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Title Banking market integration in the SADC countries: evidence from interest rate analyses
Full text http://arno.unimaas.nl/show.cgi?fid=9464
Date 2007
Author(s) Aziakpono, Meshach; Kleimeier, Stefanie; Sander, Harald
Abstract This paper investigates the state, development and drivers of banking market integration in the member countries of the Southern African Development Community (SADC) by employing interest rate data. We first conduct a principal component analysis and find evidence for both increasing monetary integration and banking integration in loan and deposit markets. These integration processes are not developing uniformly and we can identify a convergence club. As banking market integration can be a genuine process or simply be driven by monetary integration, we also investigate the interest rate pass through from national and South African Central bank interest rates onto national retail rates. With respect to the convergence club we find both, genuine and monetary-integration driven processes though the latter dominate. We conclude that a selective expansion of the Common Monetary Area is possible but needs to be complement by efficient financial development policies
Publisher Maastricht University. FdEWB. METEOR
Type of publication Research paper
Format application/pdf
Source RM07047
Rights Maastricht University. FdEWB. METEOR, 2007
Repository Maastricht - University of Maastricht
Added to C-A: 2011-09-27;12:27:52