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 Periodical article |
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| Title: | Revenue distribution and economic development in the Southern African Customs Union |
| Author: | MacCarthy, C.L. |
| Year: | 1994 |
| Periodical: | South African Journal of Economics |
| Volume: | 62 |
| Issue: | 3 |
| Pages: | 167-187 |
| Language: | English |
| Geographic term: | Southern Africa |
| Subjects: | SACU economic development |
| External link: | https://doi.org/10.1111/j.1813-6982.1994.tb01224.x |
| Abstract: | The SACU (Southern African Customs Union) Agreement, between South Africa and the BLS countries (Botswana, Lesotho and Swaziland), came into force in 1969, replacing the earlier Agreement which had been in force since 1910. Namibia joined in 1990. For the BLNS countries the customs union represents an important source of revenue which includes compensatory payments for being linked to a much larger economy. South Africa in turn gains from having the BLNS countries as a captive market for its goods. But perhaps the most important advantage for Pretoria has been the political dividend of being linked by a formal agreement to independent African States. The agreement which created this arrangement has a specific economic and political background which is currently subject to major change. This article examines the background, the changes which might be expected, and the likely influence this will have on SACU. It shows that for the smaller SACU members the customs union has not produced the results expected of the import substitution paradigm of economic integration. To correct the imbalance in the industrial growth derived from integration, the author suggests more cooperation between South Africa and the BLNS countries. After all, the new political dispensation in South Africa makes closer cooperation possible. Bibliogr., notes, ref. |
