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Capital flows, credit markets and gr...

Gumata, Nombulelo.

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Capital flows, credit markets and growth in South Africa = the role of global economic growth, policy shifts and uncertainties /

紀錄類型:	書目-電子資源 : Monograph/item
正題名/作者:	Capital flows, credit markets and growth in South Africa/ by Nombulelo Gumata, Eliphas Ndou.
其他題名:	the role of global economic growth, policy shifts and uncertainties /
作者:	Gumata, Nombulelo.
其他作者:	Ndou, Eliphas.
出版者:	Cham :Springer International Publishing : : 2019.,
面頁冊數:	xliii, 385 p. :ill., digital ;24 cm.
Contained By:	Springer eBooks
標題:	Economic development - South Africa. -
標題:	South Africa - Economic policy. -
電子資源:	https://doi.org/10.1007/978-3-030-30888-9
ISBN:	9783030308889

Capital flows, credit markets and growth in South Africa = the role of global economic growth, policy shifts and uncertainties /
Gumata, Nombulelo.

Capital flows, credit markets and growth in South Africathe role of global economic growth, policy shifts and uncertainties /[electronic resource] :by Nombulelo Gumata, Eliphas Ndou. - Cham :Springer International Publishing :2019. - xliii, 385 p. :ill., digital ;24 cm.

This book examines the dynamics in capital flows, credit markets and growth in South Africa. The authors explore the role of global economic growth, policy shifts and various economic policy uncertainties. Central banks in advanced economies are engaged in unconventional monetary policy tools such as balance sheet policies, negative interest rates and extended forward guidance to assist them to meet their price, financial and macro-economic stability objectives. This book determines whether BRICS GDP growth is a source of shocks or an amplifier of global growth shocks. The authors find that global economic growth and policy uncertainty reinforce each other via capital flows, credit conditions and business confidence on the domestic economy. Furthermore, they demonstrate that there is momentum in the changes in the spread between the repo rate and federal funds rate. In addition, global real policy rates impact domestic GDP growth and labor market conditions. The authors examine the economic costs of capital flow surges, sudden stops and elevated portfolio volatility shocks and their interaction with GDP growth and credit. They show that equity and debt inflows matter in the attainment of the price stability mandate. Moreover, business confidence transmits sovereign credit ratings upgrades and downgrades shocks to the real economy via GDP growth, the cost of government debt and borrowing to impact credit growth. High GDP growth increases the likelihood of sovereign credit ratings upgrades, hence policymakers should implement pro-growth policies. Inflation regimes impact the transmission of positive nominal demand shocks to the price level. Low and stable inflation (inflation below 4.5 per cent) reduces the pass-through of positive nominal demand shocks to inflation.

ISBN: 9783030308889

Standard No.: 10.1007/978-3-030-30888-9doiSubjects--Topical Terms:

3274798
Economic development
--South Africa.Subjects--Geographical Terms:

653022
South Africa
--Economic policy.

LC Class. No.: HC905 / .G85 2019

Dewey Class. No.: 338.968

Capital flows, credit markets and growth in South Africa = the role of global economic growth, policy shifts and uncertainties /
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