Assessing the Experience of South Asia–East Asia Integration and India’s Role

Ganeshan Wignaraja

No 465, ADBI Working Papers from Asian Development Bank Institute

Abstract: This paper examines the gains for South Asian economies from integrating with East Asia and India’s role in this process. Evidence of increased pan-Asian integration exists but the process is uneven. Bilateral trade has grown. As have bilateral foreign direct investment flows and free trade agreements (FTAs), albeit at a slower pace than trade. The integration process has been led by India and Pakistan with limited participation of smaller South Asian economies. Tackling key impediments in cross-border infrastructure, FTAs, trade barriers and business regulations, and barriers to services will foster further integration. Computable general equilibrium (CGE) simulations suggest that a South Asia–East Asia FTA offers the most gains for South Asia and that India has an incentive to include its neighbors in such an arrangement rather than going it alone with East Asia. The rest of South Asia will gain by deepening South Asian integration and fostering ties with East Asia.

Keywords: pan-asian economic integration; south asia-east asia trade; infrastructure; reforms; free trade agreements (search for similar items in EconPapers)
JEL-codes: F15 F17 O14 O24 O53 (search for similar items in EconPapers)
Pages: 30 pages
Date: 2014-02-25
New Economics Papers: this item is included in nep-cmp, nep-int and nep-sea
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