Articles

Effect of Stock Market Development on Financial Savings in Tanzania: An Empirical Investigation (1999-2023)

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The performance of the Dar es Salaam Stock Exchange (DSE) since its inception in 1998 followed liberalization of the financial sector in 1991 has been very positive and has also demonstrated that there is huge untapped potential financial capital within the country.  For this reason, this study aimed at investigating the impact of stock market development on financial savings in Tanzania from 1999 to 2023 period using quarterly time series data. The study employs econometric analysis in which the error correction model (ECM) is applied to analyze the financial savings function. The overall significant determinants of financial savings included in the model were statistically significant. The results indicated that real GDP in both long run and short run estimation is relevant variable for explaining the variations in the financial savings in Tanzania whereas stock market in terms market capitalization is relevant variable both in the short-run and long run estimation. There is significant evidence that stock market development in Tanzania has negative effect and that it reduces financial savings function in both short run and long-run via market capitalization. The negative effect of stock market development on financial savings might poses problems to the conduct of monetary policy in Tanzania, by failing to correctly target monetary growth in the economy.

Social and Psychological Challenges Facing Orphaned Children Living in the Orphanage Centres in Tanzania

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The study aimed to assess social and psychological challenges facing orphaned children living in the orphanages in Tanzania. The motivational theory of Abraham Maslow guided this study with the use of the qualitative approach. In-depth interviews were employed to collect data from the research participants. The study was carried out in four orphanage centres within three wards in Dar es Salaam Region. A purposive sampling technique was employed to get 29 participants for this study. Specifically, the study intends to answer the following unexplored questions: i) What are the social challenges facing orphaned children living in the orphanages? ii) What are the psychological challenges facing orphaned children living in the orphanages? The findings revealed that in the orphanages orphaned children experienced various social challenges including shortage of basic needs, shortage of educational materials, and lack of sport gears as well as poor health services. They also faced psychological challenges like physical punishment, bullying behaviours from fellows, segregation, isolation and poor attachment from their caregivers. Such challenges are indicators for defining ineffectiveness of   caregivers in providing psychosocial services to orphaned children. The study concluded that in the present context, orphanages are not a good residence for orphans’ psychosocial wellbeing due to shortage of funds and presence of untrained personnel. The study recommended that, the government should formulate interventional policies and enact laws which would look after the welfare of orphaned children rather than depending on the institutional Care.