Affiliation: | Senior researcher at and director of the Bureau for Economic Research (BER) at the University of Stellenbosch respectively. An earlier version of this paper was presented at the 75th Anniversary Conference of the Economic Society of South Africa at Glenburn Lodge, Johannesburg on 13 September 2001. The authors are grateful to an anonymous referee for helpful comments on an earlier draft of the paper. All remaining errors are our own. |