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ACCESS TO FINANCE AND FINANCING PATTERNS OF FIRMS IN GHANA
(University of Ghana, Legon, 2011-06-22) AMAKYE, KWAKU
Access to external sources of financing for firms has been and continues to be an obstacle to the operations and growth of firms. Firms have used diverse means to finance their operations, especially internally generated funds. The purpose of the study was to investigate the determinants of the key external sources of financing working capital and new fixed investments by firms in Ghana. The main source of data for this study is the World Bank Enterprise Survey on Ghana; a firm level survey conducted in the year 2007. The Tobit estimation technique was used to investigate the determinants of the external sources of financing whiles analysis of variance was used to determine the variability in sources of finance according to firm size. The results of the study show that access to finance is perceived by firms as the second most serious obstacle to their operations. Secondly firms tend to rely more on internal sources of financing than external sources of financing. In the use of external sources of financing working capital, trade credit is more important than bank financing. However, firms finance a higher proportion of their new fixed investments from banks as compared to other sources of financing. The factors which influence the use of external sources of financing are firm size, audited financial statements, sector, educational level of the manager, ownership and location. The study recommends that firms, especially small firms, keep quality financial information on their operations. As firms put in place measures to improve on the needed financial information to external finance providers, financial intermediaries should also be encouraged to introduce more relationship lending products, if they are to meet the financing needs of Small and Medium Enterprises.
ANALYSING THE EFFECT OF BUDGET DEFICIT DYNAMICS ON MACROECONOMIC VARIABLES IN NAMIBIA
(University of Namibia, 2021-10-08) HANGO, ANNA LIISA
This study analysed the effect of budget deficit dynamics on economic growth (gross domestic product), unemployment and interest rate in Namibia. The study employed the Autoregressive Distributed Lag Model (ARDL) and Bounds test for the cointegration approach using time series annual data for the period 1990 – 2018. The cointegration results confirm the presence of a long run relationship among variables in all models. In order to capture the short run effects of the budget deficit, the study employed the error correction model (ECM) and decisions were made based on a five percent level of significance. Focusing on the core explanatory variable which is budget deficit, the empirical results discovered a negative and significant relationship between budget deficit and economic growth both in the short and long run period, implying that high deficit deteriorates the growth rate of the economy. Moreover, the results show a direct but insignificant relationship between deficit and unemployment rate in short and long run period in Namibia. In addition, budget deficits show a negative but insignificant relationship towards real interest rate in both the short and long run period. As a result, the study resolved that the Neoclassical theory holds in Namibia. Consequently, in order to contain this adverse effect, the government should ensure that the exacerbated level of budget deficit is addressed.
ANALYSING THE EFFECTS OF INTEREST RATE AND RESERVE REQUIREMENT RATIO ON BANK CREDIT RISK IN NAMIBIA
(UNVERSITY OF NAMIBIA, 2020-09-28) ANDREAS, AILI
The study assessed the effect of monetary policy instruments (interest rates and reserve requirements) on banking institutions risk, measured in terms of non-performing loans. The study used quarterly data from Bank of Namibia from 2001Q1 to 2017Q3. The study employed the Autoregressive Distributive Lag (ARDL) lag model to determine the effects. Since the reserve requirements is seldom used in Namibia and ever kept at one percent of the bank’s total liabilities to the public, it was considered dormant. Therefore, shocking the reserves requirements up-or down-wards is not plausible in the Namibian economy. The variables considered are non-performing loans (NPL), as a dependent variable and interest rates (I), banks tier I capital (CA), banks’ total assets (TA), gross domestic product (GDP), and private credit extension (CR); as the explanatory variables. The results indicate that there is a short run negative effect between interest rates and bank risk, which implies that the low rate would increase the bank’s non-performing loans. The negative relationship indicates that low inflation or price stability does not guarantee financial stability in the economy. The Granger causality results indicate non-causality between interest rates and bank risk, but interest rates Granger cause economic growth and private sector credit that have a direct effect to bank risks.
ANALYSING THE EXCHANGE RATE VOLATILITY RELATIVE TO TRADE BALANCE: THE CASE OF SACU COUNTRIES
(UNVERSITY OF NAMIBIA, 2020-09-23) HAANSENDE, CHRISTINE MAZUBA
The term exchange rate volatility is widely used in the financial market. The exchange rate is determined in the foreign exchange market, which is said to be the largest market in the world and it trades financial assets. Many studies have shown that researchers, relevant practitioners and policy makers pay lots of attention to the issue of exchange rate and volatility. Volatility is known to be very important when it comes to making decisions in financial trading activities that are based on fluctuations on return. This study has two main objectives, namely to analyse the kind of relationship between exchange rate volatility and trade balance in the selected member states of the SACU region in which the selected countries are Botswana, Namibia, Swaziland and South Africa. The second objective of this study was to determine the impact between exchange rate volatility and trade balance in the selected member states of the SACU region. The time series data which was used in this study was from the period 1986 to 2016. The Generalized Autoregressive Conditional Heteroscedasticity (GARCH) model, the impulse response functions and variance decompositions are used in the analysis. Results show that there is a short-run relationship between exchange rate volatility and trade balance. It was found that there is a positive and negative impact between these two variables, with high volatility. Furthermore, this study recommends all Central Banks in the SACU region to intervene in order to mitigate exchange rate volatili
ANALYSIS OF FACTORS INFLUENCING SMALLHOLDER FARMERS’ PARTICIPATION IN NON-FARM EMPLOYMENT ACTIVITIES AND THEIR IMPACT ON FOOD SECURITY: THE CASE OF MBIRE DISTRICT, MASHONALAND CENTRAL PROVINCE, ZIMBABWE
(UNIVERSITY OF ZIMBABWE, 2019-05-04) MUNDOWA, Tussle Mishek
This dissertation investigates the factors influencing smallholder farmer’s decision to participate in non-farm employment activities and the impact of this on rural households’ food security status in the Mbire District of Zimbabwe. The analysis uses a treatment evaluation model and the associated propensity score matching (PSM) technique, which permits the comparisons between the food security status of smallholder farmers who participate in non-farm employment activities and those who do not. Estimation of propensity scores enable us to identify the factors influencing smallholder farmers’ decision to diversify into non-farm employment activities. The results indicate that a number of demographic (gender and education of household head), infrastructural (internet access and distance to the main road) and farm level characteristics (land size, livestock herd owned and productive assets) have qualitative and quantitatively different impacts on rural households’ participation in non-farm employment activities. Further, the empirical analysis confirms that diversifying into non-farm employment activities improves rural households’ food security status. The results imply that non-farm employment activities can be a way out of food insecurity in Mbire district. The study therefore recommends the government and NGOs to induce the rural households to diversify into non-farm activities as they improve their food security status since the climatic conditions in the district are not well suitable for agricultural practices.
ANALYSIS OF FACTORS INFLUENCING SMALLHOLDER FARMERS’ PARTICIPATION IN TOBACCO CONTRACT FARMING AND ITS IMPACT ON LAND PRODUCTIVITY. A CASE OF HURUNGWE DISTRICT, MASHONALAND WEST PROVINCE, ZIMBABWE.
(UNIVERSITY OF ZIMBABWE, 2020-12-08) Ziyadhuma, Prosper
This study used farm level data from Hurungwe district in Mashonaland West province of Zimbabwe to estimate a logistic regression to identify factors that influence smallholder farmers’ decision to participate in tobacco contract farming. The results reveal that age and distance to the main road negatively influence while gender, farming experience, education level, access to internet and firm reputation positively influence smallholder farmers’ decision to participate in contract farming. To determine the impact of contract farming on land productivity (yield per hectare) between contract farming participants and their counterparts who did not participate, the treatment evaluation model with the associated propensity score matching (PSM) was used. The model permits comparison in terms of yield per hectare between the two groups after controlling for other observable and non-observable smallholder farmer characteristics. The estimated results support the hypothesis that contracted tobacco farmers obtain higher yield per hectare than non-contracted farmers do. The study recommends that the government of Zimbabwe through the ministry of agriculture should create an environment comfortable for tobacco contracting firms and tobacco farmers to work together since tobacco contract farming increase farmers’ yield. More so, policies that aim to encourage farmers’ education and farmer’s access to internet are important since educated farmers participate more in tobacco contract farming
Analysis of Firm Capital Structure Decisions: The Case of Non-Banking Firms in Botswana
(University Of Bostwana, 2019-09-02) Ntongana, Epiphany Linden
This study seeks to bridge the knowledge gap by analyzing capital structure decisions of non-banking firms in Botswana. The study also investigates the effects of macroeconomic conditions on firms’ investment behavior as measured through their capital structure decisions, with a specific focus on Botswana non-banking firms. This study’s focus on non-banking sectors is based on the difficulty in comparing firms in banking sector and those who are not, mainly due to the regulations firms face regarding capital structure. Moreover, since Botswana’s diversification efforts are targeted at expanding the economy’s productive sectors in order to reduce dependence on the mining sector, the study seeks to focus on the capital structure of the firms in these other sectors. As a consequence, the study looks at the banking sector as part of the sources of capital structure which they provide to firms in the country, hence the exclusion of the commercial banks and the Botswana Stock Exchange as firms in the study. The capital structure decisions of non-banking firms in Botswana are examined using a Two-step Generalized Method of Moments (GMM) which takes into account simultaneity issues in the dataset, as well as through Quantile regression in order to examine the sectors in depth."
AN ANALYSIS OF MACROECONOMIC DETERMINANTS OF HOUSE PRICE VOLATILITY IN NAMIBIA
(UNVERSITY OF NAMIBIA, 2020-09-23) KAMATI, KATRINA NAMUTENYA
The housing sector plays a significant role in the economy however, house prices are presumed to be more volatile than other goods and services, because of their high demand. The aim of this study was to conduct an empirical analysis of the determinants of house price volatility in Namibia. Moreover, the direction of causality between house price volatility and the macroeconomic determinants was examined. The ARCH and GARCH models together with the VAR/VECM approaches were used to analyse quarterly data from 2007 quarter 1 to 2017 quarter 2. The findings show that house prices in Namibia are volatile and the volatility is highly persistent. A long run relationship was established between house price volatility and the macroeconomic determinants. It was further established that volatility itself, GDP and mortgage loans significantly determine house price volatility. In addition, a unidirectional causality from GDP and mortgage loans to house price volatility was found. The IRF analysis showed that shocks to the selected macroeconomic variables, except the prime lending rate magnify volatility. It was also confirmed by the VDC analysis that mortgage loans and current volatility are the most significant variables that explain variation in house price volatility. Policy makers should therefore monitor macroeconomic factors closely and ensure that the economy is growing to mitigate the issues of house price volatility.
AN ANALYSIS OF MACROECONOMIC DETERMINANTS OF REMITTANCES IN SOUTHERN AFRICA
(UNVERSITY OF NAMIBIA, 2020-09-29) SINGOGO, FWASA K
The study analyzed macroeconomic determinants of remittances in Southern Africa and made use of annual data for the period ranging from 2003 to 2016. The macroeconomic determinants used include: remittances themselves, the inflation rate, GDP growth rate, the nominal exchange rate, broad money and age dependency ratio. In doing so, the study further analyzed cyclicality and the volatility of remittances in the region in order to get a more rounded perspective. In seeking to meet its objectives, a panel study was carried out using both the fixed and random methods of which the random method was found to be most appropriate. The Southern African countries included in the study were Botswana, Lesotho, Malawi, Mozambique, South Africa, Swaziland and Zambia. Other major tests applied included a Standard deviation test for volatility; the Hodrick Prescott (HP) filter with detrended series, to analyze for cyclicality; and cross correlation tests to determine if there existed pro or counter cyclical behavior. The study found that amongst the macroeconomic determinants used; only GDP growth (changes/improvements in the home countries’ economic environment) and the exchange rate were statistically significant with respective positive relationships with remittance inflows. It was also found that volatility of remittances was low, which was evidently reflected in the values of the standard deviations with the highest being 1.784. In regards to cyclicality, the tests exhibited prominence of pro cyclical behavior which could imply that migrants optimize placement of their savings between origin and destination countries of which the remitting of funds is a form of investment. However, several periods of counter cyclicality were observed that made it hard to out-rightly conclude pro cyclicality as being the definite trend.
CHILD LABOUR, SCHOOLING AND POVERTY: AN ANALYSIS OF GHANA’S RECENT EXPERIENCE
(University of Ghana , Legon, 2012-07-21) EGYEI, RICHMOND KINGSLEY
In spite of the major efforts by governments in addressing the issue of children‟s participation in the labour market, much remains to be learnt about the determinants of child labour and schooling in Ghana. This study sought to explore the link between child labour, schooling and poverty using data from the 2005/06 Ghana Living Standards Survey. From a premise that child labour conflicts with the human capital accumulation of the child, an attempt is made using a logistic model to identify the determinants of child labour and schooling in Ghana. The findings from the regression results established a gender gap in schooling – in favour of girls. Child labour is found to be more of a rural phenomenon. Fathers with relatively high levels of education were found to have a significant influence on reducing the likelihood of child labour. Household ownership of productive assets (land and livestock), and other household characteristics also has a significant role to play. The result also established that children from poor households are more likely to participate in the labour market. The corresponding relationship with schooling shows that poverty reduces the likelihood of a child being in school. The result thus lends strong support to the view that poverty has a big impact on child labour. General and specific recommendations aimed at increasing school attendance and reducing child labour have been made.
CHOICE OF HEALTH CARE SERVICES-CASE OF BUDIRIRO 4 HIGH DENSITY SUBURBS, HARARE
(UNIVERSITY OF ZIMBABWE, 2020-09-25) RANGANAI, MUNERI
The study investigated the factors that determine patients’ choice of health care provider in Zimbabwe, using data collected from Budiririro 4 by way of questionnaires. A sample of 150 people who reported having been sick within the last 12 months was collected. A multinomial logistic model was employed, further which marginal effects were calculated. The findings were that being male increases the probability of choosing Private and mission clinics/hospitals and decreases the probability of choosing public facilities and spiritual/ religious providers. As income increases, patients shun spiritual/religious providers and move to demand services from private clinics/hospitals. Increase in household size causes patients to move away from private clinics/hospital and demand services from religious/spiritual healers. Members of the apostolic sect are predisposed to choose spiritual/religious healers and have a lower probability of choosing private clinics/hospitals. Patients suffering from perceived severe illness have a lower probability of choosing public clinics/hospitals. An increase in user fees is associated with an increased probability of choosing private, mission and spiritual healers, a very surprising result. Perceived high quality in private and spiritual providers is associated with an increase probability that they are chosen by patients. The major recommendations were that the government should fully incorporate the private providers, formal and informal, into the system so as to improve access and health care utilization in Zimbabwe. The public provider should avail family discounts to improve access by large families. The government should intensify awareness campaigns to encourage members of apostolic sect to seek formal health care services. The Zimbabwean heath system should endeavor to eliminate the impasse that exists between health care funders and provider
COMPETITION AND EMPLOYMENT IN THE TELECOMMUNICATIONS INDUSTRY IN TANZANIA
(University of Dar es Salaam, 2011-09-22) Mtingele, Achilana Mkunga
This dissertation examines the impact of competition on employment in the telecommunications industry in Tanzania. Specifically, it addresses the question “Does competition in telecommunications industry in Tanzania have any significant impact on employment?” Furthermore, the competitive pressure existed in the industry after liberalization in the 1990s is what induced the study. The panel data available for this dissertation over the period of seventeen years, allows estimation of competition and levels of employment that control for firm fixed effects. The model estimated relies on employment equation that uses competition variable measured by Herfindhal-Hirschman Index as one of the regressors. The findings based on OLS estimates indicate that 1 per cent increase in competition increases employment by 1.02 per cent but the coefficient estimate is not significant, partly suggesting biasness of OLS. When firm fixed effects are controlled for, the model demonstrates robust positive correlation between competition and employment; 1 per cent increase in competition increases employment by 0.66 percent; these results are highly significant at 5 per cent. Such results suggest that OLS estimates are indeed biased. The dissertation concludes significant positive correlation between employment and competition hence recommends for more efforts to support employment creating competition.
COMPETITION-STABILITY NEXUS IN THE BANKING SECTOR OF ZIMBABWE (2009-2016)
(UNIVERSITY OF ZIMBABWE, 2020-09-30) SAKAROMBE, UPENYU
This study explored the relationship between competition and stability in the banking sector of Zimbabwe. The aims were to investigate the relationship between competition and stability in the banking sector of Zimbabwe and to establish the determinants of bank stability in Zimbabwe. This was done using the System Generalised Method of Moments (GMM) because it can solve the endogeneity problem between the measure of stability and the measure of competition. The GMM uses the lags of the dependent variables as instruments in the equation thereby managing the endogeneity problem. Panel data of 17 banking institutions from 2009 to 2016 were analysed using Stata 13. The results suggest that competition leads to stability instead of the fragility. This implies that competition enhances the stability of the banking system in Zimbabwe. Previous stability level contributes positively to current stability. The results also suggest that stability in the banking sector can also be enhanced through increase in loan disbursement and technical efficiency. However, increase in loans in relation to deposits reduces stability by increasing liquidity risks. The study recommends financial liberalisation through facilitating existence of a contestable market, that is, a market with zero entry and exit costs, where there are no barriers to entry and exit such as sunk costs. The regulatory authority should design proper ease of entry and exit policies for insolvent banks and reduce the too-important-to-fail subsidies. Enough credit information should be enabled to flow easily and fast. The government should also enable the increment of loan customer base by giving property rights to farm owners; respecting and protecting property rights so that they can be recognised by banks as credible collateral security. This study also recommends the maintenance of the loans to deposits ratio at optimum levels in order to control liquidity problems.
COMPLIANCE BURDEN AND TAX GAP AMONG MICRO AND SMALL SIZE BUSINESSES IN GHANA
(UNIVERSITY OF CAPE COAST, 2021-03-02) AVORKPO, ERIC ATSU
Developing an efficient and effective tax policy is not a guarantee for reducing revenue loss but a concerted effort of the taxpayers and the revenue mobilization agency to ensure high level of compliance without having to increase the cost of collecting these revenues and without imposing much compliance burden on the taxpayer. This study investigates the compliance burden and tax gap of Micro and Small Enterprises (MSEs) in Ghana. It specifically focuses on how compliance burden affects the tax gap (Revenue loss) as well as the correlates of compliance burden. Data on 485 registered MSEs taxpayers collected by the Directorate of Research Innovation and Consultancy (DRIC) was used for the study. A t-test was conducted whiles OLS was employed to examine the effect of compliance burden on the tax gap as well as the correlates of compliance burden. It was found that small enterprises underpay tax while micro enterprises overpay tax. The compliance burden significantly increases the tax gap. Tax audit, number of taxes, tax knowledge, distance to the tax office, and the kind of service used in preparing and filing returns were found to have significant effects on compliance burden in Ghana. The key policy recommendation is that Ghana Revenue Authority (GRA) should intensify its tax auditing work to reduce the compliance burden and build more offices to reduce the distance covered by MSEs when visiting the tax office to make tax payment or seek advice.
COVARIANT SHOCKS AND THEIR MARGINAL EFFECTS ON HOUSEHOLD COPING STRATEGIES IN UGANDA
(UNIVERSITY OF MAKERERE, 2017-11-03) Bberinya, HILARY
This study analyzed covariant shocks and their marginal effects on household coping strategies in Uganda. Household level data contained in the Uganda National Household Survey (2005/2006) by Uganda Bureau of Statistics was used. The dependent variable was coping strategies with options; used assets, used savings, reduced family expenditure, widened employment, sought help, borrowed and other strategies. The independent variables were; drought, floods/hailstorm, pest attack, bad seed quality, livestock epidemics and other shocks. Location, region, gender, age, household size, economic status and education were used as control variables. Analysis was carried out using SPSS 12 and STATA 12 that generated preliminary descriptive statistics, variable cross tabulations, chi-square and multinomial logistic results. Three models were estimated to find out the effect of covariant shocks and their marginal effects on coping strategies. Out of the total number of 7421 respondents, 4885 (65.8%) reported to have faced at least one shock. Out of six shocks, drought was the largest specific shock that affected most respondents followed by; floods, livestock epidemics and a combination of other shocks combined. Based on the results of the cross tabulation and chi-square test, the conclusion is that there were significant differences in reporting shocks by; location, region, gender, household size and economic status but no significant difference in reporting shocks according to education status. For the first choice strategy, there were significant differences in the choice of strategies between gender, location, region, household size, economic status; but no significant difference between education status. The choice of coping strategies was significantly different for various shocks. For the second choice strategy, there were significant differences in the choice of strategies based on, region, household size, economic status and location; but no significant difference between male and female. For the third choice strategy, there were no significant differences in the choice of strategies. Households were more likely to use savings in face of drought, floods/hailstorms, pest attacks, bad seed quality and other shocks. Male headed households were more likely to widen employment compared to use of savings than females. Use of savings to cope in face of shocks has policy implications in relation to the need to raise household savings.
CRUDE OIL PRODUCTION AND MACROECONOMIC PERFORMANCE IN GHANA
(University of Cape Coast, 2021-02-12) Tunyo, Delali Aku
This study investigated the impact of crude oil production on macroeconomic performance in Ghana. The study employed monthly data from January 2011 to December 2018. The structural vector autoregressive (SVAR) model was employed to analyse the impact of crude oil production on macroeconomic performance. The findings of the structural impulse response function revealed that crude oil production had no impact on the agricultural sector, manufacturing sector, services sector, real effective exchange rate and inflation. However, crude oil production had a positive impact on fiscal balance. The findings of the structural forecast error variance decomposition showed that crude oil production accounted for a small amount of variation in all the variables except fiscal balance for which it accounted for the largest portion of the variation. The study concluded that crude oil production had no significant impact on the non-oil sectors, real effective exchange rate and inflation. However, crude oil production had a positive impact on fiscal balance. The study recommended that the government through GNPC and major oil stakeholders such as Tullow Ghana Limited, Kosmos Energy Ghana and Anardako Petroleum Corporation should establish of oil refineries, petroleum industries and fertilizer plants domestically and also the development of the manufacturing and the services sector to provide the backward and forward linkages that needs to be shared between the oil sector and other sectors of the economy.
DETERMINANTS OF DEFORESTATION IN GHANA
(University of Ghana , Legon, 2011-06-06) MINLAH, MICHAEL KAKU
Deforestation is one of the major environmental challenges facing Ghana. Today, the impacts of deforestation continue to impinge on livelihoods of rural and urban dwellers, disrupting important environmental functions and severely destroying forest ecosystems. Some studies have analyzed factors that influence deforestation in Ghana. However, none have placed emphasis on the occurrence of the Environmental Kuznets Curve for deforestation in Ghana. This study employs the Auto Regressive Distributed Lag (ARDL) Bounds Testing approach to cointegration to empirically investigate the factors that cause deforestation in the long and short run as well as investigating the occurrence of the Environmental Kuznets Curve (EKC) for deforestation using time series data from 1970 and 2009. The long run estimation results indicate that variables such as urbanization, rural population pressure, globalization, Structural Adjustment Program (SAP), and agricultural technology affect deforestation in Ghana positively, while agricultural production index, forest exports value as a percentage of GDP, enforcement of property right and forest protection and exchange rate influence deforestation negatively. The impact of total external debt on deforestation Ghana was positive but not significant implying a weak confirmation of the Debt Resource Hypothesis in Ghana. Analysis of the EKC for deforestation in Ghana indicate that the phenomenon is real in Ghana with the per capita income turning point being at $ US 364.99 (in constant 2000 $ US) which will occur in 2011 at a deforestation rate of 1.5%. General and specific recommendations aimed at reducing deforestation are provided.
DETERMINANTS OF ECONOMIC GROWTH IN BOTSWANA THROUGH THIRLWALL’S MODEL
(University Of Bostwana, 2020-05-06) BAITSILE, PEO NNANG NAIMA
The purpose of this paper is to estimate economic growth of Botswana. The study relies on the Thirlwall’s model and its extension to estimate the price and income elasticities of export and import demand using the productivity data for the period of 1980-2016. The estimation for this work is based on the Auto-Regressive Distributed Lag, (ARDL), modeling to estimate the price and income elasticities, which is based on the conventional equations of exports and imports demand. The practical application of the estimated elasticities provides insights about the determinants of the economic growth of the Republic of Botswana, thus, the Thirlwall’s hypothesis of balance of payments constrained growth is used. The results from the imports and exports equations showed the following. The estimated price elasticities of demand for imports and exports were unexpected and statistically insignificant. The estimated income elasticities of demand for imports and exports were as expected and statistically significant. From the extended imports and exports equations, the price elasticities of imports were unexpected and statistically significant. The income elasticity of imports and exports were as expected and statistically significant. Practical applications of the estimated price and income elasticities of demand for imports and exports gave the economic growth rates of 5.63 percent and 4.97 percent respectively for the Thirlwall and extended Thirlwall’s model with the export growth rate of 4.87 percent. The overall results indicated that Thirlwall hypothesis holds in determining Botswana’s economic growth rate. This correlated with the study done by Matsheka in 1998, where when calculating Botswana’s economic growth rate, the results showed that Botswana’s economic growth rate could be predicted using the Thirlwall’s model.
DETERMINANTS OF EMPLOYEE TENURE IN THE BANKING SECTOR OF GHANA
(University of Ghana , Legon, 2012-07-12) AGYEMANG, AMOS SARFO-
The Ghanaian economy has witnessed an influx of banks in the past two decades. This phenomenon however, brings to the fore issues of employee turnover as the banks compete for efficient workers. A Bank of Ghana research for the period 2001 to 2007 discovered a year-onyear increase in the employee turnover costs incurred in the banking industry. In another research, out of the 14 sampled countries in Sub Saharan Africa, the Bank of Ghana identified Ghana to be the leading nation in terms of costs involved in the hiring and firing of employees. Studies on employee tenure in the banking sector remains scarce in the Ghanaian context and most available ones worldwide are single sided in their analysis; thus they seek to examine employee tenure in relation to either individual or firm characteristics. The objective of the study is to examine how both firm and individual characteristics influence employee tenure in the banking sector of Ghana. Multinomial logit regressions results from the study which employed primary data of randomly sampled 138 employees across the commercial banks in Ghana revealed that current job tenure is significantly influenced by individual characteristics such as level of education, age and experience. Co-workers’ relations, workload and wages were found to be the firm characteristics that significantly explained their current tenure. Job offer received was also proven to be significant. Results from the logistic regression (binary logit) also suggested that gender, wages, incentives and the years spent on the job were important determinants of the intent of tenure. In line with the findings, it is recommended that banks should ensure satisfactory levels of wages and incentives given to their employees. They should again embark on family-friendly policies for their employees and also be circumspect in their recruitment activities.
DETERMINANTS OF EXPORT DIVERSIFICATION IN GHANA
(University of Cape Coast, 2019-04-22) GBOLONYO, EMMANUEL YAO
The present study examines the determinants of export diversification in Ghana. For this purpose, Theil index is used to estimate the degree of export diversification. The study used annual time series data from 1983 to 2016 to estimate the structural, economic/policy and macroeconomic determinants of export diversification within the Auto Regressive Distributed Lag (ARDL) framework. The results of this study indicated that GDP per capita, real effective exchange rate, trade openness, foreign direct investment and infrastructure, improve export diversification in both the long-run and short-run while terms of trade enhances specialisation. Based on the findings of this study, the study recommended that government should take advantage of the fall in Cedi value by exporting more products to markets with high demand. The Ministry of Trade and Industry should also develop a competitive capacity for trade in order to eliminate principal domestic barriers to international business development, increase its investment in basic and trade-related infrastructure. It is also recommended that the government through the Ghana Investment Promotion Center should invest in promoting a broader variety of FDI opportunities to investors, while also developing other sectors of the economy in order to boost diversification.

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