South Africa: Selected Issues

International Monetary Fund

No 2003/018, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper estimates an equilibrium path for South Africa’s real effective exchange rate. The paper briefly describes the dynamics of the real exchange rate and its determinants. It investigates the presence of a long-term relationship between the real exchange rate and certain explanatory variables, estimates the speed at which the real exchange rate converges toward its equilibrium level, and derives measures for the equilibrium real exchange rate. The paper also examines the real money demand, consumer prices, and the real exchange rate in South Africa.

Keywords: ISCR; CR; GDP; price; debt ratio; growth rate; FDI inflow; job skill; production-function approach; inflation equation; differentials vis-à-vis trading-partner country; exchange rate pass-through calculation; Real exchange rates; Total factor productivity; Fiscal stance; Foreign direct investment; Production growth; Africa; Global (search for similar items in EconPapers)
Pages: 103
Date: 2003-01-23
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Citations: View citations in EconPapers (5)

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Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2003/018

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