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Regional integration in Asia and its effects on the EU and North America

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  • Lee, Hiro
  • Owen, Robert F.
  • van der Mensbrugghe, Dominique
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    Abstract

    Consequences of free-trade agreements (FTAs) among the ASEAN+3 and ASEAN+6 countries are explored using a dynamic computable general equilibrium (CGE) model. Quantitative assessments of intra- and extra-regional effects on welfare, trade and output are offered. When both trade facilitation and endogenously determined productivity are included in the FTA scenarios, Singapore, other ASEAN countries and China would be able to realize relatively large welfare gains, while the welfare effects on the EU and North America are negligible. The trade and output effects on the latter two regions are also relatively small, with the notable exception of crops, other than rice, in North America.

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    Bibliographic Info

    Article provided by Elsevier in its journal Journal of Asian Economics.

    Volume (Year): 20 (2009)
    Issue (Month): 3 (May)
    Pages: 240-254

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    Handle: RePEc:eee:asieco:v:20:y:2009:i:3:p:240-254

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    Web page: http://www.elsevier.com/locate/asieco

    Related research

    Keywords: Regional integration Free-trade agreement Asia CGE model;

    References

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    1. Philippa Dee, 2005. "East Asian Economic Integration and its Impact on Future Growth," Development Economics Working Papers 21988, East Asian Bureau of Economic Research.
    2. Mitsuyo Ando & Fukunari Kimura, 2005. "The Formation of International Production and Distribution Networks in East Asia," NBER Chapters, in: International Trade in East Asia, NBER-East Asia Seminar on Economics, Volume 14, pages 177-216 National Bureau of Economic Research, Inc.
    3. Keuschnigg, Christian & Kohler, Wilhelm K., 1998. "Eastern Enlargement of the EU: How much is it Worth for Austria?," CEPR Discussion Papers 1786, C.E.P.R. Discussion Papers.
    4. Fukunari KIMURA, 2006. "International Production and Distribution Networks in East Asia: Eighteen Facts, Mechanics, and Policy Implications," Asian Economic Policy Review, Japan Center for Economic Research, vol. 1(2), pages 326-344.
    5. Ianchovichina, Elena & Robert McDougall, 2000. "Theoretical Structure of Dynamic GTAP," GTAP Technical Papers 480, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University.
    6. Lee, Hiro & van der Mensbrugghe, Dominique, 2004. "EU enlargement and its impacts on East Asia," Journal of Asian Economics, Elsevier, vol. 14(6), pages 843-860, January.
    7. Sanghamitra Das & Mark J. Roberts & James R. Tybout, 2001. "Market Entry Costs, Producer Heterogeneity, and Export Dynamics," NBER Working Papers 8629, National Bureau of Economic Research, Inc.
    8. Jean, Sébastien & Guérin, Jean-Louis & Decreux, Yvan & Bchir, Mohamed Hedi, 2002. "MIRAGE, a Computable General Equilibrium Model for Trade Policy Analysis," Economics Papers from University Paris Dauphine 123456789/6497, Paris Dauphine University.
    9. Lluch, Constantino, 1973. "The extended linear expenditure system," European Economic Review, Elsevier, vol. 4(1), pages 21-32, April.
    10. Innwon Park, 2006. "East Asian Regional Trade Agreements: Do They Promote Global Free Trade?," Pacific Economic Review, Wiley Blackwell, vol. 11(4), pages 547-568, December.
    11. Michael G. Plummer, 2007. "'Best Practices' in Regional Trading Agreements: An Application to Asia," The World Economy, Wiley Blackwell, vol. 30(12), pages 1771-1796, December.
    12. Brown, Drusilla K., 1987. "Tariffs, the terms of trade, and national product differentiation," Journal of Policy Modeling, Elsevier, vol. 9(3), pages 503-526.
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    Citations

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    Cited by:
    1. Ken Itakura & Hiro Lee, 2012. "Welfare Changes and Sectoral Adjustments of Asia-Pacific Countries under Alternative Sequencings of Free Trade Agreements," OSIPP Discussion Paper 12E005, Osaka School of International Public Policy, Osaka University.
    2. Yu Sheng & Xunpeng Shi, . "Energy Market Integration and Economic Convergence: Implications for East Asia," Chapters, Economic Research Institute for ASEAN and East Asia (ERIA).
    3. Kawai, Masahiro & Wignaraja, Ganeshan, 2011. "Asian FTAs: Trends, prospects and challenges," Journal of Asian Economics, Elsevier, vol. 22(1), pages 1-22, February.
    4. Noland, Marcus, 2009. "United States Economic Policy Toward Asia," MPRA Paper 15572, University Library of Munich, Germany.

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