In contrast to the international market in major centers such as New York and London, the South African market is distinguished by the presence of a clear market leader, and market follower amongst two auction houses that together virtually exhaust the domestic art market. A central concern of...

This paper explores the reasons for the unbalanced growth structure of South Africa. While a number of emerging markets show a high proportion of value added and employment being generated by the service sector, South Africa is one of very few such economies that also show a strong decline in...

Our investigation of industry structure in South African manufacturing reveals evidence of imperfect competition. We find an average mark-up of 50% for the period 1970 to 2004. Results suggest that there is no consistent trend in the mark-up over time. This paper extends the analysis of industry...

The focus of this paper is on the presence of economies of scale in administering pension funds. We make use of a unique dataset with extensive information on South African retirement funds from 1996 to 2006. For almost fifty years now, South Africa has operated under a system with small social...