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Wine Cycles in South Africa

Author

Listed:
  • Vink, Nick
  • Boshoff, Willem H.
  • Fourie, Johan
  • van Jaarsveld, Rossouw

Abstract

In this article, medium-run cycles in wine production in South Africa are extracted and related to similar cycles in real GDP per capita during the same period. In addition to removing noise in the historical data, smoothing out short-run fluctuations also eliminates the short-run impact on agricultural production due to idiosyncratic shocks such as weather events, wars, and vine diseases. By isolating the medium-run cycles, it is possible to verify the timing and duration of each cycle, matching it with the historical narrative. In this regard, a 300-year annual data series of South African wine production explains the evolution not only of one of the largest agricultural sectors, but of the South African economy in general. (JEL Classifications: C10, N57, Q10).

Suggested Citation

  • Vink, Nick & Boshoff, Willem H. & Fourie, Johan & van Jaarsveld, Rossouw, 2018. "Wine Cycles in South Africa," Journal of Wine Economics, Cambridge University Press, vol. 13(2), pages 182-198, May.
    • Handle: RePEc:cup:jwecon:v:13:y:2018:i:02:p:182-198_00
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    Cited by:

    1. Jair N. Ojeda-Joya & Oscar Jaulin-Mendez & Juan C. Bustos-Peláez, 2019. "The Interdependence Between Commodity-Price and GDP Cycles: A Frequency-Domain Approach," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 47(3), pages 275-292, September.
    2. Ghate, Chetan & Pandey, Radhika & Patnaik, Ila, 2013. "Has India emerged? Business cycle stylized facts from a transitioning economy," Structural Change and Economic Dynamics, Elsevier, vol. 24(C), pages 157-172.

    More about this item

    JEL classification:

    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • N57 - Economic History - - Agriculture, Natural Resources, Environment and Extractive Industries - - - Africa; Oceania
    • Q10 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - General

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