Department of Economics
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Browsing Department of Economics by Subject "East Africa"
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Item Barriers and Opportunities in Harnessing Geothermal Energy: A Case Study of East Africa(Journal of Energy Research and Reviews, 2024-11-28) Mutumba, Geoffrey Ssebabi; Twinamasiko, Emmanuel; Kifanta, Sanday; Lule, Simon; Erugu, ElijahThis paper examines geothermal energy applications and development in East Africa. With a large geothermal power potential of 30,000MW, about 5% of this potential has been developed in the region. This study uses secondary data to review source documents, empirical literature and archival information, which was triangulated to obtain greater truths. The findings are that geothermal energy is mainly used for power generation and other direct uses. The outstanding barriers are mainly political, economic, socio-cultural, technological environmental and legal regulatory that should be overcome to achieve robust industrialisation among member countries. The prospects include Reliable Power generation, Diversified clean energy source, employment and direct uses. The concluding remarks include suggesting a policy shift to geothermal power as a clean energy option that is a credible source for sustainable industrialisation. There should be a renewable effort to train human resource, set up geothermal policy to fast truck power development options. This study investigates and brings forth the developments in the geothermal power development. It also highlights the drivers and barriers to geothermal development. It also brings possible policy measures to the social and economic planners in expanding the renewable energy sector.Item Economic integration and private investment : a case Study of the East African Community (EAC)(Kyambogo University (Unpublished work), 2024-03) Tibihika, AmonEconomic integration necessitates the removal of trade barriers within the union, as well as the imposition of common trade barriers. All this has been linked to potential GDP growth and growth in private investment (Martin-Mayoral et al., 2016). Therefore, this study conducts an empirical examination of the impact of Economic integration on Private investment in the East African Community in 5 selected partner countries. Additionally, it aims to examine the effect of some selected macroeconomic variables, such as taxes, inflation, domestic credit, and real interest rate on Private Investment in the EAC member states. The research utilizes panel data obtained from secondary sources covering a period of 1990 to 2021 in five partner nations of the East African Community. The primary source of data for this study was the World Bank Development Indicators database. The study extends the investment model by Jorgenson (1967) which is based on the assumption that firms aim to maximize their profits by choosing the optimal level of investment that balances the expected returns on investment with the cost of capital. And Regional economic integration theory by (Viner, 2014) argues that the drive for regional integration goes beyond just the elimination of tariff barriers. Analytically, the panel data technique of fixed effects is used for the empirical analysis as guided by the Hausman Test. Economic integration was found to have a positive and significant effect on private investment at 1 percent level of significance in the EAC region. The coefficient of Economic integration means that when Countries join EAC, they are predicted to register higher private investments of about 13 percent more than before joining keeping other factors constant. In addition, Inflation had a positive and significant effect on private investment. In contrast, real interest rates had a negative effect, though significant effect on Private investment. However, credit and taxes had no significant effect on private investment. Based on these facts, the report suggests that East African Community (EAC) members should encourage more member Countries to join the (EAC). If Countries join resources, they are able to have a conducive environment for private investment. EAC Members should also establish a united East African Development Bank that can provide credit to private investors at very low-interest rates as is the case with developed Countries. Central Banks should adopt appropriate monetary policies to keep inflation moderate.