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International Transmission of US Shocks into South Africa

In: Monetary Policy and the Economy in South Africa

Author

Listed:
  • Mthuli Ncube

    (African Development Bank Group)

  • Eliphas Ndou

    (Reserve Bank of South Africa)

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?

Suggested Citation

  • Mthuli Ncube & Eliphas Ndou, 2013. "International Transmission of US Shocks into South Africa," Palgrave Macmillan Books, in: Monetary Policy and the Economy in South Africa, chapter 9, pages 159-176, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-137-33415-2_9
    DOI: 10.1057/9781137334152_9
    as

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