European Parliament Library

The Common Monetary Area in Southern Africa :, Shocks, Adjustment, and Policy Challenges, Iyabo Masha, Leighton Harris, Jian-Ye Wang, Kazuko Shirono

This study assesses the experience of the Common Monetary Area (CMA) based on available empirical evidence over the last two decades. It pays particular attention to member countries' adjustment to economic shocks in recent years and the inter-country linkages, including the spillover effects of policies. The paper draws the main lessons from the CMA experience, identifies key policy challenges, and discusses the issues facing the member countries in their efforts to achieve sustained growth. Implications for further economic integration in a broader regional context are also noted
Table Of Contents
Contents; Abbreviations and Acronyms; I. Introduction; Tables; 1.1. CMA Countries: Selected Economic and Social Indicators, 2004-05; II. Historical Background and Institutional Setting; The History of the Current CMA Arrangement; Institutional Framework; Boxes; 1. CMA and SACU: Major Events in History; Comparison with Other Monetary Unions; III. Long-Term Trends, Integration, and Convergence; GDP Growth and Per Capita Income; 2.1. Main Features of Selected Monetary Unions; Figures; 3.1. CMA: Average Real GDP Growth Rate, 1980-2005; 3.1. CMA Countries: Foreign Trade Indicators, 2003
Literary Form
non fiction
Description based upon print version of record
Physical Description
1 online resource (65 p.)
Specific Material Designation
Form Of Item

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