FINANCIAL AND MONETARY AUTONOMY AND INTERDEPENDENCE BETWEEN SOUTH AFRICA AND THE OTHER SACU COUNTRIES

The 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 Cust...

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Veröffentlicht in:The South African Journal of economics 2008-06, Vol.76 (2), p.189-211
1. Verfasser: Aziakpono, Meshach Jesse
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container_title The South African Journal of economics
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creator Aziakpono, Meshach Jesse
description The 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.
doi_str_mv 10.1111/j.1813-6982.2008.00173.x
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identifier ISSN: 0038-2280
ispartof The South African Journal of economics, 2008-06, Vol.76 (2), p.189-211
issn 0038-2280
1813-6982
language eng
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source RePEc; Wiley Online Library Journals Frontfile Complete; PAIS Index
subjects C32
cointegration
Cointegration analysis
Customs unions
Economic models
F33
F36
Financial integration
Financial systems
Interdependence
Interest rates
International economic relations
International monetary economics
International monetary relations
monetary interdependence
Monetary policy
SACU
South Africa
Southern Africa
Studies
title FINANCIAL AND MONETARY AUTONOMY AND INTERDEPENDENCE BETWEEN SOUTH AFRICA AND THE OTHER SACU COUNTRIES
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