Abstract
Orientation: The 2007–2008 global financial crisis caused negative spillovers to the real
economy of the United States as well as other economies across the world.
Research purpose: The main aim of this article is to determine the cyclical characteristics of
important South African financial sections.
Motivation for the study: Financial cycles are complex, making them hard to measure and
understand. This, in turn, makes financial cycles and the effect of fluctuations in financial
cycles hard to predict and manage...