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Interest Rate Liberalization, Financial Development and Economic Growth in sub- Saharan African Economies
No full textThis study considers a structural interaction of the interest rate liberalisation-growth nexus; through the inclusion of financial development variables, for sub-Saharan African economies spanning the periods 1980-2012. Coupled with the institutional theory of growth, this study relies on the McKinnon-Shaw framework and, given its merits over conventional tests, a battery of panel unit-root tests was used to purify our data off spurious regression estimates. Later, both panel cointegration and panel error correction models were employed for empirical investigations. From the results obtained, it was evident that other factors such as the openness on trade and price stability are much more significant for interest rate liberalisation and economic growth in sub-Saharan African countries. More so, the extent as well as degree of financial development relatively assisted in reducing interest rate; further facilitates investment and then engendered growth. Theoretically, this study aligns with the McKinnon-Shaw hypothesis of interest rate-growth nexus. Interestingly, the results show that public institutions have been found significantly detrimental at driving the growth process of the sub-Saharan African economies. From the foregoing, the level of financial development, price stability and institutional arrangement should be properly attended to for effective and far-reaching policy suggestions in sub-Saharan African economies
Foreign Direct Investment, Economic Growth and Environmental Quality in Sub- Saharan Africa: A Dynamic Model Analysis
No full textThe paper investigates the dynamic interactions among the inflow of foreign direct investment, economic growth and environmental quality of the countries in Sub-Saharan Africa (SSA). It seeks to examine the environmental implications of the inflow of foreign direct investment and economic growth of the countries in the sub-region. The dynamic interaction was examined through Panel Vector Autoregressive (PVAR) and Panel Vector Error Correction (PVEC) methodologies on a sample of thirty-three SSA countries. Panel unit root test and panel cointegration test were conducted to determine the degree of stationarity of the variables and long–run relationship among our variables of interest respectively. The results of the empirical analysis showed that dynamic interactions exist among foreign direct investment, economic growth and environmental quality, with the magnitude of influence on one another between 13.1% and 32.8%. The paper suggests that governments of Sub–Saharan African countries should strike a balance between investment friendly policies and environmental protection policies such that foreign direct investment that will be attracted into the region will be those that will improve the environmental quality of the countries in the region
Factors Associated with Survival of HIV/HBV Co-infected Patients in Uganda
No full textThe main objective of the study was to identify factors that affect survival of HIV/HBV coinfected patients. The study used data from TASO Uganda. Patients who registered with the organization between 2005 and 2010 were followed to determine their survival. The covariates of study were age, education level, number of sex partners, Disease stage, weight, HBV related condition, being on ARV’s. To estimate the survival function for every subgroup of each variable, the product- limit method developed by Kaplan and Meier was used (Kaplan and Meier, 1958) and a log rank test to compare the survivorship functions across several groups. Lastly,a proportional hazards model was used to examine the joint effect of the covariates on the duration of survival assuming a Gompertz distribution for the time variable. The study revealed the duration of survival for HIV/HBV co-infected patients increased with increasing weight. Patients who had Hepatocellular carcinoma or Cirrhosis at diagnosis were at an increased risk of death as compared to those who had chronic active hepatitis B. Patients on ARVs had an increased death rate as compared to those who were not on ARVs, because the study showed that majority of the Patients seek for treatment when they are infected with Carcinoma, the old stage of Hepatitis B. Given the fact that ARVs have been thought to make life better for HIV/AIDS patients, there is need for further research in this area. Patients who were educated had a reduced death rate as compared to the uneducated ones. Therefore, emphasis should be on designing Information Education Communication (IEC) materials to sensitize the uneducated HIV/HBV co-infected patients on effects of non compliance and unbalanced diets
Transaction cost determinants of credit governance structures of commercial banks in Tanzania
No full textThis paper explores transaction cost determinants of credit governance structures (CGS) of commercial banks in Tanzania. Descriptive statistics, linear regression model, binary and multinomial logistic regression models were employed for analysis. Findings revealed four modes of credit governance structures that are used by commercial banks to penetrate rural based credit market without fear of high transaction costs. These modes of CGSs might be used to absorb transaction costs in different magnitudes, allow commercial banks credit operations scale up to rural areas and maximize profitability. The most important TC determinants include high illiteracy rate (lack of entrepreneurial and financial management skills), poor infrastructures, unclear political will and commitment towards rural development, culture barrier (poor tradition and customs) and lack of national identification system. It was also revealed that, under commercial banks credit operations in Tanzania, credit contract monitoring and enforcement transaction costs were the highest categories of TCs, which is contrary to what suggested by previous authors
Welfare Implications of the Payment for Environmental Services: Case of Uluguru Mountain –Morogoro
No full textThis study was carried to find out the impact of PES (Payment for Environmental Services) on the welfare of the communities in the Uluguru Mountains. The aim of the study is to assess the main objectives of the PES project which is to conserve the environment (forest) and reduce poverty. The assessment of the project is done by looking on the difference between the treatment group (those who participate in PES) and control group (households who do not participate). The study employed a combination of questionnaire and field observation to collect primary data together with a detailed review of literature. The study utilized Propensity Score Matching (PSM), Descriptive statistics, Perception and Logistic analysis. In all the methods of analysis the results shows that there is a significant difference in the poverty status between treatment and control groups with treatment groups showing low level of poverty. In the regression analysis it is shown that participation into the programme, age of the respondents, the level of dependence on natural resources are found to significantly reduce poverty
Dynamics of Revenue Generation in Tanzania, Kenya and Uganda: A Co-integration and error-correction modeling approach
No full textThe dynamics of revenue generation in Tanzania, Kenya and Uganda are explored. Results demonstrate that revenue generation is sluggish in Tanzania compared to Kenya and Uganda. Macroeconomic environment, economic structure, and level of development are fundamental at explaining these differences. Results reveal that these countries have the potential for generating more revenue, if could address weaknesses inherent in their tax systems. Computerization of tax collection; expansion of the tax base; address problems associated with tax revenue leakages; and instituting strong legal enforcements should be at the fore in the ongoing tax reforms so as to enhance tax revenue collection
BULLYING THE TEACHING PROFESSION AND EDUCATION DECLINE: WHO CARES?
No full textThis article explores the ongoing diverse changes on the psycho-social status of the teaching profession and its effect on education decline in Tanzania. Building upon review of prior (i.e., 1960s) and current status (i.e., 2000s) of the teaching profession, we propose the value– decline of the teaching profession. The study employed descriptive design and qualitative approach in data collection and analyses. In this individual study, we purposively invited and interviewed retired teachers (60 years and above) (N= 6). on-the job teachers in public primary schools (N= 9) and those in public secondary schools (N= 7) and parents who have children in public primary and secondary schools (N= 19). Our findings reveal that the existing public unromantic languages and undesirable administrative practices [e.g., force, delays in fulfilling teachers’ rights and needs, job pressures, and coercion] bully the teaching profession. In many cases, the Tanzanian society communicates negative perception towards the teaching profession. Besides, bad working environment, undesired administrative processes and low wages seem to escalate stress on teachers. The findings suggest that teachers hold negative perceptions and inferiority towards their profession and job endeavours negate effectiveness in their teaching which prompts poor education. The findings have implications for educational practitioners, policy makers and stakeholders to design a model that would redress the psycho-social status of the teaching profession. Â
AN ASSESSMENT OF FACTORS AFFECTING STREET CHILDREN ACCESS TO UNIVERSAL EDUCATION: A CASE OF NJOMBE TOWNSHIP COUNCIL
No full textThe study purpose was to investigate factors affecting street children in accessing universal education in Njombe region in Tanzania. It focused on four strands that are to analyse factors experienced by street children to access universal education, to determine the role of community and government in supporting street children for universal education, to examine the consequences of missing universal education for street children and to assess the ways of improving accessibility of universal education for street children. A mixed methods research approach and cross-sectional descriptive design was adopted in the study. Purposive, snow bowling, and simple random sampling techniques were used to obtain the sample. 120 participants volunteered participation in the study. Data were collected through questionnaire, interviews, documents reviews and focus group discussion as well as researchers notes. Descriptive and thematic analysis procedures were used to analyse data. The data were presented in different formats, including charts, quotes and themes. Findings revealed that street children are still facing challenges of abuses and limitation to access universal education in Njombe. Findings indicatethat children dropout of schools ranked high in the area. The reasons for dropout out included the limited awareness of parental love and support interventions, domestic problems, limited psychosocial support, poor infrastructures, shortage of learning facilities and child labour. It recommends new research regarding efforts of Government to end street children around Njombe Township Council. It further recommends to the government to solve the problem for the children to stay in schools and continue with studies
An Emprical Analysis of Weak-Form Efficiency of Dar es Salaam Stock Exchange
No full textThis study examines the empirical evidence for efficient market hypothesis in the Dar es SalaamStock Exchange (DSE). The daily closing stock prices of the market index (All share IndexDSEI) were used, covering the sample period from January 2009 to March 2015. All data were extracted from Dar Es Salaam Stock Exchange (DSE), excluding public holidays and nontrading days. To examine the weak-form efficiency hypothesis, the study used four different statistical tests: serial correlation test-The Ljung-Box test, Unit root tests, non-parametric runs test and the variance ratio test. The results of all four statistical tests employed showed that the daily returns series did not behave randomly for the sample period investigated and hence it was concluded that DSE is not a weak form efficient market. Inefficiency of the market (DSE) general implies that trading strategy such as the technical analysis can be valuable in the market taking into consideration of the other factors. The study recommended that other studies to be conducted using individual shares. This will help in understanding the efficiency of individual stocks as well as the possibility of applying some of trading strategy on individual share
Exchange Rate Movement and Import Price of Machineries in Nigeria: A Bound Testing Approach.
No full textThis paper examines the driving factors of import price of machineries and their pass-through in dynamics route. An assessment of the short-run and long-run between price of machineries and its driving indicators between 1981 and 2014 is carried out with a view to determining its pass-through, given the need to save domestic price against future exigencies. It makes use of unrestricted error correction mechanism and the bound testing approach to co integration in an autoregressive distributed lag framework proposed by Pesaran et al. (2001). The empirical estimates reveal that one lag variability of import price, exchange rate, foreign cost, domestic competitors price and demand pressure proxied by GDP impact it in the long-run. However, the ECM coefficient is properly signed with -0.549. By implication, approximately 54% of the discrepancy from long run equilibrium in the previous year is adjusted for by the current year. The findings suggest that The implication of these results is that government should effectively fight inflationary pressure by implementing appropriate macroeconomic policies that can considerably tame down the level of inflation to non accelerated inflation rate of unemployment, a very sound exchange rate management tends to complement this as there may be case of exchange rate pass-through and this level of inflation is tolerated as it is not inimical to working system of the economy