Financial planning in metropolitan municipalities—lessons for South Africa from selected countries

In South Africa, municipalities are central to government's service delivery efforts to its communities. Because of inadequate revenue collection processes or impoverished communities that are unable to supply necessary operational revenues, both national and provincial government need to transfer funds to the local government to achieve delivery of priority services and economic development infrastructure. This study investigates, through a desktop study, the best financial planning practices for municipalities to implement in order to be financially viable, by reviewing and comparing the legislative and legal frameworks relating to financial planning and the financial planning practices in Australia and New Zealand, whose legislation served as an example for the drafting of current South African legislation. Copyright © 2014 John Wiley & Sons, Ltd.     

The ‘true protection’ concept ‐ a comment on Greenaway and Milner

Empirical studies estimating shift‐parameters to evaluate the ‘true protection’ especially for developing countries often reach the result that those parameters have very high values. This study is to show that it is not substitutional relationships but much more the very inflationary monetary policy of many developing countries which forces the shift‐parameters towards one. Moreover it is shown that it makes little sense to distinguish between ‘traditional’ and ‘non‐traditional’ exports and that shift‐parameters are not necessarily stable over time.