Bank Competition and Economic Growth: The Case of South Africa, Russia and China
- Authors: Sokapase ,Zukile
- Date: 2017
- Subjects: Banks and banking
- Language: English
- Type: Thesis , Masters , MCom (Economics)
- Identifier: http://hdl.handle.net/10353/14120 , vital:39846
- Description: This study examined the relationship between bank competition and economic growth across South Africa, Russia and China. In this regard, the study conducted a comparative analysis which allowed for country differences and thus enhanced the provision of relevant policy guidance given how each of the country’s economic growth is reacting to changes in bank competition. To account for country differences, the study estimated a random coefficient panel (RCP) model using Swamy’s generalised least squares (GLS) estimators for the period 1999 – 2015. Across the three countries, bank competition and economic growth have been found to be positively related. In addition, bank competition has been found to be highly significant in influencing economic growth across the three countries. However, the extent of influence that bank competition has on economic growth differs in each country. Therefore, this study recommends that policies aimed at promoting competition in the banking sector of South Africa, Russia and China should be adopted in order to promote economic growth.
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- Date Issued: 2017
The effect of gold price volatility on stock market returns in South Africa
- Authors: Gcadana, Nqabisa Mary
- Date: 2017
- Subjects: Stock exchanges --South Africa.
- Language: English
- Type: Thesis , Masters , MCom (Economics)
- Identifier: http://hdl.handle.net/10353/13359 , vital:39637
- Description: The South African stock market has become a major player in the African Securities Exchanges Association through its performance. Gold is one of the commodities that are traded at Johannesburg Stock Exchange, hence gold price fluctuations are the crucial factor that JSE needs to keep its eye on. The demand for gold in South Africa is continuously rising because gold has full security, less credit risk and is a highly liquid instrument. Based on the given background, the study examines the effect of gold price volatility on stock market returns in South Africa, employing the Generalised Autoregressive Conditional Heteroskedasticity (GARCH) (1.1) model. The study used monthly data covering the period from 2005 to 2017. The Storage model and discounted cash flows model which are the theories that connect gold price and stock market were specified. The research findings are supported by previous studies. The gold price volatility was found to have a negative effect on stock market returns, and the proxy of stock market returns is the All Share Index. The study will help to provide an understanding of how gold price volatility affects the stock market that will help policymakers to come up with policies that are relevant to volatility of gold price towards stock market.
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- Date Issued: 2017