Thesis (MComm (Logistics))--Stellenbosch University, 2008. / Although global changes like political security, depletion of natural resources, energy supply and global warming are affecting all continents; Africa struggle the most to cope with these changes. This is due to the many historical impediments that Africa still has to overcome. Examples of these impediments are the negative effects caused by civil wars, poverty, poor infrastructure and a lack of skills. Providing reliable, effective and efficient infrastructure underpins all attempts to facilitate trade, grow the economy and reduce poverty in Sub-Saharan Africa (SSA). SSA transportation related infrastructure is limited and generally in a poor condition. This poor state of transport infrastructure impedes SSA's development. However, it is not only the state of the infrastructure that challenges Africa - complicated customs and administrative procedures and inefficiencies when goods are handled at terminals and transferred from one transport mode to another also impede its potential for economic growth. In spite of these limitations, the SSA economy has been growing. As many as 28 countries (out of 48) in SSA recorded improvements in growth in 2006 and 2007. This growth was underpinned by improvement in macro-economic management in many countries, and a strong global demand for key African export commodities (sustaining high export prices, especially for crude oil, metals and minerals). Greater flows of capital to Africa, debt relief and increasing trade with the developing Asia have also helped increase resources and lift growth across SSA. The strong economic growth in the region also reflects the institutional improvements, structural reforms, and more rigorous economic policies that have started to bear fruit in many countries.

Thesis (MA)--Stellenbosch University, 2012. / ENGLISH ABSTRACT: Africa’s rising international profile and geopolitical significance as well as the continent’s relatively ‘under-exploited markets’ have been pull factors for many emerging economies. Globally, the developing and emerging economies of the world for the first time captured more than half of all global FDI in 2011. Changes in the global investment regime are a clear indication of the changing dynamics in the global economy. Since India and China’s FDI liberalisation processes began to gather steam in the 1990s, they have been amongst the most aggressive of the emerging economy investors. This study appraises the role of the government in facilitating investment by Indian and Chinese firms abroad, specifically Sub-Saharan Africa. The study analyses the motivations for such outward foreign direct invest flows, the sectoral trends, and the entry mode differences of Indian and Chinese firms’ investments in Sub-Saharan African markets. Yet, there is a lack of studies that focus on both Indian and Chinese investments in Sub-Saharan Africa. Drawing from theoretical constructs from political economy, International business /economics and International Political Economy - a framework is provided to assess the influence of these investments. The methodology is interpretive and qualitative and draws largely on secondary material from international organisations, government agencies, academic literature and the media. The study finds that the role of New Delhi and Beijing in facilitating and financing outward investments is strategic and pragmatic. These policies greatly influence firms, and the locations and types of their investments. South-South cooperation provides India and China with a framework for long-term political and economic investments and development cooperation with African states. India and China’s engagements in Sub-Saharan Africa share similar and dissimilar forms and motivations for FDI. Markets and resources are primary motivations for these two countries’ firms to invest in the region. India and China’s growing commercial activities in Sub-Saharan Africa provide the region with opportunities for further international market integration and development. / AFRIKAANSE OPSOMMING: Afrika se ontluikende internasionale profiel en geopolitieke belang tesame met die vasteland se relatief ‘onderbenutte’ markte is ’n trekfaktor vir baie ontluikende ekonomieë. Terwyl vloeie uit buitelandse direkte investering (BDI) na Afrika, wat ’n hoogtepunt in 2008 bereik het, in 2010 steeds afgeneem het, was die ontwikkelende en ontluikende ekonomieë van die wêreld vir die eerste keer in besit van meer as die helfte van alle wêreldwye BDI in 2011. Veranderings in die internasionale beleggingsregime is ’n duidelike aanduiding van die veranderende dinamika in die wêreldekonomie. Sedert Indië en China se liberaliseringsprosesse met betrekking tot BDI in die 1990’s begin ontwikkel het, is hulle van die aggressiefste beleggers onder opkomende ekonomieë. Die gebrek aan streekstudies wat op Indiese en Chinese beleggings fokus, verg egter verdere aandag. Die doel van die studie is om die rol van die regering in die fasilitering van Indiese en Chinese maatskappye om in die buiteland te belê te ontleed. Die fokus val veral op Afrika suid van die Sahara, en op die motiverings vir hierdie BDI-vloeie, die sektortendense en wyse van toetreding van Indiese en Chinese maatskappye se beleggings in Afrikamarkte. Bestande uit teortiese konstakke uit internasionale sakestudie, internasionale politieke ekonomie en politieke ekonomie, word ‘n raamwerk waarin die invloed van hierdie beleggings op wat assesseer word is interpritiet en kwalitatiet en stan op sekondêre materiaal en data van regeringsagentskappe, akademiese literatuur en die media. Die gebruik van ’n veelsoortige teoretiese raamwerk wat ekonomiese en politieke beleggingsverskynsels uitbeeld, illustreer die versoenbaarheid van politiek, ekonomie en sakegebaseerde akademiese gebiede en die moontlikheid om grondliggende uitkomste uitkomste vir navorsing oor beleggingstendense en -strategieë in ontluikende ekonomieë te bied. Die studie bevind dat die rol van New Delhi en Beijing in die fasilitering en finansiering van buitelandse beleggings strategiese en pragmaties is, en dat beleide maatskappye grootliks beïnvloed ten opsigte van waar hulle belê en watter soort beleggings hulle maak. Verder, verskaf Suid–Suid-samewerking, ‘n raamwerk vir verbintenis langtermyn- politieke en ekonomiese beleggings en ontwikkelingsamewerking met Afrikastate. Indië en China se betrokkenheid in Afrika toon ooreenstemmende en verskillende vorme en motiverings vir BDI, en markte en hulpbronne is primêre motiverings vir hierdie twee lande se maatskappye in die streek te belê.

Thesis (MA)--Stellenbosch University, 2000. / ENGLISH ABSTRACT: In 1993, international food aid reached a record high level, but by 1997 food aid had fallen to its lowest level in more than two decades. Though the post-1993 decline of food aid has been the dominant trend in food aid, there has also been a significant growth in food aid during the period in question. This thesis aims to understand the paradoxical, but parallel, growth and decline of food aid since 1993 from a neo- Gramscian perspective. The neo-Gramscian approach to international relations is a historically sensitive, non-deterministic Marxist perspective, normatively committed to transformation towards a more just world order. This perspective assists us in understanding the relative freedom enjoyed by the hegemon from the structural and institutional constraints faced by other states. The neo-Gramscian approach is unique in indicating the role of middle powers and international organisations in perpetuating and legitimising the hegemonic order, whereby middle powers strongly support international organisations. The decline of food aid occurred because agricultural surplus availability has remained the most important factor determining food aid levels, with food aid consequently declining as cereal prices increased after 1993. Furthermore, the food aid regime has proved too weak to enforce a severing of the link between food aid and agricultural surplus for most states, particularly the largest food aid donor and hegemon, the United States. The growth of food aid has been the result of the support given to relevant international organisations and agreements by middle powers, despite middle powers initially having been manipulated into participating in the food aid regime by the hegemonic United States. The possible implications of the trends identified in this study for the future of food aid to Sub- Saharan Africa, also enjoy consideration. / AFRIKAANSE OPSOMMING: In 1993 het internasional voedselhulp 'n rekord hoogtepunt bereik, maar teen 1997 het voedselhulp geval tot die laagste vlak in meer as twee dekades. Alhoewel die post- 1993 afname van voedselhulp die uitstaande tendens in voedselhulp was tydens die betrokke periode, het voedselhulp ook gegroei gedurende hierdie tydperk. Hierdie tesis beoog om die teenstrydige, maar parallelle, groei en afname van voedselhulp sedert 1993 te verstaan vanuit 'n neo-Gramsciaanse perspektief. Die neo- Gramsciaanse benadering tot internasionale betrekkinge is 'n histories sensitiewe, niedeterministiese Marxistiese perspektief, normatief verbind tot transformasie na 'n meer regverdige wêreldorde. Hierdie perspektief help ons om die hegemoon se relatiewe vryheid van die strukturele en institusionele beperkinge en struikelblokke wat deur ander state in die gesig gestaar word, te verstaan. Die neo-Gramsciaanse benadering is uniek in die klem wat dit plaas op die rol van middelslag-moondhede en internasionale organisasies in die stabilisering en legitimering van die hegemoniese orde. Die afname in voedselhulp het plaasgevind omdat die beskikbaarheid van landbousurplus nog steeds die belangrikste bepalende faktor van voedselhulpvlakke is, met 'n gevolglike afname in voedselhulp toe graanpryse gestyg het na 1993. Wat meer is, die voedselhulpregime was te swak om 'n verbreking van die verband tussen voedselhulp en landbousurplus af te dwing met betrekking tot die meeste donateurstate, maar veral ten opsigte van die hegemoon en grootste donateur van voedselhulp, die Verenigde State. Die groei van voedselhulp is te danke aan die ondersteuning van die betrokke internasionale organisasies en ooreenkomste deur middelslag-moondhede, alhoewel die hegemoniese Verenigde State middelslagmoondhede aanvanklik moes manipuleer tot deelname aan die voedselhulpregime. Die moontlike implikasies van die tendense geïdentifiseer in hierdie studie vir die toekoms van voedselhulp na Sub-Sahara Afrika, geniet ook oorweging.

Thesis (PhD)--Stellenbosch University. / ENGLISH ABSTRACT: Education has always occupied a central role in the discipline of economics, featuring prominently in the theoretical constructs of the discipline and, more recently, in their empirical applications. While one can trace the origins of Human Capital theory all the way back to Adam Smith’s ‘The Wealth of Nations’, the two major advances in our understanding of education’s role in economic development transpired in the last 50 years. The first was half way through the 20th century with the work of work of Mincer (1958), Schultz (1961) and particularly that of Becker (1962) who formalized the idea of Human Capital. The second advance was at the turn of the 21st century when Hanushek and Kimko (and later Wößmann) incorporated measures of education quality into their models of economic growth. This latest strand of research serves as the point of departure for this thesis, placing education quality at the centre of the discussion. The thesis begins by focussing on the South African case and highlighting three broad issues that characterise education in the country: (1) the high levels of inequality that can be seen when comparing student performance by race, language, geographic location and socioeconomic status. New evidence is presented to show that South Africa does indeed have two public schooling systems, reiterating and confirming the findings of other South African scholars. (2) Using intra-survey benchmarks of student achievement, Chapter 2 develops a new method of quantifying learning deficits in mathematics by using three different datasets covering grades 3, 4, 5, 6 and 9. The learning gap between the poorest 60% of students and the wealthiest 20% of students is found to be approximately three grade-levels in grade 3 and grows to between four and five grade-levels by grade 9. (3) The focus then shifts to the complex issue of language and performance, which is addressed in Chapter 3. Here the aim is to exploit an unusual occurrence whereby a large group of South African students were tested twice, one month apart, on the same test in different languages. Using a simplified difference-in-difference methodology it becomes possible to identify the causal impact of writing a test in English when English is not a student’s home language. The final two chapters of the thesis widen the remit of analysis to include 11 countries in Sub-Saharan Africa, viz. Kenya, Lesotho, Malawi, Mozambique, Namibia, South Africa, Swaziland, Tanzania, Uganda, Zambia and Zimbabwe. Here the aim is to develop a composite measure of education access and education quality by combining household data (DHS) on grade completion and survey data (SACMEQ) on cognitive outcomes. The new measure, termed access-to-literacy and access-to-numeracy is reported for all countries and important sub-groups in Chapter 4. The method is then used in Chapter 5 to compare access-to-learning over a period of increased access to schooling (2000-2007). In all countries there was an improvement in access to literacy and numeracy, challenging the widely held perception that there is always an access-quality trade-off in education. In particular, girls and those in relatively poor households benefited most from this improvement in access to literacy and numeracy. The thesis ultimately concludes that if children are to realize their full potential, the expansion of physical access to schooling in the developing world must be accompanied by meaningful learning opportunities. The acquisition of knowledge, skills and values must be the central aim of educational expansion. / AFRIKAANSE OPSOMMING: Onderwys het nog altyd ʼn rol in ekonomie as vakgebied gespeel. Dit is verstaanbaar, want vaardighede en onderwys was nog altyd ʼn prominente deel van die teoretiese konstrukte en meer onlangs ook van empiriese toepassings in die dissipline. Terwyl die oorsprong van menslike-kapitaalteorie teruggevoer kan word na Adam Smith se Wealth of Nations, het die twee grootste deurbrake met die verstaan van onderwys se rol in ekonomiese ontwikkeling in die laaste vyftig jaar plaasgevind. Die werk van Mincer (1958), Schultz (1961) en veral Becker (1962), wat in die middel van die vorige eeu formele gestalte aan die begrip ‘menslike kapitaal’ gegee het, was die eerste deurbraak. Die tweede deurbraak was teen die eeuwending toe Hanushek en Kimko (en later Wößmann) maatstawwe van onderwysgehalte in hulle ekonomiese groeimodelle begin insluit het. Hierdie nuwe tak van die navorsing plaas onderwys vierkant in die sentrum en dien as vertrekpunt vir hierdie proefskrif. Die proefskrif begin deur aandag op drie breë kwessies te vestig wat kenmerkend is van onderwys in Suid-Afrika: (1) Die hoë vlakke van ongelykheid volgens ras, taal, geografiese gebied en sosio-ekonomiese status in studente se prestasie. (2) In hoofstuk 2 word ʼn nuwe metode aangebied om leeragterstrande kwantitatief te meet met behulp van norme van leerlingprestasie in skoolvlak-opnames vir grade 3, 4, 5, 6 en 9. Daar word bevind dat die leergaping tussen die armste 60% en die rykste 20% van studente in graad 3 ongeveer drie jaar is en teen graad 9 tot vier of vyf jaar aangroei. (3) Die fokus verskuif daarna na die verwikkelde kwessie van taal en skoolprestasie, wat in hoofstuk 3 bespreek word. Hier is die doel om die ongewone geval uit te buit waar ʼn groot groep Suid-Afrikaanse leerlinge binne die verloop van ʼn maand tweemaal dieselfde toets geskryf het, maar in twee verskillende tale. Met behulp van ʼn vereenvoudigde verskil-tussen-verskille-benadering is dit moontlik om te bepaal hoe groot die kousale effek is waar ʼn leerling wie se moedertaal nie Engels is nie die toets in Engels moes skryf. Die laaste twee hoofstukke van die proefskrif bevat ʼn wyer analise van elf lande in Sub-Sahara Afrika, naamlik Kenia, Lesotho, Malawi, Mosambiek, Namibia, Suid-Afrika, Swaziland, Tanzanië, Uganda, Zambië en Zimbabwe. Die doel is om ʼn saamgestelde maatstaf van onderwys-toegang en -gehalte te skep deur huishoudingsdata (DHS) oor graadvoltooiing en skoolopnamedata (SACMEQ) oor kognitiewe uitkomste te kombineer. Die nuwe maatstaf, genaamd ‘toegang-tot-geletterdheid’ en ‘toegang-tot-syfervaardigheid’, word in hoofstuk 4 vir al die lande en subgroepe opgestel. Die metode word dan in hoofstuk 5 gebruik om toegang-tot-leergeleenthede te vergelyk oor ʼn periode waartydens skooltoegang verbreed het (2000-2007). Daar was ʼn verbetering in toegang tot geletterdheid en syfervaardigheid in alle lande, teenstrydig met die wyd-gehuldigde siening dat daar altyd ʼn afruiling tussen toegang en gehalte van onderwys bestaan. In besonder word bevind dat meisies sowel as kinders uit arm huishoudings die meeste by die toename in toegang tot geletterdheid en syfervaardigheid gebaat het. Die gevolgtrekking is dat die vervulling van die potensiaal van kinders in die ontwikkelende wêreld vereis dat die verbreding van fisiese toegang tot skole met beduidende leergeleenthede gepaard moet gaan. Die aanleer van kennis, vaardighede en waardes moet die sentrale doel van die uitbreiding van onderwysgeleenthede wees.

According to the Joint United Nations Programme against HIV/AIDS 2009 AIDS epidemic update, there were a total of 33.3 million (31.4 million–35.3 million) people living with HIV worldwide in 2009. The majority of the epidemic occurs in Sub-Saharan Africa. Of the 33.3 million people living with HIV worldwide in 2009, a vast majority of 22.5 million (20.9 million-24.2 million) were from Sub-Saharan Africa. There were 1.8 million (1.6 million-2.0 million) new infections and 1.3 million (1.1 million-1.5 million) AIDS-related deaths in Sub-Saharan Africa in 2009 (UNAIDS, 2009). Statistical models and analysis are required in order to further understand the dynamics of HIV/AIDS and in the design of intervention and control strategies. Despite the prevalence of this disease, its pathogenesis is still poorly understood. A thorough understanding of HIV and factors that influence progression of the disease is required in order to prevent the further spread of the virus. Modelling provides us with a means to understand and predict the progression of the disease better. Certain genetic factors play a key role in the way the disease progresses in a human body. For example HLA-B types and IL-10 genotypes are some of the genetic factors that have been independently associated with the control of HIV infection. Both HLA-B and IL-10 may influence the quality and magnitude of immune responses and IL-10 has also been shown to down regulate the expression of certain HLA molecules. Studies are therefore required to investigate how HLA-B types and IL-10 genotypes may interact to affect HIV infection outcomes. This dissertation uses the Sinikithemba study data from the HIV Pathogenesis Programme (HPP) at the Medical School, University of KwaZulu-Natal involving 450 HIV positive and treatment naive individuals to model how certain outcome biomarkers (CD4+ counts and viral loads) are associated with immuno genetic parameters (HLA-B types and IL-10 genotypes). The work also seeks to exploit novel longitudinal data methods in Statistics in order to efficiently model longitudinally measured HIV outcome data. Statistical techniques such as linear mixed models and generalized estimating equations were used to model this data. The findings from the current work agree quite closely with what is expected from the biological understanding of the disease. / Thesis (M.Sc.)-University of KwaZulu-Natal, Pietermaritzburg, 2011.

Doctorat en sciences sociales, politiques et économiques / info:eu-repo/semantics/nonPublished

Many development organisations are initiating programs in Sub-Saharan Africa bringing information technology to community centres, schools, universities, and government institutions. In the United States and more particularly Silicon Valley, California, people are convinced of the benefits of the Internet. An organisation started in this context, Schools Online, has initiated programs in over 31 countries and spent millions of dollars in the South. The study focuses on Schools Online's history, structure, and vision while researching its activities in a rural school in the town of Jinja, Uganda, in Sub-Saharan Africa. It is recommended that Schools Online listens and learns from its beneficiaries when planning an information technology project. / Development Studies / M. A. (Development Studies)

Thesis (MPA)--Stellenbosch University, 2000. / ENGLISH ABSTRACT: The principles and characteristics of peacekeeping, as the United Nations (UN) in its search towards global peace and stability originally intended, are not adhered to in Sub-Saharan African countries. In this context, peacekeeping operations are perceived to be synonymous with biased armed intervention and the enforcement of peace through the application of force, often without the consent of the parties involved in conflict. As the political situation in many Sub-Saharan African states deteriorates, a greater need for peacekeeping and even peace enforcement operations has arisen. Mounting pressure on South Africa from regional forces, as well South Africa's own national interest to become involved in peacekeeping, calls for an evaluation of 'Sub-Saharan African peacekeeping' per se. This situation creates a dilemma as regards both the responses by regional organs and the reaction of states to the endemic and escalating conflicts in collapsing states. Can what is currently happening in Sub-Saharan African still be referred to as peacekeeping? Do we need a fresh approach to conflict resolution in Sub- Saharan Africa? Are the UN principles, set in a post-World War " global context, still applicable in a deteriorating intra-state context? In an attempt to find answers to these questions, this research focuses on the nature of peacekeeping operations from an analytical, comparative perspective with the aim of identifying commonalities and differences in the approaches and practices of countries that have participated in peacekeeping operations. Could it be that 'classical' UN peacekeeping has simply become historically outdated and that modern peacekeeping operations are dictated by the socio-political environment and thus requires a new approach? It would appear that the concept of peacekeeping needs to be re-defined from an African perspective in order to equip regional organs with a firm theoretical foundation for possible future involvement in Sub-Saharan African peacekeeping and peace enforcement endeavours. The UN's peacekeeping performance on the African continent over the past decade has raised serious doubts as to whether the UN has the capacity or will to deal effectively with inter-state and more specifically, intra-state conflict. Consequently, Sub-Saharan African peacekeeping is currently standing at a crossroad. It is also evident that a transition needs to be made from 'classical' UN peacekeeping principles to a 'modern' African approach in touch with Africa's prevailing circumstances and demands. From the research findings and case studies, a conclusion is drawn concerning how 'modern' peacekeeping practices compare to 'classical' peacekeeping, as envisaged in Chapter VI of the UN Charter. In addition, a model is proposed for dealing with the unique challenges of Sub-Saharan African intra-state conflict. / AFRIKAANSE OPSOMMING: Die beginsels en kenmerke van vredebewaring, soos die Verenigde Nasies (VN) in sy soeke na wêreldvrede en stabiliteit oorspronklik beoog het, word nie in Afrika suid van die Sahara eerbiedig nie. In die konteks, word vredebewaringsoperasies geag as sinoniem te wees met partydige gewapende inmenging en die afdwing van vrede deur die aanwending van mag, dikwels sonder die toestemming van diegene wat in die konflik betrokke is. Die verslegtende politieke situasie in vele lande in Afrika suid van die Sahara bring mee dat 'n groter behoefte bestaan vir vredebewaring en selfs operasies om vrede af te dwing. Toenemende druk op Suid-Afrika deur streeksmagte sowel as Suid-Afrika se eie nasionale belang om by vredebewaring in Afrika betrokke te raak, noodsaak juis 'n evaluasie van vredebewaring in Afrika suid van die Sahara. Hierdie situasie veroorsaak 'n dilemma in sover dit die reaksie betref van streeksorganisasies sowel as dié van mislukkende state wat toenemend by inheemse konflik betrokke raak. Kan dit wat tans in Afrika suid van die Sahara aan die gebeur is steeds beskou word as vredebewaring? Word 'n nuwe benadering tot die beslegting van inheemse konflik in Afrika suid van die Sahara vereis? Is die VN beginsels soos gestel binne 'n globale na-tweedewêreld- oorlogse konteks steeds van toepassing op 'n verslegtende intra-staat konflik konteks? In 'n poging om antwoorde te vind op dié vrae, fokus die navorsing op die aard van vredebewaringsoperasies vanuit 'n analitiese, vergelykende perspektief. Hierdie fokus het ten doel om ooreenkomste en verskille in die benaderings tot en toepassings van vrede in lande wat aan vredebewaringsoperasies deelgeneem het, te identifiseer. Is dit dalk moontlik dat 'klassieke' vredebewaring histories verouderd is en dat 'moderne' vredebewaringsoperasies deur die sosio-politiese omgewing dikteer word en as sulks, 'n nuwe benadering vereis? Dit wil voorkom asof die konsep van vredebewaring vanuit 'n Afrika perspektief her-definieer behoort te word sodat streeksorganisasies toegerus kan word met stewige teoretiese grondbeginsels waarop toekomstige vredebewaringsoperasies in Afrika suid van die Sahara gebaseer kan word. Die VN se vertoning in die bewaring van vrede en meer spesifiek, dié se vertoning die afgelope dekade, laat ernstige twyfel ontstaan oor dié organisasie se vermoë of wil om effektief met konflik binne en tussen state te handel. As gevolg hiervan, bevind Afrika suid van die Sahara haar by 'n kruispad wat die bewaring van vrede aanbetref. Dit is ook duidelik dat daar 'n verskuiwing behoort plaas te vind vanaf 'klassieke' vredebewaringsbeginsels na 'n meer 'moderne' Afrika benadering wat in pas is met Afrika se eiesoortige omstandighede en eise. Vanuit die navorsingsbevindinge en gevallestudies word daar in die gevolgtrekkings gekyk in hoe 'n mate 'moderne' vredebewaring in die praktyk met 'klassieke' vredebewaring, soos beoog in Hoofstuk VI van die VN Handves, vergelyk. Aansluitend hierby, word 'n model voorgestel vir die hantering van die intra-staat vraagstukke wat voortspruit uit konflik binne state in Afrika suid van die Sahara.

Thesis (MDF)--Stellenbosch University, 2015. / ENGLISH ABSTRACT: In light of the 2007/2008 global financial crisis, as well as pre- and post-crisis banking reform, this research investigated changes in competitive behaviour among banks in Sub-Saharan Africa, thus adding new insights to the current debate. The main findings from the empirical test were as expected and suggested conditions of monopolistic competition. In order to validate sufficient conditions for observing competition, an empirical test conducted to measure a state of general market equilibrium, had the expected outcome. Specifically, the research methodology applied the Panzar-Rosse model, a non-structural approach in the manner of the New Empirical Industrial Organisation. In the first instance, the model derived a continuous measure of a static H-statistic with a value of 0.57, using 481 bank-year observations from an unbalanced panel of 83 banks from six countries over the period 2008–2013. The H-statistic measured the degree of competition by explaining how changes in market power or unit factor input prices of funds, labour and capital expenditure influenced the pricing output of banks. A computed E-statistic, which was statistically equivalent to zero, validated the significance of the H-statistic, as the result implied that, in equilibrium, market power of a bank does not influence its returns. Overall, the findings were consistent with the pricing and strategy theories, such as contestable markets theory, which indicates that pricing power is associated with neither industry structure nor concentration, but instead with changes in input prices. In addition, the findings were consistent with relevant prior studies, which concluded that banking systems in parts of Europe, Asia, Latin America and Sub-Saharan Africa were monopolistic, and that banking reform influenced market discipline.

The literature investigating the relationship between stock market returns and inflation is long and has produced diverse findings. This thesis examines the nature of stock–inflation relations in Sub-Saharan countries whose stock markets were established before 1992. Evidence in this thesis shows that in the short term there is a positive relationship between stocks and inflation. Using the Johansen (1988) evidence, a long-run stock–inflation relationship is confirmed only in Nigeria and South Africa, where it is found to be negative. However, accounting for structural breaks provides evidence for a long-run relationship in Botswana, Ghana and Kenya. The evidence of the effects of regimes in the relationship is further supported by a nonparametric cointegration analysis which finds a long-run relation in countries where the Johansen (1988) method had failed. Unexpected inflation is also found to be related to stock returns in Botswana, Ghana, Kenya, Nigeria and Mauritius, which raises concerns about the use of month-end stock data in analysing this relationship. The thesis confirms the existence of hidden inflation in Kenya, Mauritius, Nigeria and Zimbabwe. Imported inflation, interest rates and the exchange rate are found to have useful information about inflation movements in Sub-Saharan Africa.