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 |
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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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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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