Suchergebnisse

PurposeThe impact of financial reforms and financial development on an economy has received considerable attention over the recent past. This paper aims to investigate whether financial liberalisation and financial development increase the likelihood financial crises in Southern African development community (SADC) countries.Design/methodology/approachDue to the binary nature of the dependent variable, the logit model is used for the analysis using data for the period 1990 to 2015.FindingsThe results showed that financial liberalisation captured by real interest rates reduces the likelihood of financial crises. Furthermore, regulatory quality strengthens this reductive effect of financial liberalisation on the probability of financial crises. On the other hand, financial development represented by bank credit increases the incidence of financial crises. The results also suggest that financial liberalisation may increase the likelihood of financial crises indirectly through financial development.Research limitations/implicationsThe study recommends that a sound regulatory and supervisory framework be established as well as institutional quality raised to curb the effect of financial development on the incidence of financial crises.Originality/valueThere is scant evidence on the role that financial liberalisation and financial development play in the incidence of financial crises in the SADC. This study incorporates the effect of institutional quality in the analysis which has been neglected by most studies on financial reforms in SADC countries. A number of recent studies in SADC countries conclude that financial development resulting from financial reforms, may hinder economic growth. Therefore, this study sheds light on this negative relationship.

Elections in a democracy are a way to bring about a peaceful transfer of power in an organised and peaceful manner within a legal framework. However, this process, in most countries, carries with it elements of uncertainty and tension. Southern African countries like Botswana and Zambia have more experience with comparative democratic electoral politics than others. This article seeks to identify the legal framework that govern and the weaknesses and opportunities that exist in the electoral commissions of Botswana and Zambia in order to eradicate the current challenges faced by election management bodies (EMBs); more importantly, it seeks to understand their image as impartial players in the conduct of general and other elections that are held in Botswana and Zambia in order for the SADC region to learn from these two EMBs. The purpose of this article is to critically compare and analyse the independence of the Zambia Electoral Commission and the Botswana Independent Electoral Commission, in order to establish the extent of the adequacy of the legal frameworks that govern their independence. The article argues that an EMB has to win the confidence of all stakeholders in the electoral process.

Forum es un grupo permanente de cientificos sociales y periodistas uruguayos que se reunen una vez al mes para discutir la agenda politica del pais. Intenta establecer el vinculo entre la noticia del momento y las tendencias politicas de mediano y largo plazo. Politicamente no alineado, el proyecto responde a la idea de aportar al proceso de democratizacion mediante un espacio de reflexion y dialogo independientes. (Marcha)