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Policy Briefs

Publication

Who would eat more with a food voucher programme in South Africa

Jan van Heerden
What might seem like a good idea for satisfying the hungry is likely to leave the economy in a dyspeptic state. Jan Van Heerden’s study into the relative merits of a food voucher programme (ERSA Working Paper number 110) suggests that the price distortions created by such a scheme are likely to inflate production costs, undermine economic competitiveness and slash output. This is unlikely to be a worthwhile price to pay for reducing poverty.
Apr 2009
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Publication

Inflation targeting: how the SARB is succeeding in anchoring of inflation expectations

Monique Reid
Evidence suggest that the use of inflation targeting by the South Africa Reserve Bank (SARB) has supported the anchoring of inflation expectations in South Africa. The monetary policy success is gauged by measuring the sensitivity of inflation expectations to surprise movements in macro-economic...
Aug 2009
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Publication

Higher levels of tax evasion in a corrupt economy, encourage policy making that hinders the functioning of private financial markets

Rangan Gupta and Emmanuel Ziramba
When amplified levels of corruption and reduced penalties for illegal behaviour encourage greater levels of tax evasion, the policy response will exacerbate measures that constrain the functioning of private‐sector financial markets. In the ERSA working paper “Tax evasion and financial repression:...
Feb 2009
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Publication

The private sector has a role to play in cash transfers programmes in Africa

Sheshangai Kaniki
Arguments for greater participation by the private sector in growth-boosting and poverty-reducing initiatives in Africa are intensifying with the mounting fear that the Millennium Development Goals will not be met. In "The Private Sector and Cash Transfers in Africa", (ERSA Working Paper No. 80)...
Aug 2009
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Publication

How an electricity tax will affect the South African economy

R. Seymore, P.D. Adams, M. Mabugu, J.H. van Heerden and J. Blignaut
An electricity tax imposed at the point of production in South Africa would reduce carbon dioxide emissions, albeit at the expense of a slight pullback in overall economic output, consumption and investment. According to researchers R. Seymore, P.D. Adams, M. Mabugu, J.H. van Heerden and J...
Sep 2009
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Publication

Sotuh Africa's inflation target band is appropriate - if judged against the implied welfare costs of inflation at these levels

Rangan Gupta and Josine Uwilingiye
Given the implied welfare costs of an inflation range of three to sex percent, South African's inflation target band is set at appropriate levels. In 'Measuring the welfare cost of inflation in South Afica' (ERSA Working Paper No. 68) Rangan Gupta and Josine Uwilingiye estimate the welfare cost of...
Aug 2009
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