Humanities and Social Sciences

Permanent URI for this collection

http://41.63.25.24:4000/handle/123456789/77

Browse

Now showing 1 - 20 of 1011

Language in Zambia
(International Africa Institute, 1978) Kashoki, Mubanga; Ohannessian, Sirarpi
Language in Zambia is part of a series of five country Studies that have been produced over the past few years. This effort at linguistic documentation has been perhaps the most important activity of the Survey of Language Use and Language Teaching in Eastern Africa. The Survey, supported by the Ford Foundation and assisted by universities, research institutes, government ministries and public offices in five countries in Eastern Africa (Ethiopia, Kenya.Tanzania, Uganda, and Zambia) sponsored research teams from 1967 to 1971, each team spending twelve to fifteen months in Africa gathering data, then a similar period of time analysing the data and writinga report
Worker's Participation in Management: evolution,Essential Features,Constraints and Potential
(University of Zambia, 1979) Mwiya, Maata
This study provides first, a descriptive analysis, of participation through works councils. Secondly the study provides a survey of the level of, constraints on, and potential for, workers' participation in practice.The study was conducted in eleven enter¬prises in Lusaka from May to October, 1978 plus a six weeks' study tour of the Central and Co-pperbelt Provinces. The methodology framework of the study includes literature review, use of official documents, questionnaires and interviews.The study reveals that workers' participa¬tion was introduced in Zambia for both ideological and pragmatic reasons. Because of the ideologieal commitments to the philosophy of humanism, the ruling party (UNIP) and the Government initially wanted a radical type of workers' participation somewhat modelled after the Yugoslav system of self-management. However, the employers and the socio-economic conditions prevailing in Zambia during the 1969-71 period (when the legislative process was underway), suggested caution and put pressure on the Government to finally adopt a moderate model of workers' participation similar to the West German Scheme of Works Councils. The evaluation of workers' participation in practice demonstrates that workers are rarely informed, consulted and involved in co-decision to the extent envisioned by Part VII of the Industrial Relations Act. The main constraints on participation according to the study are; unfavourable management attitudes, inadequate support from Government and other institutions for participation^ legal complexities and contra-dictions, and irrelevance of the type of issues discussed in Council meetings to workers' imme¬diate interests.Unfavourable management attitudes are caused by the managers' ideas about participationo Most managers think that participation negated corporate autonomy, has no immediate value, and is an unwanted bother. Such negative attitudes frustrate the rank and file and curtail the level of workers' participation in management. The problem of legal complexities involves the existence of a veritable maze of work rules, regulations, articles of labour, and company legislation beyond the workers' control. The problem of inadequate government support stems from lack of resources. This pro¬blem has affected the seriousness with which workers participation has been taken by both employees and employers and has delayed the consolidation of participation.
To the Bottom of the Heap: Educational Deprivation and its Social Implications in the Northwestern Province of Zambia, 1906-1945
(Syracuse University, 1983-05-01) Wilkin, Paul; David
Evaluation of the Performance Management package (pmp) in the Zambian Civil Service
(The University of Zambia, 2006) Mate, Njekwa
This study was aimed at evaluating the Performance Management Package (PMP) in the Zambia civil service. More specifically, it examined the key elements of the PMP and its implementation and attempted to determine the extent to which work plans and targets have been established and were adhered to in the Zambian civil service. The linkages between performance appraisal and the application of rewards, sanctions, training and skills development were also explored. In order to do so, a stratified random sample of 236 civil servants drawn from three ministries (i.e. Agriculture and Co-operatives, Local Government and Housing and Finance and National Development) and two government institutions (i.e. Cabinet Office and the Public Service Management Division) were interviewed using a semi-structured questionnaire. In addition to this were two members of the Performance Improvement Team (PIT) at the Ministry of Local Government and Housing (where the team was found to be in existence). For these two PIT members at the Ministry of Local Government and Housing an unstructured questionnaire was administered so as to get more qualitative data. The results presented in this study show that although the PMP launch, briefing meetings and installation workshops had been carried out in the sampled organisations, no further work had been done to ensure that every employee had a work plan to follow and targets to achieve against which their performance could be evaluated. This was mainly due to inadequate financial and physical resources, on the one hand, and lack of visionary and committed leadership to continue with the PMP implementation, on the other. In addition, the government has never conducted a review of the PMP implementation in the ministries and institutions. Similarly, although 78 percent of the respondents had work plans created for their jobs only slightly over half of them (i.e. 55.5 percent) claimed that their work plans were completely followed or adhered to. The main reasons cited for the failure to adhere to work plans were poor funding, increased workloads due to manpower shortages and the absence of strict follow-ups by managers to ensure that work plans were being followed. As regards performance appraisal, slightly over half of the respondents (i.e. 53.8 percent) had the view that the PMP had introduced or helped put in place a more objective annual performance appraisal system (APAS). Furthermore, the study also found weak linkages between APAS and the application of rewards, sanctions, and training and skills development in the civil service today. As a result of this, the majority of the civil servants interviewed (i.e. 58.5 percent) argued that the administration of the performance appraisal system in the civil service today was just a matter of routine and served very little purpose. The study noted the absence of any reward or incentive schemes and sanctioning mechanisms in the organisations visited that are required to effectively manage performance. Therefore, as a way forward, the government can, among others, adopt the following measures to improve the implementation of the PMP: reduction of the five-step implementation strategy to make it more cost effective and easy to apply; provision of financial and physical resources at all levels of the PMP implementation process; introduction of a PMP implementation monitoring and evaluation mechanism; development and implementation of a clear rewards or incentives policy; resolution of the current dilution of authority over human resources and its management in the civil service; educating all civil servants on performance management and its importance.
An interpretative phenomenological analysis of the experiences of female Engineering students at selected Universities in Zambia
(University of Zambia, 2010) Munachonga, Heather
ABSTRACT Although female representation still remains low in the male dominated engineering programmes at university level in Zambia, no study had been undertaken to examine the experiences of female engineering before this study. The study therefore sought to examine the experiences of female engineering students and explore possible ways of providing support to the female engineering students at University of Zambia and Copperbelt University. Bronfenbrenner’s Ecological Systems theory was used as the framework for the study. The framework provided the basis on, and perspective from, which to understand how ecological systems in the environment that the female engineering students live in influence them. Qualitative research was used and the study was situated in the interpretivist philosophical framework. This study took an ontological stance that reality is subjective and not fixed but varies from person to person. An Interpretative Phenomenological Analysis (IPA) was used because this method focuses on understanding lived experiences of participants from the participants themselves. A sample of 14 fifth year female engineering students was selected using homogenous purposive sampling. Data were collected using semi-structured interviews. The study found that female engineering students’ school and home experiences such as encouragement from significant others in form of parents and teachers shaped the mathematics and science positive self-concept which ultimately influenced them to study engineering as well as shape their positive engineering self-concept. At university, some female engineering students experienced intimidation in the male dominated environment both at student and faculty levels while others experienced social isolation and limited peer network. The female engineering students experienced positive discrimination in form of affirmative action of lowering cut off points for female engineering students to qualify to their majors in engineering which allowed them to major in engineering sub disciplines of their choice. The female engineering students had experiences of strong peer support from the study groups they belonged to, in addition to intrinsic motivation which was critical to remaining positive and persistent in engineering courses. The female engineering students suggested that availing female lecturers to teach in the various sub disciplines of engineering and holding seminars for female engineering students would largely motivate some female engineering students and possibly attract more females into engineering programmes. The implication of the findings is that the decisions to design interventions to support female engineering students should use the ecological prism and engage the female engineering students themselves because realities of their experiences are unique to them. The environment in which the female students live has a lot of influence in their choice to study engineering, their persistence and can provide the required support that female engineering students require to be attracted and retained in engineering. Further research in the area can be conducted to examine factors that prevent many female students from majoring in engineering.
Suffix Ordering Rules:The Case of the Reciprocal,Applicative and Causative Verb Extensions in Sesotho
(The University of Zambia Press, 2011) Nkolola-Wakumelo, Mildred; Mohoanyane, Mapapali
This article looks at reciprocal verb extensions in Sesotho,it also looks at the combination of the reciprocal with other extensions particularly the causative and applicative verb extensions .to achieve this the article answers the following questions : a) To what kind of verbs can the reciprocal extension be added directly ?. b) What is the sequence in the combination of the reciprocal ,applicative and causative extensions
The impact of financial development on economic growth in Zambia
(2011-04-06) Mukuka, Andygean Chileshe
This study examines the impact of financial development on economic growth process for the period 1964 to 1998. The study explores financial developments in Zambia and the channels of influence by which financial development is related to growth. The study also looks at which financial ntermediaries are doing the intermediation and to whom the financial system is allocating credit. Chapter 2 describes discusses the political and economic developments the evolved after independence, Policy reforms and implications and the features of the banking industry as well as the non-bank financial intermediaries in Zambia. Chapter 3 discusses theoretical and empirical literature for the purpose of highlighting existing body of knowledge on this topic. Chapter 4 estimates an error correction model of financial development indicators to investigate the channel through which the allocation of a higher proportion of assets to the non-financial private sector by the financial intermediaries affects economic growth in Zambia. Chapter 5 gives policy implications and recommendations. The main findings of this study are that the development of a financial system has an indirect effect on economic growth. Specifically, the size of the financial system is not statistically significantly related to economic growth through the direct channel (per capita income) while the relationship is negative and remains weak through the indirect (investment) part. The fraction of credit allocated to the private sector by financial intermediaries has no direct relationship with economic growth. Moreover, the measure of assets distributed to the private sector has an indirect effect on economic growth.
Trends in Public Recurrent Expenditure in Zambia 1964-1982
(2011-04-06) Chimbwayinga, Josiah Simunza
Trends in public recurrent expenditures in Zambia 1964-82, This research project will examine the main determinants of the ratio and changes in the ratio of public recurrent expenditures to GNP on both the aggregate and disaggrepate functional levels. The hypothesis is that the institutional reforms, level of economic development and population factors have contributed to the increase in the ratio of public recurrent expenditures to GNP. The research project will further examine the patterns or main features of these expenditure ratios in terms of their degree of centralisation and stability. On centralisation the hypothesis postulated is that centralisation is a function of GNP per capita and the population growth rate. On stability the research project will examine the relationship between the stability of expenditure ratios and the fluctuations in the GNP per capita and the population growth rate. The hypothesis postulated is that the stability of the expenditure ratios is a function of the fluctuations in the GNP per capita, population growth rate and other economic development indicators, In order to carry out the task outlined above the study design employed will be on the level of hypothesis-testing. The inductive model building technique will be used to explore the determinants and the main features of the ratios of public recurrent expenditures. The time series multiple regression analysis will mainly be used. The dependent variables are the .ratios of public recurrent expenditures to GNP, centralisation ratio and the coefficients of variations of the public recurrent expenditures to GNP ratios. The explanatory variables are the economic development indicators,. The estimated coefficients of the explanatory variables will be tested by the regression technique and determined whether they are significant or not. / t t * • * - 2 - On the basis of the tested and significant coefficients of the explanatory variables some explanatory/predictive public recurrent expenditure and stability models for Zambia will be suggested both on the aggregate and the disaggregate functional levels.
The determinants of banking sector interest rate spreads in Zambia
(2011-04-06) Banda, Charles Masili
Financial intermediation is essential for economic development. The consensus is that Zambia needs a stable and efficient banking system in order to finance both private and public investment and expenditures. The effectiveness of the banking system in channelling funds from surplus to deficit actors is often gauged by examining the spread between lending and deposit rates and by assessing the degree of operational efficiency of the banking industry. Although Zambia has made some progress since the deregulation of its banking system, interest rate spreads remain absolutely high. When the spread between lending and deposit interest rates is too large, it is generally regarded as a considerable impediment to the expansion and development of financial intermediation, as it discourages potential savers with low returns on deposits and limits financing for potential borrowers, thus reducing feasible investment opportunities and therefore the growth potential of the economy. However, Zambia's experience indicates a widening spread in the post-liberalization period. This research will therefore contribute to fill the knowledge gap by examining why interest rate spreads are still persistently high in Zambia despite successful financial reforms. The aim of this study has been to investigate the levels and trends in interest rate spreads, to document the key macroeconomic and market determinants of interest rate spreads and to provide policy options that would help to narrow the interest rate spreads so as to enhance the efficiency of the Banking Sector and hence economic growth and development of Zambia. In particular, the study investigates the effects of inflation, exchange rate volatility, reserve requirements and discount rates on interest rate spreads. The study uses Ordinary Least Squares to estimate the Log-Linear regression model to explain the main determinants of interest rate spreads in Zambia. Quarterly time series data is used from 1995 to 2008 and it was collected from the Bank of Zambia. The Dickey- Fuller and Augmented Dickey- Fuller Tests were performed to determine if the variables were stationary and to determine their order of integration. To avoid spurious results, a cointegration analysis using the Johansen Maximum Likelihood ratio test was done to determine whether the variables are cointegrating. The loglinear empirical model was estimated by Ordinary Least Squares using EViews econometric Package. To ensure that the model was adequate and that consistent and unbiased parameter estimates were obtained, various diagnostic tests were conducted. The study checked and corrected for violations of the standard assumptions of the regression analysis. The Ramsey RESET test was also conducted to ensure that model was correctly specified. The study found exchange rate volatility and inflation rate to be statistically insignificant. Hence the government should not use them in an attempt to influence interest rate spreads as such policies are bound to fail. However, the study found the lag of the interest rate spread, the discount rate and reserve requirements to be positive and statistically significant. Hence policies targeting these are likely to be more effective at reducing the persistently high interest rate spreads.
Appropriateness of inflation targeting as monetary policy framework for Zambia
(2011-04-06) Hangoma, Peter
There is now consensus that inflation hampers economic and social development. It is therefore important to have a clearly defined and effective framework of inflation control. Since 1992, Zambia has been using monetary targeting as a framework of inflation control. However, the link between inflation and monetary aggregates is no longer stable and predictable. In this vein, the Bank of Zambia has been considering switching the monetary policy framework to inflation targeting. The objective of this research is to assess the applicability of this framework by investigating the factors that drive inflation. Inflation targeting works best if inflation is demand driven while the effects of supply side factors on inflation are temporary. Further, it must be possible to use a nominal interest rate as a monetary policy instrument. Using annual data from 1992 to 2008, we fit the standard model of inflation targeting by Svensson (1997) and then compare it to the Chand and Singh (2006) model. The Chand and Singh model reformulates the Svensson demand side to what is thought to better depict the economic structure of developing countries. The model recognizes that developing countries usually sustain large fiscal deficits which can be significant in driving inflation. To this end, the policy rule of interest rate should also respond to fiscal deficit ratio. Alternatively, fiscal deficit ratio itself can be used as a policy rule. Moreover, the Chand and Singh model also includes supply side factors with the reasoning that they might be significant in explaining inflation. Our results show that inflation in Zambia can be said to be demand driven and supply side factors are insignificant. However, the interpretation of aggregate demand in terms of output gap was found to be insignificant in driving inflation. Instead, the alternative interpretation, nominal excess demand growth was found to have more explanatory power. Fiscal deficit ratio was found to be insignificant. This precludes the possibility of it being employed as a policy rule. On the contrary, we found a significant, negative and stable relationship between inflation and the Treasury Bill (TB) rate. The main policy implication of the results is that inflation targeting can be adopted and serious attention has to be given to the interest rate that will be employed. The transmission mechanism is not smooth and Government should consider dealing with factors behind this problem. It would also be important to address the problem of information asymmetry in the banking system.
Determinants of Under-Five Motality in Zambia: A Case study of Kitwe District
(2011-04-06) Mulenga, Justina
This research looks at the determinants of under-five mortality in Kitwe district in Zambia. The objective of this study was to investigate the determinants of under-five mortality in Kitwe district. Both qualitative and quantitative techniques were used in collecting data. A detailed questionnaire was administered to a sample size of 100 to collect information on the possible determinants of under five mortality in Kitwe district. The verbal autopsy provided qualitative information on the illness that led to the death of the child. One of the specific objectives was to investigate the relationship between socio-economic factors and under-five mortality. The other specific objective was to investigate the role of child care practices and use of modern health services and under-five mortality. The findings show that there is a relationship between the availability of electricity in households and under-five mortality. Households using electricity contributed only 27 percent of the under-five deaths in Kitwe district, whereas 73 percent of the deaths came from households using other means of energy for cooking. Similar findings were observed on the use of water where 65 percent of the deaths came from households that used river or well/bole water while 35 percent came from households using piped water. However,health-seeking behavior such as antenatal care, place of delivery, breastfeeding and vaccination of the child do not seem to be significant contributors to under-five mortality in Kitwe district.
The determinants of households savings in Zambia
(2011-04-06) Chizoma, Mwaka Cynthia
While the recent years have seen Zambia become increasingly dependent on foreign savings for its economic and developmental programmes, access to these savings is becoming more difficult. This implies that the country will have to depend more on the mobilisation of domestic savings, if it is to achieve the intended economic growth. It is envisaged that Zambia needs to achieve growth of between 5 to 8 per cent per annum in the medium term in order to have any impact in the reduction of poverty, which in 1998 stood at more than 70 per cent of the total Zambian population. (MFNP, 2001 ;CSO, 1998)While private savings are more likely to be available for investible purposes it has generally been found that, in contrast to the developed countries, household savings tend to comprise the largest component of domestic savings in the developing countries (Bautista, 1990). The ability and willingness of households to save,therefore, as well the opportunities to do so, can over time significantly influence the rate and sustainability of capital accumulation and economic growth in developing countries. This paper thus attempted to investigate and identify the factors that determine household savings in Zambia. In addition to income, other variables that included the interest rate, inflation rate, dependency rate, urbanisation rate and education were analysed for their impact on household savings, basing on theoretical and empirical evidence.From the analysis, it was found, as opposed to most economic literature, that income while accounting for part of the short-run variations in household savings did not have any long-run effect. Rather, in the long-run, it was education and inflation with positive and negative coefficients, respectively, that influenced household savings.These two variables were also significant in determining the short-run variations,along with interest rates that indicated an inverse relationship with household savings.
Househood demand for comodities in Zambia: an Emperical assessment in context of food insecurity
(2011-04-07) Kapenda, Justin
It is known that Zambia's population has high food poverty and about 82% of the population in most parts of the country are said to be vulnerable to food insecurity (MoFNP, 2006). The extent of food poverty is particularly more prevalent in rural areas and among the poor people. The high food poverty levels should be a great concern to the policy makers and the government seeking to improve the economy. Addressing this problem requires understanding of the dynamics of this food poverty such as the locality and expenditure pattern on food of the affected people. Little, however, is known on these factors and about how food demand differs across different income groups and across different regions and this household food demand is affected as food prices change. With organized information about responsiveness of heterogeneous consumer households to changes in prices and income,policy makers seeking a mechanism for improving the welfare of households will have relevant information that facilitates the choice between policies that aim at increasing food production or reducing retail food prices and policies that focus directly on affected households. The objective of this research was to investigate the pattern of household food expenditure and examine how the price, income and demographic factors influence demand for food in Zambia using data on 5 food groups. The dissertation address four research questions: First, how do household food expenditure patterns in Zambia differ across different income groups and across different geographical regions? Second, to what extents do demographic factors in Zambia influence consumption decisions and expenditure pattern of household food? Third, how effective are income and price changes in influencing household food demand? And fourth, do households in Zambia diversify in food consumption when income or prices of food change? We used latest Central Statistic Office (CSO) cross sectional data of household expenditure survey of 2006 with a sample of 18,628 households designed to be nationally representative of all Zambian households. We applied Deaton and Muellbauer's (1980) Linear Approximation of the Almost Ideal System (LA/AIDS) model to estimate the demand systems. The demand system was estimated by nonlinear Iterated Seemingly Unrelated Regression (ITSUR) technique using EVIEWS econometric package. The results showed that maize meal, fish/kapenta, fruit/vegetables were inelastic and meat was elastic. The result also showered that meat was a luxury commodity. The main policy implication of the results includes a substantial price decline associated with increased production of maize and fish/kapenta and would benefit the majority of households since the two commodities have high budget shares and low own price elasticities of demand.
Agricultural Pricing Policy:The case of Zambia
(2011-04-07) Hasan, Jyoti Khanna
Firm efficiency and firm size
(2011-04-07) Chita, Mukosha Bona
Firm Efficiency and Firm Size Productivity achievement has become an illusory and diminutive economic objective for most struggling Third World countries. For instance, on the performance of the Zambian economy we note that the Gross Domestic Product (GDP) per capita has declined from about 500 United States Dollars to about 250 United States Dollars today. In the last three years, the GDP of the country has consistently declined by an average of about 4%. Against this background of general economic malaise, we also find specific negative performance at the sectoral and industrial level. For example the labour productivities in the manufacturing subsectors, such as food and textiles, were declining and were actually negative between 1980 and the early 90s. Given that these are two of the most significant sectors for an industrialising or developing economy as technological and supply responses are likely to yield the highest returns, it therefore represents a serious problem in achieving developmental goals for all concerned with the Zambian economy. In addition to that, the index of labour employment, the output by subsector and investments all show negative trends over this same time period. In short, the case of the manufacturing sector in Zambia is gloomy and depressed. Given the above economic environment, it is expedient to attempt to discern as precisely as possible the status of Zambian firms. If the general economic and specific firm performance indicators are all mostly negative we require to be able to isolate the causes as well as the effects attributable to certain identifiable causes. One way of approaching this problem, as has been done in this study is to take account of all related information to production, labour and employment, capital utilisation and raw materials utilisation for firms and see how each firm or groups of firms access and utilise these inputs. This means that we set a criteria of efficiency. Generally we do this by either price or allocative efficiency, technical efficiency and/or managerial efficiency.Price or allocative efficiency entails we determine how the firm makes use of the factors of production in relation to profit maximisation subject to the prices or costs of these factors of production i.e. wages, interest and rent. Technical efficiency, which is the concept relied upon in this study entails that we try to determine how effectively an economic unit or firm will organise its inputs such as labour, capital (machinery ,equipment and land) in maximising its output. If, two or more, n, different firms (where n is any number of firms) use identically the same labour, capital, raw materials and land and yet produce two different outputs or yield, then obviously the firm that has the greater output is more efficient than the other. In the following pages investigations on the performance of the firms is made on an industry level as well as a sectoral level by application of a deterministic parametric production function. This is the Cobb - Douglas production function. The regression equations used are the non - linear and linear least squares as well as the maximum likelihood least squares. In this respect, both the industry and sectoral production functions are of the 'average' type. Unlike in the stochastic approach therefore, we are not accounting for efficiency effects attributable to random events such as machinery breakdown or idle time. in the determination of the efficiency levels in relation to the size of the firm, the most pertinent indicators or factors are then the parameters so derived. Parameters such as that of labour, capital or raw materials ac actually are also elasticity estimates. They enable us to determine the proportionate change in the variable due to a unit change. Thus we are able to determine the rate of resource utilisation per unit of output. In addition the constant represents the technical coefficient, allowing for comparison across the board of the more technically efficient group of firms, given the size of the coefficient. Other non linear variables such as the correlation coefficient and correlation matrices that are generated allow for a comparison of the fit of the function and the relationship between the different variables, for example, we can determine whether the resource use is labour or capital intensive and therefore see how this fits in with the expectations of either small firms that should be labour intensive and therefore promote employment or large firms that could be capital intensive and therefore do not promote as much labour employment. With this approach we are able to therefore compare the performance of the various groups of firms i.e. small, medium or large sized firms production functions with the 'best practice' function or one that has exhibited the best efficiency or performance given the above factors. Having made the above analysis, the study then attempts to isolate the causes for such differences by categorising the firms according to their sizes in order to gauge the optimal size out of all the firms. This is done with the objective of identifying the size of firm that maximises output given an equivalent amount of inputs. This is justified by the fact that all resources are scarce and optimisation of resource use is an alternative way to productivity enhancement and economic growth and development. The study concludes, on the basis of available evidence that as much as small scale firms may be desirable as the seem to be an answer for employment creation, yet due to the sometimes harsh economic adjustment measures such as structural adjustment programmes, their inability to access capital renders them susceptible to economic demise and they suffer a much higher risk of liquidation and bankruptcy than medium -large scale firms.
An Econometric Analysis of the Demand for money in Zambia 1965-1984
(2011-04-08) Musonda, David Tusheleni Chomba
The past several decades have witnessed considerable empirical research on the demand for money function due to the vital role this function plays in macroeconomic analysis especially in regard to the formation and transmission of monetary policy. Consequently demand for money functions have been empirically estimated by many researchers for a number of developed and developing countries. For example Baumol (1952), Teigen (1964),Adekunle (1968), Bhattacharya (1974) and Darrat (1985).However, the demand for money function for Zambia has not been estimated before. It is the aim of this study,therefore, to estimate an appropriate demand for money function for Zambia using annual data over the period 1965 to 1984. One of the central issues that this study addresses is whether the Zambian demand for money relationship has shifted during the period of estimation. This is important because demand for money stability is a prerequisite for an effective monetary policy. As Darrat(1985) pointed out, to predict adequately the impact of money supply changes upon real output, interest rates, and prices the underlying demand for money relationship must be temporarily stable.cont/,The paper is organised as follows: Chapter I is a brief review of the Zambian Economy. While Chapter II is an overview of the literature on demand for money it also lays down the theoretical foundation of our study . In Chapter III we discuss the determinants of the aggregate demand for money in Zambia. Also included in this Chapter is the specification of an appropriate demand for money function for Zambia, the empirical results and the examination of the stability property of the demand for money function. The principal conclusions of this study are as follows:- 1. The appropriate empirical definition for money in Zambia is the M2; 2. The explanatory variables that significantly influence real demand for money in Zambia are real GDP (excluding subsistence agriculture) and real treasury bill rate; 3. Elasticity of real demand for money with respect to real GDP is greater than unity because of the upward bias induced by monetization; and 4. There is evidence that the estimated demand for money function is structurally unstable over time
Aid to Zambia and its Impact on social-economic development 1964-83
(2011-04-08) Mtonga-Chidumayo, Suya Bright
Aid to Zambia and its Impact on Social - Economic Development 1964 - 1983, This research project tries to evaluate the effect of aid on Zambia's social - economic development. The hypothesis is that the quantity, quality and forms of aid has led to increased; gross domestic saving, investment, employment opportunities and to self - sustained development, In order to carry out the task outlined above the study design is on the level of hypothesistesting Historical data is used to test whether or not GDP, sectoral/ and employment growth ra.tescan be explained, at least in part in terms of quantity, quality and forms of aid inflows, On the basis of the results alternative approaches to a,id administration are suggested.
External debt and economic growth in Zambia:An empirical investigations(1975-2000)
(2011-04-08) Koyi, Grayson
The objective of this study was to contribute to the knowledge about the effects of external debt on economic growth in Zambia during the period 1975 to 2000. The results were expected to help substantiate the case for significant debt reduction and even outright cancellation for developing countries like Zambia. However, such a study was also relevant from a more general policy perspective since results would hopefully help attempts at debt relief become more cognisant of both opportunities and limitations of debt relief initiatives. The problem investigated was how external debt influenced Zambia's economic growth during the period 1975 to 2000. The study used a deductive method of analysis. As such, the research methodology involved two main stages: first, a review of important documents that shed light on external debt and growth in general and those specific to Zambia. Second, the study tested econometrically the hypothesis that Zambia's external debt acts through the combined effects of high debt-to-income ratios and high debt service-to-export ratios to reduce Gross Domestic Investment (GDI), and thus depress Gross Domestic Product (GDP). On this basis, a two-stage least squares (2SLS) regression method was used to estimate the econometric model. A major finding of the study was that Zambia's external debt and debt service payments reduce investment and thus depress the economy through a combined effect of high debtto-income ratios and through high debt service-to export ratios. The existence of two separate channels of influence, i.e. through the 'debt overhang' and crowding out effects proved inconclusive, however. Nonetheless, the overall hypothesis that Zambia's external debt acts through the combined effects of high debt-to-income ratio and a high debt service-to-export ratio was found to be valid. Thus, the conclusion the study reached was that the attainment of sustainable levels of economic growth in Zambia would be difficult without aggressive measures to significantly reduce the stock of external debt. In view of this, the study's major recommendation was for accelerated debt reduction that would be sufficient to allow for recovery of both investment and economic growth in Zambia.
Financial liberalisation and its Impact on savings mobilisation and Investment: A case of Zambia
(2011-04-08) Kumwenda, Judith C. Makulu
This study considers the impact of financial liberalisation policy on savings and investment in Zambia for the period 1964 to 1996. It examines the relationship between positive real domestic interest rates and savings and investment. Real domestic interest rates are a proxy for financial liberalisation. Other variables of interest were included. These were world real rate of interest, credit availability, real exchange rate, domestic credit to the government, terms of trade, foreign debt growth rates and foreign direct investment. The study uses econometric time series analysis, consisting of cointegration analysis and error correction models on annual data. The main findings are that positive real interest rates have no long run relationship with savings and do not affect savings in the short run. The variables that have an impact on savings in the long run are foreign debt and the world real interest rate. In the short run the growth rate of income and world real rate of interest and foreign direct investment affect savings. The study has therefore, not found any support for the McKinnon-Shaw financial repression hypothesis for the savings model. In terms of investment, for the long run, credit availability has been found to exert a strong influence, as well as, foreign debt, terms of trade and the world real rate of interest. In the short run the real exchange rate and real domestic interest rate are the only two variables to exert any significant impact. The two dummies for change of policy and openness of trade have not had any impact on savings or investment. The study concludes that for investment, the McKinnon-Shaw hypothesis has found empirical support. Results have validated the theory that it is via the availability of credit, rather than through positive real interest rates per se, that investment is increased. It is recommended that macroeconomic stability should be a precondition for successful financial liberalisation. Exchange control regulation needs to be put in place to prevent or at least limit capital flight. There is need to reduce reserve requirements to free up loanable funds so as to increase credit that can go to finance productive investment. To promote investment especially in non-traditional exports there is need to make the prices of domestic exports attractive to the world market
Analysis of technical efficiency of Secondary Schools in Zambia
(2011-04-08) Chaampita, Mutinta
The importance of quality and efficient education sector has attracted a lot of attention both in terms of academic work and political commitment in developed countries. In contrast, there has been little work done concerning efficiency of the education sector carried out in African countries. Zambia today is no exception; there is an increasing demand for more secondary school education to match the needs of a growing population in Zambia. A lack of adequate resources presents a binding constraint. The efficiency with which available resources are being utilized is another challenge that cannot be overlooked. The high school education sub-sector (Grades 10-12) has not expanded since the 1970s (FNDP 2005). There is an added problem of poor performance among schools. Pass rates at Grade 12 level is consistently below 70% since 2000. Weaknesses in the operations of schools undermine their service coverage potential even in situations where funding is not the main constraining problem resulting in a poor service delivery system. The study used stochastic frontier analysis and data envelopment analyses which are parametric and non parametric methods respectively to calculate efficiency score for each school. The parametric specification estimated technical efficiency assuming exponential distribution. The non parametric specification used constant and variable returns to scale in calculating efficiency. School level data from Examination Council of Zambia and Ministry of Education respectively was used. We used School enrolment and number of pupils who obtain Grade 12 School Certificate as outputs. Recurrent expenditure, number of classrooms in a school, Pupil teacher ratio and book- to- pupil ratio were used as inputs. The average technical efficiency measured by the stochastic production frontier method is 82% for enrolment. The DEA mean efficiency score is 77% and 65% for pass rate and enrolment respectively. We did not obtain technical efficiency scores for pass rate using SFA because it failed to display the asymmetric error term required to model inefficiency. Also one hundred and thirty observations out of two hundred and one observations have consistent rankings between SFA and DEA. The rank order correlation coefficient of efficiency is 0.66 between the two methods. This study has demonstrated that inefficiency of resource use in schools is significant. The unsuitable scale of operation of secondary schools can be used as a productivity control tool. Policy attention is drawn to the rank order correlation coefficient which suggests that using either DEA or SFA is sufficient to identify efficient schools.

Browse

Browsing Humanities and Social Sciences by Issue Date

Results Per Page

Sort Options