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Economic co-operation in South Asia: The Dilemma of SAFTA and beyond

  • A. Ganesh Kumar

    ()

    (Indira Gandhi Institute of Devleopment Research)

  • Gordhan Kumar Saini

    ()

    (Indian Institute of Management, Ahmedabad)

Registered author(s):

    This paper attempts to evaluate the Pareto optimality of SAFTA for all the member states. Besides, the welfare optimality of three other alternative sets of coordinated trade policies that go beyond SAFTA has also been studied here. These include (a) extended preferential trading between SAFTA and three other major trading blocs (ASEAN, NAFTA and EU27), (b) coordinated full trade liberalisation (carried out unilaterally or as part of a multilateral agreement) by South Asian countries, and (c) SAFTA plus a customs union (two variants with 5 and 10 CET). The analysis, using the standard static GTAP model, shows that the welfare basis for establishing SAFTA or for deeper trade policy coordination is not very strong. Nor is it obvious that cooperation among the South Asia would be forthcoming given the anticipated welfare impacts.

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    File URL: http://www.igidr.ac.in/pdf/publication/WP-2007-017.pdf
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    Paper provided by Indira Gandhi Institute of Development Research, Mumbai, India in its series Indira Gandhi Institute of Development Research, Mumbai Working Papers with number 2007-017.

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    Length: 40 pages
    Date of creation: Oct 2007
    Date of revision:
    Handle: RePEc:ind:igiwpp:2007-017
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    1. Harry Flam, 1992. "Product Markets and 1992: Full Integration, Large Gains?," Journal of Economic Perspectives, American Economic Association, vol. 6(4), pages 7-30, Fall.
    2. M. Akhlaqur Rahman & Ayubur Rahman Bhuyan & Sadrel Reza, 1981. "The Trade Effects of a South Asian Customs Union. An Expository Study," The Pakistan Development Review, Pakistan Institute of Development Economics, vol. 20(1), pages 61-80.
    3. DeRosa, Dean A. & Govindan, Kumaresan, 1995. "Agriculture, trade and regionalism in South Asia," 2020 vision briefs 46, International Food Policy Research Institute (IFPRI).
    4. DeRosa, Dean A. & Govindan, Kumaresan, 1996. "Agriculture, trade, and regionalism in South Asia," Journal of Asian Economics, Elsevier, vol. 7(2), pages 293-315.
    5. DeRosa, Dean A. & Govindan, Kumaresan, 1995. "Agriculture, trade and regionalism in South Asia:," 2020 vision discussion papers 7, International Food Policy Research Institute (IFPRI).
    6. Baysan, Tercan & Panagariya, Arvind & Pitigala, Nihal, 2006. "Preferential trading in South Asia," Policy Research Working Paper Series 3813, The World Bank.
    7. Robinson, Sherman & Thierfelder, Karen, 2002. "Trade liberalisation and regional integration: the search for large numbers," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 46(4), December.
    8. Peter Drysdale, 1969. "Japan And Australia: The Prospect For Closer Economic Integration," Economic Papers, The Economic Society of Australia, vol. 1(30), pages 12-28, 02.
    9. Baldwin, Richard E. & Venables, Anthony J., 1995. "Regional economic integration," Handbook of International Economics, in: G. M. Grossman & K. Rogoff (ed.), Handbook of International Economics, edition 1, volume 3, chapter 31, pages 1597-1644 Elsevier.
    10. Jose Daniel Rodríguez-Delgado, 2007. "Safta; Living in a World of Regional Trade Agreements," IMF Working Papers 07/23, International Monetary Fund.
    11. Arvind Panagariya, 2000. "Preferential Trade Liberalization: The Traditional Theory and New Developments," Journal of Economic Literature, American Economic Association, vol. 38(2), pages 287-331, June.
    12. Jayatilleke S. Bandara & Wusheng Yu, 2003. "How Desirable is the South Asian Free Trade Area? A Quantitative Economic Assessment," The World Economy, Wiley Blackwell, vol. 26(9), pages 1293-1323, 09.
    13. Khan, Saleem M., 1999. "South Asian Association for Regional Cooperation1, 2, 3, 4," Journal of Asian Economics, Elsevier, vol. 10(3), pages 489-495.
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