“…2011;Ncube and Ndou 2011;Aye, Gupta, and Modise 2012;Peretti, Gupta, and Inglesi-Lotz 2012;and Simo-Kengne, Gupta, and Bittencourt forthcoming). Also, the timevarying approaches of Aye, Gupta, and Modise (2012) and Peretti, Gupta, and Inglesi-Lotz (2012) show that the South African economy began slowing by the end of 2007, as the stock and housing markets entered deep bear markets (Venter 2011 andSimo-Kengne et al 2013).…”