International Lessons for the Property Price Boom in South Africa

Helmut Wagner, Friedrich Kißmer and Norbert Funke

No 27, Proceedings of the German Development Economics Conference, Berlin 2006 from Verein für Socialpolitik, Research Committee Development Economics

Abstract: South Africa appears to share some of the characteristics (property price boom, easing of monetary policy, strong domestic demand growth) of asset price booms in industrial countries that were often followed by a period of weak growth. The international experience suggests that a number of practical obstacles need to be overcome before a more proactive role of monetary policy is warranted. However, a larger variety of available mortgage contracts, including longer-term fixed-rate contracts, should allow for a more efficient allocation of interest rate risks. Also, a more systematic nationwide collection of property price data, including data on commercial property price developments, would provide a more representative basis for analysis.

Keywords: Asset Prices; property prices; monetary policy; economic development (search for similar items in EconPapers)
JEL-codes: E44 E52 E58 (search for similar items in EconPapers)
Date: 2006
New Economics Papers: this item is included in nep-afr, nep-cba, nep-fmk, nep-mac and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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