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O41

One, Two, and Multisector Growth Models

Publication

Income Convergence in Southern Africa: A Nonlinear Time-Varying Coefficients Framework

Ntokozo Nzimande
This article investigated income per capita convergence in the Southern African Development Community (SADC) over the period 1980-2017 in a non-linear time-varying coefficients framework. The findings of the study suggested no overall income convergence in the SADC region, but evidence supporting the...
Apr 2021
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Publication

Redistribution, Inequality, and Efficiency with Credit Constraints

Yoseph Y. Getachew and Stephen J. Turnovsky
We develop a model that characterizes the joint determination of income distribution and macroeconomic aggregate dynamics. We identify multiple channels through which alternative public policies such as transfers, consumption and income taxes, and public investment will affect the inequality;...
Apr 2020
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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 Interdependence between the Saving Rate and Technology across Regimes: Evidence from South Africa

Kevin S. Nell and Maria M. De Mello
This paper hypothesises that the saving rate and technological progress are interdependently determined by a common exogenous source, so that an exogenous shock to the saving rate determines long-run growth transitions. In an open economy, the saving rate measures the quality of capital investment...
Mar 2017
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Publication

Social capital as an engine of growth: Multisectoral modelling and implications

Youyou Baende Bofota, Raouf Boucekkine and Alain Pholo Bala
We propose a multisector endogenous growth model incorporating social capital. Social capital only serves as an input in the production of human capital and it involves a cost in terms of the final good. We show that in contrast to existing alternative specifications, this setting assures that...
Oct 2012
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Publication

Modeling the rand-dollar future spot rates: The Kalman Filter approach

Lumengo Bonga-Bonga
A number of studies have contended that it is challenging to explain exchange rate movement with macroeconomic fundamentals. A naive model such as a random walk forecasts exchange rate movements more reliably than existing structural models. This paper confirms that it is possible to improve the...
Oct 2008
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