African Review of Economics and Finance (AREF)
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- The Virtues of Vishnu: Reflecting on the monetary policy contributions of Professor Vishnu Padayachee
Author: Bradley Bordiss and Jannie Rossouw
Source: African Review of Economics and Finance, pp 1-15 (Volume 14 Issue 2, December 2022)
Read MoreThis 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
- Urbanisation and economic growth causal nexus: evidence from panel data analyses of selected positively urbanizing countries in Sub-Saharan Africa
Author: Solomon Ahimah-Agyakwah, Edward Nketiah-Amponsah and Frank Agyire-Tettey
Source: African Review of Economics and Finance, pp 16-36 (Volume 14 Issue 2, December 2022)
Read MoreThe 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
- Determinants of Comparative Advantage and its Dynamic Relationship with Trading Partners: The Case of Egypt
Author: Yara Elsehaimy and Hebatallah Ghoneim
Source: African Review of Economics and Finance, pp 37-53 (Volume 14 Issue 2, December 2022)
Read MoreEgypt 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
- On the Contribution of Banks and Other Financial Services to Systemic Risk in an Era of Revolution: Fresh Insights from Tunisia
Author: Dorsaf Azouz Ghachem and Safa Benthabet
Source: African Review of Economics and Finance, pp 54-73 (Volume 14 Issue 2, December 2022)
Read MoreIn 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
- A SVEC Model of Monetary Policy and International Trade in Nigeria
Author: Ibitoye J. Oyebanji and Ewert P. J. Kleynhans
Source: African Review of Economics and Finance, pp 74-87 (Volume 14 Issue 2, December 2022)
Read MoreThe 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
- The Impact of Capital Flight on Domestic Investment: Empirical Evidence from South Africa
Author: Atoko Kasongo
Source: African Review of Economics and Finance, pp 88-102 (Volume 14 Issue 2, December 2022)
Read MoreCapital 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
- Do actively managed mutual funds deliver positive risk adjusted performance in emerging markets? The case of South African equity unit trusts
Author: Francois Toerien, Mohammed Badat and Nicholas Zille
Source: African Review of Economics and Finance, pp 103-118 (Volume 14 Issue 2, December 2022)
Read MoreAs 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
- Are social protection grants alleviating poverty among vulnerable groups in Namibia? – The case of older persons and persons with disabilities
Author: Elina M. Amadhila and Tuliky Shawapala
Source: African Review of Economics and Finance, pp 119-141 (Volume 14 Issue 2, December 2022)
Read MoreThe 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
- COVID-19 lockdown defiance, public ‘indiscipline’, and criminalisation of vulnerable populations in Ghana
Author: Festival Godwin Boateng, Saviour Kusi and Samuel Ametepey
Source: African Review of Economics and Finance, pp 142-158 (Volume 14 Issue 2, December 2022)
Read MoreBehavioural 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
- The influence of inequality, institutional quality, and foreign aid on inclusive growth in Africa
Author: Easmond Baah Nketia, Yusheng Kong, Benjamin Korankye, and Sabina Ampon-Wireko
Source: African Review of Economics and Finance, pp 160-182 (Volume 14 Issue 2, December 2022)
Read MoreGrowing 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
- The banking crisis in Ghana: Causes and remedial measures
Author: Nathaniel Blankson, Godfred Amewu, and Ebenezer Bugri Anarfo
Source: African Review of Economics and Finance, pp 183-200 (Volume 14 Issue 2, December 2022)
Read MoreThis 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, 2021, Franklin Obeng-Odoom, University of Toronto Press, i–xv + 264 pp. ISBN: 9781487513900
Author: Review by: Juliette Alenda-Demoutiez*
Source: African Review of Economics and Finance, pp 201-203 (Volume 14 Issue 2, December 2022)
Read MoreThe 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
- Exchange Rate Regime Choice and Economic Growth:
An Empirical Analysis on African Panel Data
Author: Anass Abouelkhair and Yasser Y. Tamsamani
Source: African Review of Economics and Finance, pp 18-35 (Volume 14 Issue 2, December 2022)
Read MoreThe 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
- From Speculation to Survival Technique - The Role of
Bitcoin in Different Economic Circumstances Based on
the Analysis of Selected African Countries
Author: Agata Kliber and Katarzyna Swierczynska
Source: African Review of Economics and Finance, pp 1-20 (Volume 15 Issue 2, December 2023)
Read MoreThe article aims to reveal that the relationship of the bitcoin-derived exchange rate with the inflation level in a crisis-driven economy allows the citizens to use bitcoin as a “survival” asset. We analyse data on bitcoin transactions in local currencies of selected African economies (Ghana, K... Read More
- The role of tourism development in improving
environmental quality in South Africa: Insights from
novel dynamic ARDL simulations approach
Author: Maxwell Chukwudi Udeagha and Nicholas Ngepah
Source: African Review of Economics and Finance, pp 21-44 (Volume 15 Issue 2, December 2023)
Read MoreOne approach to tackling environmental problems and achieving environmental sustainability goals is to boost the tourism industry, but this paradigm is also contested. Using the recently developed novel dynamic autoregressive distributed lag (DARDL) simulations framework, this study evaluates t... Read More
- Foreign Direct Investment by Emerging Market
Multinationals in Africa: Impact on Domestic Capital
Formation
Author: Zelealem Yiheyis, Emmanuel Cleeve and Valeria Andreoni
Source: African Review of Economics and Finance, pp 45-62 (Volume 15 Issue 2, December 2023)
Read MoreForeign direct investment (FDI) flows within developing countries are rising. This article investigates whether FDI from emerging markets (EM) contributed to the domestic capital formation in Africa and how this compares to flows from developed countries. Fixed-effect estimates, based on panel ... Read More
- Are Children From Financially Included Households
Less Likely to Work?
Author: Sylvanus Gaku
Source: African Review of Economics and Finance, pp 64-82 (Volume 15 Issue 2, December 2023)
Read MoreSeveral factors including poverty, productivity shocks, labor market imperfections and parental education account for the incidence of child labour. However, little is known about the impact of financial inclusion on children’s propensity to work in the Ghanaian context. Using ordinary least sq... Read More
- The Competitiveness of Nigeria’s Exports: Does the
Choice of Exchange Rate Regime Matter?
Author: Adamu Waziri Babagana
Source: African Review of Economics and Finance, pp 83-100 (Volume 15 Issue 2, December 2023)
Read MoreThis study examines the extent to which the exchange rate regime affect the competitiveness of exports in Nigeria between 1987 to 2019. The study employed the Auto Regressive Distributed Lag (ARDL) model to assess the short-run and long-run changes in competitiveness in response to the exchange... Read More
- Impact of Loan Portfolio Characteristics on
Microfinance Institutions: The Case of Morocco
Author: Tahar Harkat, Samir Aguenaou, Jawad Abrache and Zakaria Ez-zarzari
Source: African Review of Economics and Finance, pp 101-121 (Volume 15 Issue 2, December 2023)
Read MoreThis paper identifies how loan portfolio characteristics impact the financial performance and sustainability of Moroccan microfinance institutions (MFIs). Using the Mix Market dataset, fixed and random panel regression models were adopted to analyze six Moroccan MFIs between 2003 and 2018. Thes... Read More
- The Moderating Roles of The Internal and External
Corporate Governance Mechanisms on The
Performance of Non-Financial Listed Firms in Nigeria
Author: Iwora Godfrey Agara and Lesley Stainbank
Source: African Review of Economics and Finance, pp 122-141 (Volume 15 Issue 2, December 2023)
Read MoreThis study extends the growing body of research that explores the relationship between corporate governance compliance and the performance of the firm by examining the Nigerian context with respect to the listed non-financial firms from 2012 to 2019. This study developed the first unique NCGCI ... Read More
- Fundamental Sources of Risk in Frontier Equity Markets
Author: Wycliffe Nduga Ouma
Source: African Review of Economics and Finance, pp 142-161 (Volume 15 Issue 2, December 2023)
Read MoreAsset pricing has attracted innumerable attention from many stakeholders in capital markets. However, a considerable lack of consensus exists regarding the full list and identity of risk factors and the ability of the already studied risk factors to optimally price risk. This problem is pronoun... Read More
- Smooth Transitioning Growth in Malawi: The Role of
Economic Policy
Author: Ronald Mangani
Source: African Review of Economics and Finance, pp 162-177 (Volume 15 Issue 2, December 2023)
Read MoreMalawi adopted orthodox neoliberal economic policies in 1981 to replace Keynesian-based demand management, developmental state, and protectionist policies. However, the sub-period from 2004 to 2012 witnessed some reversion to elements of the pre-liberalisation period. This paper analyses the re... Read More
- Analysis of Factors Affecting the Performance of
Moroccan Exports
Author: Tahar Harkat, Samir Aguenaou, Jawad Abrache and Anas Saoudi
Source: African Review of Economics and Finance, pp 178-196 (Volume 15 Issue 2, December 2023)
Read MoreThis study uses the autoregressive distributed lag (ARDL) technique and the error correction model (ECM) to investigate the long-run and short-run associations between export performance and macroeconomic variables in Morocco. These macroeconomic variables are GDP growth, real effective exchang... Read More
- Verifying the Tunisian exchange regime stability in the
post-revolution period by state-space models and
high-frequency data
Author: Mohamed Bouabidi
Source: African Review of Economics and Finance, pp 197-214 (Volume 15 Issue 2, December 2023)
Read MoreThe 2010-2019 period was marked by a steady depreciation of the Tunisian Dinar (TND) against the two major international currencies: a depreciation rate of 95% against the United States Dollar (USD) and 63% against the euro (EUR). To examine whether this depreciation is caused by a discrete man... Read More
- COVID-19 and Trade in Zimbabwe: An Auto-Regressive
Distributed Lag (ARDL) Analysis
Author: Regret Sunge
Source: African Review of Economics and Finance, pp 215-231 (Volume 15 Issue 2, December 2023)
Read MoreThis study examined the impact of COVID-19 pandemic on trade in Zimbabwe for the period 03/2020 to 06/2022. The pandemic necessitated the enforcement of lockdown measures. Prudent as they are, they brought several socio-economic problems. However, during this period, trade outperformed the pre... Read More
- Ecological Imperialism, Development, and the
Capitalist World-System: Cases from Africa and Asia,
Mariko Lin Frame 2022, Routledge, ISBN
9780367204105 (Hardcopy), 224 pp.
Author: Alizee Ville
Source: African Review of Economics and Finance, pp 232-235 (Volume 15 Issue 2, December 2023)
Read Moren her book Ecological Imperialism, Development, and the Capitalist World-System, Mariko Lin Frame, assistant professor of economics, attempts to demonstrate how the dynamics of the global economy are driving environmental degradation and perpetuating inequalities in the Global South. At a time... Read More
- The Virtues of Vishnu: Reflecting on the monetary policy contributions of Professor Vishnu Padayachee