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Essays on industrial dynamics: evidence from Swaziland
Thesis (DCom)--Stellenbosch University, 2017.
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| Format: | Thesis |
| Language: | en_ZA |
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Stellenbosch : Stellenbosch University
2017
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| _version_ | 1867613875732480000 |
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| access_status_str | Open Access |
| author | Mhlanga, Samuel Vika |
| author2 | Rankin, Neil |
| author_browse | Mhlanga, Samuel Vika Rankin, Neil |
| author_facet | Rankin, Neil Mhlanga, Samuel Vika |
| author_sort | Mhlanga, Samuel Vika |
| collection | Thesis |
| dc_rights_str_mv | Stellenbosch University |
| description | Thesis (DCom)--Stellenbosch University, 2017. |
| format | Thesis |
| id | oai:scholar.sun.ac.za:10019.1/102836 |
| institution | Stellenbosch University (South Africa) |
| language | en_ZA |
| last_indexed | 2026-06-10T12:43:06.129Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from SUNScholar — Stellenbosch University Repository |
| publishDate | 2017 |
| publishDateRange | 2017 |
| publishDateSort | 2017 |
| publisher | Stellenbosch : Stellenbosch University |
| publisherStr | Stellenbosch : Stellenbosch University |
| record_format | dspace |
| source_str | SUNScholar — Stellenbosch University Repository |
| spelling | oai:scholar.sun.ac.za:10019.1/102836 Essays on industrial dynamics: evidence from Swaziland Mhlanga, Samuel Vika Rankin, Neil Stellenbosch University. Faculty of Economic and Management Sciences. Dept. of Economics. Industrial dynamics -- Swaziland Swaziland -- Economic conditions Job creation -- Swaziland Transformational entrepreneurship -- Swaziland Manufacturing industries -- Swaziland UCTD Thesis (DCom)--Stellenbosch University, 2017. ENGLISH SUMMARY : This thesis is completely based on a unique and rich establishment-level panel dataset that has never been used before provided by the Central Statistical Office (CSO) of Swaziland to study industrial dynamics. It begins with an assessment of aggregate resource flows among sectors of the Swazi economy to understand the nature of structural change over a period of 10 years since 1994. We find a slight shift in output and labour from the high-productivity manufacturing to low-productivity agriculture and services sectors, potentially developing into what is also known as the manufacturing hollowing out phenomenon. Within the manufacturing sector itself, the evolution of firm-size distribution appears to converge to a bimodal structure; while deeper investigation produces a missing ‘missing middle’ in the economy. The analysis goes on to evaluate the job creating prowess of small firms. The general finding again is that job destruction dominates job creation, regardless of firm-size category. However, large firms destroy and create more jobs than small firms, even without relevant data to control for firm age. This suggests an absence of transition channels from subsistence to transformational entrepreneurship in the Swazi manufacturing sector. An in-depth analysis of the drivers of aggregate productivity growth is also carried out. It is found that resource reallocation across firms is productivity enhancing while longitudinal technical efficiency is productivity reducing in the manufacturing sector. However, the firm entry-exit dynamic is the main contributor to aggregate productivity growth. In the case of investment dynamics and unobserved heterogeneity, there is neither significant impact of the lagged investment variable nor presence of individual firm-specific heterogeneity that might raise firms’ propensity to invest in plant, machinery and equipment. That is, the impact of unobserved firm-specific characteristics underlying investment decisions is also insignificant. The most interesting finding though is that the cost of uncertainty in a trade liberalization environment can also be measured in our framework. We find that missing investments at time 𝑡𝑡−1 reduce the propensity to invest at time 𝑡𝑡 by a significant margin. Furthermore, by interacting missing investments with labour, we estimate a significant probability of capital substitution for labour. When an endogenous switching regime model of investment is estimated, the single investment regime produced by fixed and random effects models is validated. AFRIKAANSE OPSOMMING : Hierdie tesis is volledig gebaseer op ’n eiesoortige en omvangryke stel paneeldata op die vlak van ekonomiese instellings wat deur die sentrale statistiekkantoor van Swaziland verskaf is vir die bestudering van industriële dinamika, onder meer totale groei in produktiwiteit. Die studie begin met ’n evaluering van die saamgevoegde vloei van hulpbronne tussen sektore van die Swazilandse ekonomie ten einde insig te verwerf in die aard van strukturele veranderings wat oor ’n tydperk van tien jaar sedert 1994 plaasgevind het. Ons sien ’n effense verskuiwing in uitset en arbeid, van die hoëproduktiwiteit-vervaardigingsektor na die laeproduktiwiteitsektore van landbou en dienslewering, om moontlik te ontwikkel in die verskynsel wat as die uitholling van vervaardiging bekend staan. Binne die vervaardigingsektor self ontwikkel die verspreiding van ondernemingsgrootte in die rigting van ’n bimodale struktuur; ’n aanduiding van ’n “vermiste middel” in die ekonomie. Die ontleding gaan voort deur die vermoë van kleinsakeondernemings om werk te skep te ontleed. Die bevinding in die algemeen is weer eens dat werksgeleenthede wat vernietig word die werksgeleenthede wat geskep word oorheers, ongeag die kategorie van ondernemingsgrootte. Groot ondernemings vernietig én skep egter meer werksgeleenthede as kleiner ondernemings, selfs sonder tersaaklike data om vir die ouderdom van ondernemings te kontroleer. Dit dui op die afwesigheid van kanale wat ondernemings in die Swazilandse vervaardigingsektor van bestaansentrepreneurskap na transformasionele entrepreneurskap kan laat oorgaan. ’n Diepgaande ontleding van die drywers van totale produktiwiteitsgroei word ook gedoen. Daar word bevind dat die toedeling van hulpbronne oor ondernemings heen produktiwiteit verbeter, terwyl longitudinale tegniese doeltreffendheid produktiwiteit in die vervaardigingsektor laat afneem. Die toetree-uittree-dinamiek van maatskappye is egter die grootste bydraer tot totale produktiwiteitsgroei. In die geval van investeringsdinamika en onopgemerkte heterogeniteit is daar nie ’n beduidende impak van die vertraagde investeringsveranderlike of die aanwesigheid van individuele, ondernemingspesifieke heterogeniteit wat ondernemings se geneigdheid om in masjinerie en toerusting te investeer, moontlik sal verhoog nie. Dit wil sê, die impak van onopgemerkte ondernemingspesifieke eienskappe onderliggend aan investeringsbesluite is ook onbeduidend. Die interessantste bevinding is dat die koste van onsekerheid in ’n omgewing van handelsliberalisering ook in ons raamwerk gemeet kan word. Ons vind dat verlore investering op tydstip 𝑡𝑡−1 die geneigdheid om te investeer by tydstip 𝑡𝑡 met ’n aansienlike marge laat afneem. Deur verlore investering voorts met arbeid in wisselwerking te plaas, dui ons beraming op ’n beduidende waarskynlikheid dat arbeid met kapitaal vervang word. ’n Beraamde model van ’n endogene omruilingsbestel bekragtig die enkelvoudige investeringsbestel wat deur modelle van vaste en ewekansige effekte geproduseer word. Doctoral 2017-11-24T13:00:18Z 2017-12-11T11:00:25Z 2017-11-24T13:00:18Z 2017-12-11T11:00:25Z 2017-12 Thesis http://hdl.handle.net/10019.1/102836 en_ZA Stellenbosch University xvii, 143 pages ; illustrations application/pdf Stellenbosch : Stellenbosch University |
| spellingShingle | Industrial dynamics -- Swaziland Swaziland -- Economic conditions Job creation -- Swaziland Transformational entrepreneurship -- Swaziland Manufacturing industries -- Swaziland UCTD Mhlanga, Samuel Vika Essays on industrial dynamics: evidence from Swaziland |
| title | Essays on industrial dynamics: evidence from Swaziland |
| title_full | Essays on industrial dynamics: evidence from Swaziland |
| title_fullStr | Essays on industrial dynamics: evidence from Swaziland |
| title_full_unstemmed | Essays on industrial dynamics: evidence from Swaziland |
| title_short | Essays on industrial dynamics: evidence from Swaziland |
| title_sort | essays on industrial dynamics evidence from swaziland |
| topic | Industrial dynamics -- Swaziland Swaziland -- Economic conditions Job creation -- Swaziland Transformational entrepreneurship -- Swaziland Manufacturing industries -- Swaziland UCTD |
| url | http://hdl.handle.net/10019.1/102836 |
| work_keys_str_mv | AT mhlangasamuelvika essaysonindustrialdynamicsevidencefromswaziland |