Empirical economics acknowledges the cooperation of

Empirical economics acknowledges the cooperation of     

On the path of integration in the Gulf region

It is examined whether the six countries comprising the Gulf Cooperation Council (GCC) are sufficiently compatible to form a viable economic and financial block in the Gulf region. Despite long and numerous governmental attempts since the mid 1980s, and in spite of public pressures to expedite the process, these countries have thus far failed to achieve full economic and financial integration. Empirical evidence suggests that this apparent failure is unlikely the outcome of economic or financial incompatibility among the countries in the region. The results imply that more efforts should be directed at resolving possible sociopolitical differences that may have hampered real progress toward the emergence of a genuine and effective bloc in the Gulf region.     

Determining long-term parking needs at OR Tambo International Airport in Johannesburg

The economic growth and arrival of low-cost airlines in South Africa has led to a boom in air passenger travel. The OR Tambo International Airport in Johannesburg has seen increased passenger numbers of around 10% per annum. This, combined with FIFA requirements for the Soccer World Cup 2010, has sparked various investments.During the planning of the investment a knowledge gap was identified. A research study by the University of Cape Town has resulted in the development of a long-term sketch planning tool that can assist in exploring future scenarios. This paper summarises the development and application of the tool.     

Corporate Debt Maturity Structure: The Role of Firm Level and Institutional Determinants in Selected African Countries

An appropriate debt maturity structure is essential for firms to enable them align asset structure to liabilities to prevent a mismatch. This study investigates the role of firm-level and institutional variables on debt maturity structure in selected African countries. Using panel generalised method of moment that addresses endogeneity problem; our findings reveal a dynamic process of adjustment to optimal debt maturity structure. Furthermore, firm-level variables (leverage, asset structure and firm size) provide support for the contracting cost, signalling and matching principle theories of debt maturity structure. Results of institutional variables suggest that better developed institutions promote long-term debt maturity structures.