Exchange rate and foreign direct investment inflows: a case of Namibia 1990-2014
- Authors: Idhenga, Salome Ngwedha
- Date: 2016
- Subjects: Economic policy , Exchange rate pass-through -- Namibia , Investments, Foreign -- Namibia , Gross domestic product -- Namibia
- Language: English
- Type: Thesis , Masters , MPhil
- Identifier: http://hdl.handle.net/10948/6762 , vital:21134
- Description: Purpose - this study is aimed at to investigating the effects exchange rate and other variables on foreign direct investment (FDI) inflows have on the Namibian economy. Methodology -The model comprises of the unit root test, the co-integration test, the long run equation co-efficient, an error correction model, the normality test and the stability test, were employed to estimate and interpret the results. Finding and recommendations - The results of the study have revealed that a relationship exists between exchange rate and FDI. However, this relationship is said to be statistically insignificant. It cannot therefore be used as a tool to influence FDI in Namibia. The results further indicated that GDP and trade openness were the most significant determinants of FDI in Namibia. The recommendations of this study thus suggest that the government should implement policies to diversify its production across all sectors and increase the manufacturing of finished goods, so as to enhance the GDP growth. Namibia should further advance its trade open through in-creased and fast-tracked trade agreements at both bilateral and multilateral levels.
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- Date Issued: 2016
A critical assessment of economic policies and their impact on entrepreneurship development in South Africa: a case of Khayelitsha Township in Cape Town
- Authors: Oduwole, Olusola https://orcid.org/0000-0002-1563-7392
- Date: 2015
- Subjects: Entrepreneurship , Economic policy , Economic development -- South Africa
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/26302 , vital:65236
- Description: The complexity of the South African society due to past systematic exclusion of some communities from economic activities resulted in the triple challenge of poverty, inequality and unemployment. Although various economic policies had been developed since the advent of the democratic dispensation in 1994, these policies focused on levelling the economic environment, poverty alleviation and massive social security system. However, despite all the interventions, South Africa remains one of the most unequal societies in the world. This is profiled by the mushrooming of informal settlements around cities with job seekers and frequent protests by people who are impatient to experience improvement in their quality of life and who feel cheated out of their social contract. Advocacy from the governing party’s tripartite alliance towards a developmental state had placed more obligations on the government. This requires deliberate interventions through policies implementation to improve or at best alleviate the well-being of the citizenry. A survey conducted in the township of Khayelitsha to assess the impact of such economic policies on the development of entrepreneurship. Khayelitsha is one of South Africa’s largest townships, an informal settlement profiled by unemployment, poor infrastructure and unavailability of basic services. The study explored the entrepreneurial perception, start-up barriers, entrepreneurship climate, and general cultural factors relating to the environment of entrepreneurship development. The results reveal that despite the various economic policies, high level of unwillingness of citizens towards entrepreneurial activity and business venture is rife notwithstanding the high level of unemployment and poverty. The antidote to these challenges would be a rapid entrepreneurship drive among people most affected that would cause them to mind their own business” and become “masters of their own destinies. Given the complexity and massiveness of the challenges, the conclusion shows that a pragmatic solution is required. Therefore, the emancipation of entrepreneurship development in South Africa townships needs attention. The recommended solution is a pragmatic and innovative strategy based on the acronyms NEEDS HELP which stand for Neighbourhood Enhancement and Environmental Development Strategy and Holistic Entrepreneurial Lifestyle Programme. , Thesis (PhD) -- Faculty of Management and Commerce, 2015
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- Date Issued: 2015
An analysis of alternative objective measures of economic performance and social development.
- Authors: Hlanti, Msawenkosi Madoda
- Date: 2014
- Subjects: National income -- Economic aspects -- South Africa -- Evaluation , Economic development -- Social aspects -- South Africa -- Evaluation , Gross domestic product -- South Africa , Sustainable development -- South Africa , Social planning -- South Africa , Economic policy , South Africa -- Social conditions
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1099 , http://hdl.handle.net/10962/d1013144
- Description: The measurement of economic performance and social development has become increasingly important as societies have evolved and become more complex. At present nations do not only seek to improve economic performance but are also compelled to improve social development through improvements in socially and environmentally sustainable initiatives. Traditional measures such as Gross Domestic Product (GDP) which is derived from United Nations’ System of National Accounts (SNA) have been criticised given the inability to adequately account for these social and environmental aspects of social development. Given these perceived deficiencies in the conventional measures, several alternative objective measures have been proposed in an attempt to address these shortcomings. Therefore the primary aim of this study is to analyse, via a literature survey, these alternative objective measures of economic performance and social development. The alternative measures that constitute the survey are the Index of Sustainable Economic Welfare (ISEW), the Genuine Savings (GS), and the United Nations’ Human Development Index (HDI). Upon the completion of the literature survey, sustainable development theory is used to evaluate the extent to which the National Accounts and the alternative objective measures are consistent with Hicksian and Fisherian definitions of income and capital, which embody the concepts of sustainability and sustainable development. The evaluation reveals that the National Accounts neither conform to the Hicksian nor the Fisherian definitions of income, thus could not be viewed as a measure of sustainable income. It is found that the ISEW is consistent with the Fisherian definition of income and is also a partial indicator of sustainable development. The evaluation of the GS measure reveals that it is consistent with the Hicksian definition but not the Fisherian definition. In terms of overall sustainability, it is argued that GS is a partial measure of weak sustainability. The HDI is similar to the National Accounts, in that it is neither consistent with the Hicksian nor the Fisherian definitions of income and is also not a measure of sustainability. In summary, the study demonstrates that despite GDP's shortcomings as a measure of economic performance and social development, currently, there is no alternative approach which simultaneously addresses every flaw in GDP. However, all the alternatives yield a much better approximation of social development than GDP.
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- Date Issued: 2014
An industrial strategy for the South African footwear subsector
- Authors: Ismail, Faizel
- Date: 1993-03
- Subjects: Footwear industry -- Economic aspects -- South Africa , Footwear industry -- South Africa -- Planning , Labour unions -- South Africa , Economic policy
- Language: English
- Type: text , book
- Identifier: http://hdl.handle.net/10962/66033 , vital:28885
- Description: There is an emerging consensus amongst economic policy makers that amongst the most important development problems facing South Africa today are the extremely high unemployment levels (estimated at 40% of the formal labour force) and the need to satisfy the basic needs of South Africa's population (ie, food, shelter, clothing and footwear etc). There is also agreement that in order to achieve these twin objectives it is necessary to obtain positive and increasing economic growth rates. The question of how these high and sustainable economic growth rates can be achieved has spawned an intense debate about South Africa's future growth path. This debate about South Africa's economic future after Apartheid is based on differing evaluations of the opportunities offered by the country's current resource endowments and the constraints inhibiting growth (Moll, 1991a, 1991b; Kaplinsky, 1991; Jordan, 1991, Levy, 1991). Some writers1 have argued that a low wage, labour intensive export strategy is the only way that South Africa can rapidly create employment and meet the needs of international competition (Moll, 1991a). Moll therefore argues that increasing the demand for unskilled labour will benefit the poor most. To compete successfully internationally on the basis of low wages (as Moll suggests) is only possible by increasing relative poverty, resulting in increases in absolute poverty, it has been argued (Kaplinsky, 1992). The recent literature (Amsden, 1989; Wade, 1990) on the success of the East Asian NICs (particularly South Korea and Taiwan) strongly refutes the neo-classical view (Little, 1979; Lai, 1983) that developing countries should grow by exploiting their static Comparative Advantage (CA), that is, exploiting the availability of abundant cheap labour. These writers (Amsden, 1989; Wade, 1990) argue that developing countries can move up the value added chain - making it possible for them to pay relatively higher wages - by selective intervention in the market A recent World Bank study (Levy, 1991) analyses the potential of South Africa's manufacturing sector to move on to a dynamic labour-demanding growth path. In analysing the potential of the Garment Sector (the most labour-intensive sector), Levy (1991) argues that South Africa's international comparative advantage lies in the mid- to-upper end of the world garment industry and expanding expons from this sector will increase employment and allow "moderate increases in real wages". In this paper we develop Levy's proposition - that a labour-demanding expon strategy is possible in South Africa for the Garment subsector - for the Footwear subsector. This study will focus on the Footwear subsector for the following reasons. This is a mature industry which is well-established in South Africa. It still remains labour-intensive and well suited like the garment subsector for a labour demanding growth strategy (Levy, 1992). It has a well developed infrastructure in South Africa. However the relative performance of this sector in comparison to that of countries at similar levels of development (the NICs) has been poor (discussed below). It is striking that Footwear has been a leading export sector for the most dynamic, Developing, as well as, Southern European economies during the 1970s and 1980s (Taiwan, Korea, Brazil, Italy, Spain, Portugal, China). Two sets of questions arise from the above discussion. Firstly, like the manufacturing sector as a whole, the performance of the South Afi can Footwear subsector has been unspectacular during the 1970s and 1980s. Why has ihis been so? What is the capability of the Footwear sector to supply the domestic market and to compete internationally ie, export? What are the implications of this for industrial policy? What incentives have been supplied to support the development of this sector and how effective have they been? What incentives will be required to advance the restructuring and development of this sector? What institutions exist in support of this industry and how can these institutions be developed and extended? Secondly, as South Africa develops a more outward oriented manufacturing strategy, it will have to understand the changing nature of international markets and international competition. How have these markets changed? What is the new basis of international competitiveness? What are the implications for South Africa? The objective of this study is to attempt to answer these two sets of questions. The second set of questions will not be answered in any detail in this study, but will draw extensively on a study undertaken by the author (see Ismail, 1992). Previous attempts at developing an analyses and strategy for the industry have been inward oriented (see Van Wyk's IDC Report, 1988) and ad hoc (BTI, 1990). Whilst Sid Cohn's Strat Plan 2000 has gone furthest in developing a systemic approach to the footwear industry, his focus on subcontracting as the main (labour) cost cutting measure has only served to gloss over the underlying inefficiencies of the industry in the management of raw materials and production. We provide a brief summary and critique of these strategies below before presenting a summary of our argument.
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- Date Issued: 1993-03