Browsing by Author "Ssekajugo, Derick"

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    An Analysis of Monetary Policies in an Uncertain Economic Environment in a Ugandan Perspective
    (International Journal of New Technology and Research, 2017) Sunday, Arthur; Byamukama, Eliab; Ssekajugo, Derick
    In recent years, progress in macroeconomic modeling was done to give new perspectives on the impact of uncertainty on the evolution of monetary policy. As, uncertainty is dominant, it is important to understand how alternative policies can be selected when the central bank cannot accurately observe the macroeconomic variables.. Therefore, the central bank of developing countries , must have at their disposal the tools for modeling the most accurate. For this reason, in this paper we try to determine the robust optimal monetary policy in an uncertain economic environment: First, we present the main types of uncertainties; we discuss the models used and their derivation. Then we show the techniques used, and how to introduce uncertainty. Finally, we present the optimal robust responses to different forms of uncertainty considered. Our approach is to estimate a dynamic macroeconomic model with three representations of the dynamics of inflation, each with microeconomic foundations for the data of the economy with Bayesian techniques. Our results show that the uncertainty of the structural parameters affect the dynamic solutions for the economy, but also on the objective functions of various agents, particularly that of the central bank. Indeed, the central bank will be more careful in certain circumstances. Increased caution with the weights carried by the interest rate in the loss function.
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    Financial management practices and business performance of small and medium enterprises in western Uganda
    (African journal of business management, 2013) Turyahebwa, Abanis; Sunday, Arthur; Ssekajugo, Derick
    Small and medium Enterprises are seen as a driving force for the promotion of an economy. The purpose of the study was to establish the relationship between financial management practices and business performance of SMEs in western Uganda with a view to establishing a coherent model directed at improving business performance and it was hypothesized that financial management practices positively influences Business performance. The study adopted a positivist (quantitative paradigm) with cross sectional and correlational designs. The study used a respondent sample of 335 SMEs operating in Mbarara, Sheema and Bushenyi whose owners/managers were the unit of enquiry. Structural Equations Modeling with Analysis of Moment Structures were used to for statistical modeling. The findings in respect of the main purpose of the study indicated that financial management practices accounted for 33.8% of the variance in business performance of SMEs. The results also indicated that working capital management influences highly since it predicts over 22% of the variance in business performance. The present study supported a multi-theoretic approach in explaining business performance of SMEs in Uganda. The study supports the pecking order theory in explaining the financing of SMEs together with resource based view as the theories that help in explaining business performance of SMEs. The study confirmed efficient financial management practices factor structure of observed variables and the latent variables. As a result, the study provided models for efficient financial management practices. These models can then used to provide a trajectory for improving business performance of SMEs in Uganda.