This paper uses a structural VAR methodology to identify aggregate demand and supply shocks to real output for the South African economy. Demand shocks, in turn, are separated into fiscal and monetary shocks. The model is estimated with quarterly data over two overlapping samples: 1960Q2--2006Q4...

This paper aims to describe, identify underlying factors and seek explanations for South Africa's economic recovery since 1994, as evidenced by trends in growth and investment. Compared with an international peer group, the initial conditions for a dramatic growth recovery were inauspicious in...