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- Humavindu, Michael N., 1975-
(författare)
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Essays on the Namibian Economy
- 2008
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Doktorsavhandling (övrigt vetenskapligt/konstnärligt)abstract
- This thesis consists of an introduction and four papers exploring various aspects of the Namibian economy. These aspects cover shadow pricing, environmental valuation and capital market development in Namibia. Paper I estimates the shadow prices of capital, labour and foreign exchange for the Namibian economy. The results suggest that the shadow price of capital for Namibia is 7.2%. The economic costs of Namibian labour, as a share of financial costs, are 32% for urban semi- and unskilled labour, and 54% for rural semi- and unskilled labour. The economic cost of foreign labour as a share of financial costs is 59%. The estimated shadow exchange rate factor is 4% for the Namibian economy. Paper II derives a set of accounting price ratios (APRs) for the various economic sectors of Namibia by using the Semi-Input–Output (SIO) Technique. An APR is the ratio between the market or financial price and the efficiency or economic value of a specific commodity or sector, which is useful for the economic analysis of investment or development initiatives. This larger set of APRs, derived on the basis of information contained in a Namibian Social Accounting Matrix (SAM), should be useful in improving the effective appraisal of development projects and other major investment programmes in Namibia. Paper III analyses returns and volatility on the Namibian and South African stock markets, using the daily closing indices of the Namibian Stock Exchange (NSX) and the Johannesburg Stock Exchange (JSE). The sample covers the period from 4 January 1999 to 20 March 2003. The methodology has three main parts: (i) unit root tests, (ii) cointegration analysis, and (iii) volatility modelling. The results show that the two markets exhibit very low correlations, and there is no evidence of a linear relationship between the markets. Furthermore, a volatility analysis shows evidence of no spillover effects. These results suggest that the NSX could be an attractive risk diversification tool for regional portfolio diversification in southern Africa Paper IV studies the determinants of property prices in the township areas of Windhoek, the capital of Namibia. The work‟s major finding is that properties located close to an environmental bad (e.g. garbage dump) sell at considerable discounts. On the other hand, properties located near an environmental good (e.g. a recreational open space) sell at a premium. These results provide evidence of the importance of environmental quality in lower-income property markets in developing countries. It is important, therefore, for Namibian urban planners to incorporate environmental quality into the planning framework for lower-income areas.
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| 2. |
- Andersson, Camilla, 1979-
(författare)
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Changing the risk at the margin : Smallholder farming and public policy in developing countries
- 2010
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Doktorsavhandling (övrigt vetenskapligt/konstnärligt)abstract
- This thesis consists of a summary and four self-contained papers. Paper [I] examines whether the implementation of a social safety net programme in Ethiopia has affected the value, risk and composition of farmers‟ crop portfolios. The empirical analysis suggests that the value and risk of the crop portfolio have not been altered due to the programme. However, the programme seems to have brought about some changes in the land allocated to different crops. Paper [II] studies how a social safety net affects farmers‟ (dis)investments in productive assets. More specifically, it studies how the Productive Safety Net Programme in Ethiopia has changed livestock and tree holdings. The results indicate no significant effect on livestock holdings, but a significant increase in tree holdings. Paper [III] investigates if there is a problem of adverse selection in formal microlending in rural Bangladesh. The results indicate that farmers who only borrow formally have a shadow price of capital that is substantially higher than the average informal interest rate. This suggests that farmers that only borrow formally are perceived as poor credit risks by informal lenders. Paper [IV] explores the economic incentives surrounding the cultivation of opium poppy in Afghanistan. Specifically, it examines the impact of eradication policies when opium is used as a means of obtaining credit, and when the crops are produced in sharecropping arrangements. The results indicate that both these features are likely to affect the outcome of eradication policies.
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| 3. |
- Humavindu, Michael N., 1975-
(författare)
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Essays on public finance and environmental economics in Namibia
- 2007
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Licentiatavhandling (övrigt vetenskapligt/konstnärligt)abstract
- This thesis comprises two papers exploring aspects of public finance and environmental economics in Namibia.Paper [I] estimates the shadow prices of capital, labour and foreign exchange for the Namibian economy. The results suggest that the shadow price of capital for Namibia is 8%. The economic costs of Namibian labour, as a share of financial costs, are 32% for urban semi- and unskilled labour, and 54% for rural semi- and unskilled labour. The economic cost of foreign labour as a share of financial costs is 59%. The estimated range for the shadow exchange rate factor is between 7% and 14% for the Namibian economy.Paper [II] studies the determinants of property prices in the township areas of Windhoek, the capital of Namibia. The study reveals that properties located close to an environmental hazard, such as a garbage dump, sell at considerable discounts. On the other hand properties located near an environmentally favourable location, such as recreational open space, sell at a premium. These results provide evidence of the importance of environmental quality in lower income property markets in developing countries. It is therefore important for Namibian urban planners to incorporate environmental quality within the planning framework for lower income areas.
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| 4. |
- Stage, Jesper, 1972-
(författare)
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Mixing Oil and Water : Studies of the Namibian Economy
- 2003
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Doktorsavhandling (övrigt vetenskapligt/konstnärligt)abstract
- This thesis consists of four papers studying economic aspects of natural resource and environmental management in Namibia.Paper [I] analyses changes in Namibian energy use patterns between 1980 and 1998. The study finds that, unlike their counterparts in many other developing countries where energy use has been studied, Namibian energy users appear to have been quite flexible in changing to energy-saving technologies and to technologies using different energy sources altogether. One explanation for this difference may be that Namibia has had relatively high energy prices and has had high taxes on oil-based fuels, which may have made Namibian energy users more interested in potential energy savings.Paper [II] studies variables affecting property pricing in the township areas of Windhoek, Namibia’s capital city. Plots close to a garbage dump sell at substantial discounts, while plots close to a recreation area sell at premium prices. These results suggest that environmental quality may be more important for households in township areas than has previously been believed. Neglecting issues of environmental quality in town planning for township areas may thus be a serious omission.Paper [III] uses Namibian farm price data to study the impact of groundwater access on farm profitability. Potentially, groundwater can function both as an extra source of water in areas with low rainfall and as a buffer source of water in areas where rainfall is higher but variable. If groundwater mainly functions as a buffer source of water in high-rainfall areas, it could be replaced by various means of water storage fairly easily. Providing extra water by other means in low-rainfall areas, on the other hand, is likely to be prohibitively expensive. The study does not provide clear-cut results, suggesting that on precautionary principles one should assume that groundwater will be difficult to replace with other water sources.Paper [IV] studies optimal allocation between commercial and recreational fishing for one of Namibia’s fish species, the kob. The biological dynamics of the kob are modelled using an age-class model with age-specific mortalities, in order to capture the fact that the two fisheries target different age classes. The length of the planning horizon is crucial for the results: If a short planning horizon is used, the results indicate that a large share of the catches should be allocated to commercial fishing. With a longer planning horizon, however, the higher profitability of recreational angling leads to the conclusion that it would be preferable to limit commercial fishing in order to permit kob stocks to recover and improve angling success.
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