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                <text>The perception of employees on performance‐based budgeting reforms in developing countries: The perspective from Ghana</text>
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                <text>Frank Ohemeng, Emelia A Asiedu, Theresa Obuobisa‐Darko, Juliana A Abane, Kenneth Parku</text>
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                <text>In the last few decades, the use of performance management to correct state finances has led to the (re)emergence of performance‐based budgeting (PBB), with the belief that it will reveal where scarce resources should be concentrated. The efficacy of PBB, however, continues to be debated. This paper attempts to contribute to the discussion, by examining the case of Ghana from the perspective of budget officers. How do budget officers perceive the PBB? It is argued that while PBB is professed as a useful budgetary mechanism, there are challenges that need to be addressed if it is to achieve its objectives.</text>
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                <text>Microfinance and credit rationing in Ghana: Does the microfinance type matter?</text>
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                <text>Lluís Díaz Serrano, Frank G Sackey</text>
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                <text>This study sets out to examine the extent to which access to credit and credit rationing are influenced by the microfinance type based on the major factors determining micro, small and medium enterprises’ access to credit from microfinance institutions in the era of financial liberalization. The data for the study were gleaned from the microfinance institutions’ credit and loan records consisting of the various pieces of information provided by the borrowers in the application process. Our results are puzzling and show that credit rationing is not influenced by the microfinance types but by the individual microfinance institutions. Keywords: Microfinance, Ghana, Credit Rationing. JEL codes: G21</text>
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                <text>Universitat Rovira i Virgili. Departament d'Economia</text>
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Explorations on Student Choice. </text>
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                <text>Do political regime transitions in Africa Matter for Citizens’ Health Status</text>
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                <text>Lluís Díaz Serrano, Frank G Sackey</text>
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                <text>Africa’s quest to achieving improved health status and meeting the Millennium Development Goals targets cannot be effectively achieved without examining the quality of leadership, transitions and regimes and how they impact on the decisions and the policy effectiveness that bring about improved health and living standards of the citizenry. In this paper, we study the importance of regime transitions on government’s expenditure in health and on infant mortality, as a development indicator. A unique panel dataset comprising 44 sub-Saharan African countries spanning from 1970 t0 2010 containing information on political regime and leaders was used for the study. To account for the relevance of leader characteristics in regime transitions in our study we control for leader fixed-effects. The overall results are suggestive of a democratic advantage in the process of achieving effective health policy outcomes for promoting health, and hence the wellbeing of the citizens in contemporary sub-Saharan Africa in the long run. Keywords: Africa, health policy, public health, private health, child mortality, democracy, autocracy, political leaders. JEL Codes: I15, H51, O55</text>
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                <text>Universitat Rovira i Virgili. Departament d'Economia</text>
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                <text>Empowering the Vulnerable to Be Entrepreneurs: An Empirical Test on the Effectiveness of the Ghana Microfinance Policy 2006</text>
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                <text>The study aims at testing the Ghana Microfinance Policy set up to support the vulnerable through access to credit. We resort to the Blinder-Oaxaca decomposition to determine if there is positive discrimination in favor of women and young entrepreneurs in the rationing behavior of the microfinance companies. This is what we should expect if the policy is effective. Our results show that even after controlling for a large number of borrower characteristics, microfinance type and credit worthiness variables, there is positive discrimination that favors female and young entrepreneurs as this discrimination is largely determined by the differential treatment these groups receive in respect of men and older borrowers from microfinance institutions. Our results show that the Government microfinance is the most severe in the rationing behavior towards the discriminating groups.</text>
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                <text>The real wealth of every nation is its people and this is the belief of the United Nations, with its</text>
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                <text>Theory and Cases, edited by George Babu and&#13;
Justin Paul, brings together ‘different perspectives from experts on how the data revolution&#13;
has shaped different regions, industries, and domains’ (2). This book documents how the&#13;
integration of digital technology into all areas of business and society fundamentally changes&#13;
the way businesses operate and deliver services to their consumers. Babu George is Associate&#13;
Professor of Management at Fort Hays State University, USA, while Justin Paul is Professor at&#13;
the Graduate School of Business, University of Puerto Rico, and member of Rollins College,&#13;
Florida, USA. Justin Paul is known widely for his introduction of the so-called Masstige model&#13;
and measures for brand management, the CPP Model for describing and comparing the&#13;
internationalization strategies along with the ‘7-Ps’ framework used in the study and practice&#13;
of international marketing.&#13;
The book reviewed here is a timely and significant publication for several reasons. Firstly,&#13;
we are living in an age of rapid digitalization. In the information and communication&#13;
technology (ICT) sector, there has indeed been a global revolution resulting in radical&#13;
changes in the way people communicate with each other. This revolution has had an&#13;
enormous impact on the way international business is conducted. In the space of 50 years,&#13;
the digital world has grown to become crucial to the functioning of society. To illustrate,&#13;
a recent study reports that 95% of young American adults own a cell phone and 97% of&#13;
these cell owners use text messaging. Furthermore, 90% of young adults use social networking sites (Abatayo, Lynham, and Sherstyuk, 2017). Secondly, we can observe both positive&#13;
and negative aspects of societal digitization: we can note current controversies surrounding&#13;
globally networked enterprises such as Facebook. In their edited collection, George and Paul&#13;
as editors allow a balanced view on both the threats and opportunities that the digital&#13;
transformation of business and society create.&#13;
The book comprises 16 chapters, contributed by some seasoned and some early-career&#13;
scholars. In an introductory chapter, Babu George, the principal editor, incisively sketches&#13;
a comprehensive picture for understanding the issues and problems with regard to the&#13;
digital revolution. As he observes: ‘we have some evidence to support the claim that the&#13;
digital revolution has helped us improve not just our business enterprises but our overall&#13;
standard of living as a community of people, around the world’ (2).&#13;
In chapter 2, Maria Lai-Ling Lam and Kei-Wing Wong explore the human flourishing in&#13;
smart cities by focusing on the characteristics and relevant issues of two of Asia’s foremost&#13;
‘smart cities’: Singapore and Songdo, in the Republic in Korea. The study generates the&#13;
following interesting arguments. First, Singapore and Songo are highly centralized and&#13;
developed to attract foreign investments and competitiveness. The authors indicate that&#13;
the cities attached huge amount of China-sourced inward financial investments and tourists.&#13;
Both cities are framed as a smart city with all computerized accessible buildings and electrical&#13;
sensors. They are managed through a centralized operating system that combines data&#13;
analytics, big data, and urban informatics. Second, the standard of living in both cities is –&#13;
by national and international comparisons – relatively high. However, the authors highlight&#13;
some notable human and environmental concerns. For instance, Singapore’s smart city&#13;
development plan was publicly criticized for its ‘lack of citizen’s participation’ (22).&#13;
A process of so-called ‘McDonaldization’ continues and, therefore, citizens are treated as&#13;
consumers and entrepreneurs in these smart cities</text>
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                <text>This study examined the effects of monetary policy on price stability and gross domestic product (GDP) in Ghana using a predictive data analytical model adapted from Friedman's (1982) models. Monetary policy adopted a two-target framework based on both the policy interest rate target and the bank credit aggregate target. Hypotheses tests were conducted using Vector Auto-Regressions (VARs) and Multiple Regression Analyses using secondary data. The VAR tests produced a statistically weak relationship between both price stability and real GDP and the two-target monetary policy framework. The results from the multiple regression analyses, however, indicated statistically significant relationships between the price stability and interest rate targets and those of real GDP and bank credit aggregate targets, thus confirming the model’s predictive capability. The study therefore recommends that for the …</text>
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                <text>Sackey, F.G., Asravor, R.K., Orkoh, E., Ankrah, I.</text>
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                <text>Micro, Small and Medium firms’ credit access remains a dilemma though the financial sector has been liberalized. This paper investigates the factors influencing credit rationing and how variations in the characteristics of firms owned by different genders contribute to credit rationing. The study utilizes probit estimation with marginal effects, Fairlie counterfactual and decomposition analysis to analyze both credit rationing and the extent to which the credit rationing gap is influenced by differences in gender endowments and discrimination using 1,430 firms’ owners’ loan applications randomly selected from eight (8) commercial banks. Our results show that borrowers having more years of experience, external market access, proximity to lender, being older and being male are not likely to experience credit rationing. Borrowers in the agricultural sector, with long term loans, who lack formal education, run labor-intensive …</text>
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Orkoh, E., Hasholo, E.N., Sackey, F.G., Asravor, R.K.</text>
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                <text>This paper evaluates the effects of the government's COVID-19 economic stimulus and relief package (emergency/one-off income grant of ND750) on household food security in Namibia during the period of the lockdown. The analysis reveals that a household that received the income grant ($42 equivalent) experienced about 11%−17% reduction in food insecurity compared to their non-recipient counterparts. We also found that the effect was relatively higher in female-headed households than in male-headed households. The positive effect is supported by a higher proportion (53%) of the beneficiary households who were satisfied with the policy. These findings underscore the need for the government of Namibia to institutionalise and sustain the income grant policy as a safety net and extend it to cover other vulnerable households in the post-pandemic. Such a programme should be gender-responsive and targeted at household heads who make decision over food consumption and other household arrangements for a bigger impact.</text>
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