Faculty of Social Sciences
http://hdl.handle.net/10311/17
2024-03-29T11:51:08ZAnalysis of firm capital structure decisions: the case of non-banking firms in Botswana
http://hdl.handle.net/10311/2065
Analysis of firm capital structure decisions: the case of non-banking firms in Botswana
Ntongana, Epiphany Linden
This study seeks to bridge the knowledge gap by analyzing capital structure decisions of non-banking firms in Botswana. The study also investigates the effects of macroeconomic conditions on firms’ investment behavior as measured through their capital structure decisions, with a specific focus on Botswana non-banking firms. This study’s focus on non-banking sectors is based on the difficulty in comparing firms in banking sector and those who are not, mainly due to the regulations firms face regarding capital structure. Moreover, since Botswana’s diversification efforts are targeted at expanding the economy’s productive sectors in order to reduce dependence on the mining sector, the study seeks to focus on the capital structure of the firms in these other sectors. As a consequence, the study looks at the banking sector as part of the sources of capital structure which they provide to firms in the country, hence the exclusion of the commercial banks and the Botswana Stock Exchange as firms in the study. The capital structure decisions of non-banking firms in Botswana are examined using a Two-step Generalized Method of Moments (GMM) which takes into account simultaneity issues in the dataset, as well as through Quantile regression in order to examine the sectors in depth.
A dissertation submitted to the Dept. of Economics, Faculty of Social Sciences, University of Botswana in partial fulfilment of the requirement of the degree of Masters of Arts in Economics. Citation: Ntongana, E. L. (2019) Analysis of firm capital structure decisions: the case of non-banking firms in Botswana. University of Botswana.
2019-09-02T00:00:00ZFiscal reforms and Government revenue in Botswana: an analysis of tax buoyancy and elasticity
http://hdl.handle.net/10311/1971
Fiscal reforms and Government revenue in Botswana: an analysis of tax buoyancy and elasticity
Ntoko, Tebogo A.
This paper aims at determining the responsiveness of government revenues to fiscal reforms in Botswana tax system. Public finance uses two measures to analyse the efficiency of the tax system in generating government revenues. Tax buoyancy measures total response of tax revenue to change in GDP while tax elasticity measures automatic response of tax revenue to GDP changes less the discretionary tax changes.
The paper addresses the effects of SBI, BURS and introduction of VAT as fiscal reforms aimed at enhancing government revenues. To achieve the main objective, buoyancy and elasticity of the tax system were estimated using ordinary least square (OLS) method on time series data for the period 1980-2014. The Dummy Variable Approach was employed to capture the effects of the fiscal reforms on historical Time Series Data to estimate the elasticity of the Botswana tax system. The study reveals that total tax revenue is neither buoyant nor elastic. The same applies to mining tax revenue, non-mining income tax revenue and customs and excise. Only general sales tax/VAT is buoyant. Further, the estimates of buoyancy are higher than their corresponding elasticities for all the taxes, confirming thereof that most of the growth in revenues has been achieved due to fiscal reforms discussed. Specific objective of the study is to identify the determinant of tax revenue in Botswana. Results from an Ordinary Least Square regression with an error correction term revealed that Gross Domestic Product, Southern African Customs Union Revenues as a ratio of total tax revenue and Non-mining GDP as ratio of GDP significantly determine tax revenue in Botswana.
The study concludes that Botswana has an inelastic tax system and that total revenue cannot increase inevitably as national income grows. Therefore, the fiscal reforms were relevant to increasing government revenue. It is recommended that fiscal reforms should be assessed and improved to enhance government revenue such that the Botswana tax system is buoyant and elastic.
A dissertation submitted to the Dept. of Economics, Faculty of Social Sciences, University of Botswana in partial fulfillment of the requirements for the degree of Masters of Arts in Economics. Citation: Ntoko, T.A. (2016) Fiscal reforms and Government revenue in Botswana: an analysis of tax buoyancy and elasticity, University of Botswana.
2016-06-01T00:00:00ZCapacity building in a hostile environment: the case of Zimbabwe’s Rural District Councils
http://hdl.handle.net/10311/1920
Capacity building in a hostile environment: the case of Zimbabwe’s Rural District Councils
Mandiyanike, David
The paper examines capacity building in Zimbabwe’s Rural District Councils (RDCs) from 1994 to 2001 and the resultant erosion of capacity during Zimbabwe’s protracted political and economic crisis that followed. It is prudent to ask whether there was ‘capacity building’ or ‘capacity erosion’.
The paper establishes that the capacity building was piecemeal and that there was no genuine desire to build capacity, but that Councils embarked on these programmes to access the funding that came with the programmes.
In some cases, the design of the Rural District Councils’ Capacity Building Programme (RDCCBP) was too rigid, derailed by the central government’s half-hearted attempts towards decentralisation, and failed to allow RDCs to learn-by-doing. Because of Zimbabwe’s politico-economic crisis, national level politicians were peremptory in their demands for better RDC results and an opportunity to learn was lost. The plethora of other rural development projects coupled with the project-based approach of the RDCCBP condemned capacity building efforts to the rigidities of projects and programmes, yet capacity building is better perceived as a continuous process with experiential learning. The paper concludes by arguing that capacity building efforts in RDCs were
largely unsuccessful, and were derailed by the ‘Zimbabwe crisis’; the result can only be described as
‘capacity building that never was’. Internal efforts by RDCs to build their own capacity are more sustainable than efforts prompted by the ‘carrot and stick’ approach of external actors, such ascentral government (in a bid to ‘hive off’ responsibilities) and funding agencies.
2013-01-01T00:00:00ZNebulous labour relations in Zimbabwe’s rural local authorities
http://hdl.handle.net/10311/1919
Nebulous labour relations in Zimbabwe’s rural local authorities
Mandiyanike, David
Executive turnover can have far-reaching consequences on a local authority’s development policies, programs and commitments. This paper examines nebulous labour-related problems in Zimbabwe’s Rural District Councils (RDCs). The article chronicles the origins of the problems and how the RDCs have fallen prey to historical pitfalls. This paper critically reflects on the recruitment and dismissal of senior Rural District Council officers. The article analyses the longevity of CEOs in eight RDCs over a ten year period. The results demonstrate the sensitivity and vulnerability of such offices, and unpack the blurry boundaries that lie between policies and practice and the resultant impact on the labour relationships with RDC staff.
2013-01-01T00:00:00Z