The Impact of Load Shedding on Equity Markets in SA

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 This policy brief explores the impact of energy insecurity, in particular load shedding, on South Africa's stock market. The study employs Structural Vector Auto-Regression (SVAR) to analyse the stock market's reaction to load shedding, and focuses on key factors: operational risk, bond yields/interest rates, and the exchange rate. 

 This brief explores the causal connections between South Africa's renewable energy consumption, GDP, carbon emissions, oil prices, and policy measures. Its objective is to evaluate the current policy landscape and identify opportunities to bolster renewable energy adoption, align with global climate objectives, ensure energy security, and stimulate economic growth in South Africa.