On the feasibility of a monetary union in the Southern Africa Development Community
AbstractThis paper investigates the feasibility of a monetary union in Southern Africa Development Community (SADC) by looking at evidence of nominal exchange rate and inflation convergence. Using a methodology based on estimating time varying parameters, the evidence suggests non-convergence. The non-convergence of nominal exchange rate and consumer price inflation suggests that presently, the chances of SADC member countries satisfying some form of Maastricht-type criteria is quite low.
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Bibliographic InfoPaper provided by Hunter College: Department of Economics in its series Hunter College Department of Economics Working Papers with number 306.
Length: 25 pages
Date of creation: 2003
Date of revision: 2003
Inflation and Exchange Rate Convergence in SADC.;
Other versions of this item:
- Terence D. Agbeyegbe, 2008. "On the feasibility of a monetary union in the Southern Africa Development Community," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 13(2), pages 150-157.
- F1 - International Economics - - Trade
- F3 - International Economics - - International Finance
- O11 - Economic Development, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development
This paper has been announced in the following NEP Reports:
- NEP-ALL-2004-03-07 (All new papers)
- NEP-IFN-2004-03-07 (International Finance)
- NEP-MAC-2004-03-07 (Macroeconomics)
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