Original Research

Micro-level tests for rational expectations in South Africa

D. J. Marais, E. V.D.M. Smit, W. J. Conradie
South African Journal of Business Management | Vol 28, No 1 | a785 | DOI: https://doi.org/10.4102/sajbm.v28i1.785 | © 2018 D. J. Marais, E. V.D.M. Smit, W. J. Conradie | This work is licensed under CC Attribution 4.0
Submitted: 15 October 2018 | Published: 31 March 1997

About the author(s)

D. J. Marais, Graduate School of Business, University of Stellenbosch, South Africa
E. V.D.M. Smit, Graduate School of Business, University of Stellenbosch, South Africa
W. J. Conradie, Department of Statistics, University of Stellenbosch, South Africa

Full Text:

PDF (1MB)

Share this article

Bookmark and Share

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.

Keywords

No related keywords in the metadata.

Metrics

Total abstract views: 144
Total article views: 72


Crossref Citations

No related citations found.