Monetary policy, macro-stability and growth: South Africa’s recent experience and lessons.
There is greater appreciation now amongst economists of the negative effect of uncertainty on investment, growth and equality, especially when credit constraints are widespread. This implies an important linkage between the transparency and predictability of the policy environment, and growth and equality. The paper begins with a literature survey on the inflation and inflation volatility link, the uncertainty and investment link and the inflation volatility and growth link. This framework is...Expand abstract
- World Economics
- Publication date:
- Local pid:
- Copyright date: