School of Economics and Finance (ETDs)

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Start date: 2021Subject: search.filters.subject.South Africa

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    Associations between economic preferences and behavioural health intentions among young adults living in an informal settlement
    (University of the Witwatersrand, Johannesburg, 2023-03) Andrady, Wayne Jude; Booysen, Frikkie
    The emergence of non-communicable diseases in South Africa, most notably among the urban poor, is resulting in an increased burden of diseases. Since NCDs can develop in distinct periods of the life course, post-adolescence-intentions to engage in health behaviours need to be investigated. Furthermore, there is consistent evidence that health behaviours are associated with economic preferences. Yet, it is unclear whether economic preferences are also associated with behavioural health intentions. Objectives: The study aims to examine how risk-taking and patience are associated with behavioural health intentions among young adults in a poor informal urban settlement in South Africa. The study also explores whether there are gender differences in behavioural health intentions and whether these economic preferences contribute to gender gaps in behavioural health intentions. Data and Methods: The study utilized secondary survey data collected from a sample of 240 young adults using a structured questionnaire. The study collected data on behavioural intentions for seven health- protective and health-harming behaviours. Risk-taking and patience are measured using qualitative, quantitative and combined measures from the Global Preference Survey. Ordered probit and seemingly unrelated regression models were estimated and t-tests were employed to quantify gender gaps, followed by the Blinder-Oaxaca decomposition analysis. Findings The study reveals that economic preferences have a moderate association with behavioural health intentions among young adults. However, these results seem contradictory to priori expectations and further research is required. Our findings emphasize the importance of recognizing and addressing the limitations associated with imperfect measures of economic preferences when investigating their association with health behavioural intentions
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    Perceived returns to mathematics and student achievement: the South African case
    (University of the Witwatersrand, Johannesburg, 2023) Gamieldien, Mohamed Faarez; Casale, Daniela
    This study investigates the relationship between students’ perceived returns to mathematics – the future benefits a student believes they will obtain from studying mathematics – and mathematics achievement in South Africa. The study expands the scarce literature on the role of non-cognitive skills (and specifically extrinsic motivation) in education in South Africa. The 2019 Trends in International Mathematics and Science Study (TIMSS) South Africa dataset was used to perform Ordinary Least Squares (OLS), Instrumental Variable (IV), and Fixed Effects (FE) estimations of the model. The study finds that perceived returns to mathematics has a positive and statistically significant relationship with mathematics achievement. Further, it was found that the positive relationship that intrinsic motivation has with mathematics achievement is increased when perceived returns to mathematics is high, but that students with low intrinsic motivation for mathematics do not perform significantly differently when their perceived returns to mathematics is higher. This provides important insight into the interaction between different types of cognitive skills. Additionally, high perceived returns to mathematics had a large and significant positive relationship with mathematics achievement for students in rural schools, and the positive relationship between perceived returns to mathematics and mathematics achievement shrunk as one progressed to a more urban school location. This shows that perceived returns to mathematics matter more for students in challenging circumstances, but, importantly, the study finds that students with high perceived returns to mathematics in rural schools still perform worse than students with low perceived returns to mathematics in urban schools. This is an important finding in the South African context where gross inequalities in education persist: non-cognitive skills are important for educational achievement, but more needs to be done to improve the functionality of poor schools in South Africa
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    The impact of COVID-19 on the Gender Wage Gap in South Africa
    (University of the Witwatersrand, Johannesburg, 2023-06) Ngcobo, Khwezi
    The COVID-19 pandemic resulted in large distributional changes in the South African labour market. Prior to the pandemic, South African women were compensated less relative to South African men. This paper applies the Oaxaca-Blinder decomposition to investigate the impact of the COVID-19 pandemic on the gender wage gap between February 2020, April 2020, June 2020 and March 2021. Results indicate that the COVID-19 pandemic widened the existing monthly gender wage gap, while barely altering the hourly wage gap over the given period. The study finds that the main contributor to the gender wage gap is discrimination in the South African labour market. Key variables that contributed to the discrimination component across all periods are population group and having children aged below 7 years. Gender differences in the composition of the employment sector, having young children and hours of work also significantly contributed to the gender wage gap. These results suggest a need for gender- sensitive policies to improve the labour market position of disadvantaged individuals
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    A gendered analysis of labour market outcomes in South Africa during Covid-19: Evidence from the Quarterly Labour Force Survey
    (University of the Witwatersrand, Johannesburg, 2023-06-22) Selman, Cheryl-Lyn; Casale, Daniela
    The global financial crisis of 2008-2009 disproportionately affected men’s employment. As has been the case in previous economic slumps, industries like manufacturing which predominantly employed men, experienced deeper declines (Mosomi et al 2020). However, soon after the Covid-19 pandemic started spreading globally, early predictions were that women would be hit harder by the Covid-19 crisis than men, because of the kinds of sectors (i.e. industries) and jobs (i.e. less secure, part-time, not UIF registered etc.) in which women dominated (Alon et al 2020; Dingel and Neiman 2020; Joyce and Xu 2020, Mongey and Weinberg 2020; Mosomi et al 2020), and also because of their role in childcare. Growing empirical research suggested this was indeed the case. In addition, women’s employment was slower to recover than men’s as economies reopened (Mosomi et al 2020, Casale and Shepherd 2021), and pre-Covid inequalities had worsened (Casale and Shepherd 2021). The gender gap persisted, even once occupation fixed effects and the proportion of work-from-home tasks as well as education had been used to account for individual differences in workforces in the UK and US (Adams- Prassl et al 2020).
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    Oil shocks and macroeconomic policy uncertainty in South Africa
    (University of the Witwatersrand, Johannesburg, 2023) Makanda, Samantha; Fasanya, Ismail
    The study reevaluates the connection between oil shocks and macroeconomic policy uncertainty in South Africa over the period of 1990M1 to 2022M6 using spillover connectedness frameworks and Quantile-on-quantile regression analysis. The link between oil shocks andmacroeconomy rests on the Neoclassical theory following the Hamilton (2005) production function framework. The following findings are apparent from the analysis. First, the average- based connectedness framework shows a moderate connection between oil shocks and macroeconomic policy uncertainty parameters. Economic policy uncertainty and political uncertainty exhibit the most prominent bi-directional spillovers, while political uncertainty and oil consumption demand shocks function as net spillover transmitters. However, using the quantile approach, the level of connectedness between oil shocks and macroeconomic policy uncertainty parameters is stronger and much higher at both tails of the conditional distribution. Specifically, the study finds that macroeconomic policy uncertainty parameters act as net receivers at lower quantiles, while all the oil shocks and financial policy uncertainty act as net receivers at median quantiles, and economic activity shocks and oil inventory demand shocks act as net receivers at upper quantiles. Thus, the application of the average based framework of connectedness is inadequate and restrictive. Finally, using the Quantile-on-Quantile regression analysis, the results demonstrate a substantial positive (negative) relationship between the upper quantiles of oil shocks and the lower (upper) quantiles of macroeconomic policy uncertainty. These findings suggest that policymakers keep an eye on the repercussions of oil shocks on macroeconomic conditions and develop monitoring frameworks that will help to predict the likely effects of external shocks emanating from oil. Simultaneously, investors should contemplate modifying their investment strategy regarding the circumstances and keep an eye on oil prices, government policies, and economic indicator
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    Income related health inequalities associated with Covid 19 pandemic in South Africa: evidence from wave 4.
    (University of the Witwatersrand, Johannesburg, 2023-05-26) Zulu, Abongile; Oyenubi, Adeola
    Even though there have been some observable significant developments within the average level of diseases and rates of mortalities in many nations (developed and developing), health inequalities that exist within and between various nations, within social groupings and different religious groups have expanded in the last years (CSDH/WHO, 2007). Respectively, this increase in health inequalities has been a growing concern for many governments across the world. Also, civil society organisations and other organisations operating internationally have been more concerned on how they would go about reducing these inequalities (CSDH/WHO, 2007). On this point, the World Health Organisation has noted previously that the most efficient way for health care sector to contribute to the lessening or reduction of disparities existing in health is by establishing a good systems and procedures of primary health care. The contribution of a well established primary health care system is through the realization of various mediations in order to deal with the social determining factors, and these are social and economic conditions that are inclusive of the health care system structure that is influenced by resources, power and the distribution of money that consequently influence separate and group differences existing within the status of health (Burger & Christian, 2018). The most recent available evidence suggests that primary health care principles and values, equity in health, people centred care and subsequently a most important part for communities in health action can answer to the prospects and challenges faced by the modern-day societies (NICD, 2020)
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    Analysis of cultural identity mix within Chinese banks operating in South Africa
    (University of the Witwatersrand, Johannesburg, 2023-04) Mongalo, Theodora Thandekile; Volker, Cordelia
    Banking in South Africa has evolved with the internationalisations of banks over the years. As at 31 December 2021, there were 31 banks operating in South Africa. Of these, 13 were local branches of foreign banks, employing both home and host country nationals. The blend of nationalities in these banks results in a cultural mix. The aim of the study is to understand structural consensus in a setting that has a cultural mix. The structural consensus theory states that socialisation within a setting is guided by rules and behaviour, and these form the culture in the setting. To understand this, the researcher analysed the cultural identity mix in a Chinese bank operating in South Africa, guided by the work- related cultural dimensions used in studies of cross cultures. The cultural dimensions were applied to communication, conflict management, decision making, leadership and employee satisfaction. The study followed a deductive approach, on a single case study which allowed the researcher deep engagement with participants. Qualitative data was collected by way of semi-structured interviews from participants, representative of the cultural identity mix in the case. Focus was on understanding how cultural values affect communication, conflict and conflict management, decision making and leadership support. The aim of the researcher was to verify whether the assumption in the literature on cultural dimensions hold, in the selectedcase and how / if there is cultural consensus and social consensus. The data collected was analysed through the application of Colaizzi’s strategy, a data analysis method that allows for exhaustive approach to understanding the everyday lived experience in a social setting. The study reveals some similarities and some differences in the cultural values and beliefs of Chinese and South Africans. The two national cultures were found to display different values when communicating. These differences create barriers to social order. The cultural identity mix further displayed conflicting values in their approach to conflict and conflict management. The adopted values to conflict and conflict management are those of the Chinese culture and this creates an illusion of social order. Hierarchy was found to play an important role in decision making and involvement in the decision making process. Both cultures displayed respect for hierarchy and therefore there was social order when it comes to decision and decision making. Leadership and the support they offer was situational and supported the theory that states that leaders create a culture within an organisation. The outcomes of the study will contribute to existing literature and close gaps in existing literature. The first contribution is that culture is innate, secondly cultural dimensions can be partially used to explain cultural values, but they necessarily reflect the values of individuals. The study also provides support that culture is learnt and this results in tools for cultural and social consensus where there is a cultural identity mix. Another contribution of the study is the understanding of the Chinese and South African national culture, and emphasis on the strong cultural values of Confucianism for Chinese and Ubuntu for South Africans. Future research is recommended to focus on limitations of the study which include a replication of the study on a different population in order to add to the dependability and credibility of the results. Another recommendation is for a study that distinguishes between the various sub- cultures within the blanket South African culture
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    Carbon Footprint Inequality in South Africa
    (University of the Witwatersrand, Johannesburg, 2023) Krinsky, Jezri; Isaacs, Gilad
    As the effects of climate change and other ecological crises worsen, numerous attempts have been made to apportion individual responsibility, or ecological footprints, to find effective and just ways to reduce ecological damage. Massive inequalities exist in the responsibility for, and consequence of, ecological damage. So, a just transition must identify how ecologically damaging consumption patterns may be reduced, in ways which do not adversely affect lower-income and other marginalised groups. However, although a significant proportion of carbon emissions may be accounted for in terms of household consumption, these patterns of household consumption are deeply influenced by wider social, political, and economic forces, in larger systems of provisioning. This study estimates and examines the patterns of household carbon footprints within South Africa and explores the link between carbon footprint inequality and income inequality and energy poverty; and how these patterns and links are shaped by systems of provision for carbon intensive consumer good
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    Herding Behaviour and Equity Market Liquidity in the Johannesburg Stock Exchange
    (University of the Witwatersrand, Johannesburg, 2023) Rip, Kyle Christopher; Britten, James
    This study tests the relationship between equity market liquidity and herding behaviour in the aggregate market portfolio in a South African context and found evidence of herding behvaiour when conditioned on liquidity. The “aggregate market portfolio” refers to the average consensus of all market constituents- in this case the JSE. The analysis is performed through liquidity quartiles on the whole sample period as well as in specific sub-periods with alternative measures of liquidity. The sample period covers January 2000 to December 2021. The results show that a higher level of equity market liquidity is associated with an increase in the tendency for investors to herd towards the market consensus (reduced return dispersions as a result of clustering around the mean market return). However, this research shows that the relationship is dependent on the time period analysed and that the relationship may no longer hold when the relative level of market liquidity (the distribution of daily market liquidity levels) changes
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    Is there a financial Kuznets curve for South Africa?
    (University of the Witwatersrand, Johannesburg, 2023-02-28) Basitere, Louisa Maria; Mondi, Lumkile
    This research report analyses the impact of financial sector development on Income inequality in South Africa for the period 1990 - 2021. The research report employs the Autoregressive Distributed Lag (ARDL) using data sourced from the South African Reserve Bank (SARB) and the World Inequality Database. The report finds that there is no evidence of a financial Kuznets curve for South Africa for the period of the study. The report adds to the sparse literature on the nexus between financial sector development and income equality in South Africa by using an index formulated using Principal Component Analysis (PCA) as a proxy for financial sector development and considering the impact of Social protection expenditure. Social protection expenditure, mostly in the form of cash social grants, is used the by South African government as one of the levers to address income inequality in the country