An empirical application of the Tobin’s Q theory in housing investments in South Africa
- Authors: Sitima, Innocent
- Date: 2013
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11474 , http://hdl.handle.net/10353/d1013581
- Description: This study examines the patterns in the housing investments in South Africa in an attempt to understand if the possibility of the Tobin Q can be used to interpret the patterns and trends in the South African residential investments. The study, in its quest to explore and expose this intermporal relationship, it makes use of the South African annual time series data from 1960- 2010. The data was computed in different economic and econometric analysis software for better and reliable output, depending on the different level econometric technique that is required and need to be captured by the study. The dynamic investment equation is estimated using general- to- specific ARDL approach to magnify this connection and trends. The study established that combined asset prices and the levels of residential investment affect the long run investment performance rather than the Tobin Q. In the short run the lagged values of the Q, Business investment and residential investments seemed to be influential driving forces of private investment in South Africa. Even if the capital reserves in South Africa seem to be healthy, there is always a dire call for policy to be geared in the direction of the accessibility of credit to guarantee a supplementary conducive investment climate.
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- Authors: Sitima, Innocent
- Date: 2013
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11474 , http://hdl.handle.net/10353/d1013581
- Description: This study examines the patterns in the housing investments in South Africa in an attempt to understand if the possibility of the Tobin Q can be used to interpret the patterns and trends in the South African residential investments. The study, in its quest to explore and expose this intermporal relationship, it makes use of the South African annual time series data from 1960- 2010. The data was computed in different economic and econometric analysis software for better and reliable output, depending on the different level econometric technique that is required and need to be captured by the study. The dynamic investment equation is estimated using general- to- specific ARDL approach to magnify this connection and trends. The study established that combined asset prices and the levels of residential investment affect the long run investment performance rather than the Tobin Q. In the short run the lagged values of the Q, Business investment and residential investments seemed to be influential driving forces of private investment in South Africa. Even if the capital reserves in South Africa seem to be healthy, there is always a dire call for policy to be geared in the direction of the accessibility of credit to guarantee a supplementary conducive investment climate.
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An exploratory study of female labour force participation in South Africa: 1995 - 2010
- Authors: Mahali, Lesala
- Date: 2013
- Subjects: Labor markets -- South Africa , Unemployment -- South Africa , Labor supply -- South Africa , Women -- Employment -- South Africa , Role conflict , Women employees -- South Africa
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11465 , http://hdl.handle.net/10353/d1007050 , Labor markets -- South Africa , Unemployment -- South Africa , Labor supply -- South Africa , Women -- Employment -- South Africa , Role conflict , Women employees -- South Africa
- Description: The role that women play in the economy of any society is a desirable goal for equity and efficiency considerations. Just as with the rest of the world, the South African women lagged behind their male counterparts within the economic empowerment space and in the formal labour force. However, the role of women has undergone some transformations with issues relating to employment opportunities, such that their labour force participation has risen considerably since 1994. The female labour force participation rate is still seen to be persistently lower compared to the male participation rate even in the second decade of democracy. The rate of women labour force participation is even lower than the average. On the other hand, the increases have also been coupled with the rising rate of unemployment among women. The objective of this study was to investigate the determinants of female labour force participation in the South African labour market. The study uses a regression analysis on a cross sectional panel data covering a period of 1995 to 2010. Unlike most popular beliefs, the findings of this study reveal that fertility though not statistically significant, positively influences labour force participation of women. Other variables that are statistically significant in explaining female labour force are HIV/AIDS, marital status, age, household income and education. Race was found to be insignificant in explaining female labour force participation in the South African labour force.
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- Authors: Mahali, Lesala
- Date: 2013
- Subjects: Labor markets -- South Africa , Unemployment -- South Africa , Labor supply -- South Africa , Women -- Employment -- South Africa , Role conflict , Women employees -- South Africa
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11465 , http://hdl.handle.net/10353/d1007050 , Labor markets -- South Africa , Unemployment -- South Africa , Labor supply -- South Africa , Women -- Employment -- South Africa , Role conflict , Women employees -- South Africa
- Description: The role that women play in the economy of any society is a desirable goal for equity and efficiency considerations. Just as with the rest of the world, the South African women lagged behind their male counterparts within the economic empowerment space and in the formal labour force. However, the role of women has undergone some transformations with issues relating to employment opportunities, such that their labour force participation has risen considerably since 1994. The female labour force participation rate is still seen to be persistently lower compared to the male participation rate even in the second decade of democracy. The rate of women labour force participation is even lower than the average. On the other hand, the increases have also been coupled with the rising rate of unemployment among women. The objective of this study was to investigate the determinants of female labour force participation in the South African labour market. The study uses a regression analysis on a cross sectional panel data covering a period of 1995 to 2010. Unlike most popular beliefs, the findings of this study reveal that fertility though not statistically significant, positively influences labour force participation of women. Other variables that are statistically significant in explaining female labour force are HIV/AIDS, marital status, age, household income and education. Race was found to be insignificant in explaining female labour force participation in the South African labour force.
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Impact of oil price on tourism in South Africa: an error correction model (ECM) analysis
- Authors: Gqozo, Pamela
- Date: 2013
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11486 , http://hdl.handle.net/10353/d1017941
- Description: The study focuses on the impact of oil price on tourism in South Africa. Quarterly time series data for the period 1990 to 2012 was used in this study. Error correction model is the research instrument that was used to determine the impact of oil price on tourism in South Africa. The explanatory variables in this study are oil price, real exchange rates, gross domestic product, consumer price index and transport infrastructure investment. The results of the study revealed that oil price, consumer price index and real exchange rate have a negative long run relationship on tourism, while gross domestic product and transport infrastructure investment had a positive long run relationship on tourism. It was also shown that oil price is statistically significant relationship on tourism.
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- Authors: Gqozo, Pamela
- Date: 2013
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11486 , http://hdl.handle.net/10353/d1017941
- Description: The study focuses on the impact of oil price on tourism in South Africa. Quarterly time series data for the period 1990 to 2012 was used in this study. Error correction model is the research instrument that was used to determine the impact of oil price on tourism in South Africa. The explanatory variables in this study are oil price, real exchange rates, gross domestic product, consumer price index and transport infrastructure investment. The results of the study revealed that oil price, consumer price index and real exchange rate have a negative long run relationship on tourism, while gross domestic product and transport infrastructure investment had a positive long run relationship on tourism. It was also shown that oil price is statistically significant relationship on tourism.
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The impact of a budget deficit on transport infrastructure investment in South Africa
- Authors: Nanto, Aphiwe
- Date: 2013
- Subjects: Budget deficits -- South Africa , Infrastructure (Economics) -- South Africa , Transportation -- South Africa , Debts, Public -- South Africa
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11478 , http://hdl.handle.net/10353/d1015245 , Budget deficits -- South Africa , Infrastructure (Economics) -- South Africa , Transportation -- South Africa , Debts, Public -- South Africa
- Description: Persistent government budget deficits and government debt have become major concerns in both developed and developing countries. This study investigates the impact of a budget deficit on transport infrastructure investment in South Africa. Quarterly time series data, covering the period 1990q1- 2009q4, was used in this project. The study tests for stationarity using the Augmented Dickey- Fuller and Phillips Perron; it tests for cointegration using the Johansen (1991, 1995) methodology. A vector error correction model is used as an estimation technique. The results of this study show that a budget deficit has a negative impact on transport infrastructure investment in South Africa.
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- Authors: Nanto, Aphiwe
- Date: 2013
- Subjects: Budget deficits -- South Africa , Infrastructure (Economics) -- South Africa , Transportation -- South Africa , Debts, Public -- South Africa
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11478 , http://hdl.handle.net/10353/d1015245 , Budget deficits -- South Africa , Infrastructure (Economics) -- South Africa , Transportation -- South Africa , Debts, Public -- South Africa
- Description: Persistent government budget deficits and government debt have become major concerns in both developed and developing countries. This study investigates the impact of a budget deficit on transport infrastructure investment in South Africa. Quarterly time series data, covering the period 1990q1- 2009q4, was used in this project. The study tests for stationarity using the Augmented Dickey- Fuller and Phillips Perron; it tests for cointegration using the Johansen (1991, 1995) methodology. A vector error correction model is used as an estimation technique. The results of this study show that a budget deficit has a negative impact on transport infrastructure investment in South Africa.
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The impact of fatal road accidents on the South African economy (1997-2011)
- Authors: Siswana, Babalwa
- Date: 2013
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11475 , http://hdl.handle.net/10353/d1013591
- Description: The purpose of the study is to examine the impact of fatal road accidents on the South African economy. The study used quarterly time series data for the period 1997 to 2011. A Johansen cointegration and vector error correction model (VCEM) was used to determine the impact of fatal road accidents on the South African economy. The explanatory variables in this study are labour productivity, real interest rates, unemployment and real exchange rates. Results from this study revealed that fatal road accidents have negatively impacted on the economic growth in South Africa while labour productivity, real interest rates, unemployment and real exchange rates have a positive long-run impact on economic growth in South Africa. This study recommends that road safety measures must be intensified in South Africa in order to maximize the benefits of economic growth. Keywords: Economic growth, fatal road accidents, South Africa
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- Authors: Siswana, Babalwa
- Date: 2013
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11475 , http://hdl.handle.net/10353/d1013591
- Description: The purpose of the study is to examine the impact of fatal road accidents on the South African economy. The study used quarterly time series data for the period 1997 to 2011. A Johansen cointegration and vector error correction model (VCEM) was used to determine the impact of fatal road accidents on the South African economy. The explanatory variables in this study are labour productivity, real interest rates, unemployment and real exchange rates. Results from this study revealed that fatal road accidents have negatively impacted on the economic growth in South Africa while labour productivity, real interest rates, unemployment and real exchange rates have a positive long-run impact on economic growth in South Africa. This study recommends that road safety measures must be intensified in South Africa in order to maximize the benefits of economic growth. Keywords: Economic growth, fatal road accidents, South Africa
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The impact of foreign debt on economic growth in South Africa
- Authors: Shayanewako, V B
- Date: 2013
- Subjects: Debts, External -- South Africa -- Eastern Cape , Investments, Foreign -- South Africa , Government spending policy -- South Africa , Economic development -- South Africa
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11477 , http://hdl.handle.net/10353/d1015140 , Debts, External -- South Africa -- Eastern Cape , Investments, Foreign -- South Africa , Government spending policy -- South Africa , Economic development -- South Africa
- Description: This study analyses the economic impact between foreign debt and economic growth in South Africa. By fitting a production function model to annual data for the period 1980-2011, the study examines the dynamic effect of debt service, capital stock and labour force on the economic growth of the country. By following Cunningham (1993), it has identified the long-run and short-run causal relationships among the included variables. The results indicate that the debt servicing burden has a negative effect on the productivity of labour and capital, and thereby affect economic growth adversely. The results also illustrate that the debt service ratio tends to negatively affect GDP and the rate of economic growth in the long-run, which, in turn, reduces the ability of the country to service its debt. Similarly, the estimated error correction term shows the existence of a significant long-run causal relationship among the specified variables. Overall, the results suggest the existence of short-run and long-run causal relationships running from debt service to GDP.
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- Authors: Shayanewako, V B
- Date: 2013
- Subjects: Debts, External -- South Africa -- Eastern Cape , Investments, Foreign -- South Africa , Government spending policy -- South Africa , Economic development -- South Africa
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11477 , http://hdl.handle.net/10353/d1015140 , Debts, External -- South Africa -- Eastern Cape , Investments, Foreign -- South Africa , Government spending policy -- South Africa , Economic development -- South Africa
- Description: This study analyses the economic impact between foreign debt and economic growth in South Africa. By fitting a production function model to annual data for the period 1980-2011, the study examines the dynamic effect of debt service, capital stock and labour force on the economic growth of the country. By following Cunningham (1993), it has identified the long-run and short-run causal relationships among the included variables. The results indicate that the debt servicing burden has a negative effect on the productivity of labour and capital, and thereby affect economic growth adversely. The results also illustrate that the debt service ratio tends to negatively affect GDP and the rate of economic growth in the long-run, which, in turn, reduces the ability of the country to service its debt. Similarly, the estimated error correction term shows the existence of a significant long-run causal relationship among the specified variables. Overall, the results suggest the existence of short-run and long-run causal relationships running from debt service to GDP.
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