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Exchange Rates In South Africa
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Book Synopsis Exchange Rate and Foreign Interest Rate Linkages for Sub-Saharan Africa Floaters by : Mr.Alun H. Thomas
Download or read book Exchange Rate and Foreign Interest Rate Linkages for Sub-Saharan Africa Floaters written by Mr.Alun H. Thomas and published by International Monetary Fund. This book was released on 2012-08-01 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: The paper considers the determinants of exchange rate movements among sub-Saharan countries that have flexible exchange rate regimes. The determinants are based on the law of one price and interest parity conditions. Results indicate that the exchange rates have responded significantly to changes in the US Treasury bill rate and to the EMBI spread in recent years. The effects are more important for countries with open capital accounts. On the other hand the paper does not provide any support for the interest rate parity theory because domestic interest rates have no bearing on exchange rate movements.
Book Synopsis Exchange Rate Volatility and Pass-Through to Inflation in South Africa by : Mr.Ken Miyajima
Download or read book Exchange Rate Volatility and Pass-Through to Inflation in South Africa written by Mr.Ken Miyajima and published by International Monetary Fund. This book was released on 2019-12-13 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: Does the South African rand’s relatively large volatility affect inflation? To shed some light on this question, a standard estimation technique of exchange rate pass-through to inflation is extended to incorporate exchange rate volatility. Estimated results suggest that higher exchange rate volatility tends to increase core inflation but to a relatively limited extent in South Africa. The finding lends support to the policy of allowing the rand to float freely and work as a shock absorber, consistent with the nation’s successful inflation targeting regime.
Book Synopsis Exchange Rate Regimes in Central, Eastern and Southeastern Europe by : Mr.Slavi T Slavov
Download or read book Exchange Rate Regimes in Central, Eastern and Southeastern Europe written by Mr.Slavi T Slavov and published by International Monetary Fund. This book was released on 2017-03-31 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: There are 13 countries in Central, Eastern and Southeastern Europe (CESEE) with floating exchange rate regimes, de jure. This paper uses the framework pioneered by Frankel and Wei (1994) and extended in Frankel and Wei (2008) to show that most of them have been tracking either the euro or the US dollar in recent years. Eight countries, all of them current or aspiring EU members, track the euro. Of the five countries keying on the US dollar in various degrees, all but one belong to the Commonwealth of Independent States. The paper shows that the extent to which each country’s currency tracks the euro (or the dollar) is correlated with the structure of its external trade and finance. However, some countries appear to track the EUR or USD to an extent which appears inconsistent with inflation targeting, trade or financial integration, or the extent of business cycle synchronization. The phenomenon is particularly pronounced among the countries in the CESEE euro bloc, which may be deliberately gravitating around the euro in anticipation of eventually joining the Euro Area.
Book Synopsis Estimating Equilibrium Exchange Rates by : John Williamson
Download or read book Estimating Equilibrium Exchange Rates written by John Williamson and published by Peterson Institute. This book was released on 1994 with total page 608 pages. Available in PDF, EPUB and Kindle. Book excerpt: The problems of exchange rate misalignments and the resulting payments imbalances have plagued the world economy for decades. At the Louvre Accord of 1987, the Group of Five industrial countries adopted a system of reference ranges for exchange rate management, influenced by proposals of C. Fred Bergstan and John Williamson for a target zone system. The reference range approach has, however, been operated only intermittently and half-heartedly, and questions continue to be raised in policy and scholarly circles about the design and operation of a full-fledged target zone regime. This volume, with chapters by leading international economists, explores one crucial issue in the design of a target zone system: the problem of calculating Williamson's concept of the fundamental equilibrium exchange rate (FEER). Williamson contributes an overview of the policy and analytic issues and a second chapter on his own calculations.
Book Synopsis The Taxation Implicit in Two-Tiered Exchange Rate Systems by : Harry Huizinga
Download or read book The Taxation Implicit in Two-Tiered Exchange Rate Systems written by Harry Huizinga and published by International Monetary Fund. This book was released on 1996-11-01 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: A two-tiered exchange rate system can be interpreted as a set of separate taxes on money and other financial assets. If the official two-tiered exchange rate system coexists with a black market for foreign exchange, then there is implicit taxation of the international goods trade as well. This paper presents some evidence on the tax rates and tax revenues implicit in the exchange rate systems of The Bahamas (from 1978 to 1995), the Dominican Republic (from 1970 to 1984), and South Africa (from 1973 to 1995).
Download or read book Economics written by Pieter Cornelis Smit and published by Juta and Company Ltd. This book was released on 1996 with total page 758 pages. Available in PDF, EPUB and Kindle. Book excerpt: This text provides an introduction to the central tenets of economic theory. Each section of the book takes the reader from the elementary to the more advanced theories and applications, and is written from a Southern African perspective.
Book Synopsis Development Centre Studies Reducing Capital Cost in Southern Africa by : Pinaud Nicolas
Download or read book Development Centre Studies Reducing Capital Cost in Southern Africa written by Pinaud Nicolas and published by OECD Publishing. This book was released on 2005-12-02 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Southern Africa suffers from disproportionately expensive capital which denies the region its full growth potential. This book presents ideas and proposals for reducing the cost of capital in the region.
Book Synopsis EBOOK: Economics, South African Edition by : J. van Rensburg
Download or read book EBOOK: Economics, South African Edition written by J. van Rensburg and published by McGraw Hill. This book was released on 2015-03-16 with total page 647 pages. Available in PDF, EPUB and Kindle. Book excerpt: EBOOK: Economics, South African Edition
Book Synopsis Handbook of Exchange Rates by : Jessica James
Download or read book Handbook of Exchange Rates written by Jessica James and published by John Wiley & Sons. This book was released on 2012-05-29 with total page 674 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for Handbook of Exchange Rates “This book is remarkable. I expect it to become the anchor reference for people working in the foreign exchange field.” —Richard K. Lyons, Dean and Professor of Finance, Haas School of Business, University of California Berkeley “It is quite easily the most wide ranging treaty of expertise on the forex market I have ever come across. I will be keeping a copy close to my fingertips.” —Jim O’Neill, Chairman, Goldman Sachs Asset Management How should we evaluate the forecasting power of models? What are appropriate loss functions for major market participants? Is the exchange rate the only means of adjustment? Handbook of Exchange Rates answers these questions and many more, equipping readers with the relevant concepts and policies for working in today’s international economic climate. Featuring contributions written by leading specialists from the global financial arena, this handbook provides a collection of original ideas on foreign exchange (FX) rates in four succinct sections: • Overview introduces the history of the FX market and exchange rate regimes, discussing key instruments in the trading environment as well as macro and micro approaches to FX determination. • Exchange Rate Models and Methods focuses on forecasting exchange rates, featuring methodological contributions on the statistical methods for evaluating forecast performance, parity relationships, fair value models, and flow–based models. • FX Markets and Products outlines active currency management, currency hedging, hedge accounting; high frequency and algorithmic trading in FX; and FX strategy-based products. • FX Markets and Policy explores the current policies in place in global markets and presents a framework for analyzing financial crises. Throughout the book, topics are explored in-depth alongside their founding principles. Each chapter uses real-world examples from the financial industry and concludes with a summary that outlines key points and concepts. Handbook of Exchange Rates is an essential reference for fund managers and investors as well as practitioners and researchers working in finance, banking, business, and econometrics. The book also serves as a valuable supplement for courses on economics, business, and international finance at the upper-undergraduate and graduate levels.
Book Synopsis Chromium Availability in Market Economy Countries and Network Flow Model Analysis of World Chromium Supply by : Edward H. Boyle
Download or read book Chromium Availability in Market Economy Countries and Network Flow Model Analysis of World Chromium Supply written by Edward H. Boyle and published by . This book was released on 1993 with total page 144 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis EBOOK: Economics: A Southern African Context, 3e by : J. van Rensburg
Download or read book EBOOK: Economics: A Southern African Context, 3e written by J. van Rensburg and published by McGraw Hill. This book was released on 2021-04-22 with total page 547 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economics studies how people, businesses and governments use resources. What shapes our decisions? How do we allocate goods and services? What does a rational choice look like? In this third edition of Economics: A Southern African Context, the authors expertly guide us through the key principles of economics, providing a solid foundation in the subject. The text combines relevant Southern African examples with a clear and accessible narrative. By encouraging critical engagement with economic theories, it provides a basis for examining today’s economic, social, and political issues. Key Features: •A new structure to refocus the book and align with teaching •Additional online chapters, including the Economics of Pandemics, available in Connect® •Fully updated pedagogy, including Interactive Graphs, Last Word, and Quick Quiz boxes •Discussions on new developments in economics, such as the consequences of COVID-19 and the impact of BRICS membership on trade in South Africa •Revised end-of-chapter content to test comprehension, including Review Questions, Discussion Questions and Problems, available in Connect® Economics: A Southern African Context is available with McGraw Hill’s Connect®, the online learning platform which features resources to help faculty and institutions improve student outcomes and course delivery efficiency. Jan J. Janse van Rensburg is a lecturer at the University of Pretoria. His main area of interest is in teaching and course development with a focus on Principles of Economics. He also specializes in Health Economics, concentrating on the economic effects and costs of substance abuse. Campbell R. McConnell was a professor at the University of Nebraska-Lincoln, where he taught from 1953 until his retirement in 1990. Stanley L. Brue is a professor at Pacific Lutheran University, where he has been honoured as a recipient of the Burlington Northern Faculty Achievement Award. Sean M. Flynn is an associate professor of economics at Scripps College in Claremont, California.
Book Synopsis Effect of Exchange Rate Movements on Inflation in Sub-Saharan Africa by : Laurent Kemoe
Download or read book Effect of Exchange Rate Movements on Inflation in Sub-Saharan Africa written by Laurent Kemoe and published by International Monetary Fund. This book was released on 2024-03-15 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides new evidence on the exchange rate passthrough to domestic inflation in Sub-Saharan Africa (SSA) using both bilateral US dollar exchange rate and the nominal effective exchange rate (NEER), and monthly data. We find that depreciations cause sizable increases in domestic inflation. The passthrough in SSA is higher than in other regions and its magnitude depends on the exchange rate regime, type of exchange rate (bilateral versus NEER), natural resource endowment and domestic market competitiveness. The passthrough is found to be disproportionately larger and more persistent for large depreciation shocks, and for exchange rate changes that are more persistent. We also find evidence of asymmetry, with passthrough eight times stronger during depreciations than appreciations. Additional findings suggest that improved monetary policy effectiveness is an important driver of our observed declining estimates of exchange rate passthrough over time, supporting the long-standing view that strengthening monetary policy frameworks and credibility helps mitigate the impact of depreciations on inflation.
Book Synopsis Commodity Prices and Exchange Rate Volatility by : Mr.Rabah Arezki
Download or read book Commodity Prices and Exchange Rate Volatility written by Mr.Rabah Arezki and published by International Monetary Fund. This book was released on 2012-06-01 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: We examine the relationship between South African Rand and gold price volatility using monthly data for the period 1980-2010. Our main findings is that prior to capital account liberalization the causality runs from South African Rand to gold price volatility but the causality runs the other way around for the post-liberalization period. These findings suggest that gold price volatility plays a key role in explaining both the excessive exchange rate volatility and current disproportionate share of speculative (short-run) inflows that South Africa has been coping with since the opening up of its capital account.
Download or read book Macro-Economics written by J. W. Mostert and published by Juta and Company Ltd. This book was released on 2002-10 with total page 356 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive introduction to macro-economics, set against a contemporary South African background.It covers all the material usually prescribed for introductory courses in macro-economics and also lays a solid foundation for intermediate and advanced studies in macro-economics.
Author :Hong Kong Economic Association Publisher :Springer Science & Business Media ISBN 13 :9781402072871 Total Pages :276 pages Book Rating :4.0/5 (728 download)
Book Synopsis Exchange Rate Regimes and Macroeconomic Stability by : Hong Kong Economic Association
Download or read book Exchange Rate Regimes and Macroeconomic Stability written by Hong Kong Economic Association and published by Springer Science & Business Media. This book was released on 2003 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Asian crisis of 1997-1998 was a major influence on macroeconomic thinking concerning exchange rate regimes, the functioning of international institutions, such as the IMF and the World Bank, and international contagion of macroeconomic instability from one country to another. Exchange Rate Regimes and Macroeconomic Stability offers perspectives on these issues from the viewpoints of two Nobel Laureates, an IMF economist, and Asian economists. This book contributes new ideas to the ongoing debate on the role of domestic monetary authorities and international institutions in reducing the likelihood of international financial crises, as well as the problems associated with various exchange rate regimes from the standpoint of macroeconomic stability. Overall, the chapters contained in this volume offer interesting perspectives, which have been stimulated by the recent events in the foreign exchange market. They provide a useful reference for anyone interested in the development of exchange rate regimes, and represent considerable reflection by economists half a century after Bretton Woods.
Book Synopsis Parallel Exchange Rates in Developing Countries by : Miguel A. Kiguel
Download or read book Parallel Exchange Rates in Developing Countries written by Miguel A. Kiguel and published by Springer. This book was released on 2016-07-27 with total page 411 pages. Available in PDF, EPUB and Kindle. Book excerpt: '...the most definitive study of the subject, assembling an all-star cast to address the many outstanding questions and succeeding beyond expectations in combining elegant theory and state of the art econometrics to reach very sensible policy conclusions.' - Mohsin S. Khan, Deputy Director, Research Department, International Monetary Fund ' This book fills an important vacuum in the literature of the economic consequences of parallel markets and should prove of great value to students of economic development and to policy-makers in developing countries as they struggle to reform their exchange rate and trade incentive systems. Here they will find all that they need to know.' - Vittorio Corbo, Professor of Economics, Universidad Catolica de Chile 'A most comprehensive treatment of the relationships between parallel foreign exchange markets and macroeconomic policies, both across countries and over time. The book substantially enhances our understanding of how these systems work in practice and will be of great interest to policy-makers, researchers and graduate students of economic policy.' - Samuel M. Wangwe, Professor of Economics, University of Dar es Salaam and Executive Director, Economic and Social Research Foundation, Dar es Salaam, Tanzania This book examines extensive empirical evidence on the macroeconomic implications of parallel exchange rates in developing countries. Eight case-studies from Africa, Latin America, and Turkey provide detailed evidence on the emergence of parallel exchange rates, their impact on macroeconomic performance, and the criteria for successful exchange-rate unification. A chapter on European dual exchange rates summarizes the contrasting experience of industrial countries. An overview chapter lays out the analytical framework, assesses the evidence, and draws policy conclusions.
Book Synopsis Implicatoins of the Currency Crisis for Exchange Rate Arrangements in Emerging East Asia by :
Download or read book Implicatoins of the Currency Crisis for Exchange Rate Arrangements in Emerging East Asia written by and published by World Bank Publications. This book was released on with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt:
