Global Growth And Financial Spillovers And The South African Macro Economy
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Global Growth And Financial Spillovers And The South African Macro Economy
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Author : Mthuli Ncube
language : en
Publisher: Springer
Release Date : 2016-04-29
Global Growth And Financial Spillovers And The South African Macro Economy written by Mthuli Ncube and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-04-29 with Business & Economics categories.
To what extent is South Africa affected by G8 economies and BRIC growth shocks? This book identifies channels that amplify these shock effects, the relevance of third country transmission effects and the effects of the first and second rounds of US quantitative easing. The changing reactions of South African variables over time to financial shocks emanating from the US and selected countries in the Euro area, is presented. The book quantifies the effects of capital flow shocks, determines the counterfactuals of asset prices and economic growth variables, and compares the contribution of capital flows and domestic macro factors on asset prices. The effects of the exchange rate depreciation are contrasted to the decline in investment as key drivers of the trade balance. Stock market interdependence is determined amongst South African, Indian and Brazilian equities. The contributions of stock price returns and volatility on South African economic growth are contrasted. The authors construct a financial stress index for South Africa and determine how it amplifies shocks.
Capital Flows Credit Markets And Growth In South Africa
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Author : Nombulelo Gumata
language : en
Publisher: Springer Nature
Release Date : 2019-12-11
Capital Flows Credit Markets And Growth In South Africa written by Nombulelo Gumata and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-12-11 with Business & Economics categories.
This book examines the dynamics in capital flows, credit markets and growth in South Africa. The authors explore the role of global economic growth, policy shifts and various economic policy uncertainties. Central banks in advanced economies are engaged in unconventional monetary policy tools such as balance sheet policies, negative interest rates and extended forward guidance to assist them to meet their price, financial and macro-economic stability objectives. This book determines whether BRICS GDP growth is a source of shocks or an amplifier of global growth shocks. The authors find that global economic growth and policy uncertainty reinforce each other via capital flows, credit conditions and business confidence on the domestic economy. Furthermore, they demonstrate that there is momentum in the changes in the spread between the repo rate and federal funds rate. In addition, global real policy rates impact domestic GDP growth and labor market conditions. The authors examine the economic costs of capital flow surges, sudden stops and elevated portfolio volatility shocks and their interaction with GDP growth and credit. They show that equity and debt inflows matter in the attainment of the price stability mandate. Moreover, business confidence transmits sovereign credit ratings upgrades and downgrades shocks to the real economy via GDP growth, the cost of government debt and borrowing to impact credit growth. High GDP growth increases the likelihood of sovereign credit ratings upgrades, hence policymakers should implement pro-growth policies. Inflation regimes impact the transmission of positive nominal demand shocks to the price level. Low and stable inflation (inflation below 4.5 per cent) reduces the pass-through of positive nominal demand shocks to inflation.
Global Economic Uncertainties And Exchange Rate Shocks
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Author : Eliphas Ndou
language : en
Publisher: Springer
Release Date : 2018-01-08
Global Economic Uncertainties And Exchange Rate Shocks written by Eliphas Ndou and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-01-08 with Business & Economics categories.
This book examines the macroeconomic and regulatory impact of domestic and international shocks on the South African economy resulting from the 2009 financial crisis. It also assesses the impact of the US economy’s eventual recovery from the crisis and the prospect of higher US interest rates in future. Told in three parts, the book explores associations between economic growth, policy uncertainty and the key domestic and international transmission channels, and transmission effects, of global financial regulatory and domestic macro-economic uncertainties on subdued and volatile economic recovery, financial channels, lending rate margins, and credit growth. The book concludes by extending its focus to the role of US monetary policy, capital flows and rand/US dollar volatility on the South African economy.
Monetary Policy And The Economy In South Africa
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Author : M. Ncube
language : en
Publisher: Springer
Release Date : 2013-08-30
Monetary Policy And The Economy In South Africa written by M. Ncube and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-08-30 with Business & Economics categories.
Monetary Policy and the Economy in South Africa covers both modern theories and empirical analysis, linking monetary policy with relating house wealth, drivers of current account based on asset approach, expenditure switching and income absorption effects of monetary policy on trade balance, effects of inflation uncertainty on output growth and international spill overs. Each chapter uses data and relevant methodology to answer empirical and pertinent policy questions in South Africa. The book gives new insights into understanding these areas of economic policy and the wider emerging-markets.
Inward And Outward Spillovers In The Sacu Area
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Author : Mr.Jorge Iván Canales Kriljenko
language : en
Publisher: International Monetary Fund
Release Date : 2013-01-31
Inward And Outward Spillovers In The Sacu Area written by Mr.Jorge Iván Canales Kriljenko and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-01-31 with Business & Economics categories.
Spillovers from South Africa into the other members of the Souther Africa Customs Union (known as the BLNS for Botstwana, Lesotho, Namibia, and Swaziland) are substantial reflecting sizeable real and financial interlinkages. However, shocks to real GDP growth in South Africa do not seem to systematically affect growth developments in BLNS countries as a group. Nevertheless, vector autoregressions, which allow country-specific parameters, suggest some strong spillovers onto the smaller economies.
South Africa
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Author : International Monetary Fund. African Dept.
language : en
Publisher: International Monetary Fund
Release Date : 2016-07-07
South Africa written by International Monetary Fund. African Dept. and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-07-07 with Business & Economics categories.
This paper describes South Africa’s economic development and challenges. South Africa has made considerable economic and social progress over the past two decades, but faces substantial challenges. Global transitions—China’s slowdown and rebalancing, weak commodity prices, and U.S. monetary policy normalization—are taking a heavy toll on South Africa. Growth and employment, which were already low, are faltering and continue to underperform peer countries. Vulnerabilities remain elevated and have increased in the real and fiscal sectors. Boosting growth and job creation, thus reducing extremely high unemployment and inequality, and promoting social transformation remain South Africa’s key challenges.
Fiscal Policy Shocks And Macroeconomic Growth In South Africa
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Author : Eliphas Ndou
language : en
Publisher: Palgrave Macmillan
Release Date : 2023-10-01
Fiscal Policy Shocks And Macroeconomic Growth In South Africa written by Eliphas Ndou and has been published by Palgrave Macmillan this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-10-01 with Business & Economics categories.
This book explores the disconnect between fiscal policy and macroeconomic development in South Africa. It analyses the factors that have contributed to the lack of economic growth in the country over recent decades and outlines an improved fiscal policy framework that increases investment and employment. Particular attention is given to the impact of government debt and its relationship with GDP, the connection between budget deficits and interest rates, and how economic policy uncertainty affects employment dynamics and inflation. This book provides practical fiscal policy suggestions to increase economic growth in South Africa and Africa more generally. It will be relevant to researchers and policymakers interested in African economics and economic policy.
Finance And Trade In Africa
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Author : A. Geda
language : en
Publisher: Springer
Release Date : 2002-05-21
Finance And Trade In Africa written by A. Geda and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2002-05-21 with Business & Economics categories.
What constraints do history and the global economy place upon Africa's economic development? To answer this question, Alemayehu Geda offers a new study of international finance and trade in Africa using a global macro model focused on the region. A unique study of the African continent, this book offers development economists and policymakers an innovative alternative to the IMF and World Bank's framework for national development strategy.
Globalization And The Southern African Economies
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Author : Mats Lundahl
language : en
Publisher: Nordic Africa Institute
Release Date : 2004
Globalization And The Southern African Economies written by Mats Lundahl and has been published by Nordic Africa Institute this book supported file pdf, txt, epub, kindle and other format this book has been release on 2004 with Business & Economics categories.
Focuses on the place of Southern Africa in the globalized economy. Identifies the overall economic trends in the African continent and the responses, required and actual, to the impact of an increasingly interdependent world economy.
The Determinants Of Stock Market Development In Emerging Economies
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Author : Charles Amo Yartey
language : en
Publisher: International Monetary Fund
Release Date : 2008-02
The Determinants Of Stock Market Development In Emerging Economies written by Charles Amo Yartey and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-02 with Business & Economics categories.
This paper examines the institutional and macroeconomic determinants of stock market development using a panel data of 42 emerging economies for the period 1990 to 2004. The paper finds that macroeconomic factors such as income level, gross domestic investment, banking sector development, private capital flows, and stock market liquidity are important determinants of stock market development in emerging market countries. The results also show that political risk, law and order, and bureaucratic quality are important determinants of stock market development because they enhance the viability of external finance. This result suggests that the resolution of political risk can be an important factor in the development of emerging stock markets. The analysis also shows the factors identified above as determining stock market development in emerging economies can also explain the development of the stock market in South Africa.