Inward and Outward Spillovers in the SACU Area

Author/Editor: Jorge Iván Canales Kriljenko ; Farayi Gwenhamo ; Saji Thomas
Publication Date: January 31, 2013
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
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. However, shocks to real GDP growth in South Africa do not seem to systematically affect growth developments in BLNS countries as a group. Nevertheless, vector autoregressions, which allow country-specific parameters, suggest some strong spillovers onto the smaller economies.
Series: Working Paper No. 13/31
Subject(s): Spillovers | Botswana | Lesotho | Namibia | Swaziland | South Africa | Southern Africa | Regional shocks | External shocks | Workers remittances | Foreign direct investment | Fiscal policy

Publication Date: January 31, 2013
ISBN/ISSN: 9781475522419/1018-5941 Format: Paper
Stock No: WPIEA2013031 Pages: 24
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