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- Volume 1, Issue 2, 1998
South African Journal of Economic and Management Sciences - Volume 1, Issue 2, 1998
Volumes & issues
Volume 1, Issue 2, 1998
Author E.A.J. GeorgeSource: South African Journal of Economic and Management Sciences 1, pp 192 –203 (1998)More Less
Gerhard de Kock Memonal Lecture. University of Pretoria in co-operation with the South African Reserve Bank, Pretoria, delivered on 10 February 1998. Highlights a conversation between the governor of the Bank of England and Gerhard de Kock on monetary policies in Great Britain. Discusses financial stability, as well as global financial stability.
Author J. Townsend, R.F. & Van ZylSource: South African Journal of Economic and Management Sciences 1, pp 204 –218 (1998)More Less
This paper identifies the stages of growth in the South African economy with particular reference to agriculture. Simple a-matrix causality tests are used to determine the direction of causality between the gross sectoral products of the economy and the gross agricultural product. The percentage share of the agricultural industry in the South African economy is relatively small and continues to decline as the economy grows. However, there has been a greater integration of agriculture within the economy during the 1990s as a result of the liberalisation of many aspects of the economy. Agriculture may have played a passive role in the economy, but has provided foreign exchange revenue from net exports to facilitate growth in other sectors of the economy. In a more decontrolled environment, the agricultural sector will become increasingly susceptible to the changes in the macro economy, particularly the exchange rate.
Source: South African Journal of Economic and Management Sciences 1, pp 219 –233 (1998)More Less
Respect for the environment, concerns about population, and the drive toward an efficient and equitable resource allocation are important elements in a relevant and ethical study of economics. Serious problems arise, however, whenever attempts at social control are masked as environmental science and population economics. This paper suggests that economic progress, democracy, and the empowerment of women, better address global problems than do draconian measures.
Author C. Boshoff, A.B. & HooleSource: South African Journal of Economic and Management Sciences 1, pp 234 –253 (1998)More Less
Non-portability of constructs is seen as a potential problem in international research. Studying attitudes as an approach to understanding entrepreneurs is seen as potentially profitable in order to understand members of this entrepreneurs. The construct validity of the Entrepreneurial Attitude Orientation Scale (as adapted) when used on a South African sample is psychometrically examined by means of Exploratory and Confirmatory Factor Analysis. It is found that the factor structure differs from that established on a North American sample. Portability of constructs embodied in measuring instruments seems to be a significant problem when research is contemplated on an international scale.
Source: South African Journal of Economic and Management Sciences 1, pp 254 –267 (1998)More Less
This article aims to clarify the meaning of the multifaceted term central bank independence. Such independence cannot be understood in an absolute sense, because the elected government in a democratic society remains the highest authority in respect of economic policy-making too. Nevertheless, central banks globally are currently endowed with strong relative independence. This may be separated into two broad categories, namely formal) and informal independence. Political and economic independence are identified as elements of the former, and their various subcategories are expounded below. Informal independence is then highlighted as the more important component of independence, of which personalities, professionalism and public support are crucial. However, an ideal combination of the determinants of independence is hard to find.
Author D. FourieSource: South African Journal of Economic and Management Sciences 1, pp 268 –283 (1998)More Less
The challenges with which municipalities are currently faced, include the fulfilment of the expectations of many new communities to whom they must render services, while they must simultaneously improve the quality of existing services and eliminate backlogs. The sources from which local authorities generate their revenue at present do not appear to be adequate for the increased need for funds. This paper provides an overview of the issues that have led to the current state of municipal finances and the factors that influence the revenue and expenditure of municipalities. In the light of the lack of sources of income for municipalities, particular attention is given to issues which could have an effect on the improvement of administration in municipalities.
Author M.L. TruuSource: South African Journal of Economic and Management Sciences 1, pp 284 –305 (1998)More Less
In 1994 South Africa was politically transformed from an oligarchy into a democracy. How has this momentous change affected the framework of economic policy? This paper approaches the question via the virulent unemployment that is South Africa's most serious economic problem today. The apparent answer gives great cause for concern: South Africa's policy-makers seem about to leave the real world of political economy to enter the illusory world of virtual economics instead.
Author Y. JordaanSource: South African Journal of Economic and Management Sciences 1, pp 306 –321 (1998)More Less
This article argues that social and technological events in South Africa are leading to the development of the direct marketing industry. The article reviews various social and technological aspects as well as the influence that government intervention has on the direct marketing industry, especially in terms of legislation regarding privacy. The role of the South African Post Office is put under the spotlight since the direct marketing industry is very reliant on the Post Office. The opportunities presented by the information age are discussed and future growth areas highlighted. Although this paper mainly concentrates on direct marketing, it also tries to explain the potential role of direct marketing in an economic system approach, as a driving force of economic progress in developing countries.
Author Marolee Beaumont SmithSource: South African Journal of Economic and Management Sciences 1, pp 322 –330 (1998)More Less
This paper reports research findings concerning the sector effect on working capital measures in South African industrial firms. Thirteen working capital measures were computed for each of the 135 participating firms over 10 years. The appropriate nonparametric statistical procedure, the Kruskal-Wallis test, was applied to the data to test the null hypothesis of no sector effect. The test inferred that there was a significant sector effect for 10 of the 13 working capital measures. However, when regulating for an overall 5 percent level of significance, less than half the tested measures registered a significant sector effect. These findings suggest that inter-industry differences in working capital measures in South Africa might not be as significant as claimed in previous local and international research findings.
Author A.B. Hoole, C. & BoshoffSource: South African Journal of Economic and Management Sciences 1, pp 331 –347 (1998)More Less
Job involvement is an important construct from both the individual and organisational perspective and has therefore received considerable attention from researchers over the last three decades. Numerous definitions of job involvement exist and it is still not clear of what job involvement is and how it should be viewed, despite the multitudes of studies investigating job involvement. Under these circumstances, the focus of the paper is on a review of job involvement, its conceptualisation and measurement. The literature is reviewed, main streams of thought are identified and recommendations for research are stated.