Conradie et al. (2009a and 2009b) identified the Central Karoo as the worst performing area in the Western Cape, but left the reasons for the region's declining total factor productivity (TFP) unexplained. The current paper uses a combination of literature review and analysis of anecdotal...

Caracal (Caracal caracal) and leopard (Panthera pardus) are perennial problems for sheep farmers on the southern fringe of South Africa’s arid Karoo. In the past, farmers responded to the conflict with blanket culling of predators, a strategy that ecologists understand to be harmful. This...

This paper examines the appropriate level of aggregation for the construction of total factor productivity (TFP) indices. The dataset covers the magisterial districts and statistical regions of the Western Cape for the years 1952 to 2002. Over these five decades agricultural production in the...

This article measures total factor productivity (TFP) growth in Western Cape agriculture for 31 magisterial districts from 1952 to 2002 to illustrate the benefits of disaggregation compared with national TFPs. There is negative or low growth in the eastern districts and rapid growth in the...

Using bank-level data from India, for nine years (1995-1996 to 2003-2004), we examine banks' behavior in the context of emerging credit markets. Our results indicate that the credit market behavior of banks in emerging markets is determined by past trends, the diversity of the potential pool of...

Using bank-level data from India, for nine years (1995-96 to 2003-04), we examine banks' behavior in the context of emerging credit markets. Our results indicate that the credit market behavior of banks in emerging markets is determined by past trends, the diversity of the potential pool of...

This paper measures corporate sector performance (efficiency) and empirically examines the role of corporate governance. A stochastic frontier with inefficiency effects is fitted to a panel dataset of 31 of the largest nonfinancial companies listed on the Kuala Lumpur Stock Exchange for the...

This paper assesses the effectiveness of traded turnover and Amihud (2002) constructs in measuring illiquidity which is used in constructing a multifactor CAPM. The performance of this model is contrasted against GARCH and simple stochastic drift models on a unique sample of five West African...

Established illiquidity measures are constructed for emerging markets in Africa and used to determine which best explain trading costs. Costs of equity are derived from an augmented CAPM for a sample of emerging financial markets generally ignored in the literature. These include: South Africa...