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The size distribution of monetary policy effects among South African manufacturing firms: Firm-level evidence from administrative tax data

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  • Keagile Lesame

Abstract

Monetary policy is believed to have a disproportionate effect on firms, depending on their size. Financially constrained firms with limited access to capital markets are expected to be more sensitive to changes in interest rates; this is characteristic of small firms. This paper empirically tests this hypothesis for firms in the South African manufacturing sector, using the South African Revenue Service's comprehensive tax administrative data set.

Suggested Citation

  • Keagile Lesame, 2019. "The size distribution of monetary policy effects among South African manufacturing firms: Firm-level evidence from administrative tax data," WIDER Working Paper Series wp-2019-32, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:wp-2019-32
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    References listed on IDEAS

    as
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