This paper estimates long-run effects of a collective exchange rate adjustment on multilateral exports from China, Japan, South Korea, and Taiwan. The findings show that a 1 percent generalized appreciation of all East Asian exchange rates would reduce East Asian exports by about 3 percent

This paper examines if exchange rate flexibility adversely affects trade integration of East Asian countries in general. The study focuses on China, Japan, South Korea and Taiwan. These countries pursue fixed, floating and intermediate regimes respectively. The hypothesis is that since the...

This paper shows that East Asian trade pattern exhibits a dynamic shift in the regional value chain. Several developing Asian economies including China notably gained comparative advantage in the production and exporting of medium-and-high technology products. Japan and the NIEs further deepened...