments surrounding public participation. Hart (1998:13) views literature review as the selection of available documents - both published and unpublished - on the topic, which contains information, ideas, data and evidence written from a particular standpoint to fulfill certain aims This chapter is divided into two main review sections. The first section reviews the relevant policy, legislation and guidelines in which public participation and the IDP process is located in South Africa. The second section focuses on the literature and theories of public participation and the IDP process as it is applied in South Africa.
- Full Text:
- Date Issued: 2013
- Authors: Ngcukayitobi, Lulama
- Date: 2013
- Subjects: Political participation -- South Africa -- Eastern Cape , Civil service -- South Africa -- Eastern Cape , Municipal government -- South Africa -- Eastern Cape , Human services -- South Africa -- Eastern Cape , Sustainable development -- South Africa -- Eastern Cape , Eastern Cape -- South Africa -- Economic policy , Eastern Cape -- South Africa -- Social conditions , Eastern Cape -- South Africa -- Economic conditions
- Language: English
- Type: Thesis , Masters , MPA
- Identifier: vital:11674 , http://hdl.handle.net/10353/d1007123 , Political participation -- South Africa -- Eastern Cape , Civil service -- South Africa -- Eastern Cape , Municipal government -- South Africa -- Eastern Cape , Human services -- South Africa -- Eastern Cape , Sustainable development -- South Africa -- Eastern Cape , Eastern Cape -- South Africa -- Economic policy , Eastern Cape -- South Africa -- Social conditions , Eastern Cape -- South Africa -- Economic conditions
- Description: This chapter focuses on the literature relevant to the study and more significantly on the issues that are pertinent to the critical questions and the objectives of this research. The chapter will provide definitions of community participation and their intricate relationship with the Integrated Development Planning as a strategic framework for development within the King Sabatha Dalindyebo Municipality. In this context the chapter presents a review of literature dealing with the theoretical arguments surrounding public participation. Hart (1998:13) views literature review as the selection of available documents - both published and unpublished - on the topic, which contains information, ideas, data and evidence written from a particular standpoint to fulfill certain aims This chapter is divided into two main review sections. The first section reviews the relevant policy, legislation and guidelines in which public participation and the IDP process is located in South Africa. The second section focuses on the literature and theories of public participation and the IDP process as it is applied in South Africa.
- Full Text:
- Date Issued: 2013
Towards an information security awareness process for engineering SMEs in emerging economies
- Authors: Gundu, Tapiwa
- Date: 2013
- Subjects: Computer security -- South Africa , Information technology -- South Africa , Computer networks -- Security measures -- South Africa , Information resources management -- South Africa , Small business -- South Africa , Engineering firms -- South Africa , Confidential communications -- South Africa , Information Security Awareness , Information Security Behaviour , Information Security Training
- Language: English
- Type: Thesis , Masters , MCom (Information Systems)
- Identifier: vital:11138 , http://hdl.handle.net/10353/d1007179 , Computer security -- South Africa , Information technology -- South Africa , Computer networks -- Security measures -- South Africa , Information resources management -- South Africa , Small business -- South Africa , Engineering firms -- South Africa , Confidential communications -- South Africa , Information Security Awareness , Information Security Behaviour , Information Security Training
- Description: With most employees in Engineering Small and Medium Enterprises (SME) now having access to their own personal workstations, the need for information security management to safeguard against loss/alteration or theft of the firms’ important information has increased. These Engineering SMEs tend to be more concerned with vulnerabilities from external threats, although industry research suggests that a substantial proportion of security incidents originate from insiders within the firm. Hence, technical preventative measures such as antivirus software and firewalls are proving to solve only part of the problem as the employees controlling them lack adequate information security knowledge. This tends to expose a firm to risk and costly mistakes made by naïve/uninformed employees. This dissertation presents an information security awareness process that seeks to cultivate positive security behaviours using a behavioural intention model based on the Theory of Reasoned Action, Protection Motivation Theory and the Behaviourism Theory. The process and model have been refined and verified using expert review and tested through action research at an Engineering SME in South Africa. The main finding was information security levels of employees within the firm were low, but the proposed information security awareness process increased their knowledge thereby positively altering their behaviour.
- Full Text:
- Date Issued: 2013
- Authors: Gundu, Tapiwa
- Date: 2013
- Subjects: Computer security -- South Africa , Information technology -- South Africa , Computer networks -- Security measures -- South Africa , Information resources management -- South Africa , Small business -- South Africa , Engineering firms -- South Africa , Confidential communications -- South Africa , Information Security Awareness , Information Security Behaviour , Information Security Training
- Language: English
- Type: Thesis , Masters , MCom (Information Systems)
- Identifier: vital:11138 , http://hdl.handle.net/10353/d1007179 , Computer security -- South Africa , Information technology -- South Africa , Computer networks -- Security measures -- South Africa , Information resources management -- South Africa , Small business -- South Africa , Engineering firms -- South Africa , Confidential communications -- South Africa , Information Security Awareness , Information Security Behaviour , Information Security Training
- Description: With most employees in Engineering Small and Medium Enterprises (SME) now having access to their own personal workstations, the need for information security management to safeguard against loss/alteration or theft of the firms’ important information has increased. These Engineering SMEs tend to be more concerned with vulnerabilities from external threats, although industry research suggests that a substantial proportion of security incidents originate from insiders within the firm. Hence, technical preventative measures such as antivirus software and firewalls are proving to solve only part of the problem as the employees controlling them lack adequate information security knowledge. This tends to expose a firm to risk and costly mistakes made by naïve/uninformed employees. This dissertation presents an information security awareness process that seeks to cultivate positive security behaviours using a behavioural intention model based on the Theory of Reasoned Action, Protection Motivation Theory and the Behaviourism Theory. The process and model have been refined and verified using expert review and tested through action research at an Engineering SME in South Africa. The main finding was information security levels of employees within the firm were low, but the proposed information security awareness process increased their knowledge thereby positively altering their behaviour.
- Full Text:
- Date Issued: 2013
Trade liberalisation and poverty alleviation in South Africa
- Authors: Gundu, Tafadzwa Amanda
- Date: 2013
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11480 , http://hdl.handle.net/10353/d1015283
- Description: The study attempts to address, from amongst the key issues in the current debate on economic development: the effect of trade liberalization on poverty. The relationship between trade liberalization and poverty levels is investigated in both the long run and the short run for South Africa. To measure trade liberalization, trade openness is used as the standard index. Foreign Direct Investment (FDI) measures financial openness while taxation is a measure of public intervention in the country. Consumption per capita is a proxy for poverty and Real Gross Domestic Product (RGDP) controlled for economic growth. Applying the Johansen Co-integration Techniques and Error Correction Method, empirical results suggest that trade liberalization has a cumulative effect on poverty reduction in the long-run. Lower poverty level is associated with low taxation and high foreign direct investment, particularly in the short run, in South Africa. Therefore, it is recommended that the government needs to design and pursue active development strategies to benefit from openness. There is also a need to enhance the tax revenues of the state through better collection of revenues, and administrative reforms rather than expenditure cut backs, which can reduce the effectiveness of the public sector. The government needs to strengthen allocation of funds to social sectors so as to bring the issue of poverty reduction to the central stage of economic policy making.
- Full Text:
- Date Issued: 2013
- Authors: Gundu, Tafadzwa Amanda
- Date: 2013
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11480 , http://hdl.handle.net/10353/d1015283
- Description: The study attempts to address, from amongst the key issues in the current debate on economic development: the effect of trade liberalization on poverty. The relationship between trade liberalization and poverty levels is investigated in both the long run and the short run for South Africa. To measure trade liberalization, trade openness is used as the standard index. Foreign Direct Investment (FDI) measures financial openness while taxation is a measure of public intervention in the country. Consumption per capita is a proxy for poverty and Real Gross Domestic Product (RGDP) controlled for economic growth. Applying the Johansen Co-integration Techniques and Error Correction Method, empirical results suggest that trade liberalization has a cumulative effect on poverty reduction in the long-run. Lower poverty level is associated with low taxation and high foreign direct investment, particularly in the short run, in South Africa. Therefore, it is recommended that the government needs to design and pursue active development strategies to benefit from openness. There is also a need to enhance the tax revenues of the state through better collection of revenues, and administrative reforms rather than expenditure cut backs, which can reduce the effectiveness of the public sector. The government needs to strengthen allocation of funds to social sectors so as to bring the issue of poverty reduction to the central stage of economic policy making.
- Full Text:
- Date Issued: 2013
Auditing & Governance: 2A
Business Management: BEC 111 E & BEC 111
- Puchert, Juliet, Ford, Mari, Viljoen, Kim, Smith, E, Elliott, Roger, Rowles, M
- Authors: Puchert, Juliet , Ford, Mari , Viljoen, Kim , Smith, E , Elliott, Roger , Rowles, M
- Date: 2012-06
- Subjects: Business management
- Language: English
- Type: Examination paper
- Identifier: vital:17514 , http://hdl.handle.net/10353/d1011117
- Description: Business Management BEC 111 E & BEC 111, main examination June 2012.
- Full Text:
- Date Issued: 2012-06
- Authors: Puchert, Juliet , Ford, Mari , Viljoen, Kim , Smith, E , Elliott, Roger , Rowles, M
- Date: 2012-06
- Subjects: Business management
- Language: English
- Type: Examination paper
- Identifier: vital:17514 , http://hdl.handle.net/10353/d1011117
- Description: Business Management BEC 111 E & BEC 111, main examination June 2012.
- Full Text:
- Date Issued: 2012-06
Taxation 3: ATV 311E
- Stevens, N, Hirschbeck, L, Olivier, J
- Authors: Stevens, N , Hirschbeck, L , Olivier, J
- Date: 2012-06
- Language: English
- Type: Examination paper
- Identifier: vital:17406 , http://hdl.handle.net/10353/d1009767
- Description: Taxation 3: ATV 311E, final assessment 15 June 2012.
- Full Text:
- Date Issued: 2012-06
- Authors: Stevens, N , Hirschbeck, L , Olivier, J
- Date: 2012-06
- Language: English
- Type: Examination paper
- Identifier: vital:17406 , http://hdl.handle.net/10353/d1009767
- Description: Taxation 3: ATV 311E, final assessment 15 June 2012.
- Full Text:
- Date Issued: 2012-06
Mathematical Economics: ECO 222 & 222E
- Authors: Maredza, A , Harper, L
- Date: 2012-02
- Subjects: Economics, Mathematical
- Language: English
- Type: Examination paper
- Identifier: vital:17507 , http://hdl.handle.net/10353/d1010767
- Description: Mathematical Economics: ECO 222 & 222E, Supplementary examination February 2012.
- Full Text: false
- Date Issued: 2012-02
- Authors: Maredza, A , Harper, L
- Date: 2012-02
- Subjects: Economics, Mathematical
- Language: English
- Type: Examination paper
- Identifier: vital:17507 , http://hdl.handle.net/10353/d1010767
- Description: Mathematical Economics: ECO 222 & 222E, Supplementary examination February 2012.
- Full Text: false
- Date Issued: 2012-02
A critical analysis of the applicability of King III in the local government sphere: a case of the Buffalo City Metropolitan Municipality in the Eastern Cape from 2009-2011
- Mawonga, Thembinkosi Arthwell
- Authors: Mawonga, Thembinkosi Arthwell
- Date: 2012
- Subjects: Local government -- South Africa -- Eastern Cape , Human services -- South Africa -- Eastern Cape , Finance, Public -- South Africa -- Eastern Cape , Public administration -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MPA
- Identifier: vital:11628 , http://hdl.handle.net/10353/d1001236 , Local government -- South Africa -- Eastern Cape , Human services -- South Africa -- Eastern Cape , Finance, Public -- South Africa -- Eastern Cape , Public administration -- South Africa -- Eastern Cape
- Description: The purpose of this mini-dissertation is to investigate the applicability of the King III in local government sphere, as well as to evaluate the impact it is likely to have if its principles and recommendations were to be fully implemented. Local government has been plagued by very serious challenges of poor service delivery and this has been attributed, in the main, to a lack of adequate resources to address backlogs and maintain existing infrastructure. it is therefore very important that all resources are harnessed and channelled to where they are most need, in service delivery. The investigation of the systems and procedures that are in place to ensure prudent financial management and accountability is a worthwhile study. the BMC, is one of two economic hubs of the Eastern Cape. The mini dissertation commences with assessment of governance arrangements that are in place at the BMC against the minimum standards proposed by the King III. It explores the full range of principles proposed in the codes and compares that to practices and procedures at BMC. To avoid a long winded discussion because the principles are close to ten in number; these have been combined and formulated into four broad themes. A consolidated discussion on manifestations on bad governance or poor adherence to good governance in the public sector is discussed in detail. Finally, the impact of various initiatives currently being pursued to promote good governance will be examined, key lessons will be drawn and recommendations for further studies will be made.
- Full Text:
- Date Issued: 2012
- Authors: Mawonga, Thembinkosi Arthwell
- Date: 2012
- Subjects: Local government -- South Africa -- Eastern Cape , Human services -- South Africa -- Eastern Cape , Finance, Public -- South Africa -- Eastern Cape , Public administration -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Masters , MPA
- Identifier: vital:11628 , http://hdl.handle.net/10353/d1001236 , Local government -- South Africa -- Eastern Cape , Human services -- South Africa -- Eastern Cape , Finance, Public -- South Africa -- Eastern Cape , Public administration -- South Africa -- Eastern Cape
- Description: The purpose of this mini-dissertation is to investigate the applicability of the King III in local government sphere, as well as to evaluate the impact it is likely to have if its principles and recommendations were to be fully implemented. Local government has been plagued by very serious challenges of poor service delivery and this has been attributed, in the main, to a lack of adequate resources to address backlogs and maintain existing infrastructure. it is therefore very important that all resources are harnessed and channelled to where they are most need, in service delivery. The investigation of the systems and procedures that are in place to ensure prudent financial management and accountability is a worthwhile study. the BMC, is one of two economic hubs of the Eastern Cape. The mini dissertation commences with assessment of governance arrangements that are in place at the BMC against the minimum standards proposed by the King III. It explores the full range of principles proposed in the codes and compares that to practices and procedures at BMC. To avoid a long winded discussion because the principles are close to ten in number; these have been combined and formulated into four broad themes. A consolidated discussion on manifestations on bad governance or poor adherence to good governance in the public sector is discussed in detail. Finally, the impact of various initiatives currently being pursued to promote good governance will be examined, key lessons will be drawn and recommendations for further studies will be made.
- Full Text:
- Date Issued: 2012