Inward and Outward Spillovers in the SACU Area
Spillovers from South Africa into the other members of the Souther Africa Customs Union (known as the BLNS for Botstwana, Lesotho, Namibia, and Swaziland) are substantial reflecting sizeable real and financial interlinkages. However, shocks to real GDP growth in South Africa do not seem to systematically affect growth developments in BLNS countries as a group. Nevertheless, vector autoregressions, which allow country-specific parameters, suggest some strong spillovers onto the smaller economies.
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- Era Dabla-Norris & Raphael A Espinoza & Sarwat Jahan, 2012.
"Spillovers to Low-Income Countries; Importance of Systemic Emerging Markets,"
IMF Working Papers
- Era Dabla-Norris & Raphael Espinoza & Sarwat Jahan, 2012. "Spillovers to Low-Income Countries: Importance of systemic emerging markets," OxCarre Working Papers 082, Oxford Centre for the Analysis of Resource Rich Economies, University of Oxford.
- Manuel Arellano & Stephen Bond, 1991.
"Some Tests of Specification for Panel Data: Monte Carlo Evidence and an Application to Employment Equations,"
Review of Economic Studies,
Oxford University Press, vol. 58(2), pages 277-297.
- Tom Doan, "undated". "RATS program to replicate Arellano-Bond 1991 dynamic panel," Statistical Software Components RTZ00169, Boston College Department of Economics.
- International Monetary Fund, 2009. "Spillovers From the Rest of the World Into Sub-Saharan African Countries," IMF Working Papers 09/155, .
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