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In pursuit of financial stability: The interaction between the macroprudential policy and the monetary policy in South Africa
Mini Dissertation (LLM)--University of Pretoria, 2018.
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| Format: | Thesis |
| Language: | English |
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University of Pretoria
2019
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| _version_ | 1867613698610167809 |
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| access_status_str | Open Access |
| author2 | Van Heerden, C.M. (Corlia) |
| author_browse | Van Heerden, C.M. (Corlia) |
| author_facet | Van Heerden, C.M. (Corlia) |
| collection | Thesis |
| dc_rights_str_mv | © 2019 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. |
| description | Mini Dissertation (LLM)--University of Pretoria, 2018. |
| format | Thesis |
| id | oai:repository.up.ac.za:2263/69892 |
| institution | University of Pretoria (South Africa) |
| language | English |
| last_indexed | 2026-06-10T12:40:17.184Z |
| license_str | Other — see source repository |
| provenance_str_mv | Harvested via OAI-PMH from UPSpace — University of Pretoria Institutional Repository |
| publishDate | 2019 |
| publishDateRange | 2019 |
| publishDateSort | 2019 |
| publisher | University of Pretoria |
| publisherStr | University of Pretoria |
| record_format | dspace |
| source_str | UPSpace — University of Pretoria Institutional Repository |
| spelling | oai:repository.up.ac.za:2263/69892 In pursuit of financial stability: The interaction between the macroprudential policy and the monetary policy in South Africa Van Heerden, C.M. (Corlia) u14174449@tuks.co.za Madya, Nyasha UCTD Mini Dissertation (LLM)--University of Pretoria, 2018. The 2008 Global Financial Crisis was one of the greatest schools ever attended by the world’s most intellect financial sector supervisors and regulators. These intelligent minds had for over decades placed much emphasis on only one of their central banks’ traditional roles, price stability whilst neglecting an equally important duty of directly promoting and maintaining financial stability. As pioneered during the Victorian era (1840s to 1914), the idea was that financial stability would be achieved through the implementation of monetary policy. The aftermath of the financial crisis saw the great minds from major participants on the global financial market coming together to design a regulatory framework model that facilitates the achievement financial stability. Hence, through the G20 countries’ meeting held in 2010 in Basel, Switzerland, a regulatory document or soft law rather, called Basel III was created. Incorporated in this document is a revamped macroprudential policy, a regulatory framework that is going to be heavily relied on to achieve financial stability both at a domestic and international scale. South Africa as a major participant on the global financial market and as a member of the G20 also took it upon itself to adopt the upgraded macroprudential policy as prescribed by Basel III. However, the adoption of this refurbished policy has not been a smooth flow. Many debates and scholars’ eyebrows have been raised concerning macroprudential policy. One of the heated and interesting debates has been on the manner in which this policy is going to interact with other public and macroeconomic policies such as monetary policy given the overlaps and areas of conflict between these policies. This research aims at suggesting the best possible legal framework that will facilitate the peaceful co-existence of macroprudential policy and monetary policy. To achieve this goal, the reader is first given a sense of the Global Financial Crisis and the surrounding circumstances. From there, a brief explanation of monetary policy and macroprudential policy is provided as it is crucial for one to first understand what these two policies that have raised so much concern entail. Meaning, the objectives, institutional, operational and analytical framework of these two policies is discussed. Moving on, the heart of this research is dissected, and this involves deconstructing the heated interaction debate, where it emanates from and the different arguments that have been advanced so far. Lastly, a brief outline of the most convincing argument will be provided together with recommendations on key issues concerning the interaction debate, that the South African Reserve Bank might have to consider. This dissertation reflects the law as at 31 October 2018 Mercantile Law LLM Unrestricted 2019-06-02T11:39:23Z 2019-06-02T11:39:23Z 2019/04/04 2018 Mini Dissertation Madya, N 2018, In pursuit of financial stability: The interaction between the macroprudential policy and the monetary policy in South Africa, LLM Mini Dissertation, University of Pretoria, Pretoria, viewed yymmdd <http://hdl.handle.net/2263/69892> A2019 http://hdl.handle.net/2263/69892 en © 2019 University of Pretoria. All rights reserved. The copyright in this work vests in the University of Pretoria. No part of this work may be reproduced or transmitted in any form or by any means, without the prior written permission of the University of Pretoria. application/pdf University of Pretoria |
| spellingShingle | UCTD In pursuit of financial stability: The interaction between the macroprudential policy and the monetary policy in South Africa |
| title | In pursuit of financial stability: The interaction between the macroprudential policy and the monetary policy in South Africa |
| title_full | In pursuit of financial stability: The interaction between the macroprudential policy and the monetary policy in South Africa |
| title_fullStr | In pursuit of financial stability: The interaction between the macroprudential policy and the monetary policy in South Africa |
| title_full_unstemmed | In pursuit of financial stability: The interaction between the macroprudential policy and the monetary policy in South Africa |
| title_short | In pursuit of financial stability: The interaction between the macroprudential policy and the monetary policy in South Africa |
| title_sort | in pursuit of financial stability the interaction between the macroprudential policy and the monetary policy in south africa |
| topic | UCTD |
| url | http://hdl.handle.net/2263/69892 |