co-integration tests and the studies on South Africa primarily using short-span data from the post-Bretton Woods era, we … Dollar using annual data from 1910 – 2010. The results provide some support for the monetary model in that long-run co-integration …

fractional integration and cointegration techniques to account for high persistence in the series. We find evidence of fractional … cointegration between saving and investment, indicating some degree of persistence in the gap between the two variables. We also … financial deregulation process in South Africa. While fractional cointegration holds before the break, it does not thereafter …