Inflation And Economic Growth In Southern African Countries PDF Download
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Author | : Priscilla Iriagbonse-Alikor |
Publisher | : |
Total Pages | : 0 |
Release | : 2022 |
Genre | : |
ISBN | : |
Download Inflation and Economic Growth in Southern African Countries Book in PDF, ePub and Kindle
This paper investigates the nonlinear impact of inflation on growth using a balanced panel data set of Southern African Countries from 1980-2021. The estimated results are robust across different competing econometrics techniques. The study observed that economic growth is impacted differently at low and high inflation levels. At a low level of inflation, the study found a positive and significant impact of inflation on economic growth. Economic growth is inflation-inducing below the inflation threshold. However, at a high level of inflation, economic growth is negatively and significantly impacted. For countries with an average inflation rate below the identified threshold (24.7%), the inflation rate has a strong positive impact on economic growth. This suggests that the marginal impact of inflation on economic growth starts becoming negative at 24.7%. Moreover, against theoretical expectations, a high inflation rate does not appear to reduce economic growth by crowding out investment in physical capital. The negative impact of inflation on economic growth operates through a lower quality of population growth rather than population growth per se. Overall, the empirical findings of this study provide policy direction to the government and monetary authorities.
Author | : P. H. Spies |
Publisher | : |
Total Pages | : 102 |
Release | : 1986 |
Genre | : Economic forecasting |
ISBN | : |
Download Long-term Economic Growth and Inflation in South Africa Book in PDF, ePub and Kindle
Author | : International Monetary Fund. African Dept. |
Publisher | : International Monetary Fund |
Total Pages | : 38 |
Release | : 2020-01-30 |
Genre | : Business & Economics |
ISBN | : 1513528513 |
Download South Africa Book in PDF, ePub and Kindle
This Selected Issues paper studies the growth-inflation trade-off of monetary policy in South Africa. The combination of low growth and stubbornly high inflation expectations for a protracted period has complicated monetary policy decisions. The IMF staff analysis contributes to the ongoing growth-inflation trade-off discussion in South Africa, concluding that there is limited growth trade-off of monetary policy efforts to anchor inflation expectations at a lower level at present. The findings in this note suggest that the South African Reserve Bank should continue its efforts of anchoring inflation and inflation expectations at a lower level because monetary policy lends limited support to growth dampened by structural issues. During the 2010s, domestic demand growth responded little to monetary policy action. The environment of weak growth, low interest rates, and relatively moderate inflation (expectations) could have muted monetary policy transmission. Ultimately, the constraints to economic growth need to be removed. Meanwhile, inflation expectations continue to respond to monetary policy action albeit to a lesser extent. Monetary policy transmission through demand has weakened––demand growth does not systematically respond to monetary policy action nor does core inflation––but the exchange rate and credibility channels appear to remain operational.
Author | : Pieter Cornelis Smit |
Publisher | : Juta and Company Ltd |
Total Pages | : 758 |
Release | : 1996 |
Genre | : Business & Economics |
ISBN | : 9780702134470 |
Download Economics Book in PDF, ePub and Kindle
This text provides an introduction to the central tenets of economic theory. Each section of the book takes the reader from the elementary to the more advanced theories and applications, and is written from a Southern African perspective.
Author | : Mr.Gunnar Jonsson |
Publisher | : International Monetary Fund |
Total Pages | : 25 |
Release | : 1999-08-01 |
Genre | : Business & Economics |
ISBN | : 1451853912 |
Download The Relative Merits and Implications of Inflation Targeting for South Africa Book in PDF, ePub and Kindle
This paper describes the main elements of inflation targeting, reviews its pros and cons, and examines the experiences thus far in countries using this framework. It discusses the implications and relative merits of such a framework for South Africa, and concludes that it would be feasible and desirable for South Africa to adopt explicit inflation targeting. Doing so could reduce uncertainties about the Reserve Bank’s objectives and enhance the transparency of monetary policy. However, further experience with the operational aspects of the repurchase system and a refinement of the inflation forecasting framework may be needed before inflation targeting is implemented.
Author | : International Monetary Fund |
Publisher | : International Monetary Fund |
Total Pages | : 22 |
Release | : 1989-10-19 |
Genre | : Business & Economics |
ISBN | : 1451953658 |
Download Inflation in African Countries Book in PDF, ePub and Kindle
Since the mid-1970s the annual inflation rate in Africa has averaged more than 15 percent, with many countries experiencing rates of 20 percent or more. Inflation rates of this magnitude have significant adverse effects on the financial sectors of African countries, particularly in the context of fixed nominal interest rates. Econometric analysis points strongly to monetary expansion as a major cause of inflation in African countries generally. Exchange rate depreciation is also associated with higher inflation, although in some countries the domestic currency was depreciated to offset the effects of recent inflation, rather than being a cause of inflation.
Author | : Monaheng Seleteng |
Publisher | : |
Total Pages | : 166 |
Release | : 2012 |
Genre | : |
ISBN | : |
Download Inflation and Economic Growth Nexus in the Southern African Development Community Book in PDF, ePub and Kindle
Author | : Robert Pollin |
Publisher | : Edward Elgar Publishing |
Total Pages | : 248 |
Release | : 2007-02-23 |
Genre | : Business & Economics |
ISBN | : 9781782543855 |
Download An Employment-targeted Economic Program for South Africa Book in PDF, ePub and Kindle
'Investment in South Africa is low, real interest rates are high, the employment-intensity of growth has been relatively slow. The "employment-targeted program" advocated in this book seeks to reverse these tendencies by lowering average interest rates and channeling subsidized credit to labor-intensive, pro-poor activities, particularly small-scale agriculture and small and medium-sized enterprises. This is a bold program and by challenging conventional "inflation-targeted" economic policy, the book makes a major contribution to the debate on economic policy in South Africa.' - Keith B. Griffin, University of California-Riverside, US The people of South Africa, and the African National Congress-led government, have made extraordinary social and economic advances since ending apartheid and beginning the transition to democracy in 1994. But the country still faces severe problems of mass unemployment, underemployment and poverty. This study, sponsored by the United Nations Development Program, presents a detailed economic program designed to produce major reductions in unemployment and poverty, and a general spreading of economic well-being, and to achieve these ends in a manner that is sustainable over a longer-term framework.
Author | : Karl Wohlmuth |
Publisher | : LIT Verlag Münster |
Total Pages | : 407 |
Release | : 2014 |
Genre | : Business & Economics |
ISBN | : 364390522X |
Download Macroeconomic Policy Formation in Africa - Country Cases Book in PDF, ePub and Kindle
This Volume 17 of the African Development Perspectives Yearbook considers the following major issues: the macroeconomic policies in post-conflict countries (especially reviews of growth, social progress, and public finance strategies in medium-term frameworks) with Sudan and South Sudan as the country cases; and macroeconomic policy formation in West Africa -- with case studies presented on Senegal and Nigeria in the West African Monetary Zone and the CFA Zone. In addition, the book presents book reviews and book notes. (Series: African Development Perspectives Yearbook - Vol. 17) [Subject: African Studies, Economics]
Author | : Eliphas Ndou |
Publisher | : Springer |
Total Pages | : 507 |
Release | : 2019-08-13 |
Genre | : Business & Economics |
ISBN | : 3030198030 |
Download Inequality, Output-Inflation Trade-Off and Economic Policy Uncertainty Book in PDF, ePub and Kindle
This book focuses on income inequality, output-inflation trade-off and economic policy uncertainty in South Africa. Tight monetary and macroprudential policies raise income inequality. Income inequality transmits monetary policy and macroprudential policy shocks to real economic activity. Economic policy uncertainty influences the dynamics in the lending rate margins, inflation expectations, credit, pass-through of the repo rate to bank lending rates and companies’ cash holdings. The trade-off between output and inflation and output growth persistence vary with inflation regimes. Stimulatory demand policy shocks are less effective in high inflation regime. High income inequality raises consumption inequality, which raises demand for credit, but price stability matters in this link. Increased bank concentration raises income inequality, lowers economic growth and employment rate. Elevated economic policy uncertainty lowers output growth, lowers capital formation, reduces credit and raises companies’ cash holdings. Increased companies’ cash holdings reduce capital formation and impact the transmission of expansionary monetary policy shocks to real economic activity. This book shows there is an inflation level within the target band below it which lowers income inequality, while raising GDP growth and employment. Thus price stability, economic policy uncertainty and income inequality matter for the efficient transmission of policy shocks.