This study examines the transformative role of VC investments in the growth and development of early-stage firms in South Africa and Kenya. While the importance of entrepreneurship in socioeconomic progress is recognized, the availability of sustainable funding for innovative early-stage firms...

Using high-resolution administrative, census, and satellite data, this paper shows that South African cities are characterized by spatial mismatches between where people live and where jobs are located, relative to 20 global peers. Areas within 5 kilometers of commercial centers have 9,300 fewer...

This paper makes the case for measuring economic activity in real time in a middle-income setting using indicators alternative to the standard System of National Accounts measure of gross domestic product (GDP). GDP remains indispensable, yet its limits as a welfare proxy are amplified where...

This research explores the application of extreme value theory in modelling and quantifying tail risks across different economic equity markets, with focus on the Nairobi Securities Exchange (NSE20), the South African Equity Market (FTSE/JSE Top40) and the US Equity Index (S&P500). The study...

The evolving geopolitical landscape has placed South Africa at a crossroads, torn between its historical ties to the West and its growing relationships with BRICS+ nations, particularly China and Russia. The country's recent political shift, marked by the African National Congress (ANC) losing...

Chronic electricity shortages constrain growth and welfare in many developing countries, where load shedding rations demand. Intermittent renewables can ease shortages, but their effects depend on how infeed timing aligns with scarcity. Using high-frequency data from South Africa and an...

Entrepreneurship aims to contribute significantly to economic development, a trend that has been progressively growing over time. Nonetheless, female entrepreneurs continue to face substantial challenges, including limited access to financial resources and sociocultural barriers. The influence...

How effective are cash transfers at improving labour market outcomes in settings characterized by severe job scarcity and constraints to self-employment? This paper provides evidence of the labour market effects of South Africa's Social Relief of Distress (SRD) grant, a low-value, unconditional...

Owing to its ample natural endowments, independent institutions, and strong monetary policy framework, South Africa’s economy has proven resilient to renewed global turbulence related to greater protectionism, fragmentation, and heightened policy uncertainty in 2025. However, long-standing...

South Africa has a relatively well-developed social protection system for a middle-income country. Despite its roots in the country's racially discriminatory past, the system has been repurposed post-apartheid to address deep poverty and severe inequality. This paper explores key characteristics...

This paper examines the geography of intergenerational income mobility in South Africa across districts and metropolitan municipalities as well as historically disadvantaged former-homelands. South Africa's high inequality has a geographical dimension (spatial inequality), shaped by a long...

This paper investigates the extent to which the historical legacy of apartheid laws explains contemporary misallocation and firm productivity in South Africa. During the apartheid era (1948-1994), job reservations, closed-shop agreements, and minimum-wage policies were implemented to restrict...

How should a developing country such as South Africa respond to the USA's "Liberation Day" Tariffs of April 2025 and subsequent shocks? Combining the GTAP-Dynamic (GDyn) Computable General Equilibrium model with an expanded Decision Support Model (DSM), we simulate five policy response scenarios...

Market forces, and notably the role of trade openness, contribute to shaping inequality in South Africa and may limit the inclusiveness of its growth path. Recently, policy reforms may have helped to mitigate these effects. To better understand these developments, we analyse trends in post-tax...

This paper examines the impact of floods on regional import dynamics in South Africa. Floods can disrupt firms' production activities and thereby hinder their participation in import markets. At the same time, firms may increase imports to compensate for disruptions in domestic supply networks....

In this paper, we examine the transplantation of British company law into the Cape Colony in the late nineteenth century. The Cape Colony Companies Act of 1892 was like its British counterpart in that it provided minimal investor protection. This meant that promoters were free to choose the...

The evolving geopolitical landscape has placed South Africa at a crossroads, torn between its historical ties to the West and its growing relationships with BRICS+ nations, particularly China and Russia. The country's recent political shift, marked by the African National Congress (ANC) losing...

This paper investigates the extent to which the historical legacy of apartheid laws explains contemporary misallocation and firm productivity in South Africa. During the apartheid era (1948-1994), job reservations, closed-shop agreements, and minimum-wage policies were implemented to restrict...

South Africa has a relatively well-developed social protection system for a middle-income country. Despite its roots in the country's racially discriminatory past, the system has been repurposed post-apartheid to address deep poverty and severe inequality. This paper explores key characteristics...

This paper examines the impact of floods on regional import dynamics in South Africa. Floods can disrupt firms' production activities and thereby hinder their participation in import markets. At the same time, firms may increase imports to compensate for disruptions in domestic supply networks....

How effective are cash transfers at improving labour market outcomes in settings characterized by severe job scarcity and constraints to self-employment? This paper provides evidence of the labour market effects of South Africa's Social Relief of Distress (SRD) grant, a low-value, unconditional...