SADC and the Global Economic Crisis Origins, Impacts and State Policy Responses

Abstract

The global economic crisis has seen global growth plummet to its lowest rate in 60 years against the backdrop of falling demand, declining manufacturing and industrial output, trade credit fi nancing problems and plunging consumer confi dence. The article argues that despite initial suggestions that the African continent, including the SADC region, would be insulated from the worst effects of the global economic crisis, the secondary, real economy impact of the crisis has been felt across the SADC countries. The article shows that the crisis has hit key drivers of growth, particularly trade and capital infl ows, across the region and has been felt principally through the SADC countries’ external accounts, trade balances, as well as access to capital fl ows and