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- Journal of Strategic Studies : A Journal of the Southern Bureau of Strategic Studies Trust
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- Volume 6, Issue 1, 2015
Journal of Strategic Studies : A Journal of the Southern Bureau of Strategic Studies Trust - Volume 6, Issue 1, 2015
Volume 6, Issue 1, 2015
Source: Journal of Strategic Studies : A Journal of the Southern Bureau of Strategic Studies Trust 6, pp 1 –17 (2015)More Less
The primary objective of this study is to analyse the effects of dollarization on important macroeconomic variables in Zimbabwe. Its subsidiary objectives include the testing of seven hypothesis that there has been no change in average inflation, average interest rates, average real GDP growth and their volatilities before and after dollarisation and the determination of business cycle correlation between Zimbabwe and America with real GDP acting as proxy. Means, volatility are compared before and after dollarization to asses significant changes. The results show that both inflation and interest rates fell and stabilised after dollarization. Furthermore the increase in the real GDP growth rate was statistically significant.
Source: Journal of Strategic Studies : A Journal of the Southern Bureau of Strategic Studies Trust 6, pp 18 –42 (2015)More Less
The purpose of this paper is to present the findings of an investigation into the public attitude of Zimbabweans on the future of the financial services sector conducted in 2012. The study employs a descriptive research design. Due to the small sample, the results should be cautiously applied to the rest of the population. It, however, offers some useful insights into the minds of Zimbabweans and their attitude towards the financial sector.
Source: Journal of Strategic Studies : A Journal of the Southern Bureau of Strategic Studies Trust 6, pp 43 –78 (2015)More Less
The purpose of this study is to investigate Zimbabwe's deflationary episode in the context of a Minsky model of financial crisis. The global decline in inflation rates over the last decades has invoked fears and concerns about the threat of deflation, a decline in the general level of prices as measured by the consumer price index (CPI) ; retail prices index (RPI) or the GDP deflator, however short-lived. The Minsky model can be characterised in five different stages such as displacement, boom, overtrading, revulsion, and tranquillity. The findings were ambiguous that Zimbabwe's deflationary episode followed the Minsky model of financial crisis. However, it was clear that an asset bubble, soon after dollarization, based on high expectations of increased profitability enabled the banks to extend larger volumes of loans; asset prices/values were invalidated in the ensuing period when the anticipated profits failed to materialise triggering a debt deflation. Simultaneously, interest rates at commencement of the credit boom were counter cyclical as confirmed by the Taylor rule. In concluding the study identifies dollarization without the crucial structural reforms and without a robust public awareness campaign 2009 of the meaning and implications of dollarization created the scenario for deflation. Finally, the study recommend the implementation of fiscal, trade, financial, labour, and LOLR reforms to increase the efficiency of the economy.
Author John D.G. NhaviraSource: Journal of Strategic Studies : A Journal of the Southern Bureau of Strategic Studies Trust 6, pp 79 –91 (2015)More Less
Financially excluded people face a disadvantage of depending on loan sharks, borrowing at extortionate rates and finally crushed in a debt trap. Financial exclusion, is a term that indicates the absence of access to financial services. It hampers opportunities for employment and enterprise development. It is generally accepted that financial inclusion has become a topic of global importance to the extent of earning prominence at such gatherings as the 2009 G20 Pittsburgh Summit (G20 2009). However, a consensus has not been attained on a definition of financial inclusion. Most of the literature focuses on enumerating the increase of branches, automatic teller machines, and surveys of users of mobile money, typically, in a rural setting extolling the wonders of it all. This study departs from this trend and however, calls for a broader concept of financial inclusion. Familiarity with the barriers that hinder the marginalised people from accessing financial services provides clues to the requisite policies which could be supportive of a strategy to broaden access. However, it is important that there be an overarching guiding philosophy or strategy encompassing access to the whole financial services sector. Therefore, the missing key in Zimbabwe's financial inclusion agenda is a clear strategy or plan. This should clearly spell out the goals of financial inclusion; how it will be achieved, by whom and when? It will also be important to address the question of how progress will be monitored and the milestones. Will there be penalties for those not supportive and what will be the rewards for those who do?
Searching for a strategy participation and leadership model : bringing participants into the limelightSource: Journal of Strategic Studies : A Journal of the Southern Bureau of Strategic Studies Trust 6, pp 92 –102 (2015)More Less
This paper give a critical review of strategy participation, thinking and strategic leadership. We argue that the participation by different people in bringing out strategies could be the most important area that needs continual attention. Firstly, we review the major debates that have dominated the practice of strategy including definitions, planning versus thinking and the actors in formation of strategies. We locate the role of leadership and how participant might influence and be influenced. The authors take a great risk to propose a 'strategy participant model' for understanding key processes and participants that brings about strategies in a typical organisation. Finally, the suggested model is linked to how concepts of leadership, innovation and change might be located and integrated in strategy.
Author Phillip Nyasha FunguraiSource: Journal of Strategic Studies : A Journal of the Southern Bureau of Strategic Studies Trust 6, pp 103 –113 (2015)More Less
The overriding intent of this article is to interrogate the blurred nexus between patriotism and nationalism employing the context of Zimbabwean politics (2000-2013) as an avenue of analysis. This article advances the thesis and notion that patriotism and nationalism are interwoven forces in Zimbabwean politics and can not be treated in isolation. One shall take into cognizance, how neo-liberalism, the prevailing national political economy, indigenization and empowerment policy and factionalism have shaped notions of patriotism and nationalism in Zimbabwean politics notwithstanding the land question in post colonial dispensation. The article will further explore the perennial yet proverbial use of the tag "sell out", "stooge" and "puppet" in Zimbabwean politics against the notions of patriotism and nationalism. Factors affecting patriotism in Zimbabwe and the significant role of patriotism in nation-building shall also be discussed. In light of this, the article shall conclude that the ruling party in Zimbabwe, Zimbabwe African National Union Patriotic Front (Zanu PF), pursues a nationalist agenda grounded in patriotism where as the opposition, Movement for Democratic Change (MDC) and its off shoots, pursue a pseudo "democratic" and neo liberal agenda under the scapegoat of patriotism.