Empirical evidence and theoretical propositions suggest that financial development is strongly correlated to private investment because financial development positively affects investments by affecting capital accumulation, altering savings rate or by channelizing savings to various capital producing technologies. This study empirically investigated the impact of financial development on private investment in South Africa using quarterly data for the period 1994/01 to 2011/04. This study assess whether the theoretical and empirical propositions can be supported in South Africa. Cointegration tests using the Johansen approach (1988) were conducted to examine if there is a stable relationship in the level of private investment and financial development in South Africa. As a proxy for financial sector development, credit to private sector as per cent of GDP and stock market development were employed. Other variables that affect investment such as real interest rates and real GDP were also included in the model. Results of the study indicate that stock market development and real GDP have a positive relationship with private investment. Bank credit to the private sector however showed a negative relationship with private investment. A negative relationship was also noted for the relationship between private investment and real interest rates.

Foreign direct investment amongst other mechanisms provides capital inflow meant to stimulate economic growth. Apart from promoting economic growth, FDI can also lead to increase in employment, technology, technical knowhow and managerial skills. South Africa has implemented various policy initiatives in attempts to attract foreign investment. This study investigates on the effect of foreign direct investment on economic growth, with particular reference to the South African economy. The period of study is from 1980 to 2010. The study begins by reviewing literature on economic growth and foreign direct investment. South Africa’s macroeconomic background is examined to determine the trends in FDI inflows and economic growth. An empirical model linking theoretical and empirical literature on the effect of FDI on economic growth is estimated using the Johansen cointegration and VECM framework. Variables specified in the methodology include real gross domestic product (RGDP), foreign direct investment (FDI), domestic investment (INVE), real exchange rate (REXCH) and foreign marketable debt (DEBT). The long run results showed that FDI, REXCH and DEBT have a negative impact on growth. INVE has a positive impact on growth. Short run results indicated that there is no strong pressure on RGDP to restore long-run equilibrium whenever there is a disturbance. The short run lag of FDI was found to exert a positive impact on growth. The impulse response and variance decomposition analysis complemented the long and short-run findings. Shocks on REXCH, and DEBT generated a negative response on RGDP. The shocks were not significantly different from zero and were transitory. Results from the variance decomposition analysis revealed that the fundamentals explain some, but not all, of the variations of RGDP. For the fifth year forecast error variance RGDP explains the largest component of the variation followed by INVE, REXCH, FDI and DEBT. After a period of ten years, the influence of RGDP and INVE declines, whereas REXCH, FDI and DEBT increase. Conclusions and policy recommendations were made using these results.

Thesis( M.Com. (Economics)) -- University of Limpopo, 2019 / The concepts of economic growth and unemployment are at the beginning of the most important variables in the sense that all economies are choosing and implementing economic policies. The study examined the relationship between economic growth and unemployment in South Africa during 2005 to 2016 using the quarterly time series data. Cointegration test, Vector Error Correction Model (VECM) and granger causality test were employed in the analysis. The variables utilized in the investigation include the gross domestic product (LGDP), unemployment rate (UN), labour productivity (LP) and government budget deficit (GD). Stationarity test was conducted and the results indicated that all the variables were found stationary at first difference. Johansen Cointegration test confirmed that the long run relationship exist among variables under the study. More so, the VECM results showed that unemployment (UN) has a negative and insignificant impact on the gross domestic product (LGDP). Finally, the study also tested the granger causality between the variables to determine the short run relationship. Based on the findings above, the study therefore recommends that the government needs to cut taxes for businesses and individuals to increase investment spending to stimulate economic growth. Moreover, government should as a matter of urgency create more employment opportunities to absorb the teeming population of the unemployed labour force in the country through modernization of the agricultural sector, bring in modern equipment in the facilities of agriculture to make the sector more attractive to all citizens despite one’s qualifications and professions, as that alone would go a long way in reducing unemployment level in the country.

Thesis (M. Dev. (Planning and Management)) -- University of Limpopo, 2021 / Local Economic Development (LED) has been practised in different countries to deal with poverty and unemployment at the local level. The success that the LED brought upon towards addressing these economic problems, led to the South African government to also undertake the LED initiatives to address poverty and unemployment that exist at the municipal level. Therefore, municipalities which are strategically closest to communities are responsible for poverty alleviation and employment creation in their local areas. The study sought to investigate the effectiveness of LED on poverty alleviation in rural areas of South Africa. The research objectives were as follows: to explore the concept of Local Economic Development, determine the types of poverty alleviation models and to assess the effectiveness of Local Economic Development to alleviate poverty in rural areas of South Africa. The study applied a semi-structured questionnaire and further considered literature review to achieve the research objectives focusing on Makhuduthamaga Local Municipality. A simple random sampling method was employed to select appropriately 100 participants in the study. Statistical Package for Social Sciences (SPSS) was used to process data, whilst, the content analysis method was also used for descriptive statistics. The study discovered that lack of resources including staff, skills and budget affect the undertakings of the LED activities in the communities negatively. Moreover, it was revealed that there is a need for community participation particularly towards successful implementation of the LED.

Thesis (Ph.D. Commerce (Economics)) -- University of Limpopo, 2021 / This study focused on examining the contributions of inclusive growth and innovation towards economic development in South Africa. Empirically literature showed that there must be equitable opportunities for all economic participants regardless of economic class, gender, sex, disability, and religion. Thus, inclusive growth has been seen to be a weapon to curb poverty and inequality on a long-term perspective and the focus is on productive employment rather than merely direct income redistribution as a means of increasing income for excluded groups. This expands from traditional economic growth models such as the equity of health, human capital, environmental quality, social protection and food security in the country. Thus, inclusive growth goes hand in hand with innovation and economic development at large. This study employed the Autoregressive Distributed Lags (ARDL) approach on the annual time series data ranging from 1990 to 2018 obtained from the South African Reserve Bank and the World Bank. The results revealed that general government expenditure on education, gross fixed capital formation, and information and communication technology have a positive relationship with economic development in the long-run. On the contrary, trade openness and research and development have a negative impact on economic development in the long-run. In the short-run, government expenditure on education, gross fixed capital formation, and information and communication technology has a negative impact on economic development. In that case, trade openness and investment in research and development have a positive impact on economic development. The error correction term was found to be negative and significant which is an indication that the system will revert to equilibrium even though economic development will have a slow rate of speed of adjustment of about 0.04%. Lastly, the existence of unidirectional causality among the series was noticed. Therefore, this study advocate for bridging the gap between income inequality, improving education policies, managing social mobility in the long-run to balance inclusive growth / South African Zakat Fund (SANZAF)

Submitted in accordance with the requirements for the degree Doctor of Philosophy in the subject Isizulu Namagugu at the University of Zululand, 2002. / This study comes from the direction of investigating and arriving at an option that can be looked as an alternative for the economic development of the area of e’Ndondakusuka. Different researches have been conducted in the area since the introduction of RDP policy. The then Mandeni, was seen as having social and economic depression, and investigations were conducted in order to look at the v part of it. The area's council started to initiate discussions that resulted to workshops, workshops that led to implementation strategies being recommended for the area. Cultural and Historical tourism was seen as one of the ways to explore in order to provide solutions to the declining social and economic facets of the area. This study, therefore has established its route and baseline measure along the lines of the above but highlighting the Anglo-Zulu War as means to an end. The route starts by outlining e'Ndondakusuka sub-cluster of historical sites the Kraal / umuzi, the Cultural centre and a Conference centre as core facilities on the same site and ends at Ulundi. The reason for it to end there is that the significance of these wars was based on the British soldiers following Cetshwayo to Ulundi. The road R66, which starts from R102 around Gingindlovu, passing through Eshowe, Melmoth and joined by Ulundi road, is the baseline of the Anglo-Zulu War route. Options in terms of how the route could be made to attract crafters in order for them to find markets, have been emphasized. Options in terms of how inland tourism could be made to interchange with the coastal tourism, have been made mention of. Because the route is mainly grounded around and on Anglo-Zulu War significance, it is therefore seen as of both national and international attraction

A Thesis submitted to the Wits School of Governance in fulfilment of the requirements for the Degree of Doctor of Philosophy University of the Witwatersrand Johannesburg 2015 / The Development Finance Institutions (DFIs) in South Africa have a mandate to provide finance to private and public sector organizations for investments that facilitate development. The main aim of DFIs is to invest in areas where the market fails to invest adequately and where there are institutional failures. DFIs specialise in offering long-term advances and loans and where defaults are experienced by investors, they are able to re-structure the loans to facilitate easier repayments. However, there are allegations of maladministration and poor management within DFIs as well as a high failure rate of funded enterprises. This study set out to explore the effectiveness of the DFIs by reviewing their contribution to economic growth in KwaZulu-Natal (KZN). This study evaluated the role and effectiveness of four DFIs in the province, namely Ithala; Industrial Development Corporation (IDC); National Empowerment Fund (NEF); and Trade and Investment KwaZulu-Natal.The study attempts to answer the following questions: 1) Have the DFIs made a positive contribution to the economy in KZN based on their performance indicators? 2) How do the DFIs take funding decisions? 3) What is the success rate of the DFIs in creating sustainable businesses? 4) What support and monitoring mechanisms are in place in these DFIs to ensure that funded enterprises succeed? 5) What general performance issues face DFIs? The qualitative research approach was used in this study as the investigation was exploratory in nature. Data was collected using three different instruments: document analysis, structured questionnaires, and face-to-face interviews. The document analysis enabled the design and customization of the questionnaires used to collect data from different DFIs. Organisational effectiveness models and performance management theories were used as a reference to assess the effectiveness (performance) of the DFIs in KZN. The study found that the level of performance of the DFIs varied, as did their capacity and resources. All the DFIs made a positive contribution to the economy of the province, taking into consideration that some of the thriving small, medium and micro enterprises (SMMEs) could not have started without the funding A review of the effectiveness of Development Finance Institutions in KwaZulu-Natal from these DFIs. There is however, massive room for improvement in DFI operations and level of contribution to the economy of the province. The study identified a number of weaknesses in the operations of the DFIs, such as their financial statements, which are characterised by high annual debt write-offs, high impairment rates, and low rates of loans and advance repayments. While there is evidence of job creation by each DFI, the rate thereof may not be commensurate with the costs involved. The study revealed that in some cases, funded enterprises are not supported to ensure that they succeed in creating sustainable businesses. A number of portfolios closed down prematurely leading to the need to write off loans. The yearly performance targets set by the DFIs are mostly not achieved; in some cases, these performance targets do not measure the actual performance towards the achievement of the DFI’s strategic objectives. There are too many DFIs in South Africa, some operational in all the provinces, a number of which were established during the apartheid era and may have been relevant at that time. At a macro level, there is a need to streamline DFIs in order to give relief to the fiscus. Increasing the efficiency of the DFIs would require a culture change with respect to information sharing and reporting to stakeholders. It is recommended that DFIs adhere to the funding criteria for each fund. This capacity to evaluate funding proposals needs to be reviewed continuously to avoid fruitless expenditure emanating from funding unsustainable business ventures. Effective monitoring of funded enterprises and implementation of an early warning system are recommended. Failure to repay loans and advances should have some consequences for enterprises in order to discourage perceptions of entitlement from most SMMEs, while at the same time DFIs should develop a tolerance level (a materiality framework) for non-performance of some of the loans and advances as a cost for creating/promoting entrepreneurship in South Africa. / MB2016

Thesis (Ph.D. (Development Planning and Management)) -- University of Limpopo, 2023 / Rural entrepreneurship is a relatively young sector in the entrepreneurship field, but it has emerged as one of the most important tools for rural economic growth in developing nations like South Africa. A majority of poor people live in the rural areas and face the challenges of extreme poverty levels, high unemployment rates, appalling socio-economic conditions, and inequalities. Therefore, rural entrepreneurship is regarded as a vital tool for accelerating Local Economic Development (LED) and improvement of the quality of life of the rural people and their communities. Rural entrepreneurship stimulates economic development by improving economic conditions, creating employment, reducing poverty and improving the overall standard of living of the rural populace. Theoretically, there is clear consensus that rural entrepreneurship has the potential to reduce poverty, unemployment, economic inequalities and low income as well as value creation and improving standards of life in rural areas through the creation of new enterprises. Entrepreneurial activities stimulate the local economy and create employment opportunities through the creation of new enterprises in the rural areas. Thus, entrepreneurship development is seen as one of the important components of LED and the development agenda in most developing countries. However, entrepreneurial success is dependent on various factors, internal or external, such as the need for achievement, locus of control and desire for personal control of business, human capital, infrastructure, training, communication network, financial support, business environment, economic climate, competitiveness, risk-taking propensity, confidence, and regulatory environment. These factors may determine or influence the success of enterprises, thereby hampering LED efforts in a particular locality. Literature further reiterates the importance of rural entrepreneurship development towards accelerating economic development of local communities in the developing countries. Entrepreneurship development is regarded as a driving force of local economic growth and development in the developing countries. Many developing countries are faced with numerous socio-economic challenges of extreme poverty levels, high unemployment rates, stagnant economic growth and poor living conditions. Entrepreneurship development has become an important policy agenda and priority for employment creation, poverty reduction and economic growth and development of communities in many developing countries. Thus, many developing countries have turned their focus on entrepreneurship development as an important mechanism and driver of economic development with expectations of addressing these challenges. Despite such efforts, entrepreneurship development in developing countries faces challenges such as financial, human, management, lack of access to markets, lack of capacity, lack of infrastructure and appropriate regulations. These challenges affect and undermine the potential of entrepreneurship to stimulate LED and address challenges affecting many developing countries. The role of local government in creating an enabling environment for entrepreneurial activities and LED to thrive is widely acknowledged in most developing countries. Local governments in developing countries have become important vehicles for the promotion and implementation of LED and the creation of enabling environment for entrepreneurial activities to take place. LED in these developing countries is driven mainly by globalisation and decentralisation as an important strategy to local development. Globalisation and decentralisation play an important role in reconfiguring of planning approaches to local and regional development in developing countries. The observations above are also prevalent in South Africa, where entrepreneurship development is one of the national development policy imperatives. However, South Africa has a low entrepreneurial rate compared to other developing countries because of various factors including those highlighted above. Lack of entrepreneurial spirit or culture is increasing highly in the country. Entrepreneurship development and LED practice in South Africa is shaped by overwhelming policies and legislations, which seek to support and encourage entrepreneurship and LED. These regulatory frameworks are aimed at creating conducive and enabling environment for LED and entrepreneurial activities to take place. Local governments have a constitutional obligation to promote social and economic development as well as improving the overall standard of living of local communities within the municipal area. In the process, municipalities must work collectively with local people and local stakeholders to develop their communities. LED has been adopted as one of the strategies to local growth and development of communities in South Africa. Despite LED efforts, the country continues to grapple with societal challenges of poverty, unemployment, inequality and stagnant growth of the economy. Currently, municipalities are plagued with various challenges and are in a dire state that threatens the ability to fulfil their constitutional and developmental mandate of promoting social and economic development. The aim of this study was to investigate rural entrepreneurship and its implications towards LED in the Mogalakwena Local Municipality, Limpopo Province. To achieve this aim, the study adopted descriptive, positivist case study design, and used the concurrent mixed methods approach to achieve the aim and objectives of the study. The study sampled 54 rural entrepreneurs around three Service Delivery Areas (SDAs) of Mokopane, Mapela and Bakenberg in Mogalakwena Local Municipality as well as key informants from Small Enterprise Development Agency, Local Economic Development Agency (LEDA) and Municipal LED Unit. A semi-structured questionnaire was used to solicit data from rural entrepreneurs whereas an interview schedule was used to solicit data from key informants. The study findings affirm that rural entrepreneurship plays a significant role towards LED through poverty alleviation, employment creation, economic opportunities, income generation, value or wealth creation, migration and overall improvement of the standard of living of local communities in Mogalakwena Local Municipality. Rural entrepreneurship is seen as one of the stimulators of economic activities in rural areas within the municipality. Despite the affirmation, the study found that rural entrepreneurs are faced with persistent challenges such as lack of access to finance and markets, lack of skills or capacity, stiff regulations and completion, crime, lack of infrastructure, lack of support by the municipality and poor participation or integration in LED. These challenges inhibit entrepreneurial activities to take place, thereby threatening the survival and success of rural enterprises. Therefore, the study recommends measures such as creation of an enabling regulatory environment, financial support models for entrepreneurs, skills development and training, recognition and integration of rural entrepreneurs in LED fora and promotion of entrepreneurship culture to maximize the potential of rural entrepreneurship in Mogalakwena Local Municipality. Additionally, future research is also important to tap into the niche area of rural entrepreneurship.

Thesis (M.Dev. (Planning and Management)) -- University of Limpopo, 2023 / Local economic development was instituted as a strategy by the new democratic government to boost employment, local economic growth and reduce poverty at local level. This research investigated the impact of LED towards livelihood strategies in the communities of Botlokwa , Molemole Local Municipality. A normative and correlation research design was used in this study. Utilizing surveys, interviews, observation and a literature study, data was gathered. Three key informants and 97 community members in total took part in the research. The results showed that the LED has been used by Molemole Local Municipality. For the municipality, local economic development is crucial for several reasons, including tackling the local economic growth backlog, reducing unemployment and poverty, fostering community involvement in setting needs and goals, and enhancing integration and coordination. However, the execution of the LED ran into some difficulties, including, among others: a bad resource scarcity, unfinished projects, a poor level of community involvement and political interference. Additional verdict demonstrates that local government has improved the quality of amenities provided to recipient households and community members, particularly the provision of electricity, but that additional amenities, such as the delivery of water, creation of jobs, better living conditions, sanitary conditions and refuse removal are still insufficient. However, the community members evolved various coping mechanisms because of high prevalence of poverty and unemployment cut-off. The majority of community members voiced their displeasure with the delivery of programs intended to improve their living conditions. Respondents emphasized that municipality organized ward council meetings, IDP forums and consultation sessions to include communities in service delivery. Communities are still unhappy with their level of participation, though. Notwithstanding that municipality's general successes in providing basic amenities, there is still a backlog in service delivery and LED initiatives because of corrupt practices, a lack of resources, a capacity issue and incorrect project targeting. The results also demonstrate that the municipality's local economic growth has been greatly boosted by the adoption of the LED. All of the municipality's development planning and programs begin with the LED and IDP; as a result, municipality is able to develop and execute in agreement with planned requirements of the population. The municipality has been helped to offer essential services including water, electricity and sanitation thanks to the services and infrastructure projects that have been implemented. Additionally, the municipality has built roads and other infrastructure for the community's benefit. However, outstanding of inadequate execution of the LED, which was brought on by capability issues, limited public involvement and resource shortages, the municipality has not entirely completed the delivery of essential amenities. The report suggests that the municipality prioritize enhancing the supply of LED programs aimed at the community members' modes of subsistence as a cure. Additionally, it is advised that the municipality focus on enhancing community involvement, making effective usage of MIG and strengthening its ability for the development and execution of the LED.

Thesis (MTh)--Stellenbosch University, 2012. / ENGLISH ABSTRACT: The dissertation sets out to explore the existing scholarly literature on the role of the church in economic development. The research report method will be in the form of a literature review and therefore will be exploratory in nature in the hope to inform the researcher of the views of scholars on the role of the church in economic development as well as possibly preparing the way for further research into investigating this role. Chapter 1 presents the research methodology that will be employed as well as the objectives that the research hopes to achieve, include: - To investigate what Biblical scholars understand about the role of the church with regard to economic development by reviewing the existing body of knowledge on the role of the church and economic development; - To discover what the most authoritative views and accepted definitions are on the concepts under study; - To make possible recommendations to the church based on the findings of current and previous literature. In Chapter 2 a literature study explores the views of scholars on the meaning of 'the church' in order to investigate or establish what is understood by the concept'the church'. This chapter will further explore what is meant by the mandate of the church, the missional and diaconal role of the church, the church as visible sign of God's saving work and the church and liberation role of the church. This study sets itself the task to investigate literature on the history and the context of the church as a constituent body in the world and then attempt to find a form of consensus on the role of the church. Chapter 3 will have a particular focus on exploring the views of scholars on the meaning of development and economic development. This literature review will take a multi disciplinary approach therefore this chapter will have a particular focus on the view of scholars in economic development studies. Chapter 4 examines the views of scholars on the role of the church in economic development. This chapter seeks to investigate if the church has a role to play in economic development as one of the role players in the fight against poverty, unemployment and the establishment of effective development programs. Finally, the overall summary, conclusion and recommendations are presented in Chapter 5. / AFRIKAANSE OPSOMMING: Die studie het ten doel om verkennend na literatuur te kyk wat handel oor die rol van die Kerk in Ekonomiese Ontwikkeling deur na te speur oor wat deur kenners geskryf is oor die rol van die Kerk in Ekonomiese Ontwikkeling. Die navorsingsmetode wat vir Hierdie studie gebruik sal word neem die vorm aan van `n literatuuroorsig en sal dus daarom verkennend van aard wees in die hoop dat dit die navorser sal inlig oor wat kenners skryf oor die rol van die Kerk in Ekonomiese Ontwikkeling sowel as om die weg te baan vir die moontlikheid om verder navorsing te doen oor die rol van die Kerk in Ekonomiese Ontwikkeling. Hoofstuk een spel aan ons uit die navorsingsmetode wat vir hierdie navorsingstudie gebruik sal word sowel as wat die beoogde doelwitte is wat die navorser hoop om te bereik na aanleiding van die kwessies soos: - Om na te vors wat Bybelkenners verstaan van die Kerk met betrekking tot ekonomiese ontwikkeling, deur na die beskikbare bronne te kyk wat handel oor die rol van die kerk in ekonomiese ontwikkeling; - Om vas te stel wat die mees gesaghebbendste sienings en aanvaarde definisies is oor die konsepte onder bespreking in die studie; - Om moontlike aanbevelings vir die kerk te maak gebasseer op die bevindinge voortspruitend uit die navorsing van die huidige en vorige literatuur. In Hoofstuk 2 word n literatuur studie gedoen wat verkennend kyk na standpunte van kundiges rondom die betekenis van 'kerk' ten einde te ondersoek en of vas te stel wat word verstaan deur die kosep kerk, die mandaat van die kerk, die missionale en diakonale taak van die kerk, die kerk as sigbare teken van God se reddened werk en die kerk en bevryding ten einde in staat te wees om `n moontlike verstaan daar te stel oor die rol van die kerk. Hierdie literatuuroorsigstudie volg `n multi disiplinêre benadering ten einde die navorser in te lig oor ekonomiese ontwikkeling. Hoofstuk 3 het `n spesifieke fokus om verkennend te kyk na wat kundiges verstaan ontwikkeling en ekonomiese ontwikkeling te wees. Hoofstuk 4 ondersoek die standpunte en sienings van kenners oor die rol van die kerk in ekonomise ontwikkeling. Hierdie hoofstuk wys onder meer uit dat die kerk tog op `n manier betrokke is in ekonomiese ontwikkeling as rolspeler in die stryd teen armoede, werkloosheid en die daarstel van effektiewe ontwikkelingsprogramme. Die algehele opsomming, slot en aanbevelings word in Hoostuk 5 bespreek.