Towards Macro-Economic Convergence in SACU: The Position of Botswana

2020 ◽  
Vol 41 (2) ◽  
Author(s):  
Mabutho Shangase
Keyword(s):  
Economic Policy ◽  
Regional Integration ◽  
Secondary Data ◽  
Free Trade Area ◽  
Building Blocks ◽  
Customs Union ◽  
Economic Convergence ◽  
Trade Area ◽  
Recent Developments

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.

Towards Macro-Economic Convergence in SACU: The Position of Botswana

2020 ◽  
Vol 41 (1) ◽  
Author(s):  
Mabutho Shangase
Keyword(s):  
Economic Policy ◽  
Regional Integration ◽  
Secondary Data ◽  
Free Trade Area ◽  
Building Blocks ◽  
Customs Union ◽  
Economic Convergence ◽  
Trade Area ◽  
Recent Developments

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.

Regionalism and the Global Political Economy

2013 ◽  
Author(s):  
Axel Hülsemeyer
Keyword(s):  
Political Economy ◽  
Regional Integration ◽  
Free Trade Area ◽  
Comparative Approach ◽  
Customs Union ◽  
Causal Connection ◽  
The European Union ◽  
Global Political Economy ◽  
Trade Area ◽  
Integration Schemes

The terms “region,” “regionalism,” and “regional integration” are often used synonymously in the academe. For instance, one author refers to Pacific Asian regionalization, North American regionalism and regional integration in Europe. Some authors view “regionalism” as the analytically broader term. Since the mid-1990s, there has been a more general movement toward “economic regionalism or regional trade agreements,” building on the concept of “new regionalism” and coinciding with the notion of “preferential trading arrangements.” This implies only those integration schemes which have an economic purpose, are in geographical proximity to each other, and consist of more than two states qualify for inclusion. There are five stages in the deepening of formal regional integration: free trade area, customs union, common market, economic union, and political union. From the late-1950s to the late 1990s, two approaches have attempted to explain the process (rather than the origins) of regionalism: neofunctionalism and liberal intergovernmentalism. Scholars argue whether there is a causal connection between regional integration and Global Political Economy (GPE), or whether they are simply correlated. Three themes from the literature on regionalism and GPE can be identified. First, the numerous studies since the late 1990s that have taken a decidedly comparative approach, irrespective of their level of analysis, agree that there is some “logic” to regional arrangements. Second, confusion occurs with domestic causality. Third, large membership has become a concern for the European Union.

scholarly journals Impact of the Enlargement of the European Union on the Foreign Trade and Development of the New Members

ECONOMICS ◽  
2017 ◽  
Vol 5 (1) ◽  
pp. 36-51
Author(s):  
Milenko Krajišnik ◽  
Aleksandra Žutić
Keyword(s):  
European Union ◽  
Foreign Trade ◽  
Economic Integration ◽  
Regional Integration ◽  
Free Trade Area ◽  
Customs Union ◽  
The European Union ◽  
Regional Economic ◽  
New Members ◽  
Trade Area

SummaryOne of the most important characteristics of the process of globalization is the creation of different regional economic integrations. The most developed regional economic integration in the world is the European Union. Since it was found, when six founder countries created the free trade area for coal and steel, European Union passed all the phases of development of the economic integration, through the customs union and common market to the economic and monetary union. Through the six waves of enlargement European Union has become the integration of 28 countries with over 500 million habitants. Every enlargement of this regional integration had an impact on the economic position and the development of both the old and the new members. The biggest increase in the number of members brought the 5th big enlargement of the European Union, when the number of the member countries increased in total for 12 countries, first for 10, and then for 2 more.The effects of this enlargement on former soviet countries are specially interesting not only because of the number of the new members, but also because of the fact that these countries during the joining have also pass the process of the transition to the market economy.The aim of this work is to examine the effects of the enlargement on the foreign trade of the new members, and the effects of the changes in foreign trade on the economic development of these countries. The analysis of the effects of joining the European Union could be interesting for the countries which strive to become members of this economic regional integration.

Armenia Caught Between (In-)Compatible Legal Orders: Paths of Competitive and Cumulative Integration

2019 ◽  
Vol 65 (1) ◽  
pp. 106-134
Author(s):  
Benedikt Harzl ◽  
Aistė Mickonytė
Keyword(s):  
Regional Integration ◽  
Free Trade Area ◽  
Customs Union ◽  
Association Agreement ◽  
Trade Area ◽  
Eurasian Economic Union ◽  
Differentiated Integration ◽  
Economic Union ◽  
Eurasian Region ◽  
The Eu

In 2013, Armenia abandoned the plan to sign the Association Agreement and to establish a Deep and Comprehensive Free Trade Area (DCFTA) with the EU. Instead, it acceded to the Eurasian Economic Union (EAEU). Against this U-turn in Armenia’s integration agenda, this contribution critically investigates the (in)compatibility of participation in the European and the Eurasian legal orders. While the customs union-based regional integration processes preclude Armenia’s participation in both, the authors argue that the strict dichotomy of having to choose one or another transnational legal order and the subsequent legal and political divisions harm Armenia and hamper the achievement of objectives inherent to the EU’s Eastern Neighborhood. It will be argued that this dichotomy may be overcome by a rapprochement between the EU and the EAEU, potentially through contractual relations. Moreover the creative ways in which the EU already provides for differentiated integration could be adapted to enable Armenia reconcile legal approximation with the EU with its engagement within the Eurasian region.

Geo-Economic Competition in Latin America: Brazil, Venezuela, and Regional Integration in the 21st Century

2018 ◽  
Vol 33 ◽  
Author(s):  
Guilherme Casarões
Keyword(s):  
Latin American ◽  
Regional Integration ◽  
Free Trade Area ◽  
The United States ◽  
Economic Competition ◽  
Integration Model ◽  
Trade Area ◽  
Complex Processes ◽  
The Us ◽  
New Institutions

The institutional framework of Latin American integration saw a period of intense transformation in the 2000s, with the death of the ambitious project of the Free Trade Area of the Americas (FTAA), spearheaded by the United States, and the birth of two new institutions, the Union of South American Nations (UNASUR) and the Community of Latin American and Caribbean States (CELAC). This article offers a historical reconstruction of regional integration structures in the 2000s, with emphasis on the fault lines between Brazil, Venezuela and the US, and how they have shaped the institutional order across the hemisphere. We argue that the shaping of UNASUR and CELAC, launched respectively in 2007 and 2010, is the outcome of three complex processes: (1) Brazil’s struggle to strengthen Mercosur by acting more decisively as a regional paymaster; (2) Washington’s selective engagement with some key regional players, notably Colombia, and (3) Venezuela’s construction of an alternative integration model through the Bolivarian Alliance (ALBA) and oil diplomacy. If UNASUR corresponded to Brazil’s strategy to neutralize the growing role of Caracas in South America and to break apart the emerging alliance between Venezuela, Argentina, and Bolivia, CELAC was at the same time a means to keep the US away from regional decisions, and to weaken the Caracas-Havana axis that sustained ALBA.

Recent Developments in the Regulation of Investor-State Dispute Resolution: Any Lessons for the Southern African Development Community?

2017 ◽  
Vol 10 (2-3) ◽  
pp. 180-204
Author(s):  
Lawrence Ngobeni ◽  
Babatunde Fagbayibo
Keyword(s):  
Dispute Resolution ◽  
Free Trade ◽  
Free Trade Area ◽  
Trade Agreement ◽  
Southern African Development Community ◽  
African Union ◽  
Foreign Investments ◽  
African Development ◽  
Trade Area ◽  
Recent Developments

Abstract In 2016, the Southern African Development Community (SADC) amended Annex 1 of the SADC Protocol on Finance and Investment (FIP) in order to remove investor access to international arbitration or Investor-State Dispute Resolution (ISDS). The recent formation of the African Continental Free Trade Area (AfCFTA) and the COMESA-EAC-SADC Tripartite Free Trade Agreement (T-FTA) are factors that will likely curtail SADC’s ability to regulate foreign investments. Both AfCFTA and T-FTA are supposed to have their own investment protocols. This means that SADC faces the loss of regulatory authority over foreign investments. The recent formation of the Pan African Investment Code (PAIC) has shown that some African Union (AU) Member States want to provide ISDS for their investors, while others including SADC Members States do not. This article intends to evaluate the lessons SADC can learn from other jurisdictions in terms of the effective regulation of ISDS.

scholarly journals MOVIMIENTOS SOCIALES E INTEGRACIÓN REGIONAL: EL CASO DE LA ARTICULACIÓN DE MOVIMIENTOS SOCIALES HACIA EL ALBA

2013 ◽  
Vol 8 (16) ◽  
pp. 157 ◽  
Author(s):  
Karla Díaz Martínez
Keyword(s):  
Social Movements ◽  
Latin America ◽  
Regional Integration ◽  
Free Trade Area ◽  
Trade Area ◽  
The Social ◽  
Social Entity ◽  
The Us ◽  
America Latina ◽  
Movimientos Sociales

El ALBA es un espacio de integración regional, alternativo al alca propuesto por EEUU, que inaugura una etapa denominada regionalismo posneoliberal. El ALBA desde sus orígenes ha contado con el acompañamiento de movimientos sociales de carácter antiimperialista y antineoliberal. La propia organización generó una instancia social: el Consejo de Movimientos Sociales; sin embargo, los movimientos sociales han generado de forma paralela y autónoma la Articulación de Movimientos Sociales hacia el ALBA. Este trabajo da cuenta de las características de este espacio de articulación social, a partir de propuestas teóricas pensadas en América Latina, y presenta un balance de las potencialidades y los desafíos de los movimientos sociales en el escenario latinoamericano y su influencia en la integración regional.   SOCIAL MOVEMENTS AND REGIONAL INTEGRATION: THE ARTICULATION OF SOCIAL MOVEMENTS TOWARD ALBAABSTRACTALBA (the Bolivarian Alliance for the Peoples of Our Americas) is a regional integration entity created as an alternative to the US-proposed FTAA (Free Trade Area of the Americas, ALCA in Spanish). ALBA inaugurates a period that has been referred to as post-neoliberal regionalism. Since its origin, ALBA has been accompanied by social movements with an anti-imperialistic and anti-neoliberal stance. ALBA, itself, generated a social entity: the Social Movements Council. However, in a parallel and autonomous way, the social movements created the Articulation of Social Movements toward ALBA. This article describes the characteristics of this entity for social articulation based on theoretical proposals developed in Latin America, and presents a balance of the potentialities and challenges of social movements in Latin America and their incidence in regional integration.

scholarly journals The ASEAN WITHOUT A CUSTOMS UNION OR A SINGLE MARKET CONSEQUENCES OF THE ASEAN ECONOMIC COMMUNITY BLUEPRINT 2025

2020 ◽  
Vol 2 (1) ◽  
pp. 101-127
Author(s):  
Moh Firstananto Jerusalem
Keyword(s):  
Economic Integration ◽  
Free Trade Area ◽  
Single Market ◽  
Integration Theory ◽  
Customs Union ◽  
Economic Community ◽  
Trade Area ◽  
Market Economic ◽  
Asean Countries ◽  
Asean Economic Community

Abstract In the ASEAN Economic Community blueprint 2015 the term “single market” was used as a goal of economic community. Theoretically, single market is a level of economic integration after customs union. Under that blueprint, customs union could have a chance to be established as a necessary prerequisite for single market. However, the new blueprint 2025 does not adopt single market concept anymore. Different terms have been introduced namely “integrated and cohesive economy” and “unified market”. This article aims at assessing economic integration concept adopted in the ASEAN Economic Community blueprint by utilizing content analysis. It will review the change of concept by employing economic integration theory in order to indicate the direction of economic community goal. The finding is that the change of terms reflects the change of concept. As a result, ASEAN Economic Community will have a different direction in pursuing economic integration. Therefore, under the new blueprint ASEAN will not proceed to customs union and single market. However, it will remain at free trade area level of economic integration. In addition, ASEAN will not be a close trade block but tend to be an open regionalism in relation to non-ASEAN countries or regions. Keywords: ASEAN Economic Community, Customs Union, Single Market, Economic Integration, Open Regionalism.

scholarly journals Trade and Growth

2021 ◽  
pp. 249-277
Author(s):  
Jakkie Cilliers
Keyword(s):  
Economic Growth ◽  
Regional Integration ◽  
Poverty Reduction ◽  
Regional Cooperation ◽  
Free Trade Area ◽  
Successful Implementation ◽  
Trade Area ◽  
Growth Increase ◽  
Trading Partners ◽  
History Of

AbstractCilliers starts by exploring the modern history of international trade and the importance of trade to economic growth and global cooperation. The chapter then provides an overview of Africa’s trading partners, the need for greater regional integration in the continent and the challenges to achieving intra-regional cooperation. It examines the need to improve the quality of governance, bridge the infrastructure deficit and eventually focus on a manufacturing-led growth path. Reducing both tariff and non-tariff barriers could facilitate the successful implementation of African Continental Free Trade Area (AfCFTA), induce economic growth, increase per capita incomes and reduce poverty. A penultimate section models the potential impact of the AfCFTA on growth, poverty reduction and increased average incomes.

Indonesian Visions of Regionalism: From Yudhoyono to Jokowi

2017 ◽  
Author(s):  
Jürgen Rüland
Keyword(s):  
Foreign Policy ◽  
Civil Society ◽  
Free Trade ◽  
Regional Integration ◽  
Free Trade Area ◽  
Trade Area ◽  
Leadership Frame ◽  
Interpretive Frame ◽  
European Regional

With the “leadership frame,” the chapter unearths a new interpretive frame of the Charter from 2009 onward, suggesting a gradual return of extant ideas of Indonesian foreign policymaking. The chapter also scrutinizes the internalization of the new EU-inspired ideas of regionalism. The litmus tests were events in which the territorial and economic sovereignty of Indonesia was challenged, such as the disputes with Malaysia over maritime borders and the ASEAN-China Free Trade Area. The response to these events showed that most stakeholders except civil society threw overboard many of the liberal-cosmopolitan values associated with European regional integration. Last, the chapter examines whether this ideational reversal continued under the Jokowi government and suggests that the latter did not abruptly break with the foreign policy of his predecessor. Many of the seemingly new Jokowi policies had their roots in the second term of the Yudhoyono presidency.

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