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The Regional Study of Towards Monetary co-operation in South Asia was undertaken by Dr. B.K. Madan in 1982 at the instance of the Committee on Studies for Co-operation in Development in South Asia (CSCD). The study was preceded by country studies conducted by scholars from countries cooperating in the project-Bangladesh, India. Maldives, Nepal, Pakistan and Sri Lanka. These studies were reviewed jointly by the authors meeting in conference for the purpose as well as for approving the outlines of the regional study. Monetary co-operation of which payments arrangements are often a core element, is itself an important constituent of economic co-operation, being designed to contribute to the common economic development of the cooperating group of countries.
The study starts with a birda??s eye-view of aspects of the economies of South Asian countries, their common features as well as divergent traits, traverses their trade patterns and trends with special reference to intra-regional trade, and approaches its main subject-matter with a quick survey of the framework of trade and paymnets arrangements and exchange and exchange-rate systems in the area. A focus of the study is on the functioning mechanism of monetary co-operation in the area, viz., the Asian Clearing Union, which has among its participating members all the countries cooperating in the CSCD project, with the exception of Maldives and the addition of Burma and Iran. The sutdy proceeds in the substantive concluding chapter to review the experience of monetary co-operation among other countries-developed as well as developing, and to explore possible lines of further monetary co-operation, by stages, among South Asian countries as a countribution to their economic development.
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Pages : 105
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