Masters Degrees (Economics)

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Agricultural cooperatives as strategy for rural development in Rwanda: a case study of COVEPAR.
(2005) Uwantege, Emma-Carine.; Tenza, Themba.
When agricultural cooperatives are very well organized and implemented with sufficient means and committed people, then they can help to achieve rural development. COVEPAR- Cooperative for Valorization and Exportation of Rwandan Agricultural Products- created by local people of Butare Province in October 2001, aimed to participate in the process of poverty reduction in rural areas by increasing the value and exportation of Rwandan products. The main hypothesis of the research was that COVEPAR allows for diversification of individual farmers' income and increases markets for the members. This study was undertaken in order to see the contribution of COVEPAR in achieving solutions for problems of agriculture in general and farmers in particular. Particularly, the focus was on its contribution in poverty reduction in Butare Province. The results of this research showed that in two years of activities (having started its activities in April 2003) COVEPAR has managed to introduce a new cash crop (chilli pepper) in Rwanda in general and in Butare in particular. Also, farmers who used to sell their production at local markets are now selling at international markets through COVEPAR. However, they are still complaining about the price at which COVEPAR buys their production. Cassava, an old food crop in Rwanda, is also one of the two products that COVEPAR is interested in. The experience of COVEPAR showed that it is also revenue generating at international market (European market). This is real when cassava is transformed into good quality cassava flour or starch. The research also showed that COVEPAR participates in agriculture intensification. It is the second source of modem inputs for its members not taking into consideration household residues. It also sensitises its members to use modem inputs and agricultural techniques through PEARL Project agronomists, one of its main supporter projects. About the addition of value, COVEPAR processed cassava roots into cassava flour and obtained 12 tons that in turn were sold on the European market. However, this cassava had not come from associations. COVEPAR had bought it at short notice from any producer who was selling, because it was an urgent situation of exploring the European market's response to their product. Fortunately, the European buyers approved the product and guaranteed the market. At present, COVEPAR is constructing a modern transformation unit that will help to obtain good quality cassava flour, ready for export, in Butare Province. It is also in the stage of sensitising its members to cultivate improved seedlings of cassava in order to obtain high production. So, as the market is already identified, the additional value process will continue. In future production the focus will be mainly on cassava roots obtained from its members. For chilli pepper, COVEPAR sells a non-finished product. The chilli pepper is only put it into packages after it is thoroughly dried and sorted. However, members of the chilli pepper associations have improved their lives more than that of the cassava associations. Apart from buying food and clothes like cassava associations, they have also covered other important needs like buying livestock, bicycles, new farms, new house, etc. COVEPAR has also contributed to job creation in Butare Province. Although the achievements have been many in the relatively short period of two years, COVEPAR is also facing many problems. It is inadequately organized with some very important institutions such as general assembly, board of management and auditors still being absent from its managerial structure. Also, it has lack of financial capital that puts it in the unfortunate situation of bringing about misunderstanding with members because of delays in payments. The other problems are poor communication and collaboration with members. In addition, COVEPAR works with a lot of associations that are more than its financial and technical means can afford. Therefore, if these shortcomings are not corrected as soon as possible, COVEPAR objectives will not be reached and it will inevitably share the same fate as other cooperatives that have existed and failed in Rwanda.
An analysis of alternate consumption hypotheses in South Africa.
(1996) Govinden, Marylla G.; Contogiannis, Eleftherios.
The first half of this research is an attempt to provide a solid theoretical foundation of the various theories of the consumption function and the empirical evidence. Both the theoretical foundation and the empirical evidence is wide-ranging, spanning a period of over fifty years, with a discussion on the early Keynesian consumption function through to the influence of the rational expectations approach to economic modelling. The emphasis is both on the macro as well as micro aspects of the consumption function. The second half of this research considers the nature of the consumption function in South Africa. This is done with the application of time-series data to three particular models that could provide some insight, and answer certain broad questions about the behaviour of consumption in South Africa. More specifically this is achieved through disaggregation by considering demand functions for specific items of consumption.
An analysis of bank competition and financial stability: evidence from the South African banking sector.
(2021) Vilakazi, Mzamo Perceviere.; Muzindutsi, Paul-Francois.; Meyiwa, Ayanda.
There is a crucial role that the banking in terms of play and serve as central to the economy. Thus, competition is vital to the banking industry. However, while competition is perceived to be vital to the banking industry, it is claimed to have both positive and negative implications on the financial stability of banks. This study investigated the link between bank competition and financial stability in South Africa. The study utilized panel regression to examine the associations between different measures of bank competition and financial stability for the major five banks over the sample period spinning from 2009 to 2019. This study employed three different models namely, the Boone indicator, Lerner index, and fluctuating H-statistics to test for bank competition theories. The study further investigated the level of competition in the South African banking sector by unpacking the concept of concentration in the South African banking sector, using Concentration Ratios (CR) and Herfindahl-Hirschman Index (HHI). The study used the Z-score and profitability as dependent variables to proxy for financial stability in the banking sector. The economic activity and the bank size were used as the control variables in the competition and stability models to account for any uncounted variables. The findings indicated that less competition in the banking market causes banks to engage in risky activities, face regulatory intervention, or, worse, fail, consistent with the competition stability hypothesis. Furthermore, more competition and access to related financial services can be applauded to produce a competing environment in the South African banking services industry. Overall, this study concluded by supporting that more competition enhances financial stability.
An analysis of export support measures with special reference to South Africa, and the impact of the general export incentive scheme.
(1996) Gouws, Andre.; Holden, Merle Gwendoline.
South Africa, in common with many other developing countries, embarked on an import substitution policy to promote development and industrialisation. Although initially successful, it was recognised in the late 1960s that the scope for further import substitution was limited and that alternative development strategies should be embarked upon. Unfortunately, the years of import substitution resulted in high levels of protection and consequently an anti-export bias. In 1972, under the leadership of Dr Reynders, a commission found that South Africa should embark upon a policy of export promotion. In 1980 a new form of export incentive was introduced, viz. Category A and B. Category A incentives were aimed at neutralising the effects of import substitution and compensated exporters fifty per cent of the duty payable on inputs, regardless of whether the inputs were imported or not. Category B incentives compensated exporters for the consequences of cost increasing on non-intermediate inputs because of the import substitution policy and was calculated on the value added. Exporters also enjoyed various grants and tax breaks to enable them to undertake export marketing. The schemes were unsuccessful and were replace by a General Export Incentive Scheme (GElS) in 1990. The main aim of the GElS was to encourage the export of manufactured products. With the means of an econometric model, the success of GElS is evaluated on a sectoral basis. GElS brought with it rent seeking, corruption, lobbying, and threats of countervailing duties. In addition to the enormous costs, exceeding R6 billion, there were other bureaucratic costs. In general, the GElS was not successful. The sectors that did benefit from receiving GElS benefits were the tobacco industry, footwear, furniture, metal products, and electrical machinery. In most cases, exporters would have exported with or without GElS. GElS was simply a windfall. Policy-makers failed to recognise the dynamics of exporting. GElS contributed neither to additional exports, export capacity nor to a sustained competitive advantage. import substitution policy to promote development and industrialisation. Although initially successful, it was recognised in the late 1960s that the scope for further import substitution was limited and that alternative development strategies should be embarked upon. Unfortunately, the years of import substitution resulted in high levels of protection and consequently an anti-export bias. In 1972, under the leadership of Dr Reynders, a commission found that South Africa should embark upon a policy of export promotion. In 1980 a new form of export incentive was introduced, viz. Category A and B. Category A incentives were aim.ed at neutralising the effects of import substitution and compensated exporters fifty per cent of the duty payable on inputs, regardless of whether the inputs were imported or not. Category B incentives compensated exporters for the consequences of cost increasing on non-intermediate inputs because of the import substitution policy and was calculated on the value added. Exporters also enjoyed various grants and tax breaks to enable them to undertake export marketing. The schemes were unsuccessful and were replace by a General Export Incentive Scheme (GElS) in 1990. The main aim of the GElS was to encourage the export of manufactured products. With the means of an econometric model, the success of GElS is evaluated on a sectoral basis. GElS brought with it rent seeking, corruption, lobbying, and threats of countervailing duties. In addition to the enormous costs, exceeding R6 billion, there were other bureaucratic costs. In general, the GElS was not successful. The sectors that did benefit from receiving GElS benefits were the tobacco industry, footwear, furniture, metal products, and electrical machinery. In most cases, exporters would have exported with or without GElS. GElS was simply a windfall. Policy-makers failed to recognise the dynamics of exporting. GElS contributed neither to additional exports, export capacity nor to a sustained competitive advantage.
An analysis of household and government spending on education in South Africa.
(2021) Sejake, Alice Tlalane.; Muller, Colette Lynn.
Education is one of the largest components of government spending across developing and developed countries. Differences in spending on education are often cited as the key contributors to achievement gaps between countries and individuals in the same country. In South Africa, education has been central to government’s socio-economic redistributive policies following the end of apartheid. The problem of insufficient funding particularly for higher education combined with a high demand for education have led to shared costs between households and government. To this effect, the study analyses the relative roles of spending across schooling levels between households and the government. The study further examines attendance and expenditure pattens on education between private and public institutions. Using household level data from the South African Living Conditions Survey 2014/2015, Tobit regressions using a number of household characteristics (such as the gender of the household head, their employment status, population group, level of education, the number of children attending and settlement type of the household) are estimated to examine if and to what degree the determinants of educational expenditure differ by income groups. In addition, income elasticities of education spending are calculated to determine the sensitivity of household’s spending to changes in income. The results show that spending of richer households on education is likely to be more sensitive to changes in household income than poorer households.
An analysis of money demand stability in Rwanda.
(2005) Sayinzoga, Aussi.; Simson, Richard Andrew.
A stable money demand function and exogeneity of prices is at the core of planning and implementing a monetary policy of monetary targets. This thesis examines both the stability of M2 money demand and price exogeneity in Rwanda for the years 1980 to 2000. We estimate and test the elasticities of the determinants of Rwandan money demand function. We include in this demand function those variables which economic theory indicates must be part of any empirical investigation of money demand. All coefficients had the signs as required by economic theory. We estimate the money demand function for Rwanda using cointegration analysis and an error correction mechanism. The results show real income, prices and M2 to be cointegrated. We employ three tests to show that the estimated demand function for Rwanda is stable. We then test the second requirement for coherence in monetary aggregate targeting that money determines prices. The results show that prices are exogenous to money. But before we can definitely conclude that an inflation targeting regime is feasible from monetary policy perspective, we point out that future research on this important topic must account for exchange rate movements, measure permanent income and specify interest rate changes correctly.
An analysis of real exchange rate disequilibrium in developing countries, with an empirical focus on South Africa.
(1999) Tembo, George.; Mainardi, Stefano.
Since the early 1970s, exchange rate fluctuations have characterised the behaviour of the external value of many currencies in both high- and low-income countries. Up-and-down movements in real exchange rates have been observed under fixed as well as flexible arrangements. This is in spite of the fact that many less developing countries (until the 1980s), unlike the major industrialised countries, opted to retain relatively rigid exchange rate systems after the collapse of the Bretton Woods system. Exchange rate volatility has been a subject of much concern in government, business and academic circles because it has been associated with negative effects on the performance of developing economies. Consequences of these large swings in exchange rates have included uncertainty and delays in business decisions, resource misallocation, interest rate volatility and real exchange rate misalignments. For the period, from 1970 to 1996, this study investigates the phenomenon of real exchange rate disequilibrium in developing countries, with an empirical and econometric examination of South African data. Using the ordinary least squares and the EngleGranger cointegration techniques, this investigation found that government consumption of nontradables, the price of gold in rand, the overall terms of trade and the rate of depreciation are important determinants of the short-run behaviour of the real effective exchange rate in South Africa. With regard to the long-run the permanent componen1ts ofthe fundamentals - namely, technological or productivity improvement, trade policy, governm1ent consumption of nontradables, disposable income, capital flows, the terms of trade excluding gold and the rand price of gold, were found to be significantly related to the equilibrium conduct of the real effective exchange rate. Instances of real exchange rate misalignment were found in both periods of fixed and flexible exchange rate management.
An analysis of recent global economic development and GDP growth using Stein's Paradox, and South Africa's monetary and fiscal policy response.
(2013) Pillai, Sharvania.; Mahadea, Darma.; Simson, Richard Andrew.
The economic crisis of 2007 has had debilitating effects on the global economy, affecting GDP growth, unemployment and trade to name a few. In response to these economic effects, numerous policy interventions were implemented. There are various existing time-series methods available to determine better estimates of GDP growth rates, one of which is Stein’s Paradox which uses observed averages to estimate unobservable quantities which are closer to the true unknown GDP growth rates or theta (θ) in order to determine better growth rates post the economic crisis. The resulting James-Stein estimator (z) is said to be better than the arithmetic average, and thus a closer approximation to the true GDP growth rates which are unobservable. This dissertation analyses the effects of the 2008 financial crisis on the global economy, with specific reference to South Africa and America, and their corresponding policy interventions to determine the growth trajectory after the crisis. The main objective is to determine if better estimates of GDP growth can be calculated using Stein’s Paradox, across a sample of 30 countries, using quarterly GDP growth for the period 2005 to 2008. Annual GDP data was also used for the period 2009-2011, and future GDP growth rates were forecasted for the period 2012 to 2016. To reinforce the Stein’s Paradox, the Monte Carlo study is undertaken. It is used to determine how the James-Stein estimates perform under different conditions using a common c or unique c, and to determine which condition will provide more accurate GDP growth rates (Muthen. 2002). Analysis of time series data across a sample of 30 countries using Stein’s Paradox provided better estimates of GDP growth rates than the individual average growth rates for each country based on the lower standard deviation and total squared error of estimation achieved. This shows that the results are closer to theta and have a smaller amount of error, particularly when a common c was used. The Monte Carlo results indicate that better GDP growth rates are achieved when using a common c instead of a unique c given that a smaller standard deviation and variance is derived. Therefore the Monte Carlo study aims to reinforce or verify Stein’s Paradox. The study also indicates that emerging and developing countries seem to be the driving forces of growth in the future, while developed countries seem to be lagging behind.
An analysis of the impact of the motor industry development programme (MIDP) on the development of the South African motor vehicle industry.
(2001) Damoense, Maylene Yvette.; Bromberger, Norman.; Bell, Robert Trevor.
The study aims to research the performance of past and present motor industry policy in South Africa - with special reference to Phase VI of the local content programme and the Motor Industry Development programme (MIDP) - in the light of the domestic macroeconomic environment and global developments in the world automotive industry. The overall objective of this dissertation is to contribute to the debate on motor industry policy which concerns what future policy would be appropriate for the development of a viable and competitive motor vehicle industry. Thus this study is primarily policy-oriented, and the empirical analysis produced deals with important developments in the local motor and component industries and attempts to examine key variables to establish the likely impact of industry-specific policy changes - both past and future. The method of investigation involves the study of relevant theoretical literature regarding domestic automotive policy, and considers policies of low-volume automobile producing economies, especially Australia, Philippines, India and Malaysia. Also, empirical data of various sub-sectors of manufacturing in South Africa were examined and compared to the motor vehicle sector in order to determine the extent to which the macroeconomic state of the domestic economy as distinct from automotive policy might explain the performance of the South African motor industry. The dissertation presents a review of the local content programme of motor industry policy in South Africa since the early 1960s. It examines the claim that import-substituting policy in the motor industry actually had a negative impact on the country's balance of payments. The study finds questionable whether local content policy contributed significantly to the large net foreign exchange usage by the motor industry in real terms. There is evidence that increases in the nominal industry trade deficit can largely be explained by the weakening of the Rand, especially during the mid-1980s. Also, empirical data was used to make an examination of the performance of automotive exports under Phase VI and the MIDP in the context of economy-wide trade liberalization. It was found that exports of automotive products grew significantly under both Phase VI and the MIDP in real Rand terms. Thus, it seems probable that industry-specific policy played a major role in the strong export performance of the sector since the late 1980s through to the 1990s. The study then reviews the revised version of the impact of the MIDP and considers the future of the industry. The state of the domestic macroeconomic environment and globalization of the international automobile industry, including the influence of Transnational Corporations' (TNCs') strategies, will undoubtedly determine the future direction of South Africa's automotive sector. In the short to medium term, we might expect an increase in imported vehicles and some rationalization of the industry. Over the longer term, the possibility of fewer OEMs and component suppliers, and automotive exports are likely to rise as trade and the inflow of foreign investment accelerates due to foreign collaboration and global competition. A simple theoretical model applicable to the South African automotive industry attempts to show the welfare implications of a protective automotive regime (similar to Phase VI) and compares it with that of a more liberal (tariffs-only) automotive regime that may be considered as a likely policy-option for South Africa post-MIDP. The theoretical analysis indicates that the tariffs-only policy is superior to that of a more protective regime in that static efficiency losses are lower. However, the dynamic effects of such policy changes and of possible TNC responses to them, which are referred to in the previous paragraph, are not included in this simple model.
An analysis of the impact that electrification has had on the rural domestic energy market in northern KwaZulu-Natal, 1989- 1993: implications for the marketing of strategic infrastructural services.
(1995) Crawford, Grant John.; McCarney, L.
Abstract available in PDF.
An analysis of the South African equity market and sector return-risk relationship (January 1990-December 2002).
(2004) Malahay, Brent Mallari.; Oldham, George W.
The research paper is an analysis of the South African equity market and sector return-risk relationship. The following two basic questions, addressed in the research paper, pertain to the South African equity market for the period January 1990 to December 2002: (1) how did equity prices behave; and (2) what were the fundamental factors that caused these price movements? Two contrasting sub-periods are identified, namely, Period 1 (January 1990 to June 1997 and Period 2 (July 1997 to December 2002. Period 1 is the pre-Asian financial crisis period and Period 2 is the post-Asian financial crisis period. During the thirteen-year period (1990 to 2002) a market index explained most of the effect on market and sector returns. However, the composition of this market index varied between Period 1 and Period 2. During Period 1, when equity prices and the rand exchange were relatively stable, the market index was composed of domestic systematic risk. This signified that investors were looking 'inwards' or were more concerned about domestic fundamentals i.e. domestic financial stability. Contrastingly, during Period 2, when equity prices and the rand exchange were relatively volatile, the market index was composed of foreign systematic risk. This signified that investors were looking 'outwards' or were more concerned about global fundamentals i.e. global financial stability. It was further found that over the course of January 1990 to December 2002, South African equity sector returns from the resource, financial and non-resource/financial sectors had experienced abnormal returns. The abnormal returns indicate sector inefficiency and/or cognitive biases in investor behaviour.
The analytical and empirical appraisal of the Ricardian equivalence with reference to South Africa.
(1998) Newport-Gwilt, Victoria Joan.; Simson, Richard Andrew.
The Government of National Unity, on coming into power in April, 1994, has endorsed the reconstruction and development programme (RDP) and its broad agenda for the rapid removal of the problems and gross inequality evident in all aspects of the South African society. Many economists argue that the sustain ability of the RDP, will depend crucially on the maintenance of fiscal discipline and the progressive reduction of the overall fiscal deficit. As excessive fiscal deficits are often associated with higher inflation, higher real interest rates, balance of payments disequilibrium and lower economic growth, thereby putting the RDP at jeopardy. The view based on the Ricardian Equivalence approach however, takes the position that neither deficits nor the way they are financed, is as critical to economic policy and the future prosperity of an economy, as is generally believed. The Ricardian view consequently, argues that government need not necessarily embark on deficit reduction programmes as advocated by the so called traditional view. The study investigates the validity of the Ricardian view, both on the empirical and theoretical side, with special reference to the South African economy. The specific question that this study attempts to address is whether economic agents behave in a Ricardian manner in the South African economy. Our results (based on the replication of the Dalamagas (1994) study) could be very consequential for South African policy makers, as they suggest that the Ricardian Equivalence proposition is valid and therefore, government could on purely theoretical grounds shift its focus away from the debt situation, and concentrate on the policies aimed to correct the inequalities (in wealth, distribution of public goods, employment opportunities) created by the Apartheid era. Whether government should do so in reality however is debateable due to the other considerations that government need to take account of when implementing actual macroeconomic policy.
The applicability of the risk-free rate proxy in South Africa : a zero-beta approach.
(2009) Charteris, Ailie Heather.; Strydom, Barry Stephen.
An applied trancendental logarithmic cost function : economies of scale and elasticities of substitution in selected South African manufacturing sectors (1972-1990).
(1995) Cobbledick, John.; Hofmeyr, Julian. F.
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.
Assessed losses : an investigation into the restrictions imposed on a taxpayer, prohibiting the utilisation of the relief from taxation arising from an assessed loss.
(2004) Devrajh, Anesh.; Deodutt, Jugjith.
Section 20 of the Income Tax Act, No 58 of 1962 allows a taxpayer that has sustained an assessed loss to carry forward the balance of assessed loss and be set off against income earned in the future years. In addition, the loss sustained from one source may be set off the income from another. The assessed loss may be carried forward indefinitely, provided the taxpayer does not fall foul to a provision that restricts the continued use of the assessed loss. The taxpayer's right to retain, carry forward and utilise the assessed loss will be lost if: • The taxpayer's debt(s) are reduced or extinguished, without it being settled. • When a company cease trading. • Also in the case of a company, when income is channelled into it solely for the utilisation of the assessed loss. A recent amendment prevents certain individuals from setting off the assessed loss sustained in certain activities against the income of another.
An assessment of social diversity and economic outcomes : the measurement of social fractionalisation in South Africa.
(2015) McArthur, Sian Camilla.; Vermaak, Claire Lauren.
Abstract available in print copy.
An assessment of the implementation of the performance management strategy used by South African breweries in east coast region.
(2018) Sibisi, Mthokozisi Cleopas.; Beharry-Ramraj, Andrisha.
Performance management is aimed at constant development of employees, wherein their input to the organization is acknowledged, and their future potential and developmental needs are identified. In other words, performance management aims at expediting an understanding that is shared through giving and receiving feedback with mutual accountability as it were. While so much is known about the performance management itself, little is known with regards to the implementation of the performance management strategy. This study seeks to assess the implementation of the performance management strategy, with special reference to the East Coast region of the South African Breweries. To do this, the study seeks to understand the performance management goals set by the organization, performance measurement and the performance feedback techniques. Similarly, the study seeks to understand the basis of reward for performance and to understand how performance objectives and activities in the organization are implemented. The qualitative research methodology type was employed. In essence, the exploratory research design was utilized, while 12 respondents comprising of managers and employees were purposively selected for the study. The in-depth interview type was used to elicit responses from the respondents. The date cleansing was done with Trcohim and Donnelly (2007) four indicators of reliability and validity of qualitative data, while the thematic qualitative data analysis was employed to analyse the qualitative data. The findings of the study indicate that performance management goals are set from the top and cascaded down throughout the company. These goals are set against company’s performance targets. Similarly, other findings showed that performance measurement are done on a routine basis such weekly, monthly and on annual basis. It was also found that there is one standard feedback system which is tracked every week on a one on one basis which leads to two performance reviews a year. Again, findings showed that reward system for performance is based on achieving performance targets set against KPIs. Lastly, findings exude that performance management decisions are imposed by top management and the goals for individuals are implemented with the aim of achieving their targets. Thus, the study recommend that for a the standardised target strategy due to the fact that there is standard tool of operating performance measurements in different geographical location that have different standards of living and products preferences. The need for a standardized format of providing feedback to employees and Human Resource Management should also in be involved in the process and the consideration of environmental influence in the administration of reward system. Lastly, it is recommended that there must be room for employee’s consultation on issues of performance implementation and employees must be full participants of any implementation strategy.
Attaching monetary values to environmental goods and services : an application of the travel cost method at Midmar.
(2004) Lutchman, Sunjay.; Oldham, George W.
Midmar is built on the Umgeni River, KwaZulu-Natal and is 1060m above sea level. The river starts as a small stream in Loteni and has a total catchment area of 906 square kilometres and an annual rainfall of 1016 mm. Midmar provides a multitude of benefits classified as either onsite use benefits or non-use benefits. This dissertation focuses on environmental economics and is concerned with assigning a monetary value to a given environmental good, namely, recreation at Midmar. This entails estimation of the demand curve for recreation at Midmar, and using this curve, establishing the consumer surplus attached to Midmar. The Individual Travel Cost method is used to investigate the nature of recreational demand at Midmar and essentially, measures the economic value of recreation use here. In addition, an examination as to whether consumers enjoy any consumer surplus associated with recreational demand is undertaken. The survey undertaken concludes that recreational visitors to Midmar enjoy a consumer surplus of approximately R71 per visit. Total consumer surplus for Midmar during 1999 was estimated to be R4.9 million. This suggests that the actual price paid by visitors to Midmar understates the true value attached to such a visit and hence, park management needs to be aware of this. Finally, this dissertation emphasizes the importance and potential use of research such as this which could assist and guide future planning and decision making in South Africa.
"Can the national budget influence investment and growth? : - a Ricardian perspective"
(2006) Mathfield, Damon.
Since Ricardo's nineteenth-century suggestion that the mean's of financing government spending is irrelevant, theoretical debate concerning the burden of government debt has been vigorous
Capital budgeting techniques : principle versus practice in South Africa.
(2000) Napier, Jason.; Simson, Richard Andrew.
No abstract available.

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