Economic and Financial Integration in South Asia

This book analyses the current state and potential of economic and financial integration in South Asia, which has emerged as one of the most dynamic regions of the world. It looks at how regional convergences and cooperation would reinforce ties amongst the diverse economies of South Asia in the changing global economic landscape.

Drawing on empirical research, the book looks at the degree of economic and financial integration in South Asia, which according to the World Bank includes the least integrated regions in the world, and explores the fundamental factors that drive integration amongst these countries. It offers important insights into the financial landscape of the region, as well as the dynamics of the interlinkages in the banking system, the stock markets, and the debt markets. The book examines the role of bilateral trade in augmenting regional economic ties, the opportunities for growth these will foster, and the major challenges and roadblocks for the leaders of the region. It also provides an overview of China’s role in South Asia’s financial integration and the interdependence of these economies for economic opportunities, macroeconomic and financial stability, jobs, sustainable growth, and inclusive development.

Detailed and insightful, this book will be of great interest to investors and regional policymakers. It will also be of interest to researchers and students of economics, public and foreign policy, finance, international relations, and South Asia studies.

Sanjay Sehgal is currently a Professor of Finance and the Head of the Department of Financial Studies, University of Delhi, India. He has 29 years' teaching experience in the field of investment management, financial derivatives, corporate finance, and financial econometrics. He has taught courses in finance at LSE and ESC Pau, France, as well as delivered academic and research seminars at Vancouver Island University, Canada, the Universities of Nottingham and Leicester, and more. Prof. Sehgal has written a research book, completed eight major research projects, and published more than 150 research papers in international and national refereed journals.

Wasim Ahmad is currently working as an Assistant Professor and as PK Kelkar Faculty Fellow in the Department of Economic Sciences, Indian Institute of Technology Kanpur. His research areas are financial economics, macroeconomics, and applied econometrics. Dr. Ahmad has also been awarded the Subir Chowdhury Postdoctoral Fellowship awarded by the London School of Economics and Political Science for the period 2019–2020. He was the Co-Principal Investigator of the ICSSR, Govt. of India, sponsored major research project. Dr. Ahmad’s research work has appeared in the leading journals of economics and finance.

Piyush Pandey is an Assistant Professor in the area of Finance in Shailesh J. Mehta School of Management, IIT Bombay. His research and teaching interests include financial derivatives, investment management, market microstructure, and banking. He has published his research work in international peer-reviewed economics and finance journals. He is also actively involved in corporate consulting having consulted JLLSFG on a real estate finance project and a wealth management firm on profitable investment strategies. He has worked as a Research Assistant of the ICSSR, Govt. of India, sponsored major research project.

Sakshi Saini is an Assistant Professor at the Institute of Economic Growth, Delhi. She is pursuing a PhD in the Department of Financial Studies, University of Delhi. She has completed a Master's in Economics from Jawaharlal Nehru University and has worked as a Research Assistant of the ICSSR sponsored major research project. She has presented papers at many national and international conferences, and has published research articles in peer-reviewed journals. Her research interests are international finance, monetary economics, and applied econometrics.