3. Electronic Theses and Dissertations (ETDs) - All submissions
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Item A crosscountry study of asymmetric preference: the case of Inflation and employment targeting(2018) Mohlakoane, RamilaneItem The International Monetary Fund interventions in Greece post the 2008 global economic crises(2018) Dakile, Dumisani AndriasThe 2008 global economic crises which originated in the United States of America had a devastating effect to the international community. The International Monetary Fund played a significant role as the Global Development Finance Institutions during the 2008 global economic crises. The purpose of this research is to understand how the IMF intervened in Greece because of the 2008 global economic crises and how such interventions affected the working class and the poor. The researcher adopted a qualitative research methodology, undertook interviews and used questionnaires to experts, academics, trade unionist, embassy representative knowledgeable on the 2008 economic crises and the IMF role in the Greece crises. The researcher also reviewed various documents and reports as a further resource to comprehend, gain more sight and to obtain pertinent and appropriate data on the subject matter. The researcher utilized uniform questions for all the participants across. The research has established the role that was played by the IMF in the Greece crises which has been very controversial, why Greece it continues to be in economic crises and what should be done differently to resolve the Greece crises. It has established how the working class and the poor had been affected the IMF intervention in Greece and lastly it has proposed measures which need to be undertaken by the Greece to resolve the crises.Item Oil price shocks, oil and the stock market volatility relationship of Africa's emerging and frontier markets(2017) Molepo, MakgalemeleThe study examined the relationship between oil price shocks, volatilities and stock indices in the African emerging markets. The ARDL and Bivariate BEKK GARCH models are used in this study. The countries examined are Botswana, Egypt, Mauritius, Morocco, Namibia, Nigeria, South Africa, Tanzania, Kenya, Ghana, Tunisia, and the MSCI’s World Index. The study shows a bidirectional relationship between oil price shocks for Nigeria and the MSCI, but unidirectional flow from oil price shocks to Botswana, Egypt, Mauritius, Morocco, Namibia, South Africa, Tanzania, Kenya, Ghana, and Tunisia. In addition, there is evidence of unidirectional volatility spill over from oil returns to Botswana, Namibia, Tanzania, Mauritius and Kenyan, Nigeria, Tanzania, Kenya and Ghana. Finally, the study found bidirectional volatility between oil and index returns in MSCI, South Africa, and Tunisia.Item Potential downside effects of Basel III : lessons from previous Accords.(2014-09-16) Wood, ChristopherThe Basel III accord is the cornerstone of global financial reform efforts that seek to guard against the types of financial crisis seen in 2007/8. It requires banks to fund more of their activities with better-quality capital and, in so doing, attempts to assure that they are better able to absorb shocks that can lead to crises. However, capital requirements come with a range of costs, which could spark a slowdown in credit or a change in the types of lending banks engage in. This paper conducts a comprehensive literature review of theoretical and empirical studies of the impacts of previous Accords, Basel I and Basel II, and attempts to draw lessons on possible downside effects of the latest iteration of the Basel Accord. It proceeds in three parts. Part 1 explores the history of the Basel Accords, exploring their theoretical basis and the evolution of the regulation into its current form. This section identifies two possible mechanisms by which capital regulation can negatively impact the broader economy: increasing capital costs and increasing risk aversion. Part 2 explores the potential for increased capital cost, while Part 3 examines the possibility of excessive risk aversion. In conclusion, the paper finds that while the potential for downside effects does exist, these are not likely to be significant, and seem particularly unlikely to have a major impact in the South African case.Item Item Financial contagion in African emerging economies(2013-08-01) Ahwireng-Obeng, Asabea ShirleyCannot copy abstractItem Early warning systems for economic crises in South Africa.(2013-05-15) Ramos, Nicole Diana; ;This paper develops a series of Early Warning System models for debt crises. This paper uses a Debt Pressure index to define crisis periods and then demonstrates how one can go about trying to forecast these periods using Logit and Markov-switching Models. An alternative approach, whereby ordinary least squares (OLS) is used to create Early Warning System models, is introduced. A graphical analysis is also conducted. Three useful Early Warning System models emerge from this study.Item The global financial crisis dissection(2012-10-04) Li, YijunA financial crisis is consisted by a major event or a series of events. Event analysis can be used to analyse the causes of the financial crisis. In this paper, we use the Bear Stearns event and the Lehman Brothers event to analyse the causes of the Global Financial Crisis, find the weakness of our financial system and therefore, we suggest remedy the regulatory shortcomings and intensify the international cooperation within central banks and international financial organisations.