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A practical macroframework
The international macroeconomy
5 other sections not shown
90 Figure apartheid balance of payments banking sector behaviour billion BOP surplus business conditions business cycle business enterprises business sector cent chapter commodity prices components Consequently consumer spending consumption countries country's credit creation current account cyclical decline demand domestic economy domestic financial variables domestic real domestic spending downswing phase early nineties economic growth economic policy economic trends employment expenditure export financial trends fixed investment foreign reserves framework German mark gold price growth rate households impact income inflation and interest inflation rate influence instability interest rates international economic international sanctions investment spending labour levels macro-economic variables ment monetary expansion monetary policy money supply nineteen eighties nineteen nineties nomic outflow overspending price inflation production rand exchange rate real variables Reserve Bank rising role sharply significant South Africa's South African economy tion total spending trade transactions upswing phase wage increases world economic growth world economy