Economics, Econometrics and Finance
4 years ago

South Asia's Trade Deals Could Reshape Regional Economies

IMF Working Paper
Safta: Living in a World of Regional Trade Agreements
José Daniel Rodríguez-Delgado

Paper Summary

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The paper evaluates the South Asia Free Trade Agreement (SAFTA) and its impact on regional trade flows. It uses a modified gravity equation to analyze the effects of the Trade Liberalization Program that began in 2006. SAFTA is found to have a minor effect on trade within the region, with manageable fiscal shocks for most members. Comparing potential regional trade agreements, SAFTA ranks lower in trade effects compared to agreements with NAFTA and the EU.