African Review of Economics and Finance (AREF)
    • Mapping the National System of Innovation in Eswatini

      Author: TengeTile G Hlophe and Thula Sizwe Dlamini

      Source: African Review of Economics and Finance, pp 10 - 43 (Volume 10 Issue 2, December 2018)

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      This study maps the national system of innovation (NSI) in Eswatini using national research and experimental development (R&D), and innovation surveys. The study identifies the actors and activities in the NSI. It finds that investment in knowledge creation is very low; expenditure on R&D is 0.26... Read More

    • Quantifying the size and trends of the shadow economy in the Kingdom of Eswatini

      Author: Mcebo Zikalala1 and Thabo Sacolo

      Source: African Review of Economics and Finance, pp 44 - 68 (Volume 10 Issue 2, December 2018)

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      There is a growing body of literature about the drivers, size, and trends of the shadow economy. This paper quantifies the size and assesses the trends of the shadow economy in Eswatini over a period of 16 years. Using gross domestic product as a development indicator and other macroeconomic vari... Read More

    • Predictors of food insecurity in Eswatini: Lessons from the 2015/16 El Niño induced drought

      Author: Mangaliso Mohammed and Thembumenzi Diamini

      Source: African Review of Economics and Finance, pp 69 - 96 (Volume 10 Issue 2, December 2018)

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      The study investigates the predictors of food insecurity among households in Eswatini given the 2015/16 El Niño induced drought. To identify the geographic and socioeconomic factors that predict food insecurity during a drought in Eswatini, the study uses a logistic regression. The logistic regre... Read More

    • The economic costs of electrical power outages in Eswatini

      Author: Tanele Magongo and Thabo Sacolo

      Source: African Review of Economics and Finance, pp 97 - 119 (Volume 10 Issue 2, December 2018)

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      Eswatini has been experiencing power outages that have muted the country’s efforts to increase access to electricity. As it stands, electricity supply is unreliable which has resulted in harsh penalties and costs to the economy. Using a sample of customers from both the residential and business s... Read More

    • Does financial development mean financial inclusion?. A causal analysis for Eswatini

      Author: Nolwazi Hlophe

      Source: African Review of Economics and Finance, pp 120 - 133 (Volume 10 Issue 2, December 2018)

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      The purpose of this paper is to undertake a causal analysis for Eswatini, which examines whether financial development causes increased financial inclusion. Through Engle & Granger (1987) cointegration analysis, the existence of a long run relationship between the dependent variable, financial in... Read More

    • Determinants of foreign exchange reserves in Eswatini: An ARDL approach

      Author: Melvin Khomo, NomFundo Mamba, and Luleme Matsebula

      Source: African Review of Economics and Finance, pp 134 - 150 (Volume 10 Issue 2, December 2018)

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      Using the autoregressive distributed lag (ARDL) bounds testing cointegration method, the paper models the behaviour of Eswatini’s foreign exchange reserves over the period 1990-2014. An augmented buffer stock model is applied and the results indicate that foreign exchange reserves in Eswatini are... Read More

    • Evolution of trade in Eswatini from 1968 to 2015: A developmental perspective

      Author: Thabo Sacolo, Mangaliso Mohammed and Thembumenzi Dlamini

      Source: African Review of Economics and Finance, pp 151 - 168 (Volume 10 Issue 2, December 2018)

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      Using data from 1968 to 2015, this paper presents an assessment of the evolution of trade in the Kingdom of Eswatini, tracking changes in the composition of both import and export commodities. These changes are viewed in light of the institutional development, trade relations, and infrastructure ... Read More

    • Economic benefits of technical vocational education and training in the Kingdom of Eswatini: A case of the national handicraft training centre

      Author: G. Mgabhi and M. Mohammed

      Source: African Review of Economics and Finance, pp 169 - 192 (Volume 10 Issue 2, December 2018)

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      This study estimates the economic benefits of the Government of Eswatini and its development partners’ investment into the National Handicraft Training Centre (NHTC). Using NHTCs student database from 1995 to 2015, the study tracks graduates from the Centre to assess the demand and absorbability ... Read More

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