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Working Papers

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Efficiency of South African water utilities: a double bootstrap DEA analysis

Celiwe Samkange, Jugal Mahabir and Johane Dikgang
Although the efficiency of the water sector has been studied extensively utilising data envelopment analysis (DEA), the literature tends to use the conventional DEA model to compute efficiency scores. However, conventional DEA input/output data may contain random errors, which may result in...
Sep 2019
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Narrowing the ‘digital divide’: the role of complementarities between fixed and mobile data in South Africa

Ryan Hawthrone and Lukasz Grzybowksi
We study substitution between fixed and mobile broadband services in South Africa using survey data on 134,000 individuals between 2009 and 2014. In our discrete-choice model, individuals choose fixed or mobile and data services in a framework that allows them to be substitutes or complements. We...
Sep 2019
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The effectiveness of counter-cyclical loan-to-value regulations: generic versus sector-specific rules

Guangling Liu and Thabang Molise
This paper considers the implications of the counter-cyclical loan-to-value (CcLTV) regulation in a setting where different types of borrowers from distinct sectors of the credit market co-exist. To identify the optimal policy design, we consider two macro-prudential policy regimes, nanely generic...
Aug 2019
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Benefits of regulation vs competition where inequality is high: The case of mobile telephony in South Africa

Ryan Hawthrone and Lukasz Grzybowksi
We test for the distributional effects of regulation and entry in the mobile telecommunications sector in a highly unequal country, South Africa. Using six waves of a consumer survey of over 134,000 individuals between 2009-2014, we estimate a discrete-choice model allowing for individual-specific...
Aug 2019
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The monetary policy of the South African Reserve Bank: stance, communication and credibility

Alberto Coco, Nicola Viegi
This paper analyses the evolution of the monetary policy stance, communication and credibility of the South African Reserve Bank (SARB) since 2000, when it adopted a flexible Inflation Targeting (IT) regime to facilitate the achievement of its price stability mandate. Empirical results indicate...
Jul 2019
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Public Infrastructure Provision and Ethnic Favouritism: Evidence from South Africa

Leone Walters, Manoel Bittencourt and Carolyn Chisadza
Does ethnic favouritism in administrative governments affect public infrastructure provision? While previous literature has studied the effects of ethnic favouritism on economic growth and development determinants, there has been limited empirical evidence on ethnic favouritism in public...
Jul 2019
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Aggregate and sectoral public-private remuneration patterns in South Africa

Andreas Wörgötter and Sihle Nomdebevana
This paper investigates the aggregate and sectoral public-private remuneration pattern in South Africa from 2001:q1 to 2017:q1. Co-integration analysis confirm a stable, long-run relationship. The adjustment to the deviations from this long-run relationship is strong and significant for public-...
Jul 2019
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