DEPARTMENT OF ECONOMICS AND ECONOMIC HISTORY 2009 RESEARCH REPORT
A continued strong demand for post-graduate studies in Economics resulted in growth in student numbers, with
the new honours intake at 52 and Masters in Financial Markets at 15. Several new students also enrolled for
Masters in Economics by full research thesis and PhDs.
The journal publications this year fell broadly in three categories: financial markets, Cultural Economics and
trade policy.
The department had a strong presence at the biennial conference of the South African Economics Society
(ESSA) conference, which was held in Port Elizabeth. Professors Jen Snowball and Gavin Fraser, who serve on
the management committee of the Eastern Cape branch of ESSA, played a major part as members of the
organising committee. Contributions were also made to two Rhodes University initiatives this year: Mr David
Fryer organised the Economics component of the annual “Teach-In” of the Department of Political and
International Studies, while Ms Niki Cattaneo was co-organiser of “China Week”.
The department was successful in its application to the African Economic Research Consortium (AERC) for
research funding, which was twofold: a grant to upgrade the master’s seminar room into a computerised
teaching venue and sponsorship to organise and host a Southern African economic policy workshop. Professor
Meshach Aziakpono led these initiatives. Further external funding for the department came in the form of an
agreement by Mr David Foord of Foord Asset Management to extend his sponsorship of the Foord Chair in
Investments for another three year period from 2010-2012.
The annual postgraduate Economics conference, with support from ESSA and sponsorship by the National
Treasury, was a great success. Participation was also drawn from the University of Fort Hare and the Nelson
Mandela Metropolitan University.
Dr XP Guma, Deputy Governor of the South African Reserve Bank and Visiting Professor in Economics at
Rhodes visited the department in October to deliver his annual postgraduate lectures. Guest lectures were also
given by Mr Clem Sunter (Scenario Planner), Ms Marissa Fassler (National Treasury), Mr Maarten Ackermann
(Citadel), Dr Christo Viljoen (Agricultural Futures Consultant), and Prof Evan Gilbert (University of
Stellenbosch).
PROFESSOR HUGO NEL
HEAD OF DEPARTMENT
BOOKS/CHAPTERS/MONOGRAPHS
Cattaneo,NS
Cattaneo,NS. "Trade integration, production networks and the services sector: implications for regional trade
agreements in southern and eastern Africa". In: Monitoring regional integration in Southern Africa. Trade Law
Centre for Southern Africa. Stellenbosch. First Edition. 2008. 5-33. ISBN: 978-0-9814221-2-1.
Mutambara,TE
Mutambara,TE. "Regional transport challenges within the Southern Africa development community and their
implications for economic integration and development". In: Monitoring regional integration in Southern Africa.
Trade Law Centre for Southern Africa. Stellenbosch. First Edition. 2008. 34-54. ISBN: 978-0-9814221-2-1.
PUBLICATIONS RESEARCH JOURNALS IN ABSTRACT AND/OR FULL PAPER
Akinkugbe,O
Akinkugbe,O and Mohanoe,M. "Public health expenditure as a determinant of health status in Lesotho". Social
Work in Public Health. 2009. 24(1&2),131-147.
Aziakpono,MJ
Aziakpono,MJ, Burger,P and Du Plessis,S. "Is financial integration a complement or substitute to domestic
financial development in a developing country? Evidence from the SACU countries". Studies in Economics and
Econometrics. 2009. 33(3),39-67.
Cattaneo,NS
Cattaneo,NS. "Production networks, economic integration and the services sector: implications for regional
trade agreements in southern Africa". Journal of Contemporary African Studies. 2009. 27(4),527-546.
Chinzara,Z and Aziakpono,MJ
Chinzara,Z and Aziakpono,MJ. "Integration of the South African equity market into the world major stock
markets: implication for portfolio diversification". African Finance Journal. 2009. 95-119.
Chinzara,Z and Aziakpono,MJ. "Dynamic returns linkages and volatility transmission between South African
and world major stock markets". Studies in Economics and Econometrics. 2009. 33(3),69-94.
Fraser,GCG
Baiyegunhi,LJS and Fraser,GCG. "Profitability in sorghum production in threee villages of Kaduma State
Nigeria". Journal of Applied Sciences Research. 2009. 5(10), www.insipub.com/jasr/.
Jari,B and Fraser,GCG. "An analysis of institutional and technical factors influencing agricultural marketing
amongst smallholder farmers in the Kat River Valley, Eastern Cape Province, South Africa". African Journal of
Agricultural Research. 2009. 4(11), www.academicjournals.org/ajar.
Karoro,T, Aziakpono,MJ and Cattaneo,NS
Karoro,T, Aziakpono,MJ and Cattaneo,NS. "Exchange rate pass-through to import prices in South Africa: is
there asymmetry?". South African Journal of Economics. 2009. 77(3),380-398.
Mutambara,TE
Mutambara,TE. "Regional transport challenges within the Southern African development community and their
implications for economic integration and development". Journal of Contemporary African Studies. 2009.
27(4),501-525.
Snowball,JD
Snowball,JD, Jamal,M and Willis,KG. "Cultural consumption patterns in South Africa: an investigation of the
theory of cultural omnivores". Social Indicators Research. 2009. Online First (September),1-17.
Willis,KG and Snowball,JD. "Investigating how the attributes of live theatre productions influence consumption
choices using conjoint analysis: the example of the National Arts Festival, South Africa". Journal of Cultural
Economics. 2009. 33,167-183.
Palmer,RM and Snowball,JD. "The willingness to pay for dusky kob Argyrosomus japonicus restocking: using
recreational linefishing licence fees to fund stock enhancement in South Africa". ICES Journal of Marine
Science. 2009. 66,839-843.
OTHER PUBLICATIONS
Cattaneo,NS
Cattaneo,NS. "Services aspects of regional trade agreements". In: Trade Law Centre for Southern Africa
newsletter 16 September. Hartzenberg, T (Ed) Trade Law Centre for Southern Africa (Tralac). Stellenbosch.
2009. 0(0), 1-5. ISBN:
Keeton,G
Keeton,G. "Between a rock and a hard place". In: FM campus.
Keeton,G. "Did the budget do enough to deal with the financial crisis?". In: FM campus.
Keeton,G. "Is protectionism (as is being advocated by the US government) the way to economic recovery?". In:
FM campus.
Keeton,G. "Reweighting of the inflation basket - is it effective and will it achieve what it set out to do?". In: FM
campus.
Keeton,G. "Should a country's mines be nationalised for greater social equity?". In: FM campus.
Keeton,G. "Should the competition commission be stricter on anti-competitiveness?". In: FM campus.
Keeton,GR. "Adopting the rand not the answer for Zimbabwe". In: Business Day. Bruce, P (Ed) BDFM
Publishers. Johannesburg. 2009. 12 February.
Keeton,GR. "Exploring alternative routes to a weaker rand". In: Business Day. Bruce, P (Ed) BDFM Publishers.
Johannesburg. 2009. 18 December.
Keeton,GR. "Global experiences of tackling hyperinflation: tentative lessons for Zimbabwe". In: Brenthurst
Discussion Paper. Mills, G (Ed) The Brenthurst Foundation. Johannesburg. 2009.
McNulty,A
McNulty,A. "Zimbabwe: cure is possible but painful". In: FM campus.
Snowball,JD
Snowball,JD. "Book review: 'The heritage game' by Alan Peacock and Ilde Rizzo". Journal of Cultural
Economics. Snowball, J (Ed) Springer. The Netherlands. 2009. 33(4), 321-324. ISBN: 0885-2545.
RESEARCH PAPERS PRESENTED AT ACADEMIC/SCIENTIFIC CONFERENCES
(PROCEEDINGS, BOOKLETS and ATTENDANCE)
i. Local Conferences
Antrobus,G and Achtzehn,MH
Antrobus,G and Achtzehn,MH. "Economic motivations for volunteering: a case study". Economic Society of
South Africa Conference 2009. Feather Market Centre, Port Elizabeth. South Africa. September 2009.
Aziakpono,MJ
Aziakpono,MJ and Khomo,MM. "Monetary policy and the predictive power of the yield spread in South
Africa". Economic Society of South Africa Conference 2009. Feather Market Centre, Port Elizabeth. South
Africa. September 2009.
Aziakpono,MJ and Wilson,M. "Interest rate pass-through and monetary policy regimes in South Africa".
Economic Society of South Africa Conference 2009. Feather Market Centre, Port Elizabeth. South Africa.
September 2009.
Aziakpono,MJ and Barnor,JA
Aziakpono,MJ and Barnor,JA. "An analysis of money market linkages between South Africa and selected major
world economies". Economic Society of South Africa Conference 2009. Feather Market Centre, Port Elizabeth.
South Africa. September 2009.
Aziakpono,MJ, Nel,H and Moyo,SS
Aziakpono,MJ, Nel,H and Moyo,SS. "A comparative analysis of the divisia index and the simple sum monetary
aggregates for South Africa". Economic Society of South Africa Conference 2009. Feather Market Centre, Port
Elizabeth. South Africa. September 2009.
Cattaneo,NS
Cattaneo,NS. "Trade integration, production networks and the services sector: implications for regional trade
agreements in southern and eastern Africa". Annual Trade Law Centre for Southern Africa Conference.
Commodore Hotel Conference Centre, Cape Town. South Africa. September 2009.
Chinzara,Z
Chinzara,Z. "Transmission of volatility from the US to SA during the sub-prime financial crisis". Southern
African Finance Association Conference. UCT Graduate Business School, Cape Town. South Africa. January
2009.
Fraser,GCG
Fraser,GCG. "Poverty incidence among rural households in the Eastern Cape Province, South Africa".
Economic Society of South Africa Conference. Feather Market Convention Centre, Port Elizabeth. South Africa.
September 2009.
Fraser,GCG. "Credit constraint and household welfare in the Eastern Cape province, South Africa".
Agricultural Economics Association of South Africa Conference. Elangeni Hotel, Durban. South Africa.
September 2009.
Fraser,GCG. "Determinants of household food security in the semi-arid areas of Zimbabwe: a logistic
regression analysis of irrigation and non-irrigation farmers, Matebeleland". Agricultural Economics Association
of South Africa Conference. Elangeni Hotel, Durban. South Africa. September 2009.
Fraser,GCG and Hill,MP. "A cost benefit analysis of managing Opuntia stricta in the Kruger National Park,
South Africa". Environmental and Resource Economics Conference. Ritz Hotel and Conference Centre, Cape
Town. South Africa. May 2009.
Mbatha,CN and Antrobus,GG
Mbatha,CN and Antrobus,GG. "Prices and market structure in South Africa's land reform: a case study of
northern KwaZulu-Natal sugarcane farms". Agricultural Economics Association of South Africa. Elangeni
Hotel, Durban. South Africa. September 2009.
Roberts,T
Roberts,T. "Farm wages and working conditions in the Albany district 1957-2008". Economic Society of South
Africa Conference 2009. Feather Market Centre, Port Elizabeth. South Africa. September 2009.
Snowball,JD
Poor,PJ and Snowball,JD. "The valuation of campus built heritage from the student perspective: comparative
analysis of Rhodes University in South Africa and St. Mary's College of Maryland in the United States".
Economic Society of South Africa Conference 2009. Feather Market Centre, Port Elizabeth. South Africa.
September 2009. Programme.
RESEARCH PAPERS PRESENTED AT ACADEMIC/SCIENTIFIC CONFERENCES
(PROCEEDINGS, BOOKLETS and ATTENDANCE)
ii. International Conferences
Fraser,GCG
Fraser,GCG. "Panel discussion member". Bioenergy for Sustainable Development in Africa: Lessons Learnt
from COMPETE. Hilton Hotel, Brussels. Belgium. January 2009.
Snowball,JD
Snowball,JD, Jamal,M and Willis,KG. "Cultural consumption patterns in South Africa: an investigation of the
theory of cultural omnivores". 9th Conference of the International Society of Quality of Life Studies. Instituto
Degli Innocenti, Florence. Italy. July 2009.
JOURNAL SUBSIDY UNITS
ECONOMICS
Cattaneo,NS
Cattaneo,NS. "Production networks, economic integration and the services sector:
implications for regional trade agreements in southern Africa". Journal of Contemporary
African Studies. 2009. 27(4),527-546.
Chinzara,Z and Aziakpono,MJ
Chinzara,Z and Aziakpono,MJ. "Integration of the South African equity market into the
world major stock markets: implication for portfolio diversification". African Finance
Journal. 2009. 95-119.
Fraser,GCG
UNITS
1.00
1.00
Jari,B and Fraser,GCG. "An analysis of institutional and technical factors influencing
agricultural marketing amongst smallholder farmers in the Kat River Valley, Eastern Cape
Province, South Africa". African Journal of Agricultural Research. 2009. 4(11),
www.academicjournals.org/ajar
Karoro,T, Aziakpono,MJ and Cattaneo,NS
Karoro,T, Aziakpono,MJ and Cattaneo,NS. "Exchange rate pass-through to import prices in
South Africa: is there asymmetry?". South African Journal of Economics. 2009. 77(3),380398.
Mutambara,TE
Mutambara,TE. "Regional transport challenges within the Southern African development
community and their implications for economic integration and development". Journal of
Contemporary African Studies. 2009. 27(4),501-525.
Snowball,JD
Snowball,JD, Jamal,M and Willis,KG. "Cultural consumption patterns in South Africa: an
investigation of the theory of cultural omnivores". Social Indicators Research. 2009. Online
First(September),1-17.
Willis,KG and Snowball,JD. "Investigating how the attributes of live theatre productions
influence consumption choices using conjoint analysis: the example of the National Arts
Festival, South Africa". Journal of Cultural Economics. 2009. 33,167-183.
Palmer,RM and Snowball,JD. "The willingness to pay for dusky kob Argyrosomus japonicus
restocking: using recreational linefishing licence fees to fund stock enhancement in South
Africa". ICES Journal of Marine Science. 2009. 66,839-843.
TOTAL FOR ECONOMICS
BOOKS SUBMITTED FOR POSSIBLE SUBSIDY
TITLE OF BOOK
TITLE OF CONTRIBUTION IN BOOK
Monitoring regional integration in
Trade integration, production networks and the
Southern Africa
services sector: implications for regional trade
agreements in southern and eastern Africa
Monitoring regional integration in
Regional transport challenges within the Southern
Southern Africa
Africa development community and their
implications for economic integration and
development
0.50
1.00
1.00
0.34
0.50
0.50
5.84
AUTHOR(S)
Cattaneo, NS
Mutambara, TE