Questing Business Cycle Synchronization among South Asia in Pre and Post SAARC Establishment: An Empirical Investigation

Abstract

For last few decades, regional integration has been increased among several countries. Like other blocs Asian countries also made regional bloc in order to establish economic integration. This study is an attempt to empirically investigate the impacts of business cycle synchronization among South Asia in pre and post SAARC establishment. Panel data set of SAARC countries from 1960 to 2019 has been utilized using structural VAR technique. On the basis of these results it is concluded that Business Cycles across SAARC countries are not synchronous. Inter-regional and intra-regional trade requires to be strengthened among member countries in addition to integration related factors.