An econometrical estimation of the demand for money in South Africa : the long-run function during the period 1918-60
- Authors: Maxwell, Thomas
- Date: 1969
- Subjects: Econometrics Keynesian economics Demand for money -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1065 , http://hdl.handle.net/10962/d1007618
- Description: Introduction: In recent years there has been a marked upsurge in the output of literature dealing with the demand for money, but with the exception of the North American Continent, empirical research has lagged distressingly far behind the voluminous output of theory. This dearth of empirical results has had a restrictive influence. Since any of the controversial points which are being disputed by theoreticians can only be resolved by recourse to empirical methods. The restriction of empirical research to the North American Continent has further meant that the various points under dispute have had only a limited qualification and consequently monetary theorists have had no indication as to the universalizability of their conclusions. There is thus a great need for empirical studies in other countries so that the validity of the rival theories can be tested under different conditions. It was with these thoughts in mind that the present study was undertaken. Its objectives are strictly national and no pretense of strict international comparability is made. Further, great care has been taken to avoid the pitfall so beloved of econometricians, the fallacy of reduction wherein strictly limited results are uncritically universalized. Thus no attempt has been made to draw conclusions which will have universal validity. The theoretically vital points which are going to be examined in the light of South African experience are: 1. The feasibility of distinguishing idle from active balances, and if this proves possible, the determination of the wealth and interest elasticities of these balances; 2. Dropping the explicit distinction between idle and active balances to (a) determine the role of interest rates, (b) determine the appropriate constraint on the demand function, (c) determine what effect different definitions of money have on (a) and (b); 3. To examine the stability of the demand function over time. Truth is, of course, many-sided and any uniform presentation can only aspire to present a one-sided picture, just like a photograph cannot hope to do justice to the full grandeur of nature, merely presenting a one-dimensional representation of a many dimensioned object. In spite of this restriction which is inherent in all econometrical studies, this one-sided picture seems to be justified in view of the lack of any unified and coherent treatment of the demand for money in South Africa.
- Full Text:
- Date Issued: 1969
- Authors: Maxwell, Thomas
- Date: 1969
- Subjects: Econometrics Keynesian economics Demand for money -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1065 , http://hdl.handle.net/10962/d1007618
- Description: Introduction: In recent years there has been a marked upsurge in the output of literature dealing with the demand for money, but with the exception of the North American Continent, empirical research has lagged distressingly far behind the voluminous output of theory. This dearth of empirical results has had a restrictive influence. Since any of the controversial points which are being disputed by theoreticians can only be resolved by recourse to empirical methods. The restriction of empirical research to the North American Continent has further meant that the various points under dispute have had only a limited qualification and consequently monetary theorists have had no indication as to the universalizability of their conclusions. There is thus a great need for empirical studies in other countries so that the validity of the rival theories can be tested under different conditions. It was with these thoughts in mind that the present study was undertaken. Its objectives are strictly national and no pretense of strict international comparability is made. Further, great care has been taken to avoid the pitfall so beloved of econometricians, the fallacy of reduction wherein strictly limited results are uncritically universalized. Thus no attempt has been made to draw conclusions which will have universal validity. The theoretically vital points which are going to be examined in the light of South African experience are: 1. The feasibility of distinguishing idle from active balances, and if this proves possible, the determination of the wealth and interest elasticities of these balances; 2. Dropping the explicit distinction between idle and active balances to (a) determine the role of interest rates, (b) determine the appropriate constraint on the demand function, (c) determine what effect different definitions of money have on (a) and (b); 3. To examine the stability of the demand function over time. Truth is, of course, many-sided and any uniform presentation can only aspire to present a one-sided picture, just like a photograph cannot hope to do justice to the full grandeur of nature, merely presenting a one-dimensional representation of a many dimensioned object. In spite of this restriction which is inherent in all econometrical studies, this one-sided picture seems to be justified in view of the lack of any unified and coherent treatment of the demand for money in South Africa.
- Full Text:
- Date Issued: 1969
The production and marketing of South African Maize since 1910, with special reference to the years 1954 to 1966
- Authors: Brits, Rudolph Nieuwoudt
- Date: 1969
- Subjects: South Africa. Maize Board , Corn industry -- South Africa , Corn -- South Africa -- Marketing , Corn -- South Africa -- Marketing -- Government policy
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1104 , http://hdl.handle.net/10962/d1013386
- Description: From Introduction: There is no evidence available that maize was known in the old world in ancient times. Seeds of barley and wheat have been found in ancient near eastern sites, but never has there been any trace of maize at all. Furthermore, maize as a plant is not mentioned in the Bible, and neither Greek nor Chinese literature makes any reference to maize. There is, therefore, nothing that suggests that maize was known in the Old world before about 1492. However, at that time, Christopher Columbus returned with a report about a new grain called "Maiz". At a later date explorers visiting America found that maize was being grown and consumed by the Red Indians in places as far apart as Canada and Chile. The consensus of opinion is, therefore, that maize originated in America and was only subsequently imported into Europe. However, in a very excellent paper, Dr. M.D.W. Jeffreys comes to the very convincing conclusion that "Maize, a non-self-propagating American plant, was introduced to east African littorals before the Portuguese rounded the Cape and was seen by the Chinese navigators at Melinde Circa 1414… Maize was brought to the Indian Ocean littorals by Arabs before 1400. Maize was brought into southern Africa by the Nguni by 1400 and later by the baVenda. Maize was introduced by the Dutch in 1658. There is no evidence that maize was introduced by the Portuguese. Irrespective of the exact date when maize was introduced into South Africa, it was only from the year 1840 that there was any real agricultural development in South Africa. At this date, all those who had participated in the Great Trek had more or less settled down, and substantial areas were planted with wheat, maize and oats.
- Full Text:
- Date Issued: 1969
- Authors: Brits, Rudolph Nieuwoudt
- Date: 1969
- Subjects: South Africa. Maize Board , Corn industry -- South Africa , Corn -- South Africa -- Marketing , Corn -- South Africa -- Marketing -- Government policy
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1104 , http://hdl.handle.net/10962/d1013386
- Description: From Introduction: There is no evidence available that maize was known in the old world in ancient times. Seeds of barley and wheat have been found in ancient near eastern sites, but never has there been any trace of maize at all. Furthermore, maize as a plant is not mentioned in the Bible, and neither Greek nor Chinese literature makes any reference to maize. There is, therefore, nothing that suggests that maize was known in the Old world before about 1492. However, at that time, Christopher Columbus returned with a report about a new grain called "Maiz". At a later date explorers visiting America found that maize was being grown and consumed by the Red Indians in places as far apart as Canada and Chile. The consensus of opinion is, therefore, that maize originated in America and was only subsequently imported into Europe. However, in a very excellent paper, Dr. M.D.W. Jeffreys comes to the very convincing conclusion that "Maize, a non-self-propagating American plant, was introduced to east African littorals before the Portuguese rounded the Cape and was seen by the Chinese navigators at Melinde Circa 1414… Maize was brought to the Indian Ocean littorals by Arabs before 1400. Maize was brought into southern Africa by the Nguni by 1400 and later by the baVenda. Maize was introduced by the Dutch in 1658. There is no evidence that maize was introduced by the Portuguese. Irrespective of the exact date when maize was introduced into South Africa, it was only from the year 1840 that there was any real agricultural development in South Africa. At this date, all those who had participated in the Great Trek had more or less settled down, and substantial areas were planted with wheat, maize and oats.
- Full Text:
- Date Issued: 1969
The theory of economic underdevelopment and its applicability to the Rhodesian economy
- Authors: Clarke, Duncan G, 1948-
- Date: 1969
- Subjects: Zimbabwe -- Economic conditions , Economic development -- Zimbabwe , Developing countries -- Economic conditions
- Language: English
- Type: Thesis , Honours , BCom
- Identifier: vital:1114 , http://hdl.handle.net/10962/d1014691
- Description: According to the canons of conventional economic philosophy the process of economic interpretation should be value neutral and strictly fall within the bounds of normative science. This approach is concerned not with goal setting but only with the technical possibilities of alternative means of successful tactics in a given overall strategy. It is the author's thesis that such premises patently ignore the fundamental truths of development problems, and that there exists a genuine need to bridge the gap that demarcates theory from practicality and truth from illusion. To seek "development" implies a challenge to the "status quo" of menial existence and perpetual servitude to the inhospitable forces of ones own environment. This attitude is in itself a value judgement, and in underdeveloped societies it is more than a mere academic quibble. Accordingly, this paper not only implicitly assumes "development" to be a desirable goal but also that it is necessary, and the objective of this study of an underdeveloped community shall be to examine the theoretical relevance, or otherwise, of general and partial theories of underdevelopment against the quantitative and qualitative evidence of the course of events that have in the past, and are likely in the future, to influence the development of the "Rhodesian economy".
- Full Text:
- Date Issued: 1969
- Authors: Clarke, Duncan G, 1948-
- Date: 1969
- Subjects: Zimbabwe -- Economic conditions , Economic development -- Zimbabwe , Developing countries -- Economic conditions
- Language: English
- Type: Thesis , Honours , BCom
- Identifier: vital:1114 , http://hdl.handle.net/10962/d1014691
- Description: According to the canons of conventional economic philosophy the process of economic interpretation should be value neutral and strictly fall within the bounds of normative science. This approach is concerned not with goal setting but only with the technical possibilities of alternative means of successful tactics in a given overall strategy. It is the author's thesis that such premises patently ignore the fundamental truths of development problems, and that there exists a genuine need to bridge the gap that demarcates theory from practicality and truth from illusion. To seek "development" implies a challenge to the "status quo" of menial existence and perpetual servitude to the inhospitable forces of ones own environment. This attitude is in itself a value judgement, and in underdeveloped societies it is more than a mere academic quibble. Accordingly, this paper not only implicitly assumes "development" to be a desirable goal but also that it is necessary, and the objective of this study of an underdeveloped community shall be to examine the theoretical relevance, or otherwise, of general and partial theories of underdevelopment against the quantitative and qualitative evidence of the course of events that have in the past, and are likely in the future, to influence the development of the "Rhodesian economy".
- Full Text:
- Date Issued: 1969
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