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Spatial Externalities, Openness and Financial Development in SADC: Beyond the Multilateral Monetary Agreement

Author

Listed:
  • Alex Bara
  • Gift Mugano
  • Pierre Le Roux

Abstract

This study empirically evaluates spatial externalities in financial development in SADC in line with spatial proximity theory, which asserts that externalities increase with proximity. Precisely, the study tests if financially less developed economies in SADC benefit from linkages with and proximity to South Africa, a financially developed economy. The Spatial Durbin Model estimated using GMM […]

Suggested Citation

  • Alex Bara & Gift Mugano & Pierre Le Roux, 2016. "Spatial Externalities, Openness and Financial Development in SADC: Beyond the Multilateral Monetary Agreement," Working Papers 628, Economic Research Southern Africa.
    • Handle: RePEc:rza:wpaper:628
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    More about this item

    Keywords

    financial development; SADC;

    JEL classification:

    • G20 - Financial Economics - - Financial Institutions and Services - - - General
    • H13 - Public Economics - - Structure and Scope of Government - - - Economics of Eminent Domain; Expropriation; Nationalization
    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • R12 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Size and Spatial Distributions of Regional Economic Activity; Interregional Trade (economic geography)
    • R15 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Econometric and Input-Output Models; Other Methods

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