The Rural poor, the private sector and markets: changing interactions in southern Africa
- University of the Western Cape, Programme for Land and Agrarian Studies
- Authors: University of the Western Cape, Programme for Land and Agrarian Studies
- Date: 2003-08
- Subjects: Economic development -- Africa, Southern , Africa, Southern -- Economic Policy , Poor -- Africa, Southern , Sustainable development -- Africa, Southern
- Language: English
- Type: text , book
- Identifier: http://hdl.handle.net/10962/74448 , vital:30303 , 1868085783
- Description: One of the central tenets of much current development thinking in southern Africa is that market-oriented strategies and private sector involvement must be the basis for future economic growth. This has underpinned structural adjustment and economic policy reform policies in the region over the last decade or more. It also underlies the argument for encouraging external foreign direct investment (FDI) as a motor for growth. However growing evidence suggests that such a strategy has not paid off. Economic growth rates have been disappointing, private, and particularly foreign, investment has been limited, and employment in the formal sector has fallen dramatically.1 Structural adjustment and market liberalisation have clearly not delivered the developmental benefits claimed of them, and people's livelihood opportunities have, ft seems, declined over the same period and their levels of vulnerability have increased. The increasing recognition that the standard neo-liberal prescriptions were not having the expected benefits, especially for poor people, has resulted in some rethinking about how best to redirect the benefits of globalisation and economic reform towards the poor, and how to offset some of the losses. Thus ‘pro-poor growth strategies’, ‘making markets work for the poor’ and ‘growth for redistribution' have become well-worn slogans. However, the practical and policy measures required, whereby the benefits of an engagement with a globalised economy, investment by the private sector and liberalisation privatisation measures can result in poverty reduction, remain vague.A number of issues arise. For the sceptics, questions are raised about the degree to which the turn to a 'pro-poor' markets approach is simply rhetorical gloss, added to the discredited neo-liberal paradigm, or actually a genuinely new policy perspective in its own right. It is important to differentiate between broad economic policy reform objectives (which, with some nuances, remain largely in the standard neo-liberal form) and sectoral policies which contain explicitly pro-poor elements. While retaining the argument that market liberalisation and external investment are key, such policies may include some strategic elements of state- directed intervention which boost the access of the poor to new markets and investment opportunities. It is this stance, where the state intervenes to improve access and for particular groups of people, redressing to some extent the imbalances caused by the lack of level playing fields of existing markets, which potentially sets a pro-poor perspective apart.
- Full Text:
- Date Issued: 2003-08
- Authors: University of the Western Cape, Programme for Land and Agrarian Studies
- Date: 2003-08
- Subjects: Economic development -- Africa, Southern , Africa, Southern -- Economic Policy , Poor -- Africa, Southern , Sustainable development -- Africa, Southern
- Language: English
- Type: text , book
- Identifier: http://hdl.handle.net/10962/74448 , vital:30303 , 1868085783
- Description: One of the central tenets of much current development thinking in southern Africa is that market-oriented strategies and private sector involvement must be the basis for future economic growth. This has underpinned structural adjustment and economic policy reform policies in the region over the last decade or more. It also underlies the argument for encouraging external foreign direct investment (FDI) as a motor for growth. However growing evidence suggests that such a strategy has not paid off. Economic growth rates have been disappointing, private, and particularly foreign, investment has been limited, and employment in the formal sector has fallen dramatically.1 Structural adjustment and market liberalisation have clearly not delivered the developmental benefits claimed of them, and people's livelihood opportunities have, ft seems, declined over the same period and their levels of vulnerability have increased. The increasing recognition that the standard neo-liberal prescriptions were not having the expected benefits, especially for poor people, has resulted in some rethinking about how best to redirect the benefits of globalisation and economic reform towards the poor, and how to offset some of the losses. Thus ‘pro-poor growth strategies’, ‘making markets work for the poor’ and ‘growth for redistribution' have become well-worn slogans. However, the practical and policy measures required, whereby the benefits of an engagement with a globalised economy, investment by the private sector and liberalisation privatisation measures can result in poverty reduction, remain vague.A number of issues arise. For the sceptics, questions are raised about the degree to which the turn to a 'pro-poor' markets approach is simply rhetorical gloss, added to the discredited neo-liberal paradigm, or actually a genuinely new policy perspective in its own right. It is important to differentiate between broad economic policy reform objectives (which, with some nuances, remain largely in the standard neo-liberal form) and sectoral policies which contain explicitly pro-poor elements. While retaining the argument that market liberalisation and external investment are key, such policies may include some strategic elements of state- directed intervention which boost the access of the poor to new markets and investment opportunities. It is this stance, where the state intervenes to improve access and for particular groups of people, redressing to some extent the imbalances caused by the lack of level playing fields of existing markets, which potentially sets a pro-poor perspective apart.
- Full Text:
- Date Issued: 2003-08
Effectiveness of monetary policy transmission mechanism: the case of selected SADC countries
- Tengwa, Anakho https://orcid.org/0000-0002-0700-8668
- Authors: Tengwa, Anakho https://orcid.org/0000-0002-0700-8668
- Date: 2022-12
- Subjects: Monetary policy -- Africa, Southern , Transmission mechanism (Monetary policy) -- Africa, Southern , Economic development -- Africa, Southern
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10353/26863 , vital:66037
- Description: Monetary policy plays a significant role in countries economic development. The variability in inflation in the SADC region provides room to question the Effectiveness of the transmission of monetary policy as these countries experience inflation in different ways. The study analyses the effectiveness of monetary policy transmission mechanism on the selected 5 SADC countries, South Africa, Botswana, Mauritius, Tanzania, and Zambia. The selection of the countries was mainly based on data availability. To answer the study hypothesis, the study used secondary data from different data sources, employing the Vector Autoregression Regression. The different channels analysed include the exchange rate, interest rates as well as credit channel to measure monetary policy tools. The main variables are, Gross Domestic Product (GDP), Consumer Price Index (CPI)cpi and money supply. Panel unit root was tested to test the stationarity of the variables and the appropriate lag length was determined. Panel VAR model was estimated where the focus was mainly on variance decomposition and impulse response. Then lastly the stability of the model was tested using diagnostic test. The results revealed that interest rates channel and exchange rate channel have a more significant effect in explaining the transmission of macroeconomic shock to the rest of the economy through gpd and cpi. While the credit channel mostly transmits to the rest of the economy through money supply and cpi, its effects from GDP are rather insignificant. It is also noted that interest rates serve as the dominant channel in transmitting monetary policy shocks to the rest of the economy. When central banks decrease prime lending rates for commercial banks, this is passed to consumers making it less expensive to borrow. In the long run, attracts foreign investors which harms the domestic currency. The author has noted that future research could focus on how asset price channel affects the economy. , Thesis (MCom) -- Faculty of Management and Commerce, 2022
- Full Text:
- Date Issued: 2022-12
- Authors: Tengwa, Anakho https://orcid.org/0000-0002-0700-8668
- Date: 2022-12
- Subjects: Monetary policy -- Africa, Southern , Transmission mechanism (Monetary policy) -- Africa, Southern , Economic development -- Africa, Southern
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10353/26863 , vital:66037
- Description: Monetary policy plays a significant role in countries economic development. The variability in inflation in the SADC region provides room to question the Effectiveness of the transmission of monetary policy as these countries experience inflation in different ways. The study analyses the effectiveness of monetary policy transmission mechanism on the selected 5 SADC countries, South Africa, Botswana, Mauritius, Tanzania, and Zambia. The selection of the countries was mainly based on data availability. To answer the study hypothesis, the study used secondary data from different data sources, employing the Vector Autoregression Regression. The different channels analysed include the exchange rate, interest rates as well as credit channel to measure monetary policy tools. The main variables are, Gross Domestic Product (GDP), Consumer Price Index (CPI)cpi and money supply. Panel unit root was tested to test the stationarity of the variables and the appropriate lag length was determined. Panel VAR model was estimated where the focus was mainly on variance decomposition and impulse response. Then lastly the stability of the model was tested using diagnostic test. The results revealed that interest rates channel and exchange rate channel have a more significant effect in explaining the transmission of macroeconomic shock to the rest of the economy through gpd and cpi. While the credit channel mostly transmits to the rest of the economy through money supply and cpi, its effects from GDP are rather insignificant. It is also noted that interest rates serve as the dominant channel in transmitting monetary policy shocks to the rest of the economy. When central banks decrease prime lending rates for commercial banks, this is passed to consumers making it less expensive to borrow. In the long run, attracts foreign investors which harms the domestic currency. The author has noted that future research could focus on how asset price channel affects the economy. , Thesis (MCom) -- Faculty of Management and Commerce, 2022
- Full Text:
- Date Issued: 2022-12
Financial sector development, financial innovation and economic growth: case of a selected SADC countries
- Mpukumpa, Siphosethu https://orcid.org/0000-0001-7342-8751
- Authors: Mpukumpa, Siphosethu https://orcid.org/0000-0001-7342-8751
- Date: 2023-04
- Subjects: Financial services industry -- Africa, Southern , Investments -- Africa, Southern , Economic development -- Africa, Southern
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10353/26852 , vital:66036
- Description: The financial sector plays a pivotal role in an economy of a country; hence the importance of financial sector development cannot be underestimated. Financial sector development is widely regarded as another conduit through which financial innovation and economic growth can be alleviated. The study firstly empirically examines the effect of financial sector development on financial innovation and also the impact of financial sector development and financial innovation on economic growth in selected Southern African Development Community (SADC) countries, employing the Generalized Method of Moments (GMM) technique for the period 1990 to 2020. Empirical results revealed that financial sector development overall does have an impact on financial innovation in the selected SADC countries. And also, financial sector development together with financial innovation does have an impact on economic growth in the selected SADC countries. However, on the relationship between financial system stability, financial innovation and economic growth, results reveal that a stable financial system is beneficial to new technological advancement and improved economic growth. Therefore, the overall findings from the study indicate that financial access or financial inclusion and financial stability is what increases financial innovation and boosts economic growth instead of mere financial sector development at a broader level. , Thesis (MCom) -- Faculty of Management and Commerce, 2023
- Full Text:
- Date Issued: 2023-04
- Authors: Mpukumpa, Siphosethu https://orcid.org/0000-0001-7342-8751
- Date: 2023-04
- Subjects: Financial services industry -- Africa, Southern , Investments -- Africa, Southern , Economic development -- Africa, Southern
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10353/26852 , vital:66036
- Description: The financial sector plays a pivotal role in an economy of a country; hence the importance of financial sector development cannot be underestimated. Financial sector development is widely regarded as another conduit through which financial innovation and economic growth can be alleviated. The study firstly empirically examines the effect of financial sector development on financial innovation and also the impact of financial sector development and financial innovation on economic growth in selected Southern African Development Community (SADC) countries, employing the Generalized Method of Moments (GMM) technique for the period 1990 to 2020. Empirical results revealed that financial sector development overall does have an impact on financial innovation in the selected SADC countries. And also, financial sector development together with financial innovation does have an impact on economic growth in the selected SADC countries. However, on the relationship between financial system stability, financial innovation and economic growth, results reveal that a stable financial system is beneficial to new technological advancement and improved economic growth. Therefore, the overall findings from the study indicate that financial access or financial inclusion and financial stability is what increases financial innovation and boosts economic growth instead of mere financial sector development at a broader level. , Thesis (MCom) -- Faculty of Management and Commerce, 2023
- Full Text:
- Date Issued: 2023-04
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