Abstract
Regionalism has become one of the most debated issues on international trade. Under the umbrella of GATT article XXIV, many countries across the globe are rushing themselves into the formation of regional economic integration. Despite the strong favouritism of multilateral trading by WTO, many of such regional economic arrangements have mushroomed. The present paper deals with successive India-ASEAN agreements and their impact on bilateral trade openness and deepening in many sections using Granger Causality test. Our results show that institutional integration has brought about many positive changes in the socio-economic conditions of member countries.
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