Business Cycle Recoveries: AComparative View

Willem Boshoff and L. H. Becker ()
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L. H. Becker: Prescient Investment Management

A chapter in Business Cycles and Structural Change in South Africa, 2020, pp 73-96 from Springer

Abstract: Abstract A key challenge in the analysis of South African business cycles lies with understanding how South African business cycles differ from the business cycles of other countries, whether advanced or emerging. South African cycles, quite different from especially US cycles, do not exhibit a distinct high-growth phase during recovery, which is defined as the first stage of an expansion. Using alternative recovery identification methods, we find that South African cycles share this property with cycles in developed, as well as emerging economies, but are different from cycles in other commodity exporters. The absence of a distinct recovery phase carries over to disaggregated components of expenditure, including consumption and investment. Especially investment only accelerates later in South African expansions.

Keywords: Business cycle; Recovery; Revival; Turning point; Financial crisis; South Africa; Emerging markets; E32 (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:spr:aaechp:978-3-030-35754-2_4

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DOI: 10.1007/978-3-030-35754-2_4

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