The School of Economics and Finance houses a diverse group of active researchers, who explore a range of topical, policy-relevant, and socially important questions using innovative methods of analysis. The division is distinguished by its strong focus on health economics, the economics of gender, heterodox approaches to the economy, the economics of the environment, international finance, and the behaviour of firms.
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The Macro-Financial Analysis Research Group consists of experienced and emerging researchers. The research team, with its diverse focus areas, has made significant contributions to the understanding of the interlinkages between the macroeconomy and financial markets. Our main areas of focus include Financial Economics, Risk and Insurance, Financial Stability, Forecasting, Exchanges Rates, Commodities, International Finance, Macroprudential Policies, Business Cycles, Monetary Economics, and Fiscal Policy. |
Published Examples:Alovokpinhou, S.A. & Malikane, C. 2024. The effect of output and the real exchange rate on equity price dynamics. The North American Journal of Economics and Finance, 72(2024):102146. Alovokpinhou, S.A., Dladla, P., & Malikane, C. 2024. Financial accelerator, household portfolio, stock prices, and monetary policy shocks. Applied Economics Letters, 31(1):31-39. Fasanya, I.O. & Makanda, S. 2024. Disentangled oil shocks and macroeconomic policy uncertainty in South Africa. Science Direct, 95(2024):105195. Fasanya, I.O. & Mubaiwa, D. 2024. Quantile Dependencies between Exchange Rate Volatility and Sectoral Stock Returns. South Africa Investment Analysts Journal, 53(2):89-101. Fasanya, I.O. & Oyewole, O. 2024. Quantile dependencies across BRICS currency markets in time of crisis: Analysis of the Russia-Ukraine war. Investment Analysts Journal, 52(4):281-296. Machokoto, M. & Sikochi, A. 2024. Not a one-trick pony: Price impact of rating agency information. Economics Letters, 241(2024):111837. Malikane, C. 2024. Inflation dynamics: A traditional perspective. Oxford Economic Papers, 76(3):780-796. |
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The Environment and Energy Economics research theme has strong links with SDG 6 (Clean Water and Sanitation), SDG 7 (Affordable and Clean Energy), SDG 11 (Sustainable Cities and Communities), SDG 12 (Responsible Consumption and Production), SDG 13 (Climate Action), SDG 14 (Life Below Water), and SDG 15 (Life on Land). Research in these areas adopts an interdisciplinary approach to understanding the complex interactions existing among the economy, environment, and society to provide evidence-based research to inform public and private policies on the effects of the environment and natural resources on economies and societies. |
Publication Examples:Adetutu, M.O., Odusanya, K.A., Rasciute, S., & Stathopoulou, E. 2024. Pollution risk and life insurance decisions: Microgeographic evidence from the United Kingdom. Risk Analysis, 44(2024):1731-1976. Adetutu, M.O. & Rasciute, S. 2024. Pollution, severe health conditions, and extreme right-wing ideology: A tale of three contemporary challenges. Economics Letters, 237(2024):111648. Koch, S.F., Nkuna, B., & Ye, Y. 2024. Income elasticity of residential electricity consumption in rural South Africa. Energy Economics, 131(2024):107405. |
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The political economy of institutional dynamics explores the interactions between social, political, and economic realities through both formal and informal rules. It uses a critical lens to engage with topics that include, but are not limited to, inequality, power, development, and economic systems. As this is a very diverse area of research conferences vary greatly, but some potential options are the International Initiative for Promoting Political Economy, the International Association for Feminist Economics and the Association for Heterodox Economics. |
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Academics in SEF are particularly well-known for their work on gender-related issues. This includes work exploring gender differences in labour market outcomes (such as the gender earnings gap, and the gendered nature of employment and unemployment), and whether and how these have changed in the post-COVID period, as well as gender differences in wealth, poverty, physical health, subjective wellbeing, and depression. Much of this work is methodologically innovative, for example, interrogating heterogeneity in gender gaps as well as differences among women (and among men). Academics in SEF also conduct research on related themes of household formation and family dynamics, including gender differences in wealth, resource allocations, and well-being within households, changing patterns and trends in household size and composition, the provision of caring labour within the household, issues of maternal and child nutrition, and early childhood development. |
Publication Examples:Badaoui, E., Bargain, O., Kwenda-Magejo, P., Strobl, E., & Walsh, F. 2024. Informality, self-employment and heterogeneous managerial ability: A model for developing countries. Journal of International Development, 36(2):1293-1323. Casale, D. & Oyenubi, A. 2024. Measuring the gender wealth gap in South Africa using individual-level data. South African Journal of Economics, 92(1):80-92. Desmond, C., Watt, K., Naicker, S., Behrman, J., & Richter, L. 2024. Girls' schooling is important but insufficient to promote equality for boys and girls in childhood and across the life course. Development Policy Review, 42(1):e12738. Desmond, C., Watt, K., Rudgard, W.E., Sherr, L., & Cluver, L. 2024. Whole of government approaches to accelerate adolescent success: efficiency and financing considerations. Health Policy and Planning, 39(2):168-177. Erzse, A., Desmond, C., Hofman, K., Barker, M., & Christofides, N.J. 2024. Addressing unmet social needs for improved maternal and child nutrition: Qualitative insights from community-based organisations in urban South Africa. Global Public Health, 19(1):2329986. Oyenubi, A. 2024. Analysis of the labour market impacts of the coronavirus pandemic: Evidence from Zambia. Development Southern Africa, 41(1):183-206. Oyenubi, A. & Mosomi, J. 2024. Utility of inequality sensitive measures of the gender wage gap: Evidence from South Africa. Economic Analysis and Policy, 81(2024):576-590. Posel, D., Kutela, D., Casale, D., & Oyenubi, A. 2024. Sorting the gender earnings gap: Heterogeneity in the South Africa labour market. Feminist Economics, 30(1):106-133. Smith, A., Leach, G., & Rossouw L. 2024. The timing of antenatal care access for adolescent pregnancies in Cape Town, South Africa. African Journal of Primary Health Care & Family Medicine, 16(1):a4192. |
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The group focuses on the evolving landscape of financial technology (FinTech), particularly at the nexus of finance, innovation, and technology. Our research examines how technological advancements are reshaping financial services, focusing on their impact on emerging economies. We explore how these innovations are influencing individual financial decision-making and the efficiency of financial markets. Our activities include participation in conferences, publishing research papers, and organizing workshops. These events bring together leading scholars, industry experts, and policymakers to share insights and discuss the latest developments and challenges in FinTech. We actively seek funding opportunities to support research addressing critical FinTech issues, behavioural finance, and financial inclusion. Our research projects are designed to produce practical insights and evidence-based recommendations. These outcomes aim to inform policy and practice, contributing to a more inclusive and efficient financial ecosystem. Overall, our thematic area is dedicated to advancing knowledge and promoting collaboration in the dynamic field of finance and technological innovation. |
Published Examples:Caglayan, M. & Machokoto, M. 2024. The sensitivity of investment to internal and external funds: New emerging market evidence. Research in International Business and Finance, 67(2024):102099. Krishnan, J., Bhattacharjee, B., Pratap, M., Yadav, J.K., & Maiti, M. 2024. Survival strategies for family-run homestays: Analyzing user reviews through text mining. Data Science and Management, 7(3):228-237. Machokoto, M. 2024. The impact of cultural orientation towards secrecy on innovation. Economics Letters, 234(2024):111509. Machokoto, M. & Omotilewa, O.J. 2024. The impact of borrowing concentration on innovation: When is one not just enough? Economics Letters, 236(2024):111613. Maiti, M., & Kayal, P. 2024. Exploring innovative techniques for damage control during natural disasters. Journal of Safety Science and Resilience, 5(2):147-155. Naidu, D.D. 2024. The relationship between implied volatility and equity returns in South Africa. Afro-Asian Journal of Finance and Accounting, 14(1):83-99. Nyakurukwa, K. & Seetharam, Y. 2024a. Household stock market participation in South Africa: the role of financial literacy and social interactions. Review of Behavioral Finance, 16(1):186-201. Nyakurukwa, K. & Seetharam, Y. 2024c. Sentimental Showdown: News media vs. Social Media in Stock Markets. Heliyon, 10(9):e30211. Rajendran, H., Kayal, P., & Maiti, M. 2024. Harnessing Machine Learning for Predicting Cryptocurrency Returns. Global Business Review. Varshini, A., Kayal, P., & Maiti, M. 2024. How good are different machine and deep learning models in forecasting the future price of metals? Full sample versus sub-sample. Resources Policy, 92(2024):105040. |
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