T T Mboweni: Globalisation and implications for monetary policy in South Africa (Central Bank Articles and Speeches)

Globalisation could generally be taken to encompass the more liberalised and increased flow of goods, services, capital and finance across national economies. Globalisation is therefore not a new phenomenon. The degree of economic integration in the world has been rising over time. Technological progress has improved transportation and communications, enhanced information awareness and information processing, and has set the stage for new products and innovations. These developments make it much easier for national markets to be globally integrated.