Thesis (MA)--Stellenbosch University, 2001. / ENGLISH ABSTRACT: The Spatial Development Initiatives (SDIs) became the Department of Trade and Industry's (DTI) official policy in 1995/6 to accommodate problems, such as unemployment and empowerment, through sustainable development. We consequently pose the question whether the government has realised a strategic fit, i.e. whether the initial intention with the SDI strategy has consequently been achieved and, if not, what the main lessons are to fill the strategic gap? This question will be addressed in five chapters. The first chapter will provide the reader with the necessary background information on these initiatives. Before concluding (Chapter 6), the following three chapters will follow the inherent logic of the SDI strategy, i.e. economic investments are crowded in (Chapter 3) through a facilitating and mediating role of government (Chapter 4) in order to solve employment and empowerment (Chapter 5). Each realm, i.e. economic- political/institutional-and social, is evaluated on its contribution to the success of the Spatial Development Initiative. On the one hand it is difficult to say categorically whether or not there was a strategic fit, because the strategic aims were not initially written out in measurable detail. If the aim was to employ and to empower, while strengthening the institutions, we could qualitatively discern only when institutional capacity building (like in Lubombo) was a clear aim, that the resulting effect of the SDI strategy was significant. The employment and empowerment efforts may have been more disappointing than hoped for. But again this is difficult to discern because it may be too early to observe the trickle down effects. Neither is it easy to measure the many achievements that were recorded, and still then, they will probably look very relative because of the immensity of the problem. In 2001 the South African Government acknowledged that it has failed in its empowerment programme, while a Presidential Summit was convened in 1998 to search for employment solutions. Against this background and given that not more effort is made to measure the results of the efforts to create employment, has to indicate that the SDIs have not left behind an impression of having performed well in terms of their strategic aim. On the one hand this was because government strongly tended towards attracting foreign investment while paying too little attention to the subsequent needs of SMMEs. Moreover is there a need for an integrated and long-term development plan that allows rational choices to be made. Nevertheless, the fact that evaluations are commissioned and that government publicly admits a mistake could be the signs of a learning organisation, which again is the start of a positive process. / AFRIKAANSE OPSOMMING: Ruimtelike Ontwikkelings Inisiatiewe (ROI's) het die Departement Handel en Nywerheid se amptelike beleid in 1995/96 geword om probleme soos werkloosheid en swartbemagtiging deur middel van volhoubare ontwikkeling aan te spreek. Ons stel gevolglik die vraag of die regering 'n strategiese plan gehad het waarbinne die ROI inisiatief gepas het, of dit gewerk het en wat die lesse te leer is? Hierdie kwessie sal in vyf hoofstukke aangespreek word. Die eerste hoofstuk voorsien die leser van die nodige agtergrondinligting oor dergelike inisiatiewe. Die samevatting is hoofstuk ses, maar dit word deur drie ander hoofdstukke voorafgegaan: 'n logiese beoordeling van die ekonomiese determinante (hoofstuk drie), die fasiliterende rol van die regering (hoofstuk vier) en die suksesse, al dan nie, van werkskepping en bemagtiging (hoofstuk vyf). Elke tema word beoordeel in die lig van die vraag of dit bydra to die sukses van ROI's. Aan die een kant is dit moeilik te verklaar of daar 'n strategiese plan was omdat so 'n plan nie vooraf uiteengesit was nie. Indien dit die bedoeling was om werkgeleenthede te skep en om bemagtiging te bevorder, sou mens slegs na enkele inisiatiewe hoef te kyk, bv die Lubombo Plan. In so 'n geval was die suksesse tog beduidend. In die algemeen was die werkverskaffings- en bemagtigingsresultate egter teleurstellend. Dit is moontlik steeds te vroeg om 'n finale oordeel uit te spreek. Op hierdie stadium is dit geen eenvoudige taak om prestasies in die lig van die groter problematiek te meet nie. Bv in 2001 het die regering bevestig dat bemagtigingsprogramme in die lig van die presidensiele beraad van 1998, misluk het. Teen hierdie agtergrond word die indruk geskep dat die ROI's moontlik nie hul strategiese doelwitte bereik het nie. Sedertdien het die regering daarna gestrewe om buitelandse direkte investering na Suid-Afrika te lok deur middel van privatisering en klein, mikro en medium ondernemings te vestig. Die planne was moontlik meer suksesvol. Al hierdie inisiatiewe behoort in 'n enkele langtermyn ontwikkelingsplan opgeneem te word sodat rasionele keuses gemaak kan word. Dan sal daar duidelikheid wees oor die rol en plek van ROI's. Dit bestaan nog nie. Nietemin doen die regering reeds beoordelings van hulle planne met die oog om dit te hersien en die erkenning dat sekere planne nie hulle mikpunte bereik nie, is tekens daarvan dat 'n leerproses aan die orde van die dag is wat tog 'n positiewe begin was.

Thesis (MBA (Business Management))--Stellenbosch University, 2008. / ENGLISH ABSTRACT: This research studies the relationship between economic growth and commodity-market volatility in South Africa. The mining industry, largely supported by gold, diamonds, coal, iron ore and platinum-group metals, has played a central role in South Africa's economic development. The commodities that were selected for the study are the five major minerals, namely gold, coal, iron are, platinum-group metals and diamonds. It investigates two central questions, the first of which is whether the mining of the above commodities still makes a significant contribution to the South African economy in terms of employment, revenue and foreign-currency earning. The second is whether there is a link that reflects a statistically and economically significant association between commodity-price volatility and economic growth in South Africa. The economic environment in South Africa has been extremely positive, with a growth averaging around 5% for the period 2004-2006. An important contributing factor to this favourable environment has been the behaviour of mineral commodity prices. Mining makes a direct and indirect contribution of approximately 15% to GOP, accounts for around 50% of merchandise exports (including primary and beneficiated mineral exports), 12% of fixed investment, 30% of the market value of the JSE limited and 20% of formal-sector employment. Therefore, mining remains a key foundation of the South African economy. Time series data analysis confirms that the volatility of the major foreign currency-earning commodities - gold, platinum, coal, diamonds and iron ore - are negatively or weakly related. This relationship actually reflects the harmful effect of the volatility of these commodities on economic growth. Until recently, South Africa was heavily dependent on exports of primary commodities. Since the commodity prices are highly volatile, South Africa has to cope with large shocks, both positive and negative. Commodity cycles used to be determined by the growth cycle in the United States, but more recently, with the emergence of the Asian economies and China, in particular, the dominant influence of the United States economy on the commodity cycle has waned. The continuing instability in commodity prices and export earnings of South Africa has to be addressed by diversifying the exports towards more dynamic products; particularly manufactured goods and services. / AFRIKAANSE OPSOMMING: Die verwantskap tussen ekonomiese groei in Suid-Afrika en die mynbedryf, wat hoofsaaklik ondersteun word deur goud, diamante, steenkool, ystererts en die platinumgroepmetale, het 'n sentrale rol in Suid-Afrika se ekonomiese ontwikkeling gespeel. Die kommoditeite wat vir hierdie navorsing gebruik word, is die vyf belangrikste minerale, naamlik goud, steenkool, ystererts, die platinumgroepmetale en diamante. Twee sleutelvraagstukke word hier ondersoek, waarvan die eerste dit bevraagteken of die ontginning van bogenoemde kommoditeite nog steeds 'n belangrike bydrae tot die Suid-Afrikaanse ekonomie lewer wat indiensneming, inkomste en buitelandse valuta betref. Tweedens word daar ondersoek of daar enige skakel is wat 'n statistiese en ekonomies betekenisvolle verwantskap tussen kommoditeitsprysonbestendigheid en die ekonomiese groei van Suid-Afrika weerspieel. Die ekonomiese omgewing in Suid-Afrika was besonder positief, met 'n groeikoers van ongeveer 5% gedurende die 2004-2006-tydperk. Die gedrag van mineraalkommoditeitspryse het 'n belangrike bydrae tot die gunstige ekonomiese omgewing gelewer. Mynwese lewer 'n direkte en indirekte bydrae van ongeveer 15% tot die algemene binnelandse produk, is verantwoordelik vir ongeveer 50% van die uitvoer van handelsware (insluitend primere en veredelde mineraaluitvoere), 12% van vaste beleggings, 30% van die markwaarde van die Johannesburgse Aandelebeurs en 20% van die werksgeleenthede in die formele sektor. Daarom is mynwese 'n sentrale deel van die Suid-Afrikaanse ekonomie. Die ontleding van tydreeksdata bevestig dat die onbestendigheid van die belangrikste kommoditeite wat buitelandse valuta verdien, naamlik goud, platinum, steenkool, diamante en ystererts, negatief of swak verwant is. Hierdie verwantskap weerspieel eerder die skadelike uitwerking van hierdie kommoditeite se onbestendigheid op ekonomiese groei. Tot onlangs was Suid-Afrika grootliks afhanklik van die uitvoer van primere kommoditeite en die pryse van hierdie kommoditeite is baie onbestendig. Suid-Afrika moes dus groot skokke, positief sowel as negatief, die hoof bied. Die groeisiklus in Amerika het in die verlede die kommoditeitsiklusse bepaal, maar meer onlangs het die Asiatiese ekonomiee en veral China die dominante invloed van ekonomiese Amerika laat afneem. Die voortdurende onstabiliteit in kommoditeitspryse en buitelandse inkomste vir Suid-Afrika moet meer aandag geniet deur uitvoere te diversifiseer na meer dinamiese produkte, veral vervaardigde produkte en dienslewering.

Theses (MBA)--Stellenbosch University, 2002. / ENGLISH ABSTRACT: The concept of international competitiveness has become increasingly important due to globalisation and increased integration between nations and has been referred to as a "new type of warfare" in modern economies. With the advent of globalisation, countries have become more integrated not only through trade but also in financial markets. Consequently, the question of attaining sustainable development through international competitiveness has become very significant. As globalisation proceeds, it would appear that a combination of factors are raising the demand for skilled labour and lowering the demand for unskilled and semi-skilled labour. In South Africa, at least over the short term, the predictions are for declining demand for unskilled and semi-skilled labour and rising demand for skilled and professional occupations. South African manufacturing firms are generally characterised by low spending on innovation. Today there is a shift in the pattern of world trade away from commodity production and raw material intensive simple manufactured goods and towards increasingly knowledge-intensive goods and services. As the more traditional bases of securing a competitive advantage decline for South African manufacturing firms, the ability to compete will increasingly turn on their capacities to master information technology. Technological infrastructure is becoming a key asset for the future competitiveness of a nation. Technology also impacts on education. Therefore, the priority of a competitive nation is to develop the people who will operate the new technological infrastructure and strive to be on the leading edge of future developments. This is one of the reasons why South Africa has to improve on its technology in order to be attractive to foreign investment. It is clear ,that South Africa's current education and training system is not adequate to address the future challenges of the country. An integrated, restructured education and training system that is geared to supplying the necessary manpower to ensure high productivity and international competitiveness is needed if South Africa is to become globally competitive. Therefore the importance of education and training to upgrade people to enable them to earn more cannot be overemphasised. Much more emphasis must be put on technical training in South Africa. After some difficult years of isolation, South Africa has increased its rating on international competitiveness by three positions from 42nd in 2001 to 39th in 2002. It is hoped that South Africa's economic growth rate improves as a result of its pursuit of privatisation; reform of the state sector; and liberalisation of trade and tariffs. The social inequalities inherited from the past, high unemployment and a relatively high inflation rate may constrain the government's economic policy. The development priorities of developing countries such as South Africa include achieving sustained income growth for their economies by raising investment rates, strengthening technological capacities and skills and improving the competitiveness of their exports in world markets, distributing the benefits of growth equitably by creating more and better employment opportunities and protecting and conserving the physical environment for future generations. The new and more competitive context of liberalising and globalising the world economy in which economic activity take place imposes considerable pressures on developing countries to upgrade their resources and capabilities if they are to achieve these objectives. This study seeks to investigate the extent to which international competitiveness contributes to the economic development of South Africa, by studying the theory of comparative advantage and its implications to the modern theory of trade. The study explores and identifies key factors of international competitiveness and globalisation and the success of the application of international competitiveness into practice. The study concludes with possible areas of further research. / AFRIKAANSE OPSOMMING: Die konsep van internasionale mededingendheid word toenemend belangrik weens globalisering en groter integrasie tussen nasies en daar word in hedendaagse ekonomieë daarna verwys as 'n "nuwe soort oorlog". Met die koms van globalisering het lande nie net deur handel nie maar ook in finansiële markte meer geïntegreerd geraak. Die kwessie van die bewerkstelliging van volgehoue ontwikkeling deur internasionale mededingendheid het gevolglik baie belangrik geword. Namate globalisering voortgaan wil dit voorkom asof 'n kombinasie van faktore die vraag na geskoolde arbeid verhoog en die vraag na ongeskoolde en halfgeskoolde arbeid laat daal. In Suid-Afrika word 'n kleiner vraag na ongeskoolde en halfgeskoolde arbeid en 'n groter vraag na geskoolde en professionele beroepe oor ten minste die kort termyn voorspel. Suid-Afrikaanse vervaardigingsmaatskappye word oor die algemeen deur lae besteding aan innovasie gekenmerk. Daar is tans 'n verskuiwing in die patroon van wêreldhandel weg van kommoditeitsproduksie en grondstof-intensiewe eenvoudige vervaardigde goedere na toenemend kennis-intensiewe goedere en dienste. Namate die meer tradisionele grondslae waarop Suid-Afrikaanse vervaardigingsmaatskappye 'n mededingende voordeel verkry het, verdwyn, sal die vermoë om mee te ding toenemend afhang van hul vermoë om inligtingstegnologie te bemeester. Tegnologiese infrastruktuur word 'n baie belangrike bate vir die toekomstige mededingendheid van 'n land. Tegnologie het ook 'n impak op onderwys. Die prioriteit van 'n mededingende land is dus die ontwikkeling van die mense wat die nuwe tegnologiese infrastruktuur sal bestuur en wat daarna strewe om aan die spits van toekomstige ontwikkelings te wees. Dit is een van die redes waarom Suid-Afrika sy tegnologie moet verbeter ten einde aantreklik te wees vir buiteland,sebelegging. Dit is duidelik dat Suid-Afrika se huidige onderwys- en opleidingstelsel nie voldoende is om die toekomstige uitdagings vir die land die hoof te bied nie. 'n Geïntegreerde herstruktureerde onderwys- en opleidingstelsel wat daarop gemik is om die nodiqe mannekrag te voorsien om hoë produktiwiteit en internasionale mededingendheid te verseker, word vereis indien Suid-Afrika mededingend wil wees in die internasionale arena. Die belangrikheid van onderwys en opleiding om mense op te gradeer ten einde hulle in staat te stel om meer te verdien, kan nie oorbeklemtoon word nie. Groter klem moet op tegniese opleiding in Suid-Afrika gelê word. Na moeilike jare van isolasie het Suid-Afrika sy gradering ten opsigte van internasionale mededingendheid met drie posisies verbeter vanaf 42ste in 2001 tot 39ste in 2002. Suid-Afrika se ekonomiese groeikoers sal hopelik verbeter as gevolg van sy strewe na privatisering, hervorming van die staatsektor, en liberalisering van handel en tariewe. Die maatskaplike ongelykhede van die verlede, hoë werkloosheid en 'n betreklik hoë inflasiekoers kan moontlik die regering se ekonomiese beleid aan bande lê. Die ontwikkelingsprioriteite van ontwikkelende lande soos Suid-Afrika sluit die volgende in: volgehou inkomstegroei vir hul ekonomieë deur beleggingskoersverhogings, verbetering van tegnologiese kapasiteite en vaardighede, die verbetering van die mededingendheid van hul uitvoere in wêreldmarkte, die billiker verdeling van die voordele van groei deur meer en beter werkgeleenthede te skep, en die beskerming en bewaring van die fisiese omgewing vir toekomstige geslagte. Die nuwe en meer mededingende konteks van die liberalisering en globalisering van die wêreldekonomie waarin ekonomiese aktiwiteit plaasvind, plaas- groot druk op ontwikkelende lande om hul hulpbronne en kapasiteite te opgradeer indien hulle hierdie doelwitte wil bereik. Hierdie studie poog om die mate waarin internasionale mededingendheid tot die ekonomiese ontwikkeling van Suid-Afrika bydra, te ondersoek deur die teorie van mededingende voordeel en die implikasies daarvan vir die moderne handelsteorie te bestudeer. Die studie ondersoek en identifiseer die hooffaktore van internasionale mededingendheid en globalisering en die sukses van die toepassing van internasionale mededingendheid in die praktyk. Die studie word afgesluit met voorstelle vir moontlike verdere navorsing.

Thesis (MBA)--Stellenbosch University, 2002. / ENGLISH ABSTRACT: While The New Partnership for Africa's Development (Nepad) is a grand plan by African leaders to eradicate poverty and to place their countries on a path of sustainable growth and development, the African Union (AU) will attempt to unite Africa economically and to succeed where the non-interventionist Organisation of African Unity (OAU) had failed. What makes Nepad different to earlier plans is that African leaders have now taken the initiative and are assuming responsibility for the process. A requirement for Nepad to gain momentum is that peace and security must prevail on the continent. The responsibility for creating this environment will rest mainly on the shoulders of the AU. The purpose of this research is (a) To describe • the objectives of the AU and Nepad; • the AU's protocols and decisions on peace, security and good governance, and to highlight some accountability and enforcement challenges it will face; • the structure and organs of Nepad; • the African Peer Review Mechanism (APRM); and • the relations between Nepad, the AU and the G8; (b) To identify points of convergence / divergence between the AU and Nepad; (c) To evaluate • the AU on the basis of its handling of pressing leadership challenges on the African continent, in particular Zimbabwe, and • Nepad on the basis of progress made thus far with the implementation thereof. Nepad's preconditions for sustainable development imply that if the Peace and Security Council of the AU fails in its mission, Nepad will also fail, since satisfying these conditions - peace, security and political governance- is absolutely essential if Africa wants to attract the desperately needed capital flows from the industrial world. Chapter Two describes the major accountability and enforcement challenges that the AU will face. The author is of the opinion that the current lack of political will by African leaders to denounce the Mugabe regime, both individually and collectively as AU members, is severely damaging the credibility of both the AU and Nepad. Funding the AU may prove to be a huge stumbling block for the organisation. The AU should anticipate the unwillingness of members to pay their contributions, and therefore take a firm stand from the outset by imposing sanctions and/or withdrawing voting rights, as the OAU had to do to force countries to pay their dues. The author points out how contradictions in Nepad documents cause confusion, especially over certain security initiatives such as the African Peer Review Mechanism (APRM) and the AU's Conference on Security, Stability, Development and Cooperation in Africa (CSSDCA). Despite not having consulted and involved a broad spectrum from the outset and despite lack of clarity, Nepad seems to have made considerable progress in coopting role players who will be involved with projects on the ground. Nevertheless, due to the unwillingness of continental leaders to speak up against the Mugabe regime, the prognosis is that Nepad and the AU stand to loose face. Both Nepad and the AU need to build momentum, particularly around issues such as credibility and transparency, to prove its value. / AFRIKAANSE OPSOMMING: Terwyl die Nuwe Vennootskap vir Afrika se Ontwikkeling (Nepad) 'n plan van Afrikaleiers is om armoede op die vasteland uit te roei en om hul onderskeie lande op die pad van volhoubare ontwikkeling te plaas, gaan die Afrika Unie (AU) poog om Afrika ekonomies te verenig, iets wat die nie-inmengende Organisasie vir Eenheid in Afrika (OEA) nie kon vermag nie. Wat Nepad anders maak as vorige pogings is dat die inisiatief van Afrika-leiers self afkomstig is en dat elkeen verantwoordelikheid vir die proses aanvaar. 'n Vereiste vir Nepad om te slaag is dat vrede en stabiliteit in Afrika moet heers, en die verantwoordelikheid om hierdie kondisie te skep berus by die AU. Die doel van hierdie navorsing is (a) Om die volgende te beskryf: • Die doelwitte van die AU en Nepad; • Die verskillende protokols van die AU en besluite rondom vrede, sekuriteit en goeie regering, asook die uitdagings rondom toerekenbaarheid en die uitvoering van besluite; • Die struktuur van Nepad; • Die Oorsigmeganisme (APRM); • Verhoudinge tussen Nepad, die AU en die G8; (b) Om konvergente en divergente aspekte van die AU en Nepad uit te wys; (c) Om die volgende te evalueer: • Die AU op grond van sy hantering van dreigende leierskapsuitdagings, en in besonder Zimbabwe, en • Nepad op grond van die vordering wat tot op hede gemaak is met die implimentering daarvan. Nepad se voorvereistes vir volhoubare ontwikkeling impliseer dat sou die Veiligheidsraad van die AU in sy missie misluk, Nepad ook sal misluk, aangesien , vrede, stabiliteit en goeie regering absoluut noodsaaklik is indien Afrika die broodnodige kapitaal van die industriële wêreld na die kontinent wil lok. In Hoofstuk Twee word die vernaamste uitdagings rondom toerekenvatbaarheid en uitvoerbaarheid wat die AU in die gesig staar, bespreek. Die skrywer is van mening dat die huidige gebrek aan politieke wil deur leiers om, beide individueel en gesamentlik as AU lede, die Mugabe regime te kritiseer, die geloofwaardigheid van beide Nepad en die AU ernstige skade berokken. Die befondsing van die AU mag potensieël 'n struikelblok vir die organisasie word. Die AU moet verwag dat sommige lede onwillig mag wees om hul bydraes te betaal, en om hierdie rede moet vanuit die staanspoor daadwerklik teen sulkes opgetree word. Sanksies en die weerhouing van stemreg is twee maniere om nie-betalers aan te spreek, net soos die OEA destyds gedoen het met lidlande wat in gebreke gebly het om bydraes te betaal. Die skrywer wys ook daarop hoe Nepad dokumente mekaar weerspreek, veral ten opsigte van die Oorsigmeganisme (APRM) en die AU se Konferensie oor Sekuriteit, Stabiliteit, Ontwikkeling en Samewerking in Afrika (CSSDCA). Dit skep verwarring. Ten spyte van die feit dat die Nepad proses in gebreke gebly het om wyd te konsulteer, asook ten spyte van die verwarring wat heers, is daar reeds beduidende vordering gemaak wat betref die koöptering van belangrike rolspelers wat op voetsoolvlak by projekte betrokke gaan wees. Desnieteenstaande, Nepad en die AU loop die gevaar om aansien te verloor as gevolg van die onbereidwilligheid van Afrika-leiers om teen die Mugabe regime op te tree. Deursigtigheid en geloofwaardigheid is twee aspekte waaraan beide Nepad en die AU ernstig moet aandag gee om daadwerklik waarde toe te voeg.

Thesis (MBA)--Stellenbosch University, 2003. / ENGLISH ABSTRACT: Ever since the 1960's independence move, the African continent has been faced with dire economic and social realities, which were compounded by weak political leadership and state institutions. Although various socio-economic development initiatives, such as the 1980 Lagos Plan of Action and the eventual signing of the Abuja Treaty in 1991 purposed to support Africa's integration into the global economy through export orientated production and regional economic integration, there still existed an incoherency in the strategic response from the continent's political leaders towards regional and continental economic development strategies. While the foundation for establishing an African Economic Community has been laid through the Abuja Treaty within the framework of the Organisation for African Unity, regional economic and trade integration have been fragmented, with many dual and overlapping membership of regional economic communities. Integration endeavours have also often been impeded by national and sub-regional armed conflicts, and thus did not result in the desired levels of economic growth and expected increases in trade. The exigency to address Africa's severe poverty and unemployment, while at the same time placing the continent on a path of sustainable economic growth and development, made it clear that Africa had to take ownership and responsibility for its own development, while at the same time facilitating the continent's integration into the global political, economic, trade, and financial systems. Since Africa lacks sufficient development resources, African leaders realised the importance for support from the international community through more effective debt relief strategies in facilitating targeted domestic resource mobilisation, increased levels of development aid and trade access to developed nations' markets. In 2001 Africa produced its own integrated development initiative that was embodied in the New Partnership for Africa's Development, also known as NEPAD, premised on African leadership, ownership and partnership. Through NEPAD African leaders express a commitment to accountable and transparent political, financial, fiscal and monetary management in the absence of national and regional conflict, while calling on the international community and African and international private sectors to partnership with African governments in their development endeavours. At the same time, NEPAD identified critical sectoral priorities as preconditions for development that would facilitate greater flows of foreign direct investments. As operational sphere, NEPAD relies on prominent regional economic communities to address Africa's economic disadvantages and market fragmentation through development of trade linkages, harmonisation of regulatory frameworks and further regional trade liberalisation. The emphasis is on fostering a favourable African investment environment since it is acknowledged by African leaders that a prosperous private sector and business community are to be the engines of economic growth and development. The success of NEPAD as the socio-economic development plan of the newly formed African Union relies on the strength of only three supportive pillars namely: the sustained political visionary commitment from Africa's leaders, greater investments to the continent and trade access for Africa's products, and active participation from representative sectors of the private sector. Since NEPAD is a highly ambitious initiative, it is imperative that sub-regional strategies take precedence in ensuring NEPAD's long-term success. / AFRIKAANSE OPSOMMING: Sedert die onafhanklikheidsbeweging van die 1960's staar die Afrika-kontinent knellende ekonomiese en sosiale realiteite in die gesig. Realiteite wat deur swak politieke leierskap en staatsinstellings vererger is. Alhoewel verskeie sosio-ekonomiese ontwikkelingsinisiatiewe, soos die 1980 Lagos Plan van Aksie en die uiteindelike ondertekening van die Abuja-verdrag in 1991, beoog het om Afrika se integrasie in die wêreldekonomie te steun deur uitvoer-georiënteerde produksie en ekonomiese integrasie op streeksvlak, was die kontinent se politieke leiers se reaksie op regionale en kontinentale ekonomiese ontwikkelingstrategië inkoherent. Die fondasie vir die tot stand koming van 'n Afrika Ekonomiese Gemeenskap is deur die Abujaverdrag gelê binne die raamwerk van die Organisasie vir Afrika-eenheid, maar op streeksvlak was ekonomiese en handelsintegrasie gefragmenteerd - met 'n hoë voorkoms van dubbele en oorvleuelende lidmaatskap by regionale ekonomiese gemeenskappe. Pogings tot integrasie is ook dikwels deur gewapende konflikte, nasionaal en subregionaal, belemmer. Voorts het die gewenste vlakke van ekonomiese groei en verwagte toename in handel nie gerealiseer nie. Die dringendheid om Afrika se uiterste armoede en werkloosheid aan te spreek, en terselfdertyd die kontinent op 'n pad van volhoubare ekonomiese groei en ontwikkeling te plaas, het dit duidelik gemaak dat Afrika self verantwoordelikheid sal moet neem vir sy ontwikkeling, en daarteenoor die kontinent se integrasie in globale politieke, ekonomiese, handel-, en finansiële sisteme moet fasiliteer. Aangesien Afrika nie oor voldoende ontwikkelingsbronne beskik nie, het Afrika-leiers die belangrikheid besef van die internasionale gemeenskap se steun, d.m.v. meer effektiewe skuldlenigingstrategieë in die fasilitering van gefokuste plaaslike hulpbronmobilisasie, verhoogde vlakke van ontwikkelingshulp en handelstoegang tot markte van ontwikkelde nasies. In 2001 lewer Afrika sy eie geïntegreerde ontwikkelingsinisiatief wat vergestalt word in die Nuwe Vennootskap vir Afrika se Ontwikkeling (New Partnership for Africa's Development), ook bekend as Nepad, met Afrika-leierskap, -eienaarskap en -vennootskap as basis. Afrika-leiers betuig deur Nepad 'n verbintenis tot verantwoordbare en deursigtige politieke, finansiële, fiskale en monetêre bestuur in die afwesigheid van nasionale en streekskonflik, terwyl hulle die internasionale gemeenskap en internasionale en Afrika-privaatsektore nader vir vennootskap met Afrika-regerings in hulle ontwikkelingspogings. Nepad identifiseer terselfdertyd kritieke sektorale prioriteite as voorwaardes vir ontwikkeling, wat groter vloei van direkte buitelandse belegging sal vergemaklik. As operasionele sfeer, maak Nepad staat op prominente regionale ekonomiese gemeenskappe om Afrika se ekonomiese agterstande en markfragmentasie aan te spreek deur die uitbou van handelskakelings, harmonisering van regulatoriese raamwerke en verdere regionale handelsliberalisering. Die klem is daarop om 'n gunstige investeringsomgewing in Afrika te bevorder, aangesien Afrika-leiers erken dat 'n florerende privaatsektor en besigheidsgemeenskap die dryfkrag vir ekonomiese groei en ontwikkeling is. Nepad se sukses as die sosio-ekonomiese ontwikkelingsplan vir die nuut-gevormde Afrika-unie berus op die krag van slegs drie ondersteunende pilare, naamlik: die volgehoue politieke verbintenis tot die visie deur Afrika-leiers, groter beleggings in die kontinent en handelstoegang vir Afrika se produkte, en aktiewe deelname van verteenwoordigende sektore uit die privaatsektor. Met 'n hoogs ambisieuse inisiatief soos Nepad, is dit gebiedend noodsaaklik dat subregionale strategieë voorkeur geniet ten einde Nepad se langtermyn sukses te verseker.

Dissertation (PhD) -- University of Stellenbosch, 2000. / ENGLISH ABSTRACT: The Lucas critique states that if expectations are not explicitly dealt with, conventional econometric models are inappropriate for policy analyses, as their coefficients are not policy invariant. The inclusion of rational expectations in ·conventional model building has been the most common response to this critique. The concept of rational expectations has received several interpretations. In numerous studies, these expectations are associated with model consistent expectations in the sense that expectations and model solutions are identical. To derive a solution, these models require unique algorithms and assumptions regarding their terminal state, in particular when forward-looking expectations are present. An alternative that avoids these issues is the concept of weak rational expectations, which emphasises that expectation errors should not be systematic. Expectations are therefore formed on the basis of an underlying structure, but full knowledge of the model is not essential. The accommodation of this type of rational expectations is accomplished by means of an explicit specification of an expectations equation consistent with the macro econometric model's broad structure. The estimation of coefficients relating to expectations is achieved through an Instrumental Variable approach. In South Africa, monetary policy has been consistent and transparent in line with the recommendations of the De Kock Commission. This allows the modelling of the policy instrument of the South African Reserve Bank, i.e. the Bank rate, by means of a policy reaction function. Given this transparency in monetary policy, the accommodation of expectations of the Bank rate is essential in modelling the full impact of monetary policy and in avoiding the Lucas critique. This is accomplished through weak rational expectations, based on the reaction function of the Reserve Bank. The accommodation of expectations of a policy instrument also allows the modelling of anticipated and unanticipated policies as alternative assumptions regarding the expectations process can be made during simulations. Conventional econometric models emphasise the demand side of the economy, with equations focusing on private consumption, investment, exports and imports and possibly changes in inventories. In this study, particular emphasis in the model specification is also placed on the impact of monetary policy on government debt and debt servicing costs. Other dimensions of the model include the modelling of the money supply and balance of payments, short- and long-term interest rates, domestic prices, the exchange rate, the wage rate and employment as well as weakly rational expectations of inflation and the Bank rate. The model has been specified and estimated by usmg concepts such as cointegration and Error Correction modelling. Numerous tests, including the assessment of the Root Mean Square Percentage Error, have been employed to test the adequacy of the model. Similarly, tests are carried out to ensure weak rational expectations. Numerous simulations are carried out with the model and the results are compared to relevant alternative studies. The simulation results show that the reduction of inflation by means of only monetary policy could impose severe costs on the economy in terms of real sector volatility. / AFRIKAANSE OPSOMMING: Die Lucas-kritiek beweer dat konvensionele ekonometriese modelle nie gebruik kan word vir beleidsontleding nie, aangesien dit nie voorsiening maak vir die verandering in verwagtings wanneer beleidsaanpassings gemaak word nie. Die insluiting van rasionele verwagtinge in konvensionele ekonometriese modelle is die mees algemene reaksie op die Lukas-kritiek. Ten einde die praktiese insluiting van rasionele verwagtings III ekonometriese modelbou te vergemaklik, word in hierdie studie gebruik gemaak van sogenaamde "swak rasionele verwagtings", wat slegs vereis dat verwagtingsfoute me sistematies moet wees nie. Die beraming van die koëffisiënte van die verwagtingsveranderlikes word gedoen met behulp van die Instrumentele Veranderlikes-benadering. Monetêre beleid in Suid-Afrika was histories konsekwent en deursigtig in ooreenstemming met die aanbevelings van die De Kock Kommissie. Die beleidsinstrument van die Suid-Afrikaanse Reserwebank, naamlik die Bankkoers, kan gevolglik gemodelleer word met behulp van 'n beleidsreaksie-funksie. Ten einde die Lukas-kritiek te akkommodeer, moet verwagtings oor die Bankkoers egter ingesluit word wanneer die volle impak van monetêre beleid gemodelleer word. Dit word vermag met die insluiting van swak rasionele verwagtings, gebaseer op die reaksie-funksie van die Reserwebank. Sodoende kan die impak van verwagte en onverwagte beleidsaanpassings gesimuleer word. Konvensionele ekonometriese modelle beklemtoon die vraagkant van die ekonomie, met vergelykings vir verbruik, investering, invoere, uitvoere en moontlik die verandering in voorrade. In hierdie studie word daar ook klem geplaas op die impak van monetêre beleid op staatskuld en die koste van staatsskuld. Ander aspekte wat gemodelleer word, is die geldvoorraad en betalingsbalans, korttermyn- en langtermynrentekoerse, binnelandse pryse, die wisselkoers, loonkoerse en indiensneming, asook swak rasionele verwagtings van inflasie en die Bankkkoers. Die model is gespesifiseer en beraam met behulp van ko-integrasie en die gebruik van lang-en korttermynvergelykings. Die gebruiklike toetse is uitgevoer om die toereikendheid van die model te toets. Verskeie simulasies is uitgevoer met die model en die resultate is vergelyk met ander relevante studies. Die gevolgtrekking word gemaak dat die verlaging van inflasie deur alleenlik gebruik te maak van monetêre beleid 'n swaar las op die ekonomie kan lê in terme van volatiliteit in die reële sektor.

Dissertation (PhD)--University of Stellenbosch, 2007. / ENGLISH ABSTRACT: This thesis is a collection of eight essays on links between stock market development and economic growth in selected African countries. In the first essay an overall index of stock market development shows that South Africa, Mauritius, Zimbabwe, Morocco and the BRVM in Cote d’Ivoire have the most developed stock markets in terms of market size, liquidity and transactions cost indicators. However, Nigeria and Egypt also emerge when institutional development is considered. Ghana, Malawi and Namibia have the least developed stock markets. Results from the second essay on stock markets and growth show a positive relationship between stock market development and economic growth. This positive influence is significant for countries classified as upper-middleincome economies. On the basis of market capitalization groupings, stock market developments play a significant role in growth only for moderately capitalized markets. Form the third essay exchange rate depreciation in the long-run leads to increases in stock market returns in Tunisia. Exchange rate movement leads to stock market returns in Egypt, while stock market returns lead to exchange rate movement in Kenya and Mauritius. Shocks induced by either stock market returns or exchange rate changes are more protracted in Ghana, Kenya, Mauritius and Nigeria than in South Africa and Egypt. Cointegration analysis in the fourth essay reveals a negative relationship between inflation and stock market prices for three out of seven countries: Egypt, Mauritius and South Africa. Short-run models for these countries show a negative response of stock returns to instantaneous change in inflation. In Ghana, Kenya, Nigeria and Tunisia, where cointegration is absent, there is unidirectional causality from inflation to stock returns for Ghana, bidirectional causality between inflation and stock returns for Kenya, and no significant results for Nigeria and Tunisia. Results from the fifth essay show that investment in the selected countries grows significantly with an increase in stock market returns. Even without the inclusion of South Africa in the panel, stock market returns in the other relatively less developed African economies impact positively on investment growth. Cointegration tests from the sixth essay indicate a long-run relationship between interest rate and stock prices for Kenya and South Africa. In the short-run there is unidirectional causality from stock returns to interest rate in Kenya and bidirectional causality in South Africa. Responses to shocks have long-lasting effects in Egypt, Ghana, Nigeria and Tunisia and are short-lived in Mauritius. The seventh essay shows that countries with more developed stock markets (Cote d’Ivoire, South Africa, Mauritius, Tunisia and Morocco), have the most developed financial intermediation system. There is evidence from correlation analysis of complementarity between stock market development and bank developments in the selected countries. Finally from the eighth essay two long-run stable cointegration relations are found, one hinging on a larger market (South Africa) and the other on a smaller market (Ghana). The short-run error correction framework shows significant feedback and causal effects both ways from smaller to larger markets. / AFRIKAANSE OPSOMMING: Hierdie tesis bestaan uit 'n versameling van agt essays oor verwantskappe tussen aandelemarkontwikkling en ekonomiese groei in geselekteerde Afrika-lande. In die eerste essay toon 'n algehele indeks van aandelemarkontwikkeling aan dat Suid-Afrika, Mauritius, Zimbabwe, Marokko en die BRVM in die Ivoorkus die mees ontwikkelde aandelemarkte het wat grootte, likiditeit en transaksiekoste-aanwysers betref. Nigerië en Egipte kom egter ook te voorskyn wanneer institusionele ontwikkeling in ag geneem word. Ghana, Malawi en Namibië se aandelemarkte is die minste ontwikkel. Die resultate van die tweede essay oor aandelemarkte en groei toon 'n positiewe verwantskap tussen aandelemarkontwikkeling en ekonomiese groei. Hierdie positiewe invloed is beduidend vir lande wat as hoër-middelinkomste ekonomieë geklassifiseer word. Aandelemarkontwikkelings speel op grond van markkapitalisasiegroeperinge net in matig gekapitaliseerde markte 'n beduidende rol in groei. In die derde essay word aangetoon dat wisselkoersdepresiasie op lang termyn tot 'n toename in aandelemarkopbrengste in Tunisië gelei het. Wisselkoersbeweging lei tot aandelemarkopbrengste in Egipte terwyl aandelemarkopbrengste tot wisselkoersbeweging in Kenia en Mauritius lei. Skokke wat deur aandelemarkopbrengste of wisselkoersveranderings veroorsaak word, is meer langdurig in Ghana, Kenia, Mauritius en Nigerië as in Suid-Afrika en Egipte. In die vierde essay bring koïntegrasie 'n negatiewe verwantskap tussen inflasie en aandelemarkpryse aan die lig vir drie van die sewe lande: Egipte, Mauritius en Suid-Afrika. Korttermynmodelle vir hierdie lande dui op 'n negatiewe respons van aandelemarkte op 'n oombliklike verandering in inflasie. In Ghana, Kenia, Nigerië en Tunisië, waar koïntegrasie afwesig is, is daar 'n eenrigting oorsaaklikheid van inflasie na aandele-opbrengste vir Ghana, 'n tweerigting oorsaaklikheid tussen inflasie en aandele-opbrengste vir Kenia, en geen beduidende resultate vir Nigerië en Tunisië nie. Die resultate in die vyfde essay toon aan dat belegging in die geselekteerde lande beduidend groei met 'n toename in aandelemarkopbrengste. Selfs sonder om Suid-Afrika by die paneel in te sluit, het aandelemarkopbrengste in ander betreklik minder ontwikkelde Afrika-ekonomieë 'n positiewe uitwerking op ekonomiese groei gehad. Die koïntegrasietoetse van die sesde essay dui op 'n langtermynverwantskap tussen rentekoerse en aandelepryse in Kenia en Suid-Afrika. Daar is op kort termyn 'n eenrigting oorsaaklikheid van aandele-opbrengste na rentekoerse in Kenia, en tweerigting oorsaaklikheid in Suid-Afrika. Response op skokke het 'n langdurige uitwerking in Egipte, Ghana, Nigerië en Tunisië, maar is van korte duur in Mauritius. Die sewende essay toon aan dat lande met meer ontwikkelde aandelemarkte (Ivoorkus, Suid-Afrika, Mauritius, Tunisië en Marokko) die mees ontwikkelde finansiële bemiddelingstelsel het. Korrelasieontleding in die geselekteerde lande toon bewyse van van komplementariteit tussen aandelemarkontwikkeling en bankontwikkeling. Laastens is daar in die agste essay twee langtermyn stabiele koïntegrasieverhoudings gevind – een wat van 'n groter mark (Suid-Afrika) afhang en een wat van 'n kleiner mark (Ghana) afhang. Die korttermyn-foutkorreksieraamwerk toon beduidende terugvoer en kousale uitwerkings in albei rigtings van kleiner tot groter markte. / pdv2012

The market value of Black Economic Empowerment (BEE) companies listed on the JSE Securities Exchange (JSE) has fallen to only 2% of the overall market capitalisation of the JSE. Many BEE companies have disappeared from the exchange and there have been many failures.<br /> <br /> In the context of the report of the BEE Commission (BEE Com), it is essential to understand why these failures have occurred and it is essential to research methods of structure, capitalisation and listings to ensure that ownership of the economy is fairly distributed in future as per the recommendations of the BEE Comm. The motivation for this research project is based on the fact that as a member of the Historically Disadvantaged Group in this country, and after having qualified in the Faculty of Law with a commercial background, I would like to attempt to make a meaningful contribution to the transformation that should take place to facilitate equality of ownership of the economy.<br /> <br /> The proposed research is critically important as the recommendations of the Commission have to be implemented as a matter of urgency, given the current slow growth rate of the economy and given the fact that as many more new enterprises could be listed on the JSE, it would provide further access to jobs, thereby positively impacting on the unemployment situation thereby contributing to poverty relief.

Thesis (Ph.D. (International Relations))--University of the Witwatersrand, Faculty of Humanities, 2016 / This thesis examines the efforts of the Common Market for Eastern and Southern Africa (COMESA) and the Southern African Development Community (SADC) to promote regional integration between 1980 and 2015 in the areas of trade and security. The conceptual framework provides a focused review of general and specific literature on two key concepts of regional integration: divergence, and convergence. Throughout the thesis, the core focus is on the divergence and convergence of COMESA and SADC. The thesis articulates two analytical frameworks: the neoclassical economics approach, and the neoclassical realist approach. A historical account focuses on the history of the Preferential Trade Agreement (PTA) of 1981 that evolved into COMESA by 1993. A history of Southern Africa’s Frontline States (FLS), which evolved into the Southern African Development Coordination Conference (SADCC) in 1980, and later into SADC in 1992, is then provided. The thesis discusses apartheid South Africa’s involvement in the Eastern and Southern African regions. The thesis provides a discussion on the debate on the rationalisation processes of these two organisations: COMESA and SADC, between 1991 and 1997. The thesis next expands on the regionalisation processes of COMESA and SADC between 2008 and 2015. The main actors and factors assessed involve South Africa’s market-led regional approach, its regional developmental role and its economic impact on both regions since it joined SADC in 1994. The thesis expands on the two main regional integration approaches adopted by the COMESA–EAC (East African Community)–SADC Tripartite bloc (created in 2008) of variable geometry and trade liberalisation, as it moved towards its Tripartite Free Trade Area that was signed in June 2015. The thesis also provides definitions and assumptions of two new theories deployed to strengthen the research: i) neoclassical economic regional integration, and ii) neorealist security convergence, which are applied in the thesis. The thesis thus expands on how COMESA and SADC (as both institution and member states) manage multiple memberships. A central argument of the thesis is that multiple memberships have become a stumbling block for convergence. In furtherance of this argument, the thesis explains the benefits of regional integration schemes. Therefore assessed, is how developing countries are likely to be better served by “North–South” than by “South–South” free trade agreements. The analysis is expanded by a discussion of economic convergence in the neoclassical economic approach of open trade in regional trade agreements within the Southern African Customs Union (SACU) – whose five members all belong to SADC - with the presence of a regional hegemonic state: South Africa. To further expand the concept of regionalism to encompass security cooperation, the thesis finally assesses COMESA and SADC’s managing of regional security since the 2008 Tripartite Agreement, by employing the concept of regional security complexes. / MT2017

A Dissertation submitted to the Faculty of Humanities University of the Witwatersrand, Johannesburg in fulfilment of the requirements for the degree of Doctor of Philosophy. April 2017 / Sustainable development is one of the major discourses of the twenty first century. In many instances sustainable development has been synonymous with the discourse of ecological modernisation. Ecological modernisation, as a discourse, has been proposed as an entreating means to reach the ideal of development that is sustainable, but has by and large only been tested within developed nations. There is, however, a prominent academic debate centred on the potential social and environmental justice concerns that may emanate from the promotion of ecological modernisation in environmental policy. This research project aimed to understand the degree to which ecological modernisation has been embraced in South Africa, and the environmental justice implications of this adoption. This was in an attempt to build an environmental justice policy framework for ecological modernisation in a bid to address environmental justice concerns. South African energy policy and practice was investigated in order to do this. Civil society hold an esteemed position in ecological modernisation, and as such in-depth, semi-structured interviews were conducted with a number of civil society activists who are involved in a range of campaigns for environmental justice. Their insights and solutions to potential environmental justice concerns that would result from using ecological modernisation were investigated. This was done in an attempt to build a list of environmental justice principles that can possibly be used to inform policies based on ecological modernisation in order to ensure just development. These criteria address the role of government, the role of society at large, as well as industry, and for the most part seek to understand if the disparate power dynamics that exist amongst these three actors can potentially be addressed. South African energy policies were analysed for evidence of these justice principles. It was found that South African energy policies do not address environmental justice in any measure that would truly allow for justice to be put into the practice of governing the environment. Therefore, by incorporating these environmental justice principles into ecological modernisation, ecological modernisation can potentially be stronger in approach to sustainable development than it presently is. / MT 2018