Current account dynamics and macroeconomic policy

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dc.contributor.advisorDunne, J Paulen_ZA
dc.contributor.advisorPeters, Amos Cen_ZA
dc.contributor.authorMakanza, Christine Selinaen_ZA
dc.date.accessioned2016-07-25T11:32:28Z
dc.date.available2016-07-25T11:32:28Z
dc.date.issued2016en_ZA
dc.description.abstractThis thesis focuses on the growing current account imbalances in South Africa and how these imbalances are influenced by macroeconomic policy. These issues are dealt with in three related studies. Even though literature argues that fiscal policy may be more capable of attaining current account stability if supported by monetary policy measures, only a few studies actually address the potential of both monetary and fiscal policy to stabilise the current account (Herz and Hohberger, 2013). As a result, our first study establishes stylised facts about the interaction of fiscal policy and the external balance by analysing the fiscal determinants of the current account. The second study establishes stylised facts about the interaction of monetary policy and the external balance by analysing global and domestic monetary determinants of the current account. The third study considers the structure of the economy in South Africa in terms of the share of traded goods vis-à-vis non-traded goods in production and consumption. The study calibrates a Dynamic Stochastic General Equilibrium(DSGE) model that analyses the role of non-traded goods in the determination of the current account and exchange rate. These three studies help to develop an understanding of the current account in South Africa.en_ZA
dc.identifier.apacitationMakanza, C. S. (2016). <i>Current account dynamics and macroeconomic policy</i>. (Thesis). University of Cape Town ,Faculty of Commerce ,School of Economics. Retrieved from http://hdl.handle.net/11427/20710en_ZA
dc.identifier.chicagocitationMakanza, Christine Selina. <i>"Current account dynamics and macroeconomic policy."</i> Thesis., University of Cape Town ,Faculty of Commerce ,School of Economics, 2016. http://hdl.handle.net/11427/20710en_ZA
dc.identifier.citationMakanza, C. 2016. Current account dynamics and macroeconomic policy. University of Cape Town.en_ZA
dc.identifier.ris TY - Thesis / Dissertation AU - Makanza, Christine Selina AB - This thesis focuses on the growing current account imbalances in South Africa and how these imbalances are influenced by macroeconomic policy. These issues are dealt with in three related studies. Even though literature argues that fiscal policy may be more capable of attaining current account stability if supported by monetary policy measures, only a few studies actually address the potential of both monetary and fiscal policy to stabilise the current account (Herz and Hohberger, 2013). As a result, our first study establishes stylised facts about the interaction of fiscal policy and the external balance by analysing the fiscal determinants of the current account. The second study establishes stylised facts about the interaction of monetary policy and the external balance by analysing global and domestic monetary determinants of the current account. The third study considers the structure of the economy in South Africa in terms of the share of traded goods vis-à-vis non-traded goods in production and consumption. The study calibrates a Dynamic Stochastic General Equilibrium(DSGE) model that analyses the role of non-traded goods in the determination of the current account and exchange rate. These three studies help to develop an understanding of the current account in South Africa. DA - 2016 DB - OpenUCT DP - University of Cape Town LK - https://open.uct.ac.za PB - University of Cape Town PY - 2016 T1 - Current account dynamics and macroeconomic policy TI - Current account dynamics and macroeconomic policy UR - http://hdl.handle.net/11427/20710 ER - en_ZA
dc.identifier.urihttp://hdl.handle.net/11427/20710
dc.identifier.vancouvercitationMakanza CS. Current account dynamics and macroeconomic policy. [Thesis]. University of Cape Town ,Faculty of Commerce ,School of Economics, 2016 [cited yyyy month dd]. Available from: http://hdl.handle.net/11427/20710en_ZA
dc.language.isoengen_ZA
dc.publisher.departmentSchool of Economicsen_ZA
dc.publisher.facultyFaculty of Commerceen_ZA
dc.publisher.institutionUniversity of Cape Town
dc.subject.otherEconomicsen_ZA
dc.titleCurrent account dynamics and macroeconomic policyen_ZA
dc.typeDoctoral Thesis
dc.type.qualificationlevelDoctoral
dc.type.qualificationnamePhDen_ZA
uct.type.filetypeText
uct.type.filetypeImage
uct.type.publicationResearchen_ZA
uct.type.resourceThesisen_ZA
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