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

Social protection measures are poverty reduction interventions implemented to assist in reducing poverty shocks of communities. This study considered the Farm Input Subsidy Programme (FISP) that has been implemented in Malawi with the aim of reducing poverty amongst subsistence farmers by providing them with subsidized farm inputs. The study was conducted in the rural area of Lilongwe District, under Traditional Authority Kabudula. The study mainly focussed on the outcomes of implementing the FISP and it entails whether or not the poverty reduction intervention is really achieving its goals. Thus, the study greatly evaluates the effectiveness of subsidizing farm inputs in reducing poverty amongst households in rural communities characterised by subsistence farming. This study was mainly qualitative in nature and data was collected through interviews and Focus Group Discussions. Some quantitative data for specific trends of national indicators was collected through document. Mainly, content analysis was used to analyse the qualitative data and descriptive statistical analysis with the aid of Microsoft Excel was engaged to analyse the quantitative data. The study found that that FISP assist in household food security only in the short term. Among the reasons cited, the package size received by households has become smaller with sharing tendencies that have been devised to help households that do not receive the inputs or qualify to receive them. This practice is compromising the agricultural productivity in terms of quantities as it lasts only in the short-term before the next harvest. When households’ food reserves are depleted, households become food insecure and poverty sets in again. The study thus reveals that FISP implementation is not operating as a sustainable programme as its intended goal is not being achieved in the long-term. The study also found that coupled with the fact that there is no clear policy guidelines on graduation and that there is continued benefitting of the same beneficiaries, FISP is nowhere close to its phasing-out stage in social protection perspective.

The youth are generally in the peripheral of most development endeavors. This research dealt with factors influencing financial sustainability of youth enterprises funded under the Youth Enterprise Development Fund in Karonga, a district in the Northern Region of Malawi. The study was conducted through a descriptive and analytical survey. Data was collected using questionnaires, interviews and Focus Group Discussions. Questionnaires were analyzed and presented using graphs and in form of percentages. Findings from the questionnaires, interviews and FGDs were analyzed for content and presented in narrative form according to the thematic areas in relation to the variables. This research has revealed that repayment rates of YEDF beneficiary enterprises in the district are at 31 percent and that those that have finished paying back the loans stand at 15 percent. The research shows that political influence and inadequate capacity building skills in business management are some of the major reasons for the low repayment of the YEDF loans. The leaders and members in most groups had no prior experience and capacity for running a business. The challenges have negatively affected the revolving nature of the fund. The study recommends that YEDF should be independent of political influence, group members be given more training to enable them understand key business and financial management skills and, strengthening monitoring and evaluation of these groups by the YEDF officers.

A thesis submitted in fulfilment of the requirements for the degree of Doctor of Philosophy in Media Studies University of the Witwatersrand Johannesburg September 2015 / The year 2000 witnessed a significant convergence of global policy positions. These positions range from the neoliberal regime which gained traction in the mid-1990s, participatory development models of the 1980s, and the technocratic approach to development of the late 1990s. Despite their ideological differences, these policy positions found co-existence in the (MDGs) and have framed how poverty is globally understood and how it should be addressed, including the use of communication especially the media to promote or fast track poverty reduction projects. This thesis is a critical analysis of the extent to which the United Nations (UN) Communication for Development strategy of 2007 has been used in Kamaila Village in Zambia and Mwandama Village in Malawi to implement MDG-related projects. The two villages were chosen because they have been exposed to different models of poverty reduction activities. The Mwandama Village project is part of the Millennium Village Project where a holistic approach is applied to address poverty, while the Kamaila Village is a beneficiary of a water project which is considered to be important to kick-start village-driven poverty reduction activities. Even though the two villages have been used as units of analysis, the main goal of this study was to examine the two policy documents as texts – the MDG and the UN Communication for strategy – how the discourse and narratives that inform them and their relationship with power, shape social practices and behaviour at national and village level. The study also sought to establish how language operates within the context of power relations by applying theories of global governance, knowledge and power, hegemony, participatory and media communication. The methodology used to gather data consists of a critical discourse analysis on the policy documents and qualitative interviews with different respondents from the villagers, the UN system, NGOs, media and governments. Through a combination of these theoretical frameworks and methodologies, this study has shown that the narratives and discourses that inform the MDGs are influenced by western actors who use the power of money to pursue their neoliberal interests under the guise of reducing poverty. The link between political power, the poverty reduction ideas and interests of elite actors saturates and remotely controls available policy spaces for participation with external knowledge and rules, starting from the UN system down to the villages thereby enabling neoliberal ideas to control the flow of knowledge and the construction of discourses. Despite attempts to harness local modes of social communication to transmit the neoliberal notions of poverty in the villages, individual villagers have discursively devised ways of maintaining their own ‘traditional’ ways of life. This highlights that poverty reduction discussions must not be too obsessed with controlling or changing people’s minds and behaviour but seek to understand the grassroots’ lifestyles as a baseline for informed intervention. Ignoring this baseline knowledge is one of the many reasons development has failed dismally since the 1950s because it is driven by capital interests from the top to bottom with less or no intentions to address poverty. In addition, the ability of media messages to influence practices and behaviour remains a contested arena. But as this study established, the strength of messages to alter social practices has its limitations because behaviour is a manifestation of several factors such as environment, context, biology, genealogy and culture, some of which are not linked to communication. However, communication within the context of the villagers is part of their way of exchanging or transmitting ideas and knowledge in producing and reproducing their culture and not to eliminate it. This thesis makes scholarly contribution through the use of a critical approach to international policy formulation, and participation within a globalised world. While several studies have analysed the link between communication and poverty reduction privileging the neoliberal construction of these themes, this study has demonstrated that the grassroots are not unthinking; they have a well-being, cultural context and communication ecology which needs to be understood first and respected. These findings expose the tensions between the neoliberal interests-driven elite view of poverty and the local way of viewing well-being.

Standard economic models often emphasize inputs, outputs and an examination of the structures in order to conduct an economic performance evaluation. This study applies the Institutional and Development Framework (IAD) in the broader context of New Institutional Economics (NIE) in order to examine the transaction costs of delivering Community and Home Based Care and Support (CHBC) to HIV/AIDS sufferers. For purposes of unveiling the empirical reality guiding decision making processes in the CHBC service delivery, comparative qualitative research techniques of normative variable and concept formation have been adopted to draw out the relative institutional influences from the HIV/AIDS national response partnerships. The study identifies the conflict between the predominantly standardized and more rigid formal management techniques adopted by key members of the national response and the informal cultural techniques familiar to the rural communities, and a lack of motivational incentives in the CHBC structures as the key factors against CHBC capacities to draw external funding for service delivery. CHBCs are also weakened by incoherent governance structures at the district level for facilitation of funding and information flow exacerbating the community vulnerability. Rationalization of the institutional arrangements and a clarification of roles from district to community levels, a shift of focus to facilitation of informal techniques and an integration of performance enhancing incentives are the critical policy insights envisaged to spur CHBCs to work better.

Community-based organizations are considered as one of the major institutions involved in community development apart from the state and non-governmental organizations. The idea of local participation is the one that has resulted into their emergence as participation is considered to be an essential part of human growth. With the advent of democracy in 1994, and the coming in of the HIV and AIDS pandemic in Malawi, there has been a mushrooming of community-based organizations in the country. Now that its over fourteen years since their emergence in Malawi, its high time a study was conducted to establish contributions the community-based organizations are making in the development if the country, identify the challenges they are facing and find possible solutions that can help improve their effectiveness. This thesis presents findings of such a study done in Kasungu district in Malawi. / Development Studies / M.A. (Development Studies)

The study assesses effectiveness of CDGs on poverty reduction among individual members. This is based on the concept of sustainable development with context, structures and strategies as factors affecting poverty reduction. Quantitative and qualitative research designs were used. These involved 120 participants, 5 FGDs and 5KIIs. Participants were purposively and randomly sampled. Results reveal CDGs as a potential strategy in effective community development benefiting group members for poverty reduction. Such benefits include; social, economic, physical, human or environmental. However, group composition and processes pose challenges for benefits to trickle down to some members. Structural arrangement requiring leaders and other influential people like educated members to be in the forefront of interventions has proved challenging to the approach. This happens when self interests are at play leading to deprivations of some members to access benefits. Monitoring membership diversity focusing on group composition and operations is recommended for groups to effectively reduce poverty. / Development Studies / M.A. (Development Studies)

Community-based organizations are considered as one of the major institutions involved in community development apart from the state and non-governmental organizations. The idea of local participation is the one that has resulted into their emergence as participation is considered to be an essential part of human growth. With the advent of democracy in 1994, and the coming in of the HIV and AIDS pandemic in Malawi, there has been a mushrooming of community-based organizations in the country. Now that its over fourteen years since their emergence in Malawi, its high time a study was conducted to establish contributions the community-based organizations are making in the development if the country, identify the challenges they are facing and find possible solutions that can help improve their effectiveness. This thesis presents findings of such a study done in Kasungu district in Malawi. / Development Studies / M.A. (Development Studies)

The study assesses effectiveness of CDGs on poverty reduction among individual members. This is based on the concept of sustainable development with context, structures and strategies as factors affecting poverty reduction. Quantitative and qualitative research designs were used. These involved 120 participants, 5 FGDs and 5KIIs. Participants were purposively and randomly sampled. Results reveal CDGs as a potential strategy in effective community development benefiting group members for poverty reduction. Such benefits include; social, economic, physical, human or environmental. However, group composition and processes pose challenges for benefits to trickle down to some members. Structural arrangement requiring leaders and other influential people like educated members to be in the forefront of interventions has proved challenging to the approach. This happens when self interests are at play leading to deprivations of some members to access benefits. Monitoring membership diversity focusing on group composition and operations is recommended for groups to effectively reduce poverty. / Development Studies / M.A. (Development Studies)