166 research outputs found
sj-docx-4-mdm-10.1177_0272989X211053563 – Supplemental material for A Game Theoretic Analysis of Competition Between Vaccine and Drug Companies during Disease Contraction and Recovery
No full textSupplemental material, sj-docx-4-mdm-10.1177_0272989X211053563 for A Game Theoretic Analysis of Competition Between Vaccine and Drug Companies during Disease Contraction and Recovery by Kjell Hausken and Mthuli Ncube in Medical Decision Making</p
sj-docx-2-mdm-10.1177_0272989X211053563 – Supplemental material for A Game Theoretic Analysis of Competition Between Vaccine and Drug Companies during Disease Contraction and Recovery
No full textSupplemental material, sj-docx-2-mdm-10.1177_0272989X211053563 for A Game Theoretic Analysis of Competition Between Vaccine and Drug Companies during Disease Contraction and Recovery by Kjell Hausken and Mthuli Ncube in Medical Decision Making</p
sj-docx-3-mdm-10.1177_0272989X211053563 – Supplemental material for A Game Theoretic Analysis of Competition Between Vaccine and Drug Companies during Disease Contraction and Recovery
No full textSupplemental material, sj-docx-3-mdm-10.1177_0272989X211053563 for A Game Theoretic Analysis of Competition Between Vaccine and Drug Companies during Disease Contraction and Recovery by Kjell Hausken and Mthuli Ncube in Medical Decision Making</p
sj-docx-1-mdm-10.1177_0272989X211053563 – Supplemental material for A Game Theoretic Analysis of Competition Between Vaccine and Drug Companies during Disease Contraction and Recovery
No full textSupplemental material, sj-docx-1-mdm-10.1177_0272989X211053563 for A Game Theoretic Analysis of Competition Between Vaccine and Drug Companies during Disease Contraction and Recovery by Kjell Hausken and Mthuli Ncube in Medical Decision Making</p
Can intra-regional trade act as a global shock absorber in Africa?
No full textTrade is a fundamental driver of economic growth and productive employment. Identifying effective policies that can enhance regional economic integration is an essential component of the new Sustainable Development Goals. As part of the Africa at LSE, IGC and South Asia at LSE cross-blog series, Zuzana Brixiová, Qingwei Meng, and Professor Mthuli Ncube analyse the role of regional integration in shaping the resilience of African economies to external shocks
Infrastructure and Economic Development in Africa: An Overview
No full textEvidence abounds to support the view that economy of sub-Saharan Africa (SSA) has been growing in recent times, but there is considerable concern that the growth has not been accompanied by economic transformation. The lack of economic transformation is traceable to low level of investment in transformation activities especially raw material processing industries occasioned, at least in part, by the fact that sub-Saharan Africa has the highest cost of doing business in the world with cost of infrastructure services making up a disproportionately large part of production and trade costs. This is a reflection of serious deficit in the three dimensions of infrastructure, namely quality, quantity and access. Against this background, it was considered topical to devote the plenary session of December 2007 to the issue of infrastructure and economic development in Africa. This volume, therefore, contains the three papers presented at that plenary session. The first paper by César Calderón and Luis Servén on infrastructure and economic development in SSA focused on analysing the linkages between infrastructure and economic development pointing out that the literature on effects of infrastructure on economic development is inconclusive. Noting that physical infrastructures are rarely homogenous and analysing a large panel data for 136 countries, they found that infrastructure development is associated with both higher growth and lower inequality. They also found that while infrastructure made a large contribution to reducing inequality in East and South Asia, the impact was relatively modest in SSA due to poor quality of infrastructure. They concluded that corruption adversely affect impact of infrastructure on productivity and growth stressing, among other things, the importance of independent regulation agencies in offsetting some of the consequences of corruption on infrastructural services. Kennedy K. Mbekeani, in the second paper, presented a review of international experience in infrastructure, trade expansion and regional integration and lessons for Africa. Delving into the relationships between trade, infrastructure and regional expansion, he asserted that improvements in productivity lead to increased trade and can foster regional integration through improved intra-regional trade and industrial relocation. There is persuasive evidence that adequate infrastructure provision is a key requirement for trade liberalisation to achieve its intended objective of efficient resource reallocation and export growth. The paper concluded by providing a summary of some Africa's infrastructure programmes that have the potential to lead to trade expansion and regional integration. Finally, the paper by Mthuli Ncube on financing and managing infrastructure in Africa presents arguments on the relationship between infrastructure investments and economic growth in Africa. Infrastructure encompasses transport, telecommunications, water and sanitation, power and gas, and major water works, and also focuses on quantity versus quality of infrastructure. Ncube also found that, in the literature, the causal nexus between infrastructure capital and economic growth and development, in general, has been ambiguous. However, it does seem one thing is clear, namely that sustainable high economic growth often occurs in an environment where there is a meaningful infrastructure development, although it is not obvious which leads the other. The paper presents the various financing strategies, around Public--Private partnerships (PPPs) and examples of PPP-type arrangements in Africa. Ncube concluded the paper by exploring policy implications of the state of infrastructure and economic growth in Africa. Copyright The author 2010. Published by Oxford University Press on behalf of the Centre for the Study of African Economies. All rights reserved. For permissions, please email: [email protected], Oxford University Press.
Eliminating Extreme Poverty in Africa: Trends, Policies and the Role of International Organizations
No full textEradicating extreme poverty for all people everywhere by 2030 is the first goal among the UN Sustainable Development Goals that guide the current development agenda. This paper examines its feasibility for Sub-Saharan Africa (SSA), the world’s poorest but growing region. It finds that under plausible assumptions extreme poverty will not be eradicated in SSA by 2030, but it can be reduced to low levels. National and regional policies that focus on accelerating growth, while making it more inclusive would accelerate poverty reduction. International organizations, including informal ones such as the G20, can play a key role in this endeavor by encouraging policy coordination and coherence.An earlier version of this paper was issued as Bicaba, Zorobabel; Brixiová, Zuzana and Ncube, Mthuli (2015), Eliminating Extreme Poverty in Africa: Trends, Policies and the Role of International Organizations, Working Paper Series No 223, African Development Bank, Abidjan, Côte d’Ivoire. The authors thank Mohamed S. Ben Aissa, John Anyanwu, Michael Crosswell, Douglas Gollin, Jacob Grover, Basil Jones, Beejay Kokil, Kevin Lumbila, Alice Nabalamba, and Don Sillers for comments and discussions. An earlier version was presented at the 1st Annual World Bank Conference on Africa and at a seminar at the USAID. The views expressed are those of the authors and do not necessarily reflect those of the African Development Bank. Corresponding e-mail address: [email protected]
Governance, Incentives and Elections as Determinants of Economic Performance, Aid and Investment Flows
No full textScholars have focused their efforts to explain poor growth and development in regions such as Sub-Saharan Africa, and parts of Asia, Eastern Europe, and Latin America, using arguments based on quality of institutions and geography and the structure and process of resource allocation and endowment. This paper presents a different argument based on an incentive compatibility and asymmetric information framework. We characterize the decision-making problem in government and public sector as being fraught with mis-information about the true state of economic performance. Misinformation can also result in a legal liability which may depend on probability of losing elections, income, and attitude to risk. The agency conflicts between the elected politicians and career-bureaucrats contribute to the mis-information problem, resulting in poor policy choices that may lead to poor economic performance. The role of international financial aid flows is examined and the paper argues that such aid flows may only serve to subsidize the inefficiencies of political leaders and reduce the economic gap created by poor policy choices. More financial aid flows may not be a panacea for poor economic growth and its insurance characteristics may cause recipient governments to choose even riskier policies. We also examine why Foreign Direct Investment (FDI) flows to poor regions, such as Sub-Saharan Africa, are low. We show that the risky policy choices create conditions that increase the value of the option-to-wait on investment decisions, thus reducing the flow of FDI. We undertake empirical analysis on some African Countries and show that the quality of governance influences GDP growth, Employment Creation, and Poverty Reduction in Africa.Governance, Incentives, Asymmetric Information, Elections, Economic Performance, Aid Flows, Insurance, Moral Hazard, Foreign Direct Investment (FDI), Option-to-Wait, Real Options
The Impact of Employee Shareholding Option Plans on Company Performance in South Africa
No full textA research report submitted to the Faculty of Commerce, Law and Management, University of Witwatersrand, Johannesburg, in the Wits Business School, in partial fulfilment of the requirements for the degree of Master of Business Administration in 2009.Employee Share Option Plans (ESOPs) are widely applied in the South African context to disseminate wealth to Historically Disadvantaged South Africans (HDSAs). This opinion is affirmed by an increased application of the concept on a number of Broad Based Black Economic Empowerment (BBBEE) transaction deals concluded recently. The research explored the impact of these schemes on company performance and also investigated the resultant economic impact on participating employees. Data was collected from JSE-listed companies that have implemented these schemes over an eight year period between the years 2000 and 2008. Tobin's Q ratios were constructed using data from various sources with annual reports as the primary source of data. An event analysis was undertaken by measuring Tobin's Q of the said companies before and after the implementation of the respective schemes. A secondary process collated data from a survey of employees participating in the schemes to measure their increased productivity and also to ascertain financial employee spin-offs from the schemes. The research found inconclusive evidence that ESOPs impact positively on company performance. However evidence of a strong correlation between potential productivity increases and the schemes was confirmed . Also, a relationship between an employee's level and term of participation to financial reward was established. This research will assist companies in structuring their ESOPs in relation to individual employee contribution to enhance company performance and will also provide guidance on ESOPs financial impact on employees.MM202
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