Exchange rate pass‐through to import prices in South Africa: is there asymmetry?
- Karoro, Tapiwa D, Aziakpono, Meshach J, Cattaneo, Nicolette S
- Authors: Karoro, Tapiwa D , Aziakpono, Meshach J , Cattaneo, Nicolette S
- Date: 2009
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/469753 , vital:77291 , https://doi.org/10.1111/j.1813-6982.2009.01216.x
- Description: This paper examines the magnitude and speed of exchange rate pass‐through (ERPT) to import prices in South Africa. It further explores whether the direction and size of changes in the exchange rate have different pass‐through effects on import prices, i.e. whether the exchange rate pass‐through is symmetric or asymmetric. The findings of the study suggest that ERPT in South Africa is incomplete but relatively high. Furthermore, ERPT is found to be higher in periods of rand depreciation than appreciation, which supports the binding quantity constraint theory. There is also evidence to suggest that pass‐through is slightly higher in periods of small changes than large changes in the exchange rate in harmony with the menu cost theory when the invoices are denominated in the exporters' currency.
- Full Text:
- Date Issued: 2009
- Authors: Karoro, Tapiwa D , Aziakpono, Meshach J , Cattaneo, Nicolette S
- Date: 2009
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/469753 , vital:77291 , https://doi.org/10.1111/j.1813-6982.2009.01216.x
- Description: This paper examines the magnitude and speed of exchange rate pass‐through (ERPT) to import prices in South Africa. It further explores whether the direction and size of changes in the exchange rate have different pass‐through effects on import prices, i.e. whether the exchange rate pass‐through is symmetric or asymmetric. The findings of the study suggest that ERPT in South Africa is incomplete but relatively high. Furthermore, ERPT is found to be higher in periods of rand depreciation than appreciation, which supports the binding quantity constraint theory. There is also evidence to suggest that pass‐through is slightly higher in periods of small changes than large changes in the exchange rate in harmony with the menu cost theory when the invoices are denominated in the exporters' currency.
- Full Text:
- Date Issued: 2009
Theoretical approaches to the analysis of trade and poverty and a review of related literature on South Africa
- Cattaneo, Nicolette S, Dodd, S
- Authors: Cattaneo, Nicolette S , Dodd, S
- Date: 2007
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/470402 , vital:77356 , https://hdl.handle.net/10520/EJC21450
- Description: This paper considers a variety of theoretical approaches to the analysis of trade and poverty, from conventional trade theory to a livelihoods approach towards the poverty impact of trade reform. The conclusion is reached that further development and integration of alternative frameworks that move beyond traditional trade theory is important for the evolution of pro-poor trade policy reform. The paper uses the methodological framework put forward by Winters (2000a,b) and McCulloch et al. (2001) to review existing research, prior to the SALDRU Trade and Poverty Project, relevant to the relationship between trade and poverty in South Africa. Important avenues for future research are identified. In concluding, the paper comments on appropriate policies that may be inferred from the theoretical discussion and South African research surveyed that could accompany trade reform to ameliorate potential adverse poverty outcomes.
- Full Text:
- Date Issued: 2007
- Authors: Cattaneo, Nicolette S , Dodd, S
- Date: 2007
- Subjects: To be catalogued
- Language: English
- Type: text , article
- Identifier: http://hdl.handle.net/10962/470402 , vital:77356 , https://hdl.handle.net/10520/EJC21450
- Description: This paper considers a variety of theoretical approaches to the analysis of trade and poverty, from conventional trade theory to a livelihoods approach towards the poverty impact of trade reform. The conclusion is reached that further development and integration of alternative frameworks that move beyond traditional trade theory is important for the evolution of pro-poor trade policy reform. The paper uses the methodological framework put forward by Winters (2000a,b) and McCulloch et al. (2001) to review existing research, prior to the SALDRU Trade and Poverty Project, relevant to the relationship between trade and poverty in South Africa. Important avenues for future research are identified. In concluding, the paper comments on appropriate policies that may be inferred from the theoretical discussion and South African research surveyed that could accompany trade reform to ameliorate potential adverse poverty outcomes.
- Full Text:
- Date Issued: 2007
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