On the feasibility of a monetary union in the Southern Africa Development Community

Terence D. Agbeyegbe

33 citations0/0 files storedInternational Journal of Finance & Economics

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Monetary Policy and Economic Impact Global Financial Crisis and Policies European Monetary and Fiscal Policies

Abstract

Abstract This 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. Copyright © 2007 John Wiley & Sons, Ltd.

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1996Efficient Tests for an Autoregressive Unit Root 1992Efficient Tests for an Autoregressive Unit Root 1983Rules, discretion and reputation in a model of monetary policy 1996Numerical distribution functions for unit root and cointegration tests 1992A Note with Quantiles of the Asymptotic Distribution of the Maximum Likelihood Cointegration Rank Test Statistics1 1998The Endogenity of the Optimum Currency Area Criteria 1999Unit Roots, Cointegration, and Structural Change 1991Optimum Currency Areas

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