International Transmission of US Shocks into South Africa

Mthuli Ncube () and Eliphas Ndou

Chapter 9 in Monetary Policy and the Economy in South Africa, 2013, pp 159-176 from Palgrave Macmillan

Abstract: Abstract The South African recession in 2009 followed negative global developments, possibly reflecting a delayed transmission of the effects of the 2007 financial crisis in the US. Macroeconomic shocks from large or regional economic blocks can spread to other economies due to synchronized business cycles, financial market interdependence, and good openness in markets. This chapter investigates the extent to which macroeconomic fluctuations in South Africa are caused by US macroeconomic shocks. Does a US monetary expansion induce recessions or booms in South African output? Are the effects of US macroeconomic shocks on the South African economy similar to those of the US on itself?

Keywords: Interest Rate; Monetary Policy; Monetary Policy Shock; Monetary Expansion; Dollar Exchange Rate (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-33415-2_9

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DOI: 10.1057/9781137334152_9

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