This study considers the nature of savings behaviour amongst low income earners residing in the township areas of Kouga Municipal District. It reflects on the popularity and persistence of informal savings and credit associations, also known as stokvels, in these communities in the face of an increase in the availability of formal savings products. This study argues that despite financial deepening taking place within the South African economy, the popularity and widespread usage of stokvels can largely be attributed to the lack of appropraite formal products available for low income earners. This study does not conclude that the usage of informal savings products results in increased savings behaviours amongst this group, but it does conclude that they provide a suitable mechanism in which savings can take place.

This study examined whether or not financial intermediation can explain the variations in the savings-investment ratio in South Africa during the period 1990 to 2012. The study specifically tests the McKinnon Conduit Effect hypothesis which states that increasing interest rate raises the capacity of financial savings via financial intermediaries based on data from South Africa. Apart from informal graphical test, this study employed formal tests such as the Augmented Dickey-Fuller and Phillips Perron stationarity tests to test the properties of the variables considered, including interest rates, for stationarity. In order to ascertain the long-run and short-run dynamics between its variables, the Johansen co-integration test is utilized, while the Error Correction Mechanism is also employed. Results from the study state that financial assets (a proxy for financial intermediation), income and real interest rate all positively impact the savings-investment ratio. Additionally, short-run analysis results showed that income, financial assets and real interest rates positively influence the savings-investment ratio. Real interest rates were seen as being both positive and statistically significant. Therefore the study recommended that the financial services sector and the South African Reserve Bank (SARB) should work together as this will result in the improvement of efficiencies in price discovery with regards to bank charges, access to banking facilities and the timely provision of services in order to encourage savings (for investment purposes) in the South African economy.

This diploma thesis discusses about possibilities of housing financing and is especially focusing on mortgage market in Czech Republic. First part of this thesis has theoretical character and describes different types of housing: property housing, cooperative housing and rental housing and their specific features. This part also contains general characteristics of the basic ways of housing financing: building saving and mortgages. Besides, building savings is here compared with mortgages and there are described advantages and disadvantages of those both possibilities of housing financing. In this part there are also put examples of "future mortgages", which are not offered by Czech banks yet. The second part of the diploma thesis is focusing its attention on actual world crisis. Defines reasons of its origin, describes its impact on European and Czech economy. Also, discusses about impact the actual crisis has on estate market and market with loans and mortgages in Czech Republic. The third part of the thesis is concerned on standard procedure while disposing the mortgage and contains short example of buying an apartment by fictive person.

The aim of my thesis is to describe the functioning of capital markets in the Czech Republic and investment opportunities these markets offer the people of the Czech Republic . In the individual chapters, I will describe the potential risks that accompany the investment instruments, and recommend what position relative to the detected data on individual investments take. In conclusion, I will acquaint the reader with the attitude of Czech households for investments and debt and recommend what investment portfolio should take in order to ensure smooth functioning.

Saving is critical for the economic development of a country and can insulate it from unwanted inflation and financial instability as a result of international exposure. South Africa is currently experiencing low savings rates and many South Africans have difficulty servicing their debts. Black Africans form the majority in South Africa and they are therefore of critical importance with regard to saving and this country’s ability to finance future projects. It can be argued that the White South African population is becoming older and will therefore begin to withdraw its savings. A literature review has been undertaken to distil the determinants of saving in general and to observe the applicability of these determinants to Black middle class South Africans. Therefore, this paper seeks to identify the determinants of household savings of the Black middle class, with reference to questionnaires and quantitative answers from the respondents in four of South Africa’s provinces. The key findings of the research indicate that the South African Black middle class is financially illiterate and not disciplined with regard to budgeting. They show a high dependency ratio, and the need for instant gratification. In addition, people are hindered by cultural norms that inhibit them from discussing theirSaving is critical for the economic development of a country and can insulate it from unwanted inflation and financial instability as a result of international exposure. South Africa is currently experiencing low savings rates and many South Africans have difficulty servicing their debts. Black Africans form the majority in South Africa and they are therefore of critical importance with regard to saving and this country’s ability to finance future projects. It can be argued that the White South African population is becoming older and will therefore begin to withdraw its savings. A literature review has been undertaken to distil the determinants of saving in general and to observe the applicability of these determinants to Black middle class South Africans. Therefore, this paper seeks to identify the determinants of household savings of the Black middle class, with reference to questionnaires and quantitative answers from the respondents in four of South Africa’s provinces. The key findings of the research indicate that the South African Black middle class is financially illiterate and not disciplined with regard to budgeting. They show a high dependency ratio, and the need for instant gratification. In addition, people are hindered by cultural norms that inhibit them from discussing their finances. These findings can be traced back to this class’s previous exclusion from the main economy. The recommended outcome of this paper indicates that the South African government should implement budgeting as part of the curriculum in primary and high schools. People leaving employment before retirement should not be allowed to cash out more than 50% of their pension fund, and the private sector should be involved in educating its employees with regard to budgeting and the benefits of saving, while creating an environment that facilitates access to financial providers. / Dissertation (MBA)--University of Pretoria, 2012. / Gordon Institute of Business Science (GIBS) / unrestricted

This Master’s thesis deals with the analysis problem during of electrical energy. On the basis of findings, the work includes analysis of the costs on electrical energy.

This thesis contains empirical findings on rural energy, forest resource use and fuel saving technologies in Ethiopia. Using a household survey data conducted in different parts of the country, efforts were made to contribute to the limited empirical evidences in Africa in general and Ethiopia in particular. The thesis has four empirical chapters and the first and the last chapters of the thesis are the introduction and summary, respectively. The main findings and policy implications are highlighted below. The second chapter examines the coping mechanisms of rural households to fuel wood scarcity. Using randomly selected households, the results of the empirical analysis show that rural households residing in forest degraded areas respond to fuel wood shortages by increasing their labor input to fuel wood collection. The study also finds that there is no evidence for the substitution between fuel wood and dung or fuel wood and crop residues. Supply side strategies alone may not be effective in addressing the problem of forest degradation and biodiversity losses. Any policy on natural resource management in general and rural energy problems in particular should make a distinction between regions of different forest degradation level. The third chapter examines the relationship between property rights and household demand for fuel wood, as measured by the source from which fuel wood is collected. Results from the discrete choice model indicate that active local-level institutions reduce the dependency on community forests, but, otherwise, increase household dependency on open access forests. However, land tenure security and local level institutions do not increase demand for fuel wood collected from private forests. The results suggest that there is a need to bring more open access forests under the management of the community and increase the quality of community forestry management in order to realize improvements in forest conservation. The fourth chapter of this thesis deals with finding empirical evidence on the role of local level institutions and property right regimes on forest dependency using data from a random sample of rural households in Ethiopia. We find that forest dependency is negatively correlated to the wealth status of the household. Our estimation results suggest that local level institutions are not significant factors in determining use of non wood forest products unlike major forest products such as timber or woody materials in general. We also find that there is a need to expand the current practice of participatory forest management to other open access forest areas. We conclude that generalization on the forest-poverty link depends on the type of forest management and the specific characteristics that prevail in the area. The last chapter of the thesis deals with finding empirical evidence on the determinants of adoption of different types of fuel saving technologies in urban Ethiopia. The duration analysis suggests that adoption rates have been increasing over time, that income and wealth are important contributors to adoption, and that substitute technologies tend to hinder adoption of Lakech charcoal stove. However, it was not possible to consider prices or perceptions related to either the technologies or biomass availability in the duration models, and, therefore, further research is needed in order to further inform policy with respect to household technology adoption decisions. / Thesis (PhD)--University of Pretoria, 2012. / Economics / unrestricted

The study uses the conventional economic approaches to savings behaviour as a point of departure. In the past, agricultural programmes and policies overlooked the importance of savings mobilization in favour of credit extension programmes. This line of economic development approach arose from the assumption that poor rural people cannot save and will not respond to opportunities to save. The latest research results clearly demonstrate that rural people do mobilise significant voluntary savings, even at their low levels of income. The thrust of the study was to research savings behaviour and motivation to save by resource poor farmers, with specific reference to farmers in Moretele District, Northwest Province. The study tested the hypothesis that poor people cannot save, and went further to analyse determinants of savings behaviour, motivations to save, sources of savings mobilization, savings accounts used and motivations to use a specific savings product. The application of the life cycle hypothesis was also analysed. Linear multiple regression, Ordinary Least Squares (OLS) technique, analysis of variance (ANOV A), and factor analysis (FA) were used to analyse the data pertinent to the study. The findings of the study confirmed income as a major determinant of savings mobilization in the district. The extent of dependency, defined as the proportion of the population of a country falling in the age groups of 0-15 and 64 years and older, considered economically unproductive and therefore not counted as part of the country's labour force was found to have a negative effect on the ability of farmers to save. This is due to large family sizes and high levels of dependency in households. Age was also discovered to influence savings behaviour, but not in accordance with the application of the life cycle hypothesis. With regards to motivations to save, it was found that farmers in the district mainly save to cater for emergencies and for grandchildren's education, and not for accumulation/investment purposes. In addition to the abovementioned savings motives, farmers were however found to consider an investment imperative as reflected by an interaction between savings for accumulation and emergency purposes. The low investment imperative may change if other emergency management structures are considered. The main sources of savings mobilization for the farmers were income from livestock sales and government social security grant (government old age pension). These farmers were discovered to prefer ordinary savings plans. The rationale for this choice was found to be motivated by ease of quick access to savings and the liquidity provided by this savings product. The liquidity requirement is regarded as a strategy to address emergencies and any other financial need that might arise. The findings of the study calls for policy instruments that will expedite the implementation of outreach programmes and strategies for voluntary savings mobilization that will cater for investment imperative and emergency needs. Critical to this will be the development of savings products that respond to the various needs of resource poor farmers as well as to serve different categories of rural savers. The decentralization of savings institutions and linking of formal and informal financial institutions will enhance access to financial services by the rural population. Policies intended to discourage large families would help reduce the high rates of dependencies and relieve pressure on household income, which could be used for savings. / Dissertation (MSc (Agricultural Economics))--University of Pretoria, 2007. / Agricultural Economics, Extension and Rural Development / unrestricted

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In order to answer modern challenges, which come from increasing needs in energy forprivate persons and industries as well as in order to decrease negative environmentalimpacts, caused by the processes of energy generation, it is important to constantly searchfor untapped energy efficiency potential. Moreover, nowadays, energy efficiency hasbecome one of the prerequisites of successful market competitiveness for any type ofindustry on local and global levels.An energy audit is an instrument, which can be used for understanding how the energy isused and identify possible energy-saving opportunities. It can be applied to a facility as awhole, as well as individually to equipment, system(s) or process(es). Moreover, energysaving measures can be both cross-cutting and sector-specific.The purpose of this project was to conduct a detailed energy audit of the Hagby wasterecycling plant and to identify beneficial energy saving opportunities from economic,environmental and social perspectives.In the frames of a preliminary energy audit 10 focus areas for further analysis wereidentified. For every area a baseline assessment of the current energy performance wasconducted, possible energy management opportunities were identified and evaluated aswell as results of each analysis were summarized. According to the results of the study, with the implementation of the suggestions, whichrequire no, low or medium investments it is possible to save 3,2% of the energy per year,which corresponds to 76 846 kWh. Energy consumption can further be decreased byimplementing measures, which need high initial financial investment. In that case totalsavings will be 468 846 kWh or 19,4% of total annual energy consumption. Additionalenergy might be saved just by introducing energy housekeeping measures. Finally,implementation of all the proposed EMO can bring 14,46 tons of 2 CO savings annually.Additional benefits of implementing the energy saving opportunities come from decreasingenvironmental impacts, improving working conditions of the plant employees and higherenergy security at the plant.The results of the energy audit can be a solid base for establishing an energy managementprogram at the plant, which will include performance targets, required resources and aclear procedure of realization of improvements. However, since some of the calculations inthe current study are based on various assumptions, after the company forms the energymanagement program, it is necessary to invite experts from industry in order to giveaccurate calculations for each of the focus areas.