A comparative analysis with selected jurisdictions of structural challenges facing the South African office of the tax ombud
- Authors: Mothiba, Boitumelo Charity
- Date: 2020
- Subjects: South Africa. Office of the Tax Ombud , Tax administration and procdure -- South Africa , Taxpayer advocates -- South Africa
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/140360 , vital:37882
- Description: The Office of the Tax Ombud is critical in the protection of South African taxpayers' rights. The office has only been in existence for a little over five years and to ensure that it fulfils the purpose for which it was established, it must be properly structured. This includes that it ought to be independent from any external influence and manipulation. Any such external influence on the Tax Ombud creates the risk that the general public will lose confidence in the Tax Ombud as an independent recourse. The study, therefore, is designed to review the structure relating to the independence and powers of the South African Tax Ombud. The study assesses and evaluates the legislative safeguards of the structure of the Tax Ombud office in order to determine whether the legislative framework (the Tax Administration Act) safeguarding the Office of the Tax Ombud is adequate to ensure its independence and also to ensure a strengthened structure, without interference in the decision-making process of the office. To achieve this, a comparative analysis was made with selected foreign institutions of Tax Ombudsmen, or equivalent institutions, in order to draw from the best international practice. The study found that the structure of the Office of the Tax Ombud is relatively weak and does not fully provide the legislative powers to protect taxpayers from the well-resourced South African Revenue Service. The study also revealed that most of the institutional features in the structure of the South African Tax Ombud were found to be in line with standard international practice. The study has made recommendations aimed at strengthening the structure of the South African Tax Ombud by suggesting reforms in the legislative framework of the Tax Ombud.
- Full Text:
- Authors: Mothiba, Boitumelo Charity
- Date: 2020
- Subjects: South Africa. Office of the Tax Ombud , Tax administration and procdure -- South Africa , Taxpayer advocates -- South Africa
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/140360 , vital:37882
- Description: The Office of the Tax Ombud is critical in the protection of South African taxpayers' rights. The office has only been in existence for a little over five years and to ensure that it fulfils the purpose for which it was established, it must be properly structured. This includes that it ought to be independent from any external influence and manipulation. Any such external influence on the Tax Ombud creates the risk that the general public will lose confidence in the Tax Ombud as an independent recourse. The study, therefore, is designed to review the structure relating to the independence and powers of the South African Tax Ombud. The study assesses and evaluates the legislative safeguards of the structure of the Tax Ombud office in order to determine whether the legislative framework (the Tax Administration Act) safeguarding the Office of the Tax Ombud is adequate to ensure its independence and also to ensure a strengthened structure, without interference in the decision-making process of the office. To achieve this, a comparative analysis was made with selected foreign institutions of Tax Ombudsmen, or equivalent institutions, in order to draw from the best international practice. The study found that the structure of the Office of the Tax Ombud is relatively weak and does not fully provide the legislative powers to protect taxpayers from the well-resourced South African Revenue Service. The study also revealed that most of the institutional features in the structure of the South African Tax Ombud were found to be in line with standard international practice. The study has made recommendations aimed at strengthening the structure of the South African Tax Ombud by suggesting reforms in the legislative framework of the Tax Ombud.
- Full Text:
An appraisal and critique of land redistribution approaches in South Africa
- Authors: Phiri, M C S
- Date: 2020
- Subjects: University of the Western Cape. Institute for Poverty, Land and Agrarian Studies , Land reform -- South Africa , Land reform -- Law and legislation -- South Africa , Agriculture and state -- South Africa , Reconstruction and Development Programme (South Africa) , Land reform beneficiaries -- South Africa , South Africa -- Economic conditions -- 1991- , South Africa -- Social conditions -- 1994- , South Africa -- Economic policy , Land tenure -- Law and legislation -- South Africa , Black people -- South Africa -- Economic conditions , Black people -- South Africa -- Social conditions
- Language: English
- Type: Thesis , Masters , MA
- Identifier: http://hdl.handle.net/10962/149161 , vital:38810
- Description: This paper is in response to the PLAAS Land Conference held in February 2019 which aimed at discovering an alternative to how to solve the land question. The conference came at a time where land and agrarian reform re-emerged in South African socio-policy discussion. After twenty-five years of democracy the three land reform programmes have failed to restructure apartheid’s economic segregation, exclusionary land ownership patterns and to restore dignity to poor black South Africans. This study offers a detailed examination of the discourse of South African land reform, specifically the redistribution component with a focus on the land redistribution approaches presented at the PLAAS conference. Ultimately, the study puts forward a synthesized land redistribution approach as a hybrid solution to the land and agrarian crisis.
- Full Text:
- Authors: Phiri, M C S
- Date: 2020
- Subjects: University of the Western Cape. Institute for Poverty, Land and Agrarian Studies , Land reform -- South Africa , Land reform -- Law and legislation -- South Africa , Agriculture and state -- South Africa , Reconstruction and Development Programme (South Africa) , Land reform beneficiaries -- South Africa , South Africa -- Economic conditions -- 1991- , South Africa -- Social conditions -- 1994- , South Africa -- Economic policy , Land tenure -- Law and legislation -- South Africa , Black people -- South Africa -- Economic conditions , Black people -- South Africa -- Social conditions
- Language: English
- Type: Thesis , Masters , MA
- Identifier: http://hdl.handle.net/10962/149161 , vital:38810
- Description: This paper is in response to the PLAAS Land Conference held in February 2019 which aimed at discovering an alternative to how to solve the land question. The conference came at a time where land and agrarian reform re-emerged in South African socio-policy discussion. After twenty-five years of democracy the three land reform programmes have failed to restructure apartheid’s economic segregation, exclusionary land ownership patterns and to restore dignity to poor black South Africans. This study offers a detailed examination of the discourse of South African land reform, specifically the redistribution component with a focus on the land redistribution approaches presented at the PLAAS conference. Ultimately, the study puts forward a synthesized land redistribution approach as a hybrid solution to the land and agrarian crisis.
- Full Text:
Generation of a virtual library of terpenes using graph theory, and its application in exploration of the mechanisms of terpene biosynthesis
- Authors: Dendera, Washington
- Date: 2020
- Subjects: Terpenes , Plants -- Metabolism , Computational biology , Bioinformatics , Organic compounds -- Synthesis , Monoterpenes , Molecular biology -- Computer simulation
- Language: English
- Type: text , Thesis , Masters , MSc
- Identifier: http://hdl.handle.net/10962/123453 , vital:35439
- Description: Terpenes form a large group of organic compounds which have proven to be of use to many living organisms being used by plants for metabolism (Pichersky and Gershenzon, 1934; McGarvey and Croteau, 1995; Gershenzon and Dudareva, 2007), defence or as a means to attract pollinators and also used by humans in medical, pharmaceutical and food industry (Bicas, Dionísio and Pastore, 2009; Marmulla and Harder, 2014; Kandi et al., 2015). Following on literature methods to generate chemical libraries using graph theoretic techniques, complete libraries of all possible terpene isomers have been constructed with the goal of construction of derivative libraries of possible carbocation intermediates which are important in the elucidation of mechanisms in the biosynthesis of terpenes. Virtual library generation of monoterpenes was first achieved by generating graphs of order 7, 8, 9 and 10 using the Nauty and Traces suite. These were screened and processed with a set of collated Python scripts written to recognize the graphs in text format and translate them to molecules, minimizing through Tinker whilst discarding graphs that violate chemistry laws. As a result of the computational time required only order 7 and order 10 graphs were processed. Out of the 873 graphs generated from order seven, 353 were converted to molecules and from the 11,7 million produced from order 10 half were processed resulting in the production of 442928 compounds (repeats included). For screening, 55 366 compounds were docked in the active site of limonene synthase; of these 2355 ligands had a good Vina docking score with a binding energy of between -7.0 and -7.4 kcal.mol-1. When these best docked molecules were overlaid in the active site a map of possible ligand positions within the active site of limonene synthase was traced out.
- Full Text:
- Authors: Dendera, Washington
- Date: 2020
- Subjects: Terpenes , Plants -- Metabolism , Computational biology , Bioinformatics , Organic compounds -- Synthesis , Monoterpenes , Molecular biology -- Computer simulation
- Language: English
- Type: text , Thesis , Masters , MSc
- Identifier: http://hdl.handle.net/10962/123453 , vital:35439
- Description: Terpenes form a large group of organic compounds which have proven to be of use to many living organisms being used by plants for metabolism (Pichersky and Gershenzon, 1934; McGarvey and Croteau, 1995; Gershenzon and Dudareva, 2007), defence or as a means to attract pollinators and also used by humans in medical, pharmaceutical and food industry (Bicas, Dionísio and Pastore, 2009; Marmulla and Harder, 2014; Kandi et al., 2015). Following on literature methods to generate chemical libraries using graph theoretic techniques, complete libraries of all possible terpene isomers have been constructed with the goal of construction of derivative libraries of possible carbocation intermediates which are important in the elucidation of mechanisms in the biosynthesis of terpenes. Virtual library generation of monoterpenes was first achieved by generating graphs of order 7, 8, 9 and 10 using the Nauty and Traces suite. These were screened and processed with a set of collated Python scripts written to recognize the graphs in text format and translate them to molecules, minimizing through Tinker whilst discarding graphs that violate chemistry laws. As a result of the computational time required only order 7 and order 10 graphs were processed. Out of the 873 graphs generated from order seven, 353 were converted to molecules and from the 11,7 million produced from order 10 half were processed resulting in the production of 442928 compounds (repeats included). For screening, 55 366 compounds were docked in the active site of limonene synthase; of these 2355 ligands had a good Vina docking score with a binding energy of between -7.0 and -7.4 kcal.mol-1. When these best docked molecules were overlaid in the active site a map of possible ligand positions within the active site of limonene synthase was traced out.
- Full Text:
Towards the development of a bio-fertiliser using mixed liquor from high rate algal oxidation ponds
- Authors: Masudi, Wiya Léon
- Date: 2020
- Subjects: Biofertilizers , Microalgae - Biotechnology , Algae -- Culture
- Language: English
- Type: text , Thesis , Masters , MSc
- Identifier: http://hdl.handle.net/10962/142969 , vital:38181
- Description: Mixed liquor includes consortia of microalgae and bacteria produced in high rate algal oxidation ponds (HRAOPs). The consortia of microalgae and bacteria occur as flocs called microalgae-bacterial flocs (MaB-flocs). This study aimed to source bacteria from MaB-flocs generated in HRAOPs and, after isolation and identification, evaluate their potential as plant growth promoting (PGP) microorganisms. Twelve bacterial strains namely ECCN 1b, ECCN 2b, ECCN 3b, ECCN 4b, ECCN 5b, ECCN 6b, ECCN 7b, ECCN 8b, ECCN 9b, ECCN 10b, ECCN 11b, and ECCN 12b were successfully isolated and their molecular identity established using amplified 16S rRNA gene sequence analysis that was compared to sequences deposited in the NCBI gene database. Blast analysis identified these isolates at the genus level as Bacillus strain ECCN 1b, Fictibacillus strain ECCN 2b, Bacillus strain ECCN 3b, Aeromonas strain ECCN 4b, Exiguobacterium strain ECCN 5b, Arthrobacter strain ECCN 6b, Enterobacter strain ECCN 7b, Exiguobacterium strain ECCN 8b, Microbacterium strain ECCN 9b, Pseudomonas ECCN strain 10b, Ancylobacter strain ECCN 11b and Microbacterium strain ECCN 12b. These isolates were able to grow in nutrient broth in a pH range between 6 and 10, with the best growth achieved at pH 8 to 9. The results on the use of carbon substrate revealed that 5 strains including Arthrobacter strain ECCN 6b, Aeromonas strain ECCN 4b, Pseudomonas strain ECCN 10b, Enterobacter strain ECCN 7b and Bacillus strain ECCN 3b were capable of using glucose, sucrose and mannitol. No faecal coliforms were found. However, of the 12 isolates screened for bio-fertilisation potential, Bacillus strain ECCN 1b, Fictibacillus strain ECCN 2b, Bacillus strain ECCN 3b, Aeromonas strain ECCN 4b, Exiguobacterium strain ECCN 5b, Arthrobacter strain ECCN 6b, Enterobacter ECCN strain 7b, Exiguobacterium strain ECCN 8b and Pseudomonas strain ECCN 10b showed multifunctional plant growth promoting (PGP) potential. The potential for PGP included the production of ammonium-N, solubilisation of phosphate-P and potassium-K, oxidation of Mn and production of auxin, indole-3-acetic acid (IAA). Results are discussed in terms of the amount or concentration (mg L-1) of plant essential nutrient and growth regulator produced by these isolated bacteria. Even so, further studies are needed to test and confirm the bio-fertiliser and plant growth promoting activity of these strains in pot trials and field experiments, or both.
- Full Text:
- Authors: Masudi, Wiya Léon
- Date: 2020
- Subjects: Biofertilizers , Microalgae - Biotechnology , Algae -- Culture
- Language: English
- Type: text , Thesis , Masters , MSc
- Identifier: http://hdl.handle.net/10962/142969 , vital:38181
- Description: Mixed liquor includes consortia of microalgae and bacteria produced in high rate algal oxidation ponds (HRAOPs). The consortia of microalgae and bacteria occur as flocs called microalgae-bacterial flocs (MaB-flocs). This study aimed to source bacteria from MaB-flocs generated in HRAOPs and, after isolation and identification, evaluate their potential as plant growth promoting (PGP) microorganisms. Twelve bacterial strains namely ECCN 1b, ECCN 2b, ECCN 3b, ECCN 4b, ECCN 5b, ECCN 6b, ECCN 7b, ECCN 8b, ECCN 9b, ECCN 10b, ECCN 11b, and ECCN 12b were successfully isolated and their molecular identity established using amplified 16S rRNA gene sequence analysis that was compared to sequences deposited in the NCBI gene database. Blast analysis identified these isolates at the genus level as Bacillus strain ECCN 1b, Fictibacillus strain ECCN 2b, Bacillus strain ECCN 3b, Aeromonas strain ECCN 4b, Exiguobacterium strain ECCN 5b, Arthrobacter strain ECCN 6b, Enterobacter strain ECCN 7b, Exiguobacterium strain ECCN 8b, Microbacterium strain ECCN 9b, Pseudomonas ECCN strain 10b, Ancylobacter strain ECCN 11b and Microbacterium strain ECCN 12b. These isolates were able to grow in nutrient broth in a pH range between 6 and 10, with the best growth achieved at pH 8 to 9. The results on the use of carbon substrate revealed that 5 strains including Arthrobacter strain ECCN 6b, Aeromonas strain ECCN 4b, Pseudomonas strain ECCN 10b, Enterobacter strain ECCN 7b and Bacillus strain ECCN 3b were capable of using glucose, sucrose and mannitol. No faecal coliforms were found. However, of the 12 isolates screened for bio-fertilisation potential, Bacillus strain ECCN 1b, Fictibacillus strain ECCN 2b, Bacillus strain ECCN 3b, Aeromonas strain ECCN 4b, Exiguobacterium strain ECCN 5b, Arthrobacter strain ECCN 6b, Enterobacter ECCN strain 7b, Exiguobacterium strain ECCN 8b and Pseudomonas strain ECCN 10b showed multifunctional plant growth promoting (PGP) potential. The potential for PGP included the production of ammonium-N, solubilisation of phosphate-P and potassium-K, oxidation of Mn and production of auxin, indole-3-acetic acid (IAA). Results are discussed in terms of the amount or concentration (mg L-1) of plant essential nutrient and growth regulator produced by these isolated bacteria. Even so, further studies are needed to test and confirm the bio-fertiliser and plant growth promoting activity of these strains in pot trials and field experiments, or both.
- Full Text:
Absent parent/s: Psychological implications on children
- Authors: Magqamfana, Simnikiwe Happy
- Date: 2019
- Subjects: Single parent families -- South Africa , Father and child -- Psychological aspects -- South Africa , Father figures -- Psychological aspects , -- Children, Black -- South Africa -- Psychology , College students, Black -- South Africa -- Psychology , Child development -- South Africa
- Language: English
- Type: text , Thesis , Masters , MA
- Identifier: http://hdl.handle.net/10962/96886 , vital:31343
- Description: The present study intends to explore the psychological implications on the university students who grew up in households where their biological fathers are absent. Most studies associate the absence of the biological fathers with psychological challenges which, among others, include negative emotions such as anger, challenges with maintaining romantic relationships and tend to perform poorly at school. Such research on absence of fathers tends to privilege the biological father discourse in its analysis and often mentions in passing the role played by ‘other’ family members as ‘fathers’. Since during data collection participants kept on referring to the role of other family members or father figures, the study then expanded its scope of inquiry to include this phenomenon. Semi-structured face to face interviews were used to collect data from five university students and thematic analysis was used for data analysis. Psychoanalytic theory was used to specifically to understand or conceptualize the psychological implications on participants caused by the absence of the biological father. Black Social organization theory and Structural Functionalism theory were used to conceptualize the role of other family members/families or father figures in participants’ experiences and the influence of the society they grew up in. This study found that the participants accepted the role of the biological father as central in their lives and its absence resulted in psychological and economical difficulties. To cope with such difficulties, the support from other family members or other father figures was found to be significant in participants lives. Also, this study found that father absence motivates the participants to succeed to better their lives and majority of the participants regarded their grandmothers as father figures.
- Full Text:
- Authors: Magqamfana, Simnikiwe Happy
- Date: 2019
- Subjects: Single parent families -- South Africa , Father and child -- Psychological aspects -- South Africa , Father figures -- Psychological aspects , -- Children, Black -- South Africa -- Psychology , College students, Black -- South Africa -- Psychology , Child development -- South Africa
- Language: English
- Type: text , Thesis , Masters , MA
- Identifier: http://hdl.handle.net/10962/96886 , vital:31343
- Description: The present study intends to explore the psychological implications on the university students who grew up in households where their biological fathers are absent. Most studies associate the absence of the biological fathers with psychological challenges which, among others, include negative emotions such as anger, challenges with maintaining romantic relationships and tend to perform poorly at school. Such research on absence of fathers tends to privilege the biological father discourse in its analysis and often mentions in passing the role played by ‘other’ family members as ‘fathers’. Since during data collection participants kept on referring to the role of other family members or father figures, the study then expanded its scope of inquiry to include this phenomenon. Semi-structured face to face interviews were used to collect data from five university students and thematic analysis was used for data analysis. Psychoanalytic theory was used to specifically to understand or conceptualize the psychological implications on participants caused by the absence of the biological father. Black Social organization theory and Structural Functionalism theory were used to conceptualize the role of other family members/families or father figures in participants’ experiences and the influence of the society they grew up in. This study found that the participants accepted the role of the biological father as central in their lives and its absence resulted in psychological and economical difficulties. To cope with such difficulties, the support from other family members or other father figures was found to be significant in participants lives. Also, this study found that father absence motivates the participants to succeed to better their lives and majority of the participants regarded their grandmothers as father figures.
- Full Text:
Behaviour of quiet time ionospheric disturbances at African equatorial and midlatitude regions
- Authors: Orford, Nicola Diane
- Date: 2018
- Subjects: Ionospheric storms , Ionospheric storms -- Africa , Ionosphere , Plasmasphere , Q-disturbances , Total electron content (TEC)
- Language: English
- Type: text , Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10962/62672 , vital:28228
- Description: Extreme ionospheric and geomagnetic disturbances affect technology adversely. Prestorm enhancements, considered a potential predictor of geomagnetic storms, occur during quiet conditions prior to geomagnetic disturbances. The ionosphere experiences general disturbances during quiet geomagnetic conditions and these Q- disturbances remain unexplored over Africa. This study used TEC data to characterize the morphology of Q-disturbances over Africa, exploring variations with solar cycle, season, time of occurrence and latitude. Observations from 10 African GPS stations in the equatorial and midlatitude regions show that Q-disturbances in the equatorial region are predominantly driven by E x B variations, while multiple mechanisms affect the midlatitude region. Q- disturbances occur more frequently during nighttime than during daytime and no seasonal trend is observed. Midlatitude Q-disturbance mechanisms are explored in depth, considering substorm activity, the plasmaspheric contribution to GPS TEC and plasma transfer between conjugate points. Substorm activity is not a dominant mechanism, although Q-disturbances occurring under elevated substorm conditions tend to have longer duration and larger amplitude than general Q-disturbances. Many observed Q-disturbances become non-significant once the plasmaspheric contribution to the TEC measurements is removed, indicating that these disturbances occur within the plasmasphere, and not the ionosphere. Transfer of plasma between conjugate points does not seem to be a mechanism driving Q-disturbances, as the corresponding nighttime behaviour expected between depletions in the summer hemisphere and enhancements in the winter hemisphere is not observed. Pre-storm enhancements occur infrequently, rendering them a poor predictor of geomagnetic disturbances. Pre-storm enhancement morphology does not differ significantly from general quiet time enhancement morphology, suggesting pre-storms are not a special case of Q-disturbances.
- Full Text:
- Authors: Orford, Nicola Diane
- Date: 2018
- Subjects: Ionospheric storms , Ionospheric storms -- Africa , Ionosphere , Plasmasphere , Q-disturbances , Total electron content (TEC)
- Language: English
- Type: text , Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10962/62672 , vital:28228
- Description: Extreme ionospheric and geomagnetic disturbances affect technology adversely. Prestorm enhancements, considered a potential predictor of geomagnetic storms, occur during quiet conditions prior to geomagnetic disturbances. The ionosphere experiences general disturbances during quiet geomagnetic conditions and these Q- disturbances remain unexplored over Africa. This study used TEC data to characterize the morphology of Q-disturbances over Africa, exploring variations with solar cycle, season, time of occurrence and latitude. Observations from 10 African GPS stations in the equatorial and midlatitude regions show that Q-disturbances in the equatorial region are predominantly driven by E x B variations, while multiple mechanisms affect the midlatitude region. Q- disturbances occur more frequently during nighttime than during daytime and no seasonal trend is observed. Midlatitude Q-disturbance mechanisms are explored in depth, considering substorm activity, the plasmaspheric contribution to GPS TEC and plasma transfer between conjugate points. Substorm activity is not a dominant mechanism, although Q-disturbances occurring under elevated substorm conditions tend to have longer duration and larger amplitude than general Q-disturbances. Many observed Q-disturbances become non-significant once the plasmaspheric contribution to the TEC measurements is removed, indicating that these disturbances occur within the plasmasphere, and not the ionosphere. Transfer of plasma between conjugate points does not seem to be a mechanism driving Q-disturbances, as the corresponding nighttime behaviour expected between depletions in the summer hemisphere and enhancements in the winter hemisphere is not observed. Pre-storm enhancements occur infrequently, rendering them a poor predictor of geomagnetic disturbances. Pre-storm enhancement morphology does not differ significantly from general quiet time enhancement morphology, suggesting pre-storms are not a special case of Q-disturbances.
- Full Text:
Malawi’s trilemma: monetary policy independence, exchange rate stability and financial integration
- Authors: Kamamkhudza, Charity
- Date: 2017
- Subjects: Malawi -- Economic conditions , Economic policy -- Malawi , Monetary policy -- Malawi , Foreign exchange rates -- Malawi
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/41634 , vital:25112
- Description: Malawi has, in the last few decades, undergone several reforms relating to monetary, exchange rate and financial integration policies in a bid to achieve sustainable economic growth. Despite these reforms, however, the country has barely attained desirable macroeconomic performance. This study sets out to establish if the need for these policy reforms is due to the fact that the country is constrained from the simultaneous achievement of optimal levels of monetary policy independence, exchange rate stability and financial integration, as postulated by the ‘trilemma’. The trilemma is evaluated using an approach introduced by Aizenman et al. (2008), in which the Ordinary Least Squares (OLS) method is applied to a model in which a constant is regressed on indices constructed for the policy intermediate goals; the results indicate that the trilemma is a binding constraint in Malawi and that the largest trade-off is between exchange rate stability and financial integration. Given these constraints, the study also considers the combination of the trilemma intermediate policy goals that has been dominant in the country in the last three decades, using predicted values from the model and a graphical analysis to explore this objective. The analysis reveals that Malawi has, on average, prioritised exchange rate stability and monetary policy independence at the expense of financial integration. The study also assesses how the trilemma intermediate policy goals affect macroeconomic performance, specifically regarding output growth rate and inflation. The results reveal that exchange rate stability is associated with faster output growth, financial integration is associated with higher inflation, and that monetary policy independence is not a significant factor. The results emphasise the importance of consistent stability of the exchange rate if Malawi is to achieve faster and sustainable economic growth. Given this, policy makers must be cautious, as the current floating exchange rate regime, combined with financial integration, could lead to slow growth and high inflation.
- Full Text:
- Authors: Kamamkhudza, Charity
- Date: 2017
- Subjects: Malawi -- Economic conditions , Economic policy -- Malawi , Monetary policy -- Malawi , Foreign exchange rates -- Malawi
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/41634 , vital:25112
- Description: Malawi has, in the last few decades, undergone several reforms relating to monetary, exchange rate and financial integration policies in a bid to achieve sustainable economic growth. Despite these reforms, however, the country has barely attained desirable macroeconomic performance. This study sets out to establish if the need for these policy reforms is due to the fact that the country is constrained from the simultaneous achievement of optimal levels of monetary policy independence, exchange rate stability and financial integration, as postulated by the ‘trilemma’. The trilemma is evaluated using an approach introduced by Aizenman et al. (2008), in which the Ordinary Least Squares (OLS) method is applied to a model in which a constant is regressed on indices constructed for the policy intermediate goals; the results indicate that the trilemma is a binding constraint in Malawi and that the largest trade-off is between exchange rate stability and financial integration. Given these constraints, the study also considers the combination of the trilemma intermediate policy goals that has been dominant in the country in the last three decades, using predicted values from the model and a graphical analysis to explore this objective. The analysis reveals that Malawi has, on average, prioritised exchange rate stability and monetary policy independence at the expense of financial integration. The study also assesses how the trilemma intermediate policy goals affect macroeconomic performance, specifically regarding output growth rate and inflation. The results reveal that exchange rate stability is associated with faster output growth, financial integration is associated with higher inflation, and that monetary policy independence is not a significant factor. The results emphasise the importance of consistent stability of the exchange rate if Malawi is to achieve faster and sustainable economic growth. Given this, policy makers must be cautious, as the current floating exchange rate regime, combined with financial integration, could lead to slow growth and high inflation.
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Stochastic models in finance
- Authors: Mazengera, Hassan
- Date: 2017
- Subjects: Finance -- Mathematical models , C++ (Computer program language) , GARCH model , Lebesgue-Radon-Nikodym theorems , Radon measures , Stochastic models , Stochastic processes , Stochastic processes -- Computer programs , Martingales (Mathematics) , Pricing -- Mathematical models
- Language: English
- Type: text , Thesis , Masters , MSc
- Identifier: http://hdl.handle.net/10962/162724 , vital:40976
- Description: Stochastic models for pricing financial securities are developed. First, we consider the Black Scholes model, which is a classic example of a complete market model and finally focus on Lévy driven models. Jumps may render the market incomplete and are induced in a model by inclusion of a Poisson process. Lévy driven models are more realistic in modelling of asset price dynamics than the Black Scholes model. Martingales are central in pricing, especially of derivatives and we give them the desired attention in the context of pricing. There are an increasing number of important pricing models where analytical solutions are not available hence computational methods come in handy, see Broadie and Glasserman (1997). It is also important to note that computational methods are also applicable to models with analytical solutions. We computationally value selected stochastic financial models using C++. Computational methods are also used to value or price complex financial instruments such as path dependent derivatives. This pricing procedure is applied in the computational valuation of a stochastic (revenue based) loan contract. Derivatives with simple pay of functions and models with analytical solutions are considered for illustrative purposes. The Black-Scholes P.D.E is complex to solve analytically and finite difference methods are widely used. Explicit finite difference scheme is considered in this thesis for computational valuation of derivatives that are modelled by the Black-Scholes P.D.E. Stochastic modelling of asset prices is important for the valuation of derivatives: Gaussian, exponential and gamma variates are simulated for the valuation purposes.
- Full Text:
- Authors: Mazengera, Hassan
- Date: 2017
- Subjects: Finance -- Mathematical models , C++ (Computer program language) , GARCH model , Lebesgue-Radon-Nikodym theorems , Radon measures , Stochastic models , Stochastic processes , Stochastic processes -- Computer programs , Martingales (Mathematics) , Pricing -- Mathematical models
- Language: English
- Type: text , Thesis , Masters , MSc
- Identifier: http://hdl.handle.net/10962/162724 , vital:40976
- Description: Stochastic models for pricing financial securities are developed. First, we consider the Black Scholes model, which is a classic example of a complete market model and finally focus on Lévy driven models. Jumps may render the market incomplete and are induced in a model by inclusion of a Poisson process. Lévy driven models are more realistic in modelling of asset price dynamics than the Black Scholes model. Martingales are central in pricing, especially of derivatives and we give them the desired attention in the context of pricing. There are an increasing number of important pricing models where analytical solutions are not available hence computational methods come in handy, see Broadie and Glasserman (1997). It is also important to note that computational methods are also applicable to models with analytical solutions. We computationally value selected stochastic financial models using C++. Computational methods are also used to value or price complex financial instruments such as path dependent derivatives. This pricing procedure is applied in the computational valuation of a stochastic (revenue based) loan contract. Derivatives with simple pay of functions and models with analytical solutions are considered for illustrative purposes. The Black-Scholes P.D.E is complex to solve analytically and finite difference methods are widely used. Explicit finite difference scheme is considered in this thesis for computational valuation of derivatives that are modelled by the Black-Scholes P.D.E. Stochastic modelling of asset prices is important for the valuation of derivatives: Gaussian, exponential and gamma variates are simulated for the valuation purposes.
- Full Text:
A quantitative survey of knowledge, attitudes and behaviour, related to AIDS/HIV, among Zulu speaking standard eight high school students
- Authors: Harvey, Brian
- Date: 1997
- Subjects: AIDS (Disease) -- South Africa -- KwaZulu-Natal , AIDS (Disease) -- Social aspects -- South Africa -- KwaZulu-Natal , AIDS (Disease) in adolescence -- South Africa -- KwaZulu-Natal -- Attitudes
- Language: English
- Type: Thesis , Masters , MA
- Identifier: vital:2987 , http://hdl.handle.net/10962/d1002496 , AIDS (Disease) -- South Africa -- KwaZulu-Natal , AIDS (Disease) -- Social aspects -- South Africa -- KwaZulu-Natal , AIDS (Disease) in adolescence -- South Africa -- KwaZulu-Natal -- Attitudes
- Description: AIDS is a serious South African health problem, with HIV infection in KwaZulu-Natal being at the local epidemic's forefront. Adolescents in this province are at additional risk because of their lifestyles. Information on existing risky behaviour and its psychosocial concomitants can provide an important base for educational interventions aimed at reducing further transmission. This study aims to provide baseline information on knowledge, attitudes and reported behaviour, relating to HIV/AIDS, among adolescents in KwaZulu-Natal. A survey, using an anonymous, self-administered questionnaire with closed-ended questions to collect data, was conducted among standard eight Zulu-speaking students (N = 1511) in five parts of the province. The theoretical framework that informed data collection was drawn from the Health Belief Model and Bandura's Social Cognitive Theory. The data generated were first analysed descriptively, providing percentages for responses to individual items. Secondly, cross-tabulations were calculated for relevant items using three independent biographical variables, namely: Locality (rural/peri-urban), gender and students' reports of sexual activity. The results showed inadequate knowledge concerning HIV/AIDS to provide a foundation for developing healthier attitudes. Although most students acknowledged the disease's severity, few reported feeling personally susceptible, denying the immediacy of the threat. Additionally, cues to action and the perceived benefits of adopting preventive behaviours were not influential. Barriers preventing condom use were not primarily logistical, with personal concerns being the main barriers to change. Furthermore, perceived self-efficacy in preventive behaviours was low. Recommendations regarding areas for future research, as well as considerations which will enhance the effectiveness of risk reducing interventions among similar populations, are provided.
- Full Text:
- Authors: Harvey, Brian
- Date: 1997
- Subjects: AIDS (Disease) -- South Africa -- KwaZulu-Natal , AIDS (Disease) -- Social aspects -- South Africa -- KwaZulu-Natal , AIDS (Disease) in adolescence -- South Africa -- KwaZulu-Natal -- Attitudes
- Language: English
- Type: Thesis , Masters , MA
- Identifier: vital:2987 , http://hdl.handle.net/10962/d1002496 , AIDS (Disease) -- South Africa -- KwaZulu-Natal , AIDS (Disease) -- Social aspects -- South Africa -- KwaZulu-Natal , AIDS (Disease) in adolescence -- South Africa -- KwaZulu-Natal -- Attitudes
- Description: AIDS is a serious South African health problem, with HIV infection in KwaZulu-Natal being at the local epidemic's forefront. Adolescents in this province are at additional risk because of their lifestyles. Information on existing risky behaviour and its psychosocial concomitants can provide an important base for educational interventions aimed at reducing further transmission. This study aims to provide baseline information on knowledge, attitudes and reported behaviour, relating to HIV/AIDS, among adolescents in KwaZulu-Natal. A survey, using an anonymous, self-administered questionnaire with closed-ended questions to collect data, was conducted among standard eight Zulu-speaking students (N = 1511) in five parts of the province. The theoretical framework that informed data collection was drawn from the Health Belief Model and Bandura's Social Cognitive Theory. The data generated were first analysed descriptively, providing percentages for responses to individual items. Secondly, cross-tabulations were calculated for relevant items using three independent biographical variables, namely: Locality (rural/peri-urban), gender and students' reports of sexual activity. The results showed inadequate knowledge concerning HIV/AIDS to provide a foundation for developing healthier attitudes. Although most students acknowledged the disease's severity, few reported feeling personally susceptible, denying the immediacy of the threat. Additionally, cues to action and the perceived benefits of adopting preventive behaviours were not influential. Barriers preventing condom use were not primarily logistical, with personal concerns being the main barriers to change. Furthermore, perceived self-efficacy in preventive behaviours was low. Recommendations regarding areas for future research, as well as considerations which will enhance the effectiveness of risk reducing interventions among similar populations, are provided.
- Full Text:
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