REGIONAL ECONOMIC INTEGRATION

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International trade is assumed to be an important ingredient of economic growth as it leads to development of all major sectors of any economy. But South Asian countries are fighting with trade deficits due to rapidly increasing imports coupled with insufficient exports resulting in huge deficit in balance of payments. Thus this book focuses on questions that why these countries are facing trade deficit and whether there is a positive role for trade pact to decrease this gap or not? Further, what is the reason that openness positively affects GDP of developed countries more than the developing countries? Furthermore, the role of SAARC in South Asian countries is also investigated in terms of the relationship between regional economic integration and economic growth before and after the implementation of SAARC by using the new heterogeneous panel cointegration technique. Moreover, analysis provides important policy implications and trade planning which are beneficial for regional trade and development.