A Performance Analysis of European Union Integration: The Prospects and Lessons for South Asia

Authors

  • Rukhsana Rasheed The Govt. Sadiq College Women University, Bahawalpur, Pakistan
  • Mazhr Nadeem The Islamia University of Bahawalpur, Pakistan
  • Muhammad Imran The Islamia University of Bahawalpur, Pakistan

DOI:

https://doi.org/10.52131/joe.2022.0401.0061

Keywords:

European Union, EU Trading Bloc, South Asian Trading Bloc, EU Performance

Abstract

This study captured the performance analysis of European Union (EU) member countries integration and its possible implications for South Asian countries. The primary purpose of this study was to see whether trading/economic bloc of EU has enhanced the performance of its members. The study also analyzed whether the European Union's commercial bloc model can be proposed for other global regions. The data was collected from official sources of EU and it ranged from 2000 to 2021. Descriptive and inferential statistical methods have been applied for data analysis. The results showed that the EU trading groups have not only increased production but also increased the exports and welfare of the entire region of EU. On the basis of findings of this study, it may be suggested that South Asian countries (Sri Lanka, Pakistan, Bhutan, Nepal, Afghanistan, Bangladesh, India and Maldives) needs to construct a South Asian Trading Bloc, rather than SAARC, in order to boost the regional performance and well-being of concerned community.

Author Biographies

Rukhsana Rasheed, The Govt. Sadiq College Women University, Bahawalpur, Pakistan

Department of Management Sciences

Mazhr Nadeem, The Islamia University of Bahawalpur, Pakistan

Department of Economics

Muhammad Imran, The Islamia University of Bahawalpur, Pakistan

Department of Economics

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Published

2022-03-20

How to Cite

Rasheed, R., Nadeem, M., & Imran, M. (2022). A Performance Analysis of European Union Integration: The Prospects and Lessons for South Asia. IRASD Journal of Economics, 4(1), 69–77. https://doi.org/10.52131/joe.2022.0401.0061

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Section

Articles