Regional Trading Blocs: Will East Asia Be Next?
AbstractInterest in the possible emergence of an East Asian trading bloc is certainly warranted. However, in the absence of any well-developed theory of regional bloc formation, most economists have studied the question by examining aggregate trade statistics. We argue that these studies provide only a partial picture of the degree to which economic integration is taking place in East Asia. An analysis of capital flows (especially Foreign Direct Investment flows) is also required and the political economy of state action must be explicitly considered. We conclude that an East Asian trading bloc may be an attractive proposition to many countries in the region. We also point to potential obstacles in this process. (c) 1996 Academic Press Limited Copyright 1996 by Oxford University Press.
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Bibliographic InfoArticle provided by Oxford University Press in its journal Cambridge Journal of Economics.
Volume (Year): 20 (1996)
Issue (Month): 4 (July)
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- Baharumshah, Ahmad Zubaidi & Haw, Chan Tze & Fountas, Stilianos, 2005. "A panel study on real interest rate parity in East Asian countries: Pre- and post-liberalization era," Global Finance Journal, Elsevier, vol. 16(1), pages 69-85, August.
- Erinç Yeldan & Xinshen Diao, 1998. "Interface of Trade Liberalization, Accumulation and Growth in A World of Multi-Polar trade Blocs : Lessonsfrom a Multi-Regional Global General Equilibrium Model," Departmental Working Papers 9817, Bilkent University, Department of Economics.
- Kearney, Colm, 1999. "The Asian Financial Crisis," Quarterly Economic Commentary: Special Articles, Economic and Social Research Institute (ESRI), vol. 1999(1-Februar), pages 29-55.
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