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Periodical article | Leiden University catalogue | WorldCat |
Title: | An analysis of macro-economic convergence in SADC |
Author: | Rossouw, Jannie |
Year: | 2006 |
Periodical: | South African Journal of Economics |
Volume: | 74 |
Issue: | 3 |
Pages: | 382-390 |
Language: | English |
Geographic term: | Southern Africa |
Subjects: | SADC monetary areas |
External link: | https://onlinelibrary.wiley.com/doi/10.1111/j.1813-6982.2006.00080.x/pdf |
Abstract: | One of the goals of the Southern African Development Community (SADC) is macroeconomic convergence leading to monetary unification and a single central bank. This goal is aligned with the goal of the African Union to build a monetary union for the entire continent in stages, starting with each of the subregions, of which the SADC forms one important region. This paper considers the feasibility of convergence in the SADC in view of international experience (particularly the European Union) and similar initiatives in Africa. Despite views to the contrary, the current degree of compliance with the Maastricht criteria for convergence and membership of the European Union, shows that the challenges facing a SADC monetary union would not be insurmountable if the convergence criteria are viewed as permanent goals, rather than preconditions. Bibliogr., ref., sum. [Journal abstract] |