An analysis of inventory investment in South Africa

Show simple item record Smith, H. Blignaut, James Nelson Van Heerden, J.H. (Jan Horn), 1957- 2007-09-18T11:07:43Z 2007-09-18T11:07:43Z 2006-03
dc.description.abstract This paper describes the evolution of inventory investment in South Africa over the past two decades, and identifies the factors influencing inventory investment over this period. An econometric model of inventory investment in South Africa, based on the production smoothing approach, is constructed. The results of the model indicate that actual sales, production, unfilled orders, price levels, interest rates and expected sales have an influence on the evolution of inventory investment. These variables are directly or indirectly influenced by macroeconomic policy decisions and through their influence on inventory investment they also influence changes in gross domestic product. Therefore, prior information on the factors that influence inventory investment contributes to explaining changes in gross domestic product and may help to prepare more accurate short-term forecasts of overall economic activity. en
dc.format.extent 238735 bytes
dc.format.mimetype application/pdf
dc.identifier.citation Smith, H, Blignaut, JN & van Heerden, JH 2006, 'An analysis of inventory investment in South Africa', South African Journal of Economics, vol. 74, no. 1, pp. 6-19. [] en
dc.identifier.issn 0038-2280
dc.language.iso en en
dc.publisher Blackwell en
dc.rights Blackwell. The definitive version is available at en
dc.subject Inventory investment en
dc.subject South Africa en
dc.subject Actual sales en
dc.subject Production en
dc.subject Unfilled orders en
dc.subject Price levels en
dc.subject Interest rates en
dc.subject Expected sales en
dc.subject Macroeconomic policy en
dc.subject.lcsh Investments -- South Africa
dc.subject.lcsh Inventories -- South Africa
dc.title An analysis of inventory investment in South Africa en
dc.type Postprint Article en

Files in this item

This item appears in the following Collection(s)

Show simple item record