United States


Previous studies on the J–curve phenomenon for South Africa have been carried out using either aggregate trade data between South Africa and the rest of the world or between South Africa and her major trading partners. The evidence of J-curve effects in South Africa's bilateral trade have been mixed. In this paper, we revisit this issue by examining the short- and long-run effects of exchange rate changes on trade flows in the context of disaggregated industry data on bilateral trade between South Africa and the United States.

Are Justices of the US Supreme Court Islands Unto Themselves? Examining external influences on US Supreme Court rulings in securities cases

This paper examines whether the voting behavior of Supreme Court justices in 49 cases related to securities legislation since 1936, shows systematic variation in a range of measures of the personal ideological stance of the justices, a range of measures of prevailing economic conditions, and a range of measures of prevailing political conditions. We find that the voting behavior does vary significantly with respect to all three. Conservative justices are more likely to vote against shareholder rights, and in favour of business rights, than are more liberal justices.

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