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

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  • 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.

Suggested Citation

  • Jong Eun Lee, 2004. "The sequential issue in free trade areas: Policy implication for Korea," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 9(2), pages 165-174.
    • Handle: RePEc:ijf:ijfiec:v:9:y:2004:i:2:p:165-174
    DOI: 10.1002/ijfe.239
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