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Working Papers

Financial development and income inequality: a nonlinear econometric analysis of 21 African countries, 1994-2015

Lindokuhle Talent Zungu and Lorraine Greyling
A panel data analysis of financial inequality was conducted using the PSTR model to determine the threshold level at which excessive financial development worsens inequality. The results reveal evidence of a nonlinear effect between financial development and income inequality where the optimal...
Feb 2021
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Taxpayer responsiveness to taxation: Evidence from bunching at kink points of the South African income tax schedule

Neryvia Pillay
I apply the bunching methodology to South African administrative tax data over the period from 2011 to 2017 to investigate the responsiveness of individual taxpayers to changes in marginal personal income tax rates. I find significant evidence of bunching among the self-employed but no evidence of...
Feb 2021
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The Effect of Colonial and Pre-Colonial Institutions on Contemporary Education in Africa

Leone Walters, Carolyn Chisadza and Matthew Clance
This paper argues that contrary to previous findings, present-day education outcomes in Africa cannot be independently attributed to colonial or pre-colonial ethnic institutions. We propose that it is instead the complementarity or contention between colonial and precolonial institutions that result...
Jan 2021
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The transmission of monetary policy via the banks’ balance sheet - does bank size matter?

Tumisang Loate and Nicola Viegi
We study the credit channel of monetary policy in South Africa between 2002 and 2019 using banks’ balance sheets. We show that there is a significant heterogeneity within the banking sector in both the loan and deposit sides of the banks’ balance sheets. In response to a contractionary monetary...
Jan 2021
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Phases of Higher Education, Tuition Grants, and Equity-Efficency Tradeoff

Yoseph Y. Getachew
We study how taxes and alternative higher education subsidies affect equity-efficiency trade-off for countries at different phases of higher education development. We find a scholarship program is the most efficient higher-education-subsidy program at all stages of higher education development due...
Jan 2021
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The effects of technology intensity in manufacturing on CO2 emissions: Evidence from developing countries

Elvis Avenyo and Fiona Tregenna
Industrialisation is recognised as important for developing countries’ growth and ‘catching up’ with advanced economies, but is also associated with harmful carbon dioxide (CO2) emissions and hence with climate change. This poses a challenge to sustainable development, particularly for late...
Jan 2021
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Relationship between education and households’ electricity-saving behaviour in South Africa: A multilevel logistic analysis

Kabeya Clement Mulamba
This paper investigates the relationship between the education level of household heads and households’ energy-saving practices at the micro-level in South Africa. It uses the community survey of 2016 as data source. Multilevel logistic models are estimated to account for heterogeneity that...
Jan 2021
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