Vol. 10 No. 5(J) (2018)

Using panel data of 21 emerging economies, the paper investigates the financial sector development threshold levels that would influence foreign direct investment (FDI) inflows. The threshold levels we identified are 41.27% of stock market capitalization for stock market turnover, 53.55% of gross domestic product (GDP) for stock market value traded, 121.53% of GDP for stock market capitalization, 114.43% of GDP for domestic credit to private sector by banks, 144.06% of GDP for domestic credit provided by financial sector, 0.22% of GDP for outstanding domestic private debt securities and 41.26% of GDP for outstanding domestic public debt securities. Our results show that higher stock market and banking sector development above the threshold level positively and significantly influence FDI inflows whilst the influence of lower stock market and banking sector development on FDI inflows was weak and not significant. Levels of private bond market development equal to or greater than the threshold level are found to have a positive but non-significant impact on FDI inflows whilst private bond market development levels less than the threshold have a weaker positive and non-significant influence on FDI inflows. On the other hand, public bond market development levels equal to or greater than the threshold level negatively influenced FDI inflows whilst levels of public bond market development less than the threshold positively but non-significantly attracted FDI inflows into emerging markets.

The contemporary discourse on local economic development (LED) has gained widespread popularity in the political, intellectual, and public social arenas of development issues. It has become a “new,” glittering philosophy for development. Through the persuasive use of romanticism, LED has managed to achieve moral high ground in development, although it has since been confronted by unresolved theoretical and ideological tensions. The challenges facing LED are (1) the meaning of “local” in LED in a “globalized” world (2) the meaning of “development” in LED in a democratic, multicultural and racialized class society like South Africa, and (3) the explanation and moral justification as to what this “development” is, or whom it should be aimed at, in a society with such a grotesquely racialized “past”. By drawing on the findings from a recent study of LED within the Ekurhuleni Aerotropolis project, in South Africa, we provide a critique of LED. We highlight its illusive philosophical foundations and their underlying mischief in South Africa. We argue that unless the said tensions are resolved, LED discourse will remain a rhetorical ploy for legitimating underdevelopment for blacks, and a methodical device to entrench the racialized socio-economic evils of apartheid in South Africa.

Impulse buying behaviour has been recognised as a key research concern amongst academic researches and marketers. At one time or another a large amount of consumers purchases on impulse. Evidence from the literature indicates that external factors, such as in-store atmosphere, in-store browsing, in-store layout, salespersons, promotions and reference groups are important antecedents of impulse purchases. The cognitive response to act on impulse purchase is triggered by external factors to buy on impulse. This paper reports on a study undertaken to determine the external factors influencing the cognitive response of impulse buying behaviour amongst Generation Y students. Generation Y are labelled as individuals born between 1986 and 2005. The study employed a quantitative method, whereby a structured, self-administered questionnaire was used to collect data from a non-probability convenience sample of 349 students (aged 18 to 24 years), across two South African public higher education institutions’ campuses located in the Gauteng province. The collected data was examined using descriptive statistics, confirmatory factor analysis, reliability, correlation analysis and regression analysis. The coefficient of multiple determination (R2) was 0.070 that implies that in-store atmosphere, in-store browsing and promotions can predict seven percent of the variance in Generation Y students’ cognitive response to buy on impulse, which proposes that other variables influence Generation Y students’ cognitive response to buy on impulse.

According to the National Development Plan (NDP), the three main developmental problems South Africa is facing include: high levels of unemployment, poverty and inequality. Tourism, as an economic sector, has been cited as a possible solution to create much-needed employment and income which could lead to reduced poverty and improved inequality. Tourism could be used in developing regions as a driver of economic growth. The objective of this study is to determine the dynamic impact of the tourism sector on economic growth in a developing region in South Africa, namely the Vaal-Triangle region. The research methodology followed a quantitative design, using a pooled panel approach including the two municipal areas of Metsimaholo and Emfuleni which comprises the Vaal region. Annual data from 2001 to 2017 were used to analyse the impact of growth in tourism on economic growth. Economic growth was set as the dependent variable and tourism measurements such as tourism spending and trips as the independent variables. Results from the analysis confirm the original hypothesis that tourism growth has a significant impact on economic growth. The sector therefore, has the potential to create employment opportunities and alleviate poverty in a developing region if promoted and supported to its full potential.

There is a wide belief and acceptance from leading government and business experts that small enterprises and entrepreneurship are the key components to unemployment and poverty alleviation in any country. Unfortunately, high unemployment levels, low entrepreneurial activity and high small business failure rate have become the main characteristics of the South African economy. Post-school education is partially blamed for the dropping levels of entrepreneurial activities in the country. South Africa’s tertiary education system continues to focus on producing job-seekers instead of job creators. This problem has forced South African Universities to explore more on their potential of becoming more entrepreneurial, but lack of academics in the field of entrepreneurship has been found to be a hindrance to success in this agenda. To avert this obstacle, it is reiterated that internationalisation is key to any university entrepreneurship strategy, and therefore universities are encouraged to internationalise through attracting international entrepreneurial staff. The purpose of this literature review paper is twofold. The first part explores the role played by international academic professionals in the establishment of entrepreneurial universities in South Africa, while the second aims at evaluating the state of entrepreneurship development in higher education and the potential of South African universities becoming more entrepreneurial. The study employs both quantitative and qualitative research techniques (mixed method). The study reveals that South African universities should internationalise if they are to succeed in the entrepreneurial strategy. In addition, it is found that foreign academics have the required skills and bring in the diverse expertise needed for the establishment of entrepreneurial universities. Moreover, the presence of international academics has enhanced entrepreneurship mindset of local staff and students. It is recommended that universities should establish entrepreneurial institutes which are affiliated to them in order to drive this initiative and that the establishment of entrepreneurial universities is the way to go in South Africa if the country is to beat poverty and unemployment.

The study explored the perceptions of human resource management (HRM) practitioners in South Africa, using the following happiness dimensions: positive emotions, job-related wellbeing, affective commitment, employee engagement and distributive justice. The research approach was quantitative, and the research design was descriptive and longitudinal (i.e. over a two-year period). The convenience sampling technique was used to select participants. In 2016, the sample size was 204, and in 2017, the sample size was 76. The data were collected at the conventions hosted by the Institute of People Management (IPM). The major findings were that the majority of the participants were females, were employed on a full-time basis, had degrees, earned R40 000 and above, and were not unionized. Participants rated the positive emotions negatively, suggesting that they were disaffected with their remuneration, and they rated the job-related wellbeing, affective commitment, employee engagement and distributive justice items positively. The implication of this study for policymakers is that they must review their remuneration policy and practices. The implication for managers is that they might struggle to keep HRM practitioners effective, motivated, and having cordial relationships.