Understanding the South African international investment position and the valuation effects: subtitle if needed. If no subtitle follow instructions in manual
- Authors: Hlati, Sisamnkelo
- Date: 2021-04
- Subjects: Investments, Foreign -- South Africa , South Africa -- Economic conditions , Economics
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10948/51534 , vital:43298
- Description: This study examines the relationship between the South African Net International Investment Positions and the valuation effects over a period of 47 years from 1970 to 2017. To investigate the long run relationship between NIIP and the determinants thereof, this current study made use of the bounds test technique and the results indicate that a long run relationship exist. In which case, the autoregressive distributed lag model to empirically investigate the impact of the current account balance, capital account balance and the valuation effects on the South African NIIP was conducted and this current study finds out that there is a long run positive relationship between the current account balance and the South African NIIP. However, the study noted that the impact of the current account balance is volatile and this could be due to the net investment income payments (in a form of interest and dividend) made to foreign investors, which constitute a proportionately large share of the South African current account deficit. The capital account balance exhibits a positive long run impact on the South African NIIP in line with theory. The valuation effects on the other hand indicate a relatively stable impact on the South African NIIP, while in the long run have a positive impact on NIIP. The positive impact of the valuation effects could be due to gains being relatively larger than losses in the long run. , Thesis (MCom) -- Faculty of Business and Economic Sciences, Economics, 2021
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- Date Issued: 2021-04
Trends in mobilisation and unionisation in South Africa and Germany: a comparative analysis
- Authors: Whiteley, Julianne Beverley
- Date: 2001
- Subjects: Industrial mobilization -- South Africa , Labor unions -- South Africa , Industrial mobilization -- Germany , Labor unions -- Germany , South Africa -- Economic conditions , Germany -- Economic conditions
- Language: English
- Type: Thesis , Masters , MSocSc
- Identifier: vital:3332 , http://hdl.handle.net/10962/d1003125 , Industrial mobilization -- South Africa , Labor unions -- South Africa , Industrial mobilization -- Germany , Labor unions -- Germany , South Africa -- Economic conditions , Germany -- Economic conditions
- Description: The purpose of this study is to investigate long-term trends in the union membership of South Africa and Germany, and to highlight trends in unionisation in both of these countries over a period of time. The long-term aspect of this study differentiates it from more detailed specific studies concerned with the individual fortunes of confederations or unions. The changing fortunes of trade unions have been associated with changes in work organisation, the influence of institutional pressures, or long term changes in the economic cycle. All these factors may, of course, shape and be shaped by each other. From a comparative perspective this dissertation determines whether the fortunes of unions are ultimately a product of the long waves of an economic cycle, or if other factors, such as variations in union/state relations, changes in the forms of work organisation and shifts in the employment market, impact upon union membership and mobilisation. It is hoped that the comparison of a transitional and an advanced economy may shed new light on the causes of union growth and decline, and the impact of specific social, legal and cultural variables thereon. The theoretical frame of reference for this study emerged from literature pertaining to union growth and decline. This literature discusses the historical, economic and sectoral challenges that confront the identity of unions and their ability to mobilise membership within contemporary labour markets. The entire study relies heavily on primary data collected from a wide range of sources in both countries. This method facilitates the comparison and cross-checking of information, which ensures a full and balanced study. A synthesis of the facts obtained led to certain suggestions relating to the areas in which both South African and German labour organisations could adapt their agenda and interests to the changing nature of the employment market in order to avert membership decline. The methodology of this research draws from Skopol’s work which argues that social studies ought to be grounded in historical experience in order to make sense out of specific social events that occur today. The research design utilises an initial comparative historical-political analysis of the emergence of unionism in South Africa and Germany, so as to establish those factors which have, in the past, affected union growth and decline in both countries. Thereafter, the impact of contemporary economic and sectoral trends that reoccur in the South African and German labour markets are examined and compared, in order to establish their influence on the growth or decline of union membership in both countries in the future. This study consists of four sections. The first section comprises a historical dimension that uses Valenzuela’s work relating to the political nature of labour movements to establish those factors which, in the past, have affected union growth and decline. This is done to determine whether the type of insertion of labour movements into historical national political processes, and the links formed between trade unions and political parties influences membership growth or decline. The following three sections deal with the present challenges that may affect the unions in the future. Section Two deals with factors of economic recession (namely, poverty and unemployment) which confront trade unions in the 1990s. Hyman’s Theory of Disaggregation is applied to determine if recessive socio-economic factors can account for the strength of decline of unions, as opposed to union mobilisation being purely linked to transitions between long waves of the economy as Kelly suggests. The relevance of these theories to the rise and decline of unionism in South Africa and Germany is compared and contrasted. The third section determines whether changes to more flexible forms of work organisation and shifts in the employment market can account for the contrasting strength of the South African labour movement and the decline of the German labour movement today. The way in which these issues impact negatively upon union strength in South Africa and Germany in the 1990s is compared and contrasted, again using Hyman’s Theory of Disaggregation. The final section establishes whether or not the roles adopted by the South African and German labour movements during their confrontation with labour repressive regimes impacts upon their ability to attract union membership today, despite the constraints imposed upon unions by prevailing economic and structural uncertainties. Therefore the historicity of the South African and German labour movements, (based upon the findings of the first part of this study), is referred back to. At the same time, the reactions of the South African and German labour movements to prevailing economic and structural realities, (as examined in the second part of this research) are re-examined. Three conclusions are reached. Firstly, regardless of their strengths or weaknesses, all labour organisations are capable of adjusting to the adverse changes taking place in contemporary employment markets if they prove willing to advance and defend the interests of all who work, including those in the informal sector. If unions continue to neglect the informal labour market, they run the risk of being transposed by social movements that are antagonistic to trade unions or new expressions of the workforce’s latent collectivism. Secondly, in successfully playing a social movement role that led to the downfall of Apartheid in 1994, the South African labour movement has evolved as an energetic body with a dimension of recumbent militancy that attempts to adapt its identity to the changing nature of the employment market. This enables the South African labour movement to continue to attract membership despite the prevailing economic uncertainties. In contrast, forced co-operation and consensus within the German industrial relations arena since World War Two has resulted in a less dynamic union movement that lacks initiative in adapting to the changing nature of the employment market. The result is a decline in unionism. Finally, the fortunes of unions are not, as Kelly suggests, purely a product of economic cycles. Political climates can also influence mobilisation, as has occurred in both South Africa and Germany. This implies that mobilisation is not only activated by the economic dissatisfaction of a union movement.
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- Date Issued: 2001
The yield curve as a forecasting tool : does the yield spread predict recessions in South Africa?
- Authors: Khomo, Melvin Muzi
- Date: 2006
- Subjects: Recessions -- South Africa , Monetary policy -- South Africa , Economic development -- South Africa , Economic indicators -- South Africa , Business cycles -- History -- 20th century , Business cycles -- South Africa , South Africa -- Economic conditions
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1040 , http://hdl.handle.net/10962/d1004722 , Recessions -- South Africa , Monetary policy -- South Africa , Economic development -- South Africa , Economic indicators -- South Africa , Business cycles -- History -- 20th century , Business cycles -- South Africa , South Africa -- Economic conditions
- Description: This paper examines the ability of the yield curve to predict recessions in South Africa, and compares its predictive power with other commonly used variables that include the growth rate in real money supply, changes in stock prices and the index of leading economic indicators. The study also makes an attempt to find out if monetary policy explains the yield spread's predictive power with regards to future economic activity. Regarding methodology, the standard probit model proposed by Estrella and Mishkin (1996) that directly estimates the probability of the economy going into recession is used. Results from this model are compared with a modified probit model suggested by Dueker (1997) that includes a lagged dependent variable. Results presented in the paper provide further evidence that the yield curve, as represented by the yield spread between 3-month and IO-year government paper, can be used to estimate the likelihood of recessions in South Africa. The yield spread can produce recession forecasts up to 18 months, although it's best predictive power is seen at two quarters. Results from the standard probit model and the modified pro bit model with a lagged dependent variable are somewhat similar, although the latter model improves forecasts at shorter horizons up to 3 months. Compared with other indicators, real M3 growth is a noisy indicator and does not provide much information about future recessions, whilst movements in the All-Share index can provide information for up to 12 months but does not do better than the yield curve. The index of leading economic indicators outperforms the yield spread in the short run up to 4 months but the spread performs better at longer horizons. Based on the results from the study, it appears that changes in monetary policy explain the yield spread's predictive power. This is because the yield spread loses its explanatory power when combined with a variable representing the monetary policy stance of the central bank.
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- Date Issued: 2006
The role of small, medium and micro-sized enterprises (smm's) in the socio-economic development of Buffalo City
- Authors: Sinxoto, Nomhle Beauty
- Date: 2007
- Subjects: Small business -- South Africa -- Buffalo City , South Africa -- Economic conditions
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8738 , http://hdl.handle.net/10948/793 , Small business -- South Africa -- Buffalo City , South Africa -- Economic conditions
- Description: Thirteen years in the new democratic South Africa, South Africa is still faced with socio-economic problems such as high rates of unemployment, shortage of housing, crime and HIV/Aids. Buffalo city falls within the Amathole District Municipality (ADM). ADM population is estimated at + 1, 67 million, being predominantly rural and living in low socio-economic conditions. The demographic trends of ADM population depict high poverty, illiteracy and unemployment rates, rendering them prone to high morbidity and mortality (www.amathole.gov.za, 2007). The aim of this research was to assess the role of the SMMEs in the socio-economic development of Buffalo City. This study is based on exploratory quantitative and qualitative research methodologies. Using a convenience sampling technique structured questionnaires were used to collect data amongst 28 SMMEs in Buffalo City. The findings of this study suggest that SMMEs play a vital role in the socio-economic development of Buffalo City. The SMMEs create employment and incomes; provide human capital investment in form of training programs and HIV/Aids programs; make donations to community structures; give sponsors to various sports clubs and food to the homeless. Finally SMMEs contribute towards tax revenues that in turn help reduce poverty and redistribute wealth. However, SMMEs in Buffalo City face a number of constraints, namely, lack of access to funding, lack of operating space, and high cost of property to lease and difficulty in finding trained competent staff. Further, the perceptions of the SMMEs about the adjudication of tenders was some biasness in the adjudication of tender in favour of those who were close to the public officials. There was no accountability and professionalism amongst the adjudicating officials. Finally the government was not doing enough to encourage SMME development in Buffalo City. In view of the socio-economic benefits of the SMMEs in Buffalo city, it is recommended that support programmes to the SMMEs should be enhanced. On the basis of the findings in this study, it is suggested that assistance to the SMMEs should go beyond institutional support such as Ntsika, Khula, DTI and/or SEDA but should be targeted to funding opportunities for the SMMEs. Commercial banks should be involved in ensuring that SMMEs obtain access to funding. Infrastructural facilities such as affordable business premises should be provided for the SMMEs. Affordable premises will reduce the overhead costs of the SMMEs and in turn increase the profits of these SMMEs. Increase the profits of the SMMEs will ensure the survival of the SMMEs and will in turn contribute towards the upliftment of the socio-economic status of the people who would have otherwise been unemployed, destitute and poor.
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- Date Issued: 2007
The role of export diversification on economic growth in South Africa: 1980 - 2010
- Authors: Mudenda, Caroline
- Date: 2012
- Subjects: Economic development -- South Africa , International trade , Exports -- South Africa , Capital movements -- South Africa , Human capital -- South Africa , Free trade -- South Africa , Foreign exchange -- South Africa , South Africa -- Economic conditions
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11463 , http://hdl.handle.net/10353/d1007044 , Economic development -- South Africa , International trade , Exports -- South Africa , Capital movements -- South Africa , Human capital -- South Africa , Free trade -- South Africa , Foreign exchange -- South Africa , South Africa -- Economic conditions
- Description: This study examined the role of export diversification on economic growth in South Africa. The study used annual time series data for the period covering 1980 to 2010 and employed a Vector Error Correction Model to determine the effects of export diversification and possible factors that affect it on economic growth. Possible factors that affect export diversification considered as independent variables in this study include gross capital formation, human capital, real effective exchange rate and trade openness. Results of the study reveal that export diversification and trade openness are positively related to economic growth while real effective exchange rate, capital formation and human capital have negative long run relationships with economic growth. The study recommended the continual implementation of trade liberalisation by the South African government. The South African government is also encouraged to promote the production of a diversified export basket through subsidisation, promotion of innovation and production of new products.
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- Date Issued: 2012
The relationship between interest rates and inflation in South Africa : revisiting Fisher's hypothesis
- Authors: Mitchell-Innes, Henry Alexander
- Date: 2006
- Subjects: Fisher effect (Economics) , Interest rates -- South Africa , Interest rates -- Effect of inflation -- South Africa , Inflation (Finance) -- South Africa , Monetary policy -- South Africa , Banks and banking, Central -- South Africa , South Africa -- Economic conditions
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:991 , http://hdl.handle.net/10962/d1002726 , Fisher effect (Economics) , Interest rates -- South Africa , Interest rates -- Effect of inflation -- South Africa , Inflation (Finance) -- South Africa , Monetary policy -- South Africa , Banks and banking, Central -- South Africa , South Africa -- Economic conditions
- Description: This thesis investigates the relationship between expected inflation and nominal interest rates in South Africa and the extent to which the Fisher effect hypothesis holds. The hypothesis, proposed by Fisher (1930), that the nominal rate of interest should reflect movements in the expected rate of inflation has been the subject of much empirical research in many industrialised countries. This wealth of literature can be attributed to various factors including the pivotal role that the nominal rate of interest and, perhaps more importantly, the real rate of interest plays in the economy. The validity of the Fisher effect also has important implications for monetary policy and needs to be considered by central banks. Few studies have been conducted in South Africa to validate this important hypothesis. The analysis uses the 3-month bankers’ acceptance rate and the 10-year government bond rate to proxy both short- and long-term interest rates. The existence of a long-run unit proportional relationship between nominal interest rates and expected inflation is tested using Johansen’s cointegration test. The data is analysed for the period April 2000 to July 2005 as the research aims to establish whether the Fisher relationship holds within an inflation targeting monetary policy framework. The short-run Fisher effect is not empirically verified. This is due to the effects of the monetary policy transmission mechanism and implies that short-term nominal interest rates are a good indication of the stance of monetary policy. A long-run cointegrating relationship is established between long-term interest rates and expected inflation. The long-run adjustment is less than unity, which can be attributed to the credibility of the inflation-targeting framework.
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- Date Issued: 2006
The prospects for industrialisation in the new South Africa : inaugural lecture delivered at Rhodes University
- Authors: Bell, Robert Trevor
- Date: 1990-10-17
- Subjects: South Africa -- Industries , South Africa -- Economic conditions -- 1961-1991 , South Africa -- Economic conditions
- Language: English
- Type: Text
- Identifier: vital:597 , http://hdl.handle.net/10962/d1020666 , ISBN 0868102121
- Description: Inaugural lecture delivered at Rhodes University , Rhodes University Libraries (Digitisation)
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- Date Issued: 1990-10-17
The impact of the cultural and creative industries on the economic growth and development of small cities and towns - guidelines for creating a regional cultural policy
- Authors: Ndhlovu, Raymond
- Date: 2018
- Subjects: Cultural industries -- South Africa , Cultural industries -- Economic aspects -- South Africa , Cultural policy , South Africa -- Economic conditions , Economic development -- South Africa -- Eastern Cape , South Africa. Department of Arts and Culture , Standard Bank National Arts Festival
- Language: English
- Type: text , Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/61524 , vital:28032
- Description: The arts and cultural sector has come under even more financial strain than it previously was, as it has to compete with other sectors of the economy for the very limited public funding that is available. It is in this context that the economic impact, and the role, of the arts and cultural sector towards advancing economic growth and development, needs be examined. This thesis investigates the potential for the positive impact of the cultural and creative industries (CCIs) on growth and development of small cities and towns. Furthermore, it also provides guidelines for the development of regional cultural policy in small cities and towns. The CCIs have also been touted as a catalyst for economic growth and economic development, hence the global rise in their interest. For example, the CCIs have been used to redevelop and revive urban areas that have been rundown. CCIs, however, tend to develop in clusters, and additionally, they cluster around large cities. However, the lack of reliance of some CCIs on long supply chains or high-technology inputs may make them suitable candidates for investment in small cities and towns. Additionally, the link that small cities and towns have with rural and isolated areas makes them potential engines for driving growth, development, as well as employment creation for these areas, given their decline as a result of the transition from the traditional agricultural economy, to the knowledge economy. As CCIs have the propensity to drive government’s macroeconomic objectives such as efficiency, equity, economic growth and job creation, it is necessary to develop cultural policy that regards this. The tendency of CCIs to cluster and develop around large cities inevitably means that very little research into cultural policy directed towards regions without large cities and towns has been done. By the same token, very little research has also been conducted on how to craft cultural policy for such areas. In order then, for cultural policy for regions without large cities and towns to be developed, it is necessary to investigate, and provide, guidelines on, how to develop cultural policy for such regions. As a case study, the Sarah Baartman District Municipality (SBDM) in the Eastern Cape was chosen. The SBDM has no large cities and towns, but the District Municipality has identified the CCIs as a potential growth sector, and is in the process of developing a regional cultural policy. The area also includes Grahamstown, which not only hosts the National Arts Festival, which is the largest arts event of its type in Africa, but is also piloting the “Creative City” project in South Africa. An audit and mapping study was conducted on the CCIs in the SBDM; this was based on a national mapping study commissioned by the Department of Arts and Culture. Further internet searches, as well as consultations with the provincial and regional Department of Arts of Culture, coupled with snowball sampling, also aided in the identification of CCIs, and consequently, the “creative hotspots” within the SBDM. Two random samples of stakeholders were chosen; the CCI owners and practitioners, as well as key stakeholders such as government officials, and interviews conducted with both groups, in order to get a first-hand perspective on the operations, activities, challenges, and opportunities that are faced by the CCIs. The study found that there were at least 441 CCIs in the SBDM, with two local municipalities (Dr. Beyers Naude and Makana) hosting the largest share of these (145 and 113 CCIs in each local municipality respectively), which indicates some support for the ‘clustering’ theory. It was also found that the local municipalities that had the largest number of CCIs also experienced better socio-economic welfare. Furthermore, based on the UNESCO Framework for Cultural Statistics (FCS) domains, the Visual Arts and Crafts; Information, Books and Press; and, Cultural Heritage domains were the largest domains represented in the SBDM. It was concluded that cultural policy that is developed, ought to take advantage of, and build on, these existing clusters, as well as the domains that are most prevalent in the region. To demonstrate the impact of cultural festivals on growth and development, a socio-economic impact study was undertaken at the 2016 National Arts Festival (NAF) in Grahamstown. Face to interviews, as well as self-completion questionnaires were used, with respondents at different venues, attending a variety of shows, and across a range of demographics, being interviewed, in order to get a representative sample of Festival attendees. It was found that the economic impact of the 2016 NAF on the city of Grahamstown was R94.4 million. Over and above the economic value of the NAF, it was also found that there were nonmarket benefits (social and intrinsic values) of the NAF, that included audience development, education of the arts and culture, social cohesion, and community development. The inability to directly track and measure social and intrinsic values proved to be a challenge. The study concluded that in order for successful cultural policy to be developed in regions without large cities and towns, it is first necessary to carry out a study to identify what resources are present, and where they are. Locating resources enables cluster identification - as clusters encourage comparative and competitive advantage, it is worthwhile to invest in areas where there are clusters. Therefore, in the allocation of scarce public funds, cultural policy needs to guide investment in to areas where established clusters indicate existing comparative advantage. In terms of equity and transformation, it is also necessary to evaluate labour markets and ownership patterns when developing cultural policy. Beyond the analysis of physical and human resources, the study also found that a crucial step towards developing successful cultural policy is identification of opportunities and challenges faced by the practitioners themselves; the policy ought to capitalise on the opportunities, whilst attempting to correct the challenges faced. Also of importance is aligning the proposed policy and its objectives with regional, provincial and national aims and objectives. Finally, it is important to include a monitoring and evaluation tool that will evaluate the performance of the policy against its stated aims and objectives.
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- Date Issued: 2018
The impact of stock market development on economic growth: evidence from South Africa
- Authors: Vacu, Nomfundo Portia
- Date: 2013
- Subjects: Stock exchanges -- South Africa , Economic development -- South Africa , Stocks -- Economic aspects -- South Africa , South Africa -- Economic conditions , Stock market development , Economic growth , South Africa
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11655 , http://hdl.handle.net/10353/d1006983 , Stock exchanges -- South Africa , Economic development -- South Africa , Stocks -- Economic aspects -- South Africa , South Africa -- Economic conditions , Stock market development , Economic growth , South Africa
- Description: The main objective of this study is to examine the long run relationship between stock market development and economic growth in the case of South Africa. The study used quarterly data covering the period from 1990Q1 to 2010Q4. To empirically test the link between the two variables, the study used the Johnson’s cointegration approach and Granger causality so as to test the direction of the relationship. The Vector Error Correction Model was also employed to capture both short run and long run dynamics. Generally, the results reveal that a long run relationship exists between the two variables and the causality flows from economic growth to stock market development. Also, the extent to which of stock market development impacts on growth is statistically weak.
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- Date Issued: 2013
The impact of real exchange rate on exports in South Africa
- Authors: Mbewu, Asanda
- Date: 2017
- Subjects: Foreign exchange rates -- South Africa Exports -- South Africa , South Africa -- Economic conditions
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/19015 , vital:28765
- Description: The purpose of this study is to establish the impact of real exchange rate on exports in South Africa. In conducting the empirical test, the Vector Error Correction Model and annual time series data between 1973 and 2014 has been utilised. In the model, exports are the dependent variable and the real effective exchange rates, gross domestic product, mining, agricultural, foreign direct investments, and merchandise export prices are explanatory variables. A significant inverse relationship between real effective exchange rates and exports was confirmed in line with economic theory. Except for the Gross Domestic Product which exhibited a positive relationship, all other explanatory variables displayed an inverse relationship with exports. All other variables exhibited a significant impact except for Foreign Direct Investments. Based on the findings of this study, firm and practical policy recommendations are made including a moderated adjustment of monetary and fiscal policy to ensure competitiveness on the supply side.
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- Date Issued: 2017
The impact of economic downturn on black economic empowerment and banks
- Authors: Daniels, Sinclair Lonwabo
- Date: 2010
- Subjects: South Africa -- Economic conditions -- 21st century , South Africa -- Economic conditions , Business enterprises, Black -- South Africa , Blacks -- Employment -- South Africa , Employee empowerment -- South Africa , Banks and banking -- South Africa
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:8620 , http://hdl.handle.net/10948/1505 , South Africa -- Economic conditions -- 21st century , South Africa -- Economic conditions , Business enterprises, Black -- South Africa , Blacks -- Employment -- South Africa , Employee empowerment -- South Africa , Banks and banking -- South Africa
- Description: The purpose of this treatise is to ascertain the impact of economic downturn on Black Economic Empowerment (BEE) and Banks. This has been sparked by the huge speculations in the market as to what will happen to BEE and how will the banks cope in general with the impact of this scourge. It is imperative to understand the influence of the 2008+ economic downturn on socio-economic reconstruction and development in South Africa and the black economic empowerment and its funding mechanisms. The treatise has two phases the, namely the theoretical phase and a bit of narrative phase. In the theoretical phase the research study interrogates what the literature review reveals about the economic downturn, BEE as well as performances of different banks across the world. This shows the economic impact that the banks have had to endure during the economic downturn. This resulted in stock markets losing their value. The dividend earners were significantly affected including a sizeable number of BEE companies. The BEE companies are perceived to be too reliant on debt on to finance their deals and this treatise will look at various options of financing a BEE deal and what is deem to the most suited financing structure. The narrative phase involves semi-structured interviews that were conducted in order to ascertain the real impact that South African were faced with and how they have managed to steer clear of the turbulent waters. This also looked at how the BEE consultant views the current occurrences in the market.
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- Date Issued: 2010
The Grameen Bank model of microcredit and its relevance for South Africa
- Authors: Akpan, Iniobong Wilson
- Date: 2005
- Subjects: Grameen Bank , Microfinance -- South Africa , Microfinance -- Bangladesh , Credit -- Management , Risk management , Poor -- Finance, Personal , South Africa -- Economic conditions , Bangladesh -- Economic conditions
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:980 , http://hdl.handle.net/10962/d1002714 , Grameen Bank , Microfinance -- South Africa , Microfinance -- Bangladesh , Credit -- Management , Risk management , Poor -- Finance, Personal , South Africa -- Economic conditions , Bangladesh -- Economic conditions
- Description: Among the reasons for financial exclusion is the fact that the poor, being largely illiterate and unemployed, are traditionally perceived as ‘bad credit risks’. This is the dominant perception of the poor in the formal credit markets – a perception that also exists in the microcredit sector. In other words, while information asymmetry is a recognized problem in lender-borrower relationships, lenders consider the problem particularly severe when they contemplate doing business with the poor. A contrasting paradigm, such as the one adopted by Grameen Bank of Bangladesh, views the poor as possessing economic potentials that have not been tapped – that is, as ‘good credit risks’. Grameen Bank’s microcredit features appear to have successfully mitigated the problems of information asymmetry and, to a large extent, made it possible for the poor to access microenterprise credit. Using the Grameen Bank model as a benchmark, this study examined the lending features of private sector microlenders in South Africa and those of KhulaStart (credit) scheme. The aim was to identify how the lending features affect microenterprise credit access. Primary data were obtained through interviews, while relevant secondary data were also used in the study. A key finding of the study was that while the Khulastart scheme was, like Grameencredit, targeted at the poor, the method of its delivery appeared diluted or unduly influenced by the conventional (private sector) paradigm that pre-classifies people as ‘good’ or ‘bad’ credit risks. As a result, the scheme was not robust enough to support microenterprise credit access. This has consequences for job-creation and poverty reduction. Based on the findings, the study maintains that a realistic broadening of microenterprise credit access will not occur unless there is a fundamental paradigm shift in microcredit practices, and unless measures designed to mitigate information asymmetries are sensitive to the historical, economic and sociocultural realities of the South African poor.
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- Date Issued: 2005
The global financial crisis and its impact on the South African economy
- Authors: Madubeko, Vongai
- Date: 2010
- Subjects: Globalization -- Economic aspects , Global Financial Crisis, 2008-2009 , South Africa -- Economic conditions
- Language: English
- Type: Thesis , Masters , M Com
- Identifier: vital:11457 , http://hdl.handle.net/10353/363 , Globalization -- Economic aspects , Global Financial Crisis, 2008-2009 , South Africa -- Economic conditions
- Description: This dissertation investigates the effects of the financial crisis on the South African economy. In order to do this, an index which describes the financial conditions of the South African economy is constructed and computed. The index indicates that domestic South African financial conditions have deteriorated substantially during the period under study and so the study investigates how this has impacted on the country’s economic growth. A VAR model with South African variables is specified and used to assess the quantitative effects of the financial crisis on South African real GDP growth. Results suggest that the South African economy was not significantly affected by the crisis, but economic growth was slowed down and may still grow substantially slower in the next few years due to the financial crisis. These results corroborate the theoretical predictions and are also supported by previous studies.
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- Date Issued: 2010
The functioning of the interbank market and its significance in the transmission of monetary policy
- Authors: De Angelis, Catherine
- Date: 2013-06-11
- Subjects: South African Reserve Bank , Monetary policy -- South Africa , Foreign exchange rates -- South Africa , Money market -- South Africa , Banks and banking -- South Africa , Repurchase agreements -- South Africa , South Africa -- Economic policy , South Africa -- Economic conditions
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1075 , http://hdl.handle.net/10962/d1008054 , South African Reserve Bank , Monetary policy -- South Africa , Foreign exchange rates -- South Africa , Money market -- South Africa , Banks and banking -- South Africa , Repurchase agreements -- South Africa , South Africa -- Economic policy , South Africa -- Economic conditions
- Description: Monetary policy in South African is the primary means by which the authorities can influence activity in the overall economy. The South African Reserve Bank accommodates banks through repo transactions for which they charge the repo rate. The most important market in the transmission of the repo rate to the rest of the economy is the interbank market. As such, a detailed discussion of this market is given. In September 200 I the monetary authorities made certain adjustments to the repo system of accommodation, which included changing the repo rate from a floating rate to a fixed rate that would be administratively determined by the MPC. This was done to address certain weaknesses in the floating rate system. This thesis examines and compares the period before and after the adjustments to the repo system, with the aim of determining whether or not the monetary authorities achieved the goals intended from making this change. The repo rate, prime interbank rate, 3-month NCO rate and the prime lending rate are analysed using the Engle-Granger two variable approach and an ECM model to test for causality. It was found that the monetary authorities did not achieve their intended goals as the relationship between the repo rate and the interbank rate was more significant in the first period. Furthermore, the direction of causality the authorities hoped to achieve by implementing the changes were in fact already in place. As such the adjustments to the system changed the transmission mechanism from the one desired by the authorities to one that was not intended. The conclusions reached by this study show that, in terms of the objectives of the monetary authorities, the previous repo system functioned better. , KMBT_363 , Adobe Acrobat 9.54 Paper Capture Plug-in
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The effects of external shocks on economic growth in South Africa
- Authors: Mzayidume, Lonwabo
- Date: 2022-04
- Subjects: Economic development , South Africa -- Economic conditions
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10948/58024 , vital:58499
- Description: External shocks are defined as unexpected changes in an economic variable which can influence economies either positively or negatively. Examples of such shocks can include oil price and terms of trade shocks. Globalisation has increased the susceptibility of economies worldwide to economic shocks emanating from developed countries, due to the existing trade and financial links between various countries around the world. The objectives of this study are to investigate the effects of external shocks on economic growth in South Africa and to develop policies which could be used to prevent or soften the negative effects of external shocks in South Africa. Since the beginning of democracy in 1994, the South African economy has been opened to the world market. However, there have not been substantial gains in terms of economic growth. A possible explanation for this is that the dynamics of large economies influence the average demand, average supply, economic activities, and price changes in small open economies. South Africa’s dependence on foreign trade and attracting foreign savings to drive domestic investment increases the country’s vulnerability to the effects of external shocks. In this study, the South African economy is proxied by one key measure of economic performance, economic growth rate. The purpose of the study is to advance the understanding of the effects of external shocks on economic growth in South Africa. The study uses the structural VAR model. As South Africa is a relatively small open economy, the structural VAR model is theoretically consistent with countries of similar ilk. This study concludes that South Africa’s economic growth is significantly affected by commodity price index, U.S. GDP, and oil rents. In addition, this study concludes that South Africa is contemporaneously and positively affected by oil rents shocks and terms of trade shocks. Furthermore, it shows that economic growth in South Africa is contemporaneously and negatively affected by capital inflow shocks, nominal vi exchange rate shocks, and CPI shocks. Further SVAR estimates support the finding that capital inflows adversely affect South African economic growth. A possible reason for this outcome is that the number of domestic producers is reduced as a result of domestic producers being negatively affected by the capital inflow shocks. To combat the adverse effects of capital inflows, the study recommends that South Africa enforces more measures to protect domestic producers. The implementation of protectionist policies is one way in which this could be accomplished. These policies would promote domestic producers and ensure the production of domestic goods and services is increased. , Thesis (MA) -- Faculty of Business and Economic science, 2022
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- Date Issued: 2022-04
The Educational Journal
- Date: 2005-12
- Subjects: Economics -- South Africa , South Africa -- Economic conditions , South Africa -- Social conditions
- Language: English
- Type: text , Article
- Identifier: http://hdl.handle.net/10948/38269 , vital:34539 , Bulk File 7
- Description: The Educational Journal was the official organ of the Teachers' League of South Africa and focussed on education within the context of a racialized South Africa. From the 2000s, the journal was published by the National Union of Public Service and Allied Workers (NUPSAW), a trade union formed in August 1998 from the amalgamation of militant and moderate trade unions and also operated in the education sphere.
- Full Text: false
- Date Issued: 2005-12
The economic rationale and modalities for rural infrastructure development: developmental local government in rural service delivery
- Authors: Stilwell, Ted , Atkinson, Doreen
- Date: 1999-09
- Subjects: Rural development -- South Africa , South Africa -- Economic conditions , Infrastructure (Economics) -- South Africa , Sustainable development -- South Africa , Local government -- South Africa
- Language: English
- Type: text , book
- Identifier: http://hdl.handle.net/10962/73841 , vital:30234 , 1919692444
- Description: The Policy Unit of the Development Bank of Southern Africa (DBSA) has developed a number of strategic themes embracing many cross-cutting issues. The main thrust of the Unit’s work, however, focuses on the core mandate of the Bank - infrastructure. In order to provide for a coherent whole, rural infrastructure must fit into a broader policy framework. Globally, the goals set for the first two decades of the next millennium are to address poverty and achieve food security. The DBSA can contribute to South Africa’s position on these global themes by addressing the issue of rural infrastructure delivery, taking cognisance of the South African government’s Growth, Employment and Redistribution (GEAR) programme. This discussion document will specifically address the local economic development activities of farm production and rural livelihoods in order to achieve food security, address poverty and foster economic growth in the marginalised, infrastructure-deprived rural areas of the country. It is assumed that additional entrepreneurial economic opportunities will arise at village and town level as producers become nett surplus producers, eg in small grain milling, cottage industry, village markets, processing (value adding), etc. In contrast to urban development, where economic activity is assumed by investing in infrastructure, the DBSA will actively have to support the transformation of economic activity in the rural scenario. One of the past successes of the DBSA has been the introduction of the Farmer Support Programme (FSP). The FSP’s provision of services and support, based on the needs of existing smallholders, is embedded in participatory planning and action. Without local initiatives, rural infrastructure cannot be delivered effectively to bolster economic growth, create jobs and redistribute income. Most of the country’s poor live in rural areas, and without rural development there can be no GEAR. Life in these areas needs to be made liveable by encouraging entrepreneurial development, which includes facilitating agriculture, creating jobs and increasing rural income through appropriate government actions for improving the welfare of rural households. One of the ways in which national, provincial and local government could have a broad-based impact is by providing rural economic infrastructure and, to this end, local government, including regional and district councils, has been mandated to develop integrated development plans. These plans have to include economic development plans, and entrepreneurial development has been singled out as important in this regard. From this it follows that district councils and municipalities have a prime responsibility for developing entrepreneurs, including farmers in their rural constituency.
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- Date Issued: 1999-09
The developmental state, social policy and social compacts: a comparative policy analysis of the South African case
- Authors: Gwaindepi, Abel
- Date: 2014
- Subjects: Economic development -- Political aspects -- South Africa , Income distribution -- South Africa , Democracy -- South Africa , Industrial policy -- Developing countries , South Africa -- Economic conditions , South Africa -- Social conditions
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1101 , http://hdl.handle.net/10962/d1013278
- Description: The history of economic thought is ‘flooded’ with neo-classical accounts despite the fact that neoclassical economics did not occupy history alone. This has caused the discourses on ‘lost alternatives’ to be relegated as the deterministic ‘straight line’ neo-classical historical discourses are elevated. Globally hegemonic neo-classical discourse aided this phenomenon as it served to subordinate any counterhegemonic local discursive processes towards alternatives. This study is premised on the theme of non-neoclassical ‘lost alternatives’ using the post-apartheid South Africa as a case study. Emerging from the apartheid regime, the impetus towards non-neoclassical redistributive policies was strong in South Africa but this did not gain traction as the ANC’s ‘growth through redistribution’ was replaced by globally hegemonic discourse which favoured ‘redistribution through growth’. This thesis postulates the idea of two waves of ‘internal’ discursive formations; capturing the transition to democracy up to 1996 as the first wave and the period from 2005 to about 2009 as the second wave. The developmental state paradigm (DSP) emerged as the central heterodox paradigm with ideas such as industrial policy, welfare, and social dialogue/compacts being main elements. The DSP was expressly chosen in the early 1990s, the first period of strong internal discursive formation, but faded as neo-classical policies, epitomised through GEAR, dominated the policy space. The DSP discourse gained vitality in the second wave of internal discursive formation (2005-2009) and it was associated with the subsequent Zuma’s administration. The study illustrates that the DSP has failed to be fully developed into a practical framework but remained only at rhetorical level with the phrase ‘developmental state’ inserted into government policy documents and documents of ANC as a ruling party. The thesis further illustrates that the DSP fared well ideologically because of its inclination to the ideology of ‘developmentalism’ tended to trump any socialist inclined policies such as a generous welfare regime. The thesis rebuts the notion of the DSP in South Africa which has only been amorphously developed with the phrase ‘developmental state’ becoming a mere buzzword. The thesis argues that the DSP in the 21st century is much more complex and the growing ‘tertiarisation’ of the economy makes the Social Democratic Paradigm SDP’s capability centric approach much more relevant for South Africa. The study goes further to argue that a (SDP) is much more suitable alternative for addressing South African colonial/apartheid legacies and consolidation of democracy.
- Full Text:
- Date Issued: 2014
Testing the applicability of the Twin deficits and the Ricardian equivalence hypotheses in South Africa
- Authors: Makua, Khutso Baltimore
- Date: 2021-04
- Subjects: Budget deficits -- South Africa , South Africa -- Economic conditions , Economics
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10948/51831 , vital:43376
- Description: This study investigates the applicability of the twin deficit and Ricardian equivalence hypotheses in South Africa by exploring the relationship between budget deficits and current account deficits for the period 1990-2020 in South Africa. The reviewed theoretical and empirical literature has shown the results of this relationship to be mixed, depending on the region in review and the policy regime in some instances. The Johansen cointegration test was used because it has advantage over the Engle-Granger over the number of cointegrating relationships they both test. Compared to Engle-Granger, Johansen cointegration allows for more than one cointegrating relationship. The test show evidence that there is cointegration between current account deficits, budget deficits and other explanatory variables. The tests indicated the presence of cointegration which led to the estimation of VECM. Co-integration and vector error correction modelling techniques were applied to South African data between 1990 to 2020 period. The study at hand indicated that government budget deficits have a long run negative effect on current account deficits, but Granger causality failed to prove the direction of causality between the main variables, current account deficits and current account deficits. Therefore, the study concluded that the twin deficits hypothesis is not applicable in South Africa and revealed that South Africa is a Ricardian economy as Granger causality could not establish that budget deficits cause current account deficits. , Thesis (MCom) -- Faculty of Business and Economic Sciences, Economics, 2021
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- Date Issued: 2021-04
Tax revolts: an international perspective
- Authors: Tinotenda, Tariro Chizanga
- Date: 2020
- Subjects: Taxation -- Public opinion , Taxation -- Law and legislation -- South Africa , Income tax -- South Africa , South Africa -- Economic conditions , Fiscal policy -- South Africa
- Language: English
- Type: text , Thesis , Masters , MComm
- Identifier: http://hdl.handle.net/10962/166116 , vital:41330
- Description: The main goal of this study is to investigate whether tax revolts currently taking place and apparently threatening to take place in South Africa follow patterns shown in past international tax revolts or follow a unique pattern of their own. Tax revolts or tax rebellions are not a new phenomenon; they can be traced back to the beginning of time. Renowned tax revolts of the past include the Magna Carta and the Peasants’ Revolt in England, the Boston Tea Party, the Whiskey Rebellion, the Zimbabwean poll tax revolt, the Bambatha rebellion, the Tigre Rebellion, Proposition 13 and Margaret Thatcher’s poll tax revolt. These tax revolts were usually caused by the high burden of taxation, excessive government expenditure, corruption of government officials, declining tax morale of taxpayers and taxpayers’ perceptions of unfairness. In South Africa, elements of tax revolts have been on the rise. There has been a tax revolt against the e-tolling system in Gauteng since 2013. Non-payment of municipal rates is another form of tax revolt that has been and is happening in South Africa. Trade unions have also threatened strikes and mass action against various tax changes, including the value-added tax increase. Taxpayers, through media reporting, have been witnessing an increase in the use of taxpayers’ money for non-governmental agendas or overstated budgets. An increasing number of South Africans have been emigrating financially from South Africa to avoid a high taxation burden. The study falls within a post-positivist paradigm and an interpretive methodology is applied in the present research. The methodology is based on the fact that the social reality of tax revolts is not singular or objective, instead it is influenced by human experiences and social contexts. The study finds that tax revolts are currently occurring and threatening to occur in South Africa. The patterns of South African tax revolts are to a great extent similar to the patterns of international tax revolts, indicating the universalism of tax revolts. The study also confirms that South African tax revolts are, to a certain extent, unique.
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- Date Issued: 2020