This paper informs government policy insofar as it relates to the agricultural and rural development sectors and infrastructure investment within these sectors. The paper first quantifies the role of agriculture in the South African economy. This is done within the context of, inter alia, food...

We establish mathematical equivalence between independence of irrelevant alternatives and monotonicity with respect to first order stochastic dominance. This formal equivalence result between the two principles is obtained under two key conditions. Firstly, for all , each principle is defined on...

The violation of fishing regulations is a criminal activity that leads to depleting fish stock levels across the world. This paper focuses on fishing violations in developing countries. In particular, the paper analyses the use of a fishing net with illegal mesh size in a two regimes, namely a...

This study tests the theory that currency crises are associated with sudden large changes in the structure of foreign exchange market volatility. Due to increases in market uncertainty, crisis periods exhibit abnormally high levels of volatility. By studying short-term changes in volatility...

This paper brings together and adds structure to the empirical literature on the link between banking regulation and banking system stability. In addition to clarifying the theoretical underpinnings for studying banking regulation, it points to several directions for future empirical research,...

This paper endogenizes both market transparency and product differentiation in a model of informative advertising á la Grossman and Shapiro (1984). We find, contrary to Schultz (2004), that an increase in market transparency raises firm profits but has no effect on product differentiation. We...

This paper analyses the impact of income inequality on public good provision in an experimental setting. A sample of secondary school students were recruited to participate in a simple linear public goods game where income heterogeneity was introduced by providing participants with unequal token...

number of studies have contended that it is challenging to explain exchange rate movement with macroeconomic fundamentals. A naive model such as a random walk forecasts exchange rate movements more reliably than existing structural models. This paper confirms that it is possible to improve the...

This paper investigates whether the risk faced by rural farmers in Zimbabwe could potentially be managed by using community-based wildlife conservation. Community-based wildlife conservation could be an additional asset in the rural farmers. investment portfolio thereby potentially diversifying...

This paper aims to construct a new set of institutional indicators for Malawi. Our political freedom index correlates strongly with the Freedom House political rights and civil liberties indices, but consists of a far longer time series, which can be used to examine long-run issues with greater...