- Title
- South Africa’s trade in cultural goods and services with a focus on cultural trade with BRICS partners
- Creator
- Cattaneo, Nicolette S, Snowball, Jeanette D
- Subject
- To be catalogued
- Date
- 2020
- Type
- text
- Type
- book chapter
- Identifier
- http://hdl.handle.net/10962/470339
- Identifier
- vital:77350
- Identifier
- ISBN
- Identifier
- https://doi.org/10.1080/10220461.2015.1069208
- Description
- This article examines the potential role the BRICS Contingent Reserve Arrangement (CRA) could play in stabilising countries experiencing a high degree of economic volatility. The CRA is a US$100 billion pooled reserve fund that has its origins in the fifth BRICS Summit hosted in Durban. The CRA was set up to help emerging nations deal with liquidity shortages and to strengthen financial systems during crisis. The article examines the debate on the effect of capital market liberalisation and collates some relevant macroeconomic data on the BRICS economies in order to explore the case for a contingent reserve facility. It is found that emerging economies that rapidly liberalised their capital accounts experienced increased economic volatility, creating an uncertain macroeconomic environment and hampering the ability of policymakers to conduct appropriate stabilisation policy. The article takes the position that the CRA could play an important role in providing liquidity to distressed emerging economies. However it concludes that the CRA facility does not signal a significant break from the Bretton Woods institutions on the part of the BRICS countries.
- Format
- 17 pages, pdf
- Publisher
- Routledge
- Language
- English
- Relation
- Cattaneo, N. and Snowball, J., 2020. South Africa’s trade in cultural goods and services with a focus on cultural trade with BRICS partners. In Trade and Culture (pp. 36-55). Routledge
- Rights
- Publisher
- Rights
- Use of this resource is governed by the terms and conditions of the Taylor and Francis Online Terms and Conditions Statement (https://www.tandfonline.com/terms-and-conditions)
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Collections
Cattaneo, Nicolette Sylvie (Ms)
Snowball, Jeanette Dalziel (Prof)
SDG 08. Decent Work and Economic Growth
RU Department of Economics and Economic History
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| View Details | SOURCE1 | South Africa's trade in cultural goods and services with a focus on cultural trade with BRICS partners.pdf | 587 KB | Adobe Acrobat PDF | View Details |