Search results for: Fikremariam Beyene

Authors: Fikremariam Beyene, Getachew Bekele

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Ethiopia is currently on the move with various projects to raise the amount of power generated in the country. The progress observed in recent years indicates this fact clearly and indisputably. The rural electrification program, the modernization of the power transmission system, the development of wind farm is some of the main accomplishments worth mentioning. As it is well known, currently, wind power is globally embraced as one of the most important sources of energy mainly for its environmentally friendly characteristics, and also that once it is installed, it is a source available free of charge. However, integration of wind power plant with an existing network has many challenges that need to be given serious attention. In Ethiopia, a number of wind farms are either installed or are under construction. A series of wind farm is planned to be installed in the near future. Ashegoda Wind farm (13.2°, 39.6°), which is the subject of this study, is the first large scale wind farm under construction with the capacity of 120 MW. The first phase of 120 MW (30 MW) has been completed and is expected to be connected to the grid soon. This paper is concerned with the investigation of the wind farm interaction with the national grid under transient operating condition. The main concern is the fault ride through (FRT) capability of the system when the grid voltage drops to exceedingly low values because of short circuit fault and also the active and reactive power behavior of wind turbines after the fault is cleared. On the wind turbine side, a detailed dynamic modelling of variable speed wind turbine of a 1 MW capacity running with a squirrel cage induction generator and full-scale power electronics converters is done and analyzed using simulation software DIgSILENT PowerFactory. On the Ethiopian electric power corporation side, after having collected sufficient data for the analysis, the grid network is modeled. In the model, a fault ride-through (FRT) capability of the plant is studied by applying 3-phase short circuit on the grid terminal near the wind farm. The results show that the Ashegoda wind farm can ride from voltage deep within a short time and the active and reactive power performance of the wind farm is also promising.

Keywords: squirrel cage induction generator, active and reactive power, DIgSILENT PowerFactory, fault ride-through capability, 3-phase short circuit

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Authors: Hunachew Beyene Mengesha, Biruck Desalegn Yirsaw

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Owing to the dramatic expansion of universities in Ethiopia, understanding the composition and nature of solid waste at the source of generation plays an important role in designing a program for an integrated waste management program. In this study, we report the quantity, quality and recycling potential of the waste generated in the three campuses of the Hawassa University, Southern Ethiopia. A total of 3.5 tons of waste was generated per day in the three campuses of the university. More than 95% of the waste constituents were with potential to be recovered. It was a lesson from the study that there was no source reduction, recycling, composting, proper land filling or incineration practices in-place. The considerably high waste generation associated with the expansion of educational programs in the university appears worthwhile requiring implementation of programs for an integrated solid waste management to minimize health risk to humans and reduce environmental implications as a result of improper handling and disposal of wastes.

Keywords: Hawassa University, integrated solid waste management, solid waste generation, energy management, waste management

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Authors: Zelalem Bitew, Adane Kassa, Beyene Misgan

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In this study, a sensitive and selective voltammetric method based on poly(diphenylamine-4-sulfonic acid) modified glassy carbon electrode (poly(DPASA)/GCE) was developed for determination of gallic acid. Appearance of an irreversible oxidative peak at both bare GCE and poly(DPASA)/GCE for gallic acid with about three folds current enhancement and much reduced potential at poly(DPASA)/GCE showed catalytic property of the modifier towards oxidation of gallic acid. Under optimized conditions, Adsorptive stripping square wave voltammetric peak current response of the poly(DPASA)/GCE showed linear dependence with gallic acid concentration in the range 5.00 × 10-7 − 3.00 × 10-4 mol L-1 with limit of detection of 4.35 × 10-9. Spike recovery results between 94.62-99.63, 95.00-99.80 and 97.25-103.20% of gallic acid in honey, raw peanut, and commercial peanut butter samples respectively, interference recovery results with less than 4.11% error in the presence of uric acid and ascorbic acid, lower LOD and relatively wider dynamic range than most of the previously reported methods validated the potential applicability of the method based on poly(DPASA)/GCE for determination of gallic acid real samples including in honey and peanut samples.

Keywords: gallic acid, diphenyl amine sulfonic acid, adsorptive anodic striping square wave voltammetry, honey, peanut

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Authors: Belete B. Beyene, Ayenew M. Mihirteu, Misganaw T. Ayana, Amogne W. Yibeltal

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Modification of synthetic porphyrins is one of the promising strategies in an attempt to get molecules with desired properties and applications. Here in, we report synthesis, photophysical characterization and antibacterial activity of 5, 10, 15, 20-tetrakis-(4- methoxy carbonyl phenyl) porphyrin M(II); where M = Co, Fe, Ni, Zn. Metallation of the ligand was confirmed by using UV–Vis spectroscopy and ESI-Ms measurement, in which the number of Q bands in absorption spectra of the ligand decreased from four to one or two as a result of metal insertion to the porphyrin core. The antibacterial activity study of the complexes toward two Gram-positive (Staphylococcus aureus (S. aureus) and Streptococcus pyogenes (s. pyogenes)) and two Gram-negative (Escherichia coli (E. coli) and Klebsiella pneumoniae (K. pneumoniae)) bacteria by disc diffusion method showed a promising inhibitory activity. The complexes exhibited highest activities at highest concentration and were better than the activity of free base ligand, the salts, and blank solution. This could be explained on the basis of Overton's concept of cell permeability and Tweed's Chelation theory. An increased lipo-solubility enhances the penetration of the complexes into the lipid membrane and interferes with the normal activities of the bacteria. Our study, therefore, showed that the growth inhibitory effect of these metalloporphyrins is generally in order of ZnTPPCOOMe > NiTPPCOOMe > CoTPPCOOMe> FeTPPCOOMe, which may be attributed to the better lipophilicity and binding of the complex with the cellular components.

Keywords: porphyrins, metalloporphyrins, spectral property, antibacterial activity, synthesis

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Authors: Mestawot Beyene Tafese, Erika Kopp

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Sustainable development, aimed at meeting current needs while safeguarding the needs of future generations, is a global imperative. Higher education stands as a pivotal force in fostering sustainable values and behaviors. However, most scholars and governments primarily focus on environmental and economic aspects. Consequently, this study examines the distribution patterns of higher education for social sustainability. The study highlights overall annual scientific production trends, leading journals and countries in scientific publication, most researched topics, and frequently used keywords. The study utilized a bibliometric method with the aid of the R Studio program. The analysis reveals Sustainability (Switzerland) as the leading journal, with 292 articles published, followed by the International Journal of Sustainability in Higher Education, which published 186 articles. Additionally, the USA is identified as the leading country, with Spain ranking second in producing research related to higher education for socially sustainable development. Among the 54 African countries, only South Africa ranks 13th, contributing fifty-nine scientific articles. Furthermore, higher education for sustainability, sustainable education, sustainable development goals, etc., emerge as the most researched topics, while the term "higher education" is prevalent in 29% and "sustainability" in 28% of the documents. Notably, according to the analysis, social sustainability is the focus of only 3% of articles. This suggests that academics researching sustainable development and higher education have overlooked social sustainability, a crucial human component of sustainable development. Consequently, the researchers concluded that social academics who are interested in studying sustainable development and higher education should give priority to social sustainability.

Keywords: higher education, bibliometric analysis, social sustainability, sustainable development

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Authors: Yonas Lamore, Abebe Beyene, Samuel Fekadu, Moa Megersa

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Unaffordable construction cost of conventional water treatment plant and distribution system in most developing countries makes difficult to provide safe and adequate water for all households, especially for the rural setup. Water treatment at the source can be the best alternative. Solar disinfection is one alternative among point of use treatments. In this study, aqua lens, photovoltaic box and glass bottle were used subsequent to plant coagulants to evaluate microbial reduction potentials. Laboratory- and field-based experiments were conducted from May to August 2016. The Escherichia coli, total coliforms and heterotrophic plate counts were used as indicator organisms. The result indicated that aqua lens (AL), photovoltaic box (PV) and glass bottle (GB) have high inactivation rate subsequently almost for all indicator organisms in short solar exposure time. Total coliforms were inactivated in AL (SD = 15.8 °C, R2 = 0.92) followed by PV inactivation temperature associa- tion (SD = 11.6 C, R2 = 0.90), and the GB concentrator was inactivated (SD = 10.9 °C, R2 = 0.70) at turbidity level of 3.41 NTU. As the study indicated, aqua lens coupled with Moringa oleifera coagulant can be an effective with minimum cost for household water treatment system. The study also concludes heterotrophic bacteria were more resistant than other types of bacteria in SODIS with similar exposure time.

Keywords: acrylic glass, aqua lens, moringa olifera, photovoltaic box, solar disinfection, water treatment

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Authors: Haftu Hailu Berhe, Hailekiros Sibhato Gebremichael, Kinfe Tsegay Beyene, Haileselassie Mehari

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The purpose of the study is to develop and validate integrated literature-based JIT, TQM, TPM, SCM and LSS framework through a combination of the PDCA cycle and DMAIC methodology. The study adopted a mixed research approach. Accordingly, the qualitative study employed to develop the framework is based on identifying the uniqueness and common practices of JIT, TQM, TPM, SCM and LSS initiatives, the existing practice of the integration, identifying the existing gaps in the framework and practices, developing new integrated JIT, TQM, TPM, SCM and LSS practice framework. Previous very few studies of the uniqueness and common practices of the five initiatives are preserved. Whereas the quantitative study working to validate the framework is based on empirical analysis of the self-administered questionnaire using a statistical package for social science. A combination of the PDCA cycle and DMAIC methodology stand integrated CI framework is developed. The proposed framework is constructed as a project-based framework with five detailed implementation phases. Besides, the empirical analysis demonstrated that the proposed framework is valuable if adopted and implemented correctly. So far, there is no study proposed & validated the integrated CI framework within the scope of the study. Therefore, this is the earliest study that proposed and validated the framework for manufacturing industries. The proposed framework is applicable to manufacturing industries and can assist in achieving competitive advantages when the manufacturing industries, institutions and government offer unconditional efforts in implementing the full contents of the framework.

Keywords: integrated continuous improvement framework, just in time, total quality management, total productive maintenance, supply chain management, lean six sigma

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Authors: Belaynesh Tsegay Beyene, Teklay Gebrecherkos, Atsebaha Gebrekidan Kahsay, Mahmud Abdulkader

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Background: Hepatitis B and C viruses are of important health and socioeconomic problem of the globe with remarkable diseases and deaths in Sub-Saharan African countries. The burden of hepatitis is unknown in the prison settings of Tigrai. Therefore, we aimed to describe the seroprevalence and associated factors of hepatitis B and C viruses among prisoners of Tigrai, Ethiopia. Methods: A cross-sectional study was carried out from February 2020 to May 2020 at the prison facilities of Tigrai. Demographics and associated factors were collected from 315 prisoners prospectively. Five milliliter of blood was collected and tested using rapid tests kits of HBsAg (Zhejiang orient Gene Biotech Co., Ltd., China) and HCV antibodies (Volkan Kozmetik Sanayi Ve Ticaret Ltd. STI, Turkey). Positive samples were confirmed using enzyme-linked immunosorbent assay (ELISA) (Beijing Wantai Biological Pharmacy Enterprise Co. Ltd). Data were analyzed using Statistical Package for Social Sciences (SPSS) version 20 and p < 0.05 was considered statistically significant. Results: The overall seroprevalence of HBV and HCV were 25 (7.9%) and 1(0.3%), respectively. The majority of hepatitis B viral infections were identified from the age groups of 18-25 years (10.7%) and unmarried prisoners (11.8%). Prisoners greater than 100 per cell [AOR =3.95, 95% CI= (1.15, 13.6, p =0.029)] and having history of alcohol consumption [AOR =3.01, 95% CI= (1.17, 7.74, p =0.022)] were significantly associated with HBV infections. Conclusions: The seroprevalence of HBV among prisoners was nearly high or borderline (7.9%) with a very low HCV prevalence (0.3%). HBV was most prevalent among young adults, large number of prisoners per cell and those who had history of alcohol consumption. This study recommends that there should be prison-focused intervention including regular health education by emphasis on the mode of transmission and introducing HBV screening policy for prisoners especially when they enter to the prison.

Keywords: seroprevalence, HBV, HCV, prisoners, Tigrai

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Authors: Tina Beyene

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In this paper examines the state of grassroots feminist activism in the backdrop of state feminism in Ethiopia. Specifically, I examine the impact of the Charities and Societies Proclamation (aka CSO law), a 2009 law that banned so-called foreign NGOs—i.e., those receiving more than 10% of its operating budget from non-local sources— from working in the areas of human rights, democracy, governance, and gender equality. Viewed as government retribution for the NGO opposition to the government in the 2005 elections, the law aimed to halt the work groups such as the Ethiopian Women Lawyers Association (EWLA), who were defined as a “foreign” NGO. Based on interviews with prominent Ethiopian women’s rights leaders in Addis Ababa, Ethiopia, I assess how grassroots feminist organizing adapts to state suppression on the one hand, and the aggressive entry of the state into women’s rights work on the other hand. While the 2009 law has slowed down the work of women’s rights activism, displaced feminists view feminist advocacy as cyclical and the state as neither fully adversarial nor an ally but rather as an instable entity that at times provides political openings to push ambitious feminist agendas. Grassroots activists are regrouping and developing new political responses strategies such as coding rights issues to fit state mandate; dissembling rights work in permissible social provision language; rechanneling political work into informal spaces and unregistered social clubs; innovating new funding partnerships, and reassembling as privately held research and advocacy companies. my study reveals how grassroots feminist politics operates in the shadow of a hostile state and within the confines of local politics.

Keywords: grassroots feminism, ethiopian feminism, civil society and gender, state feminism

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Authors: Beyene Daniel, Herbert Ntuli

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Agritourism in Eritrea is increasingly threatened by climate change, manifesting through rising temperatures, shifting rainfall patterns, and resource scarcity. This study employs quantitative methods to assess the economic and environmental impacts of climate change on agritourism, utilizing metrics such as annual income fluctuations, changes in visitor numbers, and energy consumption patterns. The methodology relies on secondary data sourced from the World Bank, government reports, and academic publications to analyze the economic viability of integrating solar energy into agritourism operations. Key variables include the Benefits from Renewable Energy (BRE), encompassing cost savings from reduced energy expenses and the monetized value of avoided greenhouse gas emissions. Using a net present value (NPV) framework, the research compares the impact of solar energy against traditional fossil fuel sources by evaluating the Value of Reduced Greenhouse Gas Emissions (CO2) and the Value of Health-Related Costs (VHRC) due to air pollution. The preliminary findings of this research are of utmost importance. They indicate that the adoption of solar energy can enhance energy independence by up to 40%, reduce operational costs by 25%, and stabilize agritourism activities in climate-sensitive regions. This research aims to provide actionable insights for policymakers and stakeholders, supporting the sustainable development of agritourism in Eritrea and contributing to broader climate adaptation strategies. By employing a comprehensive cost-benefit analysis, the study highlights the economic advantages and environmental benefits of transitioning to renewable energy in the face of climate change.

Keywords: climate change, renewable energy, resilience, cost-benefit analysis

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Authors: Beyene Daniel Abrha

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Agritourism in Eritrea is increasingly threatened by climate change, manifesting through rising temperatures, shifting rainfall patterns, and resource scarcity. This study employs quantitative methods to assess the economic and environmental impacts of climate change on agritourism, utilizing metrics such as annual income fluctuations, changes in visitor numbers, and energy consumption patterns. The methodology relies on secondary data sourced from the World Bank, government reports, and academic publications to analyze the economic viability of integrating solar energy into agritourism operations. Key variables include the Benefits from Renewable Energy (BRE), encompassing cost savings from reduced energy expenses and the monetized value of avoided greenhouse gas emissions. Using a net present value (NPV) framework, the research compares the impact of solar energy against traditional fossil fuel sources by evaluating the Value of Reduced Greenhouse Gas Emissions (CO2) and the Value of Health-Related Costs (VHRC) due to air pollution. The preliminary findings of this research are of utmost importance. They indicate that the adoption of solar energy can enhance energy independence by up to 40%, reduce operational costs by 25%, and stabilize agritourism activities in climate-sensitive regions. This research aims to provide actionable insights for policymakers and stakeholders, supporting the sustainable development of agritourism in Eritrea and contributing to broader climate adaptation strategies. By employing a comprehensive cost-benefit analysis, the study highlights the economic advantages and environmental benefits of transitioning to renewable energy in the face of climate change.

Keywords: agritourism, climate change, renewable energy, cost benefit analysis, resilience, cost-benefit analysis

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Authors: Dawit Assefa, Kassaye Tekie, Gebrie Alebachew, Degefu Beyene, Bikila Alemu, Naji Mohammed, Asnakech Agegnehu, Seble Tsehay, Geremew Tasew

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Background: Implementation of a Laboratory Quality Management System (LQMS) is critical to ensure accurate, reliable, and efficient laboratory testing of antimicrobial resistance (AMR). However, limited LQMS implementation and progress toward accreditation in the AMR surveillance laboratory testing setting exist in Ethiopia. By addressing non-conformances (NCs) and working towards accreditation, microbiology laboratories can improve the quality of their services, increase staff competence, and contribute to mitigate the spread of AMR. Methods: Using standard ISO 15189 horizontal and vertical assessment checklists, certified assessors identified NCs at Hawassa and Jimma Hospital microbiology laboratories. The Ethiopian Public Health Institute AMR mentors and IDDS staff prioritized closing the NCs through the implementation of an intensified mentorship program that included ISO 15189 orientation training, resource allocation, and action plan development. Results: For the two facilities to clear their NCs, an intensified mentorship approach was adopted by providing ISO 15189 orientation training, provision of buffer reagents, controls, standards, and axillary equipment, and facilitating equipment maintenance and calibration. Method verification and competency assessment were also conducted along with the implementation of standard operating procedures and recommended corrective actions. This approach enhanced the laboratory's readiness for accreditation. After addressing their NCs, the two laboratories applied to Ethiopian Accreditation Services for ISO 15189 accreditation. Conclusions: Clearing NCs through the implementation of intensified mentorship was crucial in preparing the two laboratories for accreditation and improving quality laboratory test results. This approach can guide other microbiology laboratories’ accreditation attainment efforts.

Keywords: non-conformance clearance, intensified mentorship, accreditation, ISO 15189

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Authors: Fitih Ademe, Kibebew Kibret, Sheleme Beyene, Mezgebu Getnet, Gashaw Meteke

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Changes in precipitation, temperature and atmospheric CO2 concentration are expected to alter agricultural productivity patterns worldwide. The interactive effects of soil moisture and nutrient availability are the two key edaphic factors that determine crop yield and are sensitive to climatic changes. The study assessed the potential impacts of climate change on maize yield and corresponding water productivity and nutrient use efficiency under climate change scenarios for the Central Rift Valley of Ethiopia by mid (2041-2070) and end century (2071-2100). Projected impacts were evaluated using climate scenarios generated from four General Circulation Models (GCMs) dynamically downscaled by the Swedish RCA4 Regional Climate Model (RCM) in combination with two Representative Concentration Pathways (RCP 4.5 and RCP8.5). Decision Support System for Agro-technology Transfer cropping system model (DSSAT-CSM) was used to simulate yield, water and nutrient use for the study periods. Results indicate that rainfed maize yield might decrease on average by 16.5 and 23% by the 2050s and 2080s, respectively, due to climate change. Water productivity is expected to decline on average by 2.2 and 12% in the CRV by mid and end centuries with respect to the baseline. Nutrient uptake and corresponding nutrient use efficiency (NUE) might also be negatively affected by climate change. Phosphorus uptake probably will decrease in the CRV on average by 14.5 to 18% by 2050s, while N uptake may not change significantly at Melkassa. Nitrogen and P use efficiency indicators showed decreases in the range between 8.5 to 10.5% and between 9.3 to 10.5%, respectively, by 2050s relative to the baseline average. The simulation results further indicated that a combination of increased water availability and optimum nutrient application might increase both water productivity and nutrient use efficiency in the changed climate, which can ensure modest production in the future. Potential options that can improve water availability and nutrient uptake should be identified for the study locations using a crop modeling approach.

Keywords: crop model, climate change scenario, nutrient uptake, nutrient use efficiency, water productivity

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Authors: Fitih Ademe, Kibebew Kibret, Sheleme Beyene, Mezgebu Getnet, Gashaw Meteke

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Pressing demands for agricultural products and its associated pressure on water availability in the semi-arid areas demanded information for strategic decision-making in the changing climate conditions of Ethiopia. Availing such information through traditional agronomic research methods is not sufficient unless supported through the application of decision-support tools. The CERES (Crop Environmental Resource Synthesis) model in DSSAT-CSM was evaluated for estimating yield and water productivity of maize under two soil types (Andosol and Luvisol) of the Central Rift Valley of Ethiopia. A six-year data (2010 – 2017) obtained from national fertilizer determination experiments were used for model evaluation. Pertinent statistical indices were employed to evaluate model performance. Following model evaluation, yield and rain-water productivity of maize was assessed for the baseline (1981-2010) and future climate (2050’s and 2080’s) scenario. The model performed well in predicting phenology, growth, and yield of maize for the different seasons and phosphorous rates. A good agreement between simulated and observed grain yield was indicated by low values of the RMSE (0.15 - 0.37 Mg/ha) and other indices for the two soil types. The evaluated model predicted a decline in the potential (23.8 to 26.7% at Melkassa and from 21.7 to 26.1% at Ziway under RCP4.5 and RCP8.5 climate change scenarios, respectively) and water-limited yield (15 to 18.3% at Melkassa and by 6.5 to 10.5% at Ziway) in the mid-century due to climate change. Consequently, a decline in water productivity was projected in the future periods that necessitate availing options to improve water productivity in the region. In conclusion, the DSSAT-CERES-maize model can be used to simulate maize (Melkassa-2) phenology, growth and grain yield, as well as simulate water productivity under different management scenarios that can help to identify options to improve water productivity in the changing climate of the semi-arid central Rift valley of Ethiopia.

Keywords: andosol, CERES-maize, luvisol, model evaluation, water productivity

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Authors: Fitih Ademe, Kibebew Kibret, Sheleme Beyene, Mezgebu Getnet, Gashaw Meteke

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Soil moisture and nutrient availability are the two key edaphic factors that affect crop yields and are directly or indirectly affected by climate variability and change. The study examined climate-induced yield level, yield variability and gap of maize during 1981-2010 main growing season in the Central Rift Valley (CRV) of Ethiopia. Pearson correlation test was employed to see the relationship between climate variables and yield. The coefficient of variation (CV) was used to analyze annual yield variability. Decision Support System for Agro-technology Transfer cropping system model (DSSAT-CSM) was used to simulate the growth and yield of maize for the study period. The result indicated that maize grain yield was strongly (P<0.01) and positively correlated with seasonal rainfall (r=0.67 at Melkassa and r = 0.69 at Ziway) in the CRV while day temperature affected grain yield negatively (r= -0.44) at Ziway (P<0.05) during the simulation period. Variations in total seasonal rainfall at Melkassa and Ziway explained 44.9 and 48.5% of the variation in yield, respectively, under optimum nutrition. Following variation in rainfall, high yield variability (CV=23.5%, Melkassa and CV=25.3%, Ziway) was observed for optimum nutrient simulation than the corresponding nutrient limited simulation (CV=16%, Melkassa and 24.1%, Ziway) in the study period. The observed farmers’ yield was 72, 52 and 43% of the researcher-managed, water-limited and potential yield of the crop, respectively, indicating a wide maize yield gap in the region. The study revealed rainfed crop production in the CRV is prone to yield variabilities due to its high dependence on seasonal rainfall and nutrient level. Moreover, the high coefficient of variation in the yield gap for the 30-year period also foretells the need for dependable water supply at both locations. Given the wide yield gap especially during lower rainfall years across the simulation periods, it signifies the requirement for a more dependable application of irrigation water and a potential shift to irrigated agriculture; hence, adopting options that can improve water availability and nutrient use efficiency would be crucial for crop production in the area.

Keywords: climate variability, crop model, water availability, yield gap, yield variability

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Authors: Ashenafi Beyene Fanta, Daniel Makina

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Economic theory predicts that finance promotes economic growth. Although the finance-growth link is among the most researched areas in financial economics, our understanding of the link between the two is still incomplete. This is caused by, among others, wrong econometric specifications, using weak proxies of financial development, and inability to address the endogeneity problem. Studies on the finance growth link in South Africa consistently report economic growth driving financial development. Early studies found that economic growth drives financial development in South Africa, and recent studies have confirmed this using different econometric models. However, the monetary aggregate (i.e. M2) utilized used in these studies is considered a weak proxy for financial development. Furthermore, the fact that the models employed do not address the endogeneity problem in the finance-growth link casts doubt on the validity of the conclusions. For this reason, the current study examines the finance growth link in South Africa using data for the period 1990 to 2011 by employing a generalized method of moments (GMM) technique that is capable of addressing endogeneity, simultaneity and omitted variable bias problems. Unlike previous cross country and country case studies that have also used the same technique, our contribution is that we account for the development of bond markets and non-bank financial institutions rather than being limited to stock market and banking sector development. We find that bond market development affects economic growth in South Africa, and no similar effect is observed for the bank and non-bank financial intermediaries and the stock market. Our findings show that examination of individual elements of the financial system is important in understanding the unique effect of each on growth. The observation that bond markets rather than private credit and stock market development promotes economic growth in South Africa induces an intriguing question as to what unique roles bond markets play that the intermediaries and equity markets are unable to play. Crucially, our results support observations in the literature that using appropriate measures of financial development is critical for policy advice. They also support the suggestion that individual elements of the financial system need to be studied separately to consider their unique roles in advancing economic growth. We believe that our understanding of the channels through which bond market contribute to growth would be a fertile ground for future research.

Keywords: bond market, finance, financial sector, growth

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