Showing 1 - 10 of 22
The main purpose of this article is to determine whether money should continue to play an important role in the formulation of monetary policy in South Africa, even though the monetary policy framework has recently changed to an inflation targeting strategy. Money can continue to play an...
Persistent link: https://www.econbiz.de/10005475876
This paper applies a 'generalised' version of Thirlwall's balance-of-payments (BOP) constrained growth model by testing for long-run relationships between the output growth rates of OECD countries and two neighbouring regions; South Africa (SA) and the rest of the Southern African Development...
Persistent link: https://www.econbiz.de/10005482756
Persistent link: https://www.econbiz.de/10005166685
This study emphasizes the importance of identifying the origin of inflation in the present context of inflation targeting by many emerging market and transition economies. The analysis shows, based on South African data, how structural (supply) and demand inflation can be distinguished. The...
Persistent link: https://www.econbiz.de/10005282452
Persistent link: https://www.econbiz.de/10007655190
Persistent link: https://www.econbiz.de/10009989919
This paper proposes two types of AK-style endogenous growth models to test the physical capital accumulation hypothesis in a ‘typical’ developing country with multiple regimes: a strong version, in which technological progress is fully endogenous to capital accumulation, and a weaker...
Persistent link: https://www.econbiz.de/10011266427
The purpose of this paper is to explain differences in the productivity of capital across countries taking 84 rich and poor countries over the period 1980-2011, and to test the orthodox neoclassical assumption of diminishing returns to capital. The marginal product of capital is measured as the...
Persistent link: https://www.econbiz.de/10011082436
This paper re-examines the role of physical capital accumulation in the Indian economy over the period 1953-2010. As an alternative to the orthodox total factor productivity (TFP) view, the paper develops a combined TFP-capital accumulation hypothesis of growth transitions. The results show that...
Persistent link: https://www.econbiz.de/10010842589
The purpose of this paper is to explain differences in the productivity of capital across countries taking 84 rich and poor countries over the period 1980-2011, and to test the orthodox neoclassical assumption of diminishing returns to capital. The marginal product of capital is measured as the...
Persistent link: https://www.econbiz.de/10010992348