Journal publications

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Volatility Spillovers across South African Asset Classes during Domestic and Foreign Financial Crises

Andrew S. Duncan and Alain Kabundi

This paper studies domestic volatility transmission in an emerging economy. Daily volatility spillover indices, relating to South African (SA) currencies, bonds and equities, are estimated using variance decompositions from a generalised vector autoregressive (GVAR) model (Pesaran and Shin 1998)...

Feb 2011
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Risk-return tradeoff and the behaviour of volatility on the South African stock market: Evidence from both aggregate and disaggregate data

Mandimika, N.Z. and Chinzara, Z.

The study analyses the nature and behaviour of volatility, the risk-return relationship and the long-term trend of volatility on the South African equity markets, using aggregate-level, industrial-level and sectoral-level daily data for the period 1995-2009. By employing dummy variables for the...

Nov 2010
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Analysing Alternative Policy Response to High Oil Prices, Using an Energy Integrated CGE Microsimulation Approach for South Africa

Margaret Chitiga, Ismail Fofana and Ramos Mabugu

An energy-focused integrated CGE microsimulation approach is used to assess the implications of differential government policy responses in South Africa, to increases in international oil prices. The first scenario assumes that increases in world oil and petroleum products are passed through to end...

Nov 2010
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Mobilising Tax Revenue to Finance Development: The Case for Property Taxation in Francophone Africa

Nara Monkam

In the context of a widespread focus on decentralisation in Africa, there has been an imperative to find suitable ways to maximise potential own revenue sources at all sub-national government levels. This need in particular and the need for greater domestic resource mobilisation by African states...

Nov 2010
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Foreign Direct Investment and the Internationalisation of South African Mining Companies into Africa

John Luiz and Meshal Ruplal

The paper investigates the factors influencing the internationalisation of mining firms into Africa and the strategies employed. We focus on the FDI of South African mining firms because of the dominance of this country in the extractive resources industry for over a century. A semi-structured...

Nov 2010
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Indirect Taxation and Gender Equity: Evidence from South Africa

Daniela Casale

This paper explores the equity implications of indirect or consumption taxes from a gender perspective, using detailed expenditure data for South Africa. While a growing literature on the incidence of indirect taxes investigates their impact on the income distribution in developing countries, there...

Sep 2010
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Climate Change Disaster Management: Mitigation and Adaptation in a Public Goods Framework

Reviva Hasson, Åsa Löfgren and Martine Visser

This paper explores the collective action problem as it relates to climate change and develops two models that capture the mitigation/adaptation trade-off. The first model presents climate change as a certain disaster, while the second models climate change as a stochastic event. A one-shot public...

May 2010
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Publication

The Economic Origins of Twentieth Century Decolonisation in West Africa

J.A. Agbor

This paper argues that the pattern of decolonisation in West Africa was a function of the nature of human capital transfers from the colonisers to the indigenous elites of the former colonies. Underpinning the nature of these human capital transfers is the colonial educational ideology. Where this...

Mar 2010
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Democracy, Populism and Hyperinflation(s): Some Evidence from Latin America

Manoel Bittencourt

We test for the populist view of inflation in Latin America between 1970 and 2007. The empirical results - based on the relatively novel panel time-series data and analysis - confirm the theoretical prediction that recently elected governments coming into power after periods of political...

Mar 2010
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Role of Governance in Explaining Domestic Investment in Nigeria

Olusegun Ayodele Akanbi

This study empirically examines the pattern of domestic investment that is consistent with a neoclassical supply-side model of the Nigerian economy. The estimations are carried out with time-series data from 1970 to 2006 using the Johansen estimation techniques. The results conform to the findings...

Mar 2010
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