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Is BRICS Economic Integration an Optimum Currency Area?

25 July 2019
12:30 - 14:00

Presenters: Ms Marida Nach & Prof. Ronney Ncwadi, Nelson Mandela University
Chair: Prof. Jaya Josie, HSRC

Date: 25 July 2019     
Time:  12:30 – 14:00
Venues: Video conference in Pretoria, Cape Town and Durban | Livestream via Vidyo

An optimum currency area (OCA) owes its definition first to (Mundell, 1961). Mundell (1961) defines an optimum currency area as an area for which the costs of relinquishing the exchange rate as an internal instrument of adjustments are outweighed by its benefits of adopting a single currency. Mundell (1961) emphasises two major benefits from adopting a single currency: the elimination of transaction costs and a better performance of money as a medium of exchange and as a unit of account. Using a Structural Vector Autoregression and Impulse Response econometric techniques the results show some limited degree of symmetry of shocks. Nevertheless, there is yet a need for more policy co-ordination in order to achieve the desired level of symmetry of shocks.

Kindly RSVP by 24 July 2019

Pretoria: HSRC Video Conference Room, 1st Floor HSRC Library, 134 Pretorius Street, Pretoria.
Contact Arlene Grossberg  | T: (012) 302 2811  | E:
Cape Town: HSRC Video Conference Room, Merchant House 116-118 Buitengracht Street, Cape Town.
Contact Shouneez Khan| T: (021) 466 7948 | E:
Durban: HSRC Video Conference Room, The Atrium, 5th Floor, 430 Peter Mokaba Ridge, Berea, 4001.
Contact Ridhwaan Khan  | T: (031) 242 5400  | C: 083 788 2786  | E:  or Wiseman Mbambo |  E:

The HSRC seminar series is funded by the Department of Science and Technology (DST). The views and opinions expressed therein as well as findings and statements of the seminar series do not necessarily represent the views of the DST

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