Global Economic Uncertainties and Exchange Rate Shocks ― Transmission Channels to the South African Economy

This book examines the macroeconomic and regulatory impact of domestic and international shocks on the South African economy resulting from the 2009 financial crisis. It also assesses the impact of the US economy’s eventual recovery from the crisis and the prospect of higher US interest rates in future.

Told in three parts, the book explores associations between economic growth, policy uncertainty and the key domestic and international transmission channels, and transmission effects, of global financial regulatory and domestic macro-economic uncertainties on subdued and volatile economic recovery, financial channels, lending rate margins, and credit growth. The book concludes by extending its focus to the role of US monetary policy, capital flows and rand/US dollar volatility on the South African economy.

Eliphas Ndou is an economist at the South African Reserve Bank, and a lecturer at the University of the Witwatersrand, Johannesburg, South Africa. His research interests include international finance and macroeconomics, applied macro and microeconomics, monetary policy, fiscal policy, banking regulation and macro prudential policy.

Nombulelo Gumata holds a Masters Degree in Economics from the University of Johannesburg. She is an economist at the South African Reserve Bank. She also lectures and tutors on a part time basis at the Centre for Education in Economics and Finance Africa (CEEF Africa).

Prof. Mthuli Ncube is Managing Director of Quantum Global Research Lab, Switzerland, and Professor at the University of Oxford, and HSBC Distinguished Professor of Banking and Finance at University of the Witwatersrand(Wits), Wits Business School. Prof. Ncube served as Chief Economist and Vice President of the African Development Bank Group. He has been an Investment Banker. He holds a PhD in Economics (Mathematical Finance) from University of Cambridge. He is Chairman of the African Economic Research Consortium (AERC) Board and Board member of Global Development Network (GDN) and Royal Africa Society (RAS). He has been Lecturer in Finance at London School of Economics (LSE) and Dean of Wits Business School, and Dean of Wits Faculty of Commerce Law and Management. He has also authored 13 books and numerous research papers in economics and finance.