Unisa Economic Research Working Paper Series
https://hdl.handle.net/10500/18727
2024-03-29T12:18:04ZA macroeconomic viewpoint using a structural VAR analysis of silver price behaviour
https://hdl.handle.net/10500/30192
A macroeconomic viewpoint using a structural VAR analysis of silver price behaviour
Zurika, Robinson
This article investigates silver price as a fluctuating commodity price since the financial crisis of 2007-2009. In this regard, a structural vector autoregression (VAR) was applied to observe the sensitivity of the silver price and future pricing due to changes in macroeconomic variables and to review changes in macroeconomic variables due to changes in the silver price. The main results show that the silver price is susceptible to changes in the gold price, increasing sideways. A shock to OECD GDP caused the silver price to increase which makes logical sense, thus showing a positive correlation between output and the silver price. A shock to the oil price caused the silver price to spike over the short term, then move sideways over the long term. A shock to the US Federal funds rate caused the silver price to dip over the short term, then increase slightly over the medium and move sideways over the long term, while a shock to the real effective exchange rate of the United States caused the silver price to increase sideways. The article sheds some light on the reactive status of the silver price to macroeconomic variables and its influence as a safe haven commodity.
2023-06-01T00:00:00ZThe role of financial inclusion in moderating the incidence of entrepreneurship on energy poverty in Ghana
https://hdl.handle.net/10500/30127
The role of financial inclusion in moderating the incidence of entrepreneurship on energy poverty in Ghana
Asongu, Simplice A
This paper assesses the role of financial inclusion in moderating the incidence of entrepreneurship on energy poverty in Ghana. The assessment is made by using pooled data and two stage least squares. The exposition builds from the 7th (GLSS7) and 6th (GLSS6) rounds focusing on the Ghana Living Standards Survey (GSS, 2014, 2019) that is collected by the Ghana Statistical Service (GSS) from ten principal regions in the country. The findings show that entrepreneurship has an unconditional positive incidence on energy poverty while the interactive incidence between entrepreneurship and financial inclusion on energy poverty is negative. The corresponding financial inclusion policy thresholds that should be exceeded in order for financial inclusion to effectively moderate entrepreneurship for negative outcomes in energy poverty: (i) are between 0.154 and 0.280 index for the full sample; (ii) is between 0.187 index for the rural sub-sample; (iii) are between 0.200 and 0.333 index for the male sample. (iv) Thresholds are not computed for the rural and female sub-samples because at least one estimated coefficient that is needed for the computation of such thresholds is not significant. Policy implications are discussed. This study has complemented the existing literature by assessing how financial inclusion can be employed to influence the nexus between entrepreneurship and poverty in Ghana.
2023-06-01T00:00:00ZFemale unemployment, mobile money innovations and doing business by females
https://hdl.handle.net/10500/30126
Female unemployment, mobile money innovations and doing business by females
Asongu, Simplice A
The purpose of this study is to complement extant literature by examining how mobile money innovations can moderate the unfavorable incidence of female unemployment on female doing of business in 44 countries from sub-Saharan Africa for the period 2004 to 2018. The empirical evidence is based on interactive quantile regressions. The employed doing business constraints are the procedures a woman has to go through to start a business and the time for women to set up a business, while the engaged mobile money innovations are: (i) registered mobile money agents (registered mobile money agents per 1000 km2 and registered mobile money agents per 100 000 adults) and (ii) active mobile money agents (active mobile money agents per 1000 km2 and active mobile money agents per 100 000 adults). The hypothesis that mobile money innovation moderates the unfavorable incidence of female unemployment on business constraints is overwhelmingly invalid. The invalidity of the tested hypothesis is clarified, and the policy implications are discussed.
2023-05-01T00:00:00ZThe effect of inequality on poverty and severity of poverty in SSA: the role of financial development institutions
https://hdl.handle.net/10500/30043
The effect of inequality on poverty and severity of poverty in SSA: the role of financial development institutions
Asongu, Simplice A
The present study investigates the incidence of financial institutions' dynamics of depth and access in the effect of income inequality on poverty and the severity of poverty in 42 Sub-Saharan African countries from 1980 to 2019. The Gini index is used to measure income inequality while poverty is measured as the poverty headcount ratio, and the severity of poverty is generated as the squared of the poverty gap index. An interactive quantile regression approach is used as an empirical strategy. Income inequality unconditionally increases poverty dynamics while the financial institutions' depth and access mitigate the adverse effects of income inequality on poverty dynamics. Financial institutions’ policy thresholds or minimum financial institutions levels needed to completely dampen the adverse effects of income inequality on poverty dynamics are provided. The findings are contingent on existing levels of poverty, poverty measurement and proxies for financial institutions. Policy implications are discussed.
2023-05-01T00:00:00Z