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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Pricing behaviour in South African manufacturing industry: 1945-82
Author:Fedderke, J.W.ISNI
Periodical:South African Journal of Economics
Geographic term:South Africa
External link:https://doi.org/10.1111/j.1813-6982.1992.tb01025.x
Abstract:Recent debate concerning future economic policy for South Africa has proved the need for a coherent strategy toward the manufacturing sector. Discussion surrounding inward industrialization, the limited possibilities of import substitution, and the problems associated with export drives have all highlighted the need. The aim of this paper is to establish one of the characteristics of the South African manufacturing sector, in order to be of some assistance in this regard. In particular, it examines pricing behaviour in manufacturing industry, taking theoretical and econometric work on developed industrialized nations as a starting point. In examining pricing behaviour, the paper distinguishes between the excess demand model and the mark-up pricing model. It analyses both the nominal normalized unit variable cost and the real total normalized variable cost in the two models. The results support the mark-up pricing model, rather than the excess demand pricing model. Bibliogr., notes, ref.