Has the SARB become more effective post inflation targeting?

This paper assesses the impact of a monetary policy shock on 15 key macroeconomic variables of South Africa, in the pre- and post-inflation targeting periods. For this purpose, we use a Factor-Augmented Vector Autoregressive (FAVAR) model comprising of 107 monthly time series over two equal sub-samples of 1989:01–1997:12 and 2000:01–2008:12. The results, based on impulse response functions, are in line with economic theory and indicate no puzzling effects often observed with small-scale monetary Vector Autoregressive (VAR) models. More importantly, we find that the ability of monetary policy in affecting key macroeconomic variables, including inflation, has increased in the post-targeting period. But, majority of the effects are insignificant, which could, however, also be due to the shorter-lengths of the sub-samples relative to the number of variables used in this study, rather than depicting the inability of monetary policy to significantly affect the South African economy.     

The paradoxical meanings of the artifact owls (Athene noctua) at the University of South Africa: An impediment to transformation,decolonization, and Africanization discourse

This paper interprets the expressions embedded in the artifact Owls displayed at the Theo Van Wijk building of the University of South Africa (Unisa) in relation to the university's transformation, decolonization, and Africanization discourse. These artifacts are said to depict Unisa as a space of wisdom; this in terms of Greek mythology and philosophy. The use of Greek mythology and philosophy in a university meant to be promoting African values, systems, and beliefs contradicts the university's transformation, decolonization, and Africanization discourse. Philosophical inquiry was adopted to intellectually interpret what these artifact Owls expressed. The paper found that these Owls are a point of contestation and conflict between Western and African cultures. The perpetual display of these Owls upholds and sustains tendencies of colonialism and apartheid although discarding Africannes. Unisa is reduced into a Western‐centric space of little and irrelevant significance for the postapartheid democratic state. These artifact Owls must be removed and replaced by an African‐friendly symbolism of wisdom. Sankambe could be the best option.