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Papers by Canicio Dzingirai

International journal of business and management, Apr 26, 2013

Cogent Business & Management, 2021

PSL Quarterly Review, 2019

The study aims to determine the relationship between financial development and economic growth wi... more The study aims to determine the relationship between financial development and economic growth with respect to the state of institutional quality on 27 Sub-Saharan Africa countries using a five-year averaged dataset over the period 1982-2016. The findings established evidence of a U-shaped relationship between financial development and growth which entails that more (less) finance drives (retards) growth in the region. The turning point beyond which financial development begins to contribute positively on economic growth ranges between 33% and 37%. Even though the connection is not strong, the selected institutional variables also showed both a direct and an indirect positive impact on economic growth. Financial development is positive and significant when embedded in selected well-developed institutions, which implies a complementary relationship of institutions and financial development on growth. It is therefore recommended that policy makers and responsible authorities take stri...

Pénzügyi Szemle = Public Finance Quarterly, 2021

A tanulmány többféle módszert alkalmaz a zimbabwei kormányközi költségvetés-kiegyenlítés modellez... more A tanulmány többféle módszert alkalmaz a zimbabwei kormányközi költségvetés-kiegyenlítés modellezésére. A javasolt fiskális kapacitásmodell preferáltsága azon az érven nyugszik, hogy a nem igazolt vertikális költségvetési egyensúlytalanság szerkezeti kérdés, amelyre a megoldás a bevételeket vagy kiadásokat illető felelősség különböző kormányzati szintek között történő átcsoportosítása. Az általunk javasolt fiskális kapacitásmodellt öt változó támasztja alá, nevezetesen a nemzeti költségvetésben meghatározott teljes összeg, a szegénységi mutató (a szegénység elterjedtségének aránya), a terület népessége, a helyi gazdaság mérete (bevétel/GDP arány) és a terület altalajában rejlő természeti erőforrások becsült belső értéke.

Upsurge in bank failure cases under a more stable currency environment are rare, but the Zimbabwe... more Upsurge in bank failure cases under a more stable currency environment are rare, but the Zimbabwean case raised a lot of questions, which justified the need to deeply investigate sources of bank failures. This is considered an imperative move considering the impact that bank failures pose to stakeholders outside the banking sector such as investors and depositors, the Zimbabwean banking sector itself as well as the entire economy. This study investigated the determinants of bank failures in Zimbabwe under the multicurrency environment. The study employed pooled logit estimator using general to specific logit estimation procedure on fourteen banks by making use of 2009–2012 panel data. Empirical findings indicated that the macroeconomic environment, in particular GDP growth rate, has much influence on bank failure than any other bank fundamental. Among bank fundamentals, liquidity, profitability and capitalisation proved to be prominent bank related determinants of bank failures in t...

There was troublesome development in non-performing loans since the inception of multiple-currenc... more There was troublesome development in non-performing loans since the inception of multiple-currency regime in Zimbabwe. The study investigated determinants of nonperforming loans in Zimbabwe using a panel of eight (8) banks. Using decomposed monthly data from 2009 to 2013, a combination of static and dynamic panel regression models were applied. Findings revealed that non-performing loans are influenced by microeconomic, macroeconomic and political factors. Results supported quiet life hypothesis. Based on this hypothesis, we identified that interest rates had strong positive nexus with non-performing loans and that they create a platform that threatens realization of the financial inclusion objective in Zimbabwe due to recurring cycles in Non-performing loans (NPLs).Interestingly both dynamic models managed to capture influence of Government of National Unity (GNU) on NPLs in Zimbabwe. We found negative association between GNU and NPLs and results were in line with our expectations....

MNOs have grabbed the unbanked market including the rural areas that traditional banks have fail... more MNOs have grabbed the unbanked market including the rural areas that traditional banks have failed to access, traditional banks have been experiencing a decrease in the level of activity, including liquidity shortages, low deposits and limited credit availability. The MNOs have lower charges for transacting, and offer more convenience and accessibility as opposed to traditional banks. Interoperability between traditional banks and MNOs has been riddled with challenges from the main stream banking sector. The paper seeks to find out if the traditional banking sector is indeed under threat from the use of the mobile money transfer system (MMTS) and if the two can harmonise their role in the market and operate together to the benefit of the Zimbabwean citizens. A quantitative study was adopted for the study with a view to gather information from mobile network operators. The population of agents for the three MNOs was 750, The 254 questionnaires were distributed to systemati...

British Journal of Economics, Management & Trade, 2015

International Journal of Economics and Finance, 2014

African Development Review, 2004

Abstract: This paper seeks to empirically explore the causal link between the level of financial... more Abstract: This paper seeks to empirically explore the causal link between the level of financial development and economic growth in 13 sub-Saharan African countries. The empirical investigation is carried out in a vector autoregression (VAR) framework based on the theory of cointegration and error-correction representation of cointegrated variables. The results of the cointegration analysis provide evidence of the existence of a long-run relationship between financial development and economic growth in almost all (12 out of 13) of the countries. With respect to the direction of long-term causality, the results show that financial development plays a causal role on economic growth, again in eight of the countries. At the same time, evidence of bidirectional causal relationships is found in six countries. The findings imply that African countries can accelerate their economic growth by improving their financial systems.

Education and Information Technologies, 2022

Pénzügyi Szemle = Public Finance Quarterly, 2021

The paper deploys a mixed method approach in modelling intergovernmental fiscal equalisation in Z... more The paper deploys a mixed method approach in modelling intergovernmental fiscal equalisation in Zimbabwe. The desirability of the proposed fiscal capacity model is premised on the argument that the anecdotal vertical fiscal imbalance is a structural issue whose antidote is reassignment of revenue or expenditure responsibilities among different governmental tiers. The fiscal capacity model, as we have proposed, is underpinned by five variables, namely, total amount to be allocated as declared in the national budget, poverty index (poverty prevalence rate), population of the area, size of the local economy (revenue/GDP ratio) and the estimated intrinsic value of the sub-soil natural resource endowments of the area.

Small to Medium Enterprise sector world over have been the driving force behind economic developm... more Small to Medium Enterprise sector world over have been the driving force behind economic development. Women entrepreneurship in Zimbabwe has stood the test of time, however, the majority of these women driven enterprises have showed marginal growth signs. Given the absence of growth amongst women entrepreneurs, research aimed to consider financial management strategies by women entrepreneurs. The study identifies challenges faced by women entrepreneurs in managing business finances. Furthermore, financial management challenges (lack of financial management training, need to cater for family needs, lack of confidence in financial management skills) faced by women entrepreneurs were identified as well as the financial management skills need to be developed and or improved amongst women entrepreneurs to enhance business growth. The research concludes that, entrepreneurs should be aware that enterprise survival and growth are futile without appropriate financial management and should se...

International journal of business and management, Apr 26, 2013

Cogent Business & Management, 2021

PSL Quarterly Review, 2019

The study aims to determine the relationship between financial development and economic growth wi... more The study aims to determine the relationship between financial development and economic growth with respect to the state of institutional quality on 27 Sub-Saharan Africa countries using a five-year averaged dataset over the period 1982-2016. The findings established evidence of a U-shaped relationship between financial development and growth which entails that more (less) finance drives (retards) growth in the region. The turning point beyond which financial development begins to contribute positively on economic growth ranges between 33% and 37%. Even though the connection is not strong, the selected institutional variables also showed both a direct and an indirect positive impact on economic growth. Financial development is positive and significant when embedded in selected well-developed institutions, which implies a complementary relationship of institutions and financial development on growth. It is therefore recommended that policy makers and responsible authorities take stri...

Pénzügyi Szemle = Public Finance Quarterly, 2021

A tanulmány többféle módszert alkalmaz a zimbabwei kormányközi költségvetés-kiegyenlítés modellez... more A tanulmány többféle módszert alkalmaz a zimbabwei kormányközi költségvetés-kiegyenlítés modellezésére. A javasolt fiskális kapacitásmodell preferáltsága azon az érven nyugszik, hogy a nem igazolt vertikális költségvetési egyensúlytalanság szerkezeti kérdés, amelyre a megoldás a bevételeket vagy kiadásokat illető felelősség különböző kormányzati szintek között történő átcsoportosítása. Az általunk javasolt fiskális kapacitásmodellt öt változó támasztja alá, nevezetesen a nemzeti költségvetésben meghatározott teljes összeg, a szegénységi mutató (a szegénység elterjedtségének aránya), a terület népessége, a helyi gazdaság mérete (bevétel/GDP arány) és a terület altalajában rejlő természeti erőforrások becsült belső értéke.

Upsurge in bank failure cases under a more stable currency environment are rare, but the Zimbabwe... more Upsurge in bank failure cases under a more stable currency environment are rare, but the Zimbabwean case raised a lot of questions, which justified the need to deeply investigate sources of bank failures. This is considered an imperative move considering the impact that bank failures pose to stakeholders outside the banking sector such as investors and depositors, the Zimbabwean banking sector itself as well as the entire economy. This study investigated the determinants of bank failures in Zimbabwe under the multicurrency environment. The study employed pooled logit estimator using general to specific logit estimation procedure on fourteen banks by making use of 2009–2012 panel data. Empirical findings indicated that the macroeconomic environment, in particular GDP growth rate, has much influence on bank failure than any other bank fundamental. Among bank fundamentals, liquidity, profitability and capitalisation proved to be prominent bank related determinants of bank failures in t...

There was troublesome development in non-performing loans since the inception of multiple-currenc... more There was troublesome development in non-performing loans since the inception of multiple-currency regime in Zimbabwe. The study investigated determinants of nonperforming loans in Zimbabwe using a panel of eight (8) banks. Using decomposed monthly data from 2009 to 2013, a combination of static and dynamic panel regression models were applied. Findings revealed that non-performing loans are influenced by microeconomic, macroeconomic and political factors. Results supported quiet life hypothesis. Based on this hypothesis, we identified that interest rates had strong positive nexus with non-performing loans and that they create a platform that threatens realization of the financial inclusion objective in Zimbabwe due to recurring cycles in Non-performing loans (NPLs).Interestingly both dynamic models managed to capture influence of Government of National Unity (GNU) on NPLs in Zimbabwe. We found negative association between GNU and NPLs and results were in line with our expectations....

MNOs have grabbed the unbanked market including the rural areas that traditional banks have fail... more MNOs have grabbed the unbanked market including the rural areas that traditional banks have failed to access, traditional banks have been experiencing a decrease in the level of activity, including liquidity shortages, low deposits and limited credit availability. The MNOs have lower charges for transacting, and offer more convenience and accessibility as opposed to traditional banks. Interoperability between traditional banks and MNOs has been riddled with challenges from the main stream banking sector. The paper seeks to find out if the traditional banking sector is indeed under threat from the use of the mobile money transfer system (MMTS) and if the two can harmonise their role in the market and operate together to the benefit of the Zimbabwean citizens. A quantitative study was adopted for the study with a view to gather information from mobile network operators. The population of agents for the three MNOs was 750, The 254 questionnaires were distributed to systemati...

British Journal of Economics, Management & Trade, 2015

International Journal of Economics and Finance, 2014

African Development Review, 2004

Abstract: This paper seeks to empirically explore the causal link between the level of financial... more Abstract: This paper seeks to empirically explore the causal link between the level of financial development and economic growth in 13 sub-Saharan African countries. The empirical investigation is carried out in a vector autoregression (VAR) framework based on the theory of cointegration and error-correction representation of cointegrated variables. The results of the cointegration analysis provide evidence of the existence of a long-run relationship between financial development and economic growth in almost all (12 out of 13) of the countries. With respect to the direction of long-term causality, the results show that financial development plays a causal role on economic growth, again in eight of the countries. At the same time, evidence of bidirectional causal relationships is found in six countries. The findings imply that African countries can accelerate their economic growth by improving their financial systems.

Education and Information Technologies, 2022

Pénzügyi Szemle = Public Finance Quarterly, 2021

The paper deploys a mixed method approach in modelling intergovernmental fiscal equalisation in Z... more The paper deploys a mixed method approach in modelling intergovernmental fiscal equalisation in Zimbabwe. The desirability of the proposed fiscal capacity model is premised on the argument that the anecdotal vertical fiscal imbalance is a structural issue whose antidote is reassignment of revenue or expenditure responsibilities among different governmental tiers. The fiscal capacity model, as we have proposed, is underpinned by five variables, namely, total amount to be allocated as declared in the national budget, poverty index (poverty prevalence rate), population of the area, size of the local economy (revenue/GDP ratio) and the estimated intrinsic value of the sub-soil natural resource endowments of the area.

Small to Medium Enterprise sector world over have been the driving force behind economic developm... more Small to Medium Enterprise sector world over have been the driving force behind economic development. Women entrepreneurship in Zimbabwe has stood the test of time, however, the majority of these women driven enterprises have showed marginal growth signs. Given the absence of growth amongst women entrepreneurs, research aimed to consider financial management strategies by women entrepreneurs. The study identifies challenges faced by women entrepreneurs in managing business finances. Furthermore, financial management challenges (lack of financial management training, need to cater for family needs, lack of confidence in financial management skills) faced by women entrepreneurs were identified as well as the financial management skills need to be developed and or improved amongst women entrepreneurs to enhance business growth. The research concludes that, entrepreneurs should be aware that enterprise survival and growth are futile without appropriate financial management and should se...