کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
5106285 | 1645157 | 2017 | 21 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
The role of financial conditions in transmitting external shocks to South Africa
ترجمه فارسی عنوان
نقش شرایط مالی در انتقال شوک های خارجی به آفریقای جنوبی
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موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد، اقتصادسنجی و مالیه (عمومی)
چکیده انگلیسی
This paper analyses the spillover effects of external financial conditions to South Africa using quarterly domestic and international data from 1996Q1 to 2014Q4. First, principal component analysis and vector autoregressive model are utilized to build financial conditions indices for South Africa and its main trading partners, namely, China, Germany, the United States, Japan, the United King, Netherlands, Italy, France and Belgium. Consistently across both methodologies, the financial conditions indices obtained track each other fairly well and capture the 2008/09 global financial crisis. Second, a Global Vector Autoregressive model comprised of financial indices and other macroeconomic variables is implemented to assess how international financial shocks spillover into South Africa. Our findings show that a sudden tightening of the US financial conditions has a significant but short lived effect on the South Africa's real GDP growth while the spillover effects from other trading partners appear to be of negligible impact throughout the sample period.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: International Economics - Volume 150, August 2017, Pages 36-56
Journal: International Economics - Volume 150, August 2017, Pages 36-56
نویسندگان
Thanda Sithole, Beatrice D. Simo-Kengne, Modeste Some,