Is Macroeconomic Policy Convergence Necessary for a Sustainable SADC Free Trade Area?
"The aim of this paper is to determine if macroeconomic policy convergence among member countries of the Southern African Development Community (SADC) is required for establishing and sustaining a free trade area (FTA). The paper also investigates whether a restraining mechanism is required in order to compel member countries to have compatible macroeconomic policies. The history of regional free trade areas in Sub-Saharan Africa is that most of them have either failed, or have stayed in existence on paper with very little actual progress towards their objectives. In light of the limited success of regional free trade areas, why do African countries keep trying to establish regional free trade areas?"