The Post-Crisis Sequencing of Economic Integration in Asia: Trade as a Complement to a Monetary Future
AbstractBilateral 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 implementation of trade and monetary/financial accords. Given this sequence, is there a case for monetary union in East Asia? Is there a case for expanded free-trade areas (FTAs) in the region? This paper argues that, at present, the post-sequencing of economic integration in Asia is developing such that trade agreements will ultimately complement the movement toward financial and monetary integration. While the political exigencies associated with monetary union pose serious challenges, it is argued that FTAs should help relax this constraint.
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Bibliographic InfoArticle provided by CEPII research center in its journal Economie Internationale.
Volume (Year): (2006)
Issue (Month): 107 ()
Economic integration; asian free-trade areas; monetary union; trade policy; regional integration; monetary block; international trade;
Other versions of this item:
- Plummer, Michael G. & Wignaraja, Ganeshan, 2007. "The Post-Crisis Sequencing of Economic Integration in Asia: Trade as a Complement to a Monetary Future," Working Papers on Regional Economic Integration 9, Asian Development Bank.
- Michael G. Plummer, 2007. "The Post-Crisis Sequencing of Economic Integration in Asia: Trade as a Complement to a Monetary Future," Working Paper Series 12-07, The Rimini Centre for Economic Analysis, revised Jul 2007.
- F1 - International Economics - - Trade
- O24 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy
- F10 - International Economics - - Trade - - - General
- F15 - International Economics - - Trade - - - Economic Integration
- F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
- F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
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