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31. Unravelling Africa’s raw material footprints and their drivers

Author:
Albert Kwame Osei-Owusu, Michael Danquah, and Edgar Towa
Publication Date:
10-2022
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This paper applies an environmentally extended input–output analysis, leveraging the Eora database, to estimate the global raw material footprints of 51 African nations from 1995 to 2015. It employs least absolute shrinkage and selection operator and panel regression models to quantify the effects of diverse variables on Africa’s raw material footprints. The findings show that the raw material footprints of Africa’s production and consumption soared by 41 per cent and 38 per cent, respectively, from 1995 to 2015, mainly driven by biomass and construction materials. They show that Africa outsources 25 per cent of its raw material footprints from consumption, while over 60 per cent of its footprints from production arise from its exports. Our findings beckon African governments to reduce the excessive focus on exploitation and concentrate on combatting corruption and extreme rent-seeking while decoupling Africa’s raw material footprints from rising public debt, carbon emissions, income levels, and population.
Topic:
Economics, Carbon Emissions, Public Debt, Income, Raw Materials, and Input-Output Analysis
Political Geography:
Africa

32. Fintech in sub-Saharan Africa

Author:
Njuguna Ndung'u
Publication Date:
09-2022
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This paper traces the development of fintech in sub-Saharan Africa, its evolution over time, and the unfolding benefits attained at each stage of its adoption and market evolution. From the onset, fintechs have revolutionized retail electronic payment systems—a revolution that has evolved into a technological platform to manage micro-savers’ accounts, virtual savings and credit systems, public financial management, and cross-border remittances, and has led to the adoption of new monetary policy frameworks. The uptake of fintech products has led to increased financial inclusion for underserved and unserved populations, improvement of welfare, and the efficient and cost-effective provision of services across all sectors of the economy. The paper also outlines the challenges that persist and need to be addressed to allow the rapid uptake of fintech products and solutions in sub-Saharan Africa. The paper concludes that the fourth Industrial Revolution, driven by fintech, has the potential to propel the continent to higher levels of savings, investments, employment, and inclusive growth, provided an appropriate legal and regulatory framework is put in place and resources are channelled for sufficient infrastructural development.
Topic:
Science and Technology, Inclusion, Savings, and Fintech
Political Geography:
Africa and Sub-Saharan Africa

33. Determinants of corporate cash holdings in South Africa

Author:
Ewa Karwowski, Hanna Szymborska, Keagile Lesame, and Tlhologelo Thoka
Publication Date:
08-2022
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
Globally, corporate cash holdings have risen since the 1980s. In South Africa, some commentators have accused corporations of engaging in an ‘investment strike’, while others see corporate liquidity as a precaution against systemic uncertainty. We use the unique South African Revenue Service/National Treasury firm-level dataset to scrutinize corporate liquidity, using panel analysis. Relative to GDP, corporate cash and liquidity holdings have not increased between 2010 and 2017. However, corporate cash is high in international comparison and has grown at the firm level. We do not find evidence for the hypothesis that companies are engaging in an investment strike. Cash and liquidity are shaped by idiosyncratic and sectoral risk factors. In the short run, heightened uncertainty might reduce corporate cash and liquidity as firms struggle to adjust to an unexpected economic situation. In the medium run, we find a strong association between political uncertainty and corporate cash and liquidity holdings.
Topic:
Economics, Corporations, Liquidity, and Cash
Political Geography:
Africa, South Africa, and Global Focus

34. Return migration and entrepreneurship in Cameroon

Author:
Sévérin Tamwo, Ghislain Stéphane, Gandjon Fankem, and Dieudonné Taka
Publication Date:
07-2022
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
In this paper, we examine the determinants of the entrepreneurial behaviour of returnees to Cameroon based on original survey data from 2012. Contrary to the existing literature, we focus on the skills received from abroad without omitting the effect of savings. We distinguish between three types of competences related to qualifications. We also differentiate between the probability of starting a business in the primary sector and the probability of starting a business in the tertiary sector. The main results, obtained from a probit model, show that: (i) degrees and qualifications and qualifications acquired abroad do not positively influence the probability of migrants to undertake a new activity once back home; in contrast, accumulated savings, captured by the time spent abroad, have a positive influence; (ii) other qualifications have no influence on the entrepreneurial behaviour of return migrants; and (iii) the entrepreneurial behaviour of return migrants is not oriented towards the primary sector but rather towards the tertiary sector. These results are robust when we account for endogeneity.
Topic:
Migration, Entrepreneurship, Economy, and Skills
Political Geography:
Africa and Cameroon

35. Trade liberalization, employment, and gender in Ethiopia

Author:
Giorgia Giovannetti, Marco Sanfilippo, and Arianna Vivoli
Publication Date:
03-2021
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
This paper analyses the impact of trade liberalization on local labour markets in Ethiopia, with a focus on the gender dimension of employment. By exploiting rich micro-level data on Ethiopian workers, we evaluate the effect of the Ethiopian trade reforms on the changes and composition of employment, adopting as unit of analysis Ethiopian districts. We find that districts more exposed to trade liberalization experienced reductions in their employment levels, especially in female employment. We also show that reductions in (agricultural) input tariffs triggers a process of sectoral reallocation from agriculture to services and that this process is particularly pronounced for women. This in turns contributes to increase sectoral segregation.
Topic:
Gender Issues, Employment, Trade, and Liberalization
Political Geography:
Africa and Ethiopia

36. Exploring economic support networks amidst racial inequality in Namibia

Author:
Annalena Oppel
Publication Date:
06-2021
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
Community or interpersonal support as a critical source of livelihood sustenance in the Global South can exhibit unequal dynamics. An understanding of these practices is primarily tied to the conceptual space of poverty or small communities. Less is known about how social support systems might respond to structural inequalities. I address this by exploring how support practices might be shaped by inequalities in the Namibian context. I draw on primary network data to assess inequality as a social dynamic within the space of support and evaluate whether providing worse-off others corresponds to former discriminatory practices under the apartheid regime. My results suggest that inequality has normalized a sense of support as necessity for black but not white Namibians. More broadly, by recognizing differences in group practices, I evidence that exploring support practices across structural inequalities can enhance insights on the social replication of inter- and intragroup-based inequalities.
Topic:
Economics, Race, Inequality, and Social Networks
Political Geography:
Africa and Namibia

37. Firm performance, trade linkages, and the growth of SMEs in Tanzania

Author:
Josaphat Kweka, Julian Boys, and Amrita Saha
Publication Date:
03-2021
Content Type:
Policy Brief
Institution:
United Nations University
Abstract:
The private sector and enterprises have a key role to play in the development of the Tanzanian economy. This Policy Brief provides insights and solutions that could offer business sectors the vital policy support that they need to develop and grow.
Topic:
Development, Economy, Economic Growth, and Trade
Political Geography:
Africa and Tanzania

38. Better livelihoods through income diversification in Tanzania

Author:
Oliver Morrissey and Milla Nyyssölä
Publication Date:
04-2021
Content Type:
Policy Brief
Institution:
United Nations University
Abstract:
Diversifying income sources is an important livelihood strategy for households in low-income countries. Having several sources of income helps in increasing total income, and in spreading the risks. New findings on the benefits of income diversification from Tanzanian households can inform policy aiming to develop welfare at the grassroots level and beyond.
Topic:
Labor Issues, Diversification, and Livelihoods
Political Geography:
Africa and Tanzania

39. Policy implications of empirically estimated fiscal multipliers for South Africa

Author:
Johannes Hermanus Kemp and Hylton Hollander
Publication Date:
07-2020
Content Type:
Policy Brief
Institution:
United Nations University
Abstract:
Despite the frequent use of fiscal policy for stabilization purposes, there remains significant uncertainty regarding the impact of fiscal policy decisions on macroeconomic outcomes. This impact is quantified by calculating fiscal multipliers. A fiscal multiplier measures the impact of government’s tax and spending decisions on economic output.
Topic:
Macroeconomics, Fiscal Policy, and Financial Stability
Political Geography:
Africa and South Africa

40. Mining for change How can natural resources support inclusive growth in Africa

Author:
John Page and Finn Tarp
Publication Date:
11-2020
Content Type:
Policy Brief
Institution:
United Nations University
Abstract:
For a growing number of countries in Africa the discovery of natural resources is a great opportunity, but one accompanied by considerable risks. There is an extensive literature linking natural resource dependence to poor economic performance. One cause is that resource-abundant economies tend to have economic and export structures that are highly concentrated on only few export products. Most of Africa’s resource-rich economies experienced increases in export concentration during the first decade of the twenty-first century.
Topic:
Industrial Policy, Natural Resources, Economic Growth, Mining, and Inclusion
Political Geography:
Africa