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interdependence and global trade openness significantly promotes peace. It also suggests that the effect of trade openness varies … depending on the geographical proximity of countries. The peace-promotion effect of bilateral trade integration is significantly … only bilateral trade interdependence but also multilateral trade integration. The main finding of the peace …
Persistent link: https://www.econbiz.de/10010529705
Expanding trade with East Asia’s "Big Three" economic giants - the People's Republic of China (PRC), Japan, and the Republic of Korea - offers a new potential source of growth for ASEAN in the post-global-crisis period. In fact, ASEAN has been actively pursuing trade liberalization with the...
Persistent link: https://www.econbiz.de/10011281463
As East Asia becomes increasingly integrated through market-driven trade and FDI activities, free trade agreements (FTAs) are proliferating. Consolidation of multiple and overlapping FTAs into a single East Asian FTA can help mitigate the harmful noodle bowl effects of different or competing...
Persistent link: https://www.econbiz.de/10011281483
The paper argues that East Asian regionalism is fragile because (i) each nation's industrial competitiveness depends on the smooth functioning of "Factory Asia" - in particular for intraregional trade; (ii) the unilateral tariff-cutting that created Factory Asia is not subject to WTO discipline...
Persistent link: https://www.econbiz.de/10011281488
Many economists tend to be skeptical of the merits of Free-Trade Areas (FTAs) due to their second-best nature, while others support them under certain conditions, particularly as they allow for a more comprehensive treatment of trade- and investment-related issues than is currently possible...
Persistent link: https://www.econbiz.de/10011281501
Persistent link: https://www.econbiz.de/10009571324
This paper surveys recent literature on the design of international institutions and applies the insights from it to the prospects for regional economic cooperation in the Asia-Pacific. The political and economic heterogeneity of the region has served the process of regional economic...
Persistent link: https://www.econbiz.de/10011281461
When debating the pros and cons of economic regionalism, haven't we focused enough on trade in goods at the expense of services? This article argues that regionalism is certainly a building block, not a stumbling block to a multilateral trading system, using the services liberalization scheme of...
Persistent link: https://www.econbiz.de/10011281475
Bilateral and regional cooperation initiatives in Asia have been growing in importance over the last five years.These accords span the real and financial sectors; rather than following the more typical pattern of "trade first,money later", recent policy initiatives involve the simultaneous...
Persistent link: https://www.econbiz.de/10011281489
This paper reviews trends in East Asian regionalism in the areas of trade and investment, money and finance, and infrastructure. It presents various measures of trade and financial integration. An important finding of the paper is that increasing trade and financial integration in the region is...
Persistent link: https://www.econbiz.de/10011281500