Abstract
The definition of personal savings: The South African situation 1965.1 to 1984.4 The personal savings definition and through that also the time series of personal savings in South Africa in common use, can be described as personal savings as published, amongst others, by the South African Reserve Bank. In the computation of the above time series there are certain deficiencies and the time series has been queried since the sixties. The objective of this study was to undertake an empirical study of the definition of personal savings in South Africa and through that also the time series of personal savings, and possibly to improve on these. It was indicated that the published personal savings cannot be regarded as a good definition of personal savings in South Africa. Various alternative personal savings definitions were studied critically and it was indicated that it would seem that long-term insurance premiums plus pension fund contributions (i.e. contractual personal savings) should constitute the personal savings definition for South Africa.
Highlights
It was indicated that there are no near-substitutes for long-term insurance premiums plus pension fund contributions in the South African process of investment
In the computation of the above time series there are certain deficiencies and the time series has been queried since the sixties
The objective of this study was to undertake an empirical study of the definition of personal savings in South Africa and through that the time series of personal savings, and possibly to improve on these
Summary
Die eerste stap in die proses om persoonli.ke besparing te definieer was die identifisering van persoonlike besparingsfunksies. Agtien persoonlike besparingsfunksies is met bebulp van 'n literatuursoektog identifiseer. Uit die bree verwantskap tussen inkome, verbrui.k en besparing, naamlik dat besparing di~ deel van 'n verbruiker se inkome is wat oorbly nadat hy verbrui.k bet, kan geargumenteer word dat die faktore wat verbrui.k bei:nvloed, ook persoonlike besparing bei:nvloed, maar net in die omgekeerde rigting. Die funksies wat persoonli.ke verbrui.k beskryf kan daarom ook gebruik word om persoonlike besparing te beskryf. Die funksies wat gefdentifiseer is, beskryf persoonlike besparing en/of verbruik en die detenninante daarvan in die buiteland en ten opsigte van verbruik ook in SuidAfrika (kyk Van Zyl, 1970; Stuart, 1979).
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