The study investigated the impact of remittances on financial development in Africa using the dynamic generalised methods of moments (GMM) and other panel data analysis methods with data from 2003 to 2015. Using the same econometric estimation methods, the study also explored the influence of the complementarity between remittances and economic growth on financial development in Africa. Literature on the relationship between remittances and financial development is mixed, inconclusive and indecisive. The desire to contribute towards literature on the influence of remittances on financial development in the African context prompted this study. In Africa, personal remittances had an insignificant positive impact on financial development across all the econometric estimation approaches in all the four models, in line with some empirical studies on the subject matter. African countries are urged therefore to avoid wasting their time developing and implementing remittances, foreign aid and human capital development enhancement policies as a way of spearheading financial development. Using both broad money (as % of GDP) and domestic private credit ratio as measures of financial development, the interaction between remittances and economic growth was found to have a non-significant negative effect on financial development in Africa. The policy implication is that Africa needs to avoid over relying on economic growth as a channel through which financial development can happen / Die studie het die impak van betalings op finansiële ontwikkeling in Afrika ondersoek – deur middel van die dinamiese veralgemeende momentemetode (GMM) en ander metodes van paneeldata-ontleding, met data van 2003 tot 2015. Dieselfde ekonometriese beramingsmetodes is ook ingespan om die invloed van die komplementariteite tussen betalings en ekonomiese groei op finansiële ontwikkeling in Afrika te ondersoek. Die literatuur oor die verwantskap tussen betalings en finansiële ontwikkeling is gemeng, onoortuigend en vaag. Die begeerte om tot die literatuur oor die invloed van betalings op finansiële ontwikkeling in die Afrika-konteks by te dra, het tot hierdie studie aanleiding gegee. In Afrika het persoonlike betalings ʼn onbeduidende positiewe impak op finansiële ontwikkeling in al die benaderings tot ekonometriese beraming in al vier modelle gehad, wat strook met sommige empiriese studies oor die onderwerp. Afrika-lande word dus gemaan om nie hul tyd te mors met die ontwikkeling en implementering van betalings en buitelandse hulp en beleide om mensekapitaalontwikkeling te verbeter as ʼn manier om finansiële ontwikkeling te lei nie. Daar is bevind dat sowel breë geldvoorraad (as ʼn persentasie van BBP) en die binnelandse private kredietverhouding as maatstawwe van finansiële ontwikkeling, die wisselwerking tussen betalings, en ekonomiese groei ʼn nie-beduidende negatiewe uitwerking op finansiële ontwikkeling in Afrika het. Die beleidsimplikasie is dat Afrika moet waak teen oorafhanklikheid van ekonomiese groei as ʼn kanaal waardeur finansiële ontwikkeling kan plaasvind. / Ucwaningo beluphenya umthelela wezimali ezibhadalwayo mayelana nokuthuthukiswa komkhakha wezezimali e-Afrika ngokusebenzisa izindlela ezifanayo zezikhathi (GMM) kanye nezinye izindlela zokuhlaziywa idatha yephaneli ngokusebenzisa idatha yonyaka ka 2003 ukufikela ku 2015. Ngokusebenzisa izindlela ezifanayo zohlelo lokulinganisa isimo somnotho (econometric estimation), ucwaningo futhi luye lwahlola umthelela wousebenzisana okuphakathi kwezimali ezibhadalwayo kanye nokuhluma komnotho mayelana nokuthuthukiswa ngezimali e-Afrika. Umbhalo wobuciko mayelana nobudlelwano phakathi kwezimali ezibhadalwayo kanye nokuthuthukiswa kwezinhlaka zezimali uxutshwe ndawonye, awunaso isiphetho futhi awukwazi ukuthatha izinqumo. Isidingo sokufaka igalelo embhalweni wobuciko mayelana nomthelela wezimali ezibhadalwayo kwihlelo lokuthuthukiswa kwezimali ngaphansi kwesizinda sase-Afrika, ykho okuphembelele ukuthi kube nalolu cwaningo. E-Afrika, izimali ezibhadalwa abantu ziye zaba nomthelela omuhle kwintuthuko yezimali kuzo zonke izindlela zokulinganisa izinga lentuthuko yezomnotho kuwo wonke amamodeli amane, ngokuhambisana nezinye izifundo zocwaningo oluphathekayo lwalesi sifundo. Ngalokho-ke amazwe ase-Afrika ayanxenxwa ukuthi agweme ukumosha isikhathi sawo athuthukisana futhi asebenzisa uhlelo lokuthumela izimali futhi agweme ukuqinisa imigomo yoncedo oluvela emazweni angaphandle kanye nokuthuthukisa abantu ngokwamakhono omsebenzi, njengento yokuhlahla indlela yohlelo lokuthuthukiswa kwezimali. Ukusethenziswa kokubili imali ebanzi (njengephesenti le-GDP) kanye njengesilinganiso sesikweletu, phecelezi-domestic private credit ratio sisebenza njengesilinganiso sezinga lokutthuthuka ngokwezimali, ukusebenzisana phakathi kwezimali ezibhadalwayo kanye nokuhluma komnotho kutholakele ukuthi kube nomthelela ongabalulekile omubi phezu kwezinga lentuthuko yezimali e-Afrika. Ngokomgomo lokhu kuchaza ukuthi i-Afrika idinga ukuthi igweme ukwencika kakhulu ukusebenzisa uhlelo lokuthuthukiswa komnotho njengomgudu lapho kungathuthukiswa komnotho. / Financial Accounting / M. Com. (Business Management)

Summary in German and English / Die vorliegende Arbeit widmet sich dem Gemeindeaufbau und der Mission von Pfingstgemeinden unter Russlanddeutschen in der UdSSR und der BRD. Leitend ist dabei die Frage, welche missiologische Praktiken und Prinzipien für den Wachstum dieser Gemeinden verantwortlich waren. Die historische Untersuchung beginnt mit der Entstehungsgeschichte der Pfingstbewegung unter den Russlanddeutschen in der UdSSR und BRD. Dabei werden vor allem die Gemeindeaufbaumethoden der Pfingstgemeinden, ihre geographischen Ausdehnung und ihre zahlenmäßige Ausweitung betrachtet. Der historische Teil der Studie bildet im weiteren Forschungsverlauf die Grundlage zur Entwicklung einer qualitative Studie der russlanddeutschen Pfingstgemeinden in der BRD. Dazu wurden mittels qualitativer Interviews Leiter aus 14 Gemeinden zu ihrer Glaubenspraxis, dem Gemeindeaufbau und ihrer Mission befragt. Auf Basis der Grounded Theory wurden die gewonnenen Daten ausgewertet, nach verschiedenen Wachstumsfaktoren geordnet und vor dem Hintergrund missionstheologischer Aspekte interpretiert. Schließlich werden die Ergebnisse aus der historischen und empirischen Untersuchung mit den gegenwärtigen missiologischen Konzepten verglichen und eine handlungsorientierte Perspektive eröffnet. Die vorliegende Studie soll als Diskussionsbeitrag zum Gemeindeaufbau und der Mission der russlanddeutschen Pfingstgemeinden in der Missiologie dienen / The present paper deals with the development and mission of the Pentecostal community of German- Russians in USSR and FRG (Federal Republic of Germany). The main purpose is which missiological practices and principles brought about the development of these communities. The historical investigation starts with the history of the origins of the Pentecostal movement among the German- Russian people in the USSR and FRG. The attention is paid to the methods of the establishment and development of the community, its geographical extension and also the numerical growth. Furthermore the historical research is the basis for the development of the qualitative study about the Pentecostal- communities of the German- Russians in FRG. Therefore leaders of 14 Pentecostal Churches were interviewed and asked about their religious practices, community development and mission. Based on the Grounded theory the collected data were classified in different growth factors and they were interpreted against the background of mission- theological aspects. Finally the results of the historical and empirical research are compared with current missiological concepts so that they open an action-orientated perspective. This study provides a basis for a debate for the community development and missionary of German- Russian Pentecostal Communities. Key Terms / Christian Spirituality, Church History and Missiology / D. Th. (Missiology)

Over the past 30 years South Africa has lost valuable human capital due to high volumes of emigration. South Africa has also seen numerous changes in its political, economic and social structure specifically in these decades, but little investigation has been done into the possibility of an association between political, economic and social, as well as personal factors, and the decision to leave South Africa. This study refers to Lee’s Migration Model (1966) that was used as a broad theory for migration. The model involves four sets of factors: factors associated with the area of origin, factors associated with the area of destination, intervening obstacles and personal factors. Maslow’s Hierarchy of Needs Theory also explains the personal motivational theory for migration. Lee’s Model of Migration is used to investigate which political, economic, social and personal factors in the area of origin (South Africa) pushed South African emigrants to leave the country. It also investigates which political, economic, social and personal factors in the area of destination (Australia and New Zealand) pulled South African emigrants toward these countries. This study involved mixed-methods research (Creswell, 2009), thus the data collection methods were both qualitative and quantitative. The study followed a sequential exploratory strategy in two stages with the qualitative data collection occurring first, followed by a quantitative study – ‘QUALquan’ study. The data are mixed between analysis of the qualitative data and the quantitative data collection (Creswell, 2009:211). The qualitative data collection instruments used in the first stage of the study in 2009, were face-to-face interviews consisting of one focus group and six personal interviews in New Zealand, as well as twelve personal interviews in Australia. In the second stage of the study in 2015, namely the quantitative research, respondents were selected by contacting 17 closed (secured) Facebook groups that were formed for South Africans living either in Australia or New Zealand. There is no alternative sampling frame available since emigrants do not need to declare themselves as migrants on a work visa, furthermore, official documentation is not accessible to the public. A quantitative data collection instrument was administered with an online questionnaire. In the Australian Facebook groups, 137 respondents completed the questionnaire, and in New Zealand Facebook groups, 118 respondents, which adds up to a total of 255 respondents who completed the questionnaire. The results concluded that South Africa’s governance framework, its infrastructure and legislation acted as political push factors motivating South Africans to emigrate, while an uncertain economy contributed as an economic push factor. Socially, a perception of a limited future and a narcissistic society is what pushed South Africans to emigrate. Personal push factors that drove the emigration decision included, unmet physical, safety, belonging and esteem needs. The political factors that pulled South African emigrants to Australia and New Zealand involved effective government services and governmental aid. Economic pull factors included economic certainty and a lower cost of living. Social pull factors proved to be familiar circumstances and a better future. Personal pull factors were safety, belonging and self-actualisation needs. This mixed-method approach focussed on the gap to a followup study that was identified in previous individual qualitative and quantitative studies. These results may assist the South African government to take measures that ensures the retention of highly skilled citizens. / Business Management / M. Com. (Business Management)

Text in English / Zimbabwe‘s economic and political instability has resulted in the migration of over four million of its people. Many of those who join the Diaspora leave their children behind in the home country, a phenomenon known as ―Diaspora orphans‖. Little is known of the experiences of these Zimbabwean adolescents affected by parental out-migration. A Pilot Study in 2011 highlighted emergent themes and explored the use of defence and coping mechanisms, by thematically analysing in-depth interviews carried out with these youngsters. This study re-examined these interviews and carried out follow-up ones, with a view to establish whether longitudinal changes take place. Resilience levels of participants were also measured, using the Child and Youth Resilience Measure ‒ 28, in individual, relational and contextual areas, to establish whether high resilience results in better coping and adjustment to parental absence. Findings confirm this and evidence that multiple stressors result in lower resilience levels and seem to indicate that a reciprocal relationship exists between resilience levels and optimal coping. Recommendations on how best to help these youngsters to cope with their altered circumstances, with special emphasis on the role of educational establishments, and suggestions for further research in this field conclude this study. / Psychology / D. Litt. et Phil. (Psychology)

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The thesis analyzes macro-economic determinants and roles of financial sector development.<p> The literature argues that the size and efficiency of both banking systems and financial markets - the two major components of a financial system - matter for economic development. In the same vein, the quality of financial institutions and regulations are instrumental in the construction of a strong financial system.<p> We study several aspects of financial sector development in relation to three recent phenomena, namely, the rise of Islamic banking and finance, the increasing interest for emerging stock markets, and the growing remittance flows.<p> This thesis is made up of three essays.<p> The first essay extends the literature on the determinants of financial sector development, from the angle of culture. We show that, on average, Islamic finance favors the development of the banking sector in Muslim countries. We provide evidence that several countries have indeed been successful in launching a new, Shariah-compliant, banking system, while not harming the existing, conventional, banking sector. Our empirical analysis uses a newly-constructed original database on the size and performance of Islamic deposit banks globally over the period 2000 to 2005.<p> The second essay focuses on stock markets, in particular, the less-studied emerging equity markets. We confirm traditional literature findings on unconditional stock returns, over a panel of 53 Major and Frontier markets. Mainly, volatility is high, big surprises happen, and return correlations with the rest of the world are low but have been rising over the last decades. In spite of large differences in market size and liquidity, Frontier market returns are qualitatively similar to Major markets', except correlations, which are lower in Frontier markets. At current correlation levels, the latter continue to bring substantial diversification benefits to international investors.<p> The last essay examines the relationship between remittances and economic growth. It confirms that remittances are important for developing countries as they stimulate domestic investment. It then demonstrates, theoretically and empirically, that improving the access to bank deposit accounts is crucial to channel remittances to more productive uses. This is even more true when the access to international borrowing is costly.<p> The 2008-2009 financial crisis has propelled the improvement of financial systems to the top of policymakers' agendas. Our work contributes to a better understanding of the importance of finance in economic outcomes. It also brings a novel perspective on the determinants of financial systems./<p> Notre thèse a pour objet l'étude des déterminants et des rôles macro-économiques des secteurs financiers dans le monde.<p> Selon la littérature scientifique, la taille et l'efficacité des systèmes bancaires et des marchés financiers - les deux composantes principales d'un système financier - sont importantes pour le développement économique. Il apparaît également que la qualité des institutions et des régulations financières contribuent à la création d'un système financier fort.<p> Au travers de trois essais, nous examinons plusieurs aspects du développement du secteur financier, qui sont en relation avec trois phénomènes récents; à savoir: la croissance de la finance islamique, l'intérêt grandissant pour les marchés boursiers émergents, et l'augmentation des flux de transferts de fonds des migrants.<p> Dans le premier essai, nous nous intéressons aux facteurs culturels comme déterminants des secteurs financiers et, en particulier, au rôle de la religion musulmane. Nous montrons que, en moyenne, la finance islamique favorise le développement du secteur bancaire dans les pays musulmans. Plusieurs pays ont en effet réussi à développer un nouveau secteur bancaire compatible avec la Shariah, sans porter ombrage au secteur bancaire non islamique avec lequel il co-existe. Notre analyse empirique est fondée sur une base de données nouvelle et originale. Celle-ci a pour intérêt de fournir des indicateurs de taille et de performance des banques islamiques de dépôt dans le monde, pour la période 2000-2005.<p> Dans le deuxième essai, nous explorons les rendements inconditionnels obtenus sur les marchés boursiers, en particulier les marchés émergents d'actions. Notre analyse d'un large panel de 53 marchés émergents "Majeurs" et "Frontières" confirme les résultats traditionnellement observés dans la littérature. Ainsi, pour l'essentiel, les deux types de marchés sont volatils et émaillés d'événements extrêmes. De plus, les rendements des marchés émergents sont faiblements corrélés avec ceux du reste du monde, même si ces corrélations ont augmenté au cours des derniers décennies. Malgré d'importantes différences en terme de taille et de liquidité, les rendements sur marchés "Frontières" sont qualitativement similaires à ceux des marchés "Majeurs", à l'exception des corrélations. Ces dernières sont en effet actuellement plus faibles dans les marchés "Frontières", qui continuent dès lors à offrir d'importants bénéfices de diversification aux investisseurs internationaux.<p> Dans le dernier essai, nous examinons la relation entre les transferts d'argent des migrants et la croissance économique. Nous confirmons l'idée que les transferts de fonds des migrants sont importants pour les pays en voie de développement. Mais surtout, nous démontrons, de manière théorique et empirique, qu'il est crucial de faciliter dans ces pays l'accès aux comptes de dépôt bancaires, afin de transformer une plus grande part des transferts des migrants en investissements productifs. Ceci est d'autant plus vrai quand l'accès aux autres sources de capitaux internationaux est coûteux.<p> En conclusion, la crise financière de 2008-2009 a fait de l'amélioration des systèmes financiers la priorité de nombreuses politiques économiques. Dans cette perspective, notre travail apporte une contribution à une compréhension plus fine de l'importance de la finance pour l'économie, ainsi qu'une vision novatrice des déterminants des systèmes financiers. / Doctorat en Sciences économiques et de gestion / info:eu-repo/semantics/nonPublished