Regional Institutions in Europe and Southeast Asia: Lessons for Economic Integration in South Asia
This working paper takes a look at the European Union (EU) and the Association of Southeast Asian Nations (ASEAN) as examples of regional institutions that were able to successfully foster economic growth and competitiveness. More specifically, the paper discusses the economic achievements of regional integration within the ASEAN and compares it with the EU. It offers lessons from the ASEAN integration that could help accelerate South Asian regional integration. It also examines the political and economic barriers hindering economic integration in South Asia, and emphasizes potential benefits regional integration and economic cooperation could bring to the South Asian Association for Regional Cooperation (SAARC) region. These include reduced economic dependence on developed countries, increased trade, and stronger economic growth in the SAARC region.
Author: Falendra Kumar Sudan
Tags: Regional Cooperation, Economic Cooperation, EU, ASEAN
Role of Regional Cooperation and Integration in Improving Energy Insecurity in South Asia
This working paper examines the literature on energy security in Asia. It gives an overview of resource constraints and the growth nexus in Asia, the scope for enhancing energy security, and the potential of regional cooperation to boost energy security. Wide disparity exists in energy security across the regions and between and within countries in Asia. With energy security critical to national security and access to natural resources, it is an important aspect of Asia’s long-term growth and development. This working paper puts forth that increasing regional cooperation can help improve access to energy among the energy-deficit developing countries in Asia, and benefit the region.It concludes that regional cooperation and integration promotes an interdependence network that ensures maximum use of renewable and non-renewable energy resources. This working paper also covers energy infrastructure development, investment needs, and potential sources of funding.
Author: Tapan Sarker, Shanawez Hossain, K. M. Nazmul Islam
Tags: Energy Security, Energy, Renewable Energy, Trade
Asian Development Outlook (ADO) 2020: What Drives Innovation in Asia?
Growth in developing Asia is forecast to slow to 2.2% in fiscal year (FY) 2020 due to the effects of the global health emergency. In South Asia, growth will decelerate to 4.1% in FY2020 and rebound to 6.0% in FY2021 following a projected revival in India. Bangladesh is projected to grow by 7.8% this fiscal year and 8.0% in FY2021. GDP growth in Bhutan, despite lower tourist arrivals, will accelerate on high government spending. Growth in Maldives and Sri Lanka will be constrained this year due to weaker tourism. In Nepal, the outlook is for moderating growth. In Southeast Asia, Myanmar growth is expected to slow in FY2020 and pick up in FY2021.
Author: Asian Development Bank
Tags: ADB, Bangladesh, Bhutan, India, Maldives, Myanmar, Nepal, Sri Lanka, Tourism, FDI