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Banking market integration in the SADC countries : evidence from interest rate analyses

  • 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.

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Verfasserangaben:Meshach Jesse Aziakpono, Stefanie Kleimeier, Harald Sander
URN:urn:nbn:de:101:1-201202097474
Jahr der Fertigstellung:2009
Schriftenreihe (Bandnummer):GLOBUS working paper (2009,1)
Dokumentart:Arbeitspapier
Sprache:Englisch
Datum des Hochladens:24.01.2012
GND-Schlagwort:Bank; Integration; Markt; Southern African Development Community; Südafrika <Staat>
Freies Schlagwort / Tag:Banking Market Integration; Interest Rate Pass-Through; Monetary Integration; South Africa
Fakultäten und Zentrale Einrichtungen:Wirtschafts- und Rechtswissenschaften (F04) / Fakultät 04 / Institut für Betriebswirtschaftslehre
DDC-Sachgruppen:300 Sozialwissenschaften / 330 Wirtschaft
JEL-Klassifikation:E Macroeconomics and Monetary Economics / E4 Money and Interest Rates / E42 Monetary Systems; Standards; Regimes; Government and the Monetary System; Payment Systems (Updated!)
E Macroeconomics and Monetary Economics / E4 Money and Interest Rates / E43 Determination of Interest Rates; Term Structure of Interest Rates
E Macroeconomics and Monetary Economics / E5 Monetary Policy, Central Banking, and the Supply of Money and Credit / E52 Monetary Policy
E Macroeconomics and Monetary Economics / E5 Monetary Policy, Central Banking, and the Supply of Money and Credit / E58 Central Banks and Their Policies
F International Economics / F3 International Finance / F36 Financial Aspects of Economic Integration
Open Access:Open Access