Micro-level tests for rational expectations in South Africa

Marais, D. J.; Smit, E. V.D.M.; Conradie, W. J.

doi:doi:10.4102/sajbm.v28i1.785

Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/218165

Title:

Micro-level tests for rational expectations in South Africa

Authors:

Marais, D. J.
Smit, E. V.D.M.
Conradie, W. J.

Year of Publication:

1997

Citation:

[Journal:] South African Journal of Business Management [ISSN:] 2078-5976 [Volume:] 28 [Issue:] 1 [Publisher:] African Online Scientific Information Systems (AOSIS) [Place:] Cape Town [Year:] 1997 [Pages:] 15-26

Publisher:

African Online Scientific Information Systems (AOSIS), Cape Town

Abstract:

The article investigates entrepreneurial expectations formation along the lines of the rational expectations hypothesis. It utilizes micro-level business survey data from the Bureau for Economic Research and distinguishes between phases of the business cycle, consumer and capital goods industries and various degrees of sectoral economic concentration. Very little evidence of weak form rationality is present in the data which concurs with similar international evaluations.

Persistent Identifier of the first edition:

doi:10.4102/sajbm.v28i1.785

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