Thesis (MBA (Graduate School of Business))--University of Stellenbosch, 2010. / ENGLISH ABSTRACT: This present study investigates the directional link between stock market development and economic growth in Zambia for the period 2002-2009, using quarterly data. While there is numerous empirical research conducted on this topic, none of it constitutes an in-depth study of the causal relationship of stock market development and economic growth in Zambia. The investigation of the causal relationship is conducted by using two methods: the recent and better Toda and Yamamoto Causality Test, and the older and popular Granger causality test. As highlighted by recent studies, the results of the Toda and Yamamoto Causality Test approach are more reliable than those of the Granger Causality Test approach, and are therefore preferred for this study. The Granger Causality Test is employed in the study for comparison purposes with the new Toda and Yamamoto approach, as well as comparison with the only study done on Zambia on the topic. Results of the Toda and Yamamoto approach support the demand following hypothesis that economic growth causes stock market development. The Granger Causality Test results lend support to the Independent view that stock market development and economic growth are independent of each other. The Granger Causality Test results support the prior study done on Zambia using the same technique but based on panel data instead of time series data as is the case for the present study. However, as the Granger Causality Test approach inherently has a number of problems, its results are unreliable. Based on the result of the Toda Yamamoto approach, the study argues that the Zambian stock exchange could help promote further economic growth in the country and should therefore be integrated in the whole economic system. / AFRIKAANSE OPSOMMING: Hierdie studie ondersoek die ooreenkoms tussen aandeelmarkontwikkeling en ekonomiese groei in Zambia vir die periode 2002-2009 met die gebruik van kwartaallikse data. Die ondersoek om die verhouding te bepaal word deur twee metodes gedoen naamlik die onlangse en beter “Toda and Yamamoto” toets en die ouer en populêre “Granger” toets. Soos onlangs uitgewys is die uitslae van die “Toda and Yamamoto” toets meer akkuraat as die “Granger” toets en word derhalwe verkies vir hierdie studie. Die Granger toets word gebruik vir vergelykings met die “Toda and Yamamoto” benadering asook vergelyking met die enigste studie wat in Zambië gedoen is op hierdie vakgebied. Resultate van die Toda benadering ondersteun die stelling dat ekonomiese groei veroorsaak aandelemarkontwikkeling terwyl die Granger toets die siening dat markontwikkeling en ekonomiese groei onafhanklik van mekaar is ondersteun. Die Granger toets ondersteun die vorige studie op Zambië wat dieselfde metodiek gebruik het maar wat gebaseer is op “panel data” in plaas van tyd series data soos in die huidige studie. Die Granger studie het 'n aantal inherente probleme en die resultate is daarom onbetroubaar. Gebaseer op die Toda benadering word in die studie geargumenteer dat die Zambiese beurs verdere ekonomiese groei kan bevorder en behoort derhalwe geïntegreerd te word in die hele ekonomiese stelsel.

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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.

Orientador: Carlos Salas Paez / Dissertação (mestrado) - Universidade Estadual de Campinas, Instituto de Economia / Made available in DSpace on 2018-08-24T15:11:05Z (GMT). No. of bitstreams: 1 Kasonde_Clement_M.pdf: 2543320 bytes, checksum: c5a650cf010e5208fc95d2c67b9ae94a (MD5) Previous issue date: 2014 / Resumo: De acordo com (CSO-LFS 2012), o governo da República da Zâmbia formula políticas empregatícias para melhorar as relações e condições de trabalho. Essas políticas também têm como objetivo reduzir a pobreza através da criação de empregos decentes para os cidadãos (CSO-LFS 2012). Para que as políticas sejam relevantes, o governo realiza avaliações econômicas através de diversos meios, como a condução de pesquisas sobre a força de trabalho (LFS), monitoramento das condições de vida (LCMS), monitoramento da performance econômica e outras iniciativas socioeconômicas relacionadas. Além disso, o governo também promove a educação para seus cidadãos uma vez que está consciente de que uma força de trabalho instruída e essencial para o desenvolvimento econômico (CSO-LFS, 2012). O fomento ao investimento local e estrangeiro em vários setores é também uma importante política que qualquer governo deveria implementar tendo em vista a criação de empregos decentes e redução da pobreza. Como argumenta Amartya Sem, o crescimento econômico se dá através do desenvolvimento das capacidades. De acordo com (Layard 2004; Offer 2006; Wilkinson and Picket 2010), o crescimento do PIB tem se mostrado uma referência inadequada do progresso social a parece exercer pouco ou nenhum impacto no bem-estar social. Essa visão é amparada pela noção de "desenvolvimento como liberdade" de Sem, que implica que as pessoas só desfrutam de liberdade genuína quando ela é baseada na segurança econômica e social. De acordo com o painel de especialistas na Comissão de Mensuração do Desempenho Econômico e Progresso social nomeado por Nicolas Sarkozy, ex-presidente da França, os termos de referência não aceitam que os cidadãos se adaptem às exigências da economia, mas sim que a economia seja remodelada para servir aos interesses dos cidadãos. De acordo com `Failure of a Model¿ de Ron Blackwell e David Coates, um estado democrático deve permanecer como um agente econômico indispensável, fornecendo serviços públicos de qualidade, desempenhando o papel de regulador, preparando o palco para os agentes econômicos e intervindo (através de políticas fiscais ou monetárias) de modo a acalmar os impulsos especulativos ou controlar uma recessão (ILO - IJLR, 2012). Também existe, como Tim Page coloca em seu trabalho, um forte argumento a favor da implementação e desenvolvimento por parte do governo de políticas industriais ativas, através da criação de marcos regulatórios claros, que forneçam capital que não venha diretamente do mercado aberto para o investimento. Por exemplo, US$ 750 milhões foram captados no mercado de capitais em 2012 para a realização de programas governamentais que visavam melhorias nas estradas públicas e na infraestrutura ferroviária, com o objetivo de alavancar o desenvolvimento social e econômico na Zâmbia / Abstract: According to (CSO-LFS 2012), the Government of the Republic of Zambia formulates employment and labour policies to improve workers¿ and employers¿ labour relations and employment conditions. These policies are also aimed at reducing poverty by the creation of decent jobs for the citizens (CSO-LFS 2012). In order to make relevant policies, the Government carries out assessments on the economy through various means such as conducting the Labour Force Surveys (LFS), Living Conditions Monitoring Surveys (LCMS), economic performance monitoring programs and other related socioeconomic initiatives. In addition, the Government also promotes education for its citizens as it realizes that an educated labour force is essential for economic development (CSO-LFS, 2012). The promotion of both local and foreign investment in various sectors is also an important policy any government should implement with a view to creating decent jobs and reduce poverty. As Amartya Sen has opined, economic growth has to be for the purpose and the most straightforward way of characterizing that goal is to say that citizens must be able to acquire the capabilities and that they need to choose lives that they have reasons to value (Sen, 1999). According to (Layard 2004; Offer 2006; Wilkinson and Picket 2010), measured increase in DGP has been seen to be inadequate benchmark of social progress and appears to have little or no impact on either happiness or life satisfaction. This view is supported by Sen¿s notion of `development as freedom¿, which entails that people can enjoy genuine liberty only insofar as it is based on economic and social security. According to the panel of experts on the Commission for Measurement of Economic Performance and Social Progress appointed by Nicolas Sarkozy, the former president of France, the terms of references for the committee of experts was that the objective is not to accept the world as it is and adapt citizens to the demands of the economy, but to reshape the economy to ensure that it serves the interest of the citizens. According to the `Failure of a Model¿ by Ron Blackwell and David Coates, as part of policy activism, a democratic state must remain as an indispensable actor in the economy, playing a role of providing quality public services and as a regulator, setting the stage for market actors and intervening (either through fiscal or monetary policy) in order to cool a speculative boom or halt a recession (ILO - IJLR, 2012). There is also, as Tim Page makes in his paper, a strong case for government to develop active industrial policies by setting clear regulatory frameworks, providing capital for investments that will not be funded on the open market. For instance, the 2012 Zambia¿s US$ 750 million Euro Bond" which was sourced from `Wall Street¿ capital market for public works programmes (PWP), is meant to improve inter alia; public roads and railway infrastructure in order to help stimulate economic and social development in Zambia / Mestrado / Economia Social e do Trabalho / Mestre em Desenvolvimento Econômico

Since independence in 1964, Zambia in general and the Copperbelt Province in particular have largely depended on the mono-economy based on copper mining. Around the 1970s the copper prices started falling causing the mining industry to collapse leading to economic stagnation. Efforts to revive the economy, such as the Structural Adjustment Programme implemented since the late 1980s have not brought about well-being for the people of the Copperbelt. As a result the government of the Republic of Zambia decided to launch an economic diversification programme for the Copperbelt province whose main aim is to seek and implement alternative economic activities that would accelerate economic growth thereby improving people's living conditions on the Copperbelt. This thesis proposes that in order to overcome poverty and improve people's living conditions, we need to shift our policy and practice from free market economic growth centred approaches, to shalom. The shift is based on the argument that development seen through the lenses of free market economic growth alone has not sustained life; instead it has contributed to environmental degradation and poverty creation in Zambia and the Copperbelt Province in particular. The thesis argues that shalom is an authentic development paradigm. This argument is based on three fundamental integral parts of shalom namely creation, people and justice. In order to bring about comprehensive well-being for people there is a need to a) appreciate creation as a phenomenon with its own integrity. It should not be destroyed for selfish economic ends; b) give pre-eminence to people as free agents who could participate in creating their own destiny based on their capacities and social conditionalities; and c) ensure social justice as a necessary condition for human relations and economic dispensation. / Thesis (M.Th.)-University of KwaZulu-Natal, Pietermaritzburg, 2004.

This dissertation explores the plight of vulnerable poor households in Sinazongwe district of Zambia. It determines nature of their vulnerability and identifies commonly used coping strategies. It also identifies different types of livelihood strategies and assets available and accessed by vulnerable poor households to create sustainable livelihoods. Study design used qualitative and participatory paradigms, involving variety of data collection techniques and tools such as key informant interviews and focus group discussions. The study identified several factors impacting on vulnerable poor households, their response strategies and perceived potential sustainable livelihoods. Drought and flash floods destroyed livelihoods of poor households from which they often failed to recover. Vulnerable poor households possessed fewer assets and less diversified sources of income and often lacked back up resources in times of hardship. Livestock rearing, fishing and irrigation-supported gardening were identified as possible sustainable livelihoods for vulnerable poor households in Sinazongwe, to recover and become resilient. / Sociology / M.A. (Development Studies)

This dissertation explores the plight of vulnerable poor households in Sinazongwe district of Zambia. It determines nature of their vulnerability and identifies commonly used coping strategies. It also identifies different types of livelihood strategies and assets available and accessed by vulnerable poor households to create sustainable livelihoods. Study design used qualitative and participatory paradigms, involving variety of data collection techniques and tools such as key informant interviews and focus group discussions. The study identified several factors impacting on vulnerable poor households, their response strategies and perceived potential sustainable livelihoods. Drought and flash floods destroyed livelihoods of poor households from which they often failed to recover. Vulnerable poor households possessed fewer assets and less diversified sources of income and often lacked back up resources in times of hardship. Livestock rearing, fishing and irrigation-supported gardening were identified as possible sustainable livelihoods for vulnerable poor households in Sinazongwe, to recover and become resilient. / Sociology / M.A. (Development Studies)

This study examines the public debt, public debt service and economic growth nexus in Zambia, Zimbabwe and South Africa using time-series data from 1970 to 2017. This research provides empirical evidence to contribute, firstly, to the ongoing public policy debate regarding the dynamic relationship between public debt, public debt service and economic growth, and their causal relationship; and secondly, to the relative impact of domestic and foreign public debt on economic growth in the selected study countries. For this purpose, four empirical models were utilised and estimated using the Autoregressive Distributed Lag (ARDL) bounds to cointegration and the error correction ARDL-based causality test. Model 1 explored the impact of aggregate public debt on economic growth, while Model 2 investigated the relative impact of domestic and foreign public debt on economic growth. Model 3 examined the impact of public debt service on economic growth, whereas the causality between aggregate public debt and economic growth, and between public debt service and economic growth is tested in Model 4a and Model 4b, respectively. Results show that in Model 1, aggregate public debt has a positive impact on economic growth in Zambia but is negative in Zimbabwe and South Africa. In Model 2, domestic public debt negatively impacts economic growth in Zambia and Zimbabwe and positive impact in South Africa. In addition, foreign public debt has a positive impact on economic growth in Zambia and negative impact in Zimbabwe and South Africa. The results from Model 3 largely support a negative relationship between public debt service and economic growth in Zambia and Zimbabwe, and an insignificant relationship in South Africa. The causality results for Model 4a indicate that it is economic growth that drives public debt in all the study countries. Finally, no causal relationship between public debt service and economic growth was confirmed in all the study countries (Model 4b). / Economics / D. Phil. (Economics)