We investigate nontradable and tradable identical Treasury derivatives. The nontradability premium is statistically and economically significant, and it covaries positively with interest rate volatility and relative tightness in the markets. Our data offer an almost-perfect laboratory to study...

Event history analysis seems ideally suited for the analysis of World Fertility Survey, WFS, data, which consists of full birth histories and related information, but it has not been much used for this purpose. This may be because event history analysis has practical drawbacks for WFS data,...

The South African government is seeking to shift the economy from being efficiency driven toward being more knowledge-intensive. Noting that the economy is dominated by services we examine research and development (R&D) and innovation in the sector using data from the national R&D and innovation...

The paper examines how the South African national system of innovation (NSI) has evolved through the transition from apartheid to democracy. To provide structure to this analysis Kim's 1998 concept of the ‘constructed crisis’ in firms is applied at the level of the state. This schema is...

This article explores major evolution stages of innovation policy in South Africa which is now in transition to constitutional democracy. The author seeks to identify prerequisites for the new innovation system in the country and to understand the role of the government and the Ministry of...

The proposed material is unique because it evaluates the results of a Foresight project after the expiry of the planned time horizon - 10 years. It is shown that Foresight had very limited impact on national innovation policy. Although it contributed to the development of consensus among...

The 20th Century saw substantive shifts in the structure of agriculture and agricultural production in South Africa. Farm size grew, farm numbers eventually declined, and production increasingly emphasized higher-valued commodities, notably a range of horticultural crops. The real gross value of...