{
  "title": "Inward and Outward Spillovers in the SACU Area",
  "publication": "IMF Working Papers, January 31, 2013",
  "sourceUrl": "https://www.imf.org/en/publications/wp/issues/2016/12/31/inward-and-outward-spillovers-in-the-sacu-area-40286",
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  "summary": "Spillovers from South Africa into the other members of the Souther Africa Customs Union (known as the BLNS for Botstwana, Lesotho, Namibia, and Swaziland) are substantial reflecting sizeable real and financial interlinkages.",
  "sections": [
    {
      "heading": "Key Findings",
      "content": "- Spillovers from South Africa into the other members of the Southern Africa Customs Union (BLNS: Botswana, Lesotho, Namibia, and Swaziland) are substantial, reflecting sizeable real and financial interlinkages.\n- Shocks to real GDP growth in South Africa do not seem to systematically affect growth developments in BLNS countries as a group.\n- Vector autoregressions (VARs) that allow country-specific parameters suggest some strong spillovers onto the smaller economies."
    },
    {
      "heading": "Analytical Approach",
      "content": "- Use of vector autoregressions with country-specific parameters to identify heterogeneity in spillover effects across BLNS countries."
    },
    {
      "heading": "Subjects and Topics Covered",
      "content": "- Exports\n- Financial sector policy and analysis\n- Foreign exchange\n- Imports\n- International trade\n- Real exchange rates\n- Spillovers\n- Terms of trade"
    },
    {
      "heading": "Keywords (as provided)",
      "content": "- Africa, amount South Africa, BLNS country, Exports, Global, Imports, imports from the world, intra SACU trade, Intraregional trade distribution, Real exchange rates, SACU area, SACU Customs revenue formula, South Africa act, South Africa import, South Africa's Gdp, Southern Africa, Spillovers, Sub-Saharan Africa, sub-Saharan Africa economy, Terms of trade, WP\n\n---\n\n Content in this bundle\n\n- Wp1331\n  - Wp1331 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - Wp1331 (PDF){rel=\"external\" type=\"application/pdf\"}\n\n---\n\nSource: https://www.imf.org/en/publications/wp/issues/2016/12/31/inward-and-outward-spillovers-in-the-sacu-area-40286"
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    "Authors: Jorge I Canales Kriljenko, Farayi Gwenhamo, Saji Thomas",
    "Published: January 31, 2013",
    "Series: IMF Working Papers",
    "DOI: https://doi.org/10.5089/9781475522419.001",
    "Spillovers from South Africa into the other members of the Southern Africa Customs Union (BLNS: Botswana, Lesotho, Namibia, and Swaziland) are substantial, reflecting sizeable real and financial interlinkages.",
    "Shocks to real GDP growth in South Africa do not seem to systematically affect growth developments in BLNS countries as a group.",
    "Vector autoregressions (VARs) that allow country-specific parameters suggest some strong spillovers onto the smaller economies.",
    "Use of vector autoregressions with country-specific parameters to identify heterogeneity in spillover effects across BLNS countries.",
    "Exports",
    "Financial sector policy and analysis",
    "Foreign exchange",
    "Imports",
    "International trade",
    "Real exchange rates",
    "Spillovers",
    "Terms of trade",
    "Africa, amount South Africa, BLNS country, Exports, Global, Imports, imports from the world, intra SACU trade, Intraregional trade distribution, Real exchange rates, SACU area, SACU Customs revenue formula, South Africa act, South Africa import, South Africa's Gdp, Southern Africa, Spillovers, Sub-Saharan Africa, sub-Saharan Africa economy, Terms of trade, WP",
    "**Wp1331**"
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