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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Exchange rate policy and industrial restructuring
Author:Kahn, BrianISNI
Year:1992
Periodical:South African Review - SARS
Issue:6
Pages:493-508
Language:English
Geographic term:South Africa
Subjects:exchange rates
industrial development
Abstract:Primary commodity exporting countries face particular problems in the conduct of exchange rate policy. Price fluctuations in these commodities cause changes in an economy's real exchange rates which then impact on the other sectors of the economy. In South Africa, the recent weakness in the gold price has given impetus to export-oriented industrial restructuring on the part of the current government. Although the ANC does not envisage total reliance on export-oriented growth, recent policy documents do attach importance to South Africa becoming a significant manufacturing exporter in the future. The exchange rate policy options for South Africa in the context of attempts to reduce the economy's dependence on gold exports are examined. Attention is also given to the impact that the debt repayment commitments have on exchange rate policy and the prospects for renewed borrowing from abroad. Notes, ref.
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