The term structure of interest rates in South Africa

Abstract

Since the late ' fifties the term structure of interest rates has attracted considerable attention from both theoretical and empirical economists. While potentially a very fruitful area for the application of the traditional methods of economic enquiry, the term structure has proved itself to be a potent testing ground for these tools, and consequently a wide range of sophisticated analytic devices have been introduced, Despite this, no general agreement has yet been reached and a number of crucial questions remain unanswered. It is our task in this dissertation to extend the enquiry into the South African context in an attempt to shed some light on the determination of the term structure of interest rates. Intro., p. 1.