African Review of Economics and Finance (AREF)
    • Is the repo a derivative?

      Author: Pierre Faure

      Source: African Review of Economics and Finance, pp 194-206 (Volume 2 2011)

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      An explanation of a derivative instrument (forward, future, swap, option, etc) generally encompasses that the instrument is derived from, i.e. is based on, certain, or aspects of certain, financial market instruments, and takes its value largely from these or other instruments or markets. Expl... Read More

    • The South African yield curve as a predictor of economic downturns: an update

      Author: Richard Clay and Gavin Keeton

      Source: African Review of Economics and Finance, pp 167-193 (Volume 2 2011)

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      This study re-examines the yield curve’s forecasting abilities in South Africa and investigates its ability to predict the most recent economic downturn of 2007/09. The study builds on the earlier work of Nel (1996) and Aziakpono and Khomo (2007) who found that the yield curve does accur... Read More

    • The Measurement and Determinants of Economic Efficiency of Microfinance Institutions in Ghana: A Stochastic Frontier Approach

      Author: Eric Fosu Oteng-Abayie, Kofi Amanor and Joseph Magnus Frimpong

      Source: African Review of Economics and Finance, pp 149-166 (Volume 2 2011)

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      Microfinance institutions have become central players in socio-economic development especially in developing countries. This paper investigates empirically the economic efficiency of microfinance institutions in Ghana using a Cobb-Douglas Stochastic frontier model. A total of 135 MFIs were sam... Read More

    • Does Non-farm Income Improve or Worsen Income Inequality? Evidence from Rural Ghana

      Author: Bernardin Senadza

      Source: African Review of Economics and Finance, pp 104-121 (Volume 2 2011)

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      This paper uses nationally representative household survey data of 2006 to examine the effect of non-farm income on income inequality in rural Ghana. Employing the Gini-decomposition technique, results indicate that aggregate non-farm income increased income inequality among rural households i... Read More

    • Assessment of the Impact of Oil: Opportunities and Challenges for Economic Development in Sudan

      Author: Samia Satti Osman Mohamed Nour

      Source: African Review of Economics and Finance, pp 122-148 (Volume 2 2011)

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      This paper assesses the effect of oil on economic development in Sudan and discusses related opportunities and challenges. We provide a comprehensive analysis using the most recent secondary data, with a view to clarifying the positive and negative effects of oil on Sudan’s economic... Read More

    • The Impact of Corporate Board Meetings on Corporate Performance in South Africa

      Author: Collins G. Ntim and Kofi A. Osei

      Source: African Review of Economics and Finance, pp 83-103 (Volume 2 2011)

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      We investigate the impact of corporate board meetings on corporate performance for a sample of 169 listed corporations from 2002 to 2007 in South Africa (SA). Our findings suggest a statistically significant and positive association between the frequency of corporate board meetings and corpora... Read More

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