THE DILEMMA OF "INSTITUTIONAL HOLLOWING-OUT" IN REGIONAL ECONOMIC INTEGRATION: A COMPARATIVE INSTITUTIONAL ANALYSIS OF SAARC AND PEER ORGANIZATIONS

The study explores the lack of structural integrity of the South Asian Association for Regional Cooperation (SAARC) through the comparative analysis of a document of the most significant legislative and functional frameworks over 1985-2024. The research reviews the guiding documents including the SAARC Charter and SAFTA Agreement, when compared to the Charter of ASEAN and its Economic Community Blueprint and the treaties and institutional policies of the European Union. The analysis of the concept of hollowing-out of institutions can demonstrate the gap that exists between formal institutional mechanisms of the SAARC organization and their practical work. The results indicate that the institutional framework of SAARC is scarce in terms of enforcement mechanism, operational capacity as well as fragmented governance. Conversely, ASEAN has been exhibiting an evolutionary institutionalization, whereas the EU bears witness to an institutionalized stage of political and functional integration. Suggestions made are legal change, increased secretariat independence and reduced political involvement in regional cooperation.