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Working Papers

publication

Productivity estimates for South Africa from CES production functions

Daan Steenkamp
This paper provides estimates of the elasticity of substitution and total factor productivity (TFP) for South Africa. Estimates are based on constant elasticity of substitution (CES) production functions. Estimates of potential output and the output gap implied by different CES model specifications...
Jul 2019
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publication

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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publication

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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publication

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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publication

The Origin of Extractive States in Africa: The Case of the British Cape Colony, 1834-1909

Abel Gwaindepi and Johan Fourie
The majority of African states continue to be regarded as extractive states. We use the Cape Colony's public expenditure to account for the emergence of extractive states in Africa. With a sub-imperial role for Southern African colonial expansion, the Cape Colony became a template for extractive...
May 2019
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publication

Monetary policy in a model with commodity and financial market

Vo Phuong Mai Le and Ruthira Naraidoo
This paper builds a small open economy model for a net commodity exporter to consider financial frictions and monetary policies in order to investigate the main determinants of business cycles. Since we make a distinction to the access of financial markets between the commodity and non-commodity...
May 2019
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publication

Who benefits from South African Child Support Grant: The role of gender and birthweight

Adeola Oyenubi
Stunting (low height-for-age) is known to be a good proxy for a child’s wellbeing. Several studies have suggested that the South African Child Support Grant (CSG) reduces stunting in benefiting children. However, all of these studies have estimated the impact of the CSG on the mean of the height-...
May 2019
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publication

Efficiency in South African water utilities: a comparison of estimates from DEA, SFA and StoNED

Genius Murwirapachena, Jugal Mahabir, Richard Mulwa and Johane Dikgang
Climate change has brought renewed and increasing attention to the productivity and efficiency of the water sector. This has stimulated interest, which has manifested itself in the increased application of statistical tools to measure the productivity and efficiency of water utilities. Policymakers...
Apr 2019
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