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Push–Pull Effects on South Africa's Capital Inflows

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  • Sean J. Gossel
  • Nicholas Biekpe

Abstract

This paper uses a vector error correction model to examine the effects of foreign (push) and domestic (pull) factors on South Africa's capital inflows over the period of 1986–2013. The results show that foreign direct investment is pushed in the short‐run but pulled in the long‐run; portfolio inflows are pushed in both the short‐run and the long‐run, while in contrast, the other inflows are pulled in the short‐run and the long‐run. The results further show that South Africa's capital inflows are particularly vulnerable to foreign business cycle shocks in the short‐run but to domestic output and investment shocks in the long‐run. Copyright © 2015 John Wiley & Sons, Ltd.

Suggested Citation

  • Sean J. Gossel & Nicholas Biekpe, 2017. "Push–Pull Effects on South Africa's Capital Inflows," Journal of International Development, John Wiley & Sons, Ltd., vol. 29(6), pages 751-767, August.
    • Handle: RePEc:wly:jintdv:v:29:y:2017:i:6:p:751-767
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