Globalisation and Deglobalisation- South Africa

13 Pages Posted: 13 Feb 2019

See all articles by South African Reserve Bank (SARB)

South African Reserve Bank (SARB)

Government of the Republic of South Africa - South African Reserve Bank

Date Written: December 21, 2018


South Africa is a small open economy characterised by increasing trade and financial integration since the advent of democracy in 1994. The country’s business cycle has been strongly synchronised with the rest of world, with large common shocks accounting for much of the increased synchronisation. South Africa’s major trading partners are China, Germany, India, Japan, the United Kingdom and the United States. Exports are dominated by commodities and imports by oil and manufactured goods. Globalisation has added to the economy’s productive capacity through increased choice and cheaper inputs for production, thus relieving bottlenecks and supply side pressures on price formation. But exposure to global markets has not been entirely smooth, with some industries, such as the motor production industry, benefiting, and others, such as clothing and textile industry, suffering. The globalisation of the economy has also been characterised by a rise in immigration and emigration flows.

Full Publication: Globalisation and Deglobalisation

Keywords: Imports, exports, trade, globalisation, immigration, protectionism

JEL Classification: E31, F15, F31, F32, F40, F62

Suggested Citation

(SARB), South African Reserve Bank, Globalisation and Deglobalisation- South Africa (December 21, 2018). BIS Paper No. 100v, Available at SSRN:

South African Reserve Bank (SARB) (Contact Author)

Government of the Republic of South Africa - South African Reserve Bank

Monetary Policy Research Unit
Research Department
South Africa

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