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Inward and Outward Spillovers in the SACU Area

Inward and Outward Spillovers in the SACU Area by Jorge Iván Canales Kriljenko
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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.
International Monetary Fund; January 2013
24 pages; ISBN 9781475559156
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Title: Inward and Outward Spillovers in the SACU Area
Author: Jorge Iván Canales Kriljenko; Farayi Gwenhamo; Saji Thomas