Download or read book IMF Staff Papers, Volume 48, No. 2 written by International Monetary Fund. Research Dept. and published by International Monetary Fund. This book was released on 2001-12-12 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper analyzes the link between product variety and economic growth. It finds support for the hypothesis that a greater degree of product variety relative to the United States helps to explain relative per capita GDP levels. The paper presents an empirical study for South Africa, which indicates that there exists a stable money demand type of relationship among domestic prices, broad money, real income, and interest rates, as well as a long-term relationship among domestic prices, foreign prices, and the nominal exchange rate.