The Finance Growth Link: Comparative Analysis of Two Eastern African Countries

This paper examines the finance growth link of two low-income Sub-Saharan African economies – Ethiopia and Kenya – which have different financial systems but are located in the same region. Unlike previous studies, we account for the role of non-bank financial intermediaries and formally model the effect of structural breaks caused by policy and market-induced economic events. We used the Vector Autoregressive model (VAR), conducted impulse response analysis and examined variance decomposition. We find that neither the level of financial intermediary development nor the level of stock market development explains economic growth in Kenya. For Ethiopia, which has no stock market, intermediary development is found to be driven by economic growth. Three important inferences can be made from these findings. First, the often reported positive link between finance and growth might be caused by the aggregation of countries at different stages of economic growth and financial development. Second, country-specific economic situations and episodes are important in studying the relationship between financial development and economic growth. Third, there is the possibility that the econometric model employed to test the finance growth link plays a role in the empirical result, as we note that prior studies did not introduce control variables

Enhancing the Quality of Teaching and Learning in Disadvantaged Contexts: Re-imagining the Teacher’s Role

Until recently, focus in South African schools has been on changing curricula, and in particular introducing learnercentred approaches as well as training practising teachers through in-service programmes. However, concern is now shifting to the ineffectiveness of the training programmes in equipping teachers to teach effectively, particularly in disadvantaged contexts. These contexts will continue to exist hence the need to empower teachers to effectively navigate contextual constraints and improve the quality of education. This paper explores the extent to which teachers working in deprived contexts seek to improve the quality of learning and teaching by re-imagining their roles. The unit of analysis is a group of ten teachers of English First Additional Language a year after they completed an in-service course, Subject Didactics English, run by the University of South Africa. Findings reveal that for numerous reasons, teachers are too overwhelmed by contextual challenges to seek creative ways to overcome disadvantage.Keywords: English First Additional Language, Re-imagining, Teacher’s Role, Quality of Learning and Teaching, Disadvantaged Contexts, Agenc

Developing a framework for managing the quality use of podcasts in open distance and e- learning environments

The integration of podcasts in an open distance e-learning environment can play a crucial role in reducing transactional distance through providing quality educational opportunities and access to information through any digital devise. However, technology does not improve teaching, unless if there is a well-conceived educational process taking place. The question therefore is how lecturers can be guided towards the quality use of podcasts in order to achieve most of the learning objectives. Therefore, this paper aims to design and develop a framework that manages the quality use of podcasts for teaching and learning in ODeL environments. Using literature review, a developmental qualitative research design was used to develop a framework. McGarr’s (2009) and the revised Bloom’s taxonomy (Anderson et al., 2001) were used as domain specific guiders in the development of the framework. Results provided a framework to guide academic developers, learning technologists and course designers interested in quality in online environments

Stock market liberalization and the cost of equity capital: An empirical study of JSE listed firms

Student Number : 0300191P - PhD thesis - School of Accountancy - Faculty of Commerce, Law and ManagementThe main objective of the study has been to provide new insights into ongoing recent studies examining the impact of stock market liberalization at both macro and micro (firm) levels. The study focused on a single country, South Africa, whose exchange, the Johannesburg Stock Exchange (JSE), liberalized in the 1990s. Consistent with empirical evidence from other studies the study finds support at market, firm and sectoral level for the prediction by international asset pricing models that stock market liberalization reduces the cost of capital. More important, the study makes five major contributions to the literature on the impact of stock market liberalization in emerging markets. First, it demonstrates that some emerging market specific risks such as political and economic risks can act stronger binding constraints to foreign investment than direct legal barriers which foreign investors are frequently able to circumvent. The second contribution is the observation that there are some firms (in the minority however) that will experience a significant increase in the cost of capital following liberalization, a situation where the local price of risk is higher than the global price of risk, contrary to international asset pricing theory. The third contribution is that it has been empirically proved that the reduction in firms’ cost of capital following stock market liberalization is permanent. It is not a transitory phenomenon. The fourth contribution of the study highlights the influence of firm specific characteristics such as size of the firm, book-to-market ratios and leverage ratios on firms’ response to impact of stock market liberalization. The preference for large firms by foreign investors is supported, contrary to Merton’s (1987) recognition hypothesis, and hence highlights the inconclusiveness of the debate on whether stock market liberalization benefits both large firms and small firms. The fifth contribution is the observation that the effective liberalization date is not the same for all firms but varies from firm to firm

Determinants of Migrants’ Savings in the Host Country: Empirical Evidence of Migrants living in South Africa

The paper uses a data set of Zimbabwean migrants living in South Africa to investigate the saving behaviour they exhibit in the host country. Having observed that these migrants comprise those that do save in the host country and those that do not save at all, the paper employs a Tobit function that is capable of modelling the savings level as function of migrant characteristics. The results observed are that the level of migrant savings in the host country is positively related to migrant income level, return migration intentions, number of dependents in the host country, remittance level and access to banking services, and is negatively related to the age of the migrant, number of dependents in the home country, migrant length of stay, migrant legal status, and frequency of home visits. Interestingly, the savings behaviour of migrants in the host country mirrors the remittance behaviour in many respects

Investigating the use of podcasts in an open, distance and e-learning environment

In a world where the podcast stands out as one of the important support technologies for online learning, lecturers face great challenges in the delivery of podcasts in a qualitative and productive way. The introduction of podcasts into distance teaching and learning has often failed to meet the expected outcomes, and the educational landscape (Dede, 2008) contains evidence of students who have been unable to benefit from this innovation. Therefore, the aim of this paper was to explore the types of podcasts that lecturers at an open and distance an e-learning institution use for teaching and learning in the courses they teach. The focus was to explore how lecturers can use high-quality podcasting to meet students learning expectations in open, distance and e-learning institutions. A total of 431 podcast scripts (generated during staff development) for different modules, departments and subjects at the University of South Africa (UNISA) were collected for data use. The number of podcasts per purpose or type were tallied and recorded. The purposes of podcasts that were missing from the podcast scripts were identified through literature study and then used for a comparative discussion in the results. Results provided readers with a snapshot of how a particular distance education and e-learning institution uses podcasts for teaching and learning. The paper offers guidance to a better utilisation of podcasts in open, distance and e-learning environments in higher education institutions

Logics used to justify urban appropriations: An examination of waste picking in Tshwane

There is a proliferation of scholarship based upon the experiences of southern cities. This study contributes by developing ideas rooted in the practices and norms of residents of the global south. It utilizes waste picking as a topic through which to investigate urban informal activities. Through qualitative methods, I gathered data over a 6-month period in Tshwane, South Africa where I observed the actors, situations and activities that comprise waste picking. I also explored the various conflicts between waste pickers and different actors, as well as the adjudication processes. While literature portrays informal waste picking as one of the least desirable occupations, I investigate the complex decision making processes, which create pathways into the profession and the decision to remain despite the associated stigma. High and increasing numbers, and other potential informal work opportunities suggest there might be other logics used to rationalize engagement in this work. In this dissertation, I argue that waste pickers are guided by logics beyond simple opportunism to meet their daily needs. In order to make this argument, I utilize an emergent framework, agonistically transgressive appropriations, which I argue may provide new grounds from which to theorize urban appropriations and informality. I found that many waste pickers in fact earn more money in comparison to other informal jobs. Critically, many chose to pick waste because of consistent earnings, despite the poor working conditions. Critically, I found there are codes and norms which govern the waste picking, but these are not agreed upon or universal; I elaborate on these codes and norms in this dissertation. These findings have implications for how we understand waste picking and informal activities. My study demonstrates the manner in which conceptual viewpoints from southern cases can contribute to a better understanding of urban geography

Identifying Criteria to Predict Army Rifle Marksmanship Proficiency

The United States Army requires each Soldier to develop marksmanship proficiency in an effort to achieve combat readiness. Soldiers currently develop marksmanship proficiency through Basic Rifle Marksmanship (BRM) training, but significant skill deficiencies are apparent at the end of training. These skill deficiencies remain throughout training because instructors rarely assess Soldiers objectively before the final qualification, reducing the opportunity for instructors to diagnose skill deficiencies until it is too late. Therefore, the goal of the current research is to identify individual differences and sensor-based performance measures for inclusion in a formative assessment during BRM training. The results of the current study found several variables that predicted marksmanship qualification scores. These findings bring research one step closer to identifying skill deficiencies and individual needs prior to training. However, more research is needed to maximize the understanding and improvement of marksmanship performance and, in turn, improve overall combat readiness

The role of dress style for senior women in a corporate consulting firm

M.Phil. (Leadership in Performance and Change)Studies by numerous authors such as Damhorst, Jondle, and Youngberg (2005), Damhorst (2005), Hymowitz (2005), Miller-Spillman (2005), Peluchette, Karl, and Rust (2006), Rafaeli, Dutton, Harquail, and Mackie-Lewis (1997), Rafaeli and Pratt (1993), and Schmalz (2000a) have corroborated the belief that appearance and dress style are important and significant factors in a person’s career progression. This is because people are often judged on their outward appearance in the first four to 10 seconds of the first interaction. Additionally, the way women dress is scrutinised more than men because of pre-existing notions about what constitutes masculinity and femininity (Kalkowski & Fritz, 2004; Omair, 2009). Rarely are these first impressions changed, and often the decision for future interactions are made based on these first impressions. There may also be an impact on women’s career progression due to the opinions of their co-workers, partly based on the women’s dress style

Trends In Credit To Smallholder Farmers In South Africa

Access to credit for smallholder farmers remains a challenge in most developing countries. This paper examines the trend and pattern of bank credit to smallholder farmers in South Africa, both before and after the attainment of democratic government. The analysis of the trend and pattern of bank credit to smallholder farmers was conducted within the confines of the same agricultural sector, across all economy sectors and in relation to GDP. Our analyses show that bank credit to smallholder farmers is (and continues to be) a small fraction of total credit to the private sector and is a very small proportion of GDP. The smallholder farmer sector is observed to face the same constraints to credit as SMEs, a category of enterprises to which they also belong. In light of the importance of agriculture, in general, and smallholder farmers, in particular, to South Africa’s poverty alleviation and food security drive, our results have important policy implications