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Tuesday, May 19, 2020 | History

2 edition of Financial liberalisation consumption and debt in South Africa found in the catalog.

Financial liberalisation consumption and debt in South Africa

J. Aron

Financial liberalisation consumption and debt in South Africa

by J. Aron

  • 191 Want to read
  • 36 Currently reading

Published by University of Oxford in Oxford .
Written in English


Edition Notes

StatementJ. Aron and J. Muellbauer.
SeriesCentre the Study of African Economies Working Paper -- WPS 2000-22
ContributionsMuellbauer, J., Centre for the Study of African Economies.
The Physical Object
Pagination35p.
Number of Pages35
ID Numbers
Open LibraryOL21558091M

Chapter 2: Macroeconomic challenges and adjustments 15 Embracing the knowledge economy Social renewal and African renaissance will increasingly depend on Government’s ability to enhance South Africa’s knowledge and technological base, and by extension that of the Size: KB. 1The Liquidation of Government Debt government debt for 12 countries over – before financial liberalization and capital South Africa, Sweden, the United Kingdom, and the United States offer an important insight on how debt reduction was achieved in these Size: KB.

The financial sectors of Mauritius, Seychelles and South Africa developed significantly by , with 50 % of their Gross Domestic Products (GDP) invested in highly accessible, short-term deposits and securities – a standard indicator of a country's financial health. Tanzania has also fared well. Prior to liberalisation, no foreign banks. Cited by: David Rae, "A forward-looking model of aggregate consumption in New Zealand," New Zealand Economic Papers, Taylor & Francis Journals, vol. 31(2), pages Duca, John V. & Muellbauer, John & Murphy, Anthony, "Housing markets and the financial crisis of Lessons for the future," Journal of Financial Stability, Elsevier, vol. 6(4), pages , December.

The economy of South Africa is the second largest in Africa, after Nigeria. As a regional manufacturing hub, it is the most industrialized and diversified economy on the continent. South Africa is an upper-middle-income economy – one of only eight such countries in Africa. Since , at the end of over twelve years of international sanctions, South Africa's Gross Domestic Product almost Country group: Developing/Emerging, Upper . deep financial markets have made South Africa a regional hub for financial services. Nevertheless, growth has trended down mark edly since due to constraints on the supply side, in particular electricity shortages and falling commodity prices, and policy uncertainty. Unemployment rose from 25% to 27%. The youth are particularly hard hit byFile Size: KB.


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Financial liberalisation consumption and debt in South Africa by J. Aron Download PDF EPUB FB2

Our methodological innovation is to treat financial liberalization as an unobservable, proxied by a spline function, and entering both consumption and debt equations, which are jointly estimated.

We also clarify the multi-faceted effects of financial liberalization on consumption. Abstract: South Africa experienced substantial rises in the ratios of consumption and household debt to income fromfor which conventional explanations in terms of income, income.

that South Africa’s extensive financial liberalization is an essential part of the explanation, and is particularly interesting for two reasons.

First, low saving rates, especially in the personal and government sectors, are the symptom of a persistent structural weakness in South Africa. sidered to be the centrepiece of financial liberalisation. Unfortunately, South Africa's experience with interest rate liberalisation has been at best indeterminate.

In the wake of financial liberalisation, the gross domestic savings as a percentage of GDP for example, decreased from about % in to % in before declining fur.

Financial liberalisation, consumption and debt in South Africa. Ref: WPS/ Author(s): Janine Aron, John Muellbauer. Financial liberalisation and changes in the technology of payments and settlements have led to large volatilities in money demand worldwide.

The South African economy has also undergone a number of important structural changes during the past two decades, including the relaxation of exchange controls, financial innovations and the integration of the South African financial market into the global financial. Overview of Financial Liberalisation in South Africa Since the s, there has been an ongoing liberalization of the financial system in South Africa.

Interest and credit controls were removed inwhile liquidity ratios of banks were reduced substantially between and Credit ceilings were abolished in Treasury of South Africa. The views expressed are those of the author(s) and do not necessarily represent those of the funder, ERSA or the author’s affiliated institution(s).

ERSA shall not be liable to any person for inaccurate information or opinions contained herein. Financial Liberalisation and Economic Growth in the SADCFile Size: KB.

financial liberalisation on financial deepening and economic growth in four SADC countries, namely South Africa, Tanzania, Zambia, and Lesotho. Specifically, the study attempts to answer two critical questions in a step-File Size: KB. Chapter 4: South Africa and financial liberalisation 99 Historical overview of South Africa’s economic instability 99 Liberalisation in South Africa after the De Kock Inquiry 99 Socio-political effects on the South African economy South Africa’s reintegration into.

Financial Market Liberalisation, Wealth and Consumption The past two decades have seen substantial deregulation in the financial sectors of most OECD countries. The main motivation was to improve efficiency within the financial system, but the macroeconomic implications might go beyond this objective with impacts on the business cycle and the Cited by: South African household savings and the influence of financial liberalisation.

Research Problem. The South African government’s “Growth Employment and Redistribution Strategy” (GEAR) was announced in and indicated that an average growth rate of more than 4% per.

FINANCIAL LIBERALISATION AND ECONOMIC GROWTH IN ECOWAS COUNTRIES. ERASMUS LARBI OWUSU. Submitted in accordance with the requirements for the degree of. DOCTOR OF LITERATURE AND PHILOSOPHY. in the subject of.

ECONOMICS. at the. UNIVERSITY OF SOUTH AFRICA. PROMOTER: PROF. N M ODHIAMBO. May File Size: 1MB. 4 Today, almost a decade after their initiation, financial reforms appear to have affected the economies in Sub-Sahara Africa very little.

3 Whether the blame is to fall on their initial design itself, or on the difficulties and partial nature of their implementation, liberalization policies have seemed. Results for elderly dependency and financial deepening had weak explanatory power on household savings.

Financial deepening was found to significantly increase household debt levels whilst the results concerning financial liberalisation were inconclusive for both the household debt and household savings by: 1.

financial sector reforms. Nevertheless, the Asian experience offers some important lessons for Africa. Comparison of the experiences of the two continents suggests that if financial reforms are to succeed, they must be imple-mented in an appropriate macroeconomic, financial, and institutional environment.

Benefits of liberalizationCited by: This paper provides empirical evidence to investigate the direct impact of financial liberalization on the likelihood of currency/systemic banking crises, and examines the roles of insurance market, country risk, and economic conditional variables on the relationship between financial liberalization and financial crises in 39 by: 2.

Overview of government debt in South Africa In entering a new democratic era inwith the end of the former Apartheid regime, the ANC was faced with a large public debt mainly attributed to extensive borrowing and a foreign debt standstill imposed against South Africa in the ’s. In response, the South.

SOUTH AFRICA TRADE LIBERALIZATION AND POVERTY IN A DYNAMIC MICROSIMULATION CGE MODEL1. Ramos Mabugu Financial and Fiscal Commission, South Africa and Margaret Chitiga University of Pretoria, South Africa ABSTRACT South Africa has undergone significant trade liberalization since the end of Size: KB.

Introduction. In the past three decades nearly all countries in Sub-Saharan Africa have implemented liberalization of the financial sector. During this period most countries eased or lifted bank interest rates caps, reduced interference in credit allocation decisions, lowered compulsory reserve requirements and entry barriers, and privatised many state owned commercial by:.

This study examines the impact of financial liberalization on economic growth, given the discrepancy and the gap in the literature, using a sample of 30 sub-Saharan African (SSA) countries.This paper analyzes the linkages between capital account liberalization and other policies influencing financial sector stability.

Drawing on country experiences, the paper develops an operational framework for sequencing and coordinating capital account liberalization with other policies aimed at maintaining financial sector stability.

Based on the general principles, a methodology for.The title of this paper is "The relationship between saving and growth in South Africa: An empirical study". Indeed, the empirical evidence to date has shown that there is a relationship between saving rates and growth. During31 countries had average annual per capita GDP growth rates of % or higher.

In these successful.