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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Financial and monetary autonomy and interdependence between South Africa and the other SACU countries
Author:Aziakpono, Meshach JesseISNI
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]
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