English, Article, Journal or magazine article edition: The significance of the Cape trade route to economic activity in the Cape colony: a medium-term business cycle analysis Willem H Boshoff; Johan Fourie

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Bookmark: http://trove.nla.gov.au/version/54175
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • The significance of the Cape trade route to economic activity in the Cape colony: a medium-term business cycle analysis
Author
  • Willem H Boshoff
  • Johan Fourie
Physical Description
  • preprint
Notes
  • Trade is a critical component of economic growth in newly settled societies. This paper tests the impact of ship traffic on the Cape economy using a time series smoothing technique borrowed from the business cycle literature and employing an econometric procedure to test for long-run relationships. The results suggest a strong systematic co-movement between wheat production and ship traffic, with less evidence for wine production and stock herding activities. While ship traffic created demand for wheat exports, the size of the co-movement provides evidence that ship traffic also stimulated local demand through secondary and tertiary sector activities, supporting the hypothesis that ship traffic acted as a catalyst for growth in the Cape economy.
  • Colonial trade, Cape of Good Hope, Dutch East India, Band-pass filter, Medium-term fluctuations, Business cycle, South Africa, Ships, Harvest cycles, Colonial economy
  • RePEc:sza:wpaper:wpapers71
Language
  • English
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