Suchergebnisse

One of the core objectives of economic development is to improve people's standards of living. However, both standards of living and consumption expenditures are often determined by disposable income, crude oil prices and exchange rate volatility. The current paper employed quarterly time series data from 2002 to 2020 to analyse the responsiveness of household consumption expenditure to the petrol price, disposable income and exchange rate volatility in South African. The empirical outcome suggested that a long-run relationship exists between variables under consideration. Additionally, the current level of consumption expenditure was found to be determined by income level and exchange rate volatility whilst changes in petrol price had no significant effect on short-term consumption expenditure. Based on these findings, the study suggests that the South African policymakers and government authorities implement policies and strategies that enhance both household income and exchange rate. Those strategies may include strengthening the country's currency, production improvement, inflation rate reduction, and the creation of job opportunities.

Abstract
The manufacturing sector is one of the backbones of the South African economy, and yet is one of the economic sectors facing challenges in job creation. This study analysed the long-run and short-run effects of aggregate expenditure components on job creation in the South African manufacturing sector. A Vector Autoregressive (VAR) with Johansen co-integration approach was used to analyse quarterly data from 1994 to 2015. The findings are that there is a long-run relationship between aggregate expenditure and job creation in the South African manufacturing sector, with government and investment spending being the major components of aggregate expenditure that create jobs in the South African manufacturing sector. Conversely, consumption spending destroys jobs in the manufacturing sector, while net exports have no significant effect on job creation. The short-run relationship between variables was not significant. Recommendations are that more effort should be put into investment spending, and government should spend more on investment than on consumption spending - in order to increase job creation in the manufacturing sector.

A country's political stability and trends in economic growth are important factors to attract foreign investment. Most developing countries struggle to achieve political stability and high levels of growth. Due to these issues, developing countries attract limited foreign investment. Applying the Bounds test for cointegration, an ARDL model was utilized using time series data from 1995 to 2016, this study examined the potential impact of political risk and gross domestic product (GDP) on foreign direct investment (FDI) flows to the South Africa. Findings of the study revealed that in both short and long run, political risk and economic growth affect the level of foreign direct investment. The political risk rating was found to have a higher impact on FDI flow if compared to GDP. The lower the political risk level (resulting in a highly rated index), the higher the level of FDI inflows. Using the Granger causality approach, empirical results indicated a bi-directional causal relationship between FDI and economic growth, while it was found that political risk causes changes in FDI. In other words, individually, political risk and gross domestic product cause changes in FDI. Based on the study findings, it is imperative for the South African government to reduce the level of political risk in order to increase foreign investment into the country which, in return, could assist in economic growth and welfare.

The current study has been designed to analyse the interactions between real government spending and job creation in South Africa focusing on five major economic sectors, namely construction, financial, manufacturing, mining, and retail sectors. The main objective of the study was to determine how job creation in different economic sectors responds to changes in real government spending. To achieve this objective, the study used five different autoregressive distributed lag (ARDL) models to analyse the long-run and shot-run relationships between government spending and employment rate in each of the aforementioned five economic sectors. The sample period consisted of quarterly observations starting from the first quarter of 1994 to last quarter of 2015. The study found a long-run relationship between government spending and job creation in the mining sector but there was no evidence of long-run relationships between government spending and jobs creation in construction, financial, manufacturing, and retail sectors. The short-run analysis showed that government spending could create jobs in all five sectors. This paper concluded that increasing government spending can only create short-term jobs but does not create lasting jobs in most sectors, except the mining sector. To increase the number of durable jobs, the South African government should therefore increase spending on mining sector.

The current study has been designed to analyse the interactions between real government spending and job creation in South Africa focusing on five major economic sectors, namely construction, financial, manufacturing, mining, and retail sectors. The main objective of the study was to determine how job creation in different economic sectors responds to changes in real government spending. To achieve this objective, the study used five different autoregressive distributed lag (ARDL) models to analyse the long-run and shot-run relationships between government spending and employment rate in each of the aforementioned five economic sectors. The sample period consisted of quarterly observations starting from the first quarter of 1994 to last quarter of 2015. The study found a long-run relationship between government spending and job creation in the mining sector but there was no evidence of long-run relationships between government spending and jobs creation in construction, financial, manufacturing, and retail sectors. The short-run analysis showed that government spending could create jobs in all five sectors. This paper concluded that increasing government spending can only create short-term jobs but does not create lasting jobs in most sectors, except the mining sector. To increase the number of durable jobs, the South African government should therefore increase spending on mining sector.

Jobs are the pillars of the economy and aggregate expenditure is among the key factor used to create an employment stimulating environment. This study scrutinizes the relationship between the component of aggregate expenditure and job creation in South Africa form 1995 to 2014. The Vector Autoregressive (VAR) model and multivariate co-integration approach were employed to examine how household consumption, government, investment and export expenditures affect job creation in South Africa. Findings of this study revealed that there is long-run relationship between aggregate expenditure and job creation with government and investment expenditure being the key determinants of job creation in South Africa. Contrary to priori expectation, consumption and exports do not improve jobs creation in South Africa. In the short-run, there are no significant interactions between components of aggregate expenditure and job creation. This study provided recommendation that may assist in boosting job creation in South Africa. ; http://www.virtusinterpress.org/TIME-SERIES-ANALYSIS-OF.html ; http://dx.doi.org/10.22495/jgr_v4_i4_c5_p11

Jobs are the pillars of the economy and aggregate expenditure is among the key factor used to create an employment stimulating environment. This study scrutinizes the relationship between the component of aggregate expenditure and job creation in South Africa form 1995 to 2014. The Vector Autoregressive (VAR) model and multivariate co-integration approach were employed to examine how household consumption, government, investment and export expenditures affect job creation in South Africa. Findings of this study revealed that there is long-run relationship between aggregate expenditure and job creation with government and investment expenditure being the key determinants of job creation in South Africa. Contrary to priori expectation, consumption and exports do not improve jobs creation in South Africa. In the short-run, there are no significant interactions between components of aggregate expenditure and job creation. This study provided recommendation that may assist in boosting job creation in South Africa. ; http://www.virtusinterpress.org/TIME-SERIES-ANALYSIS-OF.html ; http://dx.doi.org/10.22495/jgr_v4_i4_c5_p11

The influence of macroeconomic variables on aspects of business and the country's economy has been a subject of robust discussion. This study was conducted to identify the effect of macroeconomic variables, namely inflation rate, economic growth, exchange rate and share price, on listed companies in South Africa. The goal was to study the long run and short run effects of macroeconomic volatility on company performance because of the world's recent pandemic experience. To achieve this objective, the study applied the panel Autoregressive Distributed Lag (ARDL) model on annual panel data from 2010 to 2020 to analyse the short run and long run effects of macroeconomic variables on a company's performance. The study results suggested a positive impact of economic growth, exchange rate and share price on asset returns, whilst a company's equity return is supported by economic growth and share price in the long run. The short run revealed that none of the independent variables has a sufficiently significant effect to influence a company's performance changes in the short run. Based on the findings, it was recommended that policymakers and economic authorities should introduce and implement strategies that favour and enhance the country's economic growth and stable exchange rate in order to improve company performance. Additionally, given that the company's short-run performance may highly depend on internal factors such as corporate governance, internal policies and business strategies, these decisions should be taken with precaution and a high level of professionalism.

The private sector contributes to job creation either directly by creating new positions for job seekers or indirectly by increasing growth that results in job creation for unemployed people. This study employed an Autoregressive Distributed Lag (ARDL) model to analyse the long and short run effects of aggregate expenditure on job creation in the private sector in South Africa. The findings indicated that there is a long run relationship between aggregate expenditure and job creation in the private sector. Investment spending and net exports are the aggregate expenditure components that create long-term jobs, whereas consumer consumption and government spending lead to possible long run job destruction. The Error Correction Model (ECM) results revealed that consumption and investment spending create jobs in the short run, while the Granger-causality test suggested that a bi-directional causal relationship exists between consumption, investment spending and employment in the private sector. The study concluded that the negative effect of consumption on private employment might be due to the consumption of imported goods and services. Thus, the employment situation in South Africa could be improved if more focus is placed on consumption of domestic products.

The private sector contributes to job creation either directly by creating new positions for job seekers or indirectly by increasing growth that results in job creation for unemployed people. This study employed an Autoregressive Distributed Lag (ARDL) model to analyse the long and short run effects of aggregate expenditure on job creation in the private sector in South Africa. The findings indicated that there is a long run relationship between aggregate expenditure and job creation in the private sector. Investment spending and net exports are the aggregate expenditure components that create long-term jobs, whereas consumer consumption and government spending lead to possible long run job destruction. The Error Correction Model (ECM) results revealed that consumption and investment spending create jobs in the short run, while the Granger-causality test suggested that a bi-directional causal relationship exists between consumption, investment spending and employment in the private sector. The study concluded that the negative effect of consumption on private employment might be due to the consumption of imported goods and services. Thus, the employment situation in South Africa could be improved if more focus is placed on consumption of domestic products.