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Southern African Economic Integration: Evidence from an Augmented Gravity Model

Author

Listed:
  • Moshi Optat Herman
  • Kirsten Wandschneider
  • Thierry Warin
  • Phanindra Wunnava

    (Middlebury College, USA)

Abstract

This paper investigates the feasibility of creating a common-currency union consisting of 16 countries in Southern Africa. We estimate an augmented-gravity model that includes public deficit, public debt, public expenditure, inflation, and the foreign reserves position. We also integrate Africa-specific variables such as existing economic blocs in the region, colonial heritage, and the convergence of living standards. Our analysis shows that the prospect for further integration in Southern Africa is promising, but many challenges still persist. The existing economic blocs can provide a first stepping stone to a larger currency union, but countries continuously have to cultivate good governance and fiscal discipline.

Suggested Citation

  • Moshi Optat Herman & Kirsten Wandschneider & Thierry Warin & Phanindra Wunnava, 2011. "Southern African Economic Integration: Evidence from an Augmented Gravity Model," The African Finance Journal, Africagrowth Institute, vol. 13(1), pages 1-13.
    • Handle: RePEc:afj:journl:v:13:y:2011:i:1:p:1-13
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    Cited by:

    1. Alfred Moyo, 2019. "Evaluating the impact of global oil prices on the SADC and the potential for increased trade in biofuels and natural gas within the region," WIDER Working Paper Series wp-2019-36, World Institute for Development Economic Research (UNU-WIDER).
    2. repec:mbr:jmonec:v:8:y:2013:i:1:p:169-181 is not listed on IDEAS
    3. Sylvanus Kwaku Afesorgbor & Peter A. G. Bergeijk, 2014. "Measuring Multi-Membership in Economic Integration and Its Trade Impact: A Comparative Study of ECOWAS and SADC," South African Journal of Economics, Economic Society of South Africa, vol. 82(4), pages 518-530, December.
    4. Afesorgbor, Sylvanus Kwaku & van Bergeijk, Peter A.G., 2011. "Multi-membership and effectiveness of regional trade agreements in Western and Southern Africa: a comparative study of ECOWAS and SADC," Proceedings of the German Development Economics Conference, Berlin 2011 1, Verein für Socialpolitik, Research Committee Development Economics.
    5. Alain Dudoit & Molivann Panot & Thierry Warin, 2021. "Towards a multi-stakeholder Intermodal Trade-Transportation Data-Sharing and Knowledge Exchange Network," CIRANO Project Reports 2021rp-28, CIRANO.

    More about this item

    Keywords

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    JEL classification:

    • F1 - International Economics - - Trade
    • F3 - International Economics - - International Finance
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • O24 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy
    • O55 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Africa

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