Economics
http://hdl.handle.net/10311/80
2024-03-29T07:52:10ZAnalysis 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.
2016-06-01T00:00:00ZFarmers perceptions and adaptations to climate change in Sub-sahara Africa: a synthesis of empirical studies and implications for public policy in African agriculture
http://hdl.handle.net/10311/1572
Farmers perceptions and adaptations to climate change in Sub-sahara Africa: a synthesis of empirical studies and implications for public policy in African agriculture
Juana, James Sharka; Kahaka, Zibanani; Okurut, Francis Nathan
The problem of climate in Africa has the potential of undermining sustainable development efforts if steps are not taken to respond to its adverse consequences. This study reviews existing and available literature on farmers perceptions and adaptations to climate change in sub-Sahara Africa.
It is evident that the majority of farmers in sub-Sahara Africa are aware of warmer temperatures and changes in precipitation patterns. To respond to these changes farmers have adopted crop diversification. planting different crop varieties. changing planting and harvesting dates to correspond to the changing pattern of precipitation, irrigation ,planting green crops, water and soil conservation techniques, and switch in to non-farm income activities. Years of farming experience, household size, years of education, access to credit facilities, access to extension services and off-farm income are among the significant determinants of adopting climate change adaptation measures.
To enable sub-Sahara African farmers to develop more effective climate change adaptation strategies, there is the need for African governments to support farmers by providing the necessary resources such as credit, information and extension workers to train farmers on climate change adaptation strategies and technologies, and investing in climate resilient projects like, improving on existing or building new water infrastructure and building climate change monitoring and reporting stations.
2013-01-01T00:00:00ZBotswana's crawling-peg exchange rate system: trends and variations in the pula exchange rate
http://hdl.handle.net/10311/1008
Botswana's crawling-peg exchange rate system: trends and variations in the pula exchange rate
Motlaleng, G.R.
This paper aims to show trends and variations in the Botswana Pula exchange rate before and after the
introduction of the crawling-peg exchange rate system. The survey indicates that previous devaluations not
accompanied by the crawling-peg exchange rate system were short-lived. It is shown that since the adoption of the crawling-peg exchange rate system the Pula has been depreciating. Additionally, the variance and the standard deviation revealed that variations in the nominal bilateral Pula exchange rates have been minimal since the adoption of the crawling-peg exchange rate system. To corroborate the foregoing, both
the variance and the standard deviation are computed for the nominal and real effective exchange rate of the pula against major currencies using quarterly data. The findings also suggest that the variations have
been minimal after the crawling peg. This is shown by small variance and the standard deviation of both
the nominal and real effective exchange rates. This implies stability in the Pula exchange rate and positive
results of the crawling-peg exchange rate policy regime.
2009-01-01T00:00:00Z