Search

Errata slips inserted.

Maluti-a-Phofung (MAP) municipal area is currently experiencing high unemployment and poverty rates. The structural weaknesses and problems of the economy of MAP local municipality highlight the importance and urgency of Local Economic Development (LED) in MAP. This paper reports the results of a study carried out to investigate constraints in the growth of multipliers around local shopping centres in the area south of Phuthaditjhaba, Maluti-a-Phofung. The methodology involved field observations, the administration of interviews to a random sample of ten households in the vicinity of each of the eight shopping centres and another sample of five business units at each centre. The results were analyzed using Pearson's correlation in order to test three hypotheses based on business structure, location and multipliers. The findings indicate that these shopping centres are not able to meet the diverse shopping needs of the community and patronage levels are extremely low. This has serious implications for these centres in generating economic growth multipliers in the local community.

Current trend in Integrated Circuits (IC) implementation such as System-on-Chip has contributed significant advantages in electronic product features such as high circuit performance with high number of functions, small physical area and high reliability. Since the development of System-on-Chip, which is based on integrating subsystems supplied by various Intellectual Properties (IP) Block vendors, the required design time is shorter when compared to that of full-custom IC implementation. However, testing each internal subsystems using the common scan-path method where test data are generated and analyzed externally is considered too time consuming when the number of subsystems is high. Therefore, by including Built-In-Self-Test (BIST) facility into each subsystem is considered a good solution. Commonly, BIST structure is based on random test data generation from a Linear Feedback Shift Register (LFSR) due to its simple, small and economical circuit structure. Since t he number of subsystems in an IC chip is going to be increased from time to time, improvement on the BIST approach is required to provide shorter testing time while keeping the good features of LFSR. For this reason, development of test pattern for BIST based on combination of LFSR and deterministic approach could provide one of the solutions to reduce the testing time. In this research, the possibility of combining LFSR features and deterministic test pattern was carried out. A parallel high-speed multiplier considered as one of the demanding subsystems was chosen to verify the proposed BIST performance. Results show that the testing time (with 100% fault coverage) was reduced significantly when compared to the testing time taken for the BIST that was totally based on random test data generation. One of the reasons for this achievement is only one basic cell of the multiplier is required to determine the test pattern by considering the data flow from one cell to another. Identical test data can then b

In tests performed for the period 1897 to 1958, Milton Friedman and David Meiselman found that income velocity of circulation of money was consistently more stable than the investment multiplier except during the early years of the Great Depression. This paper replicates their test for the period 1959 to 1986. The results for this later period are consistent with the Friedman-Meiselman findings. The stock of money remains the more stable and consistent influence on consumption; autonomous expenditures do not influence consumption during any sub-period studied. The money stock remains far more critical than autonomous expenditures in explaining movements in consumption. The replication consists of a series of regression equations for consumption expenditures as a function of the stock of money and of autonomous expenditures. Data in both nominal and real terms are used. Data are lagged five quarters to test the effect on consumption.

Income and employment multipliers are used to estimate the likely impact of forest-based industries in four regions of New Zealand: Northland, Rotorua, Westland, and Otago. The results obtained for each region are used to determine the variability of multipliers from one region to another and to evaluate the loss of potential income and employment as a consequence of leakage effects. Regional income multipliers are calculated using the Keynesian model while regional employment multipliers are calculated using an ad hoc model designed to take into consideration the influences of regional variations in under-employment. The data for the study were obtained from a questionnaire survey of sector plants and employees in each study region. Where appropriate supporting data were derived from published statistics. Estimated values for the calculated multipliers fall between 1.20 and 1.80. These figures suggest that the leakage factor resulting from high regional imports, taxation, and unspent profits may be larger than previously believed. It is also concluded that regional income and employment multipliers vary from one region to another for a wide variety of reasons, many of which relate to plant characteristics rather than to regional characteristics. For this reason it may be more appropriate to calculate multipliers for individual plants in the regional context rather than regional multipliers based on the combined and multivariate impacts of a group of plants.