RETURNS TO SCHOOLING: SKILLS ACCUMULATION OR INFORMATION REVELATION?

This paper explores the degree to which imperfect information in the labour market regarding worker quality is likely to impact employment opportunities, as well as the wages associated with those opportunities. The primary purpose of this paper is to provide preliminary empirical evidence that market imperfections exist in South Africa's labour market, that those imperfections could be based on asymmetric private information, and that market participants pursue information gathering and revelation strategies to help mitigate the negative effects of the information asymmetries.Information asymmetry, signalling, screening, returns education

Are prices sticky downwards? The effect of trade liberalisation on South Africa’s wine industry

One country's exports are another country's imports. However, an emphasis on the outward-oriented policy ignores its import aspect, and possibly exaggerates the benefits from free trade. This paper therefore investigates whether import prices are lowered when tariffs are reduced. The issue of income redistribution is also pursued. The reliability of the policy in achieving its goal, as well as the policy integration at micro-macro level, is also touched upon. South Africa was selected for this study because in the first place it represents a typical developing economy (DC). There has been, thus far, scanty empirical evidence on the open trade paradigm in such economies

Returns to schooling : skills accumulation or information revelation?

This paper explores the degree to which imperfect information in the labour market regarding worker quality is likely to impact employment opportunities, as well as the wages associated with those opportunities. The primary purpose of this paper is to provide preliminary empirical evidence that market imperfections exist in South Africa's labour market, that those imperfections could be based on asymmetric private information, and that market participants pursue information gathering and revelation strategies to help mitigate the negative effects of the information asymmetries