Search results

This paper examines correlations of the underlying structural shocks and the degree of synchronization in the impulse responses of output, inflation and trade to a one standard deviation shock to non-oil commodities price index and exchange rates within the West African Monetary Zone (WAMZ) countries from 1990q1 to 2020q1.

This paper uses the structural vector autoregressive model to isolate the underlying structural shocks and compares them with the West African Monetary Union (WAEMU) countries.

Findings from the study suggest that correlations of underlying structural shocks are more profound in the WAEMU than in the WAMZ. Impulse responses of output to price and exchange rate shocks are more symmetric in the WAEMU than in the WAMZ. However, impulse responses of inflation to price and exchange rate shocks are symmetric in the WAMZ than in the WAEMU and responses of trade in both sub-groups are not uniform.

The paper concludes that the WAMZ does not constitute an Optimum Currency Area concerning the correlations of the structural shocks and output. However, it has achieved convergence in inflation and there are adequate adjustment mechanisms to shocks in the WAMZ than in the WAEMU. Therefore, the WAMZ may not suffer from joining the monetary union. Thus, economic Community of West African States may take steps to roll out the monetary union.

The paper examines correlations of the underlying structural shocks, impulse responses of output and inflation to shocks to commodities price and exchange rates in the WAMZ and compares them with the WAEMU.

Levels of unemployment and environmental challenges make social entrepreneurship and social enterprise very important for the sustainability of society. Higher education has played a fundamental role in driving entrepreneurship and innovation in local, national, regional, and global contexts. The authors of this article explore the state of the legislative framework in Ghana, as well as social enterprise education, stakeholder engagement, models and challenges. The methodology applied for this paper is concept mapping, enabling the critical exploration of the relevance of social enterprise in the context of higher education, and demonstrating how it could practically serve as a panacea to rising youth unemployment. This research concludes by making a case for including social enterprise in the higher education curriculum.

This study examines the role of social media adoption (SMA), opportunity recognition (OR) and opportunity exploitation (OE) in mediating the relationship between entrepreneurial orientation (EO) and the performance of newly established small and medium-sized enterprises (SMEs) in emerging economies, with a particular emphasis on Ghana.

This study adopts a post-positivist philosophical stance and uses a quantitative approach and a survey design. A purposive sampling technique was used to select 336 SME owners and managers from Ghana’s manufacturing, trading and service sectors. Questionnaires were administered to source the empirical data for this study. Structural equation modelling (SEM) was used to analyse the proposed hypotheses.

The results reveal that EO positively and significantly influences the performance of new-born SMEs. SMA, OR and OE partially mediated this relationship.

This study is a wakeup call to policymakers, practitioners, managers and owners of recently established businesses. Policymakers should provide support and resources for newly established SMEs to adopt effective social media marketing strategies, bolstering their online presence and customer engagement. Simultaneously, they should invest in entrepreneurship education and create an environment conducive to innovation to cultivate an entrepreneurial mindset among fresh SMEs. Business owners and managers should proactively monitor market trends and consumer preferences, adapting their strategies to identifying and seizing emerging opportunities.

This study introduces a significant novelty to previous literature and one of the first to employ the dynamic capability theory to examine the interplay between EO, SMA, OR and OE in influencing the performance of new SMEs in the context of emerging markets. Furthermore, it extends the scope of understanding of the mechanisms through which SMEs can prosper in these dynamic environments. This unique combination of theoretical framework, comprehensive variables and contextual focus sets this study apart from existing research, enriching the literature on SME performance in emerging markets.

Effective procurement of infrastructure is partly dependent on infrastructure procurement personnel having the skills that are important for the discharge of their role. Addressing the infrastructure deficits in developing countries, therefore, calls for an understanding of the skills that are important for the discharge of the roles of public personnel that are involved in infrastructure procurement. This study aims to investigate these skills from the perspective of public infrastructure procurement personnel in the sub-Saharan African region.

A questionnaire survey of procurement personnel yielded 590 useable responses, which were analysed using t-tests and exploratory factor analysis (EFA).

EFA established eight key components of important infrastructure procurement skills to include skills related to: project success factors; social and environmental sustainability; marketing and e-procurement; project phase management, the application of procurement laws and procedures; soft skills, ICT and communication; and data analysis and team building.

The findings are crucial in developing infrastructure procurement capacity building programmes that would be appropriate for infrastructure procurement personnel in developing country contexts. Infrastructure procurement personnel ought to engage more in capacity development training that is aligned to enhancing skills within the eight components.