Forthcoming articles


African Journal of Economic and Sustainable Development


These articles have been peer-reviewed and accepted for publication in AJESD, but are pending final changes, are not yet published and may not appear here in their final order of publication until they are assigned to issues. Therefore, the content conforms to our standards but the presentation (e.g. typesetting and proof-reading) is not necessarily up to the Inderscience standard. Additionally, titles, authors, abstracts and keywords may change before publication. Articles will not be published until the final proofs are validated by their authors.


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African J. of Economic and Sustainable Development (5 papers in press)


Regular Issues


  • Employees compensation and profit persistence in emerging markets: empirical evidence from South Africa   Order a copy of this article
    by Dinesh Jaisinghani 
    Abstract: The main objective of the current study is to examine the nature of profit persistence and to estimate the relationship between employees compensation and profitability for publicly listed firms in South Africa. The sample consists of 114 companies operating in South Africa for the period 2006 to 2013. Dynamic panel regression model, using the Arellano and Bond (1991) estimation technique, has been deployed to generate the results. The results highlight that there is positive profit persistence in South Africa. However, the degree of profit persistence is quite low and is below 0.2. The results also highlight that there is a non-linearrnassociation between employees compensation and profitability. The results signify that there may be few entry and exit barriers in South Africa and hence there are many bright prospects for multinationals to enter the market. The results also highlight that South African companies should focus on sustained investment in developing manpower resource in order to derive the benefits in the long-run.
    Keywords: South Africa; Dynamic Panel Regression; Firms’ Profitability; Employees' Compensation; Emerging Economy;.

  • Natural Resource Curse and its Causation Channels in Africa   Order a copy of this article
    by Richard Mulwa 
    Abstract: Natural resources are a source of economic growth in most countries. It has however been hypothesized that resource rich countries develop at a slower pace because of natural resource curse. This aim of study was therefore to test whether natural resource curse does exists in resource-rich African economies, and if present, determine whether it is caused by Dutch disease or institutional failure. The study used data from 47 African countries and analysis was done using linear modelling to assess the contribution of natural resources in economic growth and in determining the presence of natural resource curse. Seemingly unrelated regressions were used in explaining the role of institutions in resource curse. The study found that natural resource curse does exist especially in countries which rely heavily on primary products and mineral resources. Further, Dutch Disease only explains part of resource curse but most is explained by institutional failure.
    Keywords: Natural resource curse; Dutch disease; Institutional failure; Africa.

    by Roseline Tapuwa Karambakuwa, Ronney Ncwadi 
    Abstract: The paper presents the constraints faced by small to medium enterprises (SME) exporters in Zimbabwe. The research sample consisting of 120 exporting SMEs was chosen from Harare, Mashonaland Central and Mashonaland East provinces. Convenient non-probability sampling method was used to select the SMEs. The triangulation method was used to collect primary data, which involved combining and utilising the questionnaire, interviews and focus group discussions. Secondary data was also utilised. The major challenges faced by SMEs are limited access to finance, lack of relevant information on the actual products that external customers prefer, lack of internal systems for efficiency in running the businesses, an unstable macroeconomic environment and failure to provide competitive products on the international markets. These constraints can be reduced by the intervention of both the government and support institutions in various ways.
    Keywords: Zimbabwe; Zimtrade; export; small to medium enterprises; trade; constraints; finance; trade balance; trade deficit; institutions.

    by Luis A. Gil-Alana 
    Abstract: This paper deals with the analysis of the statistical properties of the CO2 emissions in Africa using both aggregated and disaggregated data by components (gas, liquid, solid, cement and flaring). The results indicate orders of integration which are in all cases equal to or higher than one, finding thus statistical evidence against the hypothesis of mean reversion, which implies shocks having permanent and/or explosive effects on the series under examination. This is in line with the results obtained by other authors for the developed countries, implying that in the event of shocks producing negative economic effects, strong measured should be adopted by the authorities to recover the original trends
    Keywords: CO2 emissions; mean reversion; fractional integrationrnrn.

  • Resource Gaps, Foreign Capital Flows and Economic Growth in Sudan: An Empirical Econometric Analysis   Order a copy of this article
    by Elwasila Mohamed 
    Abstract: The objective of this study is to investigate the contribution of foreign capital inflows in abridging the resource gaps and to economic growth of Sudan over the period 1978-2015. Existence of a long run relationship among economic growth, resource gaps and foreign capital inflows is established by the method of Johansen conitegration. The VECM shows that economic growth is significantly and positively affected by foreign aid and current account deficit but negatively affected by government budget deficit GBG, foreign resource gap FRG and foreign direct investment FDI particularly in the long run. The study finds unidirectional causal relationship running from investment-savings gap to GDP as well as from GBG to GDP, with no feedbacks from both gaps to GDP. There is a unidirectional causality running from GDP to FRG but encountered with a unidirectional causality running from FDI to GDP. A bidirectional causality exists between GDP and current account deficit. Recommendations are provided accordingly.
    Keywords: Resource Gaps; Foreign Direct Investment; Current Account; Cointegration; Vector Error Correction; Granger Causality; Sudan.