South Africa: Macro Policy Mix and Its Effects on Growth and the Real Exchange Rate--Empirical Evidence and GIMF Simulations

South Africa: Macro Policy Mix and Its Effects on Growth and the Real Exchange Rate--Empirical Evidence and GIMF Simulations
Volume/Issue: Volume 2011 Issue 004
Publication date: August 2011
ISBN: 9781475510157
$20.00
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Topics covered in this book

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Banks and Banking , Public Finance , DPPP , DP , exchange rate , terms of trade , countercyclical monetary policy , reaction function , output-gap coefficient , World output gaps , monetary policy reaction , currency appreciation , Real interest rates , Output gap , Real exchange rates , Africa , Global , Asia and Pacific

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Summary

This paper examines whether a mix of tighter fiscal policy, looser monetary policy, and greater reserve build-up would increase growth and depreciate the rand in real terms. The experience of South Africa over the last twenty years is looked at using a number of econometric techniques that control for the external environment.

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