During the autumn break Dr Anmar Pretorius received her PhD degree at the University of Johannesburg. The topic of her thesis was “An empirical analysis of South Africa’s financial market integration with the world”. The formal laudation reads as follows:
After obtaining her bachelor’s degree at the former University of the Orange Free State (UOFS) in 1991, Ms Pretorius graduated with an honours degree Cum Laude in 1992, an MCom (Economics) Cum Laude in 1993, and a Higher Education Diploma Cum Laude in 1996 from the same university. She received the Dean’s Medal for the best honours student in the Faculty of Economic and Management Sciences at the UOFS in 1992.
Ms Pretorius is currently employed as a senior lecturer in the School of Economics at the North-West University (NWU). Prior to joining the NWU, she lectured at the University of the Free State, University of South Africa and Monash South Africa. She is married to Derick Blaauw.
Ms Pretorius’s research focused on South Africa’s financial market integration with the world. The empirical study included the stock, bond and currency markets. The results indicate that variation in the global stock market is much more synchronised than in the other two markets. Rolling regressions confirm that the level of integration in all three markets varies and exhibits an increasing trend over time. Variations in the stock and bond markets are better explained by common factors from emerging markets. In the currency market, however, common factors from developed markets explain a larger share of the variation in the South African market.
The study contributes to our understanding of dynamics of globalisation on the South African financial market, particularly during periods of market turmoil. The originality of the study lies in its focus on the time-varying nature of integration as well as the linking of common factors driving the global financial markets to specific macroeconomic variables. Findings of the thesis have already been presented at two local and two international conferences and submitted for publication in an international peer-reviewed journal.
Congratulations Dr Anmar!