Building a Common Future in Southern Africa

Books, April 5, 2013

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Building a Common Future in Southern Africa

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Bibliographic details

• Authors: Joannes Mongardini, Tamon Asonuma, Olivier Basdevant, Alfredo Cuevas, Xavier Debrun, Lars Holger Engstrom, Imelda M. Flores Vazquez, Vitaliy Kramarenko, Lamin Y Leigh, Paul R Masson
• Published: April 5, 2013
• Series: Books
• DOI: https://doi.org/10.5089/9781616353995.071

Overview

• The Southern African Customs Union (SACU) is the oldest customs union in the world.
• The volume emphasizes opportunities to create higher economic growth and increased welfare benefits by fulfilling SACU’s vision to become an economic community with a common market and monetary union.
• The book describes policy options to address barriers to equitable and sustainable development in the region and outlines a plan for deeper regional integration.

Key findings and themes

• Regional integration through a common market and monetary union offers significant potential for higher economic growth and increased welfare for the people of the region.
• Addressing barriers to equitable and sustainable development is central to realizing the benefits of deeper integration.
• The analysis covers topics including Economic integration, Fiscal policy, Labor, Labor markets, Monetary unions, Unemployment, and Unemployment rate.

Policy recommendations and directions (as presented)

• Adopt policy options that remove barriers to equitable and sustainable development across SACU members.
• Pursue deeper regional integration steps toward a common market and monetary union to enhance trade creation and limit trade diversion.
• Strengthen institutional arrangements and fiscal frameworks to support integration and shared revenue mechanisms (including SACU revenue-sharing formula and revenue pool considerations).