The end of apartheid in 1994 ushered in a new era in South Africa and with it came the challenge of building a democratic, inclusive and stable society. The government led by the African National Congress initially followed a neoliberal stance to manage the economy and a redistributive strategy...

This study identifies main factors underlying inflation in Uganda, both in the long - and short-rung, using monthly data from January 1999 to October 2011. It uses a single-equation Error Correction Model (ECM) based on the quantity theory of money including both external and domestic variables....

In this paper we show that commodity price co-movements between petroleum and other commodities, although infrequent, are not unique to recent periods, as alluded to in the current literature. We find that much of the volatility in commodity prices over long time spans is caused by economic...

This paper estimates the enrollment impact of a nation-wide scholarship program for female secondary students in The Gambia implemented to reduce gender disparity in education. In the regions where the scholarship program was implemented, all girls attending public middle and high schools were...

A strong and efficient agricultural sector has the potential to enable a country feed its growing population, generate employment, earn foreign exchange and provide raw materials for industries. It is however ironical that despite the great potentials Africa has in agricultural production; the...

This paper analyzes welfare implications of rising commodity prices in Ethiopia based on household budget surveys. Our findings suggest that a rise in relative prices of such necessities as cereals would lead to a large deterioration in the welfare of households in urban areas. In rural areas...

This paper investigates the maximization of economic returns from mining for African countries. We focus on gold mining, a significant sector in at least 34 African countries. Our point of departure in the paper is the well-documented reality that a large number of resource-rich African...

Three countries in Southern Africa have the highest adult HIV prevalence in the world: Swaziland (25.9%), Botswana (24.8%), and Lesotho (23.6%). Fiscal policy is crucial for addressing this HIV/AIDS crisis. Utilizing a calibrated model, this paper investigates the impact of fiscal policy on...

Studies on banking competition in developing countries, and especially in Africa, are sparse. This study evaluates the degree of competition in the Zambian banking sector in the wake of dynamic market shifts induced by entry of new foreign banks and privatisation of the state-owned bank. Using a...

The East African Community (EAC) economic integration has gained momentum recently, with the EAC countries aiming to adopt a single currency in 2015. This paper evaluates empirically the readiness of the EAC countries for monetary union. First, structural similarity of the EAC countries is...