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financial crisis

Publication

Shaping macroeconomic outcomes

Chris Loewald
By early 2016, financial market participants had become increasingly critical of unsustainable current account deficits and low, unbalanced growth in many emerging economies. In response, adjustments have occurred (or are in process) in a wide range of countries – including Russia, Brazil, Mexico,...
Jul 2017
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Publication

The Cape of Perfect Storms: Colonial Africa’s first financial crash, 1788-1793

Roy Havemann and Johan Fourie
This paper investigates the causes and consequences of colonial Africa’s first financial crash, which happened in South Africa’s Dutch Cape Colony. The 1788–1793 crisis followed a common sequence of events: trade and fiscal deficits were monetized by printing money, credit extension accelerated,...
Apr 2015
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