THE MAIN DETERMINANTS OF INFLATION IN SOUTH AFRICA: AN EMPIRICAL INVESTIGATION
作者: Oatlhotse Madito, Nicholas M. Odhiambo
刊名: Organizations and Markets in Emerging Economies, 2018, Vol.9 (2)
来源数据库: Faculty of Economics and Business Administration, Vilnius University
DOI: https://doi.org/10.15388/omee.2018.10.00011
关键词: InflationSouth AfricaError Correction Model
原始语种摘要: This study investigated the determinants of inflation in South Africa using quarterly data from 1970Q1 to 2015Q4. The study was motivated by recent trends in domestic inflation that has frequently been at the upper end of the target range of between 3% and 6%, and the need to guide inflation-related policy since 2008. These recent trends raised concerns regarding the effectiveness of the current monetary policy approach in responding to internal and external factors that are significant in determining domestic inflation. Using Error Correction Model (ECM) modelling techniques, empirical results revealed that inflation expectations, labour costs, government expenditure and import prices are positive determinants, while GDP and exchange rates are negative determinants of inflation. To...
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关键词翻译
关键词翻译
  • inflation 膨胀
  • expectations 期待的事物
  • macroeconomic 宏观经济的
  • expenditure 支出
  • monetary 金融
  • quarterly 每季
  • prices 行情
  • empirical 经验的
  • costs 费用
  • domestic 国产的