FEASIBILITY OF MONETARY UNION IN THE SADC AND THE EAC: ANALYSIS OF MACROECONOMIC CONVERGENCE CRITERIA

E.H. Redda; Paul Francois Muzindutsi

Makale detayları

FEASIBILITY OF MONETARY UNION IN THE SADC AND THE EAC: ANALYSIS OF MACROECONOMIC CONVERGENCE CRITERIA

Yazarlar:

E.H. Redda | Paul Francois Muzindutsi

Yayıncı:

Sosyal Bilimler Araştırmaları Derneği

Dergi:

International Journal of Economics and Finance Studies 2016 Vol.8 Issue 2, pp.255-272

Belge Tipi:

Makale

Yayın Tarihi:

11/2016

Belge Dili:

Türkçe

Document ID (Org No.):

2000810897

Sıklık:

İki Yıllık

eISSN:

1309-8055

Özet:

 

In August 2003, the Association of African Central Bank Governors announced
 that it would strive to establish a single currency and common central bank by
 2021. Many regional trading blocs and economic communities in Africa are
 working towards this objective. For example, the Southern African Development
 Community (SADC) and the East African Community (EAC) are in the process of
 introducing monetary union in their respective regions which will be implemented
 in the near future. Such a decision is set to have wide-ranging economic
 ramifications if a favourable economic environment does not exist on the ground.
 The purpose of this paper is to analyse and assess the progress towards monetary
 union in the SADC and EAC, using the macroeconomic convergence criteria of
 the two economic regions in the envisaged time frame. This study used annual
 data, from 1995 to 2015, to analyse the economic feasibility of monetary union in
 the two African economic regions. Descriptive statistical analysis was employed
 to assess the attainment of the macroeconomic convergence criteria. Based on the
 finding, it is concluded that monetary union in both SADC and EAC is not
 feasible, at least in the envisaged timeframe. There is lot to be done in a more
 consistent and convincing fashion for a sustained period of time before the
 implementation of monetary union.

Makale detayları

FEASIBILITY OF MONETARY UNION IN THE SADC AND THE EAC: ANALYSIS OF MACROECONOMIC CONVERGENCE CRITERIA

Yazarlar: E.H. Redda | Paul Francois Muzindutsi

Yayıncı: Sosyal Bilimler Araştırmaları Derneği

Dergi: International Journal of Economics and Finance Studies 2016 Vol.8 Issue 2, pp.255-272

Belge Tipi: Makale

Yayın Tarihi: 11/2016

Belge Dili: Türkçe

Document ID (Org No.): 2000810897

Sıklık: İki Yıllık

eISSN: 1309-8055

Sayı

Yazarlar:

E.H. Redda | Paul Francois Muzindutsi

Yayıncı:

Sosyal Bilimler Araştırmaları Derneği

Dergi:

International Journal of Economics and Finance Studies 2016 Vol.8 Issue 2, pp.255-272

Belge Tipi:

Makale

Yayın Tarihi:

11/2016

Belge Dili:

Türkçe

Document ID (Org No.):

2000810897

Sıklık:

İki Yıllık

eISSN:

1309-8055