A dissertation submitted to the Faculty of Commerce, Law and Management, University of the Witwatersrand, Johannesburg, in fulfilment of the Requirements for the Degree of Doctor of Philosophy 19 August 2015 / This thesis focusses on the impact of Foreign Direct Investment (FDI) on economic performance in selected African countries over the period 1980-2012. The thesis is divided into five chapters and three of them are empirical. Chapter 1 is the introduction. Chapters 2, 3 and 4 are empirical chapters examining the impact of FDI on various indicators of economic performance. Chapter 5 concludes by giving policy recommendations. In chapter 1 we provide a background, motivation, objectives, hypothesis to be tested, gaps in the literature, contributions of the study and the main findings. Chapter 2 examines the link between FDI and domestic investment and the role of host country factors namely financial development, institutional development and trade openness. We use the ordinary least squares, random effects, fixed effects and the system GMM methodologies on a panel of 48 African countries over the period 1980 to 2012. The results show that FDI has a crowding out effect on domestic investment and that improved institutions and trade openness do mitigate the substitutionary effect of FDI on domestic investment. This implies a need to come up with policies to improve local conditions by strengthening institutional quality and enhancing trade openness. Chapter 3 investigates the impact of FDI on productivity growth and the role of relative backwardness (the technology gap) on a panel of 45 African countries over the period 1980-2012. We use two measures of relative backwardness namely: the distance from technological frontier and the income gap. We apply the fixed effects, random effects and system GMM method to account for the issues of endogeneity. The results show a general insignificant effect of FDI on TFP growth. This suggests that FDI has a limited effect on productivity growth. The analysis of the advantage of relative backwardness does not support the convergence theory of Findlay (1978) and Wang and Blomstrom (1992). The large technology gaps in African countries hinder their ability to absorb foreign technologies from advanced countries. Chapter 4 analyses the long run dynamic relationship between FDI, exports, imports and profit outflows in 47 African countries over the period 1980-2012 by means of panel cointegration techniques. The results from the panel cointegration tests show that a long run relationship exists between the variables. Our findings provide evidence on the adverse long run effects of FDI on the current account in African economies. In particular, the results show that, FDI inflows lead to a decrease in exports and an increase in both imports and profit remittances. These findings confirm that indeed profit outflows by multinational companies are one of the main factors driving current account deficits in African countries. Chapter 5 is the conclusion. We provide a key summary of the key issues covered, the main findings, the key contributions of the study and the policy recommendations. We also suggest areas for further research in the future. / MT2017

Thesis (MA)--Stellenbosch University, 2015. / ENGLISH ABSTRACT: The emergence of the People‘s Republic of China (PRC) as an economic superpower has become one of the most significant developments in world affairs in recent times. As the PRC has grown in economic significance, it seeks to translate this to all areas of its relationship with the rest of the world. Africa and African countries are a region where the PRC‘s involvement and engagement has elicits major consternation, especially from Western countries. However, this region, relative to its geographic and population size, natural endowments, and engagement with other regions andWestern countries in particular, remains insignificant in the PRC‘s external relations. South Africa enjoys very good diplomatic relations with the PRC, disproportionate to its significance with regard to the PRC‘s quest for resource that fuels its phenomenal economic resurgence. South Africa and the PRC‘s relationship has, within a decade, grown in depth and complexity that supersedes despite major asymmetries between them. South Africa is the first developing and African country with which the PRC established a comprehensive strategic partnership. While the concept of a ‗strategic partnership‘ remains unclear in international relations, it conveys a relationship of significance and stature that supplements ordinary bilateral relationships, although the latter are better defined and binding than the former. Clearly, the Chinese government attaches great importance to its relationship with South Africa. The advent of democracy and a thriving pluralistic socio-economic and cultural society that is admired despite the challenges it faces, makes South Africa an exemplar and desirable partner. South Africa‘s international stature and role in the international system, matches the PRC‘s objectives in this regard, making South Africa a good foil for PRC. However, this study contends that there are reasons that are beyond the well-worn natural resource extraction and diplomacy arguments that make South Africa attractive to the PRC. It uses asymmetry theory of international relations to explore and elucidate this. It explores what underpins, motivates and accounts for the rapid progression of this relationship and the implications this may have on their relationship in the future This thesis uses Womack‘s (2001, 2003, 2003a, 2006, 2006a, 2010) terminology and methodology to look at how South Africa and the PRC concentrate on areas of complementarity and cooperation and seek and foster mutual understanding and appreciation of each other‘s societies and histories. The thesis explore how they work to actively convert hostility to friendship and adroitly manage the relationship to prevent it drifting from friendship to hostility, as well as using what Womack calls routinization, neutralization and diplomatic ritual, in managing their partnership. From the perspective of asymmetry theory, the PRC and South Africa are complementary. South Africa is the largest; most sophisticated, developed and diversified economy in Africa and the developing world. It possesses or has access to technical and managerial knowhow that the PRC would have difficulty accessing elsewhere. South Africa remains a strategic maritime and naval route for the PRC‘s trade and accesses to key resources on the African continent and elsewhere. The study finds that asymmetry theory is useful in understanding how South Africa and the PRC manage their relationship. Asymmetry theory provides a framework to analyse the motivations and dynamic interactions that drive the progression of their diplomatic relations. The findings of the thesis imply a diplomatic relationship between South Africa and the PRC that is based on more than just the PRC‘s need for resources and diplomatic support in the international system. / AFRIKAANSE OPSOMMING: Die onlangse toetrede van die VolksRepubliek van China (VRC) tot die geledere van die ekonomiese supermoondhede het een van die mees beduidende verwikkelinge in wêreldaangeleenthede geword. Soos die VRC ekonomies belangriker geword het, is gepoog om hierdie sukses te herhaal op ander terreine van die land se buitelandse betrekkinge met die res van die wêreld. Afrika en Afrika lande is ‗n streek waar die VRC se betrokkenheid en verbindnisse groot konsternasie ontlok het, veral vanaf Westerse lande. Maar hierdie streek, relatief tot sy geografiese en demografiese grootte, natuurlike hulpbronne en betrokkenheid by ander streke en veral Westerse lande, bly onbeduidend in die VRC se buitelandse betrekkinge. Die aandag wat Suid Afrika van die VRC geniet is disproporsioneel in vergelyking met die belang van die VRC se soeke na hulpbronne om haar fenomenale ekonomiese groei te stook. Die verhoudinge tussen Suid-Afrika en die VRC het in die bestek van ‗n dekade gegroei in diepte en kompleksiteit wat als oorskadu ten spyte van groot ongelykhede tussen hulle. Suid- Afrika is die eerste ontwikkelende land met wie die VRC ‗n omvattende strategiese vennootskap gesluit het. Terwyl die konsep van ‗n ‗strategiese vennootskap‘ onduidelik bly in internasionale betrekkinge, vergestalt dit betrekinge van beduidenis en statuur wat gewone bilatirale betrekkinge aanvul, alhoewel laasgenoemde beter gedefinieer en bindend is as eersgenoemde. Dit is duidelik dat die Chinese regering groot belang heg aan betrekkinge met Suid-Afrika Die oorgang na demokrasie en ‗n florerende plurale sosio-ekonomiese kulturele samelewing wat bewonder word ten spyte van die uitdagings wat dit in die gesig staar, maak van Suid- Afrika ‗n navolgingswaardige en wenslike vennoot. Suid-Afrika se internasionale statuur en rol in die internasionale stelsel pas die VRC se doelwitte in hierdie opsig en maak van Suid- Afrika ‗n goeie skerm floret vir die VRC. Maar, hierdie tesis betoog dat daar ook ander redes is buiten die wel bekende natuurlike hulpbron onttrekking en diplomatieke argumente wat Suid-Afrika vir die VRC aantreklik sou maak. Womack se ongelykheidsteorie in internasionale betrekkinge word gebruik om dit te ondersoek en toe te lig. Ongelykheidsteorie is nog nie voorheen in studies oor hierdie betrekkinge gebruik nie. Hierdie tesis verskaf dus ‗n belangrike alternatiewe metode om hierdie betrekkinge te bestudeer. Die tesis ondersoek Suid-Afrika en die VRC se betrekkinge na aanleiding van Womack (2001, 2003, 2003a, 2006, 2006a, 2010) se terminologie en metodologie en fokus op gebiede waar die twee lande mekaar komplimenteer en kan saamwerk; wedersydse verstaan van, en waardering vir, mekaar se mense en geskiedenisse kan koester; om aktief vyandigheid te omskep in vriendskap en om verhoudings so bedrewe te bestuur dat vriendskap nie in vyhandigheid verander nie; en om ook wat Womack roetiene, neutraliteit en diplomatieke ritueel noem te gebruik in die bestuur van hul vennootskap. Deur die lens van ongelykheidsteorie kyk die tesis na wat die vinnige progressie wat hierdie betrekkinge onderskraag, motiveer en verklaar. Vanuit die perspektief van ongelykheidsteorie vind die VRC Suid-Afrika komplimenterend. Dit is die grootste, mees gesofistikeerde, ontwikkelde en gediversifiseerde ekonomie in Afrika en die ontwikkelende wêreld. Dit besit of het toegang tot tegniese en bestuurskennis wat die VRC moeilik elders toegang toe sou kon kry. Suid-Afrika bly ‗n strategiese maritime en vloot roete vir VRC handel en toegang tot sleutel hulpbronne op die Afrika kontinent en elders. Een van die bevindings van die studie is dat ongelykheidsteorie ‗n nuttige metode is om die bestuur van die verhouding tussen Suid-Afrika en die VRC te verstaan. Dit verskaf ‗n raamwerk vir die analise van die motiverings en dinamiese interaksies wat die vordering van hul diplomatieke betrekkinge bepaal. Die bevindings van die tesis impliseer dat die diplomatieke betrekkinge tussen Suid-Afrika en die VRC nie net op die VRC se behoefte aan bronne en diplomatieke steun in die internasionale stelsel gebaseer is nie.

Thesis (MDF)--Stellenbosch University, 2015. / ENGLISH ABSTRACT: This work empirically examines South African data covering the years 1956-2011 to look into the relationship between FDI and inequality. By investigating how FDI is linked to inequality, policy makers would be better poised to develop policies that optimise on the benefits of FDI without the dampening effect of inequality. The benefits of FDI, particularly to the South African economy, are that it provides capital to finance investment by bridging the savings gap in the country. In addition to that, FDI facilitates transfer of technology and managerial skills from the source country. Moreover, FDI has a positive impact on balance of payment not only because of the impact capital inflow has on balance of payment, but because FDI also promotes exports of the country to world markets. Empirical evidence presented in literature suggests that the FDI-inequality relationship is complex. In some locations, for example in the US, Latin America and in some developing countries, FDI tends to raise income inequality. In other locations evidence is inconclusive. The results of this study showed that there is a negative relationship between inequality and foreign direct investment for the period examined in the study. This finding is not consistent with the a priori expectation that foreign direct investment increases inequality. Contrary to what has been predicted, the findings show that foreign direct investment is likely to reduce inequality. The findings also show that there is a statistically significant and positive relationship between GDP and inequality.

M.Comm. (Economics) / The objective of this dissertation was to examine the effects of the European Union on the external trade relations of South Africa during the period of the lifting of sanctions, 1988 current. The rules for trade with third countries like South Africa, are formulated by the Council of Ministers. The Commission of the European Communities is primarily responsible for implementing the rules and regulations approved by the Council. Recent developments in the Union, such as the completion of the single market programme, had a profound effect on the Union's trade with third countries. South Africa is no longer in a position to negotiate with the individual member states of the Union, but must deal with the institutions of the European Union like the Commission, the Council and the European Court. In 1994 the member states of the European Union and the five member states of the European Free Trade Area formed the European Economic Area with a population of more than 385 million. The European Union has several preferential trade arrangements with developed and developing countries. It provides different degrees of preferences to various groups of developing countries. The depth and breadth of these preferences are not necessarily related to the level of development of the recipient country. A hierarchy of preferences can be distinguished, the so-called pyramid of preferences. The most important of these arrangements, and at the top of the hierarchy, is the agreement with the 70 African, Caribbean and Pacific countries (ACP countries), the Lome Convention. The Union abides by the most favoured nation rule of the newly formed World Trade Organisation. Its preferential trade arrangements are within the rules of the World Trade Organisation. South Africa's future arrangements with the Union will have to be formulated within the rules and regulations of the World Trade Organisation. South Africa, as a developed country, was included in the Union's generalised system of preferences (GSP) since September 1994. There are several possibilities for South Africa to negotiate a preferential trade agreement with the Union. It is possible for South Africa to obtain qualified membership of the Lome Convention. The ACP countries have agreed to South Africa's qualified membership of the Convention at the Joint Assembly between the ACP countries and the Union in Gabon in 1994. At this stage it is not clear what South Africa's qualified membership of the Convention will entail. It is expected that South Africa will be excluded from the trade preferences under the Lome Convention. If this is the case, South Africa can negotiate a bilateral agreement to include those aspects that are excluded from its qualified membership of Lome. Almost 77 per cent of South Africa's exports in 1992 entered the Union duty free. In 1993 nearly 80 per cent of South Africa's imports came from the northern member states of the Union, Germany, the United Kingdom, Belgium, Denmark, the Netherlands, Ireland and Luxembourg, while only 20 ver cent came from the southern member states, France, Italy, Spain, Portugal and Greece.

University of Macau / Faculty of Law

M. Tech. Entrepreneurship / This study explored the extent of co-operation between South African and Chinese small and medium-sized businesses. The researcher investigated the existing strategies and co-operation models of successful and unsuccessful Chinese small and medium-sized businesses that engage in business with South African businesses, identified the co-operation approaches followed by both successful and unsuccessful Chinese small and medium-sized businesses and explained the advantages and shortcomings of both successful and unsuccessful Chinese businesses in South Africa.

No description available.

This thesis examines South Africa's relations with the International Monetary Fund (IMF) and private international banks in the period 1970-1987. The thesis is written in the language, and uses the conceptual tools, of 'regulation theory', an approach whose emphasis on 'time-changing' empirically-grounded explanations of a country's global interactions, it is suggested, represents an advance over modernisation and dependency approaches. The thesis traces the altered circumstances of the international financial system since the early 1970s. It points to the struggle by the IMF to come to terms with these changes in harmonising a new international financial system. The IMF has, however, increased its supervisory power in relation to most countries in the developing world, especially after the oil-price hike of 1973. The basis for, and implications of, the explosion in private international bank lending in this period is also examined. This analysis is followed by an examination of the crisis in the South African political economy since the early 1970s and of the way this crisis was influenced by global events. It is argued that South Africa's international economic relations were transformed by both global and domestic forces and came to be dominated by issues of international finance. The second part of the thesis examines South Africa's relations with the IMF and private international banks. This relationship was supportive of the apartheid state's development strategy for most of the period 1970-1985. It is argued that until the 1980s, the relationship also benefited the western industrialised countries who profited both materially and strategically, from their economic relations with South Africa. However, in 1983, the US imposed restrictions on its support for IMF loans to South Africa. By mid-1985 a combination of political and economic changes within South Africa forced some foreign banks to withdraw their normal credit facilities to South Africa. These events precipitated a dramatic change for the worse in South Africa's international financial relations. It is argued that although there has been some improvement in these relations since 1987, the country's relations with the IMF and banks have not returned to their previous mostly supportive character. A combination of international, regional and domestic economic and political factors has ensured that the current crisis in South Africa's international financial relations is already deeper, more prolonged, and more damaging to growth prospects, than the crisis of the mid-1970s. / Thesis (Ph.D.)-University of Natal, Durban, 1989.

No abstract available. / Thesis (M.A.)-University of KwaZulu-Natal, Pietermaritzburg, 2005.

Economic migration has become a global trend. The movement of people and goods within and beyond territorial boundaries is a phenomenon synonymous with the twentieth century. In the Southern African region, migratory processes were accelerated by the 19th century mineral discoveries in the Cape and Transvaal. Mozambique, particularly its southern regions, was drawn into the South African- dominated economy in a service capacity, as the supplier of migrant labour, principally for the Transvaal. The mineral wealth and the development it generated made South Africa the dominant economy in the region, drawing in migrant labour from surrounding states. Today, mining activities and the Transvaal are no longer the main attraction for many Mozambicans who enter South Africa, as they have spread throughout the country since the ending of apartheid. This study is focused on Durban, where a combination of push and pull factors continues to impel Mozambicans to arrive in search of economic opportunities. The majority, who are from the rural areas of the southern provinces, without education and formal qualifications, enter South Africa illegally and without documentation. Migrants use informal networks and the informal sector, as a means of overcoming the various obstacles to entry imposed by the states on both sides of the frontier, and their inability to compete for jobs in the formal sector. Economic and social integration of Mozambicans in Durban has evolved around informality and it can be argued that if the Mozambicans in this study have achieved a certain degree of integration, this has been due to successful mobilization of resources provided by informal networks and the informal sector. Linguistic affinities and geographical proximity also play a significant role in the process. The study looks at various informal economic opportunities exploited by Mozambicans, including an expanding cross border- trade based on high mobility between the two countries. It focuses mainly on the varied ways Mozambicans in Durban achieve a degree of economic and social integration. Literature and debates on international migration and on informality lay a foundation for the approach to the study, which is based on an historical overview of migration between the two states and fieldwork in Durban and southern Mozambique. / Thesis (M.A.)-University of KwaZulu-Natal, Durban, 2008.