Masters in Management: Finance and Investment, Wits Business School / Since the early 1990s an increasing number of countries are adopting inflation targeting and although it has been lauded as a successful monetary policy regime this paper seeks to determine whether or not inflation targeting is sufficient to bring about financial market stability. We compare 10 emerging market economies, 6 that have adopted inflation targeting and 4 that have not in order to ascertain whether or not there is a significant difference between these groups of countries based on 2 financial market stability indicators, the first being the volatility of equity markets and the second being currency volatility. From these results, there is no evidence that inflation targeting has had any impact on the stability of financial markets and in some instances, non-targeters have outperformed targeters in terms of the improvements in stability

October 2015 A research report submitted to the Faculty of Management, University of the Witwatersrand, in 25% fulfilment of the requirements for the degree of Masters in Management (in the field of Public and Development Management) / Over the last forty to fifty years the industry that supports international development cooperation, has become more complex in its pursuit of multifaceted development objectives. Studies suggest that history, politics and a power differential between aid recipients and the foreign aid workforce undermine the development policy process locally. This study explores local engagement on development policy in Malawi, between public officials/aid recipients and donor-agency practitioners/foreign aid workforce; and the role of the 2008 Paris Declaration (PD) on Aid Effectiveness in this engagement. The two significant findings are that, while there are some adverse effects of history, politics and power in engagement on development policy, there is also evidence of replicable outcomes that can bolster the policy process. Secondly, the democracy model in practice in Malawi is struggling to deliver development policy dividends. The study concludes that both the state and donor agencies working in Malawi should mutually leverage global commitments, domestically, and use them to negotiate an increase in development aid committed to improving the development processes, for greater national ownership. The study specifically recommends the adoption of deliberative democratic development processes. This nuanced approach may improve Malawi’s ability to yield development policy dividends

The phrase a 'culture of silence' is attributed to Jerry Rawlings in the late 1980s, at a time when he was military head of state in Ghana. The irony is that he appeared to be complaining about the 'culture of silence' created by his own military regime. In a 'culture of silence' the masses are mute, that is, they are prohibited from taking part in the transformation of their society. In a neo-colonial state, a 'culture of silence' is imposed on the masses and peace and order are guaranteed by ferocious repression. The basic premise that motivates this research is that the neo-colonial state, a byproduct of the colonial state was influential in imposing the 'culture of silence' and fear in the lives of ordinary people. As such, a defining feature of the neo-colonial state, it is argued, is a 'culture of silence'. Definitions and analysis of the neocolonial state follow lines of arguments put forward by African writers such as Claude Ake, Ngugi wa Thiong'o and Mahmood Mamdani. Within this broad paradigm of neo-colonialism, and analysis of Banda's Malawi is developed which pays particular attention to a 'culture of silence'. This in turn leads to an examination of the effect of liberalization on political and civic space in Malawi. The dissertation then, examines civil society activities, during the period of transition of the Malawian state from de jure one-party to de jure multiparty. Here the key research question are: to what extent has an expansion of political space been accompanied by an expansion of civic space, and how, if at all, do civil society organizations ensure that government pays attention to the diversity of voices of the Malawian people? Are traditionally marginalized voices now heard? The objective is to examine to what extent the 'culture of silence' has been dismantled in terms of the opening up of political and civic space in order to enable a 'clamour of voices' to be heard. / Thesis (M.Soc.Sc.)-University of Natal, Pietermaritzburg, 2002.

This study sought to find out the extent to which decentralisation has brought about development in the rural areas in Malawi, specifically focusing on Salima District Council. It sought the views from the local communities themselves and government officials at district level on decentralisation in relation to rural development. Although the study used both qualitative and quantitative approaches, it was predominantly qualitative. As such, it used mixed methods of data collection, which included in-depth interviews, direct observations, questionnaires, focus group discussions (FGDs) and documentary search. Qualitative data was developed into themes and concepts and was subsequently interpreted in a trustworthy manner so as to reflect the true meaning of the data. In other words, explanations were attached to each theme or concept in an attempt to give the meaning of the data. The study found out that decentralisation is effective in terms of rural development such that local people are able to demand for services of their choice from local governments but the main challenge or constraint is availability of financial resources to cater for all the demanded public services. Other major barriers to rural development include capacity deficiencies at district and grassroots level and tensions among key stakeholders competing to maximize their role in local governments. Basing on these findings, and financial resources being the major barrier to rural development, the study recommends that Government should make sure that enough financial resources are released and channelled to district councils to cater for the needs of the communities. The study also recommends that councils should strive to generate more local revenues to cope up with the demand from the communities. And finally, the study recommends that Government should recognize local governments as entities on which is bestowed a huge responsibility of improving socio-economic conditions of the rural areas where 87 percent of the population lives, therefore provision of resources and enabling legislation to enhance rural development should be the primary focus. Of course, these recommendations should be understood within the context of the studied district. Otherwise there is potential for different and expanded recommendations if one replicated the study to cover the entire country.

Thesis (PhD)--Stellenbosch University, 2015 / ENGLISH ABSTRACT : This study investigated the political role of the Weekend Nation newspaper in the democratisation of Malawi between 2002 and 2012 within the context of its foundational and ownership structures by a politician. Bearing in mind that the newspaper was founded by a politician belonging to the first democratically elected ruling party, the United Democratic Front (UDF), this research sought to examine the impact of media ownership on the political role of the Weekend Nation’s journalistic practices in Malawi’s democratisation. Between 2002 and 2012, Malawi was governed by three presidents – Bakili Muluzi of the UDF from 1994 to 2004, Bingu wa Mutharika of the Democratic Progressive Party (DPP) from 2004 to 2012, and Joyce Banda of the People’s Party (PP) from 2012 to 2014 – all of whom were hostile to the Weekend Nation. Taking into cognisance the ownership of the Weekend Nation by a politician, the critical political economy theory of the media was deemed to be the most appropriate theoretical framework for this study. In media research, the critical political economy theory asserts that owners are able to regulate the output of the media institution either by intervening in the day-to-day operations, or by establishing general goals and understandings and appointing managerial and editorial staff to implement them within the constraints set by the overall allocation of resources. The study employed a qualitative research methodology, in particular in-depth interviews and qualitative content analysis. Research findings indicate that overall, the political ownership of the newspaper had no direct bearing on the journalists’ political role in the enhancement of democracy and good governance in Malawi. It established that despite the ownership of the Weekend Nation belonging to a prominent and influential politician, the editorial independence was not compromised. Contrary to general expectations, this study established that the Weekend Nation in Malawi, was critical to the political elite in an indiscriminate manner. Although it was not the focus of this study, the research also showed that market forces, in line with the stance taken by the critical political economy theory, had some impact on the Weekend Nation’s editorial independence. The quest for more advertising revenue, to an extent, undermined the struggle for complete editorial independence. / AFRIKAANSE OPSOMMING : Hierdie studie het die politieke rol van die koerant die Weekend Nation in die demokratisering van Malawi tussen 2002 en 2012 vanuit die konteks van sy fundamentele rol en eienaarskap deur die politieke elite ondersoek. Met as vertrekpunt dat die koerant gestig is deur ’n politikus wat lid was van die eerste demokraties-verkose regerende party, die United Democratic Front (UDF), het hierdie navorsing die impak van media-eienaarskap op die politieke rol van die joernalistieke praktyke van die koerant in Malawi se demokratisering ondersoek. Tussen 2002 en 2012 is Malawi deur drie president regeer – Bakili Muluzi van die UDF van 1994 tot 2004, Bingu wa Mutharika van die Democratic Progressive Party (DPP) van 2004 tot 2012, en Joyce Banda van die People’s Party (PP) van 2012 tot 2014 – al drie was vyandiggesind teenoor die Weekend Nation. In ag genome dat die Weekend Nation aan ’n politikus behoort, is die kritiese politieke ekonomie van die media-teorie die mees toepaslike teoretiese vertrekpunt vir hierdie studie. In medianavorsing dui dié teorie daarop dat die eienaar die inhoud van die media-instelling bepaal deur hetsy inmenging in die dag tot dag uitvoering van pligte, of deur algemene doelwitte en veronderstellings wat gestel word, en deur bestuurders en joernaliste aan te stel wat dit sal uitvoer binne die bepalings van die toegewysde hulpbronne. Die studie het kwalitatiewe navorsingsmetodologie toegepas, spesifiek indiepte- onderhoude en kwalitatiewe inhoudsanalsie. Die bevindings dui daarop dat die eienaarskap van die koerant geen direkte invloed op die joernaliste se politieke rol in die versterking van demokrasie en goeie bestuur in Malawi gehad het nie. Dit het vasgestel dat, ondanks die eienaarskap van die Weekend Nation aan ’n prominente en invloedryke politikus, die redaksionele onafhanklikheid nie gekompromitteer is nie. In teenstelling met algemene verwagtings het die studie bevind dat die Weekend Nation in Malawi krities ingestel was teenoor die politieke elite sonder om enige onderskeid te tref. Hoewel dit nie ’n fokus van die studie was nie, het dit ook aangedui dat markkragte, in ooreenstemming met die kritiese politieke ekonomie-teorie, tog ’n impak op die Weekend Nation se redaksionele onafhanklikheid gehad het. Die stewe na groter advertensie-inkomste het tot ’n mate die stryd vir algehele redaksionele onafhanklikheid ondermyn.

Since the demise of the Berlin Wall and communism, many African countries have adopted a Western-model democracy as a system of governance. However, the media has not been liberalised to reflect this new discourse as constraints in many African countries pertaining to press freedom still exist. The internet appears to have the potential to challenge the political power of governments (Tsagarousianou, 1998:167). It has been posited that it has the potential to offer more platforms for information especially in the case of restrictive media environments. This study set out to investigate the impact of on-line publishing in Malawi. It explored how the emergence of this new form of publishing through the internet has affected the public sphere, democracy and press freedom in Malawi. The main focus was the level of press freedom at on-line newspapers as compared to traditional newspapers. It used the public sphere theory and literature on the internet as a technology of freedom as its theoretical framework. Using a case study approach by focusing on two newspapers; Nyasatimes on-line and Daily Times, the study used the coup plot coverage in May 2008 in Malawi by both newspapers as reference for the measurement of the level of press freedom. The study used qualitative content analysis and semi-structured interviews as its research methods. The research revealed that Nyasatimes enjoys more freedom to publish and therefore appears to have more press freedom than its more traditional counterpart. However, Nyasatimes also faces some unique challenges. The findings also revealed that press freedom in Malawi is not only affected by government through legislation but other factors and players as well play a central role in determining the level of press freedom for traditional media. The study therefore concludes that despite the internet’s ability to transcend local regimes of authority and censorship pertaining to press freedom, the challenges facing traditional media still need to be addressed as it is the primary source of information for most people in Malawi with on-line newspapers being simply supplementary.