Elasticity of the South African economy towards portfolio investments in BRICS countries
- Authors: Taonezvi, Lovemore
- Date: 2019
- Subjects: Economic development -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/44537 , vital:38141
- Description: The emerging economies of Brazil, Russia, India, and China (BRIC) have been experiencing high growth rates since the turn of the millennium, whereas economic growth has been elusive in South Africa. As the newest member of BRICS, South Africa is expected to economically benefit through, amongst others, increases in capital flows, foreign investments by local firms, and increases in trade. Such benefits are anticipated to propel the country’s economic growth, thereby helping it to tackle its chronic problems of high unemployment, poverty, and economic inequality. The inclusion of South Africa in BRICS has, however, been viewed by critics as erroneous, since the country has, inter alia, poor economic growth; a small economy and population; and political instability. While foreign portfolio investment (FPI) inflows to South Africa have surged in recent years, economic growth has remained lacklustre. These flows have also faced sudden reversals, especially during the financial crisis of 2007-2009. With the potential to leverage its growth from intra-BRICS FPI inflows, it becomes of paramount significance for policymakers to have knowledge of the South African economy’s responsiveness to such inflows. With a theoretical framework based on the endogenous growth model, an augmented Cobb-Douglas production function was extended in this thesis in order to study the relationship between BRICS growth and intra-BRICS FPI in a dynamic panel data generalised method of moments (GMM) context. Similarly, the South African economy’s elasticity towards intraBRICS FPI was estimated. Vector autoregressive (VAR) analysis was used to evaluate the responsiveness of South Africa’s economy to an innovative shock to intra-BRICS FPI. Annual and quarterly data for the period 2000-2016 were used in panel data and VAR analysis, respectively. It was found that intra-BRICS FPI flows have a positive and statistically significant relationship with BRICS growth, while the elasticity of the South African economy to these flows is estimated at 0.007. Additionally, the efficiency and accessibility dimensions of financial market development do not assist FPI in promoting growth in BRICS, while financial market depth does. South Africa’s BRICS membership has a positive effect on its own growth, while for other BRICS nations, this membership is negative and insignificant. Credit rating downgrades have a negative and insignificant impact on economic growth, while the negative impact for inflation, government expenditure, and total labour employment is significant. Conversely, gross capital formation and trade openness have a positive and significant relationship with BRICS growth. The study also determined that a unit shock on intra-BRICS FPI resulted in negative fluctuations of South Africa’s economy within the first eight quarters before being positive and mostly constant thereafter. By supplementing domestic savings and facilitating the international integration of domestic financial markets, FPI promotes growth in BRICS. The short-term, ease of reversibility, and speculative nature of FPI are amongst some of the reasons for its destabilising effect on South Africa’s economy. Furthermore, inflation is a key determinant of FPI inflows to South Africa. Additional BRIC cooperation in FPI and trade; increased investments in domestic capital; reductions of inflation and corruption; investments in education and skills development; and stock market reforms are some of the recommendations for BRIC, and South Africa in particular. South Africa can consider prudential use of a mix of capital account controls, as well as fiscal and monetary policies to cushion its economy from FPI shocks in the short- to medium-term.
- Full Text:
- Date Issued: 2019
- Authors: Taonezvi, Lovemore
- Date: 2019
- Subjects: Economic development -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/44537 , vital:38141
- Description: The emerging economies of Brazil, Russia, India, and China (BRIC) have been experiencing high growth rates since the turn of the millennium, whereas economic growth has been elusive in South Africa. As the newest member of BRICS, South Africa is expected to economically benefit through, amongst others, increases in capital flows, foreign investments by local firms, and increases in trade. Such benefits are anticipated to propel the country’s economic growth, thereby helping it to tackle its chronic problems of high unemployment, poverty, and economic inequality. The inclusion of South Africa in BRICS has, however, been viewed by critics as erroneous, since the country has, inter alia, poor economic growth; a small economy and population; and political instability. While foreign portfolio investment (FPI) inflows to South Africa have surged in recent years, economic growth has remained lacklustre. These flows have also faced sudden reversals, especially during the financial crisis of 2007-2009. With the potential to leverage its growth from intra-BRICS FPI inflows, it becomes of paramount significance for policymakers to have knowledge of the South African economy’s responsiveness to such inflows. With a theoretical framework based on the endogenous growth model, an augmented Cobb-Douglas production function was extended in this thesis in order to study the relationship between BRICS growth and intra-BRICS FPI in a dynamic panel data generalised method of moments (GMM) context. Similarly, the South African economy’s elasticity towards intraBRICS FPI was estimated. Vector autoregressive (VAR) analysis was used to evaluate the responsiveness of South Africa’s economy to an innovative shock to intra-BRICS FPI. Annual and quarterly data for the period 2000-2016 were used in panel data and VAR analysis, respectively. It was found that intra-BRICS FPI flows have a positive and statistically significant relationship with BRICS growth, while the elasticity of the South African economy to these flows is estimated at 0.007. Additionally, the efficiency and accessibility dimensions of financial market development do not assist FPI in promoting growth in BRICS, while financial market depth does. South Africa’s BRICS membership has a positive effect on its own growth, while for other BRICS nations, this membership is negative and insignificant. Credit rating downgrades have a negative and insignificant impact on economic growth, while the negative impact for inflation, government expenditure, and total labour employment is significant. Conversely, gross capital formation and trade openness have a positive and significant relationship with BRICS growth. The study also determined that a unit shock on intra-BRICS FPI resulted in negative fluctuations of South Africa’s economy within the first eight quarters before being positive and mostly constant thereafter. By supplementing domestic savings and facilitating the international integration of domestic financial markets, FPI promotes growth in BRICS. The short-term, ease of reversibility, and speculative nature of FPI are amongst some of the reasons for its destabilising effect on South Africa’s economy. Furthermore, inflation is a key determinant of FPI inflows to South Africa. Additional BRIC cooperation in FPI and trade; increased investments in domestic capital; reductions of inflation and corruption; investments in education and skills development; and stock market reforms are some of the recommendations for BRIC, and South Africa in particular. South Africa can consider prudential use of a mix of capital account controls, as well as fiscal and monetary policies to cushion its economy from FPI shocks in the short- to medium-term.
- Full Text:
- Date Issued: 2019
’n Ondersoek na die kriteria vir die realisering van die woordeboekfunksies begrip, produksie en vertaling
- Authors: Blume, Jadé
- Date: 2017
- Subjects: Afrikaans language -- translations , Afrikaans language -- Lexicography
- Language: English
- Type: Thesis , Masters , MA
- Identifier: http://hdl.handle.net/10948/14587 , vital:27796
- Description: Daar is tot dusver nie genoegsaam besin oor die funksies waarvoor gebruikers woordeboeke benut en die woordeboekstrukture en datatipes wat nodig is om die gebruikers se behoeftes te bevredig nie. Hierdie studie betrek aspekte van woordeboeke, wat beteken dat dit binne die leksikografie as dissipline val. Hierdie dissipline is voortdurend besig om te ontwikkel en dek ’n groot area, aangesien verskillende gebruikers verskillende woordeboeke benodig afhangende van spesifieke behoeftes. Daar word aanvaar dat woordeboeke gebruikersvriendelik moet wees en dus op die behoeftes van die teikengebruikers afgestem moet wees en om dit te bepaal, moet die funksies waarvoor die woordeboek gebruik gaan word in ag geneem word. In hierdie studie word die belangrike funksies van begrip, produksie en vertaling as kategorieë vir samestelling gekoppel aan datatipes en strukture. Die rasionaal van hierdie studie is die gebrek aan ’n sistematiese en kritiese studie oor die rol wat die funksies begrip, produksie en vertaling speel by die samestelling van woordeboeke. Die doelwit van hierdie studie is om kriteria vir die inkleding van woordeboekstrukture in terme van woordeboekfunksies tydens die ontwerp en samestelling van woordeboeke (beide gedrukte en elektroniese woordeboeke) vas te stel. Die uitgangspunt is dat dit moontlik is om dit te kan doen en om daardeur ’n raamwerk te skep vir die maak van ’n woordeboek, wat die nuutste teorieë (die funksieteorie, linguistiese teorie en die bruikbaarheidsbenadering van die inligtingstegnologie) in ag neem. Hierdie navorsing is deur middel van ’n literatuurstudie ondersoek en die kriteria is aan die hand van praktiese voorbeelde toegelig.
- Full Text:
- Date Issued: 2017
- Authors: Blume, Jadé
- Date: 2017
- Subjects: Afrikaans language -- translations , Afrikaans language -- Lexicography
- Language: English
- Type: Thesis , Masters , MA
- Identifier: http://hdl.handle.net/10948/14587 , vital:27796
- Description: Daar is tot dusver nie genoegsaam besin oor die funksies waarvoor gebruikers woordeboeke benut en die woordeboekstrukture en datatipes wat nodig is om die gebruikers se behoeftes te bevredig nie. Hierdie studie betrek aspekte van woordeboeke, wat beteken dat dit binne die leksikografie as dissipline val. Hierdie dissipline is voortdurend besig om te ontwikkel en dek ’n groot area, aangesien verskillende gebruikers verskillende woordeboeke benodig afhangende van spesifieke behoeftes. Daar word aanvaar dat woordeboeke gebruikersvriendelik moet wees en dus op die behoeftes van die teikengebruikers afgestem moet wees en om dit te bepaal, moet die funksies waarvoor die woordeboek gebruik gaan word in ag geneem word. In hierdie studie word die belangrike funksies van begrip, produksie en vertaling as kategorieë vir samestelling gekoppel aan datatipes en strukture. Die rasionaal van hierdie studie is die gebrek aan ’n sistematiese en kritiese studie oor die rol wat die funksies begrip, produksie en vertaling speel by die samestelling van woordeboeke. Die doelwit van hierdie studie is om kriteria vir die inkleding van woordeboekstrukture in terme van woordeboekfunksies tydens die ontwerp en samestelling van woordeboeke (beide gedrukte en elektroniese woordeboeke) vas te stel. Die uitgangspunt is dat dit moontlik is om dit te kan doen en om daardeur ’n raamwerk te skep vir die maak van ’n woordeboek, wat die nuutste teorieë (die funksieteorie, linguistiese teorie en die bruikbaarheidsbenadering van die inligtingstegnologie) in ag neem. Hierdie navorsing is deur middel van ’n literatuurstudie ondersoek en die kriteria is aan die hand van praktiese voorbeelde toegelig.
- Full Text:
- Date Issued: 2017
Physical activity and other selected health promoting behaviours of university students living with HIV
- Authors: Kock, Sue-Anne Claire
- Date: 2013
- Subjects: Exercise- health aspects , Health promotion -- students
- Language: English
- Type: Thesis , Masters , MA
- Identifier: vital:10108 , http://hdl.handle.net/10948/d1020119
- Description: Southern Africa has the highest prevalence of Human Immunodeficiency Virus (HIV) infection in the world. With a high prevalence of HIV, as well as a rising incidence of chronic diseases of lifestyle (CDLs), South Africa is faced with the dual burden of infectious diseases and CDLs. Health promoting behaviours (HPBs), including physical activity (PA), maintaining good nutrition and taking responsibility for personal health, play an important role in managing the symptoms of HIV infection and the side effects of antiretroviral (ARV) use. Additionally HPBs improve health-related quality of life (HRQOL) in people living with HIV (PLWHIV). Furthermore, research indicates that HPBs should be encouraged among university students as they will become the future decision and policy makers in their places of employment. This study sought to determine the PA levels, HPBs and HRQOL of university students living with HIV, in order to better promote PA participation and HPBs in this population. Additionally, participants‘ perceptions of and attitudes towards exercise participation were investigated, as were barriers that mitigated against PA participation and HPBs. This study was exploratory-descriptive in nature and utilised a mixed methods design. The University Campus Health Clinic (CHC) staff recruited 29 HIV positive students (HIVPS) between the ages of 18 and 25 through purposive sampling. In the quantitative portion of the study the HIVPS completed a demographic questionnaire as well as three self-administered questionnaires, namely: the International Physical Activity Questionnaire (IPAQ), the Health-promoting Lifestyle Profile (version 2, HPLP-II) and the World Health Organisation Quality of Life Brief Questionnaire (WHOQOL-HIV-BREF) to determine PA levels, health-promoting lifestyle behaviours and HRQOL, respectively. Height and weight, as well as the most recent CD4 count were also recorded.
- Full Text:
- Date Issued: 2013
- Authors: Kock, Sue-Anne Claire
- Date: 2013
- Subjects: Exercise- health aspects , Health promotion -- students
- Language: English
- Type: Thesis , Masters , MA
- Identifier: vital:10108 , http://hdl.handle.net/10948/d1020119
- Description: Southern Africa has the highest prevalence of Human Immunodeficiency Virus (HIV) infection in the world. With a high prevalence of HIV, as well as a rising incidence of chronic diseases of lifestyle (CDLs), South Africa is faced with the dual burden of infectious diseases and CDLs. Health promoting behaviours (HPBs), including physical activity (PA), maintaining good nutrition and taking responsibility for personal health, play an important role in managing the symptoms of HIV infection and the side effects of antiretroviral (ARV) use. Additionally HPBs improve health-related quality of life (HRQOL) in people living with HIV (PLWHIV). Furthermore, research indicates that HPBs should be encouraged among university students as they will become the future decision and policy makers in their places of employment. This study sought to determine the PA levels, HPBs and HRQOL of university students living with HIV, in order to better promote PA participation and HPBs in this population. Additionally, participants‘ perceptions of and attitudes towards exercise participation were investigated, as were barriers that mitigated against PA participation and HPBs. This study was exploratory-descriptive in nature and utilised a mixed methods design. The University Campus Health Clinic (CHC) staff recruited 29 HIV positive students (HIVPS) between the ages of 18 and 25 through purposive sampling. In the quantitative portion of the study the HIVPS completed a demographic questionnaire as well as three self-administered questionnaires, namely: the International Physical Activity Questionnaire (IPAQ), the Health-promoting Lifestyle Profile (version 2, HPLP-II) and the World Health Organisation Quality of Life Brief Questionnaire (WHOQOL-HIV-BREF) to determine PA levels, health-promoting lifestyle behaviours and HRQOL, respectively. Height and weight, as well as the most recent CD4 count were also recorded.
- Full Text:
- Date Issued: 2013
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