African Review of Economics and Finance (AREF)
    • The changing face of Ghanaian towns

      Author: Kwasi Kwafo Adarkwa

      Source: African Review of Economics and Finance, pp 1-29 (Volume 4 2012)

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      The paper argues that the face of Ghanaian towns has changed since the initial contact with the colonialists. Investments in infrastructure, urbanisation and enhanced economic activities have combined to change the face of Ghanaian towns. These changes in turn have affected the quality of urba... Read More

    • The New Frontier in Risk Assessment: Estimation of Corporate Credit Rating Quality in Emerging Markets

      Author: Dylan A. Smith and David Fryer

      Source: African Review of Economics and Finance, pp 89-109 (Volume 4 2012)

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      The expansion of credit rating agencies into emerging markets is examined with respect to the overall quality of informational signals provided by ratings to capital markets. Corporate ratings from six developing economies with relatively sophisticated financial sectors are modeled using order... Read More

    • Redefining the money market

      Author: AP Faure

      Source: African Review of Economics and Finance, pp 129-150 (Volume 4 2012)

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      The money market has traditionally been defined as the market for marketable short-term securities. It has deep historical roots. Today, it is not an illuminating definition. The genesis of interest rates, which is the quintessence of monetary policy implementation, does not originate in marke... Read More

    • Modern macroeconomics: a review of the post 2008/2009 crisis debate

      Author: George Adu and Paul Alagidede

      Source: African Review of Economics and Finance, pp 73-88 (Volume 4 2012)

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      This paper reviews the current debate on the state of modern macroeconomics from methodological standpoint. While some senior figures in economics have argued that modern macroeconomics has gone wayward and thus become irrelevant for policy, others argue otherwise. Methodologically, the fundam... Read More

    • Why African Stock Markets Should Formally Harmonise and Integrate their Operations

      Author: Collins G. Ntim

      Source: African Review of Economics and Finance, pp 53-72 (Volume 4 2012)

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      Despite experiencing rapid growth in their number and size, existing evidence suggests that African stock markets remain highly fragmented, small, illiquid and technologically weak, severely affecting their informational efficiency. Therefore, this study attempts to empirically ascertain wheth... Read More

    • Combating Forced Labour and Human Trafficking in Africa: The Role of Endogenous and Exogenous Forces

      Author: Ambe J. Njoh and Elizabeth N.M. Ayuk-Etang

      Source: African Review of Economics and Finance, pp 30-52 (Volume 4 2012)

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      It is widely believed that indigenous culture and tradition are at the root of the human trafficking and forced labour problem in Africa. Adherents to this viewpoint also claim that endogenous as opposed to exogenous forces impede efforts to eradicate the problem. This study employed a logline... Read More

    • Adaptive Collaborative Approaches in Natural Resource Governance: Rethinking participation, learning and innovation

      Author: Hemant R. Ojha, Andy Hall and Rasheed V. Sulaiman (eds.)

      Source: African Review of Economics and Finance, pp 114-121 (Volume 4 2012)

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      Adaptive Collaborative Approaches in Natural Resource Governance:
      Rethinking participation, learning and innovation has been written with the intent
      to advance the understanding of the diverse challenges that confront practitioners
      of Adaptive Collaborative Approaches (ACA) a... Read More

    • The Leaderless Revolution: How Ordinary People will take Power and Change Politics in the 21 st Century

      Author: Simon and Schuster

      Source: African Review of Economics and Finance, pp 122-125 (Volume 4 2012)

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      The Leaderless Revolution is an easy read, easy to carry around and easy to understand the argument of the author, a former senior British diplomat.

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    • Food and Development

      Author: Young, E.M.

      Source: African Review of Economics and Finance, pp 126-128 (Volume 4 2012)

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      This is a very timely book. Not only is food exploding as a social science
      issue, but also food is perhaps the most important development issue, if not global
      issue, of our time, particularly since, as Young points out, the production and
      consumption of food has integral link... Read More

    • Natural Resources, Conflict, and Sustainable Development: Lessons from the Niger Delta

      Author: Okechukwu Ukaga, Ukoha O. Ukiwo and Ibaba Samuel Ibaba (eds.)

      Source: African Review of Economics and Finance, pp 110-113 (Volume 4 2012)

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      Why does the abundance of natural resources typically lead to poor utilisation and damaging effect on economy, polity, and society? Attempts to address this question dates back to the days of the classical economists. Posited reasons were diverse, ranging from institutional to psychological fa... Read More

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