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- Volume 2, Issue 2, 1999
South African Journal of Economic and Management Sciences - Volume 2, Issue 2, 1999
Volumes & issues
Volume 2, Issue 2, 1999
Author A. CrockettSource: South African Journal of Economic and Management Sciences 2, pp 176 –187 (1999)More Less
Gerhard de Kock Memorial Lecture, Pretoria. 23 March 1999. Makes recommendations on how to restore and maintain international financial stability. Stresses the importance of strengthening the global financial system through identifying its present sources of weakness in market functioning, and correcting them.
Origins of economic instability: real, financial or both? : part II : an appraisal of Minsky's financial instability hypothesisAuthor J.S. HartSource: South African Journal of Economic and Management Sciences 2, pp 188 –206 (1999)More Less
Source: South African Journal of Economic and Management Sciences 2, pp 207 –221 (1999)More Less
This paper explains fraud from an economic point of view, using traditional economic tools and reasoning. It is shown how a supply-of-fraud function can be defined and estimated for individuals, and subsequently aggregated to derive crime rates for societies. Another approach is to explain the behaviour of fraudsters as rent-seekers, a la mode Gary Becker, and the problem of fraud may be seen as a case of market failure too. The paper also discusses some effects of fraud on society, and gives an empirical comparison between countries.
Author Johan OberholsterSource: South African Journal of Economic and Management Sciences 2, pp 222 –239 (1999)More Less
South Africa is currently going through major changes in political, social and other arenas. It is therefore appropriate to consider the effect of these developments on financial reporting in a changing environment. This paper explores the origins of the current South African accounting system, given its status as a developing country, and endeavours to show that financial reporting needs to be amended to reflect the changing face of the South Africa's social fabric, its status as a developing country, as well as the emergence of new users of financial statements. Certain recommendations are made to address these issues.
Author Stefano MainardiSource: South African Journal of Economic and Management Sciences 2, pp 240 –257 (1999)More Less
With successful exploration of deposits often lagging behind mineral extraction, and the international price of gold showing no signs of recovery, mining companies are under pressure to reassess their strategies. The decision whether or not to close a mining activity is the outcome of a process of adapting expectations to a changing economic and geological environment. Part of the literature emphasizes the role of the mineral price and operating costs. However, the extent, pace and intertemporal allocation of metal recovery is in practice determined by a complex interaction of both these with other factors. Following a review of theoretical interpretations, and a reformulation of associated hypotheses, binary-response models are applied to a sample of gold mines in mainly three major southern hemisphere producers (Australia, South Africa and Chile).
The evaluation of client service provided by the human resource division of a national service organisationAuthor N. Brand, H.E. & JoubertSource: South African Journal of Economic and Management Sciences 2, pp 258 –268 (1999)More Less
The aim of this study is to evaluate the quality of internal client service of the human resource division of a national service organisation. Two studies were in fact conducted, one involving 388 clients of the relevant division, and the other 99 human resource practitioners in the same division. Separate questionnaires were completed in the two samples. Results show that communication with clients, service provision and quality and competency of the human resource personnel are important problems to be addressed by management. The implementation of an achievement acknowledgement system, the re-evaluation of the divisional structure and functioning, and upgrading service provision skills could also assist the division in improving its client service competency.
Source: South African Journal of Economic and Management Sciences 2, pp 269 –291 (1999)More Less
This paper empirically investigates the direction of causality between export and productivity growth in 22 South African manufacturing industries. Data spanning the period 1972 to 1993 are used. Standard Granger-causality tests are complemented by cointegration analyses and the estimation of a theoretically derived regression model. Bearing in mind methodology difficulties caused by inadequate data, little evidence of a statistically significant relationship between export growth and productivity growth is found. Only in case of the chemicals and wood processing sectors were statistically significant evidence found that export expansion could cause an increase in productivity. Domestic demand expansion was found to be a possibly more significant determinant of productivity increases.
Author W.Duncan ReekieSource: South African Journal of Economic and Management Sciences 2, pp 292 –307 (1999)More Less
De Beers Central Selling Organisation is a co-operative marketing agreement its objective is price stabilisation not collusive monopoly gain. Collusive agreements do not last. Nevertheless the CSO has persisted. Cartels can persist if government helps and this may have occurred up to 1950. Today only two (complementary) explanations remain. The ""box"" and ""sight' system is the least-cost method of organising a distribution channel given bargaining and uncertainty and it stabilises prices for a product whose demand depend on a Veblenian mystique. Recent competition law does not allow for the transaction cost and demand analyses which explain this co-operative marketing agreement as non-collusive.
Author Eui-Gak HwangSource: South African Journal of Economic and Management Sciences 2, pp 308 –314 (1999)More Less
This note attempts to measure the effects of aggregate government expenditure on GNP growth and monetary policy in a growing economy. A version of the standard St Louis model is used for empirical estimation. Related effects were also estimated by means of South Korean data for the period 1970-1988. The findings, inter alia, support the position that government bondholding is regarded as an asset, not a future tax burden.
Source: South African Journal of Economic and Management Sciences 2, pp 315 –334 (1999)More Less
A review of the relevant literature indicates that a study of the relationships between Type A behaviour and personal as well as organizational variables is necessary. Information was gathered from 375 professionals on a number of demographic and personality variables, as well as Type A behaviour. MANOVA, Product-moment correlation, and Multiple regression were used to determine the relationships between Type A behaviour and other variables. Total Type A scores could be predicted reasonably well by means of personality variables. Demographic variables were less closely related to Type A scores.