Macroeconomic risks after a decade of microeconomic turbulence: South Africa (2007-2020)

Ricardo Hausmann, Federico Sturzenegger, Patricio Goldstein, Frank Muci and Douglas Barrios

No wp-2022-3, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: This study analyses the performance of macroeconomic policy in South Africa in 2007-2020 and outlines challenges for policy in the coming decade. After remarkable economic growth in 1997-07, South Africa's progress slowed dramatically in 2009 with the global financial crisis. Real GDP growth decelerated more than in other emerging markets and mineral exporting peers and never recovered pre-crisis levels. In addition, the budget deficit that provided counter-cyclical support to the economy was never reigned in, leading to a rapidly rising public debt load.

Keywords: Macroeconomic policy; Economic growth; Emerging markets; South Africa (search for similar items in EconPapers)
Date: 2022
New Economics Papers: this item is included in nep-afr and nep-mac
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Citations: View citations in EconPapers (4)

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Related works:
Working Paper: Macroeconomic risks after a decade of microeconomic turbulence: South Africa 2007-2020 (2022)
Working Paper: Macroeconomic risks after a decade of microeconomic turbulence: South Africa 2007-2020 (2022)
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