African Review of Economics and Finance (AREF)
    • In defence of post-Keynesian and heterodox economics - responses to their critics

      Author: Frederic S. Lee and Marc Lavoie

      Source: African Review of Economics and Finance, pp 150-152 (Volume 6 Issue 2, December 2014)

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      The self-declared purpose of this collection of essays is to offer a 'systematic response'(p. xiii) to a number of critical claims by Colander and others, regarding the value of heterodox approaches to economics. The focus on Colander’s contributions is important because of his past wide... Read More

    • Development dilemmas: The methods and political ethics of growth policy

      Author: Melvin Ayogu and Don Ross

      Source: African Review of Economics and Finance, pp 144-149 (Volume 6 Issue 2, December 2014)

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      Improving human welfare has long been considered a goal worth pursuing.
      Consequently, policy makers and practitioners have devoted an enormous amount of time and resources to promoting high standards of living. Over the past century or so, economics has established itself as the dominant ... Read More

    • Economics of the 1%: How mainstream economics serves the rich, obscures reality and distorts policy

      Author: John Weeks

      Source: African Review of Economics and Finance, pp 141-143 (Volume 6 Issue 2, December 2014)

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      Mainstream economics is in a sorry state. Books and articles criticising it have proliferated in recent years. Students are grumbling about its evident incapacity to illuminate the troubled world in which they live

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    • Good governance in the era of global neoliberalism: Conflict and depolitisation in Latin America, Eastern Europe, Asia and Africa

      Author: Jolle Demmers, Alex E. Fernández Jilberto and Barbara Hogenboom

      Source: African Review of Economics and Finance, pp 161-164 (Volume 6 Issue 2, December 2014)

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      Good governance in the era of global neoliberalism: Conflict and depolitisation in Latin America, Eastern Europe, Asia and Africa is a compilation of case studies. The authors argue that the very foundation of good governance initiatives may be misguided. The book provides a critique of the th... Read More

    • Nomads in the shadows of empires

      Author: Gufu Oba

      Source: African Review of Economics and Finance, pp 157-160 (Volume 6 Issue 2, December 2014)

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      This book about nomadic tribes in the frontier of two countries, namely Ethiopia and Kenya, deals with the impacts of two contesting Empires – Ethiopia, which had not yet transformed to a fully developed nation-state and faces thousands of drawbacks, and the British Empire, which was hig... Read More

    • Politics, disability and social inclusion: People with different abilities in the 21st century

      Author: Peter Gibilisco

      Source: African Review of Economics and Finance, pp 153-156 (Volume 6 Issue 2, December 2014)

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      Policy makers cannot help but be touched to reconsider their policies for persons with disabilities (different abilities) as they read this book. They will literally be walking side by side with Dr Gibilisco as he recounts the story of his life to make his voice heard for social inclusion. His... Read More

    • Regional integration and social cohesion: Perspectives from the developing world

      Author: Candice Moore, Brussels P. I.E and Peter Lang

      Source: African Review of Economics and Finance, pp 165-169 (Volume 6 Issue 2, December 2014)

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      This book is a significant contribution to the relatively unexplored relationship between social cohesion and regional integration in the developing world. Candice Moore, the editor, bemoans the woeful underrepresentation in the academy of the African Union’s (AU) social development prog... Read More

    • Community-based forest management in Côte d’Ivoire: A theoretical investigation

      Author: Wadjamsse Beaudelaire Djezou

      Source: African Review of Economics and Finance, pp 1-21 (Volume 6 Issue 2, December 2014)

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      This article investigates the factors that lead to a sustainable management of protected forest by analysing the joint-management policy implemented by forestry authorities through a bio-economic model. A dynamic optimisation technique in continuous time has been used to derive results that ex... Read More

    • Adoption of financial innovation in the Ghanaian banking industry

      Author: Daniel Domeher, Joseph M. Frimpong And Thomas Appiah

      Source: African Review of Economics and Finance, pp 88-114 (Volume 6 Issue 2, December 2014)

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      This century has been full of innovations: new technologies, new products, new services and a plethora of new industries have emerged. Yet the call for innovation in business, especially in financial services, has never been more intense. Although research on this topic exists, there is no emp... Read More

    • Do IPOs underperform in the long run? Evidence from the Johannesburg Securities Exchange (JSE)

      Author: Brownhilder Ngek Neneh and Van Aardt Smit

      Source: African Review of Economics and Finance, pp 22-42 (Volume 6 Issue 2, December 2014)

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      This article examines the three-, five- and ten-year long-run performance of initial public offerings (IPOs) on the Johannesburg Securities Exchange (JSE). The Buy and Hold Abnormal Return (BHAR) and the Cumulative Abnormal Return (CAR) methods were used to calculate the IPO long-run performan... Read More

    • The effect of funding strategy on the lending patterns of banks in Ghana

      Author: Angela Azumah Alu,Mohammed Amidu, K. A. Osei and Ransford Kuipo

      Source: African Review of Economics and Finance, pp 43-68 (Volume 6 Issue 2, December 2014)

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      This article examines the effect of funding strategy on the lending patterns of banks in Ghana. We employ a panel dataset of banks from 2005 to 2011, to analyse the impact of funding sources on three sets of lending patterns employed by banks: Primary, secondary and tertiary economic sectors. ... Read More

    • Real exchange rate misalignment and economic performance in Sudan

      Author: Ebaidalla Mahjoub Ebaidalla

      Source: African Review of Economics and Finance, pp 115-140 (Volume 6 Issue 2, December 2014)

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      This article investigates the behavior of equilibrium exchange rate and real exchange rate cointmisalignment in Sudan over the period 1979–2009. In addition, the impact of real exchange rate misalignment on economic performance is examined. The empirical results show that the equilibrium... Read More

    • Explaining weak financial development in Africa

      Author: Michael Gwama

      Source: African Review of Economics and Finance, pp 69-87 (Volume 6 Issue 2, December 2014)

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      This study seeks to determine the causes of weakness in financial system development on the African continent. The research specifically investigates whether endowments theory, inequality, openness and remittances explain Africa’s financial (under)development. Using Generalized Method of... Read More

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