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

Meshach Aziakpono (), Stefanie Kleimeier () and Harald Sander

Applied Economics, 2012, vol. 44, issue 29, 3857-3876

Abstract: This study investigates the state, development and drivers of banking market integration in the member countries of the Southern African Development Community (SADC). A Principal Component Analysis (PCA) of national retail interest rates indicates increasing integration in loan and deposit markets. These integration processes are not developing uniformly and we can identify a convergence club. When investigating the interest rate pass-through from central bank onto retail rates for this convergence club, we find both, genuine and monetary-integration driven processes though the latter dominate. We thus conclude that a selective expansion of the Common Monetary Area (CMA) is possible.

Date: 2012
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Related works:
Working Paper: BANKING MARKET INTEGRATION IN THE SADC COUNTRIES: EVIDENCE FROM INTEREST RATE ANALYSES (2011) Downloads
Working Paper: Banking market Integration in the SADC countries: evidence from interest rate analyses (2007) Downloads
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DOI: 10.1080/00036846.2011.583219

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