Impact of sectoral determinations in previously unregulated sectors: a case study of domestic work in Grahamstown
- Authors: Nxokweni, Saphokazi
- Date: 2016
- Language: English
- Type: Thesis , Masters , MSocSc
- Identifier: http://hdl.handle.net/10962/3761 , vital:20542
- Description: Domestic labour is widely recognized as one of the most vulnerable labour sectors, both nationally and internationally. In South Africa, sectoral determination 7 was specifically developed to protect domestic workers’ rights and provide them with the means to negotiate with and hold employers to account. However, research over the past years has demonstrated that, while some areas of domestic labour have improved, many workers are still locked in exploitative labour relationships. This research shows that it may seem as if there are significant changes in this sector since the introduction of the sectoral determination, but paternalistic orientations, one-of-the-family myths, and food distribution suggest otherwise. The research concluded that continuities of exploitative and discriminatory practices are still prominent in the employment relationship when viewed through the lens of paternalistic care, food distribution, and the ‘one-of-the-family’ myth.
- Full Text:
- Authors: Nxokweni, Saphokazi
- Date: 2016
- Language: English
- Type: Thesis , Masters , MSocSc
- Identifier: http://hdl.handle.net/10962/3761 , vital:20542
- Description: Domestic labour is widely recognized as one of the most vulnerable labour sectors, both nationally and internationally. In South Africa, sectoral determination 7 was specifically developed to protect domestic workers’ rights and provide them with the means to negotiate with and hold employers to account. However, research over the past years has demonstrated that, while some areas of domestic labour have improved, many workers are still locked in exploitative labour relationships. This research shows that it may seem as if there are significant changes in this sector since the introduction of the sectoral determination, but paternalistic orientations, one-of-the-family myths, and food distribution suggest otherwise. The research concluded that continuities of exploitative and discriminatory practices are still prominent in the employment relationship when viewed through the lens of paternalistic care, food distribution, and the ‘one-of-the-family’ myth.
- Full Text:
Inequality in South Africa: a possible solution within the labour market
- Authors: Ferreira, John-Edward
- Date: 2016
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/4047 , vital:20594
- Description: This study sets out to identify the most effective way in which persistently and unacceptably high levels of inequality can be reduced in South Africa. Three alternative approaches were identified from the literature and their impact explored statistically. They are: the introduction of a ‘Social Solidarity Grant’; a decrease in unemployment by 5%; and a narrowing of the skill premium through an expansion of tertiary education. It is important to note that the study makes no attempt at explaining how these outcomes might be implemented or achieved. Rather, it sets out to determine only the effect that such policies may have on measured inequality. It was found that while the introduction of a new grant had a significant effect on inequality, this effect however, was once-off. The grant would be financed by individuals in the top decile through tax increases, which would be a complicated endeavour. Both job creation and a narrowing of the skills premium were significantly effective in decreasing inequality. The narrowing of the skills premium showed more promise due to its accelerating effectiveness in decreasing inequality over time and the fact that it directly addresses the problem of wage differentials. It was noted that the extreme levels of poverty and unemployment in South Africa may dampen enthusiasm for policies that narrow the skills premium to reduce inequality. These characteristics make job creation a more popular policy option because of the positive impact on poverty and unemployment as well as on inequality.
- Full Text:
- Authors: Ferreira, John-Edward
- Date: 2016
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10962/4047 , vital:20594
- Description: This study sets out to identify the most effective way in which persistently and unacceptably high levels of inequality can be reduced in South Africa. Three alternative approaches were identified from the literature and their impact explored statistically. They are: the introduction of a ‘Social Solidarity Grant’; a decrease in unemployment by 5%; and a narrowing of the skill premium through an expansion of tertiary education. It is important to note that the study makes no attempt at explaining how these outcomes might be implemented or achieved. Rather, it sets out to determine only the effect that such policies may have on measured inequality. It was found that while the introduction of a new grant had a significant effect on inequality, this effect however, was once-off. The grant would be financed by individuals in the top decile through tax increases, which would be a complicated endeavour. Both job creation and a narrowing of the skills premium were significantly effective in decreasing inequality. The narrowing of the skills premium showed more promise due to its accelerating effectiveness in decreasing inequality over time and the fact that it directly addresses the problem of wage differentials. It was noted that the extreme levels of poverty and unemployment in South Africa may dampen enthusiasm for policies that narrow the skills premium to reduce inequality. These characteristics make job creation a more popular policy option because of the positive impact on poverty and unemployment as well as on inequality.
- Full Text:
Single station TEC modelling during storm conditions
- Authors: Uwamahoro, Jean Claude
- Date: 2016
- Language: English
- Type: Thesis , Masters , MSc
- Identifier: http://hdl.handle.net/10962/3812 , vital:20545
- Description: It has been shown in ionospheric research that modelling total electron content (TEC) during storm conditions is a big challenge. In this study, mathematical equations were developed to estimate TEC over Sutherland (32.38oS, 20.81oE), during storm conditions, using the Empirical Orthogonal Function (EOF) analysis, combined with regression analysis. TEC was derived from GPS observations and a geomagnetic storm was defined for Dst ≤ -50 nT. The inputs for the model were chosen based on the factors that influence TEC variation, such as diurnal, seasonal, solar and geomagnetic activity variation, and these were represented by hour of the day, day number of the year, F10.7 and A index respectively. The EOF model was developed using GPS TEC data from 1999 to 2013 and tested on different storms. For the model validation (interpolation), three storms were chosen in 2000 (solar maximum period) and three others in 2006 (solar minimum period), while for extrapolation six storms including three in 2014 and three in 2015 were chosen. Before building the model, TEC values for the selected 2000 and 2006 storms were removed from the dataset used to construct the model in order to make the model validation independent on data. A comparison of the observed and modelled TEC showed that the EOF model works well for storms with non-significant ionospheric TEC response and storms that occurred during periods of low solar activity. High correlation coefficients between the observed and modelled TEC were obtained showing that the model covers most of the information contained in the observed TEC. Furthermore, it has been shown that the EOF model developed for a specific station may be used to estimate TEC over other locations within a latitudinal and longitudinal coverage of 8.7o and 10.6o respectively. This is an important result as it reduces the data dimensionality problem for computational purposes. It may therefore not be necessary for regional storm-time TEC modelling to compute TEC data for all the closest GPS receiver stations since most of the needed information can be extracted from measurements at one location.
- Full Text:
- Authors: Uwamahoro, Jean Claude
- Date: 2016
- Language: English
- Type: Thesis , Masters , MSc
- Identifier: http://hdl.handle.net/10962/3812 , vital:20545
- Description: It has been shown in ionospheric research that modelling total electron content (TEC) during storm conditions is a big challenge. In this study, mathematical equations were developed to estimate TEC over Sutherland (32.38oS, 20.81oE), during storm conditions, using the Empirical Orthogonal Function (EOF) analysis, combined with regression analysis. TEC was derived from GPS observations and a geomagnetic storm was defined for Dst ≤ -50 nT. The inputs for the model were chosen based on the factors that influence TEC variation, such as diurnal, seasonal, solar and geomagnetic activity variation, and these were represented by hour of the day, day number of the year, F10.7 and A index respectively. The EOF model was developed using GPS TEC data from 1999 to 2013 and tested on different storms. For the model validation (interpolation), three storms were chosen in 2000 (solar maximum period) and three others in 2006 (solar minimum period), while for extrapolation six storms including three in 2014 and three in 2015 were chosen. Before building the model, TEC values for the selected 2000 and 2006 storms were removed from the dataset used to construct the model in order to make the model validation independent on data. A comparison of the observed and modelled TEC showed that the EOF model works well for storms with non-significant ionospheric TEC response and storms that occurred during periods of low solar activity. High correlation coefficients between the observed and modelled TEC were obtained showing that the model covers most of the information contained in the observed TEC. Furthermore, it has been shown that the EOF model developed for a specific station may be used to estimate TEC over other locations within a latitudinal and longitudinal coverage of 8.7o and 10.6o respectively. This is an important result as it reduces the data dimensionality problem for computational purposes. It may therefore not be necessary for regional storm-time TEC modelling to compute TEC data for all the closest GPS receiver stations since most of the needed information can be extracted from measurements at one location.
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A comparative analysis of derivative regulation following the global financial crisis : an emerging markets perspective
- Authors: Mpala, Nqobile Natasha
- Date: 2015
- Subjects: Derivative securities , Global Financial Crisis, 2008-2009 , Capital market -- Developing countries , Derivative securities -- Developing countries , International economic relations
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1121 , http://hdl.handle.net/10962/d1018660
- Description: The international financial environment has become riskier due to the recent developments in product offerings and failure of regulation to keep abreast with these changes. The Global Financial Crisis exposed inadequacies of regulation, thus consensus on the need for comprehensive and uniform regulation was made by G-20 member states. Imposing exchange trading, clearing, reporting and capital requirements on the derivatives market are some of the ways of dealing with the problems caused by lax regulatory oversight. In this study, through the comparative analysis of derivatives regulation in South Africa, Brazil, India and Turkey, it was established that emerging countries are taking active steps to implement the G-20 agreement. Uniformity in the core rules was noted, with differences in the supportive legislation. Country specific rules which support the macroeconomic factors that are faced by these countries and the infrastructure available for regulatory execution are used amongst countries. The study concluded that current regulation in emerging countries is accommodative and regulatory differences are in line with economic factors in each country.
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- Authors: Mpala, Nqobile Natasha
- Date: 2015
- Subjects: Derivative securities , Global Financial Crisis, 2008-2009 , Capital market -- Developing countries , Derivative securities -- Developing countries , International economic relations
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1121 , http://hdl.handle.net/10962/d1018660
- Description: The international financial environment has become riskier due to the recent developments in product offerings and failure of regulation to keep abreast with these changes. The Global Financial Crisis exposed inadequacies of regulation, thus consensus on the need for comprehensive and uniform regulation was made by G-20 member states. Imposing exchange trading, clearing, reporting and capital requirements on the derivatives market are some of the ways of dealing with the problems caused by lax regulatory oversight. In this study, through the comparative analysis of derivatives regulation in South Africa, Brazil, India and Turkey, it was established that emerging countries are taking active steps to implement the G-20 agreement. Uniformity in the core rules was noted, with differences in the supportive legislation. Country specific rules which support the macroeconomic factors that are faced by these countries and the infrastructure available for regulatory execution are used amongst countries. The study concluded that current regulation in emerging countries is accommodative and regulatory differences are in line with economic factors in each country.
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Strategic thinking during a period of turbulence : a case study of the BancABC Zimbabwe
- Authors: Mberi, Mary-Jane
- Date: 2015
- Subjects: BancABC (Zimbabwe) , Strategic planning -- Case studies , Strategic planning -- Zimbabwe , Inflation (Finance) -- Zimbabwe , Problem solving -- Zimbabwe , Crisis management -- Zimbabwe , Decision making -- Zimbabwe , Critical incident technique
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:861 , http://hdl.handle.net/10962/d1020603
- Description: A review of strategic thinking literature indicates that research has tended to focus on experiences contributing to strategic thinking, the strategic thinking perspectives that executives are likely to follow based on the environments in which they have developed their strategic competencies, and examining executives’ cognitive maps within the context of strategic management (O’ Shannassy 2003; Kutschera, and Ryan, 2009; Meyer, 2007). As an expansion of these principles and foundations of strategic thinking, this research was a study of the extent to which strategic thinking perspectives are utilised during macro environmental turbulence. According to Cravens et al. (2009: 31) volatility, reinvention, and fundamental changes in markets present unprecedented challenges to researchers and executives. “Unfortunately, too often traditional conceptual models and theories fail to provide adequate insight for coping with this new and rapidly changing business environment. Traditional market perspectives and conceptual logic may even blind researchers and strategic decision makers to the real threats present in the changing competitive landscape and new market space, and to opportunities for added value which can be uncovered and exploited” Cravens et al. (2009: 31). Hyperinflation in Zimbabwe was a major problem from 2003 to April 2009, when the country suspended its own currency and for the next five years the country continued to struggle with various macro environmental challenges. It is this backdrop that makes this research intriguing, where the soundness of any organisation is said to be crucially linked to the soundness of the macro environment, including macroeconomic policies as well as internal governance, market discipline; regulation and supervision (Louw and Venter, 2010). The research was a case study of BancABC Zimbabwe and focused on the period 2009 to 2013. BancABC Zimbabwe is a subsidiary of ABC Holdings Limited which is listed on the Botswana and Zimbabwe stock exchanges (BancABC, 2012). The aim of the study as the first key activity was to explore and describe how the BancABC executives responded to the critical macro environmental incidents identified, at a management or executive team perspective, and secondly, whether the rational reasoning or generative reasoning perspective was dominant during the period of turbulence. The goal is to gain insights of the strategic thinking process followed by executives during a period of macro-environmental turbulence. Literature defines strategic thinking concept as the cognitive process undertaken by executives in relation to problem solving in the business context. Two main perspectives are discussed: Strategic thinking as a science (rational thinking) is the prescriptive, structured nature of strategic thinking; arguments are that it is a less complex perspective for executives to adopt. Strategic thinking as an art (generative thinking) is the perspective that allows the strategist to think outside the box and be more creative about solving strategic problems. The discussion presents how the two perspectives can be used to complement each other and provide a more robust strategic thinking framework. The multi-perspective approach to strategic thinking recommends the right balance between analysis, intuition and creativity can be used to create new frameworks and innovative solutions. The ability to balance these strategic thinking perspectives enables executives to solve strategic problems (Linkov, 1999). The research findings highlighted the effect of time and availability of information on the strategic thinking perspective adopted by executives during times of uncertainty. It was noted that when time and information were available, executives appeared to use the rational strategic thinking perspective, while if there was limited time and information to solve problems the generative thinking perspective was dominantly used. Further the importance of integrative strategic thinking which facilitates the use of both intuition and analysis when solving strategic problems in a turbulent macro environment was also highlighted. The research thesis adopted the structure of a case study, relying on the critical incident technique to create the context of the study; and can be used to explore and discuss strategic thinking for teaching purposes. The results of the study can be recognised as a contribution towards the development of strategic thinking particularly in times of turbulence. It can also form the basis for future studies in the context of strategic thinking.
- Full Text:
- Authors: Mberi, Mary-Jane
- Date: 2015
- Subjects: BancABC (Zimbabwe) , Strategic planning -- Case studies , Strategic planning -- Zimbabwe , Inflation (Finance) -- Zimbabwe , Problem solving -- Zimbabwe , Crisis management -- Zimbabwe , Decision making -- Zimbabwe , Critical incident technique
- Language: English
- Type: Thesis , Masters , MBA
- Identifier: vital:861 , http://hdl.handle.net/10962/d1020603
- Description: A review of strategic thinking literature indicates that research has tended to focus on experiences contributing to strategic thinking, the strategic thinking perspectives that executives are likely to follow based on the environments in which they have developed their strategic competencies, and examining executives’ cognitive maps within the context of strategic management (O’ Shannassy 2003; Kutschera, and Ryan, 2009; Meyer, 2007). As an expansion of these principles and foundations of strategic thinking, this research was a study of the extent to which strategic thinking perspectives are utilised during macro environmental turbulence. According to Cravens et al. (2009: 31) volatility, reinvention, and fundamental changes in markets present unprecedented challenges to researchers and executives. “Unfortunately, too often traditional conceptual models and theories fail to provide adequate insight for coping with this new and rapidly changing business environment. Traditional market perspectives and conceptual logic may even blind researchers and strategic decision makers to the real threats present in the changing competitive landscape and new market space, and to opportunities for added value which can be uncovered and exploited” Cravens et al. (2009: 31). Hyperinflation in Zimbabwe was a major problem from 2003 to April 2009, when the country suspended its own currency and for the next five years the country continued to struggle with various macro environmental challenges. It is this backdrop that makes this research intriguing, where the soundness of any organisation is said to be crucially linked to the soundness of the macro environment, including macroeconomic policies as well as internal governance, market discipline; regulation and supervision (Louw and Venter, 2010). The research was a case study of BancABC Zimbabwe and focused on the period 2009 to 2013. BancABC Zimbabwe is a subsidiary of ABC Holdings Limited which is listed on the Botswana and Zimbabwe stock exchanges (BancABC, 2012). The aim of the study as the first key activity was to explore and describe how the BancABC executives responded to the critical macro environmental incidents identified, at a management or executive team perspective, and secondly, whether the rational reasoning or generative reasoning perspective was dominant during the period of turbulence. The goal is to gain insights of the strategic thinking process followed by executives during a period of macro-environmental turbulence. Literature defines strategic thinking concept as the cognitive process undertaken by executives in relation to problem solving in the business context. Two main perspectives are discussed: Strategic thinking as a science (rational thinking) is the prescriptive, structured nature of strategic thinking; arguments are that it is a less complex perspective for executives to adopt. Strategic thinking as an art (generative thinking) is the perspective that allows the strategist to think outside the box and be more creative about solving strategic problems. The discussion presents how the two perspectives can be used to complement each other and provide a more robust strategic thinking framework. The multi-perspective approach to strategic thinking recommends the right balance between analysis, intuition and creativity can be used to create new frameworks and innovative solutions. The ability to balance these strategic thinking perspectives enables executives to solve strategic problems (Linkov, 1999). The research findings highlighted the effect of time and availability of information on the strategic thinking perspective adopted by executives during times of uncertainty. It was noted that when time and information were available, executives appeared to use the rational strategic thinking perspective, while if there was limited time and information to solve problems the generative thinking perspective was dominantly used. Further the importance of integrative strategic thinking which facilitates the use of both intuition and analysis when solving strategic problems in a turbulent macro environment was also highlighted. The research thesis adopted the structure of a case study, relying on the critical incident technique to create the context of the study; and can be used to explore and discuss strategic thinking for teaching purposes. The results of the study can be recognised as a contribution towards the development of strategic thinking particularly in times of turbulence. It can also form the basis for future studies in the context of strategic thinking.
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Infant observation : the first year of life
- Authors: Gering, Jeanne
- Date: 2013-10-02
- Subjects: Infant psychology Parent and infant Interpersonal communication in infants Mother and infant
- Language: English
- Type: Thesis , Masters , MA
- Identifier: vital:3196 , http://hdl.handle.net/10962/d1009451
- Description: This research project is about infant-observation, that is looking at, observing, and studying parent-infant interactions and relationships within the first year of life. The principle intention of the study is to illustrate and shed light upon human infant development and how the newborn becomes a fully functioning member within the family. The study provides a context in which to consider parent-infant interaction beginning in utero, expanding to the birthing process, and continuing through the infant's first year. It focuses on specific themes of parent-infant interaction. The following situations are explored: the role of the mother; the mother as a container; the infant's experience of containment; the internalisation of experience; the symbolic meaning of food; dealing with distress and the development of concrete communication; the growth of a sense of ego; and, the infant's internal world. The study concludes by addressing various implications for further psychotherapy and compares the therapist-client relationship to the mother-infant relationship. The research outlines one particular psychoanalytic theoretical orientation of mental and emotional development. It is a model derived predominantly from The Developmental School Theorists and Object Relations Theorists, namely, Bowlby, Klein, Mahler and Winnicott. This model looks at the infant's earliest relationships and the processes these set up within the infant's developing mind. Infant observation, asa research method proposed by Bick and Sidoli, links method and theory, and serves as the methodological approach utilised in the present study. A video, based on the parent-infant interaction of three families, provides observational data and may be viewed in conjunction with this research. , KMBT_363 , Adobe Acrobat 9.54 Paper Capture Plug-in
- Full Text:
- Authors: Gering, Jeanne
- Date: 2013-10-02
- Subjects: Infant psychology Parent and infant Interpersonal communication in infants Mother and infant
- Language: English
- Type: Thesis , Masters , MA
- Identifier: vital:3196 , http://hdl.handle.net/10962/d1009451
- Description: This research project is about infant-observation, that is looking at, observing, and studying parent-infant interactions and relationships within the first year of life. The principle intention of the study is to illustrate and shed light upon human infant development and how the newborn becomes a fully functioning member within the family. The study provides a context in which to consider parent-infant interaction beginning in utero, expanding to the birthing process, and continuing through the infant's first year. It focuses on specific themes of parent-infant interaction. The following situations are explored: the role of the mother; the mother as a container; the infant's experience of containment; the internalisation of experience; the symbolic meaning of food; dealing with distress and the development of concrete communication; the growth of a sense of ego; and, the infant's internal world. The study concludes by addressing various implications for further psychotherapy and compares the therapist-client relationship to the mother-infant relationship. The research outlines one particular psychoanalytic theoretical orientation of mental and emotional development. It is a model derived predominantly from The Developmental School Theorists and Object Relations Theorists, namely, Bowlby, Klein, Mahler and Winnicott. This model looks at the infant's earliest relationships and the processes these set up within the infant's developing mind. Infant observation, asa research method proposed by Bick and Sidoli, links method and theory, and serves as the methodological approach utilised in the present study. A video, based on the parent-infant interaction of three families, provides observational data and may be viewed in conjunction with this research. , KMBT_363 , Adobe Acrobat 9.54 Paper Capture Plug-in
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Government debt levels and the systemic risks associated with post-crisis fiscal policies
- Authors: Koekemoer, Jonathan
- Date: 2013
- Subjects: Finance, Public Debts, Public -- South Africa Fiscal policy Monetary policy -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1031 , http://hdl.handle.net/10962/d1004168
- Description: The study analyses the concepts of intergenerational equity and fiscal sustainability in South Africa. The question raised is whether or not South Africa can adopt stimulatory fiscal measures, with a simultaneous increase in debt, so as to improve long-term growth potential in a sustainable manner without creating an excessive burden on future generations. The debate surrounding the use of stimulatory fiscal policy has come to the fore once again as monetary policy has become a restricted and ineffective macroeconomic policy tool in certain countries after the world-wide financial crisis and the Euro-debt crisis. Fiscal sustainability risks and high debt levels remain a source of concern in the United States and the Euro-zone, while South Africa presently seems to be at no great risk. With South Africa’s intention to become a developmental state, the use and appropriateness of fiscal policy is considered. An overlapping-generations model is used to determine whether or not future generations will be burdened due to current stimulatory policy. The use of fiscal rules in South Africa is discussed and considered in light of various political incentives and constraints. The conclusion given is that the possible use of a procedural fiscal rule, such as the ‘golden rule’, may add credibility to the current regime, while a numerical fiscal rule is seen as unnecessary given South Africa’s responsible use of fiscal policy thus far. As it stands, there is little possibility or risk that the public debt in South Africa will become too high in the near future. Although South Africa has been affected by the crisis, the developmental nature of the economy has been sustained through the use of responsible discretionary fiscal policy, putting South Africa in a positive position to meet its long-run growth potential.
- Full Text:
- Authors: Koekemoer, Jonathan
- Date: 2013
- Subjects: Finance, Public Debts, Public -- South Africa Fiscal policy Monetary policy -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:1031 , http://hdl.handle.net/10962/d1004168
- Description: The study analyses the concepts of intergenerational equity and fiscal sustainability in South Africa. The question raised is whether or not South Africa can adopt stimulatory fiscal measures, with a simultaneous increase in debt, so as to improve long-term growth potential in a sustainable manner without creating an excessive burden on future generations. The debate surrounding the use of stimulatory fiscal policy has come to the fore once again as monetary policy has become a restricted and ineffective macroeconomic policy tool in certain countries after the world-wide financial crisis and the Euro-debt crisis. Fiscal sustainability risks and high debt levels remain a source of concern in the United States and the Euro-zone, while South Africa presently seems to be at no great risk. With South Africa’s intention to become a developmental state, the use and appropriateness of fiscal policy is considered. An overlapping-generations model is used to determine whether or not future generations will be burdened due to current stimulatory policy. The use of fiscal rules in South Africa is discussed and considered in light of various political incentives and constraints. The conclusion given is that the possible use of a procedural fiscal rule, such as the ‘golden rule’, may add credibility to the current regime, while a numerical fiscal rule is seen as unnecessary given South Africa’s responsible use of fiscal policy thus far. As it stands, there is little possibility or risk that the public debt in South Africa will become too high in the near future. Although South Africa has been affected by the crisis, the developmental nature of the economy has been sustained through the use of responsible discretionary fiscal policy, putting South Africa in a positive position to meet its long-run growth potential.
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The bank lending and balance sheet channels of monetary policy: a theoretical analysis
- Authors: Gumede, Nomdumiso Beryl
- Date: 2013
- Subjects: Monetary policy Money Bank loans Financial sheets
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:933 , http://hdl.handle.net/10962/d1001864
- Description: The credit channel and its significance in the monetary policy transmission mechanism has been a point of contention among policy makers and economists for many years. In the early stages of this debate the monetarist view shaped thinking on the topic and cultivated the belief that the money supply is exogenously determined and that commercial banks playa minor role in the monetary transmission process. However, over the years, the credit view presented by Bernanke and Blinder (1988) has gained momentum. In contrast to the monetarist view, the credit view abandons the assumption of perfect substitutability and argues that due to their credit provision activities, financial institutions playa significant role in the transmission of monetary policy. The credit channel consists of two sub channels, the bank lending and balance sheet channels. In both, deposits drive loans and changes in monetary policy are effected through interest rates and their impact on borrowers' balance sheets, bank reserves, bank deposits and ultimately the quantity of bank loans supplied. Disyatat (2010) re-examines the conventional view and presents an argument against the foundation upon which the theories are based. Using this as a basis, and motivated by the vast amount of empirical literature that already exists on this topic, both in South Africa and abroad, this research provides a theoretical analysis of the credit channel and its relative importance in the monetary policy transmission mechanism. The exogenous/endogenous nature of money supply is considered and its implications for the existence and operation of the credit channel set out. It is found that, in order for a credit channel to operate efficiently in an economy, money supply should be endogenously determined. Moreover, a theoretical argument supporting Disyatat's (2010) revised credit channel is presented; it is concluded that, with a slight variation to Disyatat's proposed model, a single, unified channel exists.
- Full Text:
- Authors: Gumede, Nomdumiso Beryl
- Date: 2013
- Subjects: Monetary policy Money Bank loans Financial sheets
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: vital:933 , http://hdl.handle.net/10962/d1001864
- Description: The credit channel and its significance in the monetary policy transmission mechanism has been a point of contention among policy makers and economists for many years. In the early stages of this debate the monetarist view shaped thinking on the topic and cultivated the belief that the money supply is exogenously determined and that commercial banks playa minor role in the monetary transmission process. However, over the years, the credit view presented by Bernanke and Blinder (1988) has gained momentum. In contrast to the monetarist view, the credit view abandons the assumption of perfect substitutability and argues that due to their credit provision activities, financial institutions playa significant role in the transmission of monetary policy. The credit channel consists of two sub channels, the bank lending and balance sheet channels. In both, deposits drive loans and changes in monetary policy are effected through interest rates and their impact on borrowers' balance sheets, bank reserves, bank deposits and ultimately the quantity of bank loans supplied. Disyatat (2010) re-examines the conventional view and presents an argument against the foundation upon which the theories are based. Using this as a basis, and motivated by the vast amount of empirical literature that already exists on this topic, both in South Africa and abroad, this research provides a theoretical analysis of the credit channel and its relative importance in the monetary policy transmission mechanism. The exogenous/endogenous nature of money supply is considered and its implications for the existence and operation of the credit channel set out. It is found that, in order for a credit channel to operate efficiently in an economy, money supply should be endogenously determined. Moreover, a theoretical argument supporting Disyatat's (2010) revised credit channel is presented; it is concluded that, with a slight variation to Disyatat's proposed model, a single, unified channel exists.
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The shaman and the artist: a personal enquiry
- Authors: Cull, Cleone
- Date: 1975
- Subjects: Art, Shamanistic Shamans Artists
- Language: English
- Type: Thesis , Masters , MFA
- Identifier: vital:2478 , http://hdl.handle.net/10962/d1010640
- Description: This inquiry incorporates anthropological surveys on the life and character of the shaman, some writings of the American Plains Indians, and artist's, whose life and work reflects the power/life force so integral to the beliefs of these so called primitive cultures. Since the artist cannot be separated from his environment, the actions and reactions of society have also been explored. The method of inquiry has been to establish, first, the way of the shaman, and then the way of the artist. Although each artist, reflects only certain aspects of the enquiry, there is a strong affinity in the life and works of them all.
- Full Text:
- Authors: Cull, Cleone
- Date: 1975
- Subjects: Art, Shamanistic Shamans Artists
- Language: English
- Type: Thesis , Masters , MFA
- Identifier: vital:2478 , http://hdl.handle.net/10962/d1010640
- Description: This inquiry incorporates anthropological surveys on the life and character of the shaman, some writings of the American Plains Indians, and artist's, whose life and work reflects the power/life force so integral to the beliefs of these so called primitive cultures. Since the artist cannot be separated from his environment, the actions and reactions of society have also been explored. The method of inquiry has been to establish, first, the way of the shaman, and then the way of the artist. Although each artist, reflects only certain aspects of the enquiry, there is a strong affinity in the life and works of them all.
- Full Text:
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