Towards macro-economic convergence in SACU : the position of Botswana
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Date
Authors
Shangase, Mabutho
Journal Title
Journal ISSN
Volume Title
Publisher
University of Pretoria, Department of Political Sciences
Abstract
In light of recent developments such as the African Continental African Free
Trade Area agreement (AfCFTA), incrementalist approaches to regional inte
gration that focus on sub-regions seems to have been pushed to the backburner
as more focus puts the entire African continent at the centre of integration
processes. With all its potential, gradual macro-economic convergence has
accordingly been neglected. Discussions on macro-economic convergence have
on the other hand been cast over the broader sub-region such as the Southern
African Development Community (SADC) where a number of indicators and
targets have been identified and pursued closely. Whilst looking at Botswana as a
point of departure, this paper argues that incremental macro-economic
convergence is pivotal to broader regional integration and the Southern African
Customs Union (SACU) provides an ideal stepping-stone. An incrementalist
approach to macro-economic convergence as well as broader regional integration
should begin with identifying key formal institutions that serve as custodians of
macro-economic policy such as the central banks and departments of finance or
treasuries. Using secondary data sources, with Botswana as a case study, this paper
foregrounds macro-economic convergence, macro-economic policy making
institutions, and SACU as critical building blocks for broader regional integration.
Description
Keywords
Macro-economic convergence, Economy, Trade, Botswana, Southern African Development Community (SADC), Southern African Customs Union (SACU)
Sustainable Development Goals
Citation
Shangase, M. 2019, 'Towards macro-economic convergence in SACU : the position of Botswana', Strategic Review for Southern Africa, vol. 41, no. 2, pp. 1-16.