Browsing by Author "Teshome, Tilahun ( Professor)"
Item Bond Issuance and Regulation in Ethiopia: the Case of Grand Renaissance Dam Bonds(Addis Ababa University, 2014-06) Fentie, Woldetinsae; Teshome, Tilahun ( Professor)Bond issuance and its market in Ethiopia are at their rudimentary stage and have long distance to go. Well developed goverJU11ent bond market can assist economic development in general and infrastructure development endeavors in particular. Government bond issuance in Ethiopia is not guided and supported by well designed legal and institutional frameworks. Such kind of government bond issuance will leave its own black point on future developments of government bond market and so requires great deal of care. Regulation of government bond issuance and their circulation in secondary markets will be preliminary considerations in any capital markets building. The author of this study found that despite government bond issuance in Ethiopia including the issuance of GRDBs, it is not based on full-fledged legal and institutional frameworks. Government bonds market needs many measures including cultivating institutional and normative spheres for its development There are many factors that policy makers should consider in developing government securities markets. Sufficient regulation both in primary and secondary markets is yet to be designed. For instance some institutiuns whi(;h are crucial elements of government bond market like central depositories and settlement centers are not available. Likewise government bond market in Ethiopia is not lucky in utilizing financial intermediaries that are called underwriting or syndicate groups which will serve as market makers. These institutions would assist the bonds distribution to a considerable extent Keywords: Government bond, primary market, secondary market, financial intermediaries, underwriters, long term debt instruments, capital market, money marketItem Bond Issuance and Regulation in Ethiopia: The Case of Grand Renaissance Dam Bonds(Addis Ababa University, 2014-06) Fentie, Woldetinsae; Teshome, Tilahun ( Professor)Bond issuance and its market in Ethiopia are at their rudimentary stage and have long distance to go. Well developed government bond market can assist economic development in general and infrastructure development endeavors in particular. Government bond issuance in Ethiopia is not guided and supported by well designed legal and institutional frameworks. Such kind of government bond issuance will leave its own black point on future developments of government bond market and so requires great deal of care. Regulation of government bond issuance and their circulation in secondary markets will be preliminary considerations in any capital markets building. The author of this study found that despite government bond issuance in Ethiopia including the issuance of GRDBs, it is not based on full-fledged legal and institutional frameworks. Government bonds market needs many measures including cultivating institutional and normative spheres for its development. There are many factors that policy makers should consider in developing government securities markets. Sufficient regulation both in primary and secondary markets is yet to be designed. For instance some institutions which are crucial elements of government bond market like central depositories and settlement centers are not available. Likewise government bond market in Ethiopia is not lucky in utilizing financial intermediaries that are called underwriting or syndicate groups which will serve as market makers. These institutions would assist the bonds distribution to a considerable extent. Keywords: Government bond, primary market, secondary market, financial intermediaries, underwriters, long term debt instruments, capital market, money market.Item Child Friendly Benches in Courts of the Snnprs: The Case of Hadiya Zone(Addis Ababa University, 2014-06) Petros, Democracy; Teshome, Tilahun ( Professor)The purpose of this study is to assess the implementation of child justice in criminal justice system in child-friendly benches in courts of SNNPRS with special focus in Hadiya zone. To this end, a descriptive survey is employed. Quantitative and qualitative research methodologies were administered. Questionnaires, interviews, court cases and field visits were used as data gathering tools. The responses and cases were interpreted and analyzed. The primary sources of data were judges, public prosecutors and attorneys working in Hadiya zone and concerned government body. A total of 42 respondents were selected as key participants of the study. Secondary sources of data are reports of the Central Statistic Agency on the percent of children under 18 years of age of the total population and budget allocation to the justice sector by Ministry of Finance and Economic Development of Ethiopia. Finally the quantitative data were analyzed using percentage while the qualitative ones were transcribed and analyzed. The core findings of the study are; 1st The study finds out that child friendly benches in courts of the SNNPRS and specifically in Hadiya zone are not effectively available and physically accessible for children involved in criminal justice system as a result a great majority of children in contact with the law are out of reach of child-friendly justice. 2nd The study disclose the fact that the only available court which is built in Hosanna city administration first instance court is not equipped with all relevant material, technical, professional and other aids pertaining the special needs of children in justice system. 3rd The study reveals that the court environment in most of the courts are not convenient and comfortable for child suspects, victims and witnesses of crime according to their involvement. 4th At last, the good thing is there is growing improvements though it is not in a speed that the current situations in the justice system needs for fully adopting child friendly justice in the future in Ethiopia.Item The Law and the Practice of Regulating Bank Governance in Ethiopia(Addis Ababa University, 2010-01) Azene, Genene; Teshome, Tilahun ( Professor)Item The Law of Corporate Taxation in Ethiopia(Addis Ababa University, 2010-01) G/Mariam, Berhane; Teshome, Tilahun ( Professor)The taxation of business organizations generally falls into two basic models-“Corporate” taxation and “Partnership” taxation. Corporate taxation typically imposes a tax on the income of certain types of business organizations and also taxes the profits distributed to the holders of the ownership interests. The partnership taxation model, on the other hand, taxes the income derived by the organization directly to the owners whether or not distributed. This Paper assesses the treatment of corporate taxation in the Ethiopian tax law and argues that the corporate tax issues are not properly addressed in a manner that attracts corporate business investmentItem The Legal and Institutional Frameworks for Regulating Energy Resources: The Ethiopian Context(Addis Ababa University, 2009-03) Abebe, Mollalign; Teshome, Tilahun ( Professor)Today energy becomes the most ubiquitous service and the ji-equent agenda of discussion of both developed and developing countries of the world. Their main concern is that of making use of energy resources that ensure a sustainable economic development, energy security, and environmental protection. Hence, in order to deal with the multifaceted problems of energy different countries throughout the world devised mechanisms that ensure its sustainability. Among the mechanisms being applied is the shift made away ji-om fossil filel towards renewable energy resources and energy efficiency measures. Ethiopia is endowed with vast renewable energy resources potential suitable for making a shifi ji-om the traditional biomass base energy consumption to modern energy use through electricity. The abundant hydropower, geothermal, solar, and wind energy resources must be developed to realize the shift and ensure the economic and social development of the countl)'. However, participation of the private sector in developing renewable energy resources for the generatioll of electricity is insignificant. In addition, the application of energy efficiency measures as part of energy resource sustainability remains minimal. All these limitations call for one to raise issues like: What are the main problems for the absence of private sector participation in the development of renewable energy resources for generating electricity and make use of energy efficiency measures? What are the experiences of other countries in dealing with similar problems? Is there any such "one-size fit all" model developed and applied that suit Ethiopia's specific conditiolls? !fnat, what alternative instruments can be opted as a solution? This thesis examines renewable energy resources and energy efficiency measures mainly ji-om legal, illstitutional, and regulatOlY ji-ameworks perspective emphasizing the Ethiopian ...- - ---. context. In the study, existing policy, legal, institutional, and regulatOlY frameworks of the countly are examined and internatiOl!al experiences are also explored to fill gaps of the unavailability of pertinent source materials. As part of the study possible solutions are suggested to be used by policy makers and legislature to disentangle the problem. Plus, the thesis lIIay be used as a source document for fi·trther study and research since the subject is found untouched especially in the field of law.Item The Legal Regime Regulating Coffee Trade in Ethiopia(Addis Ababa University, 2010-01) Berhe, Yared; Teshome, Tilahun ( Professor)Coffee’s role in the national economy of Ethiopia has been unparalleled for the past five or so decades particularly in generating hard currency. Presently, about 25% of Ethiopian population depends on coffee for its livelihood. Owing to this, Ethiopian governments have been regulating the industry more strictly than other agricultural sub-sectors. Regulating the industry by putting legal framework started from early 1950s. Coffee auction system in contrast was set up in 1972. The legal and institutional frameworks governing coffee trade diverges across the three governments. During the imperial government, it was relatively liberal and had fairly positive impact to the industry. During the Dergue era, on the contrary, the overall regulatory regime including the coffee auction system was highly centralized which negatively affected the industry. The Transitional Government’s market based economic policy on the other hand lifted most of the restrictions which enabled the country to export record amount of coffee. Yet, the coffee trade system including the coffee auction was similar. In August 2008, however, the Ethiopian government introduced a new legal and regulatory regime which replaced the former one. This regime, among other things, switched coffee trade from the auction system to commodity exchange model of trading. It is, however, understood in a different ways by different stakeholders. Some seriously criticized it and others applauded it. This work studies the detail contents of this new coffee trade regime and its implications to the coffee industry. The study was conducted based on document analysis, interview, and observation. The findings of the study show that the present coffee trade regime is generally good scheme for modernizing the coffee industry. Even so, there are many shortcomings arising from the very law and/or practice. This work points out the major ones and suggests some recommendations which the writer thinks to be appropriateItem Money Laundering and Countermeasures: A Critical Analysis of Ethiopian Law with Specific Reference to the Banking Sector(Addis Ababa University, 2011-03) Shiferaw, Biniam; Teshome, Tilahun ( Professor)Purpose: the purpose of this research is to critically examine the anti money laundering framework of the country, the mechanisms to fight it and to suggest ways of enhancing the effectiveness of the law in achieving its objective with specific reference to the banking sector. Design/ Methodology/ Approach: the relevant laws enacted to tackle money laundering are examined to assess their adequacy or otherwise. The research describes the fight against money laundering in Ethiopia, analyses the gaps still remaining between Ethiopia and internationally accepted standards and points out the future efforts to be made in general and from the banking perspective in particular. Findings: Ethiopia has made a remarkable progress in fighting money laundering activities; gaps however are still remaining and further efforts should be made to avoid the lacunae in the anti money laundering laws of the country as recommended. Originality/ Value: the research presents a comprehensive analysis and comment on the new anti money laundering law of the country which would be beneficial to policy makers, relevant administrators and to the banking sector. Research Limitation: the fact that the anti money laundering law is new and the required organs are under establishment, it becomes impossible to evaluate the law from pragmatic approach which constitutes an issue for further research. Freedom of information is also another chronic challenge to the writer. Key Words: Money Laundering, Ethiopia, Banking sector. Paper Type: Research PaperItem Salient Features of the New Ethiopian Urban Land Lease Holding Proclamation No.721/2011 and its Implications on the Ethiopian Economy(Addis Ababa University, 2013-01) Asgedom, Araya; Teshome, Tilahun ( Professor)This paper attempts to analyze the salient features of the new Ethiopian urban land lease holding Proclamation No.721/2011 and its implications on the Ethiopian economy. Today the new lease holding proclamation has become a burning agendum of discussion throughout the country. This proclamation prohibits the allocation of urban land other than through lease holding and designs a general direction through which all urban land holdings will in the future be converted to the lease system. Moreover, it highly restricts transfer of use right on urban land, provides unreasonably short time for commencement and completion of constructions, stipulates strict measures for failing to commence and complete construction within the time and restricts the right to appeal of aggrieved parties. In order to identify the implications of the proclamation on the Ethiopian Economy, the writer has consulted various literatures and collected information through interviews and focus group discussions with different concerned bodies. Based on this it has been founded that the changes and restrictions introduced by the proclamation have a negative bearing on the transaction of immovables i.e., land and buildings, security of tenure of urban residents, the construction industry, banking services, urban housing service, the market and investment. This in turn affects money circulation, job opportunity and the income of both individuals and the government which has a negative influence on the country’s economy. The paper also attempts to show that there is no provision under the FDRE constitution which provides that all urban residents will be allocated urban land through the lease system. It is also indicated that the lease system designed by the proclamation which in principle allows land allocation based on tender does not take in to account the capacity of most urban residents and thus such residents as they are also joint owners of the land should be allowed a plot of land based on the permit system at least for residential purposes. Moreover, it is stated that the government should not impose any restriction on transfer of properties attached with the land as long as individuals pay the required transfer tax and related charges. It is argued that the period of payment of lease, commencement and completion of construction should take in to consideration the prevailing realities on the ground. It is also recommended that the government should pay compensation at market price for the properties attached with the land and the permanent improvements on the land to the lessee when the contract of lease can’t be renewed because of the fact that the appropriate body refused to renew the lease contract when the land is needed for public interest. It is also stated that aggrieved parties should be entitled to take their appeal on all issues to the regular courts regarding urban land clearance. It has also been indicated that rather than trying to amend the proclamation through a regulation the government should amend the proclamation itself as a regulation which is enacted to implement the proclamation cannot legally amend the same.