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Financial Policy Cooperation in SAARC: A First Step towards Greater Monetary Integration in South Asia

Author

Listed:
  • Amit Dasgupta

    (SAARC Secretariat, Kathmandu, Nepal)

  • Nephil Matangi Maskay

    (Research Department. Nepal Rastra Bank, Kathmandu, Nepal)

Abstract

As intra-SAARC trade increases, there is a growing need for higher levels of intra- SAARC financial policy cooperation to ensure a stable financial environment by limiting uncertainty for payments. This will facilitate the process of regional trade integration. The experience in Europe suggests that both cooperation in intra- SAARC regional monetary and liberalization policy along with the setting up of an institution to manage trade and payments could contribute towards laying the foundation for future financial coordination with eventual higher levels of mon etary integration within the SAARC region. The paper highlights some areas in this regard, and discusses some paths for greater financial cooperation in South Asia.

Suggested Citation

  • Amit Dasgupta & Nephil Matangi Maskay, 2003. "Financial Policy Cooperation in SAARC: A First Step towards Greater Monetary Integration in South Asia," South Asia Economic Journal, Institute of Policy Studies of Sri Lanka, vol. 4(1), pages 133-143, March.
    • Handle: RePEc:sae:soueco:v:4:y:2003:i:1:p:133-143
    DOI: 10.1177/139156140300400109
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    References listed on IDEAS

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    1. George S. Tavlas, 1993. "The ‘New’ Theory of Optimum Currency Areas," The World Economy, Wiley Blackwell, vol. 16(6), pages 663-685, November.
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    Cited by:

    1. Nephil Matangi Maskay, 2003. "Patterns of Shocks and Regional Monetary Cooperation in South Asia," IMF Working Papers 2003/240, International Monetary Fund.

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