This paper looks at international capital flows into and out of South Africa during the post-apartheid
era. It examines the types of flows that have been entering the country and how they are absorbed into the economy. It highlights the effects of these capital flows on the economy taking into account the broad range of literature that link financial crises to volatile surges in capital flows.Examination of how the surge in net capital flows was absorbed by the South African economy
shows that contrary to mainstream thinking more access to capital may actually weaken the South
African economy.
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