scholarly journals The Effects of South Africa's Unexpected Monetary Policy Shocks in the Common Monetary Area

2020 ◽  
Author(s):  
Bonang N. Seoela
Keyword(s):  
South Africa ◽  
Monetary Policy ◽  
South African ◽  
Member Country ◽  
The South ◽  
Economic Output ◽  
Lending Rate ◽  
Domestic Credit ◽  
The Common ◽  
Repo Rate

The Common Monetary Area (CMA) is a multilateral agreement that provides a framework for a fixed exchange rate regime between the South-African Rand and the currencies of Lesotho, Eswatini, and Namibia (LEN). The nature of the arrangement restrains the LEN countries from exercising independent discretionary monetary policy. As a result, they must rely on the South African authorities for policy formulation and implementation. Interest rates in the LEN countries cannot deviate too far from those in South Africa. Given this limited scope for monetary policy in the LEN countries, this study investigates how each member country adjusts to shocks to the South African monetary policy instrument. Specifically, this paper uses a structural vector autoregressive (SVAR) model to examine how economic output, inflation, narrow money supply, domestic credit, and lending rate spread in each member country react to shocks experienced in the South African repo rate using monthly data from the period 2000M2 to 2018M12. The main findings indicate that a positive shock to the South African repo rate tends to be followed by a decline in economic output and an appreciation in price levels at the 90 percent confidence interval for all CMA countries. Our results have also shown that there is an asymmetric response in money supply, domestic credit and lending rate spread between the LEN countries and South Africa, to a positive repo rate shock. These results suggest that policymakers in LEN countries must implement additional policy measures to circumvent the negative impact of South Africa's monetary policy on their financial sectors.

scholarly journals Constitutional Mimicry and Common Law Reform in a Rights-Based Post-Colonial Setting: The Case of South Africa and Malawi

2009 ◽  
Vol 53 (1) ◽  
pp. 142-170
Author(s):  
Sibo Banda
Keyword(s):  
South Africa ◽  
South African ◽  
Common Law ◽  
Law Reform ◽  
Bill Of Rights ◽  
The South ◽  
Post Colonial ◽  
The Common

AbstractCompetent courts in Malawi must, as courts have done in South Africa, undertake a radical path in order to enhance the common law position of distinct categories of persons. This article discusses judicial appreciation of the common law-changing function of a bill of rights and its associated values, and judicial understanding as to when such a function may be brought into play. The article examines approaches taken by courts in South Africa in determining the circumstances in which the South African Bill of Rights applies to private relationships, when private parties owe each other duties arising out of the Bill of Rights and the scope of a court's authority to amend the common law in that regard. The article projects the debate, analysis and critique of these approaches onto the Malawian legal landscape through a discussion of the tenant worker contracted on the Malawi private estate.

Eswatini (formerly Swaziland)

2020 ◽  
Author(s):  
Marius Schneider ◽  
Vanessa Ferguson
Keyword(s):  
South Africa ◽  
Exchange Rate ◽  
South African ◽  
Southern Africa ◽  
The South ◽  
The Common ◽  
One To One ◽  
South African Rand

Eswatini, formally known as the Kingdom of Eswatini, is a landlocked country in Southern Africa and one of the smallest countries in Africa with a total area of 17,364 square kilometres (km) and a population of 1,367 (2017). It is bordered by Mozambique and South Africa. The capital and main business centre of Eswatini is Mbabane. The working week is from Monday to Friday from 0800 to 1300 and 1400 to 1700. The Swaziland Lilangeni (SZL/ E) is the official currency of Eswatini. The Lilangeni was introduced in 1974 to compete with the South African rand through the Common Monetary Area, to which it remains tied at a one-to-one exchange rate.

scholarly journals Morbidity and mortality following envenomation by the common night adder (Causus rhombeatus) in three dogs

2012 ◽  
Vol 83 (1) ◽  
Author(s):  
Kurt G.M. De Cramer ◽  
Garreth A. Van Bart ◽  
Freek Huberts
Keyword(s):  
South Africa ◽  
South African ◽  
Tissue Damage ◽  
Specific Treatment ◽  
Morbidity And Mortality ◽  
The South ◽  
The Common ◽  
Possible Cause

In South Africa dogs are frequently presented to veterinarians following snakebite. The offending snakes are usually puff adders (Bitis arietans), cobras (Naja spp.) and mambas (Dendroaspis spp.). Night adder (Causus rhombeatus) bites in dogs have not yet been reported in South Africa. This article deals with three cases of dogs bitten by night adders in which extensive tissue damage was noted and one fatality occurred. Night adder bites may be indistinguishable from puff adder bites. Non-specific treatment included addressing the hypovolaemia and swelling. Specific treatment involving immunotherapy using the South African polyvalent antivenom would be ineffective as it does not contain immunoglobulins against night adder venom. Veterinarians should also include night adders as the possible cause of dogs suffering from severe and painful swellings suspected to be due to snakebites.

scholarly journals The Consequences of the Statutory Regulation of Customary Law: An Examination of the South African Customary Law of Succession and Marriage

2019 ◽  
Vol 22 ◽  
pp. 1-24
Author(s):  
Fatima Osman
Keyword(s):  
South Africa ◽  
South African ◽  
Common Law ◽  
Customary Law ◽  
Successful Implementation ◽  
The South ◽  
Legal Context ◽  
The Common ◽  
Law Of Succession ◽  
Statutory Regulation

In pluralistic legal systems, the regulation of non-state law through statute carries the risks associated with codification; namely the ossification and distortion of law. This article examines the effects of statutory regulation on unwritten systems of law in the South African legal context. It argues that the constitutional recognition of customary law in South Africa has forced the state to legislate in this arena, the most notable enactments being the Recognition of Customary Marriages Act 120 of 1998 and the Reform of Customary Law of Succession and Regulation of Related Matters Act 11 of 2009. The enactments' attempt to align customary law with constitutional values have imported significant portions of the common law to regulate the customary law of marriage and succession. This has resulted in a distortion of customary law to reflect common law values and rules. Furthermore, it is argued that significant lacunae in the enactments have necessitated litigation and resulted in the judiciary playing a significant role in shaping customary law. Finally, despite the incorporation of living customary law into the enactments, the implementation thereof by courts and in practice has – and perhaps inevitably so – ossified and distorted portions of the law. Nonetheless, the article argues that legislation is critical to regulate customary law. It advocates that the shortcomings identified in the article are addressed to ensure a more accurate portrayal of customary law in legislation and the successful implementation thereof.

scholarly journals JUDICIAL DISCRETION IN THE DETERMINATION OF POST-DIVORCE CHILD SUPPORT: A BRIEF OVERVIEW OF THE APPLICATION OF THE SOUTH AFRICAN MAINTENANCE ACT 99 OF 1998 AS COMPARED TO THE CANADIAN FEDERAL CHILD SUPPORT GUIDELINES OF 1997

Obiter ◽  
2021 ◽  
Vol 30 (2) ◽  
Author(s):  
Marita Carnelley ◽  
Juanita Easthorpe
Keyword(s):  
South Africa ◽  
South African ◽  
Child Support ◽  
Current System ◽  
Common Law ◽  
Legal Systems ◽  
The South ◽  
The Common ◽  
The Impact ◽  
Support Guidelines

There are various models for determining and allocating child support obligations post-divorce and many different principles upon which such a policy can be based. In most legal systems the parents retain the duty to support their needy children after divorce as it is primarily their obligation to ensure the adequate financial welfare of their children. This principle is applicable in both the South African and Canadian legal systems. In South Africa, in terms of both the common law and legislation, both parents must maintain their children “according to their respective means”. The awarding of a specific amount of maintenance is, however, a complex process calculated by the courts on a case-by-case basis mainly by considering two issues: the needs of the children and the parents’ ability to maintain their children within the circumstances and means of each of the parents. Although both aspects are important in a maintenance enquiry, the focus of this note is on the interpretation of the calculation of the contribution of each of the parents, especially the non-custodial parent. The interpretation of the concept “means” obviously has important consequences for the parties: the broader the interpretation of the “means” of a parent, the higher the proportion of the contribution of that parent would be towards the support of the children. This is especially important in South Africa where a substantial proportion of those who are obligated to pay maintenance is impecunious. The Canadian law rested on similar principles until 1997 when the federal government promulgated the Federal Child Support Guidelines as an amendment to the Divorce Act. The impact of these Guidelines on the calculation of the parental share of post-divorce child support has been far-reaching. The aim of this note is firstly to examine the meaning of the term “means” within the South African legal system as set out in the common law, the various statutes and as these have been interpreted by the majority of courts over the past century. The second aim is to give a brief overview of the Canadian Guidelines and to compare their current system with the South African scenario. The rationale for choosing this jurisdiction is (i) the fact that in both jurisdictions the courts have the ultimate say over the amount of support paid; and (ii) as the Canadian position before their 1997 amendments was similar to the current South Africa system, it was envisaged that by exploring their reasons for change and evaluating their current system, some useful insights might be gained in solving some problems experienced in the South African maintenance system. The note will conclude with some suggestions for reform in South Africa in light of the Canadian experience. 

scholarly journals Some comments on the current (and future) status of Muslim personal law in South Africa

2017 ◽  
Vol 7 (2) ◽  
pp. 95
Author(s):  
Christa Rautenbach
Keyword(s):  
South Africa ◽  
South African ◽  
Common Law ◽  
Legal Order ◽  
Court Cases ◽  
State Law ◽  
Muslim Community ◽  
The South ◽  
The Common ◽  
Personal Law

The state law of South Africa consists of the common law and the customary law. However, in reality there exist various cultural and religious communities who lead their private lives outside of state law. For example, the Muslim community in South Africa is a close-knit community which lives according to their own customs and usages. Muslims are subject to informal religious tribunals whose decisions and orders are neither recognised nor reviewable by the South African courts.The non-recognition of certain aspects of Muslim personal law causes unnecessary hardships, especially for women. A Muslim woman is often in a "catch two" situation. For example, on the one hand her attempts to divorce her husband in terms of Muslim law may be foiled by the relevant religious tribunal and, on the other hand, the South African courts may not provide the necessary relief, because they might not recognise the validity of her Muslim marriage. Increasingly, South African courts are faced with complex issues regarding the Muslim community. The last few years there has been a definite change in the courts' attitude with regard to the recognition of certain aspects of Muslim personal law. Contrary to pre1994 court cases, the recent court cases attempt to develop the common law to give recognition to certain aspects of Muslim personal law. This article attempts to give an overview of the recent case law that dealt with issues regarding the recognition of aspects of Muslim personal law. Another issue, which eventuates from the current situation, is whether the South African legal order should continue to have a dualistic legal order or whether we should opt for a unified legal order or even a pluralistic legal order. In order to address this issue, some comments on the current status of Muslim personal law will be made and, finally, in order to contribute to the debate regarding the recognition of Muslim personal law, optional models for the recognition of Muslim personal law will briefly be evaluated.

scholarly journals An investigation into the ability of the reverse yield gap to forecast inflation and economic growth in South Africa

2018 ◽  
Vol 21 (1) ◽  
Author(s):  
Keren A. Gossman ◽  
Mark G. Hayes
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Monetary Policy ◽  
Linear Relationship ◽  
South African ◽  
Core Model ◽  
Target Range ◽  
The South ◽  
Yield Gap ◽  
Inflation Forecasting

Background: Monetary policy in South Africa is carried out by the South African Reserve Bank (SARB) with the aim of keeping inflation within a target range of 3% – 6%. The SARB uses a variety of models to aid them, with the core model being the most significant. Aim: The primary aim of this research is to determine whether the reverse yield gap (RYG) contains information that could be useful to the SARB when making monetary policy decisions. Setting: The authors found no evidence that similar studies on the RYG have previously been done in the South African context. Since the yield curve has been found to be significant in South Africa at forecasting economic growth, yet insignificant in Europe, the results for this research may too be different to the global experience. Methods: The authors tested for linear relationships between the RYG and economic growth and inflation over the period 1960–2014. Results: The results indicate that a slight linear relationship may exist in the case of economic growth, with the RYG based on earnings yields showing better out-of-sample forecasting abilities. Further investigation indicates that the linear relationship is stronger during times of economic upturn. The results for inflation forecasting, however, show no signs of a reasonable linear relationship. Conclusion: There is evidence for the SARB to consider whether the RYG can replace other economic variables in its core model without loss of predictive ability. Interestingly, this study found evidence to suggest that the RYG has an inverse relationship to future economic growth in South Africa, which is not what was expected.

scholarly journals MARITAL RAPE: A TALE OF TWO LEGAL SYSTEMS

Obiter ◽  
2017 ◽  
Vol 38 (3) ◽  
Author(s):  
Oyebanke Yebisi ◽  
Victoria Balogun
Keyword(s):  
South Africa ◽  
South African ◽  
Criminal Law ◽  
Common Law ◽  
Case Law ◽  
Criminal Code ◽  
Marital Rape ◽  
The South ◽  
Sexual Offences ◽  
The Common

Marital rape is a form of sexual violence, which is often downplayed due to the common law position that a man cannot rape his wife. While certain jurisdictions have enacted laws criminalising it, other jurisdictions have yet to criminalise it. This paper focuses on the criminal aspects of marital rape and examines the laws regarding marital rape in South Africa and the general rape provisions in Nigeria. While marital rape is punishable under South African criminal law, it is not in Nigeria. In this paper, the provisions of the South African Criminal Law (Sexual Offences and Other Related Matters) Act of 2007, the Criminal Code Act, and the Penal Code Act – Nigeria in relation to rape and marital rape – are analysed. This paper also discusses the South African Sexual Offences Court, sentencing for rape in the selected countries, and relevant case law. It concludes that South Africa (SA) has a generally good framework with respect to rape and marital rape, but the country should work more on the strict application of the laws in place. It also suggests that Nigeria should establish a sexual offences court using the South African model and should amend the Criminal Law to expressly criminalise marital rape.

scholarly journals Inflation Targeting Monetary Policy and Unemployment in South Africa

2018 ◽  
Vol 10 (4(J)) ◽  
pp. 88-96 ◽  
Author(s):  
Harris Maduku ◽  
Irrshad Kaseeram
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Monetary Policy ◽  
Exchange Rate ◽  
South African ◽  
Inflation Targeting ◽  
Annual Data ◽  
The South ◽  
Reserve Bank ◽  
The Impact

We analyze the impact of inflation, growth and exchange rate on unemployment in South Africa using annual data spanning 1980- 2017. Using the ARDL methodology we find that there is a negative longrun relationship between inflation and unemployment in South Africa and inflation is significant in explaining unemployment. Other variables of interest, economic growth and exchange rate are also significant in explaining unemployment. We use the findings of our study to propose that the South African Reserve Bank(SARB) should consider revising its objectives so that they can consider getting involved in targeting unemployment so that they help nurse the economy from the wounds of high inequality and poverty. 

Foreigners' Rights to Work and Fair Labour Practices in South Africa: A Review of the South African Labour Legislation and Jurisprudence

2020 ◽  
Vol 35 (1) ◽  
Author(s):  
Andre Mangu
Keyword(s):  
South Africa ◽  
Human Rights ◽  
South African ◽  
Bill Of Rights ◽  
The South ◽  
Legislation And Jurisprudence ◽  
Foreign Nationals ◽  
Lay Persons ◽  
Democratic State ◽  
Labour Legislation

After several decades of apartheid rule, which denied human rights to the majority of the population on the ground of race and came to be regarded as a crime against humanity, South Africa adopted its first democratic Constitution in the early 1990s. The 1996 Constitution, which succeeded the 1993 interim Constitution, is considered one of the most progressive in the world. In its founding provisions, it states that South Africa is a democratic state founded on human dignity, the achievement of equality, the advancement of human rights and freedoms. The Constitution enshrines fundamental human rights in a justiciable Bill of Rights as a cornerstone of democracy. Unfortunately, in the eyes of a number of politicians, officials and lay-persons, the rights in the Bill of Rights accrue to South African citizens only. Xenophobia, which has been rampant since the end of apartheid, seems to support the idea that foreigners should not enjoy these rights. Foreign nationals have often been accused of posing a threat to South African citizens with regard to employment opportunities. In light of the South African legislation and jurisprudence, this article affirms the position of the South African labour law that foreign nationals are indeed protected by the Constitution and entitled to rights in the Bill of Rights, including the rights to work and fair labour practices.

Sign in / Sign up

Export Citation Format

Share Document