Pardeep S. Chauhan

South Asian Economic Integration: Progress,problems and Prospects Pardeep S. Chauhan

This book discusses the pace of economic integration in the South Asia and throws light on regionalisation and its institutional, economic, financial and monetary dimensions. South Asian countries maintain a higher level of protection within the region than with the rest of the world. Restrictive policies neutralised the beneficial effects of common cultural affinity, common geography, and the 'gravitational' pull of proximity on movement of goods and people within the region. South Asia is the least integrated region in the world. The thesis of the present book is made on the argument that to achieve economic integration in Asia, successful integration of South Asia is very important. Many questions are raised in this book. Are there necessary preconditions for institutional integration? Is there an optimal sequencing of integration? How can the process best be supported by political initiatives? Does economic integration necessarily lead to financial and monetary integration? Is South Asia a case for common currency? What is the interaction between economic and institutional integration? Do regional initiatives assist or undermine global integration?