Emergism as Ideology: Zimbabwe’s Ill-Fated Policies for an ‘Emerging’ Upper-Middle-Income Economy

Nyamunda, Tinashe

doi:10.1007/978-3-031-20702-0_12

Cited by 1 publication

(1 citation statement)

References 31 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…As shown in Figure 10, instances of high inflation align well with low values of the Zimbabwean dollar for extreme positive SHAP values. This aligns with findings from other researchers that high inflation in Zimbabwe has been linked to depreciation of the Zimbabwean currency (IMF 2024;Nyamunda 2023). The inflation hedging hypothesis posits that equity serves as a hedge against inflation as it represents claims against real assets (Bodie 1976;Cooper and Kaplanis 1994).…”

Section: Discussion Of Resultssupporting

confidence: 86%

Investigating the Effects of the COVID-19 Pandemic on Stock Volatility in Sub-Saharan Africa: Analysis Using Explainable Artificial Intelligence

Ncube,

Sibanda,

Matenda

2024

Economies

View full text Add to dashboard Cite

This study examines the impact of the COVID-19 pandemic on sector volatility in sub-Saharan Africa by drawing evidence from two large and two small stock exchanges in the region. The analysis included stock-specific data, COVID-19 metrics, and macroeconomic indicators from January 2019 to July 2022. This study employs generalized autoregressive conditional heteroskedasticity (GARCH) models to estimate volatility and Explainable Artificial Intelligence (XAI) in the form of SHapley Additive exPlanations (SHAP) to identify significant factors driving stock volatility during the pandemic. The findings reveal significant volatility increases at the onset of the pandemic, with government stringency measures leading to increased volatility in larger exchanges, while the introduction of vaccination programs helped to reduce volatility. Weaker macroeconomic fundamentals impact volatility in smaller exchanges. The healthcare sector has emerged as the most resilient, while non-essential sectors, such as consumer discretionary, materials, and real estate, face greater vulnerability, especially in smaller exchanges. The research findings reveal that the heightened stock market volatility observed was mainly a result of the government’s actions to combat the spread of the pandemic, rather than its outbreak. We recommend that governments introduce sound policies to balance public health measures and economic stability, and that investors diversify their investments to reduce the impact of pandemics.

show abstract

Section: Discussion Of Resultssupporting

confidence: 86%