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Thesis (MA)--Stellenbosch University, 2012. / ENGLISH ABSTRACT: This is a theoretical study that appraises the nature and dimensions of Sub-Saharan Africa's (SSA's) political economy and the forces that underpin them, using a Coxian framework of analysis. Since 2000 the nature of SSA's political economy has been changing. Emergent trends and shifts in the region‟s political economy, including strong economic growth performances and increasing South-South cooperation, appear in contradiction to a dependent and conflict ridden depiction portrayed by most literature on SSA. From a Coxian perspective, it is contended in this study that these changes in SSA's political economy have arisen because of systemic changes occurring in the international system. At the same time, the study acknowledges that SSA's political economy is infused with dependence that can be identified through exploring the historical context of the twentieth century that shaped it. The majority of scholarly literature written on SSA has focused on humanitarian crises, poverty, war, corruption and conflict. In addition, mainstream International Relations (IR) and International Political Economy (IPE) theory largely overlook SSA. The majority of those that explore SSA's place in world politics have failed to contextualise SSA's position within the context of structural changes occurring in the international system. This has resulted in mainstream IR and IPE paradigms being inadequate to provide explanations for emergent trends in SSA's political economy. Exploration and analysis of mainstream IR and IPE theories and Africa's epistemological and ontological requirements directed the study towards selecting a narrowed Coxian Critical Theory (CCT) framework to further explore SSA's political economy. Using the CCT theoretical tools of 'historical structures' and 'hegemony' in the international system, the study explores: What have been the key trends prevalent in SSA’s political economy from 2000-2011 and how have these been shaped by structural changes in the international system? Does the nature of SSA’s political economy between 2000 and 2011 give scope for SSA’s conditions of dependence to alter? A historicised approach in line with CCT allows for exploration of SSA's conditions of dependence through identifying the key ideas, institutions and material capabilities pertinent to SSA's political economy in the twentieth century. The main trends of SSA's political economy from 2000 to 2011 include: a resilient economic and political performance in the face of the financial crisis of 2007 to 2010; increasing engagement with emerging powers resulting in being typified as the 'swing continent'; and different ideas and new approaches with regards to development thinking and the role and nature of institutions. These trends have been highly influenced by the structural change in relative material capabilities from traditional to emerging powers during this decade. The specific use of CCT as a framework has provided the means to analyse the fluid interactions between the key forces in SSA's political economy and the international system, allowing analysis of the possibility of SSA's conditions of dependency to alter. However, this is contingent on factors such as the desire of African leaders and policymakers to end the conditions of dependence. The study identifies the scope and limitations of Coxian analysis for understanding trajectories in SSA's political economy. / AFRIKAANSE OPSOMMING: Hierdie is 'n teoretiese studie wat die aard en die omvang van sub-Sahara Afrika (SSA) se politieke ekonomie en die kragte wat dit beïnvloed ondersoek, deur gebruik te maak van 'n Coxiaanse (Coxian) ontledingsraamwerk. Sedert die jaar 2000 het die aard van SSA se politieke ekonomie begin verander. Verskuiwings en tendense in die streek se politieke ekonomie, insluitende sterk ekonomiese groeisyfers en 'n toename in Suid-Suid samewerking, strook nie met die beeld van 'n afhanklike en geweld geteisterde gebied wat dikwels in die literatuur oor SSA verskyn nie. Hierdie studie voer aan, vanuit 'n Coxiaanse oogpunt, dat sulke veranderinge in SSA se politieke ekonomie hul oorsprong het in sistemiese verskuiwinge in die internasionale bestel. Terselfdertyd, word dit aanvaar dat SSA se politieke ekonomie wel aspekte van afhanklikheid toon, veral wanneer die 20ste eeu in oënskou geneem word. Meeste akademiese literatuur oor SSA plaas die fokus op humanitêre krisisse, armoede, oorlog, korrupsie en konflik. Daarbenewens het hoofstroom Internationale Betrekinge (IB) en Internasionale Politieke Ekonomie (IPE) hoofsaaklik SSA oor die hoof gesien, terwyl dié wat SSA se plek in die internasionale sisteem ondersoek, dikwels daarin faal om SSA se posisie in die konteks van strukturele veranderinge in die internasionale stelsel te ontleed. Dit het IB en IPE paradigmas tot gevolg wat onvoldoende is om ontluikende tendense in SSA te verklaar. Daar is dus tekortkominge in hoofstroom IB en IPE teorieë. Terselfdertyd stel ontleding van SSA epistemologiese en ontologiese vereistes. Derhalwe gebruik hierdie studie 'n nouCoxiaanse Kritiese Teoretiese (CKT) raamwerk om SSA se politieke ekonomie dieper te ondersoek. Deur gebruik te maak van CKT se teoretiese gereedskap, historiese strukture en hegemonie in die internasionale stelsel, ondersoek die studie die volgende vraag: Wat is die belangrikste tendense wat voorkom in SSA se politieke ekonomie vanaf 2000-2011 en hoe is hierdie tendense gevorm deur die strukturele veranderinge in die internasionale stelsel? Ook, bied die aard van SSA se politieke ekonomie tussen 2000 en 2011 ruimte vir SSA se omstandighede van afhanklikheid om te verander? 'n Gehistoriseerde aanslag in lyn met CKT maak voorsiening vir die verkenning van SSA se omstandighede van afhanklikheid deur die identifisering van die belangrikste idees, instellings en materiële vermoëns wat betrekking het op SSA se politieke ekonomie in die twintigste eeu. Van die hoof tendense in SSA se politieke ekonomie tussen 2000 tot 2011 sluit in: sterk ekonomiese en politieke prestasie ten spyte van die finansiële krisis van 2007-2010; toenemende betrokkenheid deur opkomende magte wat daartoe lei tot Afrika bekend te staan as die 'swaai kontinent'; en, nuwe begrippe en idees oorontwikkeling, sowel as oor die rol en aard van instellings. Hierdie tendense is sterk beïnvloed deur strukturele veranderinge die afgelope decade in die relatiewe én materiële bevoegdhede van tradisionele en ontluikende magte. Die gebruik van CKT laat ontleding van die wisselwerking tussen sleutelmagte in SSA se politieke ekonomie toe, wat gevolglik ook analise van potensiële verandering in SSA se afhanklikheid moontlik maak. Of afhanklikheid wel beeindig sal word, hang onder meer af van die bereidheid van Afrika-leiers en beleidmakers om daad by die woord te voeg. Die studie bepaal die bydrae en beperkinge van Coxiaanse analise vir 'n begrip van die trajek wat SSA se politieke ekonomie inneem.

Thesis (PhD)--Stellenbosch University, 2014. / ENGLISH ABSTRACT: This study analyses the implications of financial liberalisation programme for international remittance inflows with regard to the macroeconomic determinants and also the implications of remittances for economic growth and development in sub-Saharan Africa (SSA) between 1980 and 2009. The methodological approach to the analytical framework of this study is based on the hypothesis that financial liberalisation causes higher inflows of international migrant remittances through official channels to augment the scarce domestic financial resources, and to stimulate economic growth for sustainable development in capital-constrained SSA. Prior to the macroeconometric analyses, the study addressed definitional and measurement issues on international remittances and financial liberalisation, and provided an overview of the macroeconomic policy environment in post-independent SSA, as well as the magnitude and the trends in remittances received by SSA relative to other developing economies. First, the system Generalised Method of Moment (GMM) for dynamic panel-data estimation was used to determine the macroeconomic factors responsible for the changing trends in remittance inflows. Then an inquiry into the impact and causal effects of financial liberalisation on international remittance inflows in SSA following the static panel-data modelling and panel Granger non-causality estimation procedures was undertaken. Following this, the system GMM was further employed to examine the impact of remittances on long-run economic growth, and the effects of remittance inflows on economic development in SSA. Essentially, the economic development indicators considered in this study are poverty, income inequality, labour market outcomes, human capital development, and financial development. It is revealed in this study that the most appropriate measure of international migrant remittances is the sum of “workers‟ remittances” and “compensation of employees” excluding “migrant transfers”. Using remittances per capita, which the study found to be the best proxy for remittances per migrant rather than the commonly used remittances as a percentage of GDP, it is shown that SSA is the least recipient of official migrant remittances in the world, with no SSA country receiving remittances worth US$1 per day. This study further establishes that the macroeconomic factors that influence remittance inflows in SSA have varying rather than static impact in response to changing macroeconomic policy environment. Also, macroeconomic factors have different influences on attracting remittances from abroad in relation to migrant duration status – permanent or temporary. Although financial liberalisation Granger-causes international remittances, not sufficient evidence exists that a significant proportion of the official remittances received in SSA passes through the banking system. Besides, the extent to which financial liberalisation can Granger-cause and/or positively impact on international remittance inflows in SSA is directly and ultimately conditional to the macroeconomic fundamentals of the remittance-receiving SSA country. It was also found out that generally, international migrant remittances propel higher economic growth in SSA, with greater impact on SSA countries with relatively higher growth rates. International remittance inflows have significant positive developmental impact, with no sufficient evidence of moral hazard effects. Overall, international remittances contribute to reducing poverty and unemployment but not necessarily income inequality and, at worse, remittances have no significant impact on labour productivity and participation in SSA. Higher remittance inflows promote human welfare, educational attainment, life expectancy, and financial development in SSA. With the exception of educational attainment, the developmental effects of remittances vary across countries, depending upon the level of economic development.

Thesis (MComm (Business Management))--University of Stellenbosch, 2009. / ENGLISH ABSTRACT: “Africa’s not for sissies” is what one often hears when discussing business conditions in sub-Saharan Africa (SSA). For purposes of this study, the relatively well-developed country of South Africa has been excluded from the definition of SSA. The region boasts some of the lowest human development index scores and economic growth levels in the world, while enjoying the unenviable reputation as one of the most corrupt places on earth. The fact that SSA fares poorest of all when it comes to attracting foreign direct investment (barely 1% of global inflows), is due to foreign investor perceptions of unacceptable levels of country risk that keep them from investing in the region. Reasons for SSA’s malaise are instructive as context for the status quo and include the aftermath of colonialism, continued flare-ups of ethnic-induced civil unrest, the lingering effects of a disastrous flirtation with socialism and a recent generation of corrupt and incompetent leaders. However, the good news is that the new millennium increasingly exhibits significant trends in support of the notion that a reversal of SSA’s fortunes is underway: annual GDP growth in the region is well ahead of the global average, civil wars in the region have largely come to an end and, for two years running, private equity investment flows into the region have surpassed that of foreign aid, Africa’s traditional ‘crutch’. Importantly, a small band of early-mover Multinational Corporations (MNCs) are making their presence felt in the region and beginning to make good profits. These firms include the likes of Diageo, The Coca-Cola Company, MTN and SABMiller. Still, today’s business environment in the small, impoverished markets of SSA remains extremely challenging, characterised by poor infrastructure and skills, coupled to an unhelpful officialdom. The purpose of this study is to research the impediments to investing in SSA, both real and imagined, and then to discuss ways of overcoming these. By applying a qualitative research methodology, including the use of case studies and structured interviews with selected executives of the MNCs active in the region, key success factors for investing and operating in the region will be identified and explained. / AFRIKAANSE OPSOMMING: Enigeen wat ‘n besigheid in Afrika bedryf is dit eens dat ‘n mens hare op jou tande nodig het om hier sukses te behaal as gevolg van die aansienlike aantal struikelblokke wat ‘n mens te wagte moet wees. Hierdie studie is gemik op die onontwikkelde Afrika lande, suid van die Sahara woestyn (ASS). Suid Afrika word vir doeleindes van hierdie studie uitgesluit uit die definisie van ASS, weens die land se relatiewe gevorderde besigheidsklimaat. Ongelukkig word die lande van die ASS streek oorwegend gekenmerk deur lae peile van ontwikkeling, asook lae ekonomiese groeikoerse. Die streek word boonop beskou as die mees korrupte plek op aarde. Dit is dus geen wonder nie dat ASS die slegste van alle streke vaar wanneer dit by besteding deur buitelandse beleggers kom nie – laasgenoemde glo eenvoudig dat die gepaardgaande risiko verbonde aan die maak van ‘n belegging in die streek onaanvaarbaar hoog is. Sommige van die redes wat aanleiding gee tot hierdie teleurstellende toedrag van sake is insiggewend as konteks vir hierdie studie, insluitend: die nagevolge van die era van kolonialisme, sporadiese uitbarstings van etniese geweld, die negatiewe gevolge veroorsaak deur die onlangse beheptheid met sosialisme onder baie van die streek se lande, asook die uitwerking van uiters swak leierskap in die streek gedurende die tweede helfte van die 20ste eeu. Die keersy van hierdie swak beeld is dat ‘n aansienlike verbetering in toestande te bespeur is sedert die aanvang van die 21ste eeu. Die Bruto Nasionale Produk van ASS lande groei nou vinniger as dié van enige ander streek op aarde. Die voorkoms van burgerlike onrus en geweld in die streek toon ‘n beduidende afname. Vir die eerste keer ooit is die waarde van buitelandse beleggings in ASS groter as die waarde van hulp en ondersteuning wat die streek van die buiteland ontvang (en waarop die regerings van die streek tradisioneel staatgemaak het om basiese dienste aan hul inwoners te verskaf). Dit is ook verblydend om te verneem dat ‘n klein groepie ywerige internasionale maatskappye besig is om hulself toenemend in die gebied te vestig en dat hulle goed geldmaak daaruit. Voorbeelde van suksesvolle maatskappye sluit Diageo, Coca-Cola, MTN en SABMiller in. Nogtans bly die besigheidstoestande waarin maatskappye hulle bevind ongunstig in die brandarm markte van ‘n streek wat verder gekenmerk word deur gebrekkige infrastruktuur, onvoldoende vaardighede en onbehulpsame amptenare. Die doel van die navorsing is eerstens om die daadwerklike toedrag van sake vas te stel i.v.m. die omgewingsfaktore wat verhinder dat maatskappye vrylik hul doelstellinge in ASS mag najaag. Daarna word die fokus verskuif sodat oplossings geformuleer mag word ten einde hierdie struikelblokke uit die weg te ruim. ‘n Kwalitatiewe navorsingsmetode word nagevolg. Dit sluit die gebruik van gevallestudies en gestruktureerde onderhoude met senior verteenwoordigers van internasionale maatskappye met filiale in ASS in. Die vernaamste uitslag van die navorsing is die daarstelling en verduideliking van ‘n stel kritieke suksesfaktore wat as handleiding mag dien aan diegene wat besighede in die streek bedryf.