The objective of this paper is to investigate empirically whether there is any evidence that Foreign Direct investment (FDI) has had a positive impact on productivity performance in Moroccan Manufacturing industries. To this end a panel data set at sector level for the Moroccan manufacturing industries in the period 1987-1996 was used. Our results suggest that the foreign presence increases the domestic labour productivity. However, this relationship is a complex one and depends on absorptive capacity or technological gap (distance between foreign and indigenous firms in terms of total factor productivity). The technological gap seems to be a condition for spillovers, but only within a certain range. Our results show a significant positive effect of trade openness (exports) on the Moroccan labour productivity.
This nonparametric event study questions the current symmetric price limit
mechanism imposed on the Egyptian Stock Exchange. Price limits are usually
instituted to control the volatility of daily stock price movements through establishing
price constraints and providing time for rational reassessment of investment decisions
during times of panic trading. This study asserts that such limits prove the opposite
and can have three delirious consequences: (1) they can be the source of higher
volatility on subsequent trading days, (2) they can delay full incorporation of
information into prices, or they can (3) interfere with trading activities of investors.
This paper examines the factors that inhibit growth in the microfinance sector in Tanzania by measuring the perceptions about such issues among Microfinance Institutions (MFIs). The most important include the educational levels of clients, lack of capital to lend to clients and staff related incentives and skills development. These findings indicate phenomena that deserve consideration from legislators. Also prominent is the dual nature of the finance sector, with the conventional banking institutions experiencing factors differently to the Savings and Credit Cooperative Societies (SACCOs), which by their nature have a lower cost structure and have better information about their own clients, but lack sufficient access to loan capital.
This article provides process insights into the progress and challenges of the NEPAD process with specific emphasis on the economic development and the capital flows,
market access and debt initiatives. Partnership with the international community has
moved African development challenges to the top of the international agenda. Given
the critique of NEPAD, both negative and positive, the progress achieved in
establishing common African positions and providing the space for debate on African
development challenges and strategies is crucial. Challenges specifically relating to
the implementation of NEPAD programmes remain the major hurdle.