Submitted in partial fulfilment of the requirements for the Master of Management in Public Policy University of the Witwatersrand School of Governance / The research explores the socio-economic causes of Medupi Power Station on Lephalale. The mineral-energy outlook of Lephalale is attractive to the global players whilst the Lephalale Local Municipality’s authority is proving to be limited over the area. The knowledge of the community is outshined by the global players eager to invest. The “positivist approach” in public policy leads some to consider markets as the most effective means for social decisions, hence a reliance on Eskom’s corporate investments to offset damages. The idea seamlessly adjoins the “post-positivist approach” which acknowledges the vital role of conflict and political actors in the public policy arena. Any policy process is an outcome of both the “positivist and the post-positivist approach” (Howlett, Ramesh & Perl (2009). Eskom’s corporate social responsibility/investment is inadequate to address the socio-economically and ecologically-subjugated communities, which occasionally resort to violent protest. A balance between profit and social needs is unavoidable. Leadership should ensure that the policies and practice safeguard the interest of future generations. This qualitative research employs documents and interviews to describe Medupi’s socio-economic factors on Lephalale. The Lephalale Local Municipality, political parties, and the Lephalale Library are key participants. / XL2019

A research report submitted to the Faculty of Commerce, Law and Management, University of the Witwatersrand, in partial fulfillment of the requirements for the degree of Master of Management specialising in Entrepreneurship and New Venture Creation Johannesburg, 2018 / Public Enterprise Development has been applied by government to stimulate the growth of SMMEs, which are identified as a key to job creation and local economic development. This report examines the impact of public enterprise development through provision of funding by Gauteng Enterprise Development (GEP) to SMMEs in Gauteng. The research examines data on SMMEs that received Enterprise Development funding between the period of 1st April 2006 and 31st of March 2016 from GEP in the Gauteng province. The data was analysed from June 2016 with the focus on the growth in turnover and employment figures prior to and after the SMMEs participated in the GEP support program. This paper uses a quantitative research approach and positive paradigm is assumed. Also, a quasi-experimental research study is used similar to a prior study by Leeuw (2010), with a t-test to measure the growth. This implies that funding, as an aspect of public enterprise development, has a positive influence on the sales and employment growth of SMMEs which in turn has implied positive effect on local economic development (LED) in Gauteng. The results from this study showed that the number of employees increased by an average of 13 employees per company after the GEP intervention from the original average of 8 employees before the awarding of the loan. However, the data analysis of the t-test summary statistics provide sufficient evidence that Hypothesis 1: A positive direct correlation exists between finance provision and growth in employment of SMMEs, is not supported. The difference in the number of employees is not statistically significant since the p-value of the t-test (p-value = 0.095) is greater than 0.05. Thus, the null hypothesis is not rejected and it is concluded that there is no correlation between provision of finance and growth in employment of SMMEs. Hypothesis 2: A positive direct correlation exists between finance provision and growth in turnover of SMMEs, the cross tabulation showed that there was an increase in the turnover earned. It is thus, concluded that there is a positive direct correlation between the provision of finance and the growth in turnover of SMMEs. / MT 2018

Albeit in its infancy, South Africa’s LED practice is a benchmark of a large number of African countries in general and Sub-Saharan African countries in particular. The LED practice stands out, for widespread decentralisation of powers, massive and growing LED budgets, robust legal frameworks that govern its implementation and development of LED structures, amongst others. This study seeks to answer three critical questions: What theoretical LED facets (particular aspects) are available in literature? Are these facets being implemented in Nelson Mandela Bay Municipality (NMBM) and Buffalo City Metropolitan Municipality (BCMM)? Besides the effort and monies invested in ingraining LED in South Africa, are the levels of LED practices of the two municipalities deeply embedded in literature? The study utilises a purpose-built tool to measure the level at which LED practice of respective municipalities is ingrained in LED literature. The thesis employed both qualitative and quantitative research methods in order to provide scientifically adequate answers to this research. The former method was employed in identifying available LED facets while, the latter was useful in measuring the level at which LED practice in the two metros is embedded in LED theory. The research findings reveal presence of 6 LED facets, namely, enterprise development, locality development, livelihoods development, workforce development, community development and LED Governance. However, this study discovered that the aforementioned facets fail to cover other general items like the availability or unavailability of LED strategy, functional location of LED within municipal directorates and availability of a budget to drive the LED functions. In light of this, the researcher decided to group all the other key LED functions that he felt were not finding expression under the 6 facets identified in LED literature. This, then, led to the introduction of “General LED” facets. This facet, besides presenting a pre-cursor to the 6 other facets, manages to capture some key factors that are equally behind the success or failure of LED e.g. the LED strategy factor, a factor which a number of sources name “The heart” or “guiding compass” of successful LED implementation. The “General LED” facet contained other factors like: other plans that aided LED, experience of LED practitioners, budget allocation of the LED function, amongst others. The research found that all the 7 facets are being implemented in both municipalities, albeit to varying degrees. The two metropolitan municipalities’ LED practice, with respect to all the identified LED facets, provided some measure of their respective levels of embeddedness in LED theory using a purpose built tool. The embedded (ness) outcome proved that Nelson Mandela Bay Municipality’s LED practice was embedded in the LED theory across all the 7 facets, namely: general LED, enterprise development, locality development, community development, livelihood development, workforce development, and LED governance. The same analysis proved that Buffalo City Metropolitan Municipality’s LED practice was embedded in LED theory in all the other facets bar community development. The survey results revealed that there are inadequate or limited initiatives in Buffalo.

Thesis (MDF)--Stellenbosch University, 2014. / ENGLISH ABSTRACT: The South African financial sector is developed by world standards, surpassing those of other emerging and developed countries. However, despite all this development in the financial sector, the country has low levels of savings. This contradicts some of the available literature which explains the link between financial development and savings. Based on this background, the study empirically examines the relationship between financial development and savings mobilization in South Africa, employing the Johansen cointegration test for the period 1980 to 2012. Based on the lifecycle hypothesis, a model linking savings and its determinants was specified. The empirical results revealed that there is a long-term relationship between savings and the other variables used in the model. The different measures which were employed to measure financial development were found to be positive and significant, implying that financial sector development impacts positively on savings. An interesting observation from the empirical results is the negative relationship between the rate of interest and savings which implies that South Africans are net borrowers as the income effect surpasses the substitution effect. This in part explains the low levels of savings being experienced by the country since an increase in the rate of interest results in people paying more to service their debt and hence a reduction in savings.

Thesis (PhDAgric) -- Stellenbosch University, 2006. / ENGLISH ABSTRACT: This dissertation is a sojourn into institutional economics and its application to contemporary economic and development issues in South Africa. Economic development initiatives in agribusiness have much to gain from the theories and approaches advanced by the new institutional economics. Institutions are considered essential to the functioning of economies, markets and organizations, despite its neglect in neoclassical economics The study intends to prove that 'institutions matter', especially when social and economic transformation is necessary. The cases studied exhibit how institutions matter and shape economic outcomes. The theoretical basis established in this thesis was applied to economic development challenges such as contracting, organizational innovation, economic empowerment, land reform, building social capital, organizational design, supply chain management, entrepreneurial development, and modes of constructive engagement. The thesis is a compilation of academic papers applied to the various selected developmental challenges prevalent in South African agriculture. The study begins by delving into the more popular New Institutional Economics literature and specifically transaction cost economics. Somewhat unexpectedly, this leads to a greater appreciation for the insights generated by the Old Institutionalists in investigating the nature of institutions. Hence, the old institutional economics gains prominence in the latter part of this work, contrary to contemporary approaches followed in agricultural economics. The acknowledgement given to aspects like social capital and embeddedness is consistent with Williamson's proposed framework for the economics of institutions and this is used as the conceptual framework in this thesis. Whereas the new institutional economics was found to be useful in yielding knowledge through analysis and remediable outcomes, the old institutional economics retains its advantage in promoting understanding of problems especially in the face of complexity. This inclination has influenced the thesis in two ways. First, it diverted the latter part of the work towards the old institutional economics and the role of social capital in shaping institutions and economic behaviour. Second, it reverts to theories on the nature of the firm that complements the transaction cost approach. The transaction costs approach is thus only used where it is found most effective i.e. analysing vertical integration between firms and the relevant ex ante incentives and the ex post governance aspects Most studies are motivated by a general recognition of the role of institutions in framing economic outcomes and end up in the new institutional economics and subsequently transactions cost economics. This favouring of the transaction cost approach has found appeal due to its ability to predict structural and organisational outcomes such as the efficient boundaries of firms, internal organisation, contractual relations, incentives, etc. Methodologically, it enables analysts to employ the empirical and mathematical rigour that has become a feature, but too often the purpose, of economic research. Three papers are devoted to this approach and elicit organisational designs that best contend with identified transaction costs. The study confirms that several aspects matter in institutional analysis when applied in an economic developmental context such as South Africa. Historical context is acknowledged as a critical facet of institutional analyses in the sense that institutions are shaped by the forces of history. Social capital is established as an important component of institutional economic analysis and particularly relevant in situations where social capital has been eroded by political economic manipulations. Attending to social capital require (inter alia) insight into the nature of the societal context, implied path dependency, the extent of trust, enforcement mechanisms, and agency relations. Three of the papers attend to these aspects. / AFRIKAANSE OPSOMMING: Die proefskrif bevat 'n toepassing van institusionele ekonomie op kontemporere ekonomiese- en ontwikkelingskwessies in Suid Afrika. Die nuwe institusionele ekonomie het veel te hied tot ekonomiese ontwikkelingsinisiatiewe vera! in agribesigheid. Institusies word beskou as essentieel tot die funksionering van die ekonomie, markte en organisasies, ongeag, die nalaat daarvan in die neoklassieke ekonomie. Die studie poog om te bewys dat 'institusies geld', vera! wanneer sosiale en ekonomiese transformasie noodsaaklik is. Die teoretiese basis wat gevestig is in die proefskrif, vind toepassing op ekonomiese ontwikkelingsuitdagings wat insluit kontraktering, organisatoriese innovasie, ekonomiese bemagtiging, grondhervorming, bou van sosiale kapitaal, organisatoriese ontwerp, waardeketting bestuur, entrepreneurskap ontwikkeling, en modes vir konstruktiewe omgang. Die studie begin met teoretiese 'n ondersoek in die meer populere nuwe institusionele ekonomiese literatuur, en spesifiek transaksie koste ekonomie. Dit lei later tot 'n onverwagse waardering vir die insigting wat die ou institusionele ekonomie genereer, wanneer die aard van institusies bestudeer word. Gevolglik, verkry die ou institusionele ekonomie prominensie in die latere deel van die studie, in teenstelling met die landbou ekonomiese benaderings wat deesdae bespeur word. Die erkenning aan sosiale kapitaal en institusionele ingeworteldheid is in tred Williamson se voorgestelde raamwerk vir die ekonomie van institusies is word gebruik as die konseptuele raamwerk in die tesis. Waar die nuwe institusionele ekonomie nuttig is in die werwing van kennis, is die ou institusionele ekonomie nuttig in die kweek van insig en verstaan van probleme en kompleksiteit. Die proefskrifword op twee maniere hierdeur beinvloed. Eerstens, leun die latere deel van die werk meer na die ou institusionele ekonomie en die rol van sosiale kapitaal in die vorming van institusies en ekonomiese gedrag. Tweedens, verskaf dit 'n fokus op die teoriee oor die aard van die firma wat komplimenter staan tot transaksie koste ekonomie. Die transaksie koste benadering word aangewend in die ontleding van vertikale integrasie tussen firmas en die relevante ex ante insentiewe en ex post strukture, waar dit vera! nuttig is. Meeste studies erken die invloed van institusies op ekomiese uitkomste en gebruik hoofsaaklik die nuwe institusionele ekonomie en transaksie koste ekonomie. Hierdie vooroordeel ten opsigte van transaksie koste ekonomie, vind byval as gevolg van die vermoe om strukturele en organisatoriese uitkomstes te voorspel soos die doeltreffendheidsdrumpel van firmas, interne orgasnisasie, kontrakte, insentiewe, ens. Metodologies, moedig dit empiriese en wiskundige benaderings tot ontleding aan, wat ongelukkig a! die doe! geword het in vele ekonomiese ondersoeke. Drie van die referate wat in die proefskrif vervat word, behels die identifisering van toepaslike organisatoriese ontwerpe wat geskoei is op die transaksie kostes wat geldentifieer is. Die studie bevestig dat sekere aspekte van belang is in institusionele ondersoeke, vera! in 'n ekonomiese ontwikkelingskonteks soos Suid Afrika. Historiese konteks, word erken as a kritieke faktor in institusionele ontledings, in die sin dat institusies onontbeerlik deur geskiedkundige kragte gevorm word. Sosiale kapitaal word ook erken as 'n belangrike komponent in institusionele ekonomiese ontledings, vera! in omstandighede waar sosiale kapitaal verweer het as gevolg van polities ekonomiese manipulasies. Dit veries dat aandag geskenk work aan, ( onder and ere) sosiale konteks, gelmpliseerde koers afhanklikheid, vertoue, afdwingbare meganismes, en agentskap verhoudings. Drie van die referate word hieraan gewy.

D.Comm. / This thesis endeavoured to assess whether the government can simultaneously achieve the objectives of sustained economic growth, income redistribution and fiscal discipline, as stated in the Growth, Employment and Redistribution (GEAR) policy. The simultaneous realisation of these objectives of the GEAR policy brings about controversies between the South African government and other interest groups, such as the trade unions and some academics. Empirical analysis such as econometrics and computerised general equilibrium (hereafter referred to as CGE) techniques were used in an attempt to solve the research question. The Kalman filter technique was applied to model total factor productivity and to establish the link between social services expenditure and economic growth in South Africa. The structural vector autoregressive (SVAR) technique was applied to assess the dynamics of fiscal shocks on output growth and determine the type of taxes that are distortionary in financing the increase in social services expenditure. The study’s main contribution is the application of the CGE technique to assess whether the above three objectives can be reached simultaneously. A new CGE model was built, based on the standard CGE model by Thurlow and Van Seventer (2002). In the new CGE model, some taxes were changed to endogenous variables instead of exogenous variables or parameters as in the standard model. The model introduced a number of government macro closure rules to clear the government balance. The research lead to the following conclusion: When constraints on employment are removed across all the labour categories in South Africa, and the government uses compositional shift of its expenditure to finance the continual increase in social services expenditure, the three objectives, namely fair redistribution of iv income, fiscal discipline and sustained economic growth, will be reached simultaneously. It is recommended that the government fix conditions in the labour market to remove impediments to employment in South Africa (such as lack of appropriate skills for specific activities), as this will enable the government to achieve most of its objectives.

M.A. / All countries compete to attract a larger share of FDI inflows. Developing countries, especially in Africa, receive a relatively small share of FDI inflow. Furthermore, the FDI inflows that Africa receives are concentrated in a small number of countries. While FDI is regarded as the engine for growth, some studies have even shown a weak and unstable relationship between FDI and growth in Africa, with wide variations between African countries. Against this backdrop, this study aims to determine why developing countries benefit differently from FDI. To achieve this aim, a comparative case study between South Africa and Kenya was conducted. This study focused on the institutions responsible for providing linkage support to both new and existing foreign direct investors in South Africa and Kenya. It argues that institutions assist countries to adopt and absorb technologies introduced in domestic economies by foreign investors. In this light, the research attempted to compare the best practice to actual practice of the institutions in South Africa and Kenya. At the end of the research process, it was discovered that even though South African institutions have challenges, they perform better than their Kenyan counterparts because they are well-funded and receive strong support from the South African government.

M.Comm. / This study investigates the extent to which South African financial markets are globalised and thus, during the period 1994–2008, integrated with global financial markets. The impact of globalisation on the South African economy is complex. South Africa re-entered the international economy from isolation at a time when the forces of globalisation, especially for developing countries, seemed to gain momentum. The following study focus on equity, foreign exchange and bond markets. The period under study is divided between 1994-2008 and 2000-2008, with the exception of the bond market where the data was challenging to source. Empirical evidence suggests that South African financial markets together with those in emerging economies became increasingly globalised during the period 1994–2008. Analysis finds that South Africa’s equity markets were integrated as common/global factors influenced the markets during the period 1994-2008. According to the findings, SA was even more integrated than the average emerging economies in our sample as global/common factors influenced more of SA equity returns than in emerging economies. However, in general, developed economies were more globalised in both periods under study. However, analysis indicates that common factors play a larger role in determining the fluctuations in the foreign exchange market rather than in equity markets. This implies that foreign exchange markets are more globalised and integrated than equity markets. Global factors only determined 48% of the movement South Africa’s currency during the period 1994-2008, while global factors were more significant in the movement of developed and emerging economies’ currencies during the same period. However, SA foreign exchange market’s integration into the global markets increased with 2000-2008 variance share increasing to 0.97, implying that global factor were responsible the 97% of the variation in the exchange rate – higher than the average variance share recorded for developed and emerging economies. Finally, results for the bond markets show that SA bond market was also closely integrated with global markets although the level of integration was less than that recorded in the foreign exchange rate markets during the 2000-2008.

M.Com. (Economic Development and Policy Issues) / There is an observable correlation, over time, between domestic savings rates and GDP growth rates: countries with relatively high savings rates over time also enjoying comparably high GDP growth rates. Aggregate saving in South Africa has been in decline and, currently, is at a historic low. Unflattering comparisons between South Africa and faster-growing emerging market economies have led to suggestions that South Africa's low domestic savings rate poses a constraint on the country's ability to grow faster. While the literature, both international and domestic, is relatively rich in studies on the determinants of foreign direct investment as well as the determinants of savings, none of the work done on South Africa has made use of disaggregated savings data to understand whether there is an observable difference in the marginal propensity to save of these economic sectors. In order to successfully raise the level of saving, much more focus needs to be applied to whether there is a difference in the relationship between growth and the components of aggregate saving i.e. which „source‟ of saving if any would yield the greatest impact on GDP and therefore should be encouraged from a policy point of view. The results of the econometric analysis demonstrate that the greatest responsiveness of savings to GDP growth occurs amongst corporates. Since corporates have a choice between retaining earnings and distributing earning as dividends (thus increasing household income) it is clear that tax-rates are an important lever through which government can encourage savings. In essence, a greater level of savings may be achievable if corporates are encouraged to retain earnings, rather than distribute these as dividends to the household sector which has exhibited a relatively weak propensity to save.

Thesis (M.Urban Design)--University of the Witwatersrand, Faculty of Engineering and the Built Environment, 2016. / The role of urban form in facilitating local entrepreneurial driven equitable economic development in a disparate university town in South Africa.The point of departure of this research report is the persistent economic disparity and inequality in South Africa. Twenty two years after the advent of democracy, much of the population continues to live in poverty with a limited ability to improve their lives, as the gap between rich and poor grows larger. [No abstract provided. Information taken from introduction]. / GR2017