Munacinga Simatele, Syden Mishi, Forget Kapingura and James Copestake
Syden Mishi and Robert Mwanyepedza
The world over is becoming urbanized, and people are migrating to cities in large numbers in search of opportunities. The increased urbanization has posed challenges such as…
Abstract
The world over is becoming urbanized, and people are migrating to cities in large numbers in search of opportunities. The increased urbanization has posed challenges such as congestion, rising crime, and growing urban poverty. The governments respond by providing amenities such as schools, hospitals, and housing to meet to increase in demand for these facilities. However, there is a need for the provision of facilities that meets the expectations of the people, particularly on the proximity of amenities and bundles of utility-bearing housing characteristics. In an attempt to address the challenge mentioned, the study estimated the hedonic characteristics influencing the willingness to accept and willingness to pay for housing facilities in the Eastern Cape Province, South Africa. Using a multiple linear regression model and artificial neural network, the study found out that properties with a bathroom, garage and large floor size have a higher value compared to properties without these facilities.When making decisions to acquire a property, buyers consider the availability of discounts and the prevailing property price. Overall, willingness to pay and accept decisions are mainly determined by location and the price at which homogeneous neighborhood properties were sold. Therefore, the study recommends that urban town planners and other housing authorities prioritize the construction of properties with larger floor areas, parking bays, and bathrooms using a cost-effective mechanism that makes the properties affordable to residents.
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Robert Mwanyepedza and Syden Mishi
The study aims to estimate the short- and long-run effects of monetary policy on residential property prices in South Africa. Over the past decades, there has been a monetary…
Abstract
Purpose
The study aims to estimate the short- and long-run effects of monetary policy on residential property prices in South Africa. Over the past decades, there has been a monetary policy shift, from targeting money supply and exchange rate to inflation. The shifts have affected residential property market dynamics.
Design/methodology/approach
The Johansen cointegration approach was used to estimate the effects of changes in monetary policy proxies on residential property prices using quarterly data from 1980 to 2022.
Findings
Mortgage finance and economic growth have a significant positive long-run effect on residential property prices. The consumer price index, the inflation targeting framework, interest rates and exchange rates have a significant negative long-run effect on residential property prices. The Granger causality test has depicted that exchange rate significantly influences residential property prices in the short run, and interest rates, inflation targeting framework, gross domestic product, money supply consumer price index and exchange rate can quickly return to equilibrium when they are in disequilibrium.
Originality/value
There are limited arguments whether the inflation targeting monetary policy framework in South Africa has prevented residential property market boom and bust scenarios. The study has found that the implementation of inflation targeting framework has successfully reduced booms in residential property prices in South Africa.
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Michael Takudzwa Pasara and David Mhlanga
Background: Educational institutions are strategic tools in disseminating knowledge on Sustainable Development Goals (SDGs) since education is an effective developmental tool. All…
Abstract
Background: Educational institutions are strategic tools in disseminating knowledge on Sustainable Development Goals (SDGs) since education is an effective developmental tool. All the 17 SDGs are tied in one way or the other to education, that is, the ability of people to learn and apply. This study applies unorthodox theories which include convergence models, neo-functionalism, intergovernmentalism, neorealism and the Hofstede model to explain how educational institutions are an essential enabling environment which accelerates the attainment of SDGs.
Methods: These factors are analysed in the context of the new coronavirus (COVID-19) pandemic. Empirically, some university case studies were highlighted in addition to unclear modus operandi, small, fragmented and heterogeneous markets and economies, political stability, deficient political will, and lack of standardisation of products and procedures among other factors. These dynamics affect both the quality of educational institutions and the quality of education thereby directly or indirectly affecting the attainment of the 17 SDGs and are compounded with the emergence of the coronavirus pandemic.
Results: The study reveals that acceleration of the 17 SDGs will require a holistic approach as opposed to silos (scientific, economic, political, academic) which usually emerge when pursuing overarching goals of this magnitude.
Conclusions: It concludes that accelerating progress towards the attainment of SDGs will not only require dynamic and visionary leadership but also well-functioning institutions which are based on economic feasibility as opposed to political alliances. Priorities should be placed on addressing poverty, inequality and quality education. Moreover, partnerships will be key in achieving sustainability especially given that the COVID-19 pandemic has compounded existing challenges.
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Ebere Ume Kalu, Augustine Chuck Arize, Sylvester Okechukwu Ilo, Ifeoma Ihegboro and Chiamaka Goodness Eze
This study investigated the interactive impact of global and domestic stock market variables on the depth of the financial system in Sub-Saharan African (SSA) countries from 1990…
Abstract
Purpose
This study investigated the interactive impact of global and domestic stock market variables on the depth of the financial system in Sub-Saharan African (SSA) countries from 1990 to 2018.
Design/methodology/approach
The study used the mean group and pooled mean group estimators for the dynamic heterogeneous panel.
Findings
The results provide strong statistical evidence that the depth of the financial system in SSA countries is influenced by a combination of local and international stock market indicators. While the local variables exert a positive influence, the global indicator tends to negatively affect the depth of the system, particularly the monetization ratio.
Practical implications
While the tendency of portfolio adjustments and reversal can be inferred, the study stresses the need for a more globalized approach to financial policy formulation and implementation even as the trend of global financializaton gets more robust and more profound.
Originality/value
This study is unique in that, unlike prior ones, it has extended the debate on the role of the stock market in financial deepening from a domestic to an international dimension. Financial policy making can be aided by the authors' findings through looking at the financial deepening-stock market linkage from both domestic and globalized perspectives.