An appraisal of the East London Industrial Development Zone’s role in local innovation, entrepreneurship, and industrial development
- Authors: Masiwa, George Bonginkosi
- Date: 2021-02
- Subjects: Industrialization , Economic development , South Africa -- Economic conditions
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/21213 , vital:47406
- Description: This study focuses on the East London Industrial Development Zone (ELIDZ) in South Africa. The ELIDZ strategy came as a response to the need for a robust catalyst for sustainable regional economic development, industrial diversification and to create meaningful employment opportunities in the country. It was supposed to provide customised solutions for various industries including automotive, agro-processing and aqua-culture. However, an Industrial Development Zone should promote innovati on and entrepreneurship to stimulate economic growth and global competitiveness. Economic stagnation, joblessness and inequality continue to be a reality for the previously marginalised groups after 16 years of the ELIDZ despite significant investments in the automotive sector, the growth of companies that supply Mercedes Benz with parts and the establishment and growth of innovative start-up companies at the ELIDZ Science and Technology Park (STP). Massive joblessness, poverty and economic stagnation had followed the collapse of the old industrial parks. The ELIDZ strategy of industrial development came as a response to the demise of the old parks and was meant to become the main vehicle for job creation, local innovation and global competitiveness. This study therefore investigated the extent to which innovation and entrepreneurship have fared in driving sustainable local economic development and how they have impacted jobs at the ELIDZ and within the East London community. The study was qualitative in nature and employed the non-probability sampling technique. In-depth semi-structured interviews were conducted with key informants that included Industrialists, Business Executives that were tenants at the ELIDZ, the Buffalo City Municipal Metro and community members with knowledge of and association with the ELIDZ. This was augmented by desktop and observational data. It was found that innovation and entrepreneurship was still a fairly new phenomenon at the ELIDZ and their flagships had the vision but were not yet driving sustainable local economic development to a large extent. The model lacks adequate diversification as most of the innovation projects are in the renewable energy and information communication spaces. Very few have made it to mass production with downstream industry employment creation for plumbers, artisans and marketers involved in the supply, distribution, instalment and maintenance of the Hotspot and Thin-film solar panels. New industrialists like YEKANI Technologies and Manufacturing and KGI Holdings, already employ some people and have the vision to employ thousands more of young people. The main innovation and entrepreneurship projects of the ELIDZ have had some impact at the grassroots level even though it is still limited. Too few jobs have been created compared to the old industrial parks model. The ELIDZ is therefore playing an important (albeit limited) role as a local employment creator, even though it has not revitalised the Eastern Cape manufacturing landscape. Due to its highly technology driven and specialised skills nature, the ELIDZ model is benefiting the few and therefore has not yet been an effective instrument to resolve the disturbing levels of inequality, poverty and unemployment, that underlie racial, class and gender dynamics in East London. The study concluded that innovation and entrepreneurship projects at the ELIDZ were contributing towards driving sustainable local economic development to some degree. However, due to its narrow industrial focus and highly technical and specialised skills driven business model, it excludes most historically disadvantaged communities and the local academic institutions need to do more to produce the skills relevant to support local innovation and local industrial development in a time when economies rely more on intellectual capabilities rather than natural resources. , Thesis (PhD) -- Faculty of Social Sciences and Humanities, 2021
- Full Text:
- Date Issued: 2021-02
- Authors: Masiwa, George Bonginkosi
- Date: 2021-02
- Subjects: Industrialization , Economic development , South Africa -- Economic conditions
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/21213 , vital:47406
- Description: This study focuses on the East London Industrial Development Zone (ELIDZ) in South Africa. The ELIDZ strategy came as a response to the need for a robust catalyst for sustainable regional economic development, industrial diversification and to create meaningful employment opportunities in the country. It was supposed to provide customised solutions for various industries including automotive, agro-processing and aqua-culture. However, an Industrial Development Zone should promote innovati on and entrepreneurship to stimulate economic growth and global competitiveness. Economic stagnation, joblessness and inequality continue to be a reality for the previously marginalised groups after 16 years of the ELIDZ despite significant investments in the automotive sector, the growth of companies that supply Mercedes Benz with parts and the establishment and growth of innovative start-up companies at the ELIDZ Science and Technology Park (STP). Massive joblessness, poverty and economic stagnation had followed the collapse of the old industrial parks. The ELIDZ strategy of industrial development came as a response to the demise of the old parks and was meant to become the main vehicle for job creation, local innovation and global competitiveness. This study therefore investigated the extent to which innovation and entrepreneurship have fared in driving sustainable local economic development and how they have impacted jobs at the ELIDZ and within the East London community. The study was qualitative in nature and employed the non-probability sampling technique. In-depth semi-structured interviews were conducted with key informants that included Industrialists, Business Executives that were tenants at the ELIDZ, the Buffalo City Municipal Metro and community members with knowledge of and association with the ELIDZ. This was augmented by desktop and observational data. It was found that innovation and entrepreneurship was still a fairly new phenomenon at the ELIDZ and their flagships had the vision but were not yet driving sustainable local economic development to a large extent. The model lacks adequate diversification as most of the innovation projects are in the renewable energy and information communication spaces. Very few have made it to mass production with downstream industry employment creation for plumbers, artisans and marketers involved in the supply, distribution, instalment and maintenance of the Hotspot and Thin-film solar panels. New industrialists like YEKANI Technologies and Manufacturing and KGI Holdings, already employ some people and have the vision to employ thousands more of young people. The main innovation and entrepreneurship projects of the ELIDZ have had some impact at the grassroots level even though it is still limited. Too few jobs have been created compared to the old industrial parks model. The ELIDZ is therefore playing an important (albeit limited) role as a local employment creator, even though it has not revitalised the Eastern Cape manufacturing landscape. Due to its highly technology driven and specialised skills nature, the ELIDZ model is benefiting the few and therefore has not yet been an effective instrument to resolve the disturbing levels of inequality, poverty and unemployment, that underlie racial, class and gender dynamics in East London. The study concluded that innovation and entrepreneurship projects at the ELIDZ were contributing towards driving sustainable local economic development to some degree. However, due to its narrow industrial focus and highly technical and specialised skills driven business model, it excludes most historically disadvantaged communities and the local academic institutions need to do more to produce the skills relevant to support local innovation and local industrial development in a time when economies rely more on intellectual capabilities rather than natural resources. , Thesis (PhD) -- Faculty of Social Sciences and Humanities, 2021
- Full Text:
- Date Issued: 2021-02
An exploratory analysis of the challenges faced by police in combating mob justice: a case study of Gqeberha
- Loqani Anelisa https://orcid.org/0000-0001-9944-5947
- Authors: Loqani Anelisa https://orcid.org/0000-0001-9944-5947
- Date: 2021-02
- Subjects: Vigilance committees , Criminal justice, Administration of
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/22000 , vital:51928
- Description: Mob justice is a major issue that will continue to occur as long as criminal activities exist. In South Africa, mob justice has become a major challenge for the government, particularly the South African Police Service as well as the society at large. The South African Police Service (SAPS) has partnered with all relevant role-players in the fight against mob justice and other community problems which threaten the safety of inhabitants. However, concerted efforts have also been made by the government to assist the SAPS to address the occurrence and re-occurrence of mob justice by introducing strategies such as visible policing but the problem seems to persist. The study, thus, analyzed the challenges faced by the police that lead to their ineffectiveness in eliminating mob justice. This thesis draws from two theories, namely Structural Violence theory pioneered by Galtung (1969) and Just World Theory (JWT) by Adelstein (1999) to explore the challenges faced by the police in Gqeberha. This study was conducted in the Eastern Cape Province, in Gqeberha within four townships, namely Kwadwesi, Kwazakhele, Motherwell, and New Brighton. The findings gathered by utilizing Focus Group Interviews (FGIs) and semi-structured interviews with a total number of forty-eight (48) respondents comprising of sixteen (16) SAPS members, eight (08) Community Policing Forum (CPF) representatives, four (04) community leaders and twenty (20) community members. This is a qualitative research project in which participants were chosen using purposive sampling. Participants were chosen based on their knowledge and experiences relating to the phenomena being explored. The aim was to gain an in-depth understanding of the challenges encountered by the police in combating mob justice to discover some techniques to improve and strengthen the police service to make communities safer. To analyse the data thematic analysis was utilized. The results of the study indicate that an increase in mob justice in Gqeberha has been reported to be a result of the high rate of crime. However, the fact that people know they will not get arrested for participating in mob justice is one of the concerns that have led to an escalation in mob justice. The study demonstrates that in most incidents the community members have once witnessed in their respective areas, the victims were killed while few survived and in all those incidents only a few arrests were made and in those few arrests, no convictions were made. Based on this issue of arrests, results indicate that the SAPS members are confronting some difficulties in identifying and arresting the perpetrators of mob justice. The reluctance of community members to report mob justice cases and to provide information was found to be the main challenge faced by the police in combating mob justice in Motherwell Cluster precincts. These challenges have been reported to negatively affect police work performance. Further analysis revealed that CPF, community members and community leaders as part of stakeholders who are working together with SAPS are also facing some challenges in addressing this issue of mob justice. The results also indicate that mob justice does not only harm members of the community who are subjected to these occurrences, but also the police, the victims and the perpetrators themselves. Evidence-based techniques to help eradicate mob justice incidents were developed in response to this problem of mob justice. The participants suggested that the police must be provided with adequate manpower, more community patrols and vehicles. It is believed that if the police could act in time and arrest the suspected criminals, a large number of people would be rescued from being killed in mob justice. The respondents also indicated that the police must build good relations with the communities by being visible and transparent in communities. Furthermore, the SAPS participants alluded that when people are sentenced, a community engagement needs to be conducted before those people are released outside as parolees. Other respondents mentioned the issue of education, proposing that the Criminal Justice System (CJS) should frequently conduct awareness campaigns, imbizos and public meetings to teach and inform people about its operations. , Thesis (PhD) -- Faculty of Social Sciences and Humanities, 2021
- Full Text:
- Date Issued: 2021-02
- Authors: Loqani Anelisa https://orcid.org/0000-0001-9944-5947
- Date: 2021-02
- Subjects: Vigilance committees , Criminal justice, Administration of
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/22000 , vital:51928
- Description: Mob justice is a major issue that will continue to occur as long as criminal activities exist. In South Africa, mob justice has become a major challenge for the government, particularly the South African Police Service as well as the society at large. The South African Police Service (SAPS) has partnered with all relevant role-players in the fight against mob justice and other community problems which threaten the safety of inhabitants. However, concerted efforts have also been made by the government to assist the SAPS to address the occurrence and re-occurrence of mob justice by introducing strategies such as visible policing but the problem seems to persist. The study, thus, analyzed the challenges faced by the police that lead to their ineffectiveness in eliminating mob justice. This thesis draws from two theories, namely Structural Violence theory pioneered by Galtung (1969) and Just World Theory (JWT) by Adelstein (1999) to explore the challenges faced by the police in Gqeberha. This study was conducted in the Eastern Cape Province, in Gqeberha within four townships, namely Kwadwesi, Kwazakhele, Motherwell, and New Brighton. The findings gathered by utilizing Focus Group Interviews (FGIs) and semi-structured interviews with a total number of forty-eight (48) respondents comprising of sixteen (16) SAPS members, eight (08) Community Policing Forum (CPF) representatives, four (04) community leaders and twenty (20) community members. This is a qualitative research project in which participants were chosen using purposive sampling. Participants were chosen based on their knowledge and experiences relating to the phenomena being explored. The aim was to gain an in-depth understanding of the challenges encountered by the police in combating mob justice to discover some techniques to improve and strengthen the police service to make communities safer. To analyse the data thematic analysis was utilized. The results of the study indicate that an increase in mob justice in Gqeberha has been reported to be a result of the high rate of crime. However, the fact that people know they will not get arrested for participating in mob justice is one of the concerns that have led to an escalation in mob justice. The study demonstrates that in most incidents the community members have once witnessed in their respective areas, the victims were killed while few survived and in all those incidents only a few arrests were made and in those few arrests, no convictions were made. Based on this issue of arrests, results indicate that the SAPS members are confronting some difficulties in identifying and arresting the perpetrators of mob justice. The reluctance of community members to report mob justice cases and to provide information was found to be the main challenge faced by the police in combating mob justice in Motherwell Cluster precincts. These challenges have been reported to negatively affect police work performance. Further analysis revealed that CPF, community members and community leaders as part of stakeholders who are working together with SAPS are also facing some challenges in addressing this issue of mob justice. The results also indicate that mob justice does not only harm members of the community who are subjected to these occurrences, but also the police, the victims and the perpetrators themselves. Evidence-based techniques to help eradicate mob justice incidents were developed in response to this problem of mob justice. The participants suggested that the police must be provided with adequate manpower, more community patrols and vehicles. It is believed that if the police could act in time and arrest the suspected criminals, a large number of people would be rescued from being killed in mob justice. The respondents also indicated that the police must build good relations with the communities by being visible and transparent in communities. Furthermore, the SAPS participants alluded that when people are sentenced, a community engagement needs to be conducted before those people are released outside as parolees. Other respondents mentioned the issue of education, proposing that the Criminal Justice System (CJS) should frequently conduct awareness campaigns, imbizos and public meetings to teach and inform people about its operations. , Thesis (PhD) -- Faculty of Social Sciences and Humanities, 2021
- Full Text:
- Date Issued: 2021-02
Democratic citizenship in mathematics teachers’ preparation in South African Universities
- Olawale, Babawande Emmanuel https://orcid.org/ 0000-0001-5265-1583
- Authors: Olawale, Babawande Emmanuel https://orcid.org/ 0000-0001-5265-1583
- Date: 2021-02
- Subjects: Citizenship -- Study and teaching , Authoritarianism , Mathematics -- Study and teaching
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/20079 , vital:45107
- Description: Promoting a clearer understanding of the role of schools in developing democratic dispositions among young citizens is a matter of importance across the world. This is because school is believed to be the best place where future free and democratic citizens can be prepared. Similarly, it is a place where young people are equipped with the necessary skills and knowledge that will assist them in deliberating democratically, developing a better understanding of political structures and economic and world history, and learning the relevant numeracy, literacy and critical thinking skills. Unfortunately, current teacher education programmes appear to represent potential stumbling blocks to schooling playing a greater role in educating the youth for democracy and democratic citizenship. This study explored two contradictory theoretical roles for mathematics teacher education programmes, in relation to power and control in education and society. The first is that, in reality, mathematics teacher education is essentially re-productive, in that its authoritarian relationship does not encourage confrontational discussion or critique, or challenge existing and dominant practices. The second is that, in a world where democracy is increasingly becoming a global phenomenon central to development, teacher education is (or should be) essentially democratic in nature. Thus, underpinned by the interpretivist paradigm, this study employed a qualitative research approach. It also utilised a case study design as a strategy for data collection, in order to explore how the mathematics teacher education programmes in South African universities prepare learners for democratic citizenship. As such, three universities in two provinces in South Africa participated in the study, and data were collected through interviews, observation and document reviews. At each institution, interviews were carried out with mathematics teacher educators and pre-service mathematics student teachers in their second to fourth year of study. Similarly, observations took place in different teaching sessions at each institution, and in different formats. Relevant documents were also reviewed for the study. The research findings revealed that the concepts of democracy and democratic citizenship are multifaceted. The participants’ understanding of these concepts was influenced by their individual expectations, as well as their social, political and economic environments, among many other factors. In addition, it was evident that mathematics teacher education programmes play a significant role in developing socially active citizens and democratic mathematics teachers. The research findings revealed, however, that contradictions exist between pedagogical approaches that are capable of developing democratic citizens, mathematics teacher educators’ ideal image of their practices within the classroom, and the participants’ conception of mathematics. As a result, no engagement occurs in social and critical pedagogy within mathematics education classrooms, to allow learners to view mathematics as a tool for confronting issues of justice and inequality in their community and the world at large. The research findings also revealed that the practices of the main structures which are tasked with the responsibility of promoting democratic practices within higher education institutions seem ineffective, as a result of favouritism and an autocratic approach to decision making. Based on the research findings, a recommendation is made that mathematics educators democratise their classrooms, in order to develop democratic citizens who are committed to democratic principles. Another recommendation is that, in their mathematics classrooms, educators use a problem-posing pedagogical approach which is capable of challenging power structures, thereby empowering learners as users of mathematics. This will not be possible without a professional development programme guiding mathematics teacher educators in establishing and managing their democratic classrooms. Similarly, it is recommended that student representative councils, as the structures that are best known for supporting democratic citizenship at universities, strive to follow the basic principles of democratic governance. Finally, the researcher concluded that mathematics education and the task of preparing mathematics student teachers for democratic citizenship are of the utmost importance, if South Africans are to cultivate and maintain a democracy that contributes to a culture which fundamentally supports democratic principles. , Thesis (PhD) -- Faculty of Education, 2021
- Full Text:
- Date Issued: 2021-02
- Authors: Olawale, Babawande Emmanuel https://orcid.org/ 0000-0001-5265-1583
- Date: 2021-02
- Subjects: Citizenship -- Study and teaching , Authoritarianism , Mathematics -- Study and teaching
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/20079 , vital:45107
- Description: Promoting a clearer understanding of the role of schools in developing democratic dispositions among young citizens is a matter of importance across the world. This is because school is believed to be the best place where future free and democratic citizens can be prepared. Similarly, it is a place where young people are equipped with the necessary skills and knowledge that will assist them in deliberating democratically, developing a better understanding of political structures and economic and world history, and learning the relevant numeracy, literacy and critical thinking skills. Unfortunately, current teacher education programmes appear to represent potential stumbling blocks to schooling playing a greater role in educating the youth for democracy and democratic citizenship. This study explored two contradictory theoretical roles for mathematics teacher education programmes, in relation to power and control in education and society. The first is that, in reality, mathematics teacher education is essentially re-productive, in that its authoritarian relationship does not encourage confrontational discussion or critique, or challenge existing and dominant practices. The second is that, in a world where democracy is increasingly becoming a global phenomenon central to development, teacher education is (or should be) essentially democratic in nature. Thus, underpinned by the interpretivist paradigm, this study employed a qualitative research approach. It also utilised a case study design as a strategy for data collection, in order to explore how the mathematics teacher education programmes in South African universities prepare learners for democratic citizenship. As such, three universities in two provinces in South Africa participated in the study, and data were collected through interviews, observation and document reviews. At each institution, interviews were carried out with mathematics teacher educators and pre-service mathematics student teachers in their second to fourth year of study. Similarly, observations took place in different teaching sessions at each institution, and in different formats. Relevant documents were also reviewed for the study. The research findings revealed that the concepts of democracy and democratic citizenship are multifaceted. The participants’ understanding of these concepts was influenced by their individual expectations, as well as their social, political and economic environments, among many other factors. In addition, it was evident that mathematics teacher education programmes play a significant role in developing socially active citizens and democratic mathematics teachers. The research findings revealed, however, that contradictions exist between pedagogical approaches that are capable of developing democratic citizens, mathematics teacher educators’ ideal image of their practices within the classroom, and the participants’ conception of mathematics. As a result, no engagement occurs in social and critical pedagogy within mathematics education classrooms, to allow learners to view mathematics as a tool for confronting issues of justice and inequality in their community and the world at large. The research findings also revealed that the practices of the main structures which are tasked with the responsibility of promoting democratic practices within higher education institutions seem ineffective, as a result of favouritism and an autocratic approach to decision making. Based on the research findings, a recommendation is made that mathematics educators democratise their classrooms, in order to develop democratic citizens who are committed to democratic principles. Another recommendation is that, in their mathematics classrooms, educators use a problem-posing pedagogical approach which is capable of challenging power structures, thereby empowering learners as users of mathematics. This will not be possible without a professional development programme guiding mathematics teacher educators in establishing and managing their democratic classrooms. Similarly, it is recommended that student representative councils, as the structures that are best known for supporting democratic citizenship at universities, strive to follow the basic principles of democratic governance. Finally, the researcher concluded that mathematics education and the task of preparing mathematics student teachers for democratic citizenship are of the utmost importance, if South Africans are to cultivate and maintain a democracy that contributes to a culture which fundamentally supports democratic principles. , Thesis (PhD) -- Faculty of Education, 2021
- Full Text:
- Date Issued: 2021-02
Enhancing the psychological strength of adolescent rugby players in South African secondary schools : the effects of Rational-Emotive Behavioural Therapy and Mindfulness-Acceptance-Commitment Therapy
- Munnik, James Barry https://orcid.org/0000-0001-8211-4260
- Authors: Munnik, James Barry https://orcid.org/0000-0001-8211-4260
- Date: 2021-02
- Subjects: Rational emotive behavior therapy , Acceptance and commitment therapy , Psychotherapy
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/22111 , vital:51984
- Description: This thesis aimed, firstly, to test the psychological effects of two psychological interventions designed to enhance the psychological strength of competitive athletes; and, secondly, to possibly determine which intervention might be considered superior to the other. The third aim of this thesis was to explore the results of the findings in terms of both their shared and differential theories. The two psychological approaches in question were Rational-Emotive Behavioural Therapy (REBT) – supplemented with adjunctive Mental Skills Training (MST) techniques and the Mindfulness-Acceptance-Commitment (MAC) approach. To test the psychological strengthening effects of both interventions and to compare the results, a non-equivalent pre-test post-test control group design was followed which utilised a control group along with purposive sampling. Various dependent variables were investigated using seven instruments. Variables tested included: - mental wellbeing, irrational beliefs, mental toughness, achievement motivation and competitive anxiety, as well as anger and frustration levels and subjective performance. The instruments used to capture these variables were: - The Mental Health Continuum-Short Form (MHC-SF); Shortened General Attitudes and Beliefs Scale (SGABS); the Sport Mental Toughness Questionnaire (SMTQ); the Sport Competition Anxiety Test (SCAT); as well as one five-point Likert question written by the researcher and one question from the Psychological Skills Inventory (PSI). Seventy-one male adolescent rugby players, from three different schools were sourced to take part in this study. Thus 32 (Mage = 17.33; SD = 6= .729) participants from one high school completed the seven-session REBT-Based MST intervention. 21 (Mage = 17.23; SD = .669) from another school completed the seven-module MAC intervention and 18 (Mage = 15.52; SD = .326) from an additional school were used as a control group school. All three group participants filled out the instrument questionnaires prior to undergoing the various interventions and just following it. Each intervention’s sessions were about an hour to an hour and fifteen minutes long. The control group just filled out the instrument questionnaires in about the same time frame that the other schools had their pre- and post-intervention assessments. The results demonstrated that generally both interventions improved the psychological strength of their players more so than the control group, however, the REBT intervention decreased irrationality and improved subjective performance measures more significantly when compared to the other treatment group. , Thesis (PhD) -- Faculty of Social Sciences and Humanities, 2021
- Full Text:
- Date Issued: 2021-02
- Authors: Munnik, James Barry https://orcid.org/0000-0001-8211-4260
- Date: 2021-02
- Subjects: Rational emotive behavior therapy , Acceptance and commitment therapy , Psychotherapy
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/22111 , vital:51984
- Description: This thesis aimed, firstly, to test the psychological effects of two psychological interventions designed to enhance the psychological strength of competitive athletes; and, secondly, to possibly determine which intervention might be considered superior to the other. The third aim of this thesis was to explore the results of the findings in terms of both their shared and differential theories. The two psychological approaches in question were Rational-Emotive Behavioural Therapy (REBT) – supplemented with adjunctive Mental Skills Training (MST) techniques and the Mindfulness-Acceptance-Commitment (MAC) approach. To test the psychological strengthening effects of both interventions and to compare the results, a non-equivalent pre-test post-test control group design was followed which utilised a control group along with purposive sampling. Various dependent variables were investigated using seven instruments. Variables tested included: - mental wellbeing, irrational beliefs, mental toughness, achievement motivation and competitive anxiety, as well as anger and frustration levels and subjective performance. The instruments used to capture these variables were: - The Mental Health Continuum-Short Form (MHC-SF); Shortened General Attitudes and Beliefs Scale (SGABS); the Sport Mental Toughness Questionnaire (SMTQ); the Sport Competition Anxiety Test (SCAT); as well as one five-point Likert question written by the researcher and one question from the Psychological Skills Inventory (PSI). Seventy-one male adolescent rugby players, from three different schools were sourced to take part in this study. Thus 32 (Mage = 17.33; SD = 6= .729) participants from one high school completed the seven-session REBT-Based MST intervention. 21 (Mage = 17.23; SD = .669) from another school completed the seven-module MAC intervention and 18 (Mage = 15.52; SD = .326) from an additional school were used as a control group school. All three group participants filled out the instrument questionnaires prior to undergoing the various interventions and just following it. Each intervention’s sessions were about an hour to an hour and fifteen minutes long. The control group just filled out the instrument questionnaires in about the same time frame that the other schools had their pre- and post-intervention assessments. The results demonstrated that generally both interventions improved the psychological strength of their players more so than the control group, however, the REBT intervention decreased irrationality and improved subjective performance measures more significantly when compared to the other treatment group. , Thesis (PhD) -- Faculty of Social Sciences and Humanities, 2021
- Full Text:
- Date Issued: 2021-02
Reinforcing the protection of stakeholders’ interests under the South African takeover regulation regime: a comparative assessment from a complementary regulatory perspective.
- Authors: Mudzamiri, Justice
- Date: 2021-02
- Subjects: Social responsibility of business , Stockholder wealth , Corporate governance--Law and legislation
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/20350 , vital:45658
- Description: The dominant view in company law (especially; corporate governance and finance law) is that the regulation of company takeovers (takeovers) and-/ or mergers must carefully balance two opposing notions. On one hand, the regime must be designed to enable or facilitate the initiation and successful implementation of takeovers and mergers in the interests of inter alia economic growth and technological advancement. On the other hand, such a regulatory framework ought to be sensitive to stakeholders’ interests. Various policy rationales are put forward in supporting the incidence of takeover transactions. These motivations include the need for companies to access business synergy, diversification, competitiveness, technological advancement, and broader economic development. However, takeovers may have negative implications for stakeholders. For feasibility sake, this study’s focus is limited to three stakeholder groups, namely, the target company shareholders, the target company directors, and the local communities. For the target shareholders, the takeover-related mischiefs include the possibility that the target directors may be tainted by conflicts of interest in the context of an offer, thereby making recommendations that disadvantage the shareholders. Or the possibility that the minority shareholders may be treated unfairly and unequally by the acquiring company through making a subsequent offer that is inferior to the one received by the majority holders of securities of the same class. For the board of directors, there are twin negative effects that the directors may face. On the one hand, is litigation from disgruntled stakeholders during and after takeovers and, on the other hand, is the possibility that directors often lose their offices and jobs after successful takeovers. This study also examines the possible exposure of local communities to the negative repercussions of takeovers, and these include loss of employment by locals, loss of beneficial community development, loss of community development monies due to losses in corporate taxes, loss of corporate social responsibility benefits where the merged company decides to relocate. Still, the introduction of a new company into a community after a takeover may negatively impact the environment, public health as well as expose the community to severe national security threats especially where the takeovers involve personal data storage, the internet and technology. Against the backdrop of the conceivable benefits and adverse effects surrounding takeovers this study introduces a ‘novel’ complementary regulatory perspective, as a yardstick for undertaking a comparative evaluation of the existing takeover regulation regimes of the United States of America (US) especially the state of Delaware, the United Kingdom (UK) and South Africa to answer this study’s main research question. The primary question sought to be answered is: To what extent are the provisions of the South African takeover regulation framework appropriate and adequate in protecting the stakeholders’ interests? The said complementary regulatory perspective has twin-legs designed to carefully balance two opposing philosophies: that is, on one hand, vigilant optimisation of takeover activity and on the other hand, ensuring the appropriate and adequate protection of stakeholders’ interests by pursuing stakeholder inclusivity through the concept of subordination. Notably, there are several protections under the US, the UK and South African takeover regulation regimes that are available and accessible to the three stakeholder groups identified, discussed and evaluated in this study. And through the evaluations, the related merits and weaknesses of such protections were established. Then, ultimately, several suggestions for law reform are recommended in accordance with the ethos of the complementary regulatory perspective as deliberated. , Thesis (PhD) (Law)-- University of Fort Hare, 2021
- Full Text:
- Date Issued: 2021-02
- Authors: Mudzamiri, Justice
- Date: 2021-02
- Subjects: Social responsibility of business , Stockholder wealth , Corporate governance--Law and legislation
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/20350 , vital:45658
- Description: The dominant view in company law (especially; corporate governance and finance law) is that the regulation of company takeovers (takeovers) and-/ or mergers must carefully balance two opposing notions. On one hand, the regime must be designed to enable or facilitate the initiation and successful implementation of takeovers and mergers in the interests of inter alia economic growth and technological advancement. On the other hand, such a regulatory framework ought to be sensitive to stakeholders’ interests. Various policy rationales are put forward in supporting the incidence of takeover transactions. These motivations include the need for companies to access business synergy, diversification, competitiveness, technological advancement, and broader economic development. However, takeovers may have negative implications for stakeholders. For feasibility sake, this study’s focus is limited to three stakeholder groups, namely, the target company shareholders, the target company directors, and the local communities. For the target shareholders, the takeover-related mischiefs include the possibility that the target directors may be tainted by conflicts of interest in the context of an offer, thereby making recommendations that disadvantage the shareholders. Or the possibility that the minority shareholders may be treated unfairly and unequally by the acquiring company through making a subsequent offer that is inferior to the one received by the majority holders of securities of the same class. For the board of directors, there are twin negative effects that the directors may face. On the one hand, is litigation from disgruntled stakeholders during and after takeovers and, on the other hand, is the possibility that directors often lose their offices and jobs after successful takeovers. This study also examines the possible exposure of local communities to the negative repercussions of takeovers, and these include loss of employment by locals, loss of beneficial community development, loss of community development monies due to losses in corporate taxes, loss of corporate social responsibility benefits where the merged company decides to relocate. Still, the introduction of a new company into a community after a takeover may negatively impact the environment, public health as well as expose the community to severe national security threats especially where the takeovers involve personal data storage, the internet and technology. Against the backdrop of the conceivable benefits and adverse effects surrounding takeovers this study introduces a ‘novel’ complementary regulatory perspective, as a yardstick for undertaking a comparative evaluation of the existing takeover regulation regimes of the United States of America (US) especially the state of Delaware, the United Kingdom (UK) and South Africa to answer this study’s main research question. The primary question sought to be answered is: To what extent are the provisions of the South African takeover regulation framework appropriate and adequate in protecting the stakeholders’ interests? The said complementary regulatory perspective has twin-legs designed to carefully balance two opposing philosophies: that is, on one hand, vigilant optimisation of takeover activity and on the other hand, ensuring the appropriate and adequate protection of stakeholders’ interests by pursuing stakeholder inclusivity through the concept of subordination. Notably, there are several protections under the US, the UK and South African takeover regulation regimes that are available and accessible to the three stakeholder groups identified, discussed and evaluated in this study. And through the evaluations, the related merits and weaknesses of such protections were established. Then, ultimately, several suggestions for law reform are recommended in accordance with the ethos of the complementary regulatory perspective as deliberated. , Thesis (PhD) (Law)-- University of Fort Hare, 2021
- Full Text:
- Date Issued: 2021-02
South African women in politics: the case study of Buffalo City Metropolitan Municipality of the Eastern Cape Province, South Africa
- Sokani, Andile https://orcid.org/0000-0002-3835-3501
- Authors: Sokani, Andile https://orcid.org/0000-0002-3835-3501
- Date: 2021-02
- Subjects: Women -- Political activity -- South Africa , Women government executives
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/22340 , vital:52026
- Description: Many barriers exist for women to participating in local or national politics and decisionmaking. This study, which was conducted in the Buffalo City Metropolitan Municipality of South Africa's Eastern Cape Province, examines and highlights the extent to which South Africa has provided opportunities for women to participate in local politics and decisionmaking in local government. According to research, women face gender discrimination in local politics, particularly in provinces such as the Eastern Cape, where patriarchy still exists. Despite the fact that much work has been done in South Africa to combat gender discrimination, including in politics, women continue to be under-represented in local politics and decision-making. The study was founded on Feminist theory to draw attention to the issue of women's under-representation in politics. Feminists believe that the benefits and burdens of social, economic, and political life are gendered. According to feminist theory, the gender-power-order is always present in our society. The notion that women and their situations are central to political analysis is a central feature of feminist political theory, with its interest in questioning the fact that men appear to have more power and privilege than women and how this can be changed. The mixed-methods research approach was used in the study, and 200 members of the community were given questionnaires. Ten in-depth interviews with female Proportional Representation and Ward Councillors from the Buffalo City Metropolitan Municipality in South Africa's Eastern Cape Province were conducted. The study's data were analysed using the Statistical Package for Social Science (SPSS) for quantitative data and NVivo 12 Pro for qualitative data. Based on the study's theoretical frameworks, the findings revealed that, despite national and international policy and legislative provisions on women's empowerment and gender equality, women continue to face institutional gendered challenges. The researcher observed that, while there are policies encouraging women to participate in politics, the implementation of those policies is not uniform, according to those who participated in the study. The findings argued that existing policies should be implemented in order for women to participate in politics. The government must ensure that these policies are implemented so that women can fully participate in politics. The study's findings revealed that there are ongoing gender dynamics, stereotypes, and perceptions of women in politics and decision-making in local municipalities, particularly in Buffalo City Metropolitan Municipality. According to the study's findings, women should be empowered in the right way. The study also recommended that young females be educated about politics in order to increase their participation in politics. Furthermore, the study suggested that political parties in BCM should encourage women to participate in politics in their constitutions. Political parties in BCM should prioritize women because they are a direct pathway for women to elected office and political leadership. Finally, the study advocated for a greater effort to break down traditional stereotypes and prejudices that make women's ascension and retention in positions of authority difficult. , Thesis (PhD) -- Faculty of Social Sciences and Humanities, 2021
- Full Text:
- Date Issued: 2021-02
- Authors: Sokani, Andile https://orcid.org/0000-0002-3835-3501
- Date: 2021-02
- Subjects: Women -- Political activity -- South Africa , Women government executives
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/22340 , vital:52026
- Description: Many barriers exist for women to participating in local or national politics and decisionmaking. This study, which was conducted in the Buffalo City Metropolitan Municipality of South Africa's Eastern Cape Province, examines and highlights the extent to which South Africa has provided opportunities for women to participate in local politics and decisionmaking in local government. According to research, women face gender discrimination in local politics, particularly in provinces such as the Eastern Cape, where patriarchy still exists. Despite the fact that much work has been done in South Africa to combat gender discrimination, including in politics, women continue to be under-represented in local politics and decision-making. The study was founded on Feminist theory to draw attention to the issue of women's under-representation in politics. Feminists believe that the benefits and burdens of social, economic, and political life are gendered. According to feminist theory, the gender-power-order is always present in our society. The notion that women and their situations are central to political analysis is a central feature of feminist political theory, with its interest in questioning the fact that men appear to have more power and privilege than women and how this can be changed. The mixed-methods research approach was used in the study, and 200 members of the community were given questionnaires. Ten in-depth interviews with female Proportional Representation and Ward Councillors from the Buffalo City Metropolitan Municipality in South Africa's Eastern Cape Province were conducted. The study's data were analysed using the Statistical Package for Social Science (SPSS) for quantitative data and NVivo 12 Pro for qualitative data. Based on the study's theoretical frameworks, the findings revealed that, despite national and international policy and legislative provisions on women's empowerment and gender equality, women continue to face institutional gendered challenges. The researcher observed that, while there are policies encouraging women to participate in politics, the implementation of those policies is not uniform, according to those who participated in the study. The findings argued that existing policies should be implemented in order for women to participate in politics. The government must ensure that these policies are implemented so that women can fully participate in politics. The study's findings revealed that there are ongoing gender dynamics, stereotypes, and perceptions of women in politics and decision-making in local municipalities, particularly in Buffalo City Metropolitan Municipality. According to the study's findings, women should be empowered in the right way. The study also recommended that young females be educated about politics in order to increase their participation in politics. Furthermore, the study suggested that political parties in BCM should encourage women to participate in politics in their constitutions. Political parties in BCM should prioritize women because they are a direct pathway for women to elected office and political leadership. Finally, the study advocated for a greater effort to break down traditional stereotypes and prejudices that make women's ascension and retention in positions of authority difficult. , Thesis (PhD) -- Faculty of Social Sciences and Humanities, 2021
- Full Text:
- Date Issued: 2021-02
Succession politics and state administration in Africa: the case of Zimbabwe
- Authors: Chikerema, Arthur Fidelis
- Date: 2021-02
- Subjects: Africa -- Politics and government , Public administration , state governments
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/21355 , vital:48494
- Description: The research probes the impact of succession politics on state administration in Africa, Zimbabwe as a case study. Power transition in any political landscape promotes the regeneration and configuration of the political architecture and the functionality of the administrative apparatus of the state. Government performance may thus be viewed as a result of political processes and dynamics that influence governance in a polity. Political succession determines the composition of administrative organs of the state and many political leaders wish to work with administrative apparatus, which are compatible with their ideological orientation. Regular transfer of executive power is the major test of stability, legitimacy and maturity of a nation’s political system, but in Zimbabwe, political leaders have shown a consistent trajectory of violating or amending state and party constitutions to prolong their stay in power (Constitutional coup or a third term tragedy). This has been compelled by ruthless silencing of dissent by suffocating political activism culminating in strong personalities and weak institutions. Succession politics in Zimbabwe resembles executive dominance, egocentrism, excessive appointing powers which are compounded by lack of institutional framework for succession. This undermines the professional independence of the bureaucracy, which in turn inhibits the pursuit of sound governance. Therefore, passing the baton to the next leader has been a challenge; resulting in the personalization of, governments and political parties by leaders. While constitutions provide for elective congress for purposes of electing party leadership and/ or renewing their mandates, there is strong literature pointing to the capture of representative institutions such as Parliaments through strong normative values by leaders. This erodes the role of Parliaments or congresses as a democratic institution, as leaders have used it to “endorse” themselves. The research examines the influence of succession politics on state administration, especially on how the institution of the state and party politics in Zimbabwe conflate with the public administration system leading to state malfunction. This research adopts a qualitative research design that provides an understanding of underlying reasons, opinions, and motivations on political succession and state administration in Zimbabwe. Data was collected through in-depth interviews, complemented by document review and analyzed through thematic content analysis. The study found out that, despite the existence of the legal frameworks that promote seamless power transition, political, societal and historical factors exacerbate Zimbabwe’s succession dilemma. Colonial legacy, societal laxity, the military factor, capture of state institutions by the political elite, lack of a retirement institutional mechanism, the principle of sovereignty and politicization of the succession process were found as the major hindrances to Zimbabwe’s succession trajectory. It recommends broad based and genuine civil service, electoral, security and political (politics with ethics and values) reforms to dismantle the current legacy imbedded in the political system. , Thesis (PhD) (Public Administration) -- University of Fort Hare, 2021
- Full Text:
- Date Issued: 2021-02
- Authors: Chikerema, Arthur Fidelis
- Date: 2021-02
- Subjects: Africa -- Politics and government , Public administration , state governments
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/21355 , vital:48494
- Description: The research probes the impact of succession politics on state administration in Africa, Zimbabwe as a case study. Power transition in any political landscape promotes the regeneration and configuration of the political architecture and the functionality of the administrative apparatus of the state. Government performance may thus be viewed as a result of political processes and dynamics that influence governance in a polity. Political succession determines the composition of administrative organs of the state and many political leaders wish to work with administrative apparatus, which are compatible with their ideological orientation. Regular transfer of executive power is the major test of stability, legitimacy and maturity of a nation’s political system, but in Zimbabwe, political leaders have shown a consistent trajectory of violating or amending state and party constitutions to prolong their stay in power (Constitutional coup or a third term tragedy). This has been compelled by ruthless silencing of dissent by suffocating political activism culminating in strong personalities and weak institutions. Succession politics in Zimbabwe resembles executive dominance, egocentrism, excessive appointing powers which are compounded by lack of institutional framework for succession. This undermines the professional independence of the bureaucracy, which in turn inhibits the pursuit of sound governance. Therefore, passing the baton to the next leader has been a challenge; resulting in the personalization of, governments and political parties by leaders. While constitutions provide for elective congress for purposes of electing party leadership and/ or renewing their mandates, there is strong literature pointing to the capture of representative institutions such as Parliaments through strong normative values by leaders. This erodes the role of Parliaments or congresses as a democratic institution, as leaders have used it to “endorse” themselves. The research examines the influence of succession politics on state administration, especially on how the institution of the state and party politics in Zimbabwe conflate with the public administration system leading to state malfunction. This research adopts a qualitative research design that provides an understanding of underlying reasons, opinions, and motivations on political succession and state administration in Zimbabwe. Data was collected through in-depth interviews, complemented by document review and analyzed through thematic content analysis. The study found out that, despite the existence of the legal frameworks that promote seamless power transition, political, societal and historical factors exacerbate Zimbabwe’s succession dilemma. Colonial legacy, societal laxity, the military factor, capture of state institutions by the political elite, lack of a retirement institutional mechanism, the principle of sovereignty and politicization of the succession process were found as the major hindrances to Zimbabwe’s succession trajectory. It recommends broad based and genuine civil service, electoral, security and political (politics with ethics and values) reforms to dismantle the current legacy imbedded in the political system. , Thesis (PhD) (Public Administration) -- University of Fort Hare, 2021
- Full Text:
- Date Issued: 2021-02
Succession politics and state administration in Africa: the case of Zimbabwe.
- Authors: Chikerema, Arthur Fidelis
- Date: 2021-02
- Subjects: Public administration , State governments
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/21467 , vital:48659
- Description: The research probes the impact of succession politics on state administration in Africa, Zimbabwe as a case study. Power transition in any political landscape promotes the regeneration and configuration of the political architecture and the functionality of the administrative apparatus of the state. Government performance may thus be viewed as a result of political processes and dynamics that influence governance in a polity. Political succession determines the composition of administrative organs of the state and many political leaders wish to work with administrative apparatus, which are compatible with their ideological orientation. Regular transfer of executive power is the major test of stability, legitimacy and maturity of a nation’s political system, but in Zimbabwe, political leaders have shown a consistent trajectory of violating or amending state and party constitutions to prolong their stay in power (Constitutional coup or a third term tragedy). This has been compelled by ruthless silencing of dissent by suffocating political activism culminating in strong personalities and weak institutions. Succession politics in Zimbabwe resembles executive dominance, egocentrism, excessive appointing powers which are compounded by lack of institutional framework for succession. This undermines the professional independence of the bureaucracy, which in turn inhibits the pursuit of sound governance. Therefore, passing the baton to the next leader has been a challenge; resulting in the personalization of, governments and political parties by leaders. While constitutions provide for elective congress for purposes of electing party leadership and/ or renewing their mandates, there is strong literature pointing to the capture of representative institutions such as Parliaments through strong normative values by leaders. This erodes the role of Parliaments or congresses as a democratic institution, as leaders have used it to “endorse” themselves. The research examines the influence of succession politics on state administration, especially on how the institution of the state and party politics in Zimbabwe conflate with the public administration system leading to state malfunction. This research adopts a qualitative research design that provides an understanding of underlying reasons, opinions, and motivations on political succession and state administration in Zimbabwe. Data was collected through in-depth interviews, complemented by document review and analyzed through thematic content analysis. The study found out that, despite the existence of the legal frameworks that promote seamless power transition, political, societal and historical factors exacerbate Zimbabwe’s succession dilemma. Colonial legacy, societal laxity, the military factor, capture of state institutions by the political elite, lack of a retirement institutional mechanism, the principle of sovereignty and politicization of the succession process were found as the major hindrances to Zimbabwe’s succession trajectory. It recommends broad based and genuine civil service, electoral, security and political (politics with ethics and values) reforms to dismantle the current legacy imbedded in the political system. , Thesis (PhD) (Public Administration) -- University of Fort Hare, 2021
- Full Text:
- Date Issued: 2021-02
- Authors: Chikerema, Arthur Fidelis
- Date: 2021-02
- Subjects: Public administration , State governments
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/21467 , vital:48659
- Description: The research probes the impact of succession politics on state administration in Africa, Zimbabwe as a case study. Power transition in any political landscape promotes the regeneration and configuration of the political architecture and the functionality of the administrative apparatus of the state. Government performance may thus be viewed as a result of political processes and dynamics that influence governance in a polity. Political succession determines the composition of administrative organs of the state and many political leaders wish to work with administrative apparatus, which are compatible with their ideological orientation. Regular transfer of executive power is the major test of stability, legitimacy and maturity of a nation’s political system, but in Zimbabwe, political leaders have shown a consistent trajectory of violating or amending state and party constitutions to prolong their stay in power (Constitutional coup or a third term tragedy). This has been compelled by ruthless silencing of dissent by suffocating political activism culminating in strong personalities and weak institutions. Succession politics in Zimbabwe resembles executive dominance, egocentrism, excessive appointing powers which are compounded by lack of institutional framework for succession. This undermines the professional independence of the bureaucracy, which in turn inhibits the pursuit of sound governance. Therefore, passing the baton to the next leader has been a challenge; resulting in the personalization of, governments and political parties by leaders. While constitutions provide for elective congress for purposes of electing party leadership and/ or renewing their mandates, there is strong literature pointing to the capture of representative institutions such as Parliaments through strong normative values by leaders. This erodes the role of Parliaments or congresses as a democratic institution, as leaders have used it to “endorse” themselves. The research examines the influence of succession politics on state administration, especially on how the institution of the state and party politics in Zimbabwe conflate with the public administration system leading to state malfunction. This research adopts a qualitative research design that provides an understanding of underlying reasons, opinions, and motivations on political succession and state administration in Zimbabwe. Data was collected through in-depth interviews, complemented by document review and analyzed through thematic content analysis. The study found out that, despite the existence of the legal frameworks that promote seamless power transition, political, societal and historical factors exacerbate Zimbabwe’s succession dilemma. Colonial legacy, societal laxity, the military factor, capture of state institutions by the political elite, lack of a retirement institutional mechanism, the principle of sovereignty and politicization of the succession process were found as the major hindrances to Zimbabwe’s succession trajectory. It recommends broad based and genuine civil service, electoral, security and political (politics with ethics and values) reforms to dismantle the current legacy imbedded in the political system. , Thesis (PhD) (Public Administration) -- University of Fort Hare, 2021
- Full Text:
- Date Issued: 2021-02
The term structure of interest rate and expected inflation in South Africa
- Authors: Deve, Richard
- Date: 2021-02
- Subjects: Inflation (Finance) , Rational expectations (Economic theory)| , Inflation (Finance) -- Mathematical models
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/20252 , vital:45639
- Description: One of the questions in the minds of policy-makers, monetary authorities and the government is the nature of South Africa’s yield curve and its ability to predict inflation expectations for this country. This calls for an investigation of the relationship between the term structure of interest rates and expected inflation in South Africa. The study seeks to provide answers to three sequentially structured questions: Is there a long-term relationship between the yield curve and inflation expectations in South Africa? Does interest rate term structure contain information about future inflation movements in an inflation-targeting regime for South Africa? And finally: How useful is the yield spread as a predictor for future inflation in South Africa? To shed light on these questions, monthly data for five core variables covering the period January 2000 to January 2017 was used. In South Africa, a tight monetary policy stance affects economic activity positively. The development of sounder bond markets in developed economies, which enhance economic development, creates predictable monetary policy direction relative to developing economies that are cha-racterised by unstable economic conditions coupled with policy inconsistence. This phenomenon results in less credible central banks, and hence leads to less anchored inflation expectations. However, South Africa has well-anchored inflation expectations and one of the most liquid bond markets in the world, which sets it in an excellent position to compete with developed economies. South Africa’s risk premium and inflation are less volatile than those of other developing countries. This particular study finds that a tight monetary policy stance results in an increase in short-term interest rates, leading consequently to a decline in future inflation expectations, and hence leading to a decrease in long-term interest rates, through which the credibility of the central bank is recognised. The positive marginal effect of the yield spread on inflation expectations suggests that the inflation expectation changes are influenced positively by changes in the yield spread. An observed long-run relationship exists between inflation expectations and the yield spread signals that the yield spread has predictive ability for inflation ex-pectations in South Africa. The forecast inflation mimics realised inflation, which could suggest that the forecast is fairly accurate and valuable in explaining the influence of the inflation targeting regime adopted by the South African Reserve Bank (SARB). On the other hand, inflation expectations are viewed as a lagging indicator. In this line of argument, Mishkin (1990b) mentions that past studies have used the yield curve to extract information about future inflation. This is in line with the findings of the SARB (2016). That study (2016) found that the yield spread is useful for predicting expected future yield over 24 quarters in the South African economy. The study found that the yield curve does have a predictive ability with regard to expected inflation, which is moderate. However, it was found that the repo rate and the current levels of inflation had more predictive power than the yield curve. , Thesis (DPhil) -- Faculty of Management and Commerce, 2021
- Full Text:
- Date Issued: 2021-02
- Authors: Deve, Richard
- Date: 2021-02
- Subjects: Inflation (Finance) , Rational expectations (Economic theory)| , Inflation (Finance) -- Mathematical models
- Language: English
- Type: Doctoral theses , text
- Identifier: http://hdl.handle.net/10353/20252 , vital:45639
- Description: One of the questions in the minds of policy-makers, monetary authorities and the government is the nature of South Africa’s yield curve and its ability to predict inflation expectations for this country. This calls for an investigation of the relationship between the term structure of interest rates and expected inflation in South Africa. The study seeks to provide answers to three sequentially structured questions: Is there a long-term relationship between the yield curve and inflation expectations in South Africa? Does interest rate term structure contain information about future inflation movements in an inflation-targeting regime for South Africa? And finally: How useful is the yield spread as a predictor for future inflation in South Africa? To shed light on these questions, monthly data for five core variables covering the period January 2000 to January 2017 was used. In South Africa, a tight monetary policy stance affects economic activity positively. The development of sounder bond markets in developed economies, which enhance economic development, creates predictable monetary policy direction relative to developing economies that are cha-racterised by unstable economic conditions coupled with policy inconsistence. This phenomenon results in less credible central banks, and hence leads to less anchored inflation expectations. However, South Africa has well-anchored inflation expectations and one of the most liquid bond markets in the world, which sets it in an excellent position to compete with developed economies. South Africa’s risk premium and inflation are less volatile than those of other developing countries. This particular study finds that a tight monetary policy stance results in an increase in short-term interest rates, leading consequently to a decline in future inflation expectations, and hence leading to a decrease in long-term interest rates, through which the credibility of the central bank is recognised. The positive marginal effect of the yield spread on inflation expectations suggests that the inflation expectation changes are influenced positively by changes in the yield spread. An observed long-run relationship exists between inflation expectations and the yield spread signals that the yield spread has predictive ability for inflation ex-pectations in South Africa. The forecast inflation mimics realised inflation, which could suggest that the forecast is fairly accurate and valuable in explaining the influence of the inflation targeting regime adopted by the South African Reserve Bank (SARB). On the other hand, inflation expectations are viewed as a lagging indicator. In this line of argument, Mishkin (1990b) mentions that past studies have used the yield curve to extract information about future inflation. This is in line with the findings of the SARB (2016). That study (2016) found that the yield spread is useful for predicting expected future yield over 24 quarters in the South African economy. The study found that the yield curve does have a predictive ability with regard to expected inflation, which is moderate. However, it was found that the repo rate and the current levels of inflation had more predictive power than the yield curve. , Thesis (DPhil) -- Faculty of Management and Commerce, 2021
- Full Text:
- Date Issued: 2021-02
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