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Periodical article | Leiden University catalogue | WorldCat |
Title: | Financial and monetary autonomy and interdependence between South Africa and the other SACU countries |
Author: | Aziakpono, Meshach Jesse |
Year: | 2008 |
Periodical: | South African Journal of Economics |
Volume: | 76 |
Issue: | 2 |
Pages: | 189-211 |
Language: | English |
Geographic terms: | Southern Africa South Africa |
Subjects: | international monetary relations SACU interest rates monetary policy economic integration |
External link: | https://onlinelibrary.wiley.com/doi/10.1111/j.1813-6982.2008.00173.x/pdf |
Abstract: | This paper uses cointegration and error correction modelling techniques together with tests of weak exogeneity, and monthly interest rates for the period 1990 to 2005, to examine the degree of financial and monetary autonomy and interdependence between South Africa and the other Southern African Customs Union (SACU) countries. The results reveal a high level of dependence of the other SACU countries' financial systems on South Africa's financial system, which suggests that a monetary unification with a single central bank (South African Reserve Bank) and monetary policy for the union is feasible. Bibliogr., notes, ref., sum. [Journal abstract] |