Regional integration: a historical analysis of the RSA's trade relationships with the SADCC member states, 1980-1989.
- Authors: Dikotla, Masennya Phineas
- Date: 2007-12-06T06:19:31Z
- Subjects: Economic integration , Foreign economic relations , South Africa , Southern African Development Coordination Conference , Southern Africa
- Type: Thesis
- Identifier: uj:14075 , http://hdl.handle.net/10210/144
- Description: Die onafhanklike lande van die Suider-Afrikaanse streek het, sedert hul respektiewelike onafhanklikwording, besluit om geen politieke bande of verhoudinge met hul kragtige, suidelike buurman, Suid-Afrika, aan te knoop nie. Al hierdie lande het op politieke gebied daarin geslaag, behalwe Malawi. Op ekonomiese gebied, egter, en veral op die gebied van handelsverhoudinge, was hierdie frontlinie state nie suksesvol nie. In ‘n poging om Suid-Afrika te isoleer, is ‘n ekonomiese blok, die SADCC, op die been gebring. Met die stigting van die SADCC in 1980, het die groep die vermindering van ekonomiese afhanklikheid van die Republiek van Suid-Afrika as hoofdoelwit gestel. Hierdie studie is ‘n poging om die SADCC se suksesse en mislukkings in hierdie verband te evalueer. Verder word probeer om die probleme wat die organisasie ondervind het in hul pogings ter bereiking van hierdie doelwit, binne die Suider-Afrikaanse geo-politieke omgewing, te ondersoek, veral in die lig van Suid-Afrika se vasbeslotenheid om regionale ekonomiese en politieke heerskappy te behou. Terselfdertyd poog die navorser om klem te lê op die deursettingsvermoë van SADCC lede om hul afhanklikheid van die Republiek te verminder – al was die resultaat in meeste gevalle gering. Hierdie studie toon dat die ekonomiese realiteit van die Suider-Afrikaanse streek die politieke retoriek aan beide kante van die politieke spektrum ten volle oorheers het. Die aard van die handelsverhoudinge tussen die RSA en die SADCC ledelande is deurgaans deur strukturele kontraste en weersprekende feite gekompliseer. , Prof. G. Verhoef
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- Authors: Dikotla, Masennya Phineas
- Date: 2007-12-06T06:19:31Z
- Subjects: Economic integration , Foreign economic relations , South Africa , Southern African Development Coordination Conference , Southern Africa
- Type: Thesis
- Identifier: uj:14075 , http://hdl.handle.net/10210/144
- Description: Die onafhanklike lande van die Suider-Afrikaanse streek het, sedert hul respektiewelike onafhanklikwording, besluit om geen politieke bande of verhoudinge met hul kragtige, suidelike buurman, Suid-Afrika, aan te knoop nie. Al hierdie lande het op politieke gebied daarin geslaag, behalwe Malawi. Op ekonomiese gebied, egter, en veral op die gebied van handelsverhoudinge, was hierdie frontlinie state nie suksesvol nie. In ‘n poging om Suid-Afrika te isoleer, is ‘n ekonomiese blok, die SADCC, op die been gebring. Met die stigting van die SADCC in 1980, het die groep die vermindering van ekonomiese afhanklikheid van die Republiek van Suid-Afrika as hoofdoelwit gestel. Hierdie studie is ‘n poging om die SADCC se suksesse en mislukkings in hierdie verband te evalueer. Verder word probeer om die probleme wat die organisasie ondervind het in hul pogings ter bereiking van hierdie doelwit, binne die Suider-Afrikaanse geo-politieke omgewing, te ondersoek, veral in die lig van Suid-Afrika se vasbeslotenheid om regionale ekonomiese en politieke heerskappy te behou. Terselfdertyd poog die navorser om klem te lê op die deursettingsvermoë van SADCC lede om hul afhanklikheid van die Republiek te verminder – al was die resultaat in meeste gevalle gering. Hierdie studie toon dat die ekonomiese realiteit van die Suider-Afrikaanse streek die politieke retoriek aan beide kante van die politieke spektrum ten volle oorheers het. Die aard van die handelsverhoudinge tussen die RSA en die SADCC ledelande is deurgaans deur strukturele kontraste en weersprekende feite gekompliseer. , Prof. G. Verhoef
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The dynamics and economic impact of foreign debt in South Africa
- Authors: Schoeman, Johannes Petrus
- Date: 2010-10-04T08:46:41Z
- Subjects: External debts , Economic conditions (South Africa) , Foreign economic relations
- Type: Thesis
- Identifier: uj:6922 , http://hdl.handle.net/10210/3432
- Description: D.Comm. , Foreign debt affects the economy through three main channels, namely: the debt overhang effect, the liquidity constraint effect and the uncertainty effect. The main aim of this study is to derive an optimal level of foreign debt relative to Gross Domestic Product (GDP) for South Africa by investigating these channels. Incurring foreign debt is like a double edge sword. On the one side the foreign debt is needed for economic development (from a demand perspective) and on the other side the level of debt impacts on the economy through higher domestic interest rates, via the sovereign risk spread, (from a supply perspective). The factors that impact on capital flows as shown by previous periods of financial distress in the global capital markets and debt sustainability were investigated. This study shows that risk spreads are driven by both internal and external factors. Investors will price into the secondary risk spread their perceptions of the sustainability of foreign debt. This is also impacted by external factors such as contagion and the credit rating of a country. The different objectives of government in the internal capital market since 1994 and the secondary objectives of building liquidity benchmarks, diversifying the foreign currency portfolio, broadening the investor base in RSA bonds and borrowing at the most effective rates, are also discussed. A number of equations were estimated using the Ordinary Least Squares (OLS) method and the values for government foreign debt were varied to test the impact on the familiar IS/LM/BP and AS/AD models. These models were further used to determine the debt overhang and liquidity constraint effect. It was found that foreign debt has an asymmetric impact on economic growth where it contributes to economic growth up to a level of approximately 35 per cent of GDP, where after it has a negative impact on economic growth.
- Full Text:
- Authors: Schoeman, Johannes Petrus
- Date: 2010-10-04T08:46:41Z
- Subjects: External debts , Economic conditions (South Africa) , Foreign economic relations
- Type: Thesis
- Identifier: uj:6922 , http://hdl.handle.net/10210/3432
- Description: D.Comm. , Foreign debt affects the economy through three main channels, namely: the debt overhang effect, the liquidity constraint effect and the uncertainty effect. The main aim of this study is to derive an optimal level of foreign debt relative to Gross Domestic Product (GDP) for South Africa by investigating these channels. Incurring foreign debt is like a double edge sword. On the one side the foreign debt is needed for economic development (from a demand perspective) and on the other side the level of debt impacts on the economy through higher domestic interest rates, via the sovereign risk spread, (from a supply perspective). The factors that impact on capital flows as shown by previous periods of financial distress in the global capital markets and debt sustainability were investigated. This study shows that risk spreads are driven by both internal and external factors. Investors will price into the secondary risk spread their perceptions of the sustainability of foreign debt. This is also impacted by external factors such as contagion and the credit rating of a country. The different objectives of government in the internal capital market since 1994 and the secondary objectives of building liquidity benchmarks, diversifying the foreign currency portfolio, broadening the investor base in RSA bonds and borrowing at the most effective rates, are also discussed. A number of equations were estimated using the Ordinary Least Squares (OLS) method and the values for government foreign debt were varied to test the impact on the familiar IS/LM/BP and AS/AD models. These models were further used to determine the debt overhang and liquidity constraint effect. It was found that foreign debt has an asymmetric impact on economic growth where it contributes to economic growth up to a level of approximately 35 per cent of GDP, where after it has a negative impact on economic growth.
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