Wet dreams – dry realities: lost opportunities for an Australian presence in the global water services industry
In: International journal of environment, workplace and employment, Band 3, Heft 3/4, S. 195
ISSN: 1741-8445
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In: International journal of environment, workplace and employment, Band 3, Heft 3/4, S. 195
ISSN: 1741-8445
International audience ; Diese Studie untersucht die Auswirkungen von Wechselkursfehlern auf die Kapitalflucht in Botswana im Zeitraum 1980-2015. Die Studie verwendet den autoregressiven Distributed Lag (ARDL) -Ansatz zur Kointegration und den Toda- und Yamamoto (1995) -Ansatz zur Granger-Kausalität. Die Währungsfehlausrichtung in Botswana wurde durch Leistungsbilanzungleichgewichte verursacht. Die wichtigste Determinante der Kapitalflucht aus Botswana ist die Offenheit des Handels, was darauf hinweist, dass exportierbare Waren falsch abgerechnet werden, was zu Nettokapitalabflüssen führt. Unsere wichtigsten Ergebnisse zeigen, dass bei einer Überbewertung der Währung das Volumen der Kapitalflucht durch falsche Handelsabrechnung und die Erhöhung der Währungsreserven auf lange Sicht die Kapitalflucht nach außen nicht verringert. Wenn die Währung jedoch unterbewertet ist, steigt das Volumen der Kapitalflucht durch falsche Handelsabrechnung und die Währungsreserven verringern die Kapitalflucht nach außen. Anleger reagieren eher auf Abwertungsaussichten als auf Inflation. Botswana sollte eine Überbewertung der Pula von nur bis zu 5% tolerieren. Wenn der Pula über 5% überbewertet ist, steigt die Kapitalflucht erheblich. Die Regierung muss Handelsregulierungen formulieren und importierte und exportierte Waren überwachen. Botswana sollte auch Kapitalkontrollen durchführen, um den Kapitalschmuggel zu begrenzen und die Währungsautonomie aufrechtzuerhalten. ; This study investigates the impact of exchange rate misalignment on outward capital flight in Botswana over the period 1980-2015. The study uses the autoregressive distributed lag (ARDL) approach to cointegration and the Toda and Yamamoto (1995) approach to Granger causality. Botswana's currency misalignment was caused by current account imbalances. The most important determinant of capital flight from Botswana is trade openness, which indicates that exportable commodities are misinvoiced leading to net capital outflows. Our main findings show that in the long-run, ...
BASE
This study investigates the impact of exchange rate misalignment on outward capital flight in Botswana over the period 1980-2015. The study uses the autoregressive distributed lag (ARDL) approach to cointegration and the Toda and Yamamoto (1995) approach to Granger causality. Botswana's currency misalignment was caused by current account imbalances. The most important determinant of capital flight from Botswana is trade openness, which indicates that exportable commodities are misinvoiced leading to net capital outflows. Our main findings show that in the long-run, when the currency is overvalued, the volume of capital flight through trade misinvoicing declines and increasing foreign reserves does not reduce outward capital flight. However, when the currency is undervalued, the volume of capital flight through trade misinvoicing increases and foreign reserves reduce outward capital flight. Investors respond more to prospects of devaluation than to inflation. Botswana should tolerate overvaluation of the pula of only up to 5%. When the pula is overvalued beyond 5%, capital flight increases substantially. The government has to formulate trade regulations and monitor imported and exported commodities. Botswana should also implement capital controls to limit capital smuggling and maintain monetary autonomy.
BASE
This study investigates the impact of exchange rate misalignment on outward capital flight in Botswana over the period 1980–2015. The study uses the autoregressive distributed lag (ARDL) approach to cointegration and the Toda and Yamamoto (1995) approach to Granger causality. Botswana's currency misalignment was caused by current account imbalances. The most important determinant of capital flight from Botswana is trade openness, which indicates that exportable commodities are misinvoiced leading to net capital outflows. Our main findings show that in the long-run, when the currency is overvalued, the volume of capital flight through trade misinvoicing declines and increasing foreign reserves does not reduce outward capital flight. However, when the currency is undervalued, the volume of capital flight through trade misinvoicing increases and foreign reserves reduce outward capital flight. Investors respond more to prospects of devaluation than to inflation. Botswana should tolerate overvaluation of the pula of only up to 5%. When the pula is overvalued beyond 5%, capital flight increases substantially. The government has to formulate trade regulations and monitor imported and exported commodities. Botswana should also implement capital controls to limit capital smuggling and maintain monetary autonomy.
BASE
In: Asia-Pacific sustainable development journal: APSDJ, Band 2018, Heft 1, S. 109-145
ISSN: 2617-8419
In: The journal of developing areas, Band 49, Heft 6, S. 531-538
ISSN: 1548-2278
The share of agriculture in the gross domestic product of (GDP) in many countries has been declining. Yet agriculture still plays an important role in many developing country economies as the sector is a source of employment for an estimated 60 to 70 percent of the population in most developing countries. Most agricultural production in developing countries is associated with low productivity and poor income due to high dependence on subsistence farming with minimal technology as well as poor access to markets. Contract farming is believed to improve productivity and income because it facilitates coordination between farmers and other actors in terms of production, processing and marketing of agricultural products. The effect of contract farming on income and productivity has been a subject of increasing research but most of the available information is aggregated and there is lack of detail analysis on the mechanisms of the effects. We conducted a systematic literature review of contract farming studies using keyword search strategy Econlit, Scopus and Science Direct search engines. The keywords "contract", "farming", "contract farming" were used in combination with the words "income", "productivity", "quantitative", "qualitative", "agriculture", "aquaculture", "developing", "developed" and "country". Initially a selection criteria for the potential studies were defined and used by the authors separately to select and rank 20 studies by importance. In the second round, the authors were provided with their own rankings as well as with the results of the first round for others. A revision of ranking was requested. Based on this approach a shortlist of 23 studies emerged; 11 on the impact of contract farming on productivity and 12 were on the effects of contract farming on income of producers. We conduct an in depth analyses of the selected studies and present evidence on the effect of contract farming on farmer productivity and income. Almost all the selected studies analyzing the impact of contract farming on income argue that farmers' on contract farming schemes experienced some increase in their income.