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AN ANALYSIS OF MACRO‐ECONOMIC CONVERGENCE IN SADC 1
Author(s) -
Rossouw Jannie
Publication year - 2006
Publication title -
south african journal of economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.502
H-Index - 31
eISSN - 1813-6982
pISSN - 0038-2280
DOI - 10.1111/j.1813-6982.2006.00080.x
Subject(s) - unification , convergence (economics) , macro , economic and monetary union , economics , economic union , european union , international economics , european monetary union , political science , international trade , economic system , macroeconomics , monetary policy , computer science , programming language
One of the goals of the Southern African Development Community (SADC) is macro‐economic convergence leading to monetary unification and a single central bank. This goal is aligned with the goal of the African Union to build a monetary union for the entire continent in stages, starting with each of the subregions, of which SADC forms one important region. Despite views to the contrary, the current degree of compliance with the Maastricht criteria for convergence and membership of the European Union, shows that the challenges facing a SADC monetary union would not be insurmountable if the convergence criteria are viewed as permanent goals, rather than preconditions.