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Patterns of Shocks and Regional Monetary Cooperation in South Asia

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  • Nephil Matangi Maskay

Abstract

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.

Suggested Citation

  • Nephil Matangi Maskay, 2003. "Patterns of Shocks and Regional Monetary Cooperation in South Asia," IMF Working Papers 2003/240, International Monetary Fund.
  • Handle: RePEc:imf:imfwpa:2003/240
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    Cited by:

    1. Sisira Jayasuriya & Nephil Matangi Maskay, 2010. "Enhancing Economic Integration In South Asia: Issues And Prospects For Closer Monetary Cooperation," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 55(01), pages 185-206.
    2. Md. Abdur Rahman Forhad, 2014. "How many currencies in Saarc countries? a multivariate structural var approach," Journal of Developing Areas, Tennessee State University, College of Business, vol. 48(4), pages 265-286, October-D.

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