Financial integration in the BRICS countries
- Authors: Nach, Marida Nephertiti
- Date: 2020
- Subjects: Autogression (Statistics) -- mathematical models , Monetary policy -- Econometric models
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/50609 , vital:42278
- Description: An optimum currency area (OCA) owes its definition to Robert Mundell (1961). In his seminal paper, Mundell (1961) defines an OCA as an area for which the costs of relinquishing the exchange rate as an internal instrument of adjustments are outweighed by the benefits of adopting a single currency or a fixed exchange rate regime. Mundell (1961) emphasises two major benefits of adopting a single currency: the elimination of transaction costs and a better performance of money as a medium of exchange and as a unit of account. Thus far, OCA theory has served as the framework for the discussion about monetary integration and has provided an explanation for the monetary integration processes around the world both developed and developing countries in Europe, Asia, Africa, and Latin America. The emergence of the BRICS (Brazil, Russia, India, China, South Africa) countries can be a model and a representation of developing and emerging countries in the global economic and financial system. Hence, this has made the BRICS economies the object of many discussions and recent empirical researches. The research presented in this thesis uses a structural vector autoregression (SVAR) econometric model to explore whether there is a feasibility of macroeconomic convergence among the BRICS economies. The SVAR model permitted to examine the symmetry of shocks (supply, demand and monetary) among the five BRICS countries. The findings of this research showed that there was some degree of symmetry of shocks among the BRICS countries. Nevertheless, there is a need for more policy coordination in order to achieve the desired level of symmetry of shocks among these countries.
- Full Text:
- Date Issued: 2020
- Authors: Nach, Marida Nephertiti
- Date: 2020
- Subjects: Autogression (Statistics) -- mathematical models , Monetary policy -- Econometric models
- Language: English
- Type: Thesis , Doctoral , PhD
- Identifier: http://hdl.handle.net/10948/50609 , vital:42278
- Description: An optimum currency area (OCA) owes its definition to Robert Mundell (1961). In his seminal paper, Mundell (1961) defines an OCA as an area for which the costs of relinquishing the exchange rate as an internal instrument of adjustments are outweighed by the benefits of adopting a single currency or a fixed exchange rate regime. Mundell (1961) emphasises two major benefits of adopting a single currency: the elimination of transaction costs and a better performance of money as a medium of exchange and as a unit of account. Thus far, OCA theory has served as the framework for the discussion about monetary integration and has provided an explanation for the monetary integration processes around the world both developed and developing countries in Europe, Asia, Africa, and Latin America. The emergence of the BRICS (Brazil, Russia, India, China, South Africa) countries can be a model and a representation of developing and emerging countries in the global economic and financial system. Hence, this has made the BRICS economies the object of many discussions and recent empirical researches. The research presented in this thesis uses a structural vector autoregression (SVAR) econometric model to explore whether there is a feasibility of macroeconomic convergence among the BRICS economies. The SVAR model permitted to examine the symmetry of shocks (supply, demand and monetary) among the five BRICS countries. The findings of this research showed that there was some degree of symmetry of shocks among the BRICS countries. Nevertheless, there is a need for more policy coordination in order to achieve the desired level of symmetry of shocks among these countries.
- Full Text:
- Date Issued: 2020
The effects of monetary policy on output and unemployment
- Authors: Mkhombo, Thabo
- Date: 2018
- Subjects: Monetary policy -- Econometric models , Monetary policy -- South Africa Unemployment -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/32783 , vital:32360
- Description: Following the global financial crisis of 2007 and the ensuing global recessionary of 2009, most economies have been concerned with improving economic growth levels as well as lowering levels of unemployment rates. For the case of South Africa, much concern has been placed on the ability of monetary authorities to contribute to such macroeconomics objectives. therefore the primary objective of the study was to investigate the influence of the monetary policy conduct on economic growth and unemployment.
- Full Text: false
- Date Issued: 2018
- Authors: Mkhombo, Thabo
- Date: 2018
- Subjects: Monetary policy -- Econometric models , Monetary policy -- South Africa Unemployment -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/32783 , vital:32360
- Description: Following the global financial crisis of 2007 and the ensuing global recessionary of 2009, most economies have been concerned with improving economic growth levels as well as lowering levels of unemployment rates. For the case of South Africa, much concern has been placed on the ability of monetary authorities to contribute to such macroeconomics objectives. therefore the primary objective of the study was to investigate the influence of the monetary policy conduct on economic growth and unemployment.
- Full Text: false
- Date Issued: 2018
The impact of monetary policy on profitability of four major banks in South Africa
- Authors: Nyakombi, Kulasande Dolly
- Date: 2018
- Subjects: Monetary policy -- Econometric models , Financial services industry -- South Africa , Banks and banking -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/33589 , vital:32890
- Description: This study examines the effect of monetary policy on the profitability of the four major banks in South Africa, namely; Standard Bank, Ned bank, ABSA and FNB. The annual data used is for the period of 1999 to 2015, the study use Pooled OLS effects and Fixed effects to investigate the impact of Monetary Policy on Bank Profitability using Return on Assets as profitability measure. Empirical results indicate that monetary policy proxies by repo rate and lending rates were found to have no significant impact on bank profitability in the four major South African banks.
- Full Text:
- Date Issued: 2018
- Authors: Nyakombi, Kulasande Dolly
- Date: 2018
- Subjects: Monetary policy -- Econometric models , Financial services industry -- South Africa , Banks and banking -- South Africa
- Language: English
- Type: Thesis , Masters , MCom
- Identifier: http://hdl.handle.net/10948/33589 , vital:32890
- Description: This study examines the effect of monetary policy on the profitability of the four major banks in South Africa, namely; Standard Bank, Ned bank, ABSA and FNB. The annual data used is for the period of 1999 to 2015, the study use Pooled OLS effects and Fixed effects to investigate the impact of Monetary Policy on Bank Profitability using Return on Assets as profitability measure. Empirical results indicate that monetary policy proxies by repo rate and lending rates were found to have no significant impact on bank profitability in the four major South African banks.
- Full Text:
- Date Issued: 2018
- «
- ‹
- 1
- ›
- »