Theses and Dissertations

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Browsing Theses and Dissertations by Subject "Africa"

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    Are African stock markets intergrated? The case of JSE and selected African stock markets
    (University of Fort Hare, 2014-09-30) Ncube, Gaile
    Generally African stock markets are deemed to be small, segmented and illiquid. The study utilises monthly data for the period of 2000 to 2008, employing the Johansen and Julius cointegration method to determine the long run relationship between the five selected African stock markets. Granger causality test were also conducted to establish if there is any causal links between the stock markets in Africa. The analysis in the study indicates that African stock markets are improving in performance generally, growing and developing. However empirical results indicate that African markets are segmented. A further analysis, to determine the relationship between the five selected African stock markets and the world stock markets, show that African stock markets are affected by developments in the international markets. Hence portfolio diversification opportunities exist in the African stock markets suggesting that investors should also consider investing in their African countries as they offer opportunities rather than considering investing in the international markets only.
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    Financial sector reforms and banking stability in the Southern African Development Community (SADC)
    (University of Fort Hare, 2024-11-29) Ndubela, Ayavuya; Lawana, N; Kapingura, FM
    The banking sector plays a very critical role to the development of a country. However, in the Southern African Development Community region, in some member countries the banking sector is not well developed. The region continues to encounter major obstacles in the growth of its banking sector, which impedes the rate of economic development, even after implementing several measures to strengthen the banking industry, non-banking sector, and financial markets. Reducing government involvement, opening financial markets, and fortifying financial institutions are all part of the financial sector reforms that has been a key element of developing countries' structural adjustment plans. Despite these reforms, the majority of Southern African countries still have relatively weak financial systems. The literature on financial sector development does also highlight that the reforms which maybe implemented in the sector may also influence the stability of the financial system which may create instability and thwart any growth prospects. The aim of any economy whether developed or developing is to achieve stability, reduce unemployment and sustain economic development through macroeconomic policy which these SADC countries aim to achieve. Given this background, the study examined the effect of financial sector reforms on banking stability in the SADC region for the period from 2013 to 2023 employing the Generalized Method of Moments. The study was underpinned by the financial liberalization theory of McKinnon and Shaw (1973) which shows how financial reforms can result in the development of the banking sector. The findings reveal that proper implementation of financial sector reforms (any changes in banking regulation) results in banking stability. This provides valuable insights for policymakers to design effective strategies for promoting financial sector reforms and banking stability in the SADC region.