This paper reflects on the monetary policy contributions of Professor Vishnu Padayachee. He passed away on 29 May 2021, but his legacy has been enduring. Padayachee’s research interests were wide-ranging. Our focus in this paper is Padayachee’s contributions to monetary policy and central banking... Read More

The urbanisation process in Sub-Saharan Africa (SSA) has often been highlighted as a puzzle that deviates from the stylized facts in the literature. This study investigates the causal nexus between urbanisation and economic growth from the two dominant viewpoints in the literature viz. urbanisati... Read More

Egypt is a promising market. It is full of auspicious economic opportunities for investments. These can be found in natural resources and low-cost labour sectors, which are considered scarce resources in many countries in the Global North. The theory of comparative advantage plays a vital role in... Read More

In this paper, we approach the systemic risk of the Tunisian financial system in the broad sense, that means the impact of a financial market downturn on financial firms’ recapitalization. We adopt the SRISK methodology to measure the capital shortfall a firm could experience conditional on a fin... Read More

The development of the monetary theory of balance of payment was from the balance of payment theory which is mainly in the context of a closed economy. Whereas, the Mundel-Fleming model was coined from the IS-LM model for an open economy. Mundel- Fleming model argues that to achieve economic stab... Read More

Capital flight has been a significant source of concern for many emerging countries. However, most of the debate on international capital flows focuses on examining the effects of foreign capital flows on economic growth. Thus, the implications of capital flight and its impact on domestic investm... Read More

As passive investing gains traction, an important question is whether active fund manager performance justify the fees charged. South Africa’s investment industry is arguably the most developed in Africa, and this study therefore investigates whether actively managed South African equity unit tru... Read More

The current discussions in the literature related to social protection grants are general. The lack of specificity inhibits targeted interventions. This study aimed to explore whether, and how, social protection as a financial aid in the form of grants, assists in alleviating poverty (absolute po... Read More

Behavioural economics has provided much source of inspiration for public policy in the COVID-19 era. Such is evidently the state of discussion in Ghana, where Ghanaians’ so-called stubborn resistance to positive behavioural change is increasingly the target of public and popular criticisms. This ... Read More

Growing inequality in Africa warrants continuing research. This study concentrates on the impact of institutional quality, income inequality, and foreign aid on inclusive growth in 48 countries in Africa spanning 2002 to 2018. By adopting the two-step system generalised method of moments (Sys-GMM... Read More

This study examines the causes and remedial measures of the ongoing banking crises in Ghana using cross-sectional survey research. The respondent agreed that the bank-specific causes include poor corporate governance practices, severe capital impairment, severe liquidity impairment, high non-perf... Read More

The Commons in an Age of Uncertainty: Decolonizing Nature, Economy, and Society is a thorough demonstration of the problem of western-centered analyses in the political economic and economics disciplines. Even if used with the best intentions, the concept of commons in these western frameworks is... Read More

The purpose of this paper is twofold. First, for a large panel of African countries, the thesis of currency neutrality is tested and the exchange rate regimes are classified according to their economic performance. Second, it seeks to identify the economies structural characteristics associated... Read More