Patterns of Shocks and Regional Monetary Cooperation in South Asia
IMF Working Papers, December 1, 2003
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Bibliographic details
- Authors: Nephil Matangi Maskay
- Published: December 1, 2003
- Series: IMF Working Papers
- DOI: https://doi.org/10.5089/9781451875812.001
Overview
- Author: Nephil Matangi Maskay
- Date: December 1, 2003
- Series: Working Paper No. 2003/240
- Issue: 240
- Volume: 2003
- Pages: 28
- DOI: https://doi.org/10.5089/9781451875812.001
- Stock No: WPIEA2402003
- ISBN: 9781451875812
- ISSN: 1018-5941
- Subjects: Currencies, Economic integration, Exchange rates, Foreign exchange, Inflation, Monetary unions, Money, Prices
- Keywords: Currencies, exchange rate, Exchange rates, India, Inflation, Monetary unions, regional monetary cooperation, SA region, SAARC home page, SAARC member country, SAARC member states, SAARC trade, SAARC website, shocks, South Asia, WP
Key findings and empirical patterns
- The member states of the South Asian Association for Regional Cooperation (SAARC) have set as a target the achievement of an economic union by 2020.
- Data from South Asia suggest that member states have minor trade linkages.
- Data from South Asia suggest that member states face asymmetrical patterns of shocks.
Conclusions and policy implications
- Reaching the economic union target will require greater levels of monetary cooperation.
- Absent a clear road map for monetary cooperation, the present process must be structured so as to be harmonized with the level of regional economic integration.
Summary statement from the paper
- The member states of the South Asian Association for Regional Cooperation have set as a target the achievement of an economic union by 2020. Reaching this goal will require greater levels of monetary cooperation. How should this be achieved? Data from South Asia suggest that member states have minor trade linkages and face asymmetrical patterns of shocks. This paper concludes that, absent a clear road map for monetary cooperation, the present process must be structured so as to be harmonized with the level of regional economic integration.
Source: IMF Working Paper "Patterns of Shocks and Regional Monetary Cooperation in South Asia" by Nephil Matangi Maskay, December 1, 2003.