Is there an inverse-u relationship between financialisation and investment?: South Africa’s stock market capitalisation in comparative perspective
- Authors: Owen, Michael Robert
- Date: 2021-10
- Subjects: Monetary policy South Africa , Globalization , Economics South Africa , Capital movements South Africa , Stock exchanges South Africa , Investments South Africa , Economic development South Africa , South Africa Economic conditions 1991-
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10962/191084 , vital:45058
- Description: In recent decades, the growth and fluctuations in the financial sector have become increasingly disjointed from events in the real economy. There has been a dramatic increase in global market integration and globalisation since the 2008 financial crisis. The argument presented in the thesis shows perspective from the two general debates in Economics. The Orthodox view, which suggests there is an efficient flow of resources between people and institutions over time, supports the argument that there is a positive relationship between financialisation and economic growth. Alternatively, the Heterodox view argues that financial liberalisation fails to anticipate market effects and requires intervention in order to limit negative consequences. More recent studies have proposed an inverse-U theory between financialisation and investment, which suggests that there is a threshold, above which further financial development and financial globalisation has detrimental effects on the real economy. With South Africa being a developing country that is highly reliant on capital inflows to finance the economy, there is space for more acute research to investigate whether South Africa has surpassed this threshold. This study focusses on one aspect of this relationship, namely the relationship between Stock Market Capitalisation and Investment. It uses panel data analysis and other methods to explore whether such an inverse-U relationship exists internationally, and whether South Africa is suffering from the effects of financialisation. , Thesis (MCom) -- Faculty of Commerce, Economics and Economic History, 2021
- Full Text:
- Date Issued: 2021-10
- Authors: Owen, Michael Robert
- Date: 2021-10
- Subjects: Monetary policy South Africa , Globalization , Economics South Africa , Capital movements South Africa , Stock exchanges South Africa , Investments South Africa , Economic development South Africa , South Africa Economic conditions 1991-
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10962/191084 , vital:45058
- Description: In recent decades, the growth and fluctuations in the financial sector have become increasingly disjointed from events in the real economy. There has been a dramatic increase in global market integration and globalisation since the 2008 financial crisis. The argument presented in the thesis shows perspective from the two general debates in Economics. The Orthodox view, which suggests there is an efficient flow of resources between people and institutions over time, supports the argument that there is a positive relationship between financialisation and economic growth. Alternatively, the Heterodox view argues that financial liberalisation fails to anticipate market effects and requires intervention in order to limit negative consequences. More recent studies have proposed an inverse-U theory between financialisation and investment, which suggests that there is a threshold, above which further financial development and financial globalisation has detrimental effects on the real economy. With South Africa being a developing country that is highly reliant on capital inflows to finance the economy, there is space for more acute research to investigate whether South Africa has surpassed this threshold. This study focusses on one aspect of this relationship, namely the relationship between Stock Market Capitalisation and Investment. It uses panel data analysis and other methods to explore whether such an inverse-U relationship exists internationally, and whether South Africa is suffering from the effects of financialisation. , Thesis (MCom) -- Faculty of Commerce, Economics and Economic History, 2021
- Full Text:
- Date Issued: 2021-10
Phylogeography and reproductive isolation of the brown mussel, Perna perna, on the South African coastline
- Authors: Barker, Cassandra
- Date: 2021-10
- Subjects: Mexilhao mussel South Africa , Phylogeography South Africa , Mexilhao mussel Reproduction , Mexilhao mussel Genetics , Intertidal organisms South Africa , Mexilhao mussel Climatic factors South Africa , Cytochrome oxidase , Mitochondrial DNA , Haplotype network
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10962/190041 , vital:44958
- Description: Maintenance of a species’ abundance and adaptive potential is partially dependent on its genetic diversity. Distinct genetic lineages within a species can differ significantly in their resistance and resilience to environmental pressure. An assessment of such differences is key to grasp the adaptive potential of a species. Physical environmental conditions are significant determinants of the distribution of species and their genetic lineages. Under climate change scenarios, the assessment of the temporal stability of the spatial distribution of genetic structure has important consequences for conservation as it offers key insights into the adaptive potential and evolutionary capacity of a species. This thesis investigated the phylogeography and reproductive isolation of Perna perna, the brown mussel. This species is an ecologically and economically important intertidal mussel on South Africa’s coastline. It was determined in 2007 that there were two distinct genetic lineages of P. perna present on South Africa’s coastline, the Eastern and Western lineage. This thesis compared mitochondrial DNA between samples collected in 2007 and samples collected in 2019 to determine differences in genetic structure of P. perna over time. This thesis further investigated the reproductive timing of the two lineages to determine if this contributes to the maintenance of the genetic structure of this species. The results show that there is a shift in the distribution of the Eastern lineage since 2007, an increase in the range of the overlap region, and there was a change in genetic diversity in the form of private haplotypes between 2007 and 2019. The lineages have unsynchronised spawning and reproductive patterns are more closely linked to changes in temperature. While the lineages have shown slight distributional changes over time, the influence of environmental conditions and the predicted changes in sea surface temperatures could see a change in future populations’ fitness and dispersal. Thus, changes in sea surface temperature could affect reproductive timing and the future genetic stability of the species. , Thesis (MSc) -- Faculty of Science, Zoology and Entomology, 2021
- Full Text:
- Date Issued: 2021-10
- Authors: Barker, Cassandra
- Date: 2021-10
- Subjects: Mexilhao mussel South Africa , Phylogeography South Africa , Mexilhao mussel Reproduction , Mexilhao mussel Genetics , Intertidal organisms South Africa , Mexilhao mussel Climatic factors South Africa , Cytochrome oxidase , Mitochondrial DNA , Haplotype network
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10962/190041 , vital:44958
- Description: Maintenance of a species’ abundance and adaptive potential is partially dependent on its genetic diversity. Distinct genetic lineages within a species can differ significantly in their resistance and resilience to environmental pressure. An assessment of such differences is key to grasp the adaptive potential of a species. Physical environmental conditions are significant determinants of the distribution of species and their genetic lineages. Under climate change scenarios, the assessment of the temporal stability of the spatial distribution of genetic structure has important consequences for conservation as it offers key insights into the adaptive potential and evolutionary capacity of a species. This thesis investigated the phylogeography and reproductive isolation of Perna perna, the brown mussel. This species is an ecologically and economically important intertidal mussel on South Africa’s coastline. It was determined in 2007 that there were two distinct genetic lineages of P. perna present on South Africa’s coastline, the Eastern and Western lineage. This thesis compared mitochondrial DNA between samples collected in 2007 and samples collected in 2019 to determine differences in genetic structure of P. perna over time. This thesis further investigated the reproductive timing of the two lineages to determine if this contributes to the maintenance of the genetic structure of this species. The results show that there is a shift in the distribution of the Eastern lineage since 2007, an increase in the range of the overlap region, and there was a change in genetic diversity in the form of private haplotypes between 2007 and 2019. The lineages have unsynchronised spawning and reproductive patterns are more closely linked to changes in temperature. While the lineages have shown slight distributional changes over time, the influence of environmental conditions and the predicted changes in sea surface temperatures could see a change in future populations’ fitness and dispersal. Thus, changes in sea surface temperature could affect reproductive timing and the future genetic stability of the species. , Thesis (MSc) -- Faculty of Science, Zoology and Entomology, 2021
- Full Text:
- Date Issued: 2021-10
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