SANEI: Ongoing Studies

Monetary Cooperation in South Asia

Closer monetary policy cooperation, including common currency areas, is receiving much attention in many parts of Asia, particularly after the 1997 crisis. This issue has been recognized as important in various SAARC for a, and even the possibility of a common currency – the most stringent form of monetary cooperation – has been mooted. This project will build on and extend the available analytical work on SAARC monetary cooperation and assess the economic benefits of various monetary policy cooperation options among different country groupings, with close attention to the political and institutional contexts. It will also make a beginning in addressing the implications of alternative monetary cooperation choices (including alternative exchange rate choices) in South Asia

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