One of the core objectives of economic development is to improve people’s standards of living. However, both standards of living and consumption expenditures are often determined by disposable income, crude oil prices and exchange rate volatility. The current paper employed quarterly time series data from 2002 to 2020 to analyse the responsiveness of household consumption expenditure to the petrol price, disposable income and exchange rate volatility in South African. The empirical outcome suggested that a long-run relationship exists between variables under consideration. Additionally, the current level of consumption expenditure was found to be determined by income level and exchange rate volatility whilst changes in petrol price had no significant effect on short-term consumption expenditure. Based on these findings, the study suggests that the South African policymakers and government authorities implement policies and strategies that enhance both household income and exchange rate. Those strategies may include strengthening the country’s currency, production improvement, inflation rate reduction, and the creation of job opportunities.

中文翻译：

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确定家庭消费支出对汽油价格、可支配收入和汇率波动的弹性

经济发展的核心目标之一是提高人民生活水平。然而，生活水平和消费支出往往取决于可支配收入、原油价格和汇率波动。本论文使用 2002 年至 2020 年的季度时间序列数据来分析南非家庭消费支出对汽油价格、可支配收入和汇率波动的反应。实证结果表明所考虑的变量之间存在长期关系。此外，目前的消费支出水平由收入水平和汇率波动决定，而汽油价格的变化对短期消费支出没有显着影响。基于这些发现，该研究表明，南非政策制定者和政府当局实施的政策和战略可以提高家庭收入和汇率。这些策略可能包括加强国家货币、改善生产、降低通货膨胀率和创造就业机会。