Changing planets and climates in select fantastic literature
- Authors: Ward, Brendan
- Date: 2016
- Language: English
- Type: Thesis , Masters , MA
- Identifier: http://hdl.handle.net/10962/3994 , vital:20578
- Description: This thesis is concerned with literature’s engagement with the environment, specifically ecosystems and climate change. Literature of the fantastic, works that break from the tradition of mimetic literature and the limits of realism, are the focus of this thesis, which argues, alongside ecocriticism, that literature must be part of the interdisciplinary drive towards greater ecological awareness. Speculative literature adds fantastic elements or draws on scientific extrapolations into the future, and offers a platform to engage with the science of environmental issues alongside philosophical engagements with the relationship between humans and the more-than-human world around them. This thesis draws on ecocriticism to examine the role of reading and criticism in constructing more ecologically sustainable societies. From this position, it asks how fantasy can be used to convey these themes. As a result, this thesis is interested in definitions of fantasy, drawing on science fiction and fantasy to examine Kathryn Hume’s framework of the fantastic impulse. Placing fantastic texts on two axes, Hume examines the ways texts support or subvert the reader’s expectations, and encourage or discourage reflection on their extratextual worlds. This thesis contends that, texts that encourage engagement are most transformative, but that the spectrum of engagement and disengagement challenges authors to navigate between didacticism and emotive imagery. To show this, this thesis examines four series of novels drawing on the fantastic impulse. Frank Herbert’s Dune Chronicles, Kim Stanley Robinson’s Mars Trilogy and Science in the Capital, and George R.R. Martin’s A Song of Ice and Fire. The first two are on opposite ends of both of Hume’s axes, and imagine the challenges of constructing Earth-like ecosystems on other planets, asking questions about the sustainability of such a project as well as the possibilities of transforming society. The latter two engage with rapid climate change, Robinson’s looking at contemporary climate change and Martin’s engaging with historical climate change. They interrogate the impact of the climate on human and more- than-human life, and reveal the tension between comforting didactic revisions of human- environment interactions and framework-disturbing alternate ways of relating to the environment. This tension is where the fantastic is powerful, allowing alternate visions to pierce sceptical readers’ defences.
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- Date Issued: 2016
The impact of inflation on financial development in South Africa
- Authors: Muzvanya, Kudzai Fungai
- Date: 2016
- Subjects: Economic development Monetary policy Consumer price indexes
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10353/13045 , vital:39440
- Description: Growing theoretical and empirical studies have predicted different influences that inflation has on financial development in different economies. This dissertation observes the impact South Africa’s inflation has on financial development over the period between 1990 and 2012. Monetary policy framework in South Africa has, to a greater extent, assisted in monitoring the movement of the consumer price index. Although inflation does affect financial sector performance, the study also looked into other variables that have an effect like private credit, money supply and gross domestic product. To test for stationarity to avoid spurious regression, the ADF test and the PP test were used. To determine the long- and short-run relationship, the Johansen Maximum Likelihood test and VECM models were used. Results of the study indicated that money supply and inflation have a negative effect on financial development. In addition, apart from money supply and inflation the findings revealed that private credit and gross domestic product play a significant part in financial sector performance. The study recommends that the South African Reserve Bank should keep the inflation rate within its target range (3-6percent). This would ensure price stability and restore investor confidence in the financial sector, which then improves financial sector development.
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- Date Issued: 2016
The impact of monetary policy announcement on financial markets in South Africa
- Authors: Chipfunde, Memory
- Date: 2016
- Subjects: Johannesburg Stock Exchange Monetary policy Money market
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10353/12193 , vital:39195
- Description: Monetary policy announcements are among the major decisions that affect the economy as a whole. The purpose of this study was to analyze the impact of monetary policy announcements on equity markets in South Africa during 2014-2015 financial years. That financial period is a unique year for analyzing the impact of monetary announcements on stock returns because the Reserve Bank Governor was changed in the last quarter of 2014. Moreover, interest rates were changed in four monetary policy announcements over the course of two years. This provides a good opportunity to investigate how monetary policy announcements can affect financial markets. The study used an event study methodology whereby a 15-day event window is used as well as a 45-day estimation window. Around the event window, abnormal returns were calculated using the market model and capital asset pricing model (CAPM) was used to calculate expected returns. The results are mixed; (both significant and insignificant) impact of monetary policy announcements on JSE stock returns. Of the 12 interest rates announcements, only four seemed to be significant. It was observed that of the four significant results, three of them were because of a hike in interest rates. The results show an asymmetric response by the market to interest rate changes. The results also suggest that the market anticipated the relative volatility arising from the change of the minister of the reserve bank governor. Following the appointment of the new Central Bank‟s governor in the last quarter of 2014, the first interest rate announcement seemed to have been anticipated by the public thereby rendering it insignificant. Inorder to improve the strength of the results in future, it is important that that there should be the absence of signalling effect in the market. It is recommended that the markets are efficient and the announcements should not be highly anticipated by the public.
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- Date Issued: 2016
The relationship between household debt and consumption spending in South Africa (1994 - 2013)
- Authors: Nkala, Patience
- Date: 2016
- Subjects: Finance, Personal Financial services industry Consumption (Economics)
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10353/14022 , vital:39798
- Description: Consumption has been and remains the main contributor to gross domestic product (GDP) growth in South Africa. Household debt on the other side has remained high over the years. This study examined the relationship between household debt and consumption spending, for the period between 1994 and 2013. The Johansen cointegration technique and the Vector error correction model (VECM) were utilised to test the long run and short run relationships between the variables. The Granger causality test was also employed to test the direction of causality between the variables. Results from this study have revealed that a relationship exists between household debt and consumption spending in South Africa and they have also showed that this relationship flows from household debt to consumption spending. The implications of these results are that consumption spending may be increased through other measures rather than through increasing debt. The study therefore recommends that policy makers avail more investment opportunities for households and to also create employment in a bid to increase the income of households which can then be used to increase household consumption rather than the use of debt.
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- Date Issued: 2016