Tests of Income Convergence in ASEAN and SAARC Trading Blocs

South Asia Economic Journal Pub Date : 2019-09-01 DOI:10.1177/1391561419858239

U. Zia, Z. Mahmood

引用次数: 7

Abstract

The cherished goal of speedy economic growth in the Asian regional blocs cannot be achieved without attaining income convergence among them. Economic integration and assessment of income convergence or disparities among Asian blocs is the aim of this study. This study assesses a number of factors, such as trade openness, foreign direct investment, intellectual property rights protection and governance, to see how open economies are integrating themselves while competing with each other. Findings reveal that the SAARC group has not shown intra-regional income convergence, while the ASEAN group provides sufficient evidence. Although simultaneously considering SAARC and ASEAN groups in the form of a panel, there is evidence of non-convergence between the two regional groups. An important policy implication of the study is that the ASEAN and SAARC blocs are in dire need for combined and collective policy framework at the regional level. JEL: O19, O31, F15

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东盟和南盟贸易集团收入趋同的检验

如果不实现亚洲区域集团之间的收入趋同，亚洲区域集团经济迅速增长的宝贵目标就不可能实现。本研究的目的在于经济整合及评估亚洲各集团间的收入趋同或差距。这项研究评估了一系列因素，如贸易开放程度、外国直接投资、知识产权保护和治理，以了解开放经济体如何在相互竞争的同时实现自我整合。研究结果表明，南盟集团没有表现出区域内收入趋同，而东盟集团提供了充分的证据。虽然以一个小组的形式同时审议南盟和东盟集团，但有证据表明这两个区域集团之间没有趋同。该研究的一个重要政策含义是，东盟和南盟集团迫切需要区域一级的联合和集体政策框架。耶:19、31、15

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

South Asia Economic Journal Economics, Econometrics and Finance-Economics, Econometrics and Finance (all)

CiteScore

1.10

自引率

0.00%

发文量

期刊介绍： The South Asian nations have progressively liberalized their economies in recent years in an effort to integrate with the world economy. They have also taken steps to enhance multilateral and regional economic integration. Even though the South Asian economies have grown at an average rate of more than 5 per cent over the last few years, roughly 40 per cent of their people still live below the poverty line. Hence, the South Asian region continues to face many challenges of economic and social development. The South Asia Economic Journal (SAEJ) is designed as a forum for informed debate on these issues, which are of vital importance to the people of the region who comprise one-sixth of the world’s population. The peer-reviewed journal is devoted to economic analysis and policy options aimed at promoting cooperation among the countries comprising South Asia. It also discusses South Asia’s position on global economic issues, its relations with other regional groupings and its response to global developments. We also welcome contributions to inter-disciplinary analysis on South Asia. As a refereed journal, SAEJ carries articles by scholars, economic commentators,policy-makers and officials, from both the private and public sectors. Our aim is to create a vibrant research space to explore the multidimensional economic issues of concern to scholars working on South Asia. Among the issues debated in relation to South Asia are: - the implications of global economic trends; - the issues and challenges by WTO; - approaches to industrialization and development; - the role of regional institutions such as the SAARC; - the relationship between SAARC and other regional economic groupings such as ASEAN; - the implications of economic liberalization for trade and investment in the region; - new initiatives that can be launched to enhance economic cooperation among the South Asian countries both on a bilateral and a regional basis.