Working paper
Reflections on the South African Rand Crisis of 1996 and its Consequences.
- Abstract:
-
After South Africa's democratic elections in 1994, large capital inflows were induced by the cessation of trade and financial sanctions, improved creditworthiness and a liberalised capital account for foreigners. The flows were managed in a classic trade-off between currency stability, and raised interest rates to counter inflation resulting from a credit boom and partially sterilised intervention. In early 1996, the currency suffered a speculative attack. Using a theoretical model of currenc...
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Bibliographic Details
- Publisher:
- CSAE
- Series:
- Working Paper Series
- Publication date:
- 1999-01-01
Item Description
- Language:
-
English
- UUID:
-
uuid:bac6c41b-58a2-417c-970b-86ef1e2805bc
- Local pid:
-
oai:economics.ouls.ox.ac.uk:14515
- Deposit date:
-
2011-08-16
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- Copyright date:
- 1999
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