Abstract
The CAREC Regional Integration index (CRII) maps the state of regional cooperation and integration on six socio-economic dimensions (with 26 constituent indicators) for each of the CAREC member countries and the region. CRII employs a panel-based data set for the construction of the index that includes data from the years 2006 to 2016. Two-stage Principal Component Analysis technique is employed to ascertain and apportion the weights for each of the indicators and dimensions for aggregation of a composite weighted index. PCA based Panel approach helps to gauge the dynamic behaviour of the drivers of regional cooperation and integration over the years, and track its evolution and assess the state of regional integration in each of the dimensions and overall index progress for policy analysis and targeted policy interventions. CRII exhibits a lower level of regional cooperation and integration (RCI) in the CAREC region. The low level of CRII is consistent with the Asia Pacific Regional Cooperation and Integration Index (ARCII) 2017 and 2018 editions’ findings.
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