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1 – 10 of 322Blessing Katuka, Calvin Mudzingiri and Peterson K. Ozili
This study aims to examine the impact of fiscal space and governance quality on inclusive growth in African countries.
Abstract
Purpose
This study aims to examine the impact of fiscal space and governance quality on inclusive growth in African countries.
Design/methodology/approach
In total, 28 African countries were analyzed from 2000 to 2020 using the generalized method of moment regression method. An inclusive growth index was developed using the principal component analysis (PCA) method. The PCA-derived index incorporates factors such as poverty, income inequality, economic participation and per capita income.
Findings
The main findings suggest that fiscal space availability (de facto fiscal space and fiscal balance) promotes inclusive growth. The study also showed that lagged inclusive growth, digitalization and governance indicators positively influence inclusive growth. The study concludes that fiscal space availability fosters inclusive growth, but this effect is mediated by governance quality in Africa.
Originality/value
Several studies examined the role of fiscal policy on inclusive growth. However, it is crucial to assess the fiscal space, that is, the financial capacity of the government to implement its fiscal policy without harming its financial stability. This paper, therefore, contributes to the existing literature by using de facto fiscal space indicator to comprehend fiscal dynamics contributing to inclusive growth. In addition, the paper uniquely constructs an inclusive growth index by including poverty severity, which considers both the incidence and depth of poverty and inequality in society.
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Olusegun Felix Ayadi and Johnnie Williams
This study aims to explore the possibility that securities markets in selected African countries of Egypt, Kenya, Nigeria and South Africa play a significant role in capital…
Abstract
Purpose
This study aims to explore the possibility that securities markets in selected African countries of Egypt, Kenya, Nigeria and South Africa play a significant role in capital accumulation using panel data analysis. This is done by exploring the relationship between gross fixed capital formation on the one hand and financial market development indicators on the other hand. Thus, the study aims to examine if stock market size and liquidity are determinants of capital accumulation.
Design/methodology/approach
The analysis is based on annual times series from 1991 through 2017 spanning four African stock markets. The analysis utilizes the fixed-effect and random-effect econometric models. The Durbin–Wu–Hausman test is used to choose between the two models.
Findings
The key results indicate that stock market capitalization is a positive determinant of gross fixed capital formation. The market value traded and turnover have no relationship with capital formation. Therefore, the role of stock African stock markets in promoting capital accumulation and, subsequently, industrial growth in Africa is seriously questioned.
Originality/value
Only a handful of studies have examined the role of the African securities market in promoting capital accumulation. This study is unique in which it focuses on the leading stock markets in the four corners of Africa. The markets are from Egypt in the north, South Africa from the south, Nigeria from the west and Kenya from the east. These four markets account for a significant segment of all African markets.
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Andrew Ebekozien, Clinton Aigbavboa, Mohamad Shaharudin Samsurijan, Radin Badarudin Radin Firdaus, Solomon Oisasoje Ayo-Odifiri and Godpower C. Amadi
Several studies have shown that the mechanism of labour-intensive construction (LIC) projects can mitigate high unemployment and create skilled development, especially in…
Abstract
Purpose
Several studies have shown that the mechanism of labour-intensive construction (LIC) projects can mitigate high unemployment and create skilled development, especially in developing nations. The guidelines and practices for implementation may have faced some encumbrances in some countries. Whether the current guidelines and practices for municipal infrastructure support agent (MISA) to execute LIC projects face hindrances in South Africa has yet to receive in-depth studies. Thus, this study attempts to proffer policy solutions to improve the proposed revised guidelines and practices for MISA in LIC project execution in South Africa.
Design/methodology/approach
The study's objectives were accomplished via a combination of 16 virtual interviews of built environment professionals and government officials involved in LIC project execution in South Africa and supported by the analysed documents. A thematic approach was used to analyse the data and presented two main themes.
Findings
Findings show lax enforcement of discretionary funds, lax institutional capacity and inadequate individual skills, among others, as the gaps in existing South Africa's LIC guidelines and practices. Also, policy solutions to address the gaps were proffered.
Practical implications
The suggested feasible policies will improve the proposed revised guidelines and practices for MISA in LIC project execution in South Africa. This guide will promote the development of individual skills, institutional capacities and increase employment across South Africa.
Originality/value
This study promotes the use of LIC to create employment and contribute to proffering measures that will improve the proposed revised third edition of the guidelines and practices for MISA to execute LIC.
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Richard Kwame Adom, Mulala Danny Simatele, Dillip Kumar Das, Kalumba Ahmed Mukalazi, Mazinyo Sonwabo, Lindelani Mudau, Mikateko Sithole, Serge Kubanza, Coleen Vogel and Leocadia Zhou
Globally, climate change governance continues to be a significant challenge to policymakers, environmentalists and politicians despite international summits, conferences and…
Abstract
Purpose
Globally, climate change governance continues to be a significant challenge to policymakers, environmentalists and politicians despite international summits, conferences and programmes designed to find sustainable solutions to the climate change crises. Climate change continues to be viewed primarily as a challenge for the future, whereas many leaders and administrators globally regard it as an environmental issue rather than a challenge that encompasses all aspects of life. In South Africa, these misleading perceptions of climate change continue to prevail both at national and local levels. The government and private organisations do not attach the required levels of urgency needed to address the climate change crisis. While numerous policies and institutions have been established to address these challenges, they lack financial backing, coordination and synergy that cut across the broad objectives of environmental, social and economic agendas. Additionally, weak, eroding trust and manipulating of institutions continue to hinder effective policy implementation and focus-driven governance. This paper aims to explore the structural and governance weaknesses of climate change administration in the KwaZulu-Natal province and South Africa in general.
Design/methodology/approach
This paper used extensive literature reviews and a triangulated approach to investigate the weaknesses of the current governance structure in the context of institutional and capacity constraints.
Findings
The findings uncovered that most institutions and organisations mandated to address climate change challenges operate in silos, lack required investment and capacity and have weak accountability mechanisms with a shallow understanding of climate change governance.
Originality/value
This paper recommends better coordination between national, provincial and local governments as well as the private sector towards climate change activities and capacity to ensure that climate change actions are effectively implemented.
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This study aims to examine Musina municipality’s tourism development status and plans with existing documents and respondents’ responses on their envisaged implications on tourism…
Abstract
Purpose
This study aims to examine Musina municipality’s tourism development status and plans with existing documents and respondents’ responses on their envisaged implications on tourism development and sustainability initiatives in Vhembe District, Limpopo Province, South Africa.
Design/methodology/approach
Surveys, interviews and focus group discussions, supplemented by field observation and document reviews, gray literature alongside published literature, were applied. Subsequently, Microsoft Excel and cross-tabulation analysis orchestrated the analysis of the data.
Findings
The policy and strategy aspects contributing to the previous and actual tourism statuses in Musina municipality are defined. The study concludes that Musina Municipality has rich tourism possibilities but lacks a better tourism strategy to empower local communities. Nonetheless, it dwells in the most tourism-based landscape within the Vhembe District of Limpopo.
Originality/value
Musina Municipality is one of the driest areas in the north of Limpopo Province in South Africa. It is also marked by impoverished rural communities. Studies on sustainable tourism and development have increased in recent years. However, rare studies specialize in synergies within various forms of tourism. Also, significant resources to advance local communities in rural areas are not sufficiently appreciated.
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Mohamed Farhoud, Alex Bignotti, Ralph Hamann, Ngunoue Cynthia Kauami, Michelle Kiconco, Seham Ghalwash, Filip De Beule, Bontle Tladi, Sanele Matomela and Mollette Kgaphola
Context matters in social entrepreneurship, and it matters a lot. Social entrepreneurs are deeply entrenched in the context where they operate: they respond to its challenges, are…
Abstract
Purpose
Context matters in social entrepreneurship, and it matters a lot. Social entrepreneurs are deeply entrenched in the context where they operate: they respond to its challenges, are shaped by it, and attempt to shape it in turn. The purpose of this paper is to discuss how social entrepreneurship in Africa is still understood within the scope of Western theories, without much consideration for local variations of the commonly shared archetype of social entrepreneurship or for how African norms, values and beliefs may shape our common understanding of this phenomenon.
Design/methodology/approach
The authors survey the often-neglected literature on social entrepreneurship in Africa and bring it together in this paper to discuss – also from the vantage point of their own experience and research in diverse African countries – how important assumptions in the social entrepreneurship literature are confirmed, enriched or challenged by key dimensions of African contexts.
Findings
Four important themes in the literature on social entrepreneurship in Africa emerged – institutions, embedding values, entrepreneurial behaviour and bricolage and scaling impact – each with its own considerations of how African contexts may challenge predominant assumptions in the extant social entrepreneurship literature, as well as implications for future research.
Originality/value
The authors uncover ways in which the peculiarities of the African context may challenge the underlying – and mostly implicit – assumptions that have shaped the definition and analysis of social entrepreneurship. They end by offering their understanding of social entrepreneurship and its concomitant dimensions in Africa as a stepping stone for advancing the field in the continent and beyond.
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Anneli Douglas, Gijsbert Hoogendoorn and Greg Richards
This study aimed to determine the motivations of a select group of South Africans in terms of their potential engagement with cultural tourism; more specifically, the study set…
Abstract
Purpose
This study aimed to determine the motivations of a select group of South Africans in terms of their potential engagement with cultural tourism; more specifically, the study set out to show whether these motivations influence the cultural activities that the tourists want to participate in and whether their interest in specific cultural activities determines their destination choices. Furthermore, the mediating role of activities in the relationship between cultural motivations and destination choice was also assessed.
Design/methodology/approach
An online panel survey collected responses from 1,530 potential cultural tourists across South Africa. Hypotheses were tested, using structural equation modelling.
Findings
The results show that tourists' motivations for cultural tourism influence their likelihood of participating in specific cultural activities. Cultural tourism is shown to be influenced by more than learning and includes entertainment, relaxation, novelty and escape dimensions. There also seems to be a difference in the activities engaged in by destination type. For example, tourists likely to take part in indigenous cultural tourism activities are more likely to do so at hedonic destinations.
Practical implications
This paper contributes to the understanding of cultural tourism activities, aiding destinations in attracting cultural tourists. Destinations need to develop activities that match visitor motivations, increase satisfaction and encourage visitors to return.
Originality/value
The paper increases the understanding of cultural tourism in South Africa and underlines the importance of communities in providing distinctive tourism activities. The study also has an important social dimension, highlighting the role of social status in cultural tourism consumption and destination selection.
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This study employs the social ecology model to comprehensively explore the complex challenges young Black men face in South Africa and aims to highlight the importance of…
Abstract
Purpose
This study employs the social ecology model to comprehensively explore the complex challenges young Black men face in South Africa and aims to highlight the importance of collaboration in addressing these multifaceted issues.
Design/methodology/approach
A multidisciplinary approach combines insights from sociology, education and the health literature with regard to government reports and academic data, and provides a holistic analysis of challenges faced by young Black men. Furthermore, it emphasises formal and informal learning, social and environmental influences and health disparities.
Findings
Young Black men in South Africa encounter complex challenges throughout their developmental journey, including limited family support, educational barriers, financial constraints, societal expectations and health disparities. Therefore, collaboration among stakeholders is essential for creating an equitable and inclusive environment that supports their development.
Originality/value
This research provides a comprehensive understanding of the challenges faced by young Black men in South Africa by emphasising the interconnectedness of informal education, economic empowerment and healthcare. Future research should focus on longitudinal studies, cultural influences and international comparisons, informing evidence-based interventions for a more equitable society.
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David Korsah, Godfred Amewu and Kofi Osei Achampong
This study seeks to examine the relationship between macroeconomic shock indicators, namely geopolitical risk (GPR), global economic policy uncertainty (GEPU) and financial stress…
Abstract
Purpose
This study seeks to examine the relationship between macroeconomic shock indicators, namely geopolitical risk (GPR), global economic policy uncertainty (GEPU) and financial stress (FS), and returns as well as volatilities on seven carefully selected stock markets in Africa. Specifically, the study intends to unravel the co-movement and interdependence between the respective macroeconomic shock indicators and each of the stock markets under consideration across time and frequency.
Design/methodology/approach
This study employed wavelet coherence approach to examine the strength and stability of the relationships across different time scales and frequency components, thereby providing valuable insights into specific periods and frequency ranges where the relationships are particularly pronounced.
Findings
The study found that GEPU, Financial Stress (FS) and GPR failed to induce significant influence on African stock market returns in the short term (0–4 months band), but tend to intensify in the long-term band (after 6th month). On the contrary, stock market volatilities exhibited strong coherence and interdependence with GEPU, FSI and GPR in the short-term band.
Originality/value
This study happens to be the first of its kind to comprehensively consider how the aforementioned macro-economic shock indicators impact stock markets returns and volatilities over time and frequency. Further, none of the earlier studies has attempted to examine the relationship between macro-economic shocks, stock returns and volatilities in different crisis periods. This study is the first of its kind in to employ data spanning from May 2007 to April 2023, thereby covering notable crisis periods such as global financial crisis (GFC) and the COVID-19 pandemic episodes.
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