Working Paper
Modelling growth scenarios for biofuels in South Africa’s transport sector
South Africa has a nascent biofuels industry and emerging regulatory framework, and although water scarcity limits local supply potential, that of the southern African region appears substantial. This paper describes the results and modelling...
Working Paper
A Theory of Association
The utility from some 'commodities' depends on the allocation rule used to distribute it. If, for example, a prize for excellence in some field is given frequently to the highest bidders, its recipients would feel less happy than they would otherwise...
Working Paper
South-North Challenges in Global Forestry
Several types of transitions are operating in global forestry in the late twentieth century. These include the forest-management transition and the forest-area transition, as well as shifts in forest perceptions and forestry paradigms. A trend...
Working Paper
What sustains informality?
We consider two vertical links between informal- and formal-sector firms and study their implications. In one case, the final products produced by the formal- and informal-sector firms are vertically differentiated in terms of quality, and the size...
Working Paper
Income and price elasticities of demand in South Africa
This paper investigates the expenditure patterns of South African households using detailed cross-sectional expenditure and price data. Linear expenditure system (LES) parameter estimates are used to calculate income and price elasticities for a...
Working Paper
Profit Squeeze and Keynesian Theory
This chapter explores one aspect of the relationship between the system of production and the macroeconomic structure, namely, the role of profitability in determining investment demand and the level of economic activity. Within the system of...
Working Paper
Macroeconomic Policies for Growth in Small Pacific Island Economies
This paper examines macroeconomic performance and policies in small Pacific island economies (SPIEs). These economies are highly prone to various supply shocks and face severe obstacles to development arising from their geography and demography...
Journal Special Issue
The New Economy in Growth and Development
The benefits from the New Economy should accrue as improvements in productivity and economic growth. But while the use of information and communication technology (ICT) seems to have had a substantial impact on the performance of the United States...
Working Paper
The EU's Everything But Arms Initiative and the Least-developed Countries
Using a computable general equilibrium simulation model and partial equilibrium simulations, based on the SMART model, the paper attempts to assess the aggregate worldwide distribution of gains and losses of the EU’s Everything But Arms (EBA)...
Working Paper
China's Business Cycles
This paper represents a first attempt to study China’s business cycles using a formal analytical framework, namely, a structural VAR model. It is found that: (a) demand shocks were the dominant source of macroeconomic fluctuations, but supply shocks...
Working Paper
New Economy in Growth and Development
The benefits from the New Economy should accrue as improvements in productivity and economic growth. But while the use of information and communication technology seems to have had a substantial impact on the performance of the United States economy...
Working Paper
Trade with China and India and Manufacturing Labour Demand in Argentina
For many in Latin America, the increasing participation of China and India in international markets is seen as a looming shadow of two ‘mighty giants’ on the region’s manufacturing sector. Are they really mighty giants when it comes to their impact...