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Research and review articles are invited for publication in September - October 2026 (Volume 18, Issue 1) Submit manuscript

The relationship between the real exchange rate and capital account: The Case for South Africa

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  • The relationship between the real exchange rate and capital account: The Case for South Africa

Richard Mensah 1, *, Seth Asiedu 2 and William Vortia 3

1 Dooly County High School, Vienna, GA 31092, U.S.A.
2 UNICAF University, Malawi
3 Westcliff University, Irvine, California, U. S. A

Review Article
Magna Scientia Advanced Research and Reviews, 2026, 16(01), 077-081
Article DOI: 10.30574/msarr.2026.16.1.0010
DOI url: https://doi.org/10.30574/msarr.2026.16.1.0010

Received on 13 December 2025; revised on 21 January 2026; accepted on 24 January 2026

This paper examines the relationship between the rand exchange rate and South Africa’s capital account. Results we obtained from the autoregressive distribution lag (ARDL) framework suggest that while there is no short run causality between real exchange rate and capital account, in the long run, capital account Granger cause real exchange rate. We interpret our results to suggest that capital inflow play an important role in explaining the dynamic changes in South African rand. Our finding has important policy implication.

Exchange rate; Balance of payment; Cointegration; Error corrections

https://msarr.magnascientiapub.com/sites/default/files/fulltext_pdf/MSARR-2026-…

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Richard Mensah, Seth Asiedu and William Vortia. The relationship between the real exchange rate and capital account: The Case for South Africa. Magna Scientia Advanced Research and Reviews, 2026, 16(1), 077-081. Article DOI: https://doi.org/10.30574/msarr.2026.16.1.0010

Copyright © Author(s). All rights reserved. This article is published under the terms of the Creative Commons Attribution 4.0 International License (CC BY 4.0), which permits use, sharing, adaptation, distribution, and reproduction in any medium or format, as long as appropriate credit is given to the original author(s) and source, a link to the license is provided, and any changes made are indicated.

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