Thesis (MComm)--Stellenbosch University, 2013. / ENGLISH ABSTRACT: Recently countries have become more aware of the potential anti-competitive effects of anti-dumping measures. This is mostly due to the view that anti-dumping measures, as trade policy instruments, are at odds with the objectives of competition policy. According to many economic writers the only rational economic justification for anti-dumping measures is predatory dumping as an extreme form of price discrimination. Apart from the dramatic change in the economic justification for the use of anti-dumping measures over the last decades, there has also been a significant change in the countries that implement these measures. Since the Uruguay Round of Multilateral Trade Negotiations there has been a shift from developed countries to developing countries being the main users of these policy tools. In the last couple of years the member countries of the Southern African Customs Union have been under increased pressure by private firms to enable the use of anti-dumping measures on intra-regional goods trade. However, the appropriateness of utilising these measures on intra-regional trade in the context of a custom union has been a contentious issue in recent economic debate. These measures erect trade barriers among the member states which are against the basic premise of a customs union. This has resulted in most economists calling for the prohibition and replacement of anti-dumping measure with either coordinated domestic or harmonised regional competition policies. In developing the regional and national policies on anti-dumping the SACU member states can follow two main stream approaches. The first is the incorporation of various competition principles into anti-dumping rules to limit the negative welfare and anti-competitive effects of utilising anti-dumping measures, while the second is the abolition of anti-dumping measures in the region which is then replaced by competition policy. The option best suited for SACU depends on the differing viewpoints on implementing anti-dumping measures in a customs union. However, irrespective of which policy combination is chosen, regional and national polices and authorities will have to be created, adapted and/or amended in order to have an effective interaction between anti-dumping and competition policies applicable to intra-regional trade. / AFRIKAANSE OPSOMMING: Lande het ontlangs meer bewus geword van die moontlike negatiewe uitwerking wat maatreëls teen storting van goedere in markte kan hê op plaaslike en internasionale mededinging. Dit is hoofsaaklik as gevolg van die siening dat teen-stortingsmaatreëls, as instrumente van handelsbeleid, se doelwitte teenstrydig is met die van mededingingsbeleid. Volgens vele ekonomiese skrywers is die enigste rasionele ekonomiese regverdiging vir teen-stortingsmaatreëls predatoriese storting as ‘n uiterse vorm van prysdiskriminasie. Afgesien van die dramatiese verandering in die ekonomiese regverdiging vir die gebruik van teen-storingsmaatreëls oor die laaste dekades, het daar ook ‘n beduidende verandering plaasgevind in die lande wat hierdie maatreëls om goedere handel implementeer. Sedert die Uruguay Rondte van Multi-laterale Handelsooreenkomste het daar ‘n verskuiwing plaasgevind van ontwikkelde lande na ontwikkellende lande as die belangrikste gebruikers van hierdie beleidsinstrumente. In die laaste paar jaar het private firmas die lidlande van die Suider-Afrikaanse Doeane-Unie onder toenemede druk begin plaas vir die gebruik van teen-storingsmaatreëls op invoere vanaf die res van die streek. Alhoewel, huidiglik is die toepaslikehid van die gebruik van hierdie maatreëls op handel, in die konteks van ‘n doeane-unie, steeds ‘n omstrede kwessie binne ekonomiese dabatte. Hierdie maatreëls rig handelsversperrings tussen lidlande op wat teen die basiese veronderstelling van ‘n doeane-unie is. As gevolg hiervan is die meeste ekonome van die opinie dat teen-storingsmaatreëls vervang moet word met óf gekoördineerde binnelandse of geharmoniseerde streeks- mededingingsbeleid. Die SADU-lidlande kan twee benaderings volg in die ontwikkeling van streeks- en nasionale beleid oor teen-storingsmaatreëls. Die eerste is the insluiting van verskillende mededingingsbeginsels in bepalings wat handel oor teen-storingsmaatreëls om sodoende die moontlike negatiewe gevolge van hierdie maatreëls te beperk. Die tweede opsie is om teen-storingsmaatreëls op streeks-invoere met bededingingsbeleid te vervang. Die mees gepasde opsie sal af hang van die verskillende standpunte rondom die toepaslikheid van teen-stortingsmaatreëls in ‘n doeane-unie. Alhoewel, ongeag die beleidskombinasie wat gekies word sal nasionale en streeks-beleid en owerhede geskep, aangepas en/of gewysig moet word ten einde ‘n effektiewe interaksie tussen teen-storingsmaatreëls en mededingingsbeleid binne SADU te verseker.

Estimates of the value of manufacturing sector output enter into many economic indices, especially those measuring productivity. The South African Central Statistical Services has twice made substantial errors in the output series. Revisions to correct the first of these raised the growth rate in manufacturing over the period 1970-80 from 2,6 per cent per annum (compound) to 5 per cent. This episode is not common knowledge. After examining the conceptual difficulties involved in producing output stimates, a practical technique for detecting errors in the series , the Euler Consistency Test, is presented. Developed, refined, and then applied to the South African data, it predicted, retrospectively, the first set of errors (using only the information available at the time those errors were made), then detected another set of errors , not previously known to exist. The study records the process by which the CSS was made to concede this second error. Acknowledgement only came after protracted correspondence and an examination conducted by a special committee formed to investigate my complaints. With 1979 set equal to 100, the output level in 1988 was originally given as 113,8. After investigation, the CSS raised this to 126,1. The magnitude of this second error is equivalent to the omission of the total output of the two SASOL plants commissioned during the early 1980s. Estimates of productivity growth by the National Productivity Institute using these incorrect figures are shown to have created a misleading picture of the sector's performance, especially in the sensitive debate over the relationship between wage and productivity growth. An attempt is made to lay the groundwork of an analytical framework for comprehending (from a Marxist point of view) the activities of ideological state apparatusses like the NPI. A review of the literature on theory choice is conducted, and the necessarily political nature of this activity is explored. The relative impotence of I science' in the face of ideology in a conflict-ridden society is considered. The question of the significance of disagreements between economists is examined, and prospects for convergence and consensus on certain issues are weighed. / Thesis (Ph.D.)-Unversity of Natal, 1994.

The overall objectives of the study are to analyse the economic impact of HIV/AIDS on income-earning urban households and in so doing to develop a methodology for HIV/AIDS household surveys. The study started with 125 households in the first wave. Of these, 113 households were followed over 4 waves (2), over a 12-month period, and across two cohorts referred to as affected (3) and non-affected (4) households. Data on the household were collected from the financial head (5) using the diary method. The methodology for this study was done after a review of 33 HIV/AIDS economic studies conducted around the world. The study obtained buy-in and support from various stakeholders in government, nongovernment organisations, community, academic and funding institutions as from people living with HIV/AIDS. Due to the comprehensive design of the research instrument, the study is able to draw relationships between the various facets of the household and the possible influence that HIV/AIDS has on them. Methodologically, the study found that there are "hidden" costs of morbidity and mortality that needs to be quantified. The costs of health care and funerals are higher in the affected cohort, as expected, due to the frequency of illness or death and not necessarily because there are cost differences as a result of whether a household member has HIV/AIDS or not. The key finding is that affected households re-organise themselves in terms of household size, composition and structure as well as through transfers in, income from grants and other non-market sources, especially to pay for funeral costs. Surviving members are affected not only socially and economically but also psychologically and the needs of this group should not be ignored. (2) Each visit is referred to as a wave (3) Affected household is a household where at least one person is HIV positive (4) Non-Affected household is a household where the index case is HIV negative and no other members presented with an HIV/AIDS-related symptom (5) The person responsible for the finances in the household. / Thesis (Ph.D.)-University of KwaZulu-Natal, Durban, 2004.

Previous studies by Thomson (1996) and Crookes (2002) in land rental markets of rural KwaZulu-Natal were based on the premise that rental markets brought about efficiency and equity gains. Indeed these gains were proven by econometric analyses in both studies. Poor households that lacked the labour, time and other resources to farm land prior to the introduction of the rental market, tended to leave their arable land idle. In participating in rental transactions, land transferred from these poor households to households with the resources and the willingness to farm; and rental income was earned by the poor households. The current 2003/4 survey sought to evaluate the gains in two new areas, Mhlungwini in the Estcourt District and Duduza in the Bergville District, not covered in previous studies. Institutional interventions, related to the land rental market, in Mhlungwini and Duduza, had started in 2000 and 1993 respectively. Equity and efficiency gains were again proven as Lyne (2004) reports. While Chapter 2 provides an in-depth review of literature related to the theory of economic institutions, Chapter 3 applies this knowledge to Thomson's (1996) pilot project on institutional reform. This project, in terms of its action research that bore the ex ante transaction costs of willing participants, set in motion a process of institutional change leading to the development of the land rental market. The introduction of a formal contract, approved by the tribal authorities, served to give credence to rental transactions. In addition, institutional changes were made to reduce the likelihood of crop damage by stray cattle on arable land, in order to encourage willingness of households to lease in land. Recommendations were made by Thomson (1996) to further increase the exclusivity of arable land property rights. Options were evaluated by the author for institutional reform of communal grazing resources. This is to prevent degradation of grazing land caused by overstocking. Recommendations were made to promote sustainable use of the land. Chapter 4, apart from briefly analyzing the current survey results, provides two comparative studies of institutional reform, the first related to Australian water resources and the second related to land registration experiences in Africa. The last section of the Chapter evaluates a proposal for introduction of formal financial services to rural farmers. / Thesis (M.A.)-University of KwaZulu-Natal, Pietermaritzburg, 2005.

Moll (1991) has criticised the proposal that demand restructuring should act as the impetus for economic growth in a post-apartheid South Africa on the grounds of, a lack of empirical support. The demand restructuring thesis is premised on two empirically testable assertions: firstly that realisable economies of scale are greater in labour-intensive wage goods sectors than in luxury goods and secondly that in manufacturing as a whole labour can easily substitute for capital. While a number of studies employing either the Cobb-Douglas (Cobb & Douglas, 1948) or Constant Elasticity of Substitution (CES) ( Arrow, Chenery, Minhas & Solow, 1961) functions have attempted to quantify these features of technology, their conclusions are potentially invalid. Both functions impose the maintained hypotheses of homotheticity, homogeneity and seperability a priori. As primary hypothesis tests regarding the magnitude of parameters depend on the validity of both the hypothesis being tested and the underlying maintained hypotheses, the plausibility of maintained hypotheses is an important consideration when choosing a functional form for econometric analysis. Homotheticity and homogeneity constrain the theoretical determinants of economies of scale and seperability. The theoretical determinants of substitution thus limit the contexts in which functions which embody these hypotheses are likely to be appropriate. The mathematical concept of duality has permitted the development of flexible, general functions, such as the Transcendental Logarithmic Cost Function (Christensen, Jorgensen and Lau, 1971, 1973), which rather than imposing, permits the testing of the most commonly imposed maintained hypotheses. By applying this function to three sub-sectors of South African manufacturing both the validity of the commonly imposed maintained hypotheses and the empirical premises of the demand restructuring position are assessed in this dissertation. This application indicates that not only are the hypotheses of homotheticity, homogeneity and seperability invalid but that the inappropriate imposition of homotheticity, homogeneity and seperability invalid but that the inappropriate imposition of homotheticity biases estimates of scale downwards. Evidence also emerges to challenge Moll's (1991) assertions regarding the empirical validity of demand restructuring. / Thesis (M.Com.)-University of Natal, Durban, 1995.

Until recently it was fashionable to describe Durban as one of the fastest growing cities in the world. For those who held this view, the proliferation of informal settlements in and around the city pointed to massive rural-urban in-migration from the rural areas. Migration, itself, it was conceived, was typically the outcome of a direct move from the rural areas, whereby the migrant simply arrived in the city and took to squatting on any available land he or she could find. In actuality, while research has pointed out that substantial rural-urban in-migration is indeed a feature of the urban landscape, little light has been shed on the extent and nature of such migration. The aim of this dissertation is therefore to elucidate on these two features of the migration phenomenon. Through the application of the Todaro model of migration it is hoped that an understanding of the driving force behind migration to and within the Durban Functional Region could also be achieved. / Thesis (M.Com.)-University of Natal, Durban, 1994.

No abstract available. / Thesis (M.Com.)-University of Durban-Westville, 1984.

The aim of this dissertation is to estimate the value of water in the commercial forestry in selected areas of Kwazulu-Natal. Furthermore, the essay focuses on two species:Eucalyptus grandis and Pinus patula. The estimation of the value of water is done using two types of water and they are evapo-transpiration (ET) and stream flow reduction (SFR). ET water is used because it has been discovered that there is a loss of water due to afforestation. On the other hand, SFR water is used because the existence of trees means that the water that is supposed to flow to the streams does not, as it is absorbed by the trees. Moreover, the essay develops two methods that can be used to estimate these two types of water in the commercial forestry. The methods are the residual method and the marginal value product (MVP) method. In the case of the residual method, the results are diverse. This means that the values of water for eucalyptus using the ET water, ranges from 05 cents to 23 cents. With the pinus patula, the values of water ranges from 01 cents to 03 cents. This is clear that the value of water for eucalyptus grandis using the ET water is higher than the pinus patula. The value of water using the MVP method using the ET water is decreasing. This means that the values of water starts from higher values to the lowest. This is due to the fact that we are estimating the marginal product. The values start from 72 cents and go down to 28 cents in the case of eucalyptus grandis. The values for the pinus patula start from 26 cents and go down to 12 cents. When estimating the value of water using SFR water, we do not use the residual method. We use the MVP method instead. The values obtained show that eucalyptus grandis values are higher than those of the pinus patula. They start from R5.1 0 cents and go down to R2.77 cents for eucalyptus grandis and from R2.39 to R1.03 for pinus patula. The methods used show that the economies of scale are present, because when we add more water, the value falls. Furthermore, The law of diminishing marginal retums is present because when we add more water; the values reach a maximum point and then start to fall. These two factors comply with the economic theory. / Thesis (M.Com.)-University of Natal, Durban, 2002.

Thesis (Master of Military Studies)-Marine Corps Command and Staff College, 2005. / Title from title page of PDF document (viewed on: Jan 6, 2010). "CSC 2005" "Subject Area Topical Issues" Includes bibliographical references.

Thesis (PhD (Economics))--University of Stellenbosch, 2008. / The primary financial objective of a firm is the maximisation of its shareholders’ value. A problem faced by the shareholders of a firm is that it is difficult to determine the effect of management decisions on the future share returns of the firm. Furthermore, it may be necessary to implement certain monitoring costs to ensure that management is focused on achieving this objective. A firm would, therefore, benefit from being able to identify those financial performance measures that are able to link the financial performance of the firm to its share returns. Implementing such a financial performance measure in the valuation and reward systems of a firm should ensure that management is aligned with the objective of shareholder value maximisation, and rewarded for achieving it. A large number of traditional financial performance measures have been developed. These measures are often criticised for excluding a firm’s cost of capital, and are considered inappropriate to be used when evaluating value creation. Furthermore, it is argued that these measures are based on accounting information, which could be distorted by Generally Accepted Accounting Practice (GAAP). Studies investigating the relationship between these measures and share returns also provide conflicting results. As a result of the perceived limitations of traditional measures, value based financial performance measures were developed. The major difference between the traditional and value based measures is that the value based measures include a firm’s cost of capital in their calculation. They also attempt to remove some of the accounting distortions resulting from GAAP. Proponents of the value based measures present these measures as a major improvement over the traditional financial performance measures and report high levels of correlation between the measures and share returns. A number of studies containing contradictory results have been published. On the basis of these conflicting results it is not clear whether the value based measures are able to outperform the traditional financial performance measures in explaining share returns. The primary objectives of this study are thus to: • Determine the relationship between the traditional measures earnings before extraordinary items (EBEI) and cash from operations (CFO), and shareholder value creation; • Investigate the value based measures residual income (RI), economic value added (EVA), cash value added (CVA) and cash flow return on investments (CFROI), and to determine their relationship with the creation of shareholder value; • Evaluate the incremental information content of the value based measures above the traditional measures. The information content of the traditional measures and the value based measures are evaluated by employing an approach developed by Biddle, Bowen and Wallace (1997). The first phase of this approach entails the evaluation of the relative information content of the various measures in order to determine which measure explains the largest portion of a firm’s market-adjusted share returns. The second phase consists of an evaluation of the incremental information content of the components of a measure in order to determine whether the inclusion of an additional component contributes statistically significant additional information beyond that contained in the other components. The study is conducted for South African industrial firms listed on the Johannesburg Securities Exchange for the period 1991 to 2005. The data required to calculate the measures investigated in the study are obtained from the McGregor BFA database. This database contains annual standardised financial statements for listed and delisted South African firms. It also contains EVA, cost of capital and invested capital amounts for those firms listed at the end of the research period. Including only these listed firms in the research sample would expose the study to a survivorship bias. Hence these values are estimated for those firms that delisted during the period under review by employing a similar approach to the one used in the database. The resulting sample consists of 364 firms providing 3181 complete observations. Since different information is required to calculate the various measures included in the study, different samples are compiled from this initial sample and included in the tests conducted to evaluate the information content of the measures. The results of this study indicate that the value based measures are not able to outperform EBEI in the majority of the relative information content tests. Furthermore, the measures EVA, CVA and CFROI are also not able to outperform the relatively simple value based measure RI. The results from the incremental information content tests indicate that although some of the components of the value based measures provide statistically significant incremental information content, the level of significance for these relatively complex adjustments is generally low. Based on these results, the claims made by the proponents of the value based measures cannot be supported. Furthermore, if a firm intends to incorporate its cost of capital in its financial performance measures, the measure RI provides most of the benefits contained in the other more complex value based measures.