Financial Bubbles : New Evidence from South Africa’s Stock Market

We provide new empirical evidence of bubbles timing in the stock market of South Africa. We apply the generalized sup ADF (GSADF) unit root test of Phillips et al. (2015) to monthly share prices from January 1960 to July 2019, to detect explosive behaviors. Results indicate that, overall, South Africa’s stock market has been exuberant during the period 1960-2019. We find strong evidence of three bubble episodes during the periods of April 1968 to July 1969, December 1979 to November 1980 and April 2006 to May 2008 in the stock market of South Africa. The last two bubbles correspond to the 1979 international oil crisis and the 2008 financial crisis suggesting that the south african stock market is still vulnerable to exogenous shocks

Is there an early gender gap in Ghanaian children development? Evidence from 3-4 years old boys and girls

Using data from the 2011 round of the Ghana Multiple Indicator Cluster Survey (MICS), we investigate the presence of an early gender gap in child development among children 3-4-year-old. Based on that survey, we built multidimensional indexes of child development that account for children’s ability to read, count, recognize numbers, interact with peers and others, follow rules and be independent for their health outcomes and for their physical skills. This allowed us to estimate the gender gap while controlling for factors affecting child development. Using this approach, we found overall no evidence of gender difference in children’s child development. One index suggests that being female is associated with higher children development. This result is robust to several specifications and sensitivity tests. We also found that a mother’s education, a father’s involvement and the fact of living in an urban area, all increase child development both for boys and for girls. In terms of policy, these findings indicate that the educational gender gap in Ghana most likely reflects unequal access to schooling opportunities between boys and girls

Early Childhood Education and Children Development : Evidence from Ghana

While early childhood education (ECE) has received rising interest from researchers in recent years, its effect on child development is still unclear in Sub-Saharan Africa. This paper investigates the effectiveness of ECE on 3-4 years old children development outcomes in Ghana. We exploit data from the 2011 round of the Ghana Multiple Indicator Cluster Survey (MICS), to build a multidimensional early child development index that accounts for children’s ability to read, count, recognize number, interact with peers and other people, follow rules and be independent as well as their health outcomes and physical skills. Then, we estimate the effect of ECE on child development using an endogenous treatment effect model to account for children unequal access to ECE. Results indicate that attending to ECE program increases children early development indicator. This finding is robust to several changes in the specifications

Is there an early gender gap in Ghanaian children development? Evidence from 3-4 years old boys and girls

Using data from the 2011 round of the Ghana Multiple Indicator Cluster Survey (MICS), we investigate the presence of an early gender gap in child development among children 3-4-year-old. Based on that survey, we built multidimensional indexes of child development that account for children’s ability to read, count, recognize numbers, interact with peers and others, follow rules and be independent for their health outcomes and for their physical skills. This allowed us to estimate the gender gap while controlling for factors affecting child development. Using this approach, we found overall no evidence of gender difference in children’s child development. One index suggests that being female is associated with higher children development. This result is robust to several specifications and sensitivity tests. We also found that a mother’s education, a father’s involvement and the fact of living in an urban area, all increase child development both for boys and for girls. In terms of policy, these findings indicate that the educational gender gap in Ghana most likely reflects unequal access to schooling opportunities between boys and girls