This study examines the nature of the relationship which exists between mining sector production and development of the financial systems in South Africa. This is particularly important in that the mining sector is considered to be one of the major contributors to the country’s overall economic growth. South Africa is also considered to have a very well developed financial system, to the point where the dominance of one over the other is difficult to identify. Therefore offering insight into the nature of this relationship will assist policy makers in identifying the most effective policies in order to ensure that the developments within the financial systems impact appropriately on the mining sector, and ultimately on the economy. In addition to using the conventional proxies of financial system development, this study utilises the principal component analysis (PCA) to construct an index for the entire financial system. The multivariate cointegration approach as proposed by Johansen (1988) and Johansen and Juselius (1990) was then used to estimate the relationship between the development of the financial systems and the mining sector production for the period 1988-2008. The study reveals mixed results for different measures of financial system development. Those involving the banking system show that a negative relationship exists between total mining production and total credit extended to the private sector, while liquid liabilities has a positive relationship. Similarly, with the stock market system, mixed results are also obtained which reveal a negative relationship between total mining production and stock market capitalisation, while a positive relationship is found with secondary market turnover. Of all the financial system variables, only that of stock market capitalisation was found to be significant. The result with the financial development index reveals that a significant negative relationship exists between financial system development and total mining sector production. Results on the other variables controlled in the estimation show that positive and significant relationships exist between total mining production and both nominal exchange rate and political stability respectively. Increased mining production therefore takes place in periods of appreciating exchange rates, and similarly in the post-apartheid era. On the other hand, negative relationships were found for both trade openness and inflation control variables. The impulse response and variance decomposition analyses showed that total mining production explains the largest amount of shocks within itself. Overall, the study reveals that the mining sector might not have benefited much from the development in the South African financial system.

This thesis is about the relationship between local government, grassroots organisations and the organisation of power resulting from the interaction of the two. Exploring this relationship this thesis investigates whether the actions of grassroots movements can bring local government in line with their developmental role as accorded to them by the Constitution. The assumption embedded in this question is that the current balance of power at the local level exists outside of the service of the historically disadvantaged. Following on from that, the thesis explores, through different modes of analysis, theoretical and historical, the policy and constitutional framework for local government, and then it unravels the context set by the political economy of South Africa. The aim is to make a significant attempt at understanding the possible implications of the interventions grassroots movements make in the public space. The thesis does this also by looking at the strengths and weaknesses of the strategies of the UDF to makes an assessment of the possible endurance of post-apartheid grassroots movements. Since civil society ‘suffers’ from nationalist politics, with its own corporatist institutions, the thesis searches deep within or arguably 'outside of civil society', subjecting AbM and UPM to academic critique, to see how movements embedded among the poor and carrying the political instrument of anger and marginalisation, can dislodge the power of capital. More importantly, the thesis situates the post-apartheid moment within postcolonial politics; navigating through the legacy of Colonialism of a Special Type (CSP), the thesis explores the limits and opportunities at the disposal of grassroots movements. From a different perspective, the thesis is an examination of the organisation and movement of power and the spaces within which power and ideas are contested. Drawing on the political and economic engagements, dubbed the Dar Es Salaam debates, in the 1970’s and 1980’s spurred on by Issa Shivji, the late Prof Dani Wadada Nabudere and Mahmood Mandani, the conclusions of this thesis develops these engagements, essentially making a case for the continued centrality of the post-apartheid state. However, the thesis also asserts the indubitable role that both grassroots movements and civil society need to play, not necessarily in the democratisation of the state, though that goes without saying, but in taking the post-colonial state on its own terms. Consequently, the thesis puts forward the idea that issue-based mobilisation does exactly this, and in the manner that acknowledges the state’s centrality and makes paramount the self-organisation (popular assemblies) of ordinary people in public affairs. The thesis categorically concludes that the centrality of the post-apartheid state and its progressive outlook (constitutional values) is contingent on organs of popular assemblies which need to take the state on its (progressive) terms.

Monetary policy in South African is the primary means by which the authorities can influence activity in the overall economy. The South African Reserve Bank accommodates banks through repo transactions for which they charge the repo rate. The most important market in the transmission of the repo rate to the rest of the economy is the interbank market. As such, a detailed discussion of this market is given. In September 200 I the monetary authorities made certain adjustments to the repo system of accommodation, which included changing the repo rate from a floating rate to a fixed rate that would be administratively determined by the MPC. This was done to address certain weaknesses in the floating rate system. This thesis examines and compares the period before and after the adjustments to the repo system, with the aim of determining whether or not the monetary authorities achieved the goals intended from making this change. The repo rate, prime interbank rate, 3-month NCO rate and the prime lending rate are analysed using the Engle-Granger two variable approach and an ECM model to test for causality. It was found that the monetary authorities did not achieve their intended goals as the relationship between the repo rate and the interbank rate was more significant in the first period. Furthermore, the direction of causality the authorities hoped to achieve by implementing the changes were in fact already in place. As such the adjustments to the system changed the transmission mechanism from the one desired by the authorities to one that was not intended. The conclusions reached by this study show that, in terms of the objectives of the monetary authorities, the previous repo system functioned better. / KMBT_363 / Adobe Acrobat 9.54 Paper Capture Plug-in

After South Africa entered into democracy in 1994, a mediation period of change was set in motion. It was an invitation for South Africans to imagine and envision themselves anew (Gqola 2010). Slave memory; a neglected past, that was previously silenced came to the fore and is currently in the process of being renegotiated in post-apartheid South Africa. In the light of this, I believe that the study of the Cape Minstrel Carnival which has its social roots in slavery lends itself for an insightful interpretation within an art historical framework. While institutionally the memory of slavery was officially marginalized: comparatively, on the streets of Cape Town, the community preserved it in elusive ways embodied in the procession of Carnival through the city. This thesis explores the imagery of creolisation, through an analysis of the Cape Minstrel Carnival. Zimitri Erasmus (Erasmus 200:14) defines creolisation as cultural production that happens under the specific conditions of slavery. Before I decode some of the motifs embedded in the imagery of creolisation, in chapter one I provide an in depth analysis; of the contextual conditions of which the practice of carnival originated. My analysis is informed extensively by post-colonial theories on race, identity, and creolisation. The route of the procession of carnival reveals an alternative and clandestine history of the city of Cape Town which I believe deserves focus. In chapter two I discuss its site specificity in relation to key urban sites, such as the District Six Museum, the Slave Lodge Museum and the Bo-Kaap Museum. This thesis explores the use of performance as a corporeal tool to demarcate the city. In the process of this analysis, a repertoire of movement becomes salient in the construction of creolised identities. In chapter three I discuss the motif of the “coon” as the most salient image of creolisation in the parade; I trace its iconographic roots to the performance of blackface minstrelsy that originated from the slave plantations of the United States of America. By unpacking the racist iconography bound up in the initial construction of the “coon”, it becomes clear that its derogative meaning was subverted when it was appropriated as a symbol of celebration into the New Year’s parades. As a result of its complicated history, some residents deride the parade as perpetuating racial stereotypes, by portraying “coloured” people as buffoons. Class snobbery has played a big part in the criticism. Therefore the procession of “the coons” or euphemistically the minstrels represents a cultural cringe for some and a festive celebration for others and both these sentiments coexist simultaneously. The Cape Town Minstrel Carnival can be interpreted on multiple shifting levels because it takes on an ambivalent and ambiguous position as far as meaning is concerned.

Maize is the staple food for most South Africans. This implies that any damage to the maize crop will affect food security of many South Africans. Although Eastern Cape Province is not a traditionally maize producing area, smallholder farmers in the province produce it mostly for subsistence purposes and some sell the surplus on the local market or use it to secure other good through barter trading. In South Africa, insect-resistant Bt maize/yieldgard has been used commercially for approximately 10 years now. Available impact studies on Bt maize reveal that, this technology is beneficial not only to farmers but consumers of maize products as well. Welfare gains as well as positive effects for human health are realised by both groups. Due to the costs and effectiveness associated with traditional and conventional maize stem borer control methods, Bt technology has the potential to be part of the solution. This thesis has attempted to investigate the economic viability of planting Bt maize seeds under smallholder farming conditions and identify factors as well as perceptions relating to attributes of Bt maize and to analyze the relationships between those perceptions and choices regarding use of Bt technology. Data was collected from 90 households who were selected using purposive sampling through the use of the snowball method. To collect data, a questionnaire was administered through face-to-face interviews. Gross margin analysis revealed that Bt maize is a more profitable option as compared to conventional maize seeds. Furthermore, econometric analyses, through use of the binomial regression model revealed that perceptions could be used to distinguish between users and non-users of Bt maize seed in the Eastern Cape Province. Results of inferential analysis indicate that the statistically significant variables at 5% level are gene erosion, quality and nutrition of products and food labels for Bt maize products perceptions. On the other hand, low expenses, seed market availability and farmers’ knowledge perceptions were significant at 10%. These findings suggest that an adjustment in each one of the significant variables can significantly influence the probability of Bt maize adoption. In view of the research findings, several policy proposals are suggested to support policy formulation. Key words: Bacillus thuringiensis (Bt) maize, yieldgard, smallholder farmers, perceptions, Flagstaff, gross margin analysis, binomial logistic regression model, Eastern Cape Province.

This study examined the role of export diversification on economic growth in South Africa. The study used annual time series data for the period covering 1980 to 2010 and employed a Vector Error Correction Model to determine the effects of export diversification and possible factors that affect it on economic growth. Possible factors that affect export diversification considered as independent variables in this study include gross capital formation, human capital, real effective exchange rate and trade openness. Results of the study reveal that export diversification and trade openness are positively related to economic growth while real effective exchange rate, capital formation and human capital have negative long run relationships with economic growth. The study recommended the continual implementation of trade liberalisation by the South African government. The South African government is also encouraged to promote the production of a diversified export basket through subsidisation, promotion of innovation and production of new products.

This work examined the optimality of the inclusion of the exchange rate in the reaction function of the Central Bank in an inflation targeting framework. The study attempts to answer the question whether the exchange rate should have an independent role in an open economy Taylor-type rule. To this end, a Taylor-type rule is incorporating the exchange rate is estimated by the cointegration and vector error correction modeling (VECM) using quarterly data for the period of 1995 to 2009. The empirical studies point out the importance of the exchange rates in explaining and forecasting the behaviour of the South African Reserve Bank monetary policy control variable.

The purpose of the research is to assess the financial viability of selected urban and rural municipalities in the Eastern Cape. Municipalities that are not financially viable and sustainable will always struggle to deliver basic services to communities. Without sound financial management systems, municipalities will be forced to discontinue their operations. Municipalities, particularly small and rural ones, are not self-sufficient and often rely on grants and transfers to satisfy their immediate short-term goal of providing basic services to satisfy the needs of their communities. Therefore, finance is regarded as an overriding and decisive factor for determining the viability of municipalities. The study seeks to investigate the financial viability of selected urban and rural municipalities in the Eastern Cape. Its key research questions are: Are municipalities able to provide sufficient funds to provide a range of services at an acceptable service level? To what extent do municipalities rely on external funding? Do municipalities have revenue collection capacity and revenue policies? The study asserts that most municipalities lack the required financial resources. They depend mainly on transfers from Provincial Government and equitable share and conditional grants from National Government. Section 152 (1) of the Constitution of the Republic of South Africa, Act 8 of 1996, states, amongst other things, that Local Government should ensure the provision of services to communities in a sustainable manner. The constitution further states that a municipality must strive, within its financial and administrative capacity, to achieve its objectives. The Municipal Finance Management Act, Act 56 of 2003, creates a framework for municipalities to borrow money and determine the conditions for short- and long-term borrowing. The Act assigns clear roles and responsibilities to the various role players involved in local government financial management. According to the Act, an annual budget for a municipality may only be funded from realistically anticipated revenues to be collected. As revenue projections in the budget must be realistic, the Municipal Property Rates Act, Act 6 of 2004, facilitates the collection of revenue in municipalities and establishes a uniform property rating system across South Africa. Property tax is the biggest element of local government tax revenue and is central to municipal finance. The Municipal Systems Act, Act 32 of 2000, amongst its objectives, provides for the manner in which municipal powers and functions are exercised as well as establishes a simple framework for the core processes of planning, performance management and resource mobilisation. The Act also provides a framework for public administration and human resource development. Finally, it also empowers the poor and ensures that municipalities put in place service tariffs and credit control policies that take their needs into account. The research contends that, whilst there is legislation and structures to assist and direct municipalities, it has been established that municipalities do not properly collect rates and taxes due to them to augment their revenue. The study has shown nevertheless that metropolitan municipalities have the capacity to collect revenue for municipal services. This is confirmed by their collection rate which ranges between 94 % and 97 %. There is also the culture of non-payment by communities for services rendered by the municipalities. Rural municipalities are exempted from property tax, while other rural municipalities who have an urban component, have to collect. There is also the question of unemployment and poverty. Consequently, municipalities are not self-sufficient and rely on grants and equitable share to survive. As a result of this lack of self-sufficiency, it is difficult to implement service delivery and also difficult to attract skilled personnel. The study has investigated why some municipalities fail to collect revenue and depend on national grants. The study employed both qualitative and quantitative methods. The findings of the quantitative paradigm have been presented in the form of graphs and charts. The major findings include: All municipalities have limited borrowing capacity; have not exceeded their budgets in terms of their spending; small municipalities have households as their main contributor of revenue collected; metropolitan municipalities get the big slice of their revenue from business; small and rural municipalities rely on grants and transfers and are therefore not financially viable; metropolitan municipalities are, to a great extent, financially viable but lack skills and capacity to utilize their resources for effective service delivery; and all municipalities under-spend their budgets. The study, after elaborating on the findings, makes recommendations on how municipalities should become financially viable.

The Republic of South Africa emerged as 'a product of a historical moment' and also as a reaction against imperialism, colonialism, racial discrimination and domination over the majority of black South Africans by the white minority. The democratic dispensation came into being also for the first time in its life in memorial for a long turbulent history followed by the general democratic elections held on 27th April 1994. The 1994 first general election liberated South Africa from the apartheid system and its subsequent primary objective was “… to transform South Africa into a non-racial and democratic society”. The new democratic government now looks politically different from the racist regime because the current government since 1994 has been, and to date still is, a truly and broadly representative of the South African citizens and also a transparent one, whereas the defunct apartheid government was characterized primarily by, among other things, the violation of human rights, denying black South Africans of any rights of basic services, no rights of owning property or land, no freedom of association and speeches and firmly practised discrimination which was detrimental to the majority of the black population groups in this country. According to the then President Nelson Mandela whilst addressing the ANC masses that were commemorating the eighty-third (83rd) anniversary of the African National Congress on the 8th January 1995, democracy entails “… a thorough-going process of transformation, of overcoming the political, social and economic legacy of apartheid colonialism, of racism, sexism and class oppression.” The government is still grappling with the challenge of ensuringa better life for all the citizens of this country (http://www.anc.org.za/show.php?doc=ancdocs/history/jan8-95html:1).

M.A. / In terms of the Constitution, municipalities have a mandate to govern, to provide services and to promote social and economic development. Several pieces of legislation enhance the developmental role of local government, such as the Development Facilitation Act, 1995 (Act 67 of 1995) empowering municipalities to establish statutory land development objectives setting out a clear approach to land development for each municipality. The objects of local government as stipulated in section 152 of the Constitution of the Republic of South Africa , serve as a guideline in fulfilling its role and functions. The Integrated and Development Plan approach is more appropriate in facilitating efficiency and effectiveness in municipalities. Several provinces have passed regulations requiring that the land development objectives also cover economic development goals.The Department of Provincial and Local Government (DPLG) is compelled by law to use the Integrated Development Planning (IDP) and this is likely to shape the actions of local government in implementing policies intended to reduce poverty and inequality. A municipality must structure and manage its administration and planning process to give priority to the basic needs of the community and to promote the social and economic development of the community, according to the Constitution of the Republic of South Africa. Only when the majority of the citizens receive at least a lifeline supply of basic-need services and goods, can equity be achieved. This study focuses on the City of Johannesburg's constitutional obligation to promote local economic development. The study is limited in this way to make it more manageable. This area is selected on the basis that there is a diversity of people whose economic levels are highly different and therefore there is a need for LED. A municipality's approach to street traders in, for example, former Black township areas, is likely to be quite different to approaches in CBDs. The study is mainly a historical study of both published literature and unpublished material concerning municipalities' constitutional obligations to promote LED. The study is trying to pin down facts, and identify trends, in a rapidly changing environment.