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The sequential issue in free trade areas: Policy implication for Korea

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Author Info
Jong Eun Lee (Sejong University, South Korea)
Abstract

This paper addresses the sequential issue of countries entering into a Free Trade Area. Korea, China, Japan and the United States are the objects of investigation. Different sequences are ranked in terms of the present value of Korea's GDP using a computable general equilibrium model, and the sequence Korea-China-US-Japan was the best. Each sequence is evaluated from the perspective of globalization, which allows us to foresee both momentum and inertia of trade liberalization. The study will provide a deeper understanding of regionalism and globalization in the context of the regionalism versus multilateralism debate. Copyright © 2004 John Wiley & Sons, Ltd.

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File URL: http://hdl.handle.net/10.1002/ijfe.239
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Article provided by John Wiley & Sons, Ltd. in its journal International Journal of Finance & Economics.

Volume (Year): 9 (2004)
Issue (Month): 2 ()
Pages: 165-174
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Handle: RePEc:ijf:ijfiec:v:9:y:2004:i:2:p:165-174

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  1. Walmsley, Terrie, 1998. "Long Run Simulations With GTAP: Illustrative Results from APEC Trade Liberalisation," GTAP Technical Papers 312, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University. [Downloadable!]
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  2. Chong-Hyun Nam & Chang-Jin Kim, 2000. "Capital Accumulation And Trade Policy: The Case Of Korea," International Economic Journal, Korean International Economic Association, vol. 14(1), pages 111-131, April. [Downloadable!] (restricted)
  3. Andriamananjara, Soamiely, 1999. "On the size and number of regional integration arrangements - a political economy model," Policy Research Working Paper Series 2117, The World Bank. [Downloadable!]
  4. Sang-Seung, Yi, 1996. "Endogenous formation of customs unions under imperfect competition: open regionalism is good," Journal of International Economics, Elsevier, vol. 41(1-2), pages 153-177, August. [Downloadable!] (restricted)
  5. Furusawa, Taiji & Lai, Edwin L. -C., 1999. "Adjustment costs and gradual trade liberalization," Journal of International Economics, Elsevier, vol. 49(2), pages 333-361, December. [Downloadable!] (restricted)
  6. Panagariya, Arvind & Findlay, Ronald & DEC, 1994. "A political - economy analysis of free trade areas and customs unions," Policy Research Working Paper Series 1261, The World Bank. [Downloadable!]
  7. 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. [Downloadable!]
  8. Pravin Krishna, 1998. "Regionalism And Multilateralism: A Political Economy Approach," The Quarterly Journal of Economics, MIT Press, vol. 113(1), pages 227-250, February. [Downloadable!] (restricted)
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  9. Francois, Joseph & Bradley McDonald, 1996. "Liberalization and Capital Accumulation in the GTAP Model," GTAP Technical Papers 310, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University. [Downloadable!]
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