Research

Department of Economics

Staff research profiles

Professors
Prof D Hodge Office: 4-11 Email: hodged@unisa.ac.za	Prof Hodge holds a DCom (Economics) degree from Rhodes University. He has published various articles on philosophy of economics in the areas of realism in economics, the connection between economic theory and reality, and applied methodology. Supervision: Qualitative studies
Prof P Lalthapersad-Pillay Office: 4-34 Email: lalthp@unisa.ac.za Research profile: Unisa IR	Prof Lalthapersad-Pillay holds a PhD (Economics) degree from Vista University. Her research focus is on gender issues, poverty, the informal sector and other topics in development economics. Supervision: Qualitative studies
Prof NM Odhiambo Office: 4-50 Email: odhiam@unisa.ac.za Research profile: Ideas/RePEc	Prof Odhiambo holds a PhD (Economics) degree from Stellenbosch University. His broad area of research is in Development Economics, Macroeconomics, International Economics and Monetary Economics. He is also the chairperson of the Macroeconomic Policy Analysis (MPA) research programme. Prof Odhiambo holds an NRF C2 rating. Supervision: Quantitative (Time series econometrics and Panel Data Analysis) Econometrics: Advanced
Prof Z Robinson Office: 5-77 Email: robinz@unisa.ac.za Research profile: ORCID	Prof Robinson holds a PhD (Economics) from the University of Cape Town. Her research focuses mainly on Public Economics, finance and mineral issues. Supervision: Quantitative and qualitative research (Time series and Panel Data Analysis) Econometrics: Advanced
Prof T van der Merwe Office: 4-27 Email: vdmert@unisa.ac.za Research profile: Unisa IR ORCID	Prof Van der Merwe holds a PhD (Economics) degree from the University of South Africa. His research focuses on public economics, especially social security issues, as well as the economics of language. Supervision: Qualitative research Econometrics: Basic
Associate Professors
Prof SY Ho Office: 4-22 Email: hosy@unisa.ac.za Research profile: ORCID	Dr Sin-Yu Ho holds a PhD (Economics) from the University of South Africa and a C2 rating from the National Research Foundation (NRF). Her research focuses on topics relating to Development Finance, Financial Economics, and Development Economics in emerging markets and developing countries. Supervision: Quantitative and qualitative research (Time series econometrics) Econometrics: Intermediate
Prof TLA Leshoro Office: 4-44 Email: lesholat@unisa.ac.za Research profile: Ideas/RePEc Google Scholar	Prof Leshoro holds a PhD (Economics) from the University of the Witwatersrand. Her research interests are Monetary Economics and Macroeconomics. Supervision: Quantitative research (Time Series and Panel Data Analysis) Econometrics: Advanced
Prof MR Malefane Office: 4-41 Email: malefmr@unisa.ac.za	Prof Malefane holds a PhD (Economics) from the University of South Africa. Her research interests are in economic growth, International trade and International Finance. Supervision: Quantitative research (Time series econometrics) Econometrics: Intermediate
Prof N Mkhize (CoD) Office: 4-37 Email: mkhizni@unisa.ac.za Research profile: ORCID	Prof Mkhize holds a PhD (Economics) degree from the University of South Africa. His research focus areas include Labour Economics, Open Economy Macroeconomics, inclusive growth, Public Finance, and Health Economics. Supervision: Qualitative and quantitative (Time series econometrics) Econometrics: Intermediate
Prof B Moyo Office: 4-45 Email: moyob@unisa.ac.za Research profile: Google Scholar	Prof Moyo holds a PhD (Economics) from the University of the Witwatersrand. His research interests are in Microeconomics, International trade and International Finance. Prof Moyo also holds an NRF Y2 rating. Supervision: Quantitative (Micro-econometrics, Panel data analysis, CGE modelling) Econometrics: Advanced
Prof S Nhamo Office: 4-21 Email: nhamos@unisa.ac.za Research profile: ORCID	Prof Nhamo holds a PhD(Economics) degree from the University of the Witwatersrand. Her research focuses on topics relating to Environmental Economics, Development Economics and Health Economics. Supervision: Quantitative and qualitative research Econometrics: Advanced
Prof PH van Eeghen Office: 4-39 Email: veeghph@unisa.ac.za	Prof Van Eeghen holds a DCom (Economics) from the University of South Africa. His research interests include Monetary Economics, Money and Banking, and Institutional Economics. Supervision: Qualitative, conceptual research Econometrics: Rudimentary
Senior Lecturers
Dr K Amusa Office: 4-47 Email: amusako@unisa.ac.za Research profile: ORCID	Dr Amusa holds a PhD (Economics) degree from the University of Pretoria. Her research interests are in the area of international trade theory and policy and economic growth issues as regards developing economies. Supervision: Quantitative research (Time series econometrics and Panel data analysis) Econometrics: Intermediate
Dr SJ Joubert Office: 4-46 Email: sjjoube@unisa.ac.za	Dr Joubert holds a DCom (Economics) from the University of South Africa. His research interests include financial markets, household finances and fiscal sustainability. Supervision: Quantitative research (Time series econometrics) Econometrics: Advanced
Dr S Kennedy-Palmer Office: 5-71 Email: kennes@unisa.ac.za	Dr Kennedy-Palmer holds a PhD (Economics) from the University of Cape Town. Her research interests are in financial markets, financial instruments and systemic risk. Supervision: Quantitative research (Time series and panel data econometrics) Econometrics: Intermediate
Dr I Maloma Office: 4-06 Email: malomi@unisa.ac.za	Dr Maloma holds a PhD (Economics) degree from the North West University. Dr Maloma’s research focus is on Economic development, poverty and Local Economic Development. Supervision: Quantitative and Qualitative research Econometrics: Basic
Dr T Rametsi Office: 4-09 Email: rametts@unisa.ac.za	Dr Rametsi holds a PhD (Economics) degree from the North-West University. His research focus is in International Economics. Supervision: Qualitative and quantitative Econometrics: Basics
Dr C Vermeulen Office: 4-13 E-mail: vermejc@unisa.ac.za Research profile: Ideas/RePEc ORCID	Dr Vermeulen holds a PhD (Economics) degree from the University of Pretoria. His research is focused mainly on monetary economics (including the role and independence of the central bank, the impact of inflation and inflation targeting on growth and employment), as well as business cycles, asset markets and general equilibrium modelling. Supervision: Qualitative and quantitative (Time series econometrics, DSGE modelling) Econometrics: Intermediate
Dr M Zuka Office: 4-43 Email: zukam@unisa.ac.za Research profile: ORCID	Dr Zuka holds a PhD (Financial Economics) from the Nelson Mandela Metropolitan University. His research focuses on topics relating to bayesian econometrics under ambiguity, financial economics, macroeconomics and macro - finance channels. The specific focus areas are: Asset pricing models Non-parametric bayesian mixture approximation techniques. Portfolio Optimization & Value at Risk. Macroprudential Policy and Pension Fund Reforms Asset Class Coverage: Hedge Funds, Exchange Traded Funds, Sovereign Debt, Equities, Commodities and Forex. DSGE Models. Special Topics in Mathematical Statistics Supervision: Qualitative Econometrics: Advanced
Lecturers
Ms G Maluleke Office: 4-15 Email: malulg@unisa.ac.za	Ms Maluleke holds an MCom (Economics) degree from the University of South Africa. Her research interests are in Macroeconomics, Public Finance, Economic Development and International Trade.

Recent publications

Masike, K.A.P. & Vermeulen, C. (2022). The time-varying elasticity of South African electricity demand. Energy, 238(Part C). https://doi.org/10.1016/j.energy.2021.121984
Mandeya, S.M., & Ho, S.Y. (2022). Inflation, Inflation Uncertainty and the Economic Growth Nexus: A Review of the Literature. Folia Oeconomica Stetinensia, 22(1), 172-190. https://doi.org/10.1016/j.mex.2021.101501
Iyke, B.N., & Ho, S.Y. (2021). Exchange rate exposure in the South African stock market before and during the COVID-19 pandemic. Finance Research Letters, 43, 102000.
Malefane, M.R. 2021. Export-led growth hypothesis: empirical evidence from the Southern African Customs Union countries, Entrepreneurial Business and Economic Review, 9(2): 55 – 70. https://doi.org/10.15678/EBER.2021.090204
Malefane, M.R. 2021. Causality between foreign direct investment, exports and economic growth in Lesotho. International Journal of Sustainable Economy, 13(4): 402 – 419.
Ho, S.Y., and Iyke, B.N. 2021. Short and long-term impact of trade openness on financial development in Sub-Saharan Africa. The Journal of Developing Areas, 55(1).
Mdingi, K., and Ho, S.Y. 2021. Literature Review on Income Inequality and Economic Growth. MethodsX, 101402. https://doi.org/10.1016/j.mex.2021.101402.
Mandeya, S.M.T., and Ho, S.Y. 2021. Inflation, inflation uncertainty and the economic growth nexus: An impact study of South Africa. MethodsX, 8, 101501. https://doi.org/10.1016/j.mex.2021.101501.
Masike, K. and Vermeulen, C. 2021. The time-varying elasticity of South African electricity demand. Energy, 238(Part C). https://doi.org/10.1016/j.energy.2021.121984.
Vermeulen, C. 2021. 100 years of private shareholding in the South African Reserve Bank. Economic History of Developing Regions, 36(2), pp.245–263.
Vermeulen, C. and Rossouw, J. 2021. Metrisering: 50 jaar sedert die jaart (Metrication: 50 years since the yard). South African Journal of Science and Technology, 40(1), pp.12–19.
Amusa, K, Monkam, N. and Viegi, N. 2020. Can foreign aid enhance domestic resource mobilisation in Nigeria? Journal of Contemporary African Studies, 38(2).https://doi.org/10.1080/02589001.2020.1774519
Malefane, M.R. 2020. Investigating the core-periphery relationship in the Southern African Customs Union. The Review of Black Political Economy. https://doi.org/10.1177/0034644620963040
Moyo, B. and Sibindi, A.B. 2020. Does Bank Competition Affect Credit Access in Sub-Saharan Africa? Evidence from World Bank Informal Firms Surveys. Journal of African Business. https://doi.org/10.1080/15228916.2020.1826857
Mupamhadzi, D. and Maloma, I. 2020. The impact of business environment on businesses' decision to formalise: Evidence from selected African countries. International Journal of Business and Management Studies, 12(2), pp.403-417.
Iyke, B. N. and Ho, S.Y. 2020. Investor attention on COVID-19 and African stock returns. MethodsX, 8, 101195. https://doi.org/10.1016/j.mex.2020.101195.
Leshoro, T.L.A. 2020. Impacts of Productive and Recurrent Public Expenditure on Economic Growth in South Africa: An Analysis using the ARDL-ECM. Journal of Economic and Financial Sciences, 13(1).
Robinson, Z. and De Beer, J. 2020. Revisiting the determinants of corporate income taxation in Southern Africa. Development Southern Africa. https://doi.org/10.1080/0376835X.2020.1842175
Vermeulen, C. 2020. On the mandate, ownership and independence of the South African Reserve Bank. South African Journal of Economic and Management Sciences, 23(1), pp.1-11. https://doi.org/10.4102/sajems.v23i1.3416.
Iyke, B.N. and Ho, S.Y. 2020. The effects of transitory and permanent inflation uncertainty on investment in Ghana. Economic Change and Restructuring, 53(1), pp.195-217. https://doi.org/10.1007/s10644-019-09252-w.
Malefane, M.R. 2020. Trade openness and economic growth in Botswana: evidence from cointegration and error-correction modelling. Cogent Economic and Finance, 8(1) https://doi.org/10.1080/23322039.2020.1783878.
Leshoro, T.L.A. and Maluleke, G. 2020. Direct vs Indirect impact of fuel price on wages in South Africa: An analysis using the Impulse-Response Function. Southern African Business Review 24(August). https://doi.org/10.25159/1998-8125/7885.
Ho, S.Y. and Odhiambo, N.M. 2020. The macroeconomic drivers of stock market development: evidence from Hong Kong. Journal of Financial Economic Policy, 12(2), pp. 185-207. https://doi.org/10.1108/JFEP-11-2018-0163.
Leshoro, T.L.A. 2020. Monetary Policy or Fiscal Policy, Which One Better Explains Inflation Dynamics in South Africa? African Journal of Business and Economic Research, 15(1), pp.27-54.
Ho, S.Y. and Iyke, B. N. 2020. The Determinants of Economic Growth in Ghana: New Empirical Evidence. Global Business Review, 21(3), pp.626-644. https://doi.org/10.1177/0972150918779282.
Iyke, B. N. and Ho, S.Y. 2020. Stock return predictability over four centuries: The role of commodity returns. Finance Research Letters, 101711. https://doi.org/10.1016/j.frl.2020.101711.
Nkosi, L. 2020. The Relationship Between Government Debt and State-Owned Enterprises: An Empirical Analysis of Eskom. International Journal of Economics and Finance Studies, 12 (1), pp.119-134.
Leshoro, T.L.A. 2020. An Analysis of the Importance of Terms of Trade in South Africa Using Impulse Response Function. Global Business Review. April 2020. https://doi.org/10.1177/0972150920916558
Amusa, K. and Oyinlola, M.A. 2019. The effectiveness of government expenditure on economic growth in Botswana. African Journal of Economic and Management Studies, 10(3), pp.368-384.
Iyke, B. N. and Ho, S.Y. 2019. Consumption and exchange rate uncertainty: Evidence from selected Asian countries. The World Economy, 43(9), pp.2437-2462. https://doi.org/10.1111/twec.12900
Kennedy-Palmer, S. 2019. South African historical interest rate volatility : evidence of regime-switching. Studies in Economics and Econometrics, 43(3), pp.111-132.
Malefane, M.R. and Odhiambo, N.M. 2019. Trade openness and economic growth: empirical evidence from Lesotho. Global Business Review. https://doi.org/10.1177/0972150919830812
Vermeulen, C., Joubert, F. and Rossouw, J. 2019. Suid-Afrikaanse aandelemarkontwikkeling: Die impak van globalisme en nasionalisme (South African stock market development: The impact of globalism and nationalism). Suid-Afrikaanse Tydskrif vir Natuurwetenskap en Tegnologie, 38(1), pp.1-11. https://doi.org/10.36303/SATNT.2019.38.1.722.
Ho, S.Y. 2019. Macroeconomic determinants of stock market development in South Africa. International Journal of Emerging Markets, 14(2), pp.322-342. https://doi.org/10.1108/IJoEM-09-2017-0341.
Asongu, S.A. and Odhiambo, N.M. 2019. Size, efficiency, market power, and economies of scale in the African banking sector. Financial Innovation, 5(1), p.4. https://doi.org/10.1186/s40854-019-0120-x.

Macroeconomic Policy Analysis (MPA) research flagship programme

The Department of Economics houses the Macroeconomic Policy Analysis (MPA) research programme, which was first established in 2013, under the leadership of Prof Nicholas Odhiambo. The main purpose of the MPA programme is to evaluate some of the macroeconomic policies that have a direct or indirect bearing on economic growth and poverty reduction, as well as other socio-economic policy variables. The programme also has its signature working paper series entitled “UNISA Economic Research Working Paper Series” (https://ideas.repec.org/s/uza/wpaper.html ), which is currently used to disseminate some of its research findings to the international community. This working paper series (which was established in 2015) is currently indexed by RePEc/IDEAS (hosted by the Research Division of the Federal Reserve Bank of St. Louis, USA); and it is also available on Google Scholar. The MPA programme currently has about 20 doctoral students.

Contact details:

Prof NM Odhiambo Chair (MPA)	odhiam@unisa.ac.za 012 433 4673
Ms M Mokgele Administrative officer	mokgemc@unisa.ac.za 012 433 4624

Current postgraduate students

Current research and topics of our masters and doctoral students can be viewed here.

Seminar series

The Department hosts a regular seminar series, where staff members, graduate students and invited guests from academia and industry present talks or recent research.

Last modified: 2023/08/07