Research assesses South Africa’s vulnerability to Fed hike
Countries with large ratios of external financing needs to FX could be more vulnerable
South Africa had not "significantly" boosted its resilience to rising interest rates in the United States in early 2015 compared with early 2013 during the so-called "taper tantrum", according to a working paper published by the South African Reserve Bank.
Vulnerability to Normalization of Global Financing Conditions: An Operational Approach, by Shakill Hassan, Merrisa Paul and Siobhan Redford, constructs "two simple indicators of external vulnerability" and compares findings for 2013 and 2015
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