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Purpose: The 2030 Agenda and the sustainable development goals (SDG) have gained considerable attention in research and public debate. This calls for accounting research on the subject of SDG disclosure. Based on this premise, this paper aims to evaluate and analyze the extent of SDG reporting by 80 listed firms from 8 selected African countries for the period of 2016 to 2018. Design/methodology/approach: The study adopts a content analysis and survey method to evaluate the extent of SDG reporting by the selected African countries. This paper conducted content analysis through the use of the PricewaterhouseCoopers (PwC) framework and Global Reporting Initiative (GRI) framework to gauge the extent of firms' compliance with SDG reporting. Also, this paper uses the business reporting indicators for each SDG developed by GRI to determine the compliance level of the selected firms regarding SDG reporting. The survey was targeted at the big four audit firms (PwC, KPMG, Ernst and Young and Deloitte and Touche). Findings: The evaluation of SDG disclosure by the 80 listed firms in Africa is still at a very low level except for South African firms. Also, the findings of the business reporting indicators for each SDG target show that most of the firms show little or no concern to report on SDG activities. The result of the research survey indicates that voluntary disclosure, lack of management commitment, lack of regulatory enforcement and cost implications account for low SDG disclosure by the selected African firms. Research limitations/implications: This study fails to consider the qualitative research approach in determining the extent of SDG disclosure in Africa, as the study did not allow respondents to freely express their opinion on SDG disclosure, as a large part of the survey used close-ended questionnaires. Practical implications: This study's findings call for clear responsibility and a strong drive for SDG performance from corporate institutions in Africa. While the overall responsibility rests on the government, the actualization of SDG cannot be achieved without support from corporate organizations. The empirical approach used in this study emphasizes the need for corporate organizations to embrace sustainable practices and to integrate SDG information into their reporting cycle. Originality/value: This study contributes to growing literature in the area of corporate reporting, sustainability reporting and SDG research in Africa and other emerging economies. Also, this study provides original insight into the contribution of accounting research toward the achievement of SDG. [ABSTRACT FROM AUTHOR]

The Belt and Road Initiative (BRI) is a massive Chinese state/capitalist programme of transnational infrastructure construction initiated in 2013. Between 2013 and 2016, Chinese banks extended hundreds of billions of dollars –principally across Asia, but also Europe and Africa – for transportation and energy networks. Recently released statistics, however, suggest that project lending for the BRI collapsed from 2016 onwards. Our paper examines the reasons for this contraction through a case-study of the BRI in Africa. We contend that the lending contraction resulted from political and economic contradictions generated by this form of international interconnection, including the types of debt traps it helped create. This outcome is explained partly by the fact that the BRI is simultaneously a geopolitical and geoeconomic project. Whereas the balance of economic risks is arguably skewed against borrowers (in some cases leading to debt traps), from a geopolitical perspective, the Chinese state also seeks to expand influence in Africa and elsewhere in the developing world. This creates counter-pressure on further expansion of such financing, which, complemented by domestic economic implications of loan failure, helps to explain the contraction. [ABSTRACT FROM AUTHOR]

Relying on complex interdependence as a theoretical approach, this paper investigates the hypothetical damage that the U.S. withdrawal from the Paris Agreement could represent for Africa in terms of climate finance. In June 2017, President Donald Trump publicly declared the U.S. intention to withdraw from further participating in the multilateral Paris Agreement. To keen followers and analysts of the U.S. climate policy beyond its borders, such unilateral action was never a surprise. Rather, it is nostalgic of the experience of the Kyoto Protocol, particularly how more or less similar move unduly prolonged the global climate negotiations up till late 2015 when the Paris Agreement came about. Although the Paris Agreement is remarkable as it represents the first states-wide climate deal, it however left a number of issues unresolved. Notable among which is climate finance which has remained the most contentious and of critical concern to developing countries, particularly in Africa. Pitted against the fact that Africa contributes less to climate change and, ironically, the hardest-hit by the phenomenon, the U.S. withdrawal from the Paris Agreement aggravates concerns around climate finance and, indeed, portends additional burdens for a continent that is still struggling to cope with the untoward fallout of climate change. [ABSTRACT FROM AUTHOR]

Financial sanctions are often thought of as the “soft alternative” to armed conflict and are widely used in the 21st century. Nonetheless, sanctions are often criticized for being non-specific in their action, and having impact beyond their intended remit. One often-overlooked area affected by sanctions are academic systems of research and education. Sanctions place “invisible barriers” for research in these countries by limiting access to necessary resources and curtailing their effective use. In this paper we present a national survey of Sudanese academics focused on the impact of 20 years of economic sanctions on their work. It identifies key areas of academic research and education that have been impacted by international sanctions. Moreover, these data highlight how the impact of sanctions on academia is likely to persist long after they are formally lifted. The paper concludes by problematising the current interpretation of jus post bellum, or moral behaviour after conflict. It suggests that the responsibility to make reparations in the form of support for academic systems applies to countries who impose economic sanctions. [ABSTRACT FROM AUTHOR]

Copyright of Management international / International Management / Gestiòn Internacional is the property of Management International and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

• Discretionary or ex gratia payouts are widespread in parametric insurance programs. • Payouts attempt to secure social license to operate despite contractual basis risk. • Discretionary payouts obscure and entrench insurers' market power. • Attempts at conciliation often stoke further demands from aggrieved collectivities. • Geospatial monitoring alone cannot resolve questions of post-disaster distribution. The past decade has seen the dramatic proliferation of geospatial tools to remotely monitor, measure, and transfer weather and climate risk, particularly in the Global South. These "parametric" tools are calculative market devices used to commodify risk and facilitate its distantiated exchange via insurance markets. Yet the environmental estimates they generate are frequently wrong, sometimes grossly so. This paper investigates what happens after calculative market devices fail, analyzing so-called ex gratia ("from grace") practices in which insurers make payouts to aggrieved clients even when none are due under contractual terms. Though these payments are commonly deployed to dispel discontent, these "public secrets" of the industry have gone unnoticed in insurance scholarship. This paper documents numerous ex gratia payouts in parametric programs across Africa, disputing the myth of autonomous insurance markets that function according to formal, transparent rules administered by dispassionate calculative devices. Instead, these "discretionary" monetary transfers reintroduce human decision making in informal, black-boxed ways, cloaking the inadequacy of the parametric contracts they shore up. Far from incidental, I argue that these practices have been constitutive of the parametric insurance market's persistence and expansion. Though ex gratia payments sometimes give rise to negotiations over indemnification with aggrieved collectivities, these unfold on insurers' terms, informalizing power and delegitimizing complaint. The growing emphasis on parametric insurance as a tool for climate adaptation makes it all the more important to excavate the mechanics and politics of ex gratia, and to relinquish expectations that geospatial algorithms alone can resolve questions of post-disaster redistribution. [ABSTRACT FROM AUTHOR]

Copyright of African Development Review / Revue Africaine de Développement is the property of Wiley-Blackwell and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper provides econometric evidence linking African countries’ per capita total as well as government health expenditures and per capita income to two health outcomes: infant mortality and under-five mortality. This relationship is examined using data from 47 African countries between 1999 and 2004. Health expenditures have a statistically significant negative effect on infant and under-five mortality rates. The magnitude of our elasticity estimates are in consonance to those reported in the literature. For African countries, our results imply that total health expenditures (as well as the public component) are certainly important contributors to health outcomes. In addition, we find that both infant and under-five mortality are positively and significantly associated with sub-Saharan Africa. The reverse is true for North Africa. While ethnolinguistic fractionalization and HIV prevalence positively and significantly affect the health outcomes, higher numbers of physicians and female literacy significantly reduce these health outcomes. These results have important implications for attaining the targets envisioned by the Millennium Development Goals. The data implications are also discussed. [ABSTRACT FROM AUTHOR]

Ghana has made significant stride towards universal health coverage (UHC) by implementing the National Health Insurance Scheme (NHIS) in 2003. This paper investigates the progress of UHC indicators in Ghana from 1995 to 2015 and makes future predictions up to 2030 to assess the probability of achieving UHC targets. National representative surveys of Ghana were used to assess health service coverage and financial risk protection. The analyses estimated the coverage of 13 prevention and four treatment service indicators at the national level and across wealth quintiles. In addition, we calculated catastrophic health payments and impoverishment to assess financial hardship and used a Bayesian regression model to estimate trends and future projections as well as the probabilities of achieving UHC targets by 2030. Wealth-based inequalities and regional disparities were also assessed. At the national level, 14 out of the 17 health service indicators are projected to reach the target of 80% coverage by 2030. Across wealth quintiles, inequalities were observed amongst most indicators with richer groups obtaining more coverage than their poorer counterparts. Subnational analysis revealed while all regions will achieve the 80% coverage target with high probabilities for the prevention services, the same cannot be applied to the treatment services. In 2015, the proportion of households that suffered catastrophic health payments and impoverishment at a threshold of 25% non-food expenditure were 1.9% (95%CrI: 0.9–3.5) and 0.4% (95%CrI: 0.2–0.8), respectively. These are projected to reduce to 0.4% (95% CrI: 0.1–1.3) and 0.2% (0.0–0.5) respectively by 2030. Inequality measures and subnational assessment revealed that catastrophic expenditure experienced by wealth quintiles and regions are not equal. Significant improvements were seen in both health service coverage and financial risk protection over the years. However, inequalities across wealth quintiles and regions continue to be cause of concerns. Further efforts are needed to narrow these gaps. [ABSTRACT FROM AUTHOR]

Abstract African countries are in a unique position to reap the socio-economic and environmental benefits of renewable resources as a means for meeting increasing energy demand in a sustainable way. A critical obstacle for the deployment of renewable energy technologies in Africa is the difficulty of attracting sufficient and affordable finance. This paper compares the impact of financial conditions on the cost of electricity generation across six renewable and three fossil-based technologies in 46 African countries. The results show large cost variations and highlight the extent to which renewables are disadvantaged by current financial practices. The energy-economy-environment model TIAM-ECN is used to show how lowering financing costs results in a much higher deployment of renewables. For example, solar PV could account for 10–15% of total electricity generation by 2050, even without explicit climate policy, thanks to financial de-risking programmes. The results demonstrate that changes in financing schemes could outweigh the impact of technology learning. This paper also demonstrates that, once ambitious climate policies are in place, reducing financing costs for renewables could be an efficient way to lower greenhouse gas emissions. Financial de-risking is thus a key ingredient for unlocking the renewable energy potential in Africa. Highlights • We show how renewables are disadvantaged by today's financial practices in Africa. • We show how lower financing costs result in a higher deployment of renewables. • PV can account for 10–15% of electricity generation by 2050 without climate policy. • Changes in financing schemes could outweigh the impact of technology learning. • Financial de-risking is key for unlocking the renewable energy potential in Africa. [ABSTRACT FROM AUTHOR]

This paper responds to Vanessa Watson’s article on the inappropriate urban development plans that are increasingly common in sub-Saharan Africa as governments seek to make their cities “world class”. It describes how the government of Angola has been able to use financing from Chinese credit facilities to build prestige projects that include support for the public-privately developed Kilamba city with 20,000 apartments. The apartments were initially too expensive for most of the population, and the state has had to draw further funds from its housing budget for a subsidized rent-to-purchase scheme to make the units affordable for middle-level civil servants. The author argues that an opportunity is being missed to use today’s income from high-priced natural resources and the current easy access to Chinese credit lines and technical expertise to address the very large backlogs in urban upgrading of basic service infrastructure and housing for the poor. The paper also reflects on a previous post-independence period when a number of African new cities were built, leaving some countries with decades of debt and stagnant development. Can errors from the past offer lessons for future African urban development? [ABSTRACT FROM PUBLISHER]

Copyright of Problems of Sustainable Development / Problemy Ekorozwoju is the property of Faculty of Environmental Engineering and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Purpose The study aims to examine the importance of access to finance in firm innovation by using firm-level data from the World Bank enterprise survey (WBES) on selected African countries.Design/methodology/approach This study utilises firm-level data from the WBES database and computes aggregate innovation index by using multiple correspondent analysis. The authors then apply instrumental variable models (to control for possible endogeneity between innovation and finance) to assess the link between finance and innovation.Findings The research finds that finance in the form of overdraft overwhelmingly drives innovation in all selected countries – Cameroon, Kenya, Morocco, Nigeria and South Africa. Trade credit enhances innovation among firms in Nigeria, South Africa and Cameroon, while asset finance drives innovation amongst firms in Cameroon, Nigeria and South Africa.Practical implications Policy incentives such as tax breaks could be put in place for financial intermediaries that have shown proof of extending loans to financially constraint firms to enable them to innovate. Furthermore, different financial institutions such as microfinance institutions can be supported to increase credit to enterprises. Partnerships with organisations willing to fund firms and support start-ups should be encouraged. One of such support mechanisms could be specialised schemes such as a credit guarantee scheme to encourage and secure lending to enterprises to promote innovation.Originality/value This paper provides empirical insights into how finance enhances innovation in African enterprises. It also shows how different finance structures (overdraft, asset finance and trade credit) affect firm innovation in different African countries. [ABSTRACT FROM AUTHOR]

This paper examines the private equity investment landscape in African land and agriculture markets by exploring two underlying questions: (1) Within the global land grab trend, how is power manifested for private equity investors? and (2) What are the development implications of private equity-backed investments? The essay begins with an overview of the recent rise of private equity in African land markets. It then analyzes the power relations embedded in this trend, particularly exploring the issues of information asymmetry and ‘creative destruction’ inherent in private equity finance, and their implications for governance and labour. Finally, the paper examines the power dynamics that characterize the relatively new relationship between private equity groups and development finance. Drawing on several illustrations of the World Bank Group's involvement in private equity-backed land investments, this paper demonstrates how the overlapping interests between development finance and private equity groups, in part, explain private equity's presence in emerging farmland markets. [ABSTRACT FROM PUBLISHER]

China's official aid programme is non‐transparent and poorly understood. The paper compares development finance from China and the Organization for Economic Co‐operation Development (OECD) generally and through the examination of two cases of Chinese development cooperation in Africa. These cases illustrate a major argument of the paper: that the lion's share of China's officially supported finance is not actually official development assistance (ODA). China does provide finance that meets the definition of ODA, but this is relatively small. Export credits, non‐concessional state loans or aid used to foster Chinese investment do not fall into the category of ODA. China's cooperation may be developmental, but it is not primarily based on official development aid. This suggests that the institutions established at the OECD to develop and apply standards for foreign aid (the Development Assistance Committee) may not be the right ones to govern these growing ties. Copyright © 2011 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

The paper uses different measures of financial sector development (FSD) for a dynamic heterogeneous panel of 17 African countries to examine the impact of FSD on private savings. An innovative econometric methodology is also employed related to a series of cointegration tests within a panel. This is an important contribution, since traditional panel data analysis adopted in previous studies suffers from serious heterogeneity bias problems. The empirical results obtained vary considerably among countries in the panel, thus highlighting the importance of using different measures of FSD rather than a single indicator. The evidence is rather inconclusive, although in most of the countries in the sample, a positive relationship between FSD and private savings seems to hold. The empirical analysis also suggests that a change in government savings is offset by an opposite change in private savings in most of the countries in the panel, thus confirming the Ricardian equivalence hypothesis. Liquidity constraints do not seem to play a vital role in most of the African countries in the group, since the relevant coefficient is negative and significant in only a small group of countries. [ABSTRACT FROM AUTHOR]

Purpose - The purpose of this paper is to determine the current state of financial support of African university libraries, and explore non-traditional methods of providing funding for them. Design/methodology/approach - The paper takes a comparative look at the funding pattern of library and information services in Africa, particularly academic libraries, over the past two decades. Findings - The paper finds that the national governments, the main financial providers, are usually held liable for the continuing inadequacy of the financial support and are, therefore, seen as having ignored their financial responsibility toward libraries. This financial neglect negatively impacts the quality of services provided by the university libraries and, consequently, the quality of teaching and research programs at the universities served by them. Originality/value - As a possible way of breaking away from the complete and absolute reliance on government funding which has proved to be unreliable, alternative ways of funding are suggested. These include information consultancy and brokerage services and other income-generating activities. [ABSTRACT FROM AUTHOR]

In recent months, the World Bank has issued a series of draft policy reports on land relations. This is the first time in over two decades that the Bank has sought to review its policy on lending in the land sector. Access to the draft reports and participation in the consultation process has, however, been severely limited. Nonetheless, the World Bank expects to issue the final Report by the end of this year. This paper presents a gender analysis of the two draft documents that have been made available to date. It assesses their implications for gender relations in Africa. It explores the World Bank's promotion of formal rural credit and challenges the assumption of the availability of women's unpaid agricultural labour. The paper argues that, far from being over, the struggle over land relations which has characterised the last decade in Africa, must continue. [ABSTRACT FROM AUTHOR]

Africa represents a continent of almost infinite tourism potential and yet it lags far behind the rest of the world as a tourist opportunity. There are clearly pockets of excellence, countries that have, and are achieving significant tourism outcomes. However, these are the minority -what of the remainder? In this paper a single regional coupling is proposed between two countries that appear on the surface to be ill matched. Closer inspection reveals that the senior partner in capitalizing on tourism development, Kenya, is in need of revitalization whilst the junior partner, Ethiopia, has great potential that is yet to be capitalized on. They share a significant geographical feature-the Rift Valley-and both have substantial assets in terms of flora and fauna. Ethiopia, regarded as the cradle of human origin, has substantial historical attractions, exemplified by the Historic Route. In this paper, elements of the need for, and, benefits of collaboration are outlined. This modest approach to regionalism in terms of tourism, could become, if successful, a model for other regional activities in the continent. Africa and specifically sub-Saharan Africa represents a range of exciting tourism opportunities by many standards. In terms of product, whether it is the flora or fauna, or locations, it would appear to be a tourism marketer's dream. Unfortunately its true potential in terms of tourism has not been realized. At tourism conference after tourism conference, this part of the world is seen to be the “Orphan Annie” of tourism. This situation is reflected in the majority of comparative tourism statistics. Whilst numerous authors have identified reasons for this, solutions are more difficult to develop. In this paper, the concept of regionalism as a possible solution is developed in terms of two adjoining sub-Saharan countries, Kenya and Ethiopia. [ABSTRACT FROM PUBLISHER]

Background: The Global Forum 2015 panel session dialogue entitled "From evidence to policy - thinking outside the box" was held on 26 August 2015 in the Philippines to debate why evidence was not fully translated into policy and practice and what could be done to increase its uptake. This paper reports the reasons and possible actions for increasing the uptake of evidence, and highlights the actions partners could take to increase the use of evidence in the African Region.Discussion: The Global Forum 2015 debate attributed African Region's low uptake of evidence to the big gap in incentives and interests between research for health researchers and public health policy-makers; limited appreciation on the side of researchers that public health decisions are based on multiple and complex considerations; perception among users that research evidence is not relevant to local contexts; absence of knowledge translation platforms; sub-optimal collaboration and engagement between industry and research institutions; lack of involvement of civil society organizations; lack of engagement of communities in the research process; failure to engage the media; limited awareness and debate in national and local parliaments on the importance of investing in research and innovation; and dearth of research and innovation parks in the African Region.Conclusion: The actions needed in the Region to increase the uptake of evidence in policy and practice include strengthening NHRS governance; bridging the motivation gap between researchers and health policy-makers; restoring trust between researchers and decision-makers; ensuring close and continuous intellectual intercourse among researchers, ministry of health policy-makers and technocrats during the life course of research projects or programmes; proactive collaboration between academia and industry; regular briefings of civil society, media, relevant parliamentary committees and development partners; development of vibrant knowledge translation platforms; development of action plans for implementing research recommendations, preferably in the context of the Sustainable Development Goals; and encouragement of competition on NHRS strengthening and research output and uptake among the countries using a barometer or scorecard to review their performance at various regional ministerial forums and taking into account the lessons learned from the MDG period. [ABSTRACT FROM AUTHOR]

This paper highlights the challenges and limitations faced by scholarly presses in South Africa, presenting the business and operational changes required (both individually and collectively) to meet overarching political and competitive pressures. The direct competition of international commercial publishers, a disconnect between national research imperatives and the business model of scholarly presses, and the lack of support for university presses, have perpetuated the knowledge gap between publishing in the 'north' and the 'global south'. Direct engagement with institutions and the state is necessary, as is a robust and confident approach to technology and services, while clarifying and articulating specific needs and aspirations. [ABSTRACT FROM AUTHOR]

In the past decade inclusive growth, that is job-rich growth, has topped the policy agenda in developing countries. This paper investigates how the access to finance affects employment in small and medium-sized enterprises (SMEs) in Sub-Saharan Africa. It first presents a model where firm creation requires entrepreneurial search and paying the start-up costs, while the firm's size in terms of employment depends on the access to credit. Under the financial market imperfections, access to credit can be a binding constraint on firm entry and employment even when the banks have sufficient liquidity. Using an impact evaluation-based approach on firm-level data from 42 African countries, we show that SMEs with access to formal financing create more jobs than firms without access, with employment in firms having access to more affordable and larger loans growing the fastest. The impact of access to finance is stronger for firms in manufacturing than in services, pointing to sectoral targeting of finance as a possible policy supporting industrialization. [ABSTRACT FROM AUTHOR]

The term "financial inclusion" implies access and use of banking services (current account, savings account, insurance, credit, payments, etc.) at a low cost for the disadvantaged and low-income population in a country. In fact, banking services constitute a public good. It is therefore necessary that the accessibility and equitable use of banking services by the entire population should be among the primary objectives of government policies and financial institutions. Indeed, this helps to meet the basic financial needs of the population in any given country. The main objective of our study is therefore to examine the determinants of current account holding, which is considered to be a basic dimension of the use of banking services and therefore of financial inclusion. In our paper, we adopt an empirical approach using cross-sectional data to analyze the determinants of current account holding in the African continent. [ABSTRACT FROM AUTHOR]

The article focuses on the institutional and capacity barriers in accessing climate finance in Africa. It notes the success of the Clean Development Mechanism (CDM) in generating emissions reduction projects in various developing countries. However, it also mentions the proposed amendment of the program to improve its applicability in the country, and generate additional revenue to effectively implement climate change mitigation measures.

The quest for urgent solution to resolve the world liquidity problem has continued to generate enthusiastic debates among political economists, policy makers and the academia. The argument has focused on whether the World Bank Group was established to enhance the stability of international financial system or meant to enrich the developed nations. This study argues that the existing political interest of the World Bank Group in Africa may serve as lesson learned to other ambitious African Monetary Union. [ABSTRACT FROM AUTHOR]

The global financial economic crises of 2007-08 were the most serious of the previous series of similar cataclysmic events that exposed the deficiencies in the global neoliberal capitalism. Perversion of neoliberal literature by dogmatism, fragmented disciplinary myopia, instead of plural approaches hampers understanding of neoliberalism's multidimensional characteristics, thereby allowing it to wreck serial havoc globally. In this paper, we show how the global North has used neoliberalism to contrive multiple crises that hamper Africa's sustainable development beyond previous traumas: unequal trade, trans- Atlantic slavery, and colonialism; present neoliberal perspectives, globalisation-hegemonisation; and, show how neoliberalism's autonomisation, self-referencing, disembedding of finance, its rejection of Keynesian and Marxist principles of hierarchy of (multiple) markets make it asocial, crisis (e.g., unemployment)-prone in Africa and developing countries. The Africa Union presents a platform for Africa to resuscitate Pan-Africanism, joining of the global South's movement towards socialism as a means of delinking her economy from insidious neoliberal-capitalism, accelerating local job creation, reversing scandalous emigration of her youth to subsidise the global North's economies. [ABSTRACT FROM AUTHOR]

This paper seeks to empirically explore the causal link between the level of financial development and economic growth in 13 sub-Saharan African countries. The empirical investigation is carried out in a vector autoregression(VAR) framework based on the theory of cointegration and error-correction representation of cointegrated variables. The results of the cointegration analysis provide evidence of the existence of a long-run relationship between financial development and economic growth in almost all(12 out of 13) of the countries. With respect to the direction of long-term causality, the results show that financial development plays a causal role on economic growth, again in eight of the countries. At the same time, evidence of bidirectional causal relationships is found in six countries. The findings imply that African countries can accelerate their economic growth by improving their financial systems. [ABSTRACT FROM AUTHOR]

In this paper we assess the implications of the World Trade Organisation (WTO) and the General Agreement on Trade in Services (GATS) for the banking sector in African signatory countries. With emphasis on the free trade element, we first review the relevant provisions of the GATS for banking services and the main exemptions held by African countries. We then analyse the main efficiency indicators for a sample of the top banks in 18 African economies for the period 1997-1998. We also use univariate statistics to analyse the dispersion of the key bank pricing and liquidity indicators in these economies for the period 1994-1998. The main findings imply that although full liberalization, implicit in the WTO and GATS protocols, will lead to a substantial shake-up of the African banking industry. However, provided they have an appropriate regulatory framework and allow sufficient lead time, most African countries have little to fear from liberalization at least in terms of the continuing existence of a locally owned banking industry; and indeed, these countries could reasonably expect to be able to restructure and compete, at the very least in African-wide or regional markets. [ABSTRACT FROM AUTHOR]

The paper provides evidence on the number and volume of financial transactions undertaken by agents (local businesses that double as more convenient, lower cost alternatives to formal branches) of the largest microfinance institution operating in the Democratic Republic of Congo (DRC). To our knowledge, this is the first econometric study of the activities of agents in a country as underdeveloped as the DRC. More important than agents’ personal characteristics, transactions are higher in low income, densely populated areas with high levels of commercial development, suggesting that the agent network has been best at supporting financial transactions among the urban poor. In addition, branding and effective liquidity management are strongly linked to agent activity. The results suggest that agents can be effective providers of basic financial services among the urban poor who lack suitable alternatives. But it remains to be seen how the agent banking model will play out in less densely populated areas of the DRC and other developing countries. [ABSTRACT FROM AUTHOR]

This paper examines empirical evidence for 11 sub-Saharan African countries on the relationship between economic growth and three principal sources of investment funds: foreign aid, foreign direct investment, and domestic saving. In light of the shortcomings of traditional cross-section analyses, the time series approach is used instead. Modern time series methods are rigorously applied, beginning with unit root tests and followed by model specifications that reflect the revealed temporal behaviours of the variables in each of the 11 countries. Domestic saving seems to play a somewhat more important role in generating economic growth than foreign direct investment or foreign aid. However, the mixture of results across the 11 countries implies that, in general, it is not possible to rank one source of investment financing ahead of any other. [ABSTRACT FROM AUTHOR]

This study aims at examining the debt threshold effects on economic growth in Africa. Non-dynamic and dynamic panel threshold regression approaches are used. The findings indicate that the estimated debt threshold is sensitive to the estimation technique used and to growth control variables included in the estimation. Existence of nonlinearities in the debt-growth nexus cannot be denied. The findings show that while low debt is neutral or growth-enhancing, high debt is consistently detrimental to growth for all the cases considered. This study shows that caution is needed when suggesting a debt threshold since this can be sensitive to modelling choice and to growth control variables. Nonlinearities in the debt-growth nexus are established but further analysis is needed to suggest a policy. [ABSTRACT FROM AUTHOR]

The article comments on the book "African External Finance in the 1990s," edited by Ishrat Husain and John Underwood. Thirteen papers, plus comments, summarize a research project initiated by the World Bank to assess the likely availability of external financial resources needed to achieve significant economic growth in sub-Saharan Africa and provide an empirical basis of the long-term financial planning that successful reform and development require.

This paper assesses if legal origin explains domestic, foreign, private and public investments through financial intermediary channels of depth, efficiency, activity and size. The findings show that legal origin matters in the finance-investment nexus, though its ability to explain aggregate investment dynamics only through financial intermediary channels is limited in the cases of private and public investments. [ABSTRACT FROM AUTHOR]

This article examines three relevant hypotheses on the effect of health worker migration on human development and economic prosperity (at the macro- and micro-levels) in Africa. Owing to the lack of relevant data on health human resource (HHR) migration for the continent, the subject matter has remained empirically void over the last decades despite the acute concern about health professional emigration. Using quantile regression, the following findings have been established. (1) The effect of HHR emigration is positive (negative) at low (high) levels of economic growth. (2) HHR emigration improves (mitigates) human development (GDP per capita growth) in low (high) quantiles of the distribution. (3) Specific differences in effects are found in top quantiles of human development and low quantiles of GDP per capita growth where the physician (nurse) emigration elasticities of development are positive (negative) and negative (positive), respectively. As a policy implication, blanket health-worker emigration control policies are unlikely to succeed across countries with different levels of human development and economic prosperity. Hence, the policies should be contingent on the prevailing levels of development and tailored differently across the most and least developed African countries. [ABSTRACT FROM AUTHOR]

Promoting access to modern energy forms in developing countries to replace traditional fuels is high on the political agenda. This paper describes the development and application of a global model for rural electrification. The model is used to assess future trends in electrification, and the associated investment needs. The model is applied for a set of electrification scenarios. We find that the trend in increasing electrification differs considerably among world regions: in Latin America and Asia access to electricity takes place at lower income levels than in Africa. Under business-as-usual developments, universal access to electricity is not reached by 2030 in Latin America, Asia or sub-Saharan Africa. Investments per household depend strongly on population density, implying relatively low costs in most Asian subregions. Global cumulative investments to reach universal access to electricity by 2030 amount 477–868 billion USD2005, which would be 238–400 billion additional to business-as-usual (or 12–20 billion USD2005 per year). The potential for mini-grid and off-grid technologies is expected to be high in Latin America and sub-Saharan Africa, and lower in Asia. This is a result of high costs of grid electrification at low population densities in large parts of rural Africa and Latin America. [Copyright &y& Elsevier]

This paper offers an analysis of the costs and the financing of HIV/AIDS programs for countries in sub-Saharan Africa. The rate of external financing varies with gross domestic product (GDP) per capita, but not much at all with HIV prevalence. In six of the thirty-four countries examined, the costs of HIV/AIDS programs will exceed 3 percent of GDP by 2015. Most of these are low-income countries. Considerable external support at current rates in these countries would help contain the fiscal costs to around 1 percent of GDP. But if that support dwindles, countries would have to borrow money or cut back on their own spending for HIV/AIDS. [ABSTRACT FROM AUTHOR]

Copyright of Canadian Journal of Development Studies is the property of Routledge and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This essay commemorates the work of Mohammed Nureldin Hussain who was Chief Research Economist in the African Development Bank, and Editor of the African Development Review from 2003 to his untimely death in 2005. It focuses on five aspects of his work: his emphasis on the role of the structure of production and trade for an understanding of growth rate differences between countries; his development of the balance of payments constrained growth model with capital flows; the application of this model to compare the performance of African and Asian countries; his use of this model as an alternative to the Harrod–Domar growth model for estimating the financing requirements in Africa to meet the Millennium Poverty Reduction targets by 2015 — and also for estimating the impact of the Highly Indebted Poor Country initiative on growth and poverty reduction in Africa, and finally, his critical appraisal in the 1980s of the supply-side approach to devaluation in his own country, the Sudan. [ABSTRACT FROM AUTHOR]

Purpose — The purpose of this paper is to provide an overview of the planned project to create the first presidential library in Africa, the Obasanjo Presidential Library. Design/methodology/approach — Focusing on public concerns and criticisms in the media, the obstacles that may prevent the Obasanjo Presidential Library from being completed are enumerated. Findings — While the Obasanjo Presidential Library is intended to record the President's activities, foster democracy and promote good governance, the methods used to raise fund to date have been controversial. There is widespread criticism of the donations raised for the library project, even though most people see the library as a worthy project to pursue. Originality/value — Provides an example of how even the most worthy project may be headed for failure if not handled properly. The general support for the presidential library may not be enough to see it to completion due to the controversial methods used to secure funds for the project. [ABSTRACT FROM AUTHOR]

Globally, tobacco use claims millions of lives every year. This has necessitated policy responses including tax measures aimed at reducing the consumption of tobacco. Nonetheless, opponents of tobacco taxation posit that, it may hurt economic growth. This study, therefore, examines the effect of tobacco taxation on economic growth in 38 African countries from 2008 to 2018. The system generalised method of moments (GMM) regression is used as the estimation technique. The findings show that, tobacco taxation enhances economic growth both in the short‐ and long‐run periods, especially, through its effect on population health. Thus, African governments should be confident when increasing tobacco tax because, it has an added advantage of propelling economic growth. [ABSTRACT FROM AUTHOR]

The recent increased emphasis on impact assessment is due in part to the rapidly changing nature of funding for agricultural research and the shifts that have occurred in what is expected of the agricultural research community. The reasons for doing impact assessment are relatively clear: ex post studies can determine the impact of past investment in research on target beneficiaries and are a way to learn some of the lessons of the past. Ex ante studies can provide information to assist in the allocation of scarce research resources to activities that best match donors’ development objectives. In practice, impact assessment is often contentious and almost always difficult, particularly when livestock are involved. In this paper, we outline methods that can be used in ex ante impact assessment, and illustrate some of these in relation to three recent studies on improved food-feed crops in different places: improving the quality of millet and sorghum stover in India, using dual-purpose cowpea in West Africa, and alternatives for utilizing maize stover in the mixed systems of East and Southern Africa. Such impact assessments are neither cheap nor quick, and the methods that are most appropriate in any situation will depend not only on the resources and expertise available but most importantly on the exact nature of the questions being asked and the end-users of the results. Much remains to be done to maximize the utility of such assessments, particularly in the areas of quantitative model development, rapid qualitative method development, more effective integration of biophysical and socio-cultural indicators and approaches, and provision of baseline data against which to measure progress. Research resource allocation may well retain its somewhat haphazard nature in the future, but given the challenges facing agriculture in developing countries, a mechanism for attempting to ensure that research and extension really do contribute to widely held development goals has to be based on more than trial and error. [Copyright &y& Elsevier]

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Purpose: This study aims to examine the effect of anti-corruption disclosure on the profitability and financial stability of extractive firms in Africa. It also tests the convergence of profitability and financial stability. Design/methodology/approach: The study uses an unbalanced panel data of 27 firms operating in five African countries covering the period 2006–2018. Anti-corruption assessment is done in line with GRI 205: Anti-Corruption. Profitability is measured using the return on asset and return on equity, whereas the z-score measures financial stability. The study uses the panel-corrected error regression technique for estimation. Findings: There is evidence that corruption disclosure reduces the financial stability of firms. Disclosures on corruption analysis and corruption training are the main factors driving the reduction in financial stability. The effect on profitability is not significant except in the case of disclosure on corruption response, which also reduces profitability. There is strong statistical evidence to suggest that profitability and financial stability of extractive firms converge. This suggests that less-performing firms catch up with high performers. Research limitations/implications: The study has relevant implications for practitioners, policymakers and the academic community. The study uses data that is skewed towards large extractive firms. Originality/value: This study is premier in exploring the effect of anti-corruption disclosure on performance metrics among extractive firms in Africa. It is also unique in providing a test of both beta and sigma convergence of performance among the firms. [ABSTRACT FROM AUTHOR]

This study utilizes firm-level data from the World Bank's Enterprise Survey Indicator Database, conducted between 2009 and 2018 for 32 countries in Africa, to examine the causal relationship between firm productivity, innovation, and financial development. We show evidence that firm innovation significantly and positively affects firm productivity. We also show the mediating role of well-developed financial markets on productivity. In a well-developed financial market, the impact of firm innovation is significant through the facilitation and financing of innovation activities; and innovative firms to boost productivity and lower production costs. These findings are significant for countries in Africa (and other less-developed countries) who spend less on R&D but can adopt or imitate existing innovative ideas from technology-rich countries for accelerated economic growth and increased productivity. [ABSTRACT FROM AUTHOR]

What are the characteristics of recipient countries that attract more climate finance in mitigating and adapting to climate change? In this study, we address this question by looking at recipients in 43 Sub-Sahara African countries for the period 2006–2017, and implement several panel regression techniques, including system generalized methods of moments estimations to address potential endogeneity concerns. We also performed sensitivity analysis using panel quantile regressions. The findings show that Sub-Sahara African countries with higher population growth rate, higher poverty levels, better ease of doing business profile, weaker governance policies, weaker control of corruption, stronger rule of law enforcement, deepened social inequality, and better ICT usage, have attracted more climate finance. Policy implications of the study are discussed. [ABSTRACT FROM AUTHOR]

Earlier studies on threshold effects of financial sector development on international trade have relied on rudimentary approach which assumes exogenous inclusion of quadratic square terms of finance. However, findings from such studies are not instructive as it obscures country's unique domestic conditions such as differences in the levels of financial sector development. By relying on 46 countries in Africa over the period 1980–2016, this study employs a sample splitting and threshold estimation approach which allows finance–international trade to be mediated by the level of domestic financial sector development. We find evidence of threshold effects for a number of the countries suggesting that the precise impact of financial development on international trade is threshold–specific given the various indicators of finance. The study highlights that whether finance supports or limits international trade crucially depends on the attainment of a certain threshold which is both country and indicator–specific. [ABSTRACT FROM AUTHOR]