Patterns of Shocks and Regional Monetary Cooperation in South Asia

Author/Editor:

Nephil Matangi Maskay

Publication Date:

December 1, 2003

Electronic Access:

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Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

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.

Series:

Working Paper No. 2003/240

Subject:

Currencies Economic integration Exchange rates Foreign exchange Inflation Monetary unions Money Prices

English

Publication Date:

December 1, 2003

ISBN/ISSN:

9781451875812/1018-5941

Stock No:

WPIEA2402003

Pages:

28

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