Why so much pessimism about economic integration in Africa? The case of the Southern African development community
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Date
Authors
Zerihun, Mulatu F.
Journal Title
Journal ISSN
Volume Title
Publisher
Adonis and Abbey Publishers
Abstract
African economic integration initiatives have been judged by models and theoretical concepts developed outside Africa. Findings from such unrealistic and simplified models, rather than augment the continental initiatives, often create pessimism among stakeholders in the continent and outside. Hence, this paper emphasizes the fact that integration attempts should be evaluated in the context of their objectives, and the political, economic, and institutional setups in which they operate. To understand the economic integration dynamics in Africa and other developing regions, our sets of analysis should go beyond the common approaches which are based on optimum currency area (OCA) theory and experiences pertinent to north-north monetary integration. African countries need to adopt an alternative model that make the integration
initiatives less costly and engender pessimism. Empowering citizens and stakeholders to make informed decisions may also reduce the existing pessimism about a Pan-African Economic Community initiative.
Description
The fifteen countries that make up the SADC are Angola, Botswana, Democratic
Republic of Congo, Lesotho, Malawi, Madagascar, Mauritius, Mozambique, Namibia,
Seychelles, South Africa, Swaziland, Tanzania, Zambia, and Zimbabwe.
Keywords
Economic integration, Economic community, Africa, Pessimism, Southern African Development Community (SADC), Optimum currency area (OCA)
Sustainable Development Goals
Citation
Zerihun, M.F. & Breitenbach, M. 2019, 'Why so much pessimism about economic integration in Africa? The case of the Southern African development community', African Journal of Business and Economic Research, vol. 14, no. 3, pp. 33-52.