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Imported Inflation in South Africa: An Empirical Study

  • Kevin Nell

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The main objective of this paper is to analyse the inflationary impact of exchange rate depreciation in South Africa over the period 1984-1998 when the monetary authorities adopted a more market-oriented exchange rate system. Although the empirical part of the paper extensively focuses on this period, the analysis also concentrates on the period 1973-1983 to determine whether the underlying causes of inflation have changed following significant structural, political and institutional changes. From a macroeconomic perspective, the empirical results show that the long-run causes of inflation in South Africa have changed from a demand-pull inflation over the period 1973-1983, to a cost-push cause (import prices and wage rate changes) of inflation since 1987 when a market determined exchange rate finally stabilised.

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File URL: ftp://ftp.ukc.ac.uk/pub/ejr/RePEc/ukc/ukcedp/0005.pdf
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Paper provided by School of Economics, University of Kent in its series Studies in Economics with number 0005.

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Date of creation: May 2000
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Handle: RePEc:ukc:ukcedp:0005
Contact details of provider: Postal: School of Economics, University of Kent, Canterbury, Kent, CT2 7NP
Phone: +44 (0)1227 827497
Web page: http://www.kent.ac.uk/economics/

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