A quantitative analysis of the relationship between the 12 components of the Index of Economic Freedom (IEF) and the Human Development Index (HDI) scores within the 16 Southern African Development Community (SADC) nations
- Authors: Peel, Brendon Robert
- Date: 2021-10-29
- Subjects: Southern African Development Community , Quantitative research , Economic development Developing countries , Economic development Africa, Sub-Saharan , Economic development projects Africa, Sub-Saharan , Heritage Foundation (South Africa) , United Nations Development Programme , Index of Economic Freedom (IEF) , Human Development Index (HDI) , Resource Based Theory (RBT)
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10962/191841 , vital:45171
- Description: Nations in Sub-Saharan Africa tend to experience some of the worst levels of human development and economic freedom in the world. Previous research has shown that there is a positive and significant correlation between these two macroeconomic facets. Further research has shown that if nations' policy-makers can manage their resources and capabilities appropriately, then this could improve their economic freedom and human development levels. This study aims to analyse the relationship between the scores of the 12 different components of the Index of Economic Freedom (IEF) and the overall Human Development Index (HDI) scores of Sub-Saharan African nations. The specific selection of nations utilised in the study are the 16 countries that make up the Southern African Development Community (SADC). Based on a review of the literature on human development, economic freedom, and the Resource Based Theory (RBT) on a macro-level, a correlational study was conducted to determine the relationship between the relevant variables. The information was collected from the Heritage Foundation and the United Nations Development Program (UNDP), respectively. The data and scores collected and used in the study are from the years 2015 to 2019. The correlational results demonstrated that nine of the 12 components of the IEF has a positive and significant correlation with HDI within the selected African nations. The strongest correlation being between 'Property Rights' and HDI. Therefore, it is likely that if the property rights within a nation are upheld, said nation would have higher levels of human development. The three components that proved to have an insignificant result with HDI were; 'Tax Burden', 'Government Spending', and 'Fiscal Health'. The results indicate that all components that fall under the category of 'Government Size' share no significant correlational relationship with human development. It is recommended that governments and policy-makers take this into consideration when managing their resources and capabilities to improve the nation's human development. Further research is required to identify the specifics on how this management and allocation of resources can be utilised effectively to improve the human development and economic freedom in Sub-Saharan Africa. , Thesis (MBA) -- Faculty of Commerce, Rhodes Business School, 2021
- Full Text:
- Date Issued: 2021-10-29
- Authors: Peel, Brendon Robert
- Date: 2021-10-29
- Subjects: Southern African Development Community , Quantitative research , Economic development Developing countries , Economic development Africa, Sub-Saharan , Economic development projects Africa, Sub-Saharan , Heritage Foundation (South Africa) , United Nations Development Programme , Index of Economic Freedom (IEF) , Human Development Index (HDI) , Resource Based Theory (RBT)
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10962/191841 , vital:45171
- Description: Nations in Sub-Saharan Africa tend to experience some of the worst levels of human development and economic freedom in the world. Previous research has shown that there is a positive and significant correlation between these two macroeconomic facets. Further research has shown that if nations' policy-makers can manage their resources and capabilities appropriately, then this could improve their economic freedom and human development levels. This study aims to analyse the relationship between the scores of the 12 different components of the Index of Economic Freedom (IEF) and the overall Human Development Index (HDI) scores of Sub-Saharan African nations. The specific selection of nations utilised in the study are the 16 countries that make up the Southern African Development Community (SADC). Based on a review of the literature on human development, economic freedom, and the Resource Based Theory (RBT) on a macro-level, a correlational study was conducted to determine the relationship between the relevant variables. The information was collected from the Heritage Foundation and the United Nations Development Program (UNDP), respectively. The data and scores collected and used in the study are from the years 2015 to 2019. The correlational results demonstrated that nine of the 12 components of the IEF has a positive and significant correlation with HDI within the selected African nations. The strongest correlation being between 'Property Rights' and HDI. Therefore, it is likely that if the property rights within a nation are upheld, said nation would have higher levels of human development. The three components that proved to have an insignificant result with HDI were; 'Tax Burden', 'Government Spending', and 'Fiscal Health'. The results indicate that all components that fall under the category of 'Government Size' share no significant correlational relationship with human development. It is recommended that governments and policy-makers take this into consideration when managing their resources and capabilities to improve the nation's human development. Further research is required to identify the specifics on how this management and allocation of resources can be utilised effectively to improve the human development and economic freedom in Sub-Saharan Africa. , Thesis (MBA) -- Faculty of Commerce, Rhodes Business School, 2021
- Full Text:
- Date Issued: 2021-10-29
Simulating the economic impact emerging from the strategic decision-making of firms: A macroeconomic agent-based model
- Giovannoni, Amalio Dino John
- Authors: Giovannoni, Amalio Dino John
- Date: 2021-10-29
- Subjects: Decision making Economic aspects , Industrial management Decision making , Industrial management Computer simulation , Knowledge economy , Technological unemployment , Economic development Computer simulation , Employees Training of
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10962/191887 , vital:45175
- Description: The key research problem addressed in this project is: how does the strategic decision making of firms affect an economy? While this is a difficult question to answer, insights may be gained through the use of computational techniques such as agent-based modelling (ABM). An agent-based model is developed that simulates micro-level economic interactions between individuals and _rms in different markets, resulting in emergent macro-level features. Technological progress is an important determinant of economic growth and has been decomposed into two complementary factors: knowledge and technological sophistication. The model is used to explore the long-term, macroeconomic consequences of _rms investing more heavily in knowledge development. The simulations show that a shift towards a knowledge-based economy (KBE) has an insignificant impact on GDP over the long-term. However, the shift does produce a significant increase in unemployment. The higher unemployment is shown to be particularly high for the unskilled sectors of the population. It is therefore paramount that companies embark on skills development, training and educational initiatives when following a path of technological and knowledge innovation. A transformation of the education system to one that is inclusive, focused on quality, adaptive, encourages creativity, aligned with the needs of industry, and stimulates R&D is crucial. Without a coordinated strategy between industry, academia, and government in attempts to achieve a KBE, economic growth may be constrained, while the levels of unemployment, inequality and poverty may deteriorate. , Thesis (MBA) -- Faculty of Commerce, Rhodes Business School, 2021
- Full Text:
- Date Issued: 2021-10-29
- Authors: Giovannoni, Amalio Dino John
- Date: 2021-10-29
- Subjects: Decision making Economic aspects , Industrial management Decision making , Industrial management Computer simulation , Knowledge economy , Technological unemployment , Economic development Computer simulation , Employees Training of
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10962/191887 , vital:45175
- Description: The key research problem addressed in this project is: how does the strategic decision making of firms affect an economy? While this is a difficult question to answer, insights may be gained through the use of computational techniques such as agent-based modelling (ABM). An agent-based model is developed that simulates micro-level economic interactions between individuals and _rms in different markets, resulting in emergent macro-level features. Technological progress is an important determinant of economic growth and has been decomposed into two complementary factors: knowledge and technological sophistication. The model is used to explore the long-term, macroeconomic consequences of _rms investing more heavily in knowledge development. The simulations show that a shift towards a knowledge-based economy (KBE) has an insignificant impact on GDP over the long-term. However, the shift does produce a significant increase in unemployment. The higher unemployment is shown to be particularly high for the unskilled sectors of the population. It is therefore paramount that companies embark on skills development, training and educational initiatives when following a path of technological and knowledge innovation. A transformation of the education system to one that is inclusive, focused on quality, adaptive, encourages creativity, aligned with the needs of industry, and stimulates R&D is crucial. Without a coordinated strategy between industry, academia, and government in attempts to achieve a KBE, economic growth may be constrained, while the levels of unemployment, inequality and poverty may deteriorate. , Thesis (MBA) -- Faculty of Commerce, Rhodes Business School, 2021
- Full Text:
- Date Issued: 2021-10-29
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