A case for institutional investigations in economic research methods with reference to South Africa's agricultural sector
- Authors: Mbatha, Cyril
- Date: 2008
- Subjects: Economic development -- South Africa Economic development -- Research -- Methodology Agriculture -- South Africa Agriculture -- Economic aspects -- South Africa Agricultural productivity -- South Africa Agriculture -- Research -- South Africa South Africa -- Economic conditions
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:972 , http://hdl.handle.net/10962/d1002706
- Description: Economic development remains elusive for many world economies, but especially those of African countries. The current global inequalities in terms of GNP per capita and human living standards between developed and developing nations have ensured that the challenges of food insecurities are only some of the many negative experiences of underdevelopment in the African continent. Hence, delivery pressures are increasing on policy makers and researchers to provide tangible and timely economic solutions to the resilient state of underdevelopment. In the policy fights against the challenges posed by a lack of development in South Africa, the agricultural sector has in the past and continues in the present to play a central role. Such is the case because the majority of citizens rely on agricultural production activities for their livelihoods. For instance, even though the sector only contributed four percent towards the national Gross Domestic Product in 2006, in the Eastern Cape Province, more than seventy percent of the total population resided in rural areas. Moreover, in 2004 more than sixty percent of the national formal and informal employment levels were found in the sector. These economic indicators do not only reinforce the assertions that high levels of geographical and sectoral inequalities exist in the country’s economy, but they also illustrate the importance of the agricultural sector in public policy attempts, which are aimed at achieving food security alongside long-term developmental objectives. Some economists, especially the proponents of institutionalism, have argued that most of the recommendations to public policy interventions from mainstream economic research endeavours are not adequately helpful. The recommendations generally lack well considered and socially effective ideas, mainly because there remains some level of ignorance about the impacts that institutions have on economic and social systems. Some argue that this ignorance is reflected in (flawed) hedonistic and rationalist assumptions made about economic actors and in the methodological thinking of many research designs and economic analyses. The misuse of formal tools and statistical methods, for example, are some of the important factors, which have led to failures of the discipline of economics to provide effective policy solutions to problems of underdevelopment and poverty, especially in poor country environments. The thesis, having taken account of the majority of criticisms levelled against the classical and new-classical economic schools of thought, argues that the discipline as a whole lacks a paradigmatic integration of institutional and new-classical economic perspectives to offer appropriate guidelines for a methodology aimed at achieving socially responsive research outputs. The lack of this integration has resulted in a skewed selection of methods by economists, which are employed in research without a supportive and in-depth understanding of institutional and social factors. To support the thesis, a more effective and integrated framework for economic research is developed and presented with case study illustrations in a cumulative manner. The 20th century history of agricultural policies in South Africa, the agricultural and institutional case studies from the Eastern Cape Province alongside reviews of other agricultural studies are all used in presenting a case for rigorous institutional investigations in general economic research. These are also used in developing the proposed integrated framework, which aims to give guidance in developing research methods, which are more socially responsive. Having shown the usefulness of the proposed research framework, the thesis recommends that public policy interventions (at national and local levels) should aim to eliminate all types of institutions which have high associated transactional costs. The interventions should also encourage the emergence and growth of the types of institutions, which present the lowest costs to initiatives of economic development. In the primary case studies from the Eastern Cape Province, the insecurity of land tenure and the various local initiatives of business ventures are highlighted as two examples of the types of institutions, which respectively present high and low transactional costs to local initiatives of agricultural and economic development.
- Full Text:
- Date Issued: 2008
- Authors: Mbatha, Cyril
- Date: 2008
- Subjects: Economic development -- South Africa Economic development -- Research -- Methodology Agriculture -- South Africa Agriculture -- Economic aspects -- South Africa Agricultural productivity -- South Africa Agriculture -- Research -- South Africa South Africa -- Economic conditions
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:972 , http://hdl.handle.net/10962/d1002706
- Description: Economic development remains elusive for many world economies, but especially those of African countries. The current global inequalities in terms of GNP per capita and human living standards between developed and developing nations have ensured that the challenges of food insecurities are only some of the many negative experiences of underdevelopment in the African continent. Hence, delivery pressures are increasing on policy makers and researchers to provide tangible and timely economic solutions to the resilient state of underdevelopment. In the policy fights against the challenges posed by a lack of development in South Africa, the agricultural sector has in the past and continues in the present to play a central role. Such is the case because the majority of citizens rely on agricultural production activities for their livelihoods. For instance, even though the sector only contributed four percent towards the national Gross Domestic Product in 2006, in the Eastern Cape Province, more than seventy percent of the total population resided in rural areas. Moreover, in 2004 more than sixty percent of the national formal and informal employment levels were found in the sector. These economic indicators do not only reinforce the assertions that high levels of geographical and sectoral inequalities exist in the country’s economy, but they also illustrate the importance of the agricultural sector in public policy attempts, which are aimed at achieving food security alongside long-term developmental objectives. Some economists, especially the proponents of institutionalism, have argued that most of the recommendations to public policy interventions from mainstream economic research endeavours are not adequately helpful. The recommendations generally lack well considered and socially effective ideas, mainly because there remains some level of ignorance about the impacts that institutions have on economic and social systems. Some argue that this ignorance is reflected in (flawed) hedonistic and rationalist assumptions made about economic actors and in the methodological thinking of many research designs and economic analyses. The misuse of formal tools and statistical methods, for example, are some of the important factors, which have led to failures of the discipline of economics to provide effective policy solutions to problems of underdevelopment and poverty, especially in poor country environments. The thesis, having taken account of the majority of criticisms levelled against the classical and new-classical economic schools of thought, argues that the discipline as a whole lacks a paradigmatic integration of institutional and new-classical economic perspectives to offer appropriate guidelines for a methodology aimed at achieving socially responsive research outputs. The lack of this integration has resulted in a skewed selection of methods by economists, which are employed in research without a supportive and in-depth understanding of institutional and social factors. To support the thesis, a more effective and integrated framework for economic research is developed and presented with case study illustrations in a cumulative manner. The 20th century history of agricultural policies in South Africa, the agricultural and institutional case studies from the Eastern Cape Province alongside reviews of other agricultural studies are all used in presenting a case for rigorous institutional investigations in general economic research. These are also used in developing the proposed integrated framework, which aims to give guidance in developing research methods, which are more socially responsive. Having shown the usefulness of the proposed research framework, the thesis recommends that public policy interventions (at national and local levels) should aim to eliminate all types of institutions which have high associated transactional costs. The interventions should also encourage the emergence and growth of the types of institutions, which present the lowest costs to initiatives of economic development. In the primary case studies from the Eastern Cape Province, the insecurity of land tenure and the various local initiatives of business ventures are highlighted as two examples of the types of institutions, which respectively present high and low transactional costs to local initiatives of agricultural and economic development.
- Full Text:
- Date Issued: 2008
An analysis of the basic needs approach in its application to regional economic development with specific reference to Ciske
- Authors: Keeton, Gavin Rodney
- Date: 1984
- Subjects: Basic needs -- South Africa -- Ciskei Ciskei (South Africa) -- Economic conditions Ciskei (South Africa) -- Social conditions
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1037 , http://hdl.handle.net/10962/d1004566
- Description: In Chapter 7, it was argued that improved satisfaction of basic needs could in principle lead to increased labour productivity and, via a comulative process, to increased output and income levels. Higher incomes could in turn mean further improved satisfaction of basic needs, greater labour productivity and even greater output and income levels. Thus the satisfaction of basic needs could be seen as a means towards the end of improved living standards and the reduction of poverty, and hence an instrument of development policy. From the analysis of basic needs in Ciskei, it is apparent that government expenditure has been such that the "core" basic needs have evidently been catered for, at least to some extent, for some time. Yet, there has been nothing like a concerted strategy, and expenditure on basic needs was the result of ad hoc measures, rather than a conscious strategy or development policy as such. Basic needs were therefore seen simply as ends in themselves, rather than as means to the end of self-sustained economic development. In the case of Ciskei, more information about the satisfaction of basic needs, especially health, and water supply and sanitation, is required at the present stage. Such information should not only be seen in quantitative terms (as "inputs"), but also be evaluated qualitatively (as "outputs"). In other words, basic needs should be viewed functionally as thresholds to the goal of self-sustained economic development. This applies particularly to educatfon, where the total supply may be misleading, more significant measures being quality, access and actual consumption. Data for health, and water supply and sanitation, are not readily available, and again should reflect access and usage as well as availability. Nutritional data should not only reveal the extent and nature of poor nutrition (malnutrition) but also its causes, such as, inadequate expenditure on food on account of low income levels, or inappropriate nutritional patterns of consumption. Data on shelter should take into account the appropriateness of standards and types of shelter, rather than simply the number of houses as such. At the same time, the extent to which basic needs are complementary should be investigated; e.g. the effect the improved satisfaction of education would have on shelter, shelter on health, etc. The stronger such complementarities, the lower total government expenditure on basic needs would have to be. Similarly, if expenditure on basic needs is inappropriate or ill-directed, a revision of standards and redirection of resources may be necessary. In the case of Ciskei, it may well be that total expenditure on basic needs may not be inadequate as such at the present stage, but rather that co-ordination of existing expenditure is required to yield a purposive development policy. A powerful case for the suitability of a Basic Needs strategy for Ciskei may be suggested by the intermediate nature of economic development within its borders. To the extent that some basic needs are already satisfied, at least to some degree and some more than others, certain preconditions for economic development can be said to already exist. Yet it cannot be claimed that Ciskei has reached the "take-off" stage into self-sustained economic growth in the Rostovian sense. Nevertheless, a deliberately co-ordinated Basic Needs strategy may well move Ciskei away from the danger of slipping back into the so-called "Low-Level Equilibrium Trap." In other words, a more scientifically designed, co-ordinated and deliberately applied strategy, whereby basic needs become the means towards self-sustained economic growth, should at least be able to establish the "preconditions for take-off" necessary for sustained economic development.
- Full Text:
- Date Issued: 1984
- Authors: Keeton, Gavin Rodney
- Date: 1984
- Subjects: Basic needs -- South Africa -- Ciskei Ciskei (South Africa) -- Economic conditions Ciskei (South Africa) -- Social conditions
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1037 , http://hdl.handle.net/10962/d1004566
- Description: In Chapter 7, it was argued that improved satisfaction of basic needs could in principle lead to increased labour productivity and, via a comulative process, to increased output and income levels. Higher incomes could in turn mean further improved satisfaction of basic needs, greater labour productivity and even greater output and income levels. Thus the satisfaction of basic needs could be seen as a means towards the end of improved living standards and the reduction of poverty, and hence an instrument of development policy. From the analysis of basic needs in Ciskei, it is apparent that government expenditure has been such that the "core" basic needs have evidently been catered for, at least to some extent, for some time. Yet, there has been nothing like a concerted strategy, and expenditure on basic needs was the result of ad hoc measures, rather than a conscious strategy or development policy as such. Basic needs were therefore seen simply as ends in themselves, rather than as means to the end of self-sustained economic development. In the case of Ciskei, more information about the satisfaction of basic needs, especially health, and water supply and sanitation, is required at the present stage. Such information should not only be seen in quantitative terms (as "inputs"), but also be evaluated qualitatively (as "outputs"). In other words, basic needs should be viewed functionally as thresholds to the goal of self-sustained economic development. This applies particularly to educatfon, where the total supply may be misleading, more significant measures being quality, access and actual consumption. Data for health, and water supply and sanitation, are not readily available, and again should reflect access and usage as well as availability. Nutritional data should not only reveal the extent and nature of poor nutrition (malnutrition) but also its causes, such as, inadequate expenditure on food on account of low income levels, or inappropriate nutritional patterns of consumption. Data on shelter should take into account the appropriateness of standards and types of shelter, rather than simply the number of houses as such. At the same time, the extent to which basic needs are complementary should be investigated; e.g. the effect the improved satisfaction of education would have on shelter, shelter on health, etc. The stronger such complementarities, the lower total government expenditure on basic needs would have to be. Similarly, if expenditure on basic needs is inappropriate or ill-directed, a revision of standards and redirection of resources may be necessary. In the case of Ciskei, it may well be that total expenditure on basic needs may not be inadequate as such at the present stage, but rather that co-ordination of existing expenditure is required to yield a purposive development policy. A powerful case for the suitability of a Basic Needs strategy for Ciskei may be suggested by the intermediate nature of economic development within its borders. To the extent that some basic needs are already satisfied, at least to some degree and some more than others, certain preconditions for economic development can be said to already exist. Yet it cannot be claimed that Ciskei has reached the "take-off" stage into self-sustained economic growth in the Rostovian sense. Nevertheless, a deliberately co-ordinated Basic Needs strategy may well move Ciskei away from the danger of slipping back into the so-called "Low-Level Equilibrium Trap." In other words, a more scientifically designed, co-ordinated and deliberately applied strategy, whereby basic needs become the means towards self-sustained economic growth, should at least be able to establish the "preconditions for take-off" necessary for sustained economic development.
- Full Text:
- Date Issued: 1984
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
An economic analysis of government expenditure allocations to black schooling in South Africa
- Authors: Hosking, Stephen Gerald
- Date: 1991
- Subjects: Black people -- Education -- Economic aspects -- South Africa , Education -- Economic aspects -- South Africa , Education and state -- South Africa , Education -- Finance -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:925 , http://hdl.handle.net/10962/d1001451
- Description: In this thesis an assessment is made of the contribution of economic theory to the debate on government expenditure allocations to schooling in developing countries. Publicly provided Black schooling in South Africa is taken as the case study and viewed in the light of historical perspectives, as well as human capital, rent-seeking, welfare, liberal and contractarian theory. From an historical perspective, the willingness of Blacks to enrol at schools under National Party control, despite the poor quality of such schooling and lack of labour market incentives for them to do so, is paradoxical. It leads to the conclusion that under National Party administration the private benefit of Black schooling exceeded the private cost; a situation which is argued to have been influenced by rent-seeking. The propositions that government expenditure on Black schooling is a profitable social investment, and that rent-seeking has influenced the allocations of government expenditure on Black and White education are then investigated. Empirical support is found for both propositions, but it is based on the use of controversial methods and measures. The provision of education by the state can be justified on many economic grounds; the most popular being that this improves welfare by bringing about a better distribution of income or by redressing market failure. However, as there are major problems with this approach, it is concluded that neoclassical welfare theory fails to provide a persuasive justification for current levels of government expenditure on Black schooling. The provision of Black schooling by the state can also be justified in terms of liberal objectives. Classical and reform liberalism and their respective conclusions are examined. Marxist views on the role played by the state in the provision of education are also considered, but not found to be appropriate. Two contractarian assessments of the government's role in the provision of Black schooling are also provided in this thesis. They are based on the works of John Rawls (1971 and 1974) and James Buchanan (1986). The approach taken by James Buchanan is argued to be more appropriate to South African circumstances than Rawls's, and it is in the context of the former that problems with respect to public decisions on education and possible solutions to them are discussed. The conclusion of the thesis is that economic theory offers only a limited explanation for government expenditure allocations to Black education in South Africa
- Full Text:
- Date Issued: 1991
- Authors: Hosking, Stephen Gerald
- Date: 1991
- Subjects: Black people -- Education -- Economic aspects -- South Africa , Education -- Economic aspects -- South Africa , Education and state -- South Africa , Education -- Finance -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:925 , http://hdl.handle.net/10962/d1001451
- Description: In this thesis an assessment is made of the contribution of economic theory to the debate on government expenditure allocations to schooling in developing countries. Publicly provided Black schooling in South Africa is taken as the case study and viewed in the light of historical perspectives, as well as human capital, rent-seeking, welfare, liberal and contractarian theory. From an historical perspective, the willingness of Blacks to enrol at schools under National Party control, despite the poor quality of such schooling and lack of labour market incentives for them to do so, is paradoxical. It leads to the conclusion that under National Party administration the private benefit of Black schooling exceeded the private cost; a situation which is argued to have been influenced by rent-seeking. The propositions that government expenditure on Black schooling is a profitable social investment, and that rent-seeking has influenced the allocations of government expenditure on Black and White education are then investigated. Empirical support is found for both propositions, but it is based on the use of controversial methods and measures. The provision of education by the state can be justified on many economic grounds; the most popular being that this improves welfare by bringing about a better distribution of income or by redressing market failure. However, as there are major problems with this approach, it is concluded that neoclassical welfare theory fails to provide a persuasive justification for current levels of government expenditure on Black schooling. The provision of Black schooling by the state can also be justified in terms of liberal objectives. Classical and reform liberalism and their respective conclusions are examined. Marxist views on the role played by the state in the provision of education are also considered, but not found to be appropriate. Two contractarian assessments of the government's role in the provision of Black schooling are also provided in this thesis. They are based on the works of John Rawls (1971 and 1974) and James Buchanan (1986). The approach taken by James Buchanan is argued to be more appropriate to South African circumstances than Rawls's, and it is in the context of the former that problems with respect to public decisions on education and possible solutions to them are discussed. The conclusion of the thesis is that economic theory offers only a limited explanation for government expenditure allocations to Black education in South Africa
- Full Text:
- Date Issued: 1991
An institutional analysis of community and home based care and support for HIV/AIDS sufferers in rural households in Malawi
- Authors: Munthali, Spy Mbiriyawaka
- Date: 2009
- Subjects: AIDS (Disease) -- Patients -- Care -- Malawi HIV-positive persons -- Care -- Malawi HIV infections -- Malawi Home-based family services -- Malawi Community health services -- Malawi Community development -- Malawi Economic development -- Malawi
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:985 , http://hdl.handle.net/10962/d1002719
- Description: Standard economic models often emphasize inputs, outputs and an examination of the structures in order to conduct an economic performance evaluation. This study applies the Institutional and Development Framework (IAD) in the broader context of New Institutional Economics (NIE) in order to examine the transaction costs of delivering Community and Home Based Care and Support (CHBC) to HIV/AIDS sufferers. For purposes of unveiling the empirical reality guiding decision making processes in the CHBC service delivery, comparative qualitative research techniques of normative variable and concept formation have been adopted to draw out the relative institutional influences from the HIV/AIDS national response partnerships. The study identifies the conflict between the predominantly standardized and more rigid formal management techniques adopted by key members of the national response and the informal cultural techniques familiar to the rural communities, and a lack of motivational incentives in the CHBC structures as the key factors against CHBC capacities to draw external funding for service delivery. CHBCs are also weakened by incoherent governance structures at the district level for facilitation of funding and information flow exacerbating the community vulnerability. Rationalization of the institutional arrangements and a clarification of roles from district to community levels, a shift of focus to facilitation of informal techniques and an integration of performance enhancing incentives are the critical policy insights envisaged to spur CHBCs to work better.
- Full Text:
- Date Issued: 2009
- Authors: Munthali, Spy Mbiriyawaka
- Date: 2009
- Subjects: AIDS (Disease) -- Patients -- Care -- Malawi HIV-positive persons -- Care -- Malawi HIV infections -- Malawi Home-based family services -- Malawi Community health services -- Malawi Community development -- Malawi Economic development -- Malawi
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:985 , http://hdl.handle.net/10962/d1002719
- Description: Standard economic models often emphasize inputs, outputs and an examination of the structures in order to conduct an economic performance evaluation. This study applies the Institutional and Development Framework (IAD) in the broader context of New Institutional Economics (NIE) in order to examine the transaction costs of delivering Community and Home Based Care and Support (CHBC) to HIV/AIDS sufferers. For purposes of unveiling the empirical reality guiding decision making processes in the CHBC service delivery, comparative qualitative research techniques of normative variable and concept formation have been adopted to draw out the relative institutional influences from the HIV/AIDS national response partnerships. The study identifies the conflict between the predominantly standardized and more rigid formal management techniques adopted by key members of the national response and the informal cultural techniques familiar to the rural communities, and a lack of motivational incentives in the CHBC structures as the key factors against CHBC capacities to draw external funding for service delivery. CHBCs are also weakened by incoherent governance structures at the district level for facilitation of funding and information flow exacerbating the community vulnerability. Rationalization of the institutional arrangements and a clarification of roles from district to community levels, a shift of focus to facilitation of informal techniques and an integration of performance enhancing incentives are the critical policy insights envisaged to spur CHBCs to work better.
- Full Text:
- Date Issued: 2009
Government policy and industrial location in South Africa
- Authors: Bell, Robert Trevor
- Date: 1968
- Subjects: South Africa -- Industries -- Location Industrial relations -- Government policy -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1079 , http://hdl.handle.net/10962/d1009507
- Description: Governments, naturally, pursue social and political as well as economic objectives. The degree to which economic and non-economic objectives harmonise with one another without government interference, however, obviously varies a good deal according to time and place. For instance in the nineteenth century, the priorities of British governments made possible a high degree of individual freedom in the economic sphere. This century, however, as Robbins suggests, has seen a great extension of state activity in the economic sphere, for both economic and non-economic reasons. This tendency, then, is not peculiar to South Africa, but the border industries policy, largely because of its ideological associations and the degree of intervention which it seems to imply, is a particularly controversial example. Chapter 1 para 2.
- Full Text:
- Date Issued: 1968
- Authors: Bell, Robert Trevor
- Date: 1968
- Subjects: South Africa -- Industries -- Location Industrial relations -- Government policy -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1079 , http://hdl.handle.net/10962/d1009507
- Description: Governments, naturally, pursue social and political as well as economic objectives. The degree to which economic and non-economic objectives harmonise with one another without government interference, however, obviously varies a good deal according to time and place. For instance in the nineteenth century, the priorities of British governments made possible a high degree of individual freedom in the economic sphere. This century, however, as Robbins suggests, has seen a great extension of state activity in the economic sphere, for both economic and non-economic reasons. This tendency, then, is not peculiar to South Africa, but the border industries policy, largely because of its ideological associations and the degree of intervention which it seems to imply, is a particularly controversial example. Chapter 1 para 2.
- Full Text:
- Date Issued: 1968
International joint ventures and firm value: an empirical study of South African partner firms
- Mangwengwende, Tadiwanashe Mukudzeyi
- Authors: Mangwengwende, Tadiwanashe Mukudzeyi
- Date: 2013
- Subjects: Joint ventures Joint ventures -- South Africa Business enterprises -- Valuation International business enterprises
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1033 , http://hdl.handle.net/10962/d1004174
- Description: This study investigates international equity joint ventures (IJVs) and South African partner firm value creation at formation. In addition, it tests whether four contentious formation characteristics, namely, the geographical location of the IJV partner, the level of economic development in the IJV partner’s home country, the level of equity held by the South African firm and the industry of the South African firm, can explain when South African IJVs are value enhancing and when they are value diminishing. IJVs are a popular business mode and an important channel for infrastructure and skills investment in developing countries. However, despite their popularity and potential social benefits, these IJVs are predominantly created by the decisions of private firms to collaborate with foreign firms and governments. Consequently the preservation and development of the IJV investment channel is dependent on the encouragement of private firm IJV participation. It is at uncovering potential tools to encourage IJV participation by South African firms that IJV firm value creation becomes important because it stands as a motivator for South African firms’ involvement in IJVs. Existing literature on IJVs and partner firm value has presented conflicting evidence with support for the views that they are value enhancing, value diminishing or of no immediate consequence to their partners’ firm value. Consequently, previous research offers limited firm value support for IJVs. For South African firms considering joint ventures and national policy makers determined to promote IJVs there is a need for an investigation of South African partner IJV firm value effects. Moreover, it is also necessary to test potential explanatory variables that may help to explain when the IJVs are value enhancing and when they are not as this will inform IJV contract negotiations and how limited national government resources are used to promote IJVs. In order to assess firm value creation for South African firms this study performed event studies on IJV formation announcements from 1998 to 2011 using daily share returns from the Johannesburg Securities Exchange taking care to incorporate recent developments in the event study methodology. The study found that while the market responds to IJV announcements, its responses do not, on average, reflect that IJVs are firm value enhancing for their South African partners at formation. This stands in contrast to considerable empirical literature and IJV firm value creation theory. In addition, factoring in formation characteristics, argued to potentially help explain cases of value creation and destruction from IJVs, provided limited explanation for positive and negative wealth effectsfor South African firms entering IJVs. This result has important value for IJV participants, national economic policy makers and IJV researchers. For IJV participants and national policy makers, the results caution unfettered entry/support for IJVs and challenge the role of equity distribution in determining the value of the IJV to its partner firms. For IJV researchers, the results present new evidence questioning IJV firm value creation at formation and provide a potential explanation for the conflict in previous IJV research. The study makes four key contributions to the existing knowledge of IJV firm value creation. Firstly, it assesses IJV wealth effects for the hitherto untested South African IJVs. Secondly, in doing so it adds a new data set (South African IJVs) to the current IJV literature. Thirdly, in reviewing the literature on IJV firm value creation the study presents a disaggregated model of IJV firm value creation from which to develop IJV research and potentially solve the persistent conflict in empirical results on IJV partner wealth effects. Finally, it informs future South African IJV agreements by uncovering factors that influence and do not influence partner wealth effects for South African firms.
- Full Text:
- Date Issued: 2013
- Authors: Mangwengwende, Tadiwanashe Mukudzeyi
- Date: 2013
- Subjects: Joint ventures Joint ventures -- South Africa Business enterprises -- Valuation International business enterprises
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1033 , http://hdl.handle.net/10962/d1004174
- Description: This study investigates international equity joint ventures (IJVs) and South African partner firm value creation at formation. In addition, it tests whether four contentious formation characteristics, namely, the geographical location of the IJV partner, the level of economic development in the IJV partner’s home country, the level of equity held by the South African firm and the industry of the South African firm, can explain when South African IJVs are value enhancing and when they are value diminishing. IJVs are a popular business mode and an important channel for infrastructure and skills investment in developing countries. However, despite their popularity and potential social benefits, these IJVs are predominantly created by the decisions of private firms to collaborate with foreign firms and governments. Consequently the preservation and development of the IJV investment channel is dependent on the encouragement of private firm IJV participation. It is at uncovering potential tools to encourage IJV participation by South African firms that IJV firm value creation becomes important because it stands as a motivator for South African firms’ involvement in IJVs. Existing literature on IJVs and partner firm value has presented conflicting evidence with support for the views that they are value enhancing, value diminishing or of no immediate consequence to their partners’ firm value. Consequently, previous research offers limited firm value support for IJVs. For South African firms considering joint ventures and national policy makers determined to promote IJVs there is a need for an investigation of South African partner IJV firm value effects. Moreover, it is also necessary to test potential explanatory variables that may help to explain when the IJVs are value enhancing and when they are not as this will inform IJV contract negotiations and how limited national government resources are used to promote IJVs. In order to assess firm value creation for South African firms this study performed event studies on IJV formation announcements from 1998 to 2011 using daily share returns from the Johannesburg Securities Exchange taking care to incorporate recent developments in the event study methodology. The study found that while the market responds to IJV announcements, its responses do not, on average, reflect that IJVs are firm value enhancing for their South African partners at formation. This stands in contrast to considerable empirical literature and IJV firm value creation theory. In addition, factoring in formation characteristics, argued to potentially help explain cases of value creation and destruction from IJVs, provided limited explanation for positive and negative wealth effectsfor South African firms entering IJVs. This result has important value for IJV participants, national economic policy makers and IJV researchers. For IJV participants and national policy makers, the results caution unfettered entry/support for IJVs and challenge the role of equity distribution in determining the value of the IJV to its partner firms. For IJV researchers, the results present new evidence questioning IJV firm value creation at formation and provide a potential explanation for the conflict in previous IJV research. The study makes four key contributions to the existing knowledge of IJV firm value creation. Firstly, it assesses IJV wealth effects for the hitherto untested South African IJVs. Secondly, in doing so it adds a new data set (South African IJVs) to the current IJV literature. Thirdly, in reviewing the literature on IJV firm value creation the study presents a disaggregated model of IJV firm value creation from which to develop IJV research and potentially solve the persistent conflict in empirical results on IJV partner wealth effects. Finally, it informs future South African IJV agreements by uncovering factors that influence and do not influence partner wealth effects for South African firms.
- Full Text:
- Date Issued: 2013
Price discovery, price behaviour, and efficiency of selected grain commodities traded on the agricultural products division of the JSE securities exchange
- Authors: Viljoen, Christo
- Date: 2004
- Subjects: Johannesburg Stock Exchange Stock exchanges -- South Africa International economic relations Primary commodities -- South Africa Grain trade -- South Africa Financial futures -- South Africa Price regulation -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:952 , http://hdl.handle.net/10962/d1002686
- Description: Agricultural commodity derivatives were first introduced in South Africa in 1996 after the deregulation of the former marketing system. In the context of its proposed functions, namely price discovery and risk management, the question arose as to whether the futures market developed over time to performed its role efficiently. According to the Efficient Markets Hypothesis (EMH) an efficient market is one that accurately incorporates all information available at any point in time. The purpose of the research was to address the issue of price discovery efficiency, firstly, focusing on the weak-form methodology. Secondly, considering the behaviour of futures prices over time, the study addressed the concern of anomalies in daily returns – phenomena contradictory to the EMH by implication. Thirdly, as a means of defining the sources of inefficiency, the role of scheduled public information and its impact on futures prices was examined. Therefore, the primary objective of the research was to investigate and identify the main components of agricultural futures market inefficiency within the unique price formation structure of South African grain markets. The assessment of this problem is important in terms of evaluating the growth and development of the futures market for different grain commodities to date. The Exchange needs to review rules and regulations on a frequent basis in order to ensure proper functioning at all times especially in the case of a relatively new and fast growing market. The study contributed to the knowledge of understanding the price adjustment process and its implications for market efficiency in the context of the three grain markets considered. The weak-form efficiency was tested using a co-integration based model. Analysing daily spot and futures prices of white maize, yellow maize, and wheat, results indicated that all three markets were efficient and unbiased. Non-parametric tests revealed the significant presence of day-of-the-week and turn-of-the-month effects in the futures returns of the three commodities. Further non-parametric analyses suggested a high degree of uncertainty in futures returns around scheduled agricultural and macroeconomic information release dates also contributing significantly to the identified anomalies. It was concluded that (1) the markets’ ability to anticipate the contents of future information to be released, (2) the current skewed size distribution of broking members, (3) the significant role of the R/$ exchange rate in the price formation process of South African grains and, therefore, (4) the relationship to and influence of the broader economy enhanced the return effects (anomalies) creating opportunity for profitable arbitrage. This conclusion was mainly attributed to South Africa’s status as a price-taker in the world grain complex as well as the relatively short existence of the local agricultural futures markets.
- Full Text:
- Date Issued: 2004
- Authors: Viljoen, Christo
- Date: 2004
- Subjects: Johannesburg Stock Exchange Stock exchanges -- South Africa International economic relations Primary commodities -- South Africa Grain trade -- South Africa Financial futures -- South Africa Price regulation -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:952 , http://hdl.handle.net/10962/d1002686
- Description: Agricultural commodity derivatives were first introduced in South Africa in 1996 after the deregulation of the former marketing system. In the context of its proposed functions, namely price discovery and risk management, the question arose as to whether the futures market developed over time to performed its role efficiently. According to the Efficient Markets Hypothesis (EMH) an efficient market is one that accurately incorporates all information available at any point in time. The purpose of the research was to address the issue of price discovery efficiency, firstly, focusing on the weak-form methodology. Secondly, considering the behaviour of futures prices over time, the study addressed the concern of anomalies in daily returns – phenomena contradictory to the EMH by implication. Thirdly, as a means of defining the sources of inefficiency, the role of scheduled public information and its impact on futures prices was examined. Therefore, the primary objective of the research was to investigate and identify the main components of agricultural futures market inefficiency within the unique price formation structure of South African grain markets. The assessment of this problem is important in terms of evaluating the growth and development of the futures market for different grain commodities to date. The Exchange needs to review rules and regulations on a frequent basis in order to ensure proper functioning at all times especially in the case of a relatively new and fast growing market. The study contributed to the knowledge of understanding the price adjustment process and its implications for market efficiency in the context of the three grain markets considered. The weak-form efficiency was tested using a co-integration based model. Analysing daily spot and futures prices of white maize, yellow maize, and wheat, results indicated that all three markets were efficient and unbiased. Non-parametric tests revealed the significant presence of day-of-the-week and turn-of-the-month effects in the futures returns of the three commodities. Further non-parametric analyses suggested a high degree of uncertainty in futures returns around scheduled agricultural and macroeconomic information release dates also contributing significantly to the identified anomalies. It was concluded that (1) the markets’ ability to anticipate the contents of future information to be released, (2) the current skewed size distribution of broking members, (3) the significant role of the R/$ exchange rate in the price formation process of South African grains and, therefore, (4) the relationship to and influence of the broader economy enhanced the return effects (anomalies) creating opportunity for profitable arbitrage. This conclusion was mainly attributed to South Africa’s status as a price-taker in the world grain complex as well as the relatively short existence of the local agricultural futures markets.
- Full Text:
- Date Issued: 2004
South African farm wages and working conditions: with special reference to the Albany district, 1957 to 1977
- Authors: Antrobus, Geoffrey Gordon
- Date: 1984
- Subjects: Agricultural wages -- South Africa -- Eastern Cape , Agricultural laborers -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1028 , http://hdl.handle.net/10962/d1003722
- Description: The focus of the study is the wages and working conditions of farm labourers in commercial agriculture. After an outline examination of the broad trends in employment and wages in the agricultural industry as a whole, the emphasis falls on a micro-study of employment practices in the Eastern Cape magisterial district of Albany. The results of a survey of farmers was used to determine the level of wages, including payments in kind, the value of housing, cropping and grazing rights. It was found that cash wages made up only 25% of the total remuneration of R684 per annum, while purchased and farm produced rations made up a further 40% of the total. A survey conducted in the Albany district two decades previously was used to compare the real earnings in 1957 and 1977. Although real cash wages and rations increased over the twenty year period the restriction of cropping and grazing rights had the effect of keeping real earnings static. In the light of the improvement of other working conditions, such as the reduction in working hours, however, it is concluded that some increase in real wages did occur . It is evident that there are no clear-cut recipes for successful farm labour management and no unequivocal statements should be made about the most visible element, namely cash wages.
- Full Text:
- Date Issued: 1984
- Authors: Antrobus, Geoffrey Gordon
- Date: 1984
- Subjects: Agricultural wages -- South Africa -- Eastern Cape , Agricultural laborers -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1028 , http://hdl.handle.net/10962/d1003722
- Description: The focus of the study is the wages and working conditions of farm labourers in commercial agriculture. After an outline examination of the broad trends in employment and wages in the agricultural industry as a whole, the emphasis falls on a micro-study of employment practices in the Eastern Cape magisterial district of Albany. The results of a survey of farmers was used to determine the level of wages, including payments in kind, the value of housing, cropping and grazing rights. It was found that cash wages made up only 25% of the total remuneration of R684 per annum, while purchased and farm produced rations made up a further 40% of the total. A survey conducted in the Albany district two decades previously was used to compare the real earnings in 1957 and 1977. Although real cash wages and rations increased over the twenty year period the restriction of cropping and grazing rights had the effect of keeping real earnings static. In the light of the improvement of other working conditions, such as the reduction in working hours, however, it is concluded that some increase in real wages did occur . It is evident that there are no clear-cut recipes for successful farm labour management and no unequivocal statements should be made about the most visible element, namely cash wages.
- Full Text:
- Date Issued: 1984
The preservation and standardisation of South African hides and skins
- Authors: Kritzinger, Carl Cronje
- Date: 1946
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:21052 , http://hdl.handle.net/10962/6157
- Description: During the past fifty years the problems of the leather industry have been tackled from various aspects by scientific research workers all over the world, and "works control" today forms one of .the important foundation stones of efficiently run tanneries and footwear factories. The raw materials of the tanning industry, hides and skins, constitute the largest proportion of the cost of production, and it is ' only natural that the improvement of these valuable raw materials should be given primary attention by any leather scientist. Until only a few years ago, however, the South African hide and skin industry was at a serious ·disadvantage in that it had to base recommendations for improved production methods almost exclusively on overseas experience and practice. The importance of the differences existing between South Africa and European or American countries with regard to climate, slaughtering, hide and skin production in general, transport and sale, however, necessitates a different approach to our specific problems. The overseas hide and skin industry has had, since the beginning of this century, the support and particularly the guidance of scientific research; but it was not until 1935, when, through the support of the Hide and Skin advisory Board, Prof. W. F. Barker founded the original Tanning, Hides and Skins Research Department at Rhodes University College, Grahamstown, that science actively entered the field of hide and skin production in this country. Much of the work done had of course to be based on the results obtained by overseas research institutions, and the adaptation of such results to suit our own problems for some time formed a considerable part of the investigations undertaken. This thesis embodies the results of work undertaken by the writer since 1943 on specific problems of the South African hide and skin industry. Much of the work has already received publication through the Circulars and Journals of this Institute, but it is embodied here again in order to maintain the continuity. The attitude throughout has been to evolve methods of production suited to our own conditions, and the adoption of the recommendations contained in this thesis should lead to improvement in the quality of our hides and skins. Much still remains to be done, and it is the sincere hope of the writer that this work will stimulate and form the basis for subsequent investigations. For that reason more or less detailed descriptions are given of all experiments conducted, and the theory of curing in its relation to tanning is briefly discussed . The literature in each of the four Parts has been attached at the end of that Part to facilitate reference work. At the same time, however, the writer kept in mind the requirements of the trade itself, therefore much of the work is discussed in popular terms. It is hoped that the correct balance between the two extremes has been arrived at.
- Full Text:
- Date Issued: 1946
- Authors: Kritzinger, Carl Cronje
- Date: 1946
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:21052 , http://hdl.handle.net/10962/6157
- Description: During the past fifty years the problems of the leather industry have been tackled from various aspects by scientific research workers all over the world, and "works control" today forms one of .the important foundation stones of efficiently run tanneries and footwear factories. The raw materials of the tanning industry, hides and skins, constitute the largest proportion of the cost of production, and it is ' only natural that the improvement of these valuable raw materials should be given primary attention by any leather scientist. Until only a few years ago, however, the South African hide and skin industry was at a serious ·disadvantage in that it had to base recommendations for improved production methods almost exclusively on overseas experience and practice. The importance of the differences existing between South Africa and European or American countries with regard to climate, slaughtering, hide and skin production in general, transport and sale, however, necessitates a different approach to our specific problems. The overseas hide and skin industry has had, since the beginning of this century, the support and particularly the guidance of scientific research; but it was not until 1935, when, through the support of the Hide and Skin advisory Board, Prof. W. F. Barker founded the original Tanning, Hides and Skins Research Department at Rhodes University College, Grahamstown, that science actively entered the field of hide and skin production in this country. Much of the work done had of course to be based on the results obtained by overseas research institutions, and the adaptation of such results to suit our own problems for some time formed a considerable part of the investigations undertaken. This thesis embodies the results of work undertaken by the writer since 1943 on specific problems of the South African hide and skin industry. Much of the work has already received publication through the Circulars and Journals of this Institute, but it is embodied here again in order to maintain the continuity. The attitude throughout has been to evolve methods of production suited to our own conditions, and the adoption of the recommendations contained in this thesis should lead to improvement in the quality of our hides and skins. Much still remains to be done, and it is the sincere hope of the writer that this work will stimulate and form the basis for subsequent investigations. For that reason more or less detailed descriptions are given of all experiments conducted, and the theory of curing in its relation to tanning is briefly discussed . The literature in each of the four Parts has been attached at the end of that Part to facilitate reference work. At the same time, however, the writer kept in mind the requirements of the trade itself, therefore much of the work is discussed in popular terms. It is hoped that the correct balance between the two extremes has been arrived at.
- Full Text:
- Date Issued: 1946
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 struggle for national independence in its international setting : its economic and political background and its manifestation in the Fourth Committee of the United Nations General Assembly
- Authors: Lumsden, Geoffrey S
- Date: 1957
- Subjects: United Nations. General Assembly Self-determination, National Sovereignty Economics -- Political aspects Economic policy
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1091 , http://hdl.handle.net/10962/d1012790
- Description: The decade following the close of the Second World War has been dominated throughout by the clash of political power of the United States and the Soviet Union. Their wartime alliance has crumbled. New, antagonistic alliances have come into existence. The so-called 'EastWest' split, polar in its effect, has forced the admission that prospects of stable peace depend on how successfully bridges can be made to span the gulf. This over-riding and pervading reality has blinded us to the importance of another struggle, which is everywhere mounting in force and intensity and which history may well record as a dominant theme of the twentieth century -- the world-wide struggle for independence. In some cases it has produced revolution and violence: full-scale wars have been fought in its cause in Indonesia and Indo-China; military engagements have taken place in Kenya and Tunisia; Cypriots and British garrison forces have exchanged fire; Malayans have rioted; and 'incidents' too numerous to detail have been reported from a great variety of countries where political dependence exists. Intro., p. 1.
- Full Text:
- Date Issued: 1957
- Authors: Lumsden, Geoffrey S
- Date: 1957
- Subjects: United Nations. General Assembly Self-determination, National Sovereignty Economics -- Political aspects Economic policy
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1091 , http://hdl.handle.net/10962/d1012790
- Description: The decade following the close of the Second World War has been dominated throughout by the clash of political power of the United States and the Soviet Union. Their wartime alliance has crumbled. New, antagonistic alliances have come into existence. The so-called 'EastWest' split, polar in its effect, has forced the admission that prospects of stable peace depend on how successfully bridges can be made to span the gulf. This over-riding and pervading reality has blinded us to the importance of another struggle, which is everywhere mounting in force and intensity and which history may well record as a dominant theme of the twentieth century -- the world-wide struggle for independence. In some cases it has produced revolution and violence: full-scale wars have been fought in its cause in Indonesia and Indo-China; military engagements have taken place in Kenya and Tunisia; Cypriots and British garrison forces have exchanged fire; Malayans have rioted; and 'incidents' too numerous to detail have been reported from a great variety of countries where political dependence exists. Intro., p. 1.
- Full Text:
- Date Issued: 1957
The theory of the firm and pricing behaviour in South African manufacturing industry
- Authors: Dollery, Brian
- Date: 1983
- Subjects: Corporations Pricing Pricing -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1046 , http://hdl.handle.net/10962/d1006141
- Full Text:
- Date Issued: 1983
- Authors: Dollery, Brian
- Date: 1983
- Subjects: Corporations Pricing Pricing -- South Africa
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1046 , http://hdl.handle.net/10962/d1006141
- Full Text:
- Date Issued: 1983
The transport system of the Border : a study of transport and communications in the Border region of the Cape Province with special reference to the effect of transport on the economic and commercial development of the region
- Authors: Smith, Hugh Hamilton
- Date: 1959
- Subjects: Transportation -- South Africa -- Eastern Cape , Harbors -- South Africa -- East London , Railroads -- South Africa -- Eastern Cape , Transportation, Automotive -- South Africa -- Eastern Cape , Communication and traffic -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1122 , http://hdl.handle.net/10962/d1018721
- Description: Transport undoubtedly occupies a most important place in the economic and commercial life of all countries. In this respect South Africa is no exception, and very briefly, the principal economic functions of transport are enumerated below. 1. Transport establishes communication between consumers and the producers of goods or services. 2. Transport facilitates the movement of persons between the place where they live and the place where they work - usually this is a daily procedure, but in South Africa it also entails the movement of large numbers of Natives from the Native Reserves to work for some months at a time either in the gold mines or in the several urban areas of the Union. 3. Transport makes geographical specialization possible, for agricultural or mineral resources will only be exploited, or specialized industries established, in a particular area, if the commodities produced can be transported to other parts of a country, or the world; and other capital and consumer goods brought to the producers living in the area of specialized production. 4. Transport faciitates industrial production because, of raw materials which come from many sources. Furthermore, transport enables the finished products of industry to be distributed to the markets in which they are sold. In all these cases, the efficiency of transport has to be measured not only in terms of its cost, but also in terms of its efficiency, which includes, inter alia, the time taken, the frequency of services, the safety of goods and passengers while in transit and the provision of various special services, such as the provision by railway undertakings of private siding facilities. This thesis will be divided into five parts, the first dealing with the technical and commercial development of the Buffalo Harbour. It has been decided to deal with the Harbour first because, not only has it been the focal point of the transport system of the Border Region since the latter part of the nineteenth century, but it has dominated the economic and commercial development of East London, as well as that of the Border Region as a whole. The second part deals with the evolution of the railway system from the 166 mile long East London and Queenstown Railway, to the present 1,110 miles of the Cape Eastern System. This historical chapter is followed by an analysis of the traffic of the Cape Eastern System. Part Three deals with the theory, practice, and economic consequences, of railway rating policy. Part Four is a detailed analysis of the goods traffic forwarded from, and received at East London in the period from 1st April, 1953 to 31st March, 1956. Part Five deals with roads and road transport. Finally, certain conclusions are offered, based on the significant points revealed by the investigation on which this thesis is based. In this thesis the theory of transport will not be dealt with in detail for it is essentially a factual account of the development of the transport system of the Border Region and an analysis of the present situation. It has unfortunately not been possible to make in this thesis a study of railway finance or railway economics with regard to the Cape Eastern System, for the data upon which to base such an investigation are not available for the Cape Eastern System in isolation. No attempt will be made to assess either the technical or the operating efficiency of the railway system for not only would this require more data than are available, but also a technical knowledge not possessed by the writer.
- Full Text:
- Date Issued: 1959
- Authors: Smith, Hugh Hamilton
- Date: 1959
- Subjects: Transportation -- South Africa -- Eastern Cape , Harbors -- South Africa -- East London , Railroads -- South Africa -- Eastern Cape , Transportation, Automotive -- South Africa -- Eastern Cape , Communication and traffic -- South Africa -- Eastern Cape
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1122 , http://hdl.handle.net/10962/d1018721
- Description: Transport undoubtedly occupies a most important place in the economic and commercial life of all countries. In this respect South Africa is no exception, and very briefly, the principal economic functions of transport are enumerated below. 1. Transport establishes communication between consumers and the producers of goods or services. 2. Transport facilitates the movement of persons between the place where they live and the place where they work - usually this is a daily procedure, but in South Africa it also entails the movement of large numbers of Natives from the Native Reserves to work for some months at a time either in the gold mines or in the several urban areas of the Union. 3. Transport makes geographical specialization possible, for agricultural or mineral resources will only be exploited, or specialized industries established, in a particular area, if the commodities produced can be transported to other parts of a country, or the world; and other capital and consumer goods brought to the producers living in the area of specialized production. 4. Transport faciitates industrial production because, of raw materials which come from many sources. Furthermore, transport enables the finished products of industry to be distributed to the markets in which they are sold. In all these cases, the efficiency of transport has to be measured not only in terms of its cost, but also in terms of its efficiency, which includes, inter alia, the time taken, the frequency of services, the safety of goods and passengers while in transit and the provision of various special services, such as the provision by railway undertakings of private siding facilities. This thesis will be divided into five parts, the first dealing with the technical and commercial development of the Buffalo Harbour. It has been decided to deal with the Harbour first because, not only has it been the focal point of the transport system of the Border Region since the latter part of the nineteenth century, but it has dominated the economic and commercial development of East London, as well as that of the Border Region as a whole. The second part deals with the evolution of the railway system from the 166 mile long East London and Queenstown Railway, to the present 1,110 miles of the Cape Eastern System. This historical chapter is followed by an analysis of the traffic of the Cape Eastern System. Part Three deals with the theory, practice, and economic consequences, of railway rating policy. Part Four is a detailed analysis of the goods traffic forwarded from, and received at East London in the period from 1st April, 1953 to 31st March, 1956. Part Five deals with roads and road transport. Finally, certain conclusions are offered, based on the significant points revealed by the investigation on which this thesis is based. In this thesis the theory of transport will not be dealt with in detail for it is essentially a factual account of the development of the transport system of the Border Region and an analysis of the present situation. It has unfortunately not been possible to make in this thesis a study of railway finance or railway economics with regard to the Cape Eastern System, for the data upon which to base such an investigation are not available for the Cape Eastern System in isolation. No attempt will be made to assess either the technical or the operating efficiency of the railway system for not only would this require more data than are available, but also a technical knowledge not possessed by the writer.
- Full Text:
- Date Issued: 1959
Theories of economic underdevelopment: a general equilibrium analysis
- Authors: Black, Philip Andrew
- Date: 1982
- Subjects: Equilibrium (Economics) -- Mathematical models Economic development -- Mathematical models Developing countries -- Economic conditions -- Mathematical models
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1049 , http://hdl.handle.net/10962/d1006235
- Description: This thesis is mainly concerned with the question whether 'conventional' economic theory - especially the neoclassical theory of general equilibrium - is sufficiently flexible to accommodate the particular conditions prevailing in the developing countries. It is argued that most existing theories of economic underdevelopment adopt an interpretative approach which essentially amounts to relaxing some of the chief assumptions of the neoclassical theory. When applied to the two-sector model of general equilibrium, these theories generally yield predictions which are vastly different from those associated with the neoclassical assumptions of perfect competition, unlimited factor substitutability and unrestricted resource mobility. Several theories seek to explain the development problem in terms of the specific production processes used in poor countries. Myrdal's (1957) theory of cumulative causation, for example, effectively introduces increasing returns to scale in at least one sector or region of the economy; in contrast to the neoclassical theory, he thus nvisages a cumulative process of regional divergence in the output level per worker. Similarly, Richard Eckaus's (1955) explanation of the "factor-proportions problem" is based on the assumption of limited factor substitutability. This enables him to establish the existence of a so-called "unemployment equiIibrium", thus implying that developing countries may be faced with a conflict between the objective of maximizing social -welfare on the one hand, and that of full employment on the other. More recently, Leibenstein (1960) has shown that this trade-off may be complicated by the introduction of capital-biased technological inventions and innovations. The solution to the factor-proportions problem consists in the adoption of more appropriate, usually labour-biased technologies, increased capital formation and a reduction in the rate of population growth. Much of the postwar literature on economic development has focused on the imperfectly competitive structure of the product and the factor markets in developing countries. Myint (1954) has highlighted the role played by monopolies and ligopolies during the "opening-up" process of economic development. Likewise, both Lewis's (1954) dualist theory and Todaro's (1969; 1971) model of rural-urban migration attempt to explain the unemployment problem in terms of various factor price distortions. In an international context, Prebisch (1950; 1959) and Singer (1950) have again shown how prevailing differences in the structure of markets between developed and developing countries may turn the terms of trade against the latter; using a two-sector model, Bhagwati (1958) has demonstrated that such a deterioration in the terms of trade could bring about a net decrease in the welfare level of the countries concerned. Generally, the policy measures relevant to the "market imperfections" problem include the creation of job opportunities in the rural (rather than urban) sector, the encouragement of informal-sector enterprises,and the imposition of factor taxes and subsidies as a means of counteracting the adverse effect of factor price distortions on employment. A more recent approach to the unemployment problem is the plea by the International Labor Office (1970; 1972) for a redistribution of income within the developing countries. In terms of the two-sector model, such a policy may well succeed in eliminating labour unemployment caused by fixed factor proportions and/or factor price distortions. It should be realized, though, that a redistribution of income may lower the aggregate savings level, and hence also the growth rates of capital and labour employment in the economy. On the whole, it would seem that these theories do indeed adopt a modified version of the neoclassical theory in providing a fairly comprehensive explanation of the economic problems of labour unemployment, low incomes and inequality.
- Full Text:
- Date Issued: 1982
- Authors: Black, Philip Andrew
- Date: 1982
- Subjects: Equilibrium (Economics) -- Mathematical models Economic development -- Mathematical models Developing countries -- Economic conditions -- Mathematical models
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1049 , http://hdl.handle.net/10962/d1006235
- Description: This thesis is mainly concerned with the question whether 'conventional' economic theory - especially the neoclassical theory of general equilibrium - is sufficiently flexible to accommodate the particular conditions prevailing in the developing countries. It is argued that most existing theories of economic underdevelopment adopt an interpretative approach which essentially amounts to relaxing some of the chief assumptions of the neoclassical theory. When applied to the two-sector model of general equilibrium, these theories generally yield predictions which are vastly different from those associated with the neoclassical assumptions of perfect competition, unlimited factor substitutability and unrestricted resource mobility. Several theories seek to explain the development problem in terms of the specific production processes used in poor countries. Myrdal's (1957) theory of cumulative causation, for example, effectively introduces increasing returns to scale in at least one sector or region of the economy; in contrast to the neoclassical theory, he thus nvisages a cumulative process of regional divergence in the output level per worker. Similarly, Richard Eckaus's (1955) explanation of the "factor-proportions problem" is based on the assumption of limited factor substitutability. This enables him to establish the existence of a so-called "unemployment equiIibrium", thus implying that developing countries may be faced with a conflict between the objective of maximizing social -welfare on the one hand, and that of full employment on the other. More recently, Leibenstein (1960) has shown that this trade-off may be complicated by the introduction of capital-biased technological inventions and innovations. The solution to the factor-proportions problem consists in the adoption of more appropriate, usually labour-biased technologies, increased capital formation and a reduction in the rate of population growth. Much of the postwar literature on economic development has focused on the imperfectly competitive structure of the product and the factor markets in developing countries. Myint (1954) has highlighted the role played by monopolies and ligopolies during the "opening-up" process of economic development. Likewise, both Lewis's (1954) dualist theory and Todaro's (1969; 1971) model of rural-urban migration attempt to explain the unemployment problem in terms of various factor price distortions. In an international context, Prebisch (1950; 1959) and Singer (1950) have again shown how prevailing differences in the structure of markets between developed and developing countries may turn the terms of trade against the latter; using a two-sector model, Bhagwati (1958) has demonstrated that such a deterioration in the terms of trade could bring about a net decrease in the welfare level of the countries concerned. Generally, the policy measures relevant to the "market imperfections" problem include the creation of job opportunities in the rural (rather than urban) sector, the encouragement of informal-sector enterprises,and the imposition of factor taxes and subsidies as a means of counteracting the adverse effect of factor price distortions on employment. A more recent approach to the unemployment problem is the plea by the International Labor Office (1970; 1972) for a redistribution of income within the developing countries. In terms of the two-sector model, such a policy may well succeed in eliminating labour unemployment caused by fixed factor proportions and/or factor price distortions. It should be realized, though, that a redistribution of income may lower the aggregate savings level, and hence also the growth rates of capital and labour employment in the economy. On the whole, it would seem that these theories do indeed adopt a modified version of the neoclassical theory in providing a fairly comprehensive explanation of the economic problems of labour unemployment, low incomes and inequality.
- Full Text:
- Date Issued: 1982
Theories of exchange rates and the methodology of economics
- Authors: Hodge, Duncan
- Date: 1997
- Subjects: Foreign exchange rates Economics -- Methodology
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1012 , http://hdl.handle.net/10962/d1002747
- Description: This thesis is an exercise in applied methodology. Ideas in the history and philosophy of science which have proved to be influential in the methodology of economics, and in shaping economists' self-image in this regard, are selected for closer analysis and criticism. The main ideas that are addressed are those of empiricism, with emphasis on the methodological falsificationism of Karl Popper and Imre Lakatos, and Laudan's problem solving model of scientific progress . The thesis examines the relationship between empirical evidence, in the form of both econometric test results and stylized facts, and the development of theories about exchange rates and the open economy. This analysis begins with Cassel's formulation of purchasing power parity theory in 1916, through the elasticities, absorption, and Mundell-Fleming models of exchange rates and the balance of payments, up to the present day monetary and asset market models. This is done with regard to the broad methodological issues examined earlier in the thesis. Some of the main empirical and methodological difficulties in testing such theories are addressed, with particular reference to the role played by the Duhem-Quine thesis and the ceteris paribus assumption. Although some of these difficulties may be regarded as a matter of degree compared to similar problems in the natural sciences, it is argued that this difference is significant for the workability of falsification in economics . Moreover, the presence of hypotheses about expectations in many economic theories appears to be a substantive difference such that the difficulties posed by the Duhem-Quine thesis apply with much greater force in a social science like economics. The main conclusions are that neither the Popperian nor Lakatosian versions of falsification are seriously practiced in the area of exchange rate economics and that, unlike the position taken by advocates of falsification such as Mark Blaug, it would be inappropriate and misguided to do so. A tentative case is made, with some reference to the theories surveyed in this thesis, for the possibly greater relevance of Laudan' s more pragmatic problem solving model for the methodology of economics, particularly as regards his analysis and emphasis on conceptual problem solving in the progress of knowledge.
- Full Text:
- Date Issued: 1997
- Authors: Hodge, Duncan
- Date: 1997
- Subjects: Foreign exchange rates Economics -- Methodology
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1012 , http://hdl.handle.net/10962/d1002747
- Description: This thesis is an exercise in applied methodology. Ideas in the history and philosophy of science which have proved to be influential in the methodology of economics, and in shaping economists' self-image in this regard, are selected for closer analysis and criticism. The main ideas that are addressed are those of empiricism, with emphasis on the methodological falsificationism of Karl Popper and Imre Lakatos, and Laudan's problem solving model of scientific progress . The thesis examines the relationship between empirical evidence, in the form of both econometric test results and stylized facts, and the development of theories about exchange rates and the open economy. This analysis begins with Cassel's formulation of purchasing power parity theory in 1916, through the elasticities, absorption, and Mundell-Fleming models of exchange rates and the balance of payments, up to the present day monetary and asset market models. This is done with regard to the broad methodological issues examined earlier in the thesis. Some of the main empirical and methodological difficulties in testing such theories are addressed, with particular reference to the role played by the Duhem-Quine thesis and the ceteris paribus assumption. Although some of these difficulties may be regarded as a matter of degree compared to similar problems in the natural sciences, it is argued that this difference is significant for the workability of falsification in economics . Moreover, the presence of hypotheses about expectations in many economic theories appears to be a substantive difference such that the difficulties posed by the Duhem-Quine thesis apply with much greater force in a social science like economics. The main conclusions are that neither the Popperian nor Lakatosian versions of falsification are seriously practiced in the area of exchange rate economics and that, unlike the position taken by advocates of falsification such as Mark Blaug, it would be inappropriate and misguided to do so. A tentative case is made, with some reference to the theories surveyed in this thesis, for the possibly greater relevance of Laudan' s more pragmatic problem solving model for the methodology of economics, particularly as regards his analysis and emphasis on conceptual problem solving in the progress of knowledge.
- Full Text:
- Date Issued: 1997
Witwatersrand genesis: a comparative study of some early gold mining companies, 1886-1894
- Authors: Webb, Arthur (Arthur C M)
- Date: 1982
- Subjects: Gold mines and mining -- South Africa -- History Gold mines and mining -- South Africa -- Witwatersrand -- History Ferreira Gold Mining Company (Firm) Witwatersrand Gold Mining Company (Firm) Simmer and Jack Gold Mining Company (Firm) Wemmer Gold Mining Company (Firm)
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1029 , http://hdl.handle.net/10962/d1003725
- Description: Preface: For anyone standing on the ridge of the Witwatersrand on a spring day in September 1886 the sight immediately to the south represented a hive of activity and hope. Nearly a hundred years later ample evidence stretches away on both sides of the watershed to confirm the fulfilment of those early sentiments. It is, nevertheless, all too easy to ignore the struggles and failures which marked the beginnings of the world's greatest gold field in the light of its subsequent abundant success. Only when attention is turned to the individual companies formed to exploit the discovery does the true picture emerge of the lack of adequate technological and managerial knowledge amongst the early pioneers and of the financial frailty of their companies. The object of this thesis is to shed light on these beginnings by reviewing the histories of four of the earliest companies established to work the main reef. The approach adopted is to scrutinize the material available with a view to determining the motivations and actions of the managements of the various companies with regard to their economic environment, whether within or without the individual company. Clearly, the availability of information is a major determinant of the success of any such venture and this was particularly so in the case of the companies considered. With the exception of the Barlow Rand Limited holding of the H. Eckstein and Company Archives, which offers an integral coverage of that firm's dealings with the emerging industry, and which is certainly the most comprehensive source of information available to the researcher, little material relating to specific gold mining companies has survived. Under these circumstances it was necessary to rely heavily for information on the local press. These newspapers proved an invaluable source in this regard. As a mining camp with a limited capacity for generating newsworthy incidents, the newspapers of early Johannesburg found an eager readership for information about the industry which lay at the heart of the community. For their part, the managements of the various mining companies found in the pages of the local press an outlet for intelligence both true and false; the press was a useful vehicle for the publication of directors' and annual reports to meet a wider audience, but similarly it could be and was used to disseminate 'spectacular' reports calculated to influence the status of a company's stock on the local share market. As a research source the press has thus to be approached with caution but its value, if the warning is heeded, is in no way diminished. Beyond these two sources the next most valuable accumulation of data on the early industry is "The Gold Fields Collection" housed in the Cory Library for Historical Research at Rhodes University. As a collection it is far from complete and it is to be hoped that the donors will in future see fit to augment it with further material as this becomes available. It neverthess proved an invaluable source for the investigation of at least one of the companies of the study and for a general background to the industry.
- Full Text:
- Date Issued: 1982
- Authors: Webb, Arthur (Arthur C M)
- Date: 1982
- Subjects: Gold mines and mining -- South Africa -- History Gold mines and mining -- South Africa -- Witwatersrand -- History Ferreira Gold Mining Company (Firm) Witwatersrand Gold Mining Company (Firm) Simmer and Jack Gold Mining Company (Firm) Wemmer Gold Mining Company (Firm)
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: vital:1029 , http://hdl.handle.net/10962/d1003725
- Description: Preface: For anyone standing on the ridge of the Witwatersrand on a spring day in September 1886 the sight immediately to the south represented a hive of activity and hope. Nearly a hundred years later ample evidence stretches away on both sides of the watershed to confirm the fulfilment of those early sentiments. It is, nevertheless, all too easy to ignore the struggles and failures which marked the beginnings of the world's greatest gold field in the light of its subsequent abundant success. Only when attention is turned to the individual companies formed to exploit the discovery does the true picture emerge of the lack of adequate technological and managerial knowledge amongst the early pioneers and of the financial frailty of their companies. The object of this thesis is to shed light on these beginnings by reviewing the histories of four of the earliest companies established to work the main reef. The approach adopted is to scrutinize the material available with a view to determining the motivations and actions of the managements of the various companies with regard to their economic environment, whether within or without the individual company. Clearly, the availability of information is a major determinant of the success of any such venture and this was particularly so in the case of the companies considered. With the exception of the Barlow Rand Limited holding of the H. Eckstein and Company Archives, which offers an integral coverage of that firm's dealings with the emerging industry, and which is certainly the most comprehensive source of information available to the researcher, little material relating to specific gold mining companies has survived. Under these circumstances it was necessary to rely heavily for information on the local press. These newspapers proved an invaluable source in this regard. As a mining camp with a limited capacity for generating newsworthy incidents, the newspapers of early Johannesburg found an eager readership for information about the industry which lay at the heart of the community. For their part, the managements of the various mining companies found in the pages of the local press an outlet for intelligence both true and false; the press was a useful vehicle for the publication of directors' and annual reports to meet a wider audience, but similarly it could be and was used to disseminate 'spectacular' reports calculated to influence the status of a company's stock on the local share market. As a research source the press has thus to be approached with caution but its value, if the warning is heeded, is in no way diminished. Beyond these two sources the next most valuable accumulation of data on the early industry is "The Gold Fields Collection" housed in the Cory Library for Historical Research at Rhodes University. As a collection it is far from complete and it is to be hoped that the donors will in future see fit to augment it with further material as this becomes available. It neverthess proved an invaluable source for the investigation of at least one of the companies of the study and for a general background to the industry.
- Full Text:
- Date Issued: 1982
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