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- Volume 3, Issue 1, 2009
Journal of Economic and Financial Sciences - Volume 3, Issue 1, 2009
Volume 3, Issue 1, 2009
Author Gideon ElsSource: Journal of Economic and Financial Sciences 3, pp 5 –6 (2009)More Less
This edition of the Journal of Economic and Financial Sciences has a distinctive economic 'flavour' to it. As part of the Northern Cape Land Reform and Advocacy (NCLRA) programme being implemented by Food & Agricultural Research Management-Africa in South Africa Ana Marr provides an overview of the NCLRA programme that initiated a financial mechanism to help poor communities to get access to finance and training. One prominent aspect of the programme is the implementation of Livestock Banks and the article provides an analytical framework with which to evaluate the effectiveness of Livestock Banks in the poor communities of the Northern Cape in South Africa.
Financial Market Development and Entrepreneurship in sub-Saharan Africa : call for papers for a special issueSource: Journal of Economic and Financial Sciences 3, pp 7 –8 (2009)More Less
After many decades of stagnation and financial repression, greater access to finance has been providing an unprecedented stimulus to entrepreneurship in sub-Saharan Africa in recent years. In particular, the development of financial markets has boosted high-potential entrepreneurial ventures in sectors ranging from biotechnology to telecommunications and services. With the world now staring its worst financial and economic crisis in 80 years in the face, the question has been raised: what are the implications of this development for further financial market development in sub-Saharan Africa, and how the crisis may impact on entrepreneurship. As such the time is ripe for an appraisal of financial market development and entrepreneurship in sub-Saharan Africa.
Financing the development of poor communities in the Northern Cape of South Africa - an analytical framework for the study of Livestock BanksAuthor Ana MarrSource: Journal of Economic and Financial Sciences 3, pp 9 –30 (2009)More Less
This paper is part of a major project about the Northern Cape Land Reform and Advocacy (NCLRA) programme being implemented by FARM-Africa in South Africa. The NCLRA programme had initiated a financial mechanism to help poor communities to get access to finance and training in order to enable them to make better use of their newly-acquired land. One prominent aspect of the programme is the implementation of Livestock Banks, or the use of animals as financial products. The paper provides an analytical framework with which to evaluate the effectiveness of Livestock Banks in the poor communities of the Northern Cape in South Africa. It focuses on the design, implementation and future of Livestock Banks. The paper argues that Livestock Banks need to be reformed and enhanced if they are to continue to play a key role in the goal of creating financial and economic value in Africa, particularly when the primary objective is simultaneously to help reduce poverty.
Author Ewert KleynhansSource: Journal of Economic and Financial Sciences 3, pp 31 –48 (2009)More Less
The competitiveness platform of industries of various sizes is compared in this study, which also examines their competitiveness indices and aspects relating to the competitiveness platform of large, medium and small firms respectively. The reasons that small and medium enterprises (SMMEs) deserve the attention of policymakers are considered first, and the merits of large firms are then assessed. Finally, the results of an empirical investigation into the competitiveness of South African industries are considered. The study revealed that firms of different sizes have strengths and weaknesses influencing their respective international competitiveness. When development policies and strategies are designed to enhance the competitiveness of industrial SMMEs, this should be kept in mind. A firm can be enhanced, for example, through the supplying of information, infrastructure, development funds and the acquisition of modern technology. Competitiveness and productivity increase as the size of firms increases.
Source: Journal of Economic and Financial Sciences 3, pp 49 –68 (2009)More Less
In 2007 the working conditions and remuneration of waiters in South Africa changed with the introduction of the Sectoral Determination 14, as an addition to the Basic Conditions of Employment Act no 75 of 1997. One important provision of the Sectoral Determination is the introduction of minimum wages for employees in the hospitality sector, including waiters. The aim of this paper is to investigate the working conditions and remuneration of waiters and to compare their actual working conditions with those stipulated by the above legislation. In order to achieve this aim, the research includes a literature review of the BCEA and Sectoral Determination as well as a survey amongst waiters in Kempton Park (South Africa), investigating the actual working conditions and remuneration of waiters. A comparative study of the actual working conditions is done and the results are compared with the available literature on the topic. From this analysis relevant policy recommendations are formulated.
Source: Journal of Economic and Financial Sciences 3, pp 69 –86 (2009)More Less
Events and festivals are hosted with the expectation that they hold many benefits for the host communities. These benefits include employment, income generation, and increasing tourist numbers, thereby improving the quality of life of the host community. However, little is known about the socio-economic impact of arts festivals, especially in the South African context. Hence, the purpose of this article was to determine the socio-economic impact of the Klein Karoo National Arts Festival (KKNK) on the community of Oudtshoorn. This festival is the largest arts festival, both in terms of visitor numbers as well as income generation, in South Africa. In order to achieve the goal of the research, three surveys were conducted: firstly, a community survey; secondly, a business survey; and, finally, a visitor survey. The results indicate that the KKNK contributes significantly to the economy and community of Oudtshoorn. From a social point of view, however, the respondents indicated that the festival benefits the community more than the individual. To increase the positive socio-economic outcomes of the KKNK, the festival organisers have to focus on greater participation by, and communication with, all stakeholders, especially the local community.
Unemployment in South Africa 1970 - 2002 : the development of a configuration concern for future employmentSource: Journal of Economic and Financial Sciences 3, pp 87 –98 (2009)More Less
Unemployment in South Africa has reached crisis proportions and does not seem to be decreasing in concurrence with the more propitious economic reality. Indeed, the unemployment process seems to be isolated from economic reality and has developed a life of its own. This paper investigates what initiates and underlies the development of this phenomenon. The Phillips model on endogenously determined long-run equilibrium unemployment is applied, using hysteresis models and autoregressive modelling, to determine the nature of the high and sustained levels of South African unemployment. We find evidence of unemployment in South Africa being a historical inheritance preserved by uncertainty and sunken costs in the labour market.