Advancing heritage tourism in the central Karoo: The South African War Battlefields Route

ABSTRACT

Tourism and tourism development have the potential to make a positive impact on a region’s economic development and sustainability. In this sense, the central Karoo has a great deal to offer heritage tourists. As there are numerous battlefield sites associated with the South African War (1899–1902) (previously the Anglo-Boer War) the central Karoo offers a unique development opportunity to demarcate a designated battlefield route dedicated to the war. This study investigated the potential for the development of the proposed route by involving potential stakeholders (specifically product owners and government officials) on the route. The study was qualitative, and 33 interviews were conducted. Thematic content analysis was used to analyse the data. The main findings indicate a need for the development of the route and the establishment of a South African War Battlefields Route Destination Marketing Organisation (DMO).     

RESEARCH NOTE: ERRORS IN THE OCTOBER HOUSEHOLD SURVEY 1994 AVAILABLE FROM THE SOUTH AFRICAN DATA ARCHIVE1

The on‐line electronic documentation supplied with the 1994 October Household Survey by the South African Data Archive (SADA) appears to be incorrect. In particular, the electronic version of the questionnaire does not correspond to the hard copy in the possession of the author. The most serious error is that the race classification in the electronic copy is different from the classification on the hard copy. Researchers relying on the electronic copy will erroneously interchange the categories “Coloured”, “White” and “Black”. This could lead to seriously misleading analyses. The reason for this mistake can probably be attributed to a retyping of the questionnaire using the 1993 OHS as a template.     

Financial acumen, women speculators, and the Royal African company during the South Sea bubble

Price bubbles provide a unique opportunity to study the financial acumen of shareholders. We focus on the 1720 South Sea episode as experienced by the Royal African Company whose stock was more speculative than other joint stocks. During 1720 the company had a new large stock issue. This paper examines the financial acumen of those women who traded senior and engrafted stock across 1720. We find that depending on the pricing regime, these women at worst broke even on their activities or had positive speculative gains. Our findings are consistent with a growing literature on the positive link between gender, capital gains and financial markets.     

How are Africa's emerging stock markets related to advanced markets? Evidence from copulas

The finance literature provides ample evidence that diversification benefits hinges on dependence between assets returns. A notable feature of the recent financial crisis is the extent to which assets that had hitherto moved mostly independently suddenly moved together resulting in joint losses in most advanced markets. This provides grounds to uncover the relative potential of African markets to provide diversification benefits by means of their correlation with advanced markets. Therefore, we examine the dependence structure between advanced and emerging African stock markets using copulas. Several findings are documented. First, dependence is time-varying and weak for most African markets, except South Africa. Second, we find evidence of asymmetric dependence, suggesting that stock return comovement varies in bearish and bullish markets. Third, extreme downward stock price movements in the advanced markets do not have significant spillover effects on Africa’s emerging stock markets. Our results, implying that African markets, with the exception of South Africa, are immune to risk spillover from advanced markets, improves the extant literature and have implications for portfolio diversification and risk management.     

African Agricultural Development: Lessons and Challenges

This paper reviews what has been learned from experiences of African agriculture and hence what policy lessons may be. Views of African agriculture over the last 130 years have changed from optimism to pessimism and at least halfway back again as the performance of the sector has fluctuated. Fortunately it seems the deep pessimism about agricultural prospects expressed in the 1980s and 1990s has receded. The performance of African agriculture since 1990 suggests that neither those who doubt that any significant advances are taking place, nor those who see advances in some remarkable but perhaps isolated cases of rapid transformation of farming and agricultural supply chains, have sufficient evidence – either from national data or small‐scale studies – to support their positions. Hence policy has to rely largely on general principles and historic lessons, rather than more clearly proven propositions. Policy debates over African agricultural development may sharply divide on some topics, but there is little debate over the importance of basic conditions for agricultural development of an enabling investment climate and the provision of rural public goods. Beyond these basics, the challenge is to remedy the failings of markets that deny most smallholders access to inputs, financial services and insurance. Here opinion divides between whether to return to public provision, as with fertiliser subsidies, or whether private and collective institutional innovations will be sufficient. Recent initiatives to test and scale up the latter look promising, but most have yet to be evaluated. If agricultural development is first and foremost about establishing the basic conditions for growth, then most countries in Africa may be better placed than they have been in the past. Given the many examples that show African smallholders investing and innovating when they have the chance, then there are reasons to hope that the modest growth of production and productivity seen in the last two decades may accelerate in the future – thereby allowing African countries to make the transition from agrarian to urban economies.     

Stock Price Index and Exchange Rate Nexus in African Markets

This paper examines the relationship between stock price index and exchange rate in six African markets using monthly data for the period January 2007 to October 2015. A quantile regression approach is used. This methodology is shown to perform better than the ordinary least squares estimators, particularly when the conditional distribution is heterogeneous. Our empirical evidence reveals an interesting pattern in the association of these two financial markets in Africa, which shows that the negative relationship between stock and foreign exchange markets is more apparent when exchange rates are extremely low or high. The negative relationship between the two variables is in line with the portfolio balance effect.     

Board Gender Diversity: Challenges and Implications for Corporations in the East African Community

ABSTRACT

East African Community’s (EAC) corporations are required to follow a regional treaty of mainstreaming gender equality. This article discusses challenges encountered by corporate boards of the EAC’s corporations when adding women. Agency and resource dependence theories led the study, while a review of the literature was the methodology. We discuss the benefits of diverse boards and challenges faced when developing this diversity. We show how power distance, masculinity, and certainty avoidance prevent women from corporate boards. Furthermore, we discuss how social orientation and business environment impact women’s participation. The article discusses various strategies to be considered for increasing diversity.     

Research note: religious doctrine and its influence on the choice to gamble as a leisure pastime among African American Methodists

This research note examines the relationship between adherence to religious doctrine and participation in gambling as a leisure pastime. In the United States, recreational gambling is a common leisure pastime for many African Americans. Our ideals about the value of gambling are often shaped within families, based on their lived experience with recreational gambling and also within religious communities. Two doctrinal statements from the Methodist strand of Protestantism provide critical assessment of gambling as a leisure pastime. This case study examined African American Methodists’ perceptions about religious doctrine that addresses gambling; their choice to gamble despite their familiarity with the doctrinal position of the Church; and the perception of gambling as a sinful leisure pursuit. Religious doctrine may deter some adherents from participating in gambling as a leisure pursuit but not everyone. Many can be familiar with religious doctrine, may not agree with it and will proceed to gamble. Finally, even if gambling is perceived as a sinful leisure activity, it concurrently can be viewed as a ‘harmless’ vice.     

Comparative Urbanism and the ‘Asian City': Implications for Research and Theory

While voices in the comparative urbanism literature call for researchers to approach comparison with more experimental and critical methodologies, there remains no consensus on how to design and realize these studies. This essay examines the implications of comparative urbanism for researching the ‘Asian City'. Given the critique of existing modes of comparison embedded in recent calls for a new comparative urbanism, researchers are faced with a number of pressing questions: How do we approach this ‘regional' topic in a way that both resists categorizing the ‘Asian City' as an exotic ‘other', elevating it onto a mythical pedestal, yet appreciates its differences, localisms and unique ‘cosmopolitan vernacular' (Clifford, 1997; Werbner and Modood, 1997)? This essay thus highlights the multiple challenges of applying the comparative lens to the ‘Asian City', arguing that broader conceptualizations of the ‘Asian City' help to address the dangers in isolating Asian research into its own canon of parochial urban theory and offering a greater diversity of possibilities for justifying case selection in comparative approaches. In doing so, we hope that this essay responds to the comparative turn by illuminating to some extent its inherent complexity and methodological challenges.