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Working Papers

publication

Understanding the behaviour of house prices and household income per capita in South Africa: Application of the asymmetric autoregressive distributed lag model

Anthanasius Fomum Tita and Pieter Opperman
Homeownership by the lower and middle-income households is crucial to create wealth, particularly for South Africa with high levels of economic and wealth inequality. However, scholarship has paid little attention to how income affects the affordable housing market segment despite its systemic...
Mar 2021
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Impact of technological progress on carbon emissions in different country income groups

Chris Belmert Milindi, Roula Inglesi-Lotz
This study examines the complex relationship between carbon emissions and technological progress in a sample of 60 countries, divided into four categories based on their per capita income between the periods of 1989-2018. For robustness purposes and due to the broad definition of technology, we use...
Mar 2021
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Reigniting Economic Growth: Lessons from three centuries of data

Roy Havemann & Edward Kerby
We estimate that since 1701, South Africa has experienced 163 years of per capita growth of more than 1 per cent a year. These expansions include 55 years of sustained per capita GDP growth of more than 3 per cent a year – windfall periods that were related to the discovery of diamonds and gold,...
Feb 2021
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Financial development and income inequality: a nonlinear econometric analysis of 21 African countries, 1994-2015

Lindokuhle Talent Zungu and Lorraine Greyling
A panel data analysis of financial inequality was conducted using the PSTR model to determine the threshold level at which excessive financial development worsens inequality. The results reveal evidence of a nonlinear effect between financial development and income inequality where the optimal...
Feb 2021
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Health Inequality and the 1918 Influenza in South Africa

Johan Fourie and Jonathan Jayes
The 1918 influenza – the Spanish flu – killed an estimated 6% of South Africans. Not all were equally affected. Mortality rates were particularly high in districts with a large share of black and coloured residents. To investigate why this happened, we transcribed 39,482 death certificates from the...
Feb 2021
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Taxpayer responsiveness to taxation: Evidence from bunching at kink points of the South African income tax schedule

Neryvia Pillay
I apply the bunching methodology to South African administrative tax data over the period from 2011 to 2017 to investigate the responsiveness of individual taxpayers to changes in marginal personal income tax rates. I find significant evidence of bunching among the self-employed but no evidence of...
Feb 2021
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The Effect of Colonial and Pre-Colonial Institutions on Contemporary Education in Africa

Leone Walters, Carolyn Chisadza and Matthew Clance
This paper argues that contrary to previous findings, present-day education outcomes in Africa cannot be independently attributed to colonial or pre-colonial ethnic institutions. We propose that it is instead the complementarity or contention between colonial and precolonial institutions that result...
Jan 2021
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The transmission of monetary policy via the banks’ balance sheet - does bank size matter?

Tumisang Loate and Nicola Viegi
We study the credit channel of monetary policy in South Africa between 2002 and 2019 using banks’ balance sheets. We show that there is a significant heterogeneity within the banking sector in both the loan and deposit sides of the banks’ balance sheets. In response to a contractionary monetary...
Jan 2021
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Phases of Higher Education, Tuition Grants, and Equity-Efficency Tradeoff

Yoseph Y. Getachew
We study how taxes and alternative higher education subsidies affect equity-efficiency trade-off for countries at different phases of higher education development. We find a scholarship program is the most efficient higher-education-subsidy program at all stages of higher education development due...
Jan 2021
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