African Journal of Economic and Management Studies最新文献

{"title":"Bayesian inference for inflation volatility modeling in Ghana","authors":"Carl Hope Korkpoe, Ferdinand Ahiakpor, Edward Nii Amar Amarteifio","doi":"10.1108/ajems-04-2023-0132","DOIUrl":"https://doi.org/10.1108/ajems-04-2023-0132","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The purpose of this paper is to emphasize the risks involved in modeling inflation volatility in the context of macroeconomic policy. For countries like Ghana that are always battling economic problems, accurate models are necessary in any modeling endeavor. We estimate volatility taking into account the heteroscedasticity of the model parameters.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The estimations considered the quasi-maximum likelihood-based GARCH, stochastic and Bayesian inference models in estimating the parameters of the inflation volatility.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>A comparison of the stochastic volatility and Bayesian inference models reveals that the latter is better at tracking the evolution of month-on-month inflation volatility, thus following closely the data during the period under review.</p><!--/ Abstract__block -->\u0000<h3>Research limitations/implications</h3>\u0000<p>The paper looks at the effect of parameter uncertainty of inflation volatility alone while considering the effects of other key variables like interest and exchange rates that affect inflation.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>Economists have battled with accurate modeling and tracking of inflation volatility in Ghana. Where the data is not well-behaved, for example, in developing economies, the stochastic nature of the parameter estimates should be incorporated in the model estimation.</p><!--/ Abstract__block -->\u0000<h3>Social implications</h3>\u0000<p>Estimating the parameters of inflation volatility models is not enough in a perpetually gyrating economy. The risks of these parameters are needed to completely describe the evolution of volatility especially in developing economies like Ghana.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This work is one of the first to draw the attention of policymakers in Ghana towards the nature of inflation data generated in the economy and the appropriate model for capturing the uncertainty of the model parameters.</p><!--/ Abstract__block -->","PeriodicalId":46031,"journal":{"name":"African Journal of Economic and Management Studies","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2024-06-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141503855","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Digital finance and SME financial inclusion in Africa","authors":"Umar Habibu Umar, Abubakar Jamilu Baita, Issa Hamadou, Muhamad Abduh","doi":"10.1108/ajems-08-2023-0323","DOIUrl":"https://doi.org/10.1108/ajems-08-2023-0323","url":null,"abstract":"PurposeThis study examined the impact of digital finance on SME financial inclusion in Africa.Design/methodology/approachThe study obtained data from the International Monetary Fund's Financial Access Survey and World Development Indicators covering the period from 2011 to 2022. Heteroskedastic panels corrected standard errors (HPCSE) and feasible generalized least squares regressions were employed in the analysis.FindingsThe findings indicate that digital finance (volume and intensity) significantly improves SME financial inclusion in Africa.Research limitations/implicationsDue to the paucity of data, the study covered only 17 African countries over 12 years (2011–2022).Practical implicationsThe findings imply the need for African central banks and other relevant regulatory bodies to establish effective regulations mandating Deposit Money Banks and other financial institutions to operate agent banking. This would facilitate access to financial services for SME owners. Such measures could financially include more unbanked SME owners, especially those in rural areas. Moreover, these initiatives must be strongly supported by introducing user-friendly digital financial technologies and registering more financial technology (fintech) companies.Social implicationsImplementing necessary measures to enhance access to digital financial services for SMEs in Africa is likely to reduce unemployment and poverty and contribute to the economic growth and development of the region.Originality/valueThis study provides empirical evidence showing how digital finance affects SME financial inclusion in Africa.","PeriodicalId":46031,"journal":{"name":"African Journal of Economic and Management Studies","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2024-06-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141340433","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Does humane leadership influence customer service orientation of financial institutions? The moderating effect of job satisfaction of casual employees","authors":"R. Dzogbenuku, E. Sokro, K. Dartey-Baah","doi":"10.1108/ajems-04-2023-0144","DOIUrl":"https://doi.org/10.1108/ajems-04-2023-0144","url":null,"abstract":"PurposeThis study seeks to assess how a humane leadership style affects customer service orientation among casual employees of financial service institutions in Ghana. Using job satisfaction as a moderator, this study predicts that a humane leadership style influences casual employees’ customer service orientation.Design/methodology/approachSurvey data were obtained from 328 frontline casual employees of financial service firms. The structural equation modelling technique of partial least squares was used to test the hypothesised relationships.FindingsThe study found that a humane leadership style positively and significantly drives customer service behaviour. Job satisfaction also had a positive effect on customer service orientation among casual employees.Originality/valueThe study appears to be the first of its kind to explore the moderating role of job satisfaction in the connection between humane leadership and customer service orientation from the perspective of casual employees. The study highlights insightful practical implications for corporate managers, HR practitioners and marketing academics.","PeriodicalId":46031,"journal":{"name":"African Journal of Economic and Management Studies","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2024-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141375115","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The mediating role of organizational learning culture in the nexus of human resource development practices and employee competencies","authors":"Frank Nana Kweku Otoo","doi":"10.1108/ajems-10-2023-0387","DOIUrl":"https://doi.org/10.1108/ajems-10-2023-0387","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>A learning-focused culture promotes creativity, innovativeness and the acquisition of novel insights and competencies. The study aims to explore the relationship between human resource development (HRD) practice and employee competencies using organizational learning culture as a mediating variable.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>Data were collected from 828 employees of 37 health care institutions comprising 24 (internationally-owned) and 13 (indigenously-owned). Construct reliability and validity was established through a confirmatory factor analysis. The proposed model and hypotheses were evaluated using structural equation modeling.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>Data supported the hypothesized relationships. The results show that training and development and employee competencies were significantly related. Career development and employee competencies were significantly related. Organizational learning culture mediates the relationship between training and development and employee competencies. However, organizational learning culture did not mediate the relationship between career development and employee competencies.</p><!--/ Abstract__block -->\u0000<h3>Research limitations/implications</h3>\u0000<p>The generalizability of the findings will be constrained due to the research’s health care focus and cross-sectional data.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>The study’s findings will serve as valuable pointers to policy makers and stakeholders of health care institutions in developing system-level capacities that promote continuous learning and adaptive learning cultures to ensure sustainability and competitive advantage.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>By evidencing empirically that organizational learning culture mediates the relationship between HRD practices and employee competencies the study extends the literature.</p><!--/ Abstract__block -->","PeriodicalId":46031,"journal":{"name":"African Journal of Economic and Management Studies","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2024-06-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141198438","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"FinTech and financial development: the role of traditional financial institutions","authors":"Abraham Emuron, D.P. van der Nest, Cephas Paa Kwasi Coffie","doi":"10.1108/ajems-10-2023-0406","DOIUrl":"https://doi.org/10.1108/ajems-10-2023-0406","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This paper employs data from the World Bank to examine the effect of traditional banks on FinTech and financial development in the Southern African Development Community (SADC) region.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The study employs the Generalized Method of Moments (GMM) as the primary data analysis method.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The findings of the study demonstrate a bi-directional relationship between traditional financial institutions and FinTech. Traditional financial institutions are observed to facilitate the adoption of FinTech solutions, whilst the disruptive effects of FinTech incentivize traditional banks to adapt to the changing financial landscape and tailor their service and product offerings to reflect recent technological advancements. Consequently, there exists a positive relationship between traditional financial institutions and financial development in the SADC region.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>Our findings suggest the need for market liberalization and enhanced institutional quality controls for policymakers. Traditional banks must adapt their business models and incorporate FinTech solutions to remain competitive and relevant. Collaborative partnerships between traditional banks and FinTech firms have emerged as a practical approach to leverage the strengths of both sectors.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This is one of the first studies to examine the role of traditional financial institutions in FinTech and financial development using GMM in the SADC region.</p><!--/ Abstract__block -->","PeriodicalId":46031,"journal":{"name":"African Journal of Economic and Management Studies","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2024-05-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141169335","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Leveraging growth of savings and credit cooperatives through innovative practices-cases from Uganda","authors":"Agnes Noelin Nassuna, Soeren Jeppesen, Waswa Balunywa","doi":"10.1108/ajems-02-2023-0044","DOIUrl":"https://doi.org/10.1108/ajems-02-2023-0044","url":null,"abstract":"PurposeThis paper explores how the growth of selected Savings and Credit Cooperatives (SACCOs) in an African setting was nurtured through innovative practices that enabled them to fulfill their roles.Design/methodology/approachThe paper applies an exploratory qualitative approach using face-to-face interviews and observation to obtain in-depth primary data. Data were then examined using thematic and matrix analyses to understand the key resources, innovative practices and growth strides in the cases studied. FindingsThe SACCOs undertook a variety of innovative practices based on resources, which included: creating teams, focusing on community needs, involving top management and all SACCOS’ members and having visionary entrepreneurial leaders. This led to an increase in outreach and savings.Originality/valueWhereas the concept of innovative practices has been widely studied, there is scanty literature on how such practices within SACCOs are developed based on the resources of SACCOs in Africa. This paper further provides new insights based on empirical data from SACCOs that applied innovative practices and were able to grow.","PeriodicalId":46031,"journal":{"name":"African Journal of Economic and Management Studies","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2024-05-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141112766","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The impacts of the Ethiopian developmental state model on the competition, efficiency and profitability of banks","authors":"Abdulmenan Hamza","doi":"10.1108/ajems-08-2023-0324","DOIUrl":"https://doi.org/10.1108/ajems-08-2023-0324","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>This study examines the impacts of the Ethiopian developmental state model on the competition, efficiency and profitability of banks.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The competition, efficiency and profitability of the Ethiopian bank are measured using Panzar Rose, data envelopment analysis and financial ratio. Fixed-effect panel regression methods are applied to test the direction and strength of association between the Ethiopian developmental state model and the competition, efficiency and profitability of the country's banks while controlling bank-specific market structure and macroeconomic factors.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The Ethiopian developmental state model embeds the state-directed financial system, which affects the banking industry using a range of credit allocation instruments. Of which, directed credit schemes, interest rate control and the lack of financial freedom reduce the competition and efficiency of banks. The National Bank of Ethiopia (NBE) advances to the government and the sale of Treasury bills to a captive market enhances banking competition while negatively affecting banking efficiency. Interest rate control and the lack of financial freedom lower banking profitability. Unexpectedly, directed credit schemes improve banking profitability.</p><!--/ Abstract__block -->\u0000<h3>Research limitations/implications</h3>\u0000<p>As with any study, this one has limitations. The intra-period comparison of efficiency is based on balanced data. Future studies can use methods that can measure the efficiency of banks using unbalanced data. The computation of the yearly H-statistic is constrained by the small sample size. The use of high-frequency data for measuring competition can provide us with better insights into banking competition in Ethiopia. Furthermore, there are a number of methods for measuring banking competition, efficiency and profitability with different assumptions. Approaching the subject of this study by applying different methods will offer different insights.</p><!--/ Abstract__block -->\u0000<h3>Practical implications</h3>\u0000<p>The contributions of this study to practice are at two levels. First, at the policy level, it enhances our understanding of the impacts of developmental state model policies, as implemented in Ethiopia, on the banking industry and therefore provides suggestions to policymakers to reform the sector's policies. Second, it offers input to the management of banks regarding the factors that impact the industry.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>The banking industry is often studied in the context of financial liberalisation. The originality of this study lies in investigating how the competition, efficiency and profitability of banks are affected when operating in the context of significant state interventions in the industry.</p><!--/ Abstract__block -->","PeriodicalId":46031,"journal":{"name":"African Journal of Economic and Management Studies","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2024-05-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140942216","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Understanding the link between supervisor and co-worker support, job characteristics, work engagement and employee resilience: evidence from Uganda","authors":"Hamidah Nabawanuka, Emre Burak Ekmekcioglu","doi":"10.1108/ajems-05-2023-0184","DOIUrl":"https://doi.org/10.1108/ajems-05-2023-0184","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The purpose of this study is to investigate the relationship between support (i.e. supervisor support (SS) and co-worker support (CS)), job characteristics (job autonomy, job complexity and skill variety) and work engagement (WE). Furthermore, the study examined whether there is a mediating effect of employee resilience (ER) on the aforementioned variables.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>Data were collected from employees working in SMEs in Uganda. A sample of 324 responses was used for data analysis. Structural equation modelling and bootstrapping procedures were used to test the hypothesized relationships.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The study findings confirmed that SS, CS and job characteristics were positively related to WE. The study revealed that SS, job autonomy, job complexity and skill variety were found to foster WE through ER. Yet, CS was found not to have an indirect impact on WE through ER.</p><!--/ Abstract__block -->\u0000<h3>Research limitations/implications</h3>\u0000<p>Because this study was conducted using a cross-sectional research methodology, it makes it hard to draw causal inferences.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>This study’s findings contribute to the existing body of literature on WE and job characteristics and also adds to the growing body of research on ER.</p><!--/ Abstract__block -->","PeriodicalId":46031,"journal":{"name":"African Journal of Economic and Management Studies","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2024-05-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140925861","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"The impact of fiscal shocks on economic growth and income inequality in Ghana: is there a trade-off?","authors":"Zenabu Mustapha, Paul Owusu Takyi, Raphael Edem Ayibor, Frank Adusah-Poku","doi":"10.1108/ajems-04-2023-0133","DOIUrl":"https://doi.org/10.1108/ajems-04-2023-0133","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The study examines the impact of fiscal policy shocks on economic growth and income inequality in Ghana. This has become necessary because of the interdependence between growth and income inequality and the role fiscal policy plays in this relationship in the development process of a country. Thus, a study that investigates how government expenditure shock and tax revenue shock influence the relationship between economic growth and income inequality could assist policymakers to adopt the best policy mix to ensure income equity and sustained economic growth in Ghana.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>It employs sacrifice ratio from structural VAR model using quarterly time series data from 1996 to 2019 on Ghana.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>Our results show that government expenditure shock impacts economic growth, exchange rate and education positively and significantly in the long run. Also, tax revenue shock has a positive impact on income inequality, economic growth and education. The findings further show that there exists a trade-off between economic growth and income inequality in the long run.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>The relationships between fiscal policy shocks, economic growth and income inequality have been extensively discussed among scholars. Understanding how these three macroeconomic variables are determined and their interrelationships are crucial for policymakers. This is because fiscal policy aids in both economic growth and income inequality. In the empirical literature, the emphasis has been on independently estimating the growth effects of fiscal policy or the distribution effects of fiscal policy, leaving out the existence of possible trade-off between economic growth and income inequality following a fiscal shock. To the best of our knowledge, no empirical study has been done on Ghana to empirically examine the trade-off between economic growth and income inequality as we do in this paper.</p><!--/ Abstract__block -->","PeriodicalId":46031,"journal":{"name":"African Journal of Economic and Management Studies","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2024-05-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140925860","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Pay dissatisfaction and withdrawal behaviour of employees in the civil service: does personal income tax regime matter?","authors":"Timinepere Ogele Court, Alaowei Kingsley Appiah","doi":"10.1108/ajems-02-2023-0063","DOIUrl":"https://doi.org/10.1108/ajems-02-2023-0063","url":null,"abstract":"<h3>Purpose</h3>\u0000<p>The aim of the study is to explore the links between multiple personal income tax regimes, pay dissatisfaction, employee lateness and absenteeism. Accordingly, this paper examines the relationships between income tax policies, pay dissatisfaction and the work withdrawal behaviours of employees in the public service.</p><!--/ Abstract__block -->\u0000<h3>Design/methodology/approach</h3>\u0000<p>The study adopted a quantitative design, and data were collected through a structured questionnaire from a sample of 252 respondents from the Bayelsa State Civil Service in Nigeria. Data were analysed by applying multivariate regression and structural equation modelling through the use of Stata software version 12 and SmartPLS version 4.</p><!--/ Abstract__block -->\u0000<h3>Findings</h3>\u0000<p>The results demonstrated that there was a positive relationship between personal income tax regimes and pay dissatisfaction; there was a positive relationship between pay dissatisfaction and work withdrawal behaviour of employee tardiness and absenteeism and pay dissatisfaction mediated the relationships between personal income tax regimes and work withdrawal behaviours of public sector employees.</p><!--/ Abstract__block -->\u0000<h3>Originality/value</h3>\u0000<p>The study appears to be the first to explore the nexus between personal income tax regimes and pay dissatisfaction and withdrawal behaviours of employee tardiness and absenteeism as well as the mediating role of pay dissatisfaction in public service organisations.</p><!--/ Abstract__block -->","PeriodicalId":46031,"journal":{"name":"African Journal of Economic and Management Studies","volume":null,"pages":null},"PeriodicalIF":1.3,"publicationDate":"2024-05-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140925786","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}