East Asian Economic Integration and its Impact on Future Growth
AbstractTwo propositions appear to be gaining wide currency, given the revealed preference for preferential trade agreements (PTAs) in the East Asian region and elsewhere. The first is that economic integration is a good way to promote economic growth. The second is that PTAs, particularly ones that go beyond goods trade, are an effective way to promote economic integration. Yet both propositions are empirical questions. In this paper, a partial evaluation of the evidence suggests caution is called for. Current PTAs appear to be doing little to remove the important impediments to growth in the region. Far greater income gains would come from comprehensive reform of nondiscriminatory impediments to competition, as part of a thorough-going program of unilateral domestic regulatory reform. It may be time to rethink East Asian economic integration as a policy priority, or at least review the way in which it might be pursued.
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Bibliographic InfoPaper provided by East Asian Bureau of Economic Research in its series Development Economics Working Papers with number 21988.
Date of creation: Jan 2005
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East Asia; economic integration; trade; Growth;
Other versions of this item:
- Philippa Dee, 2007. "East Asian Economic Integration and its Impact on Future Growth," The World Economy, Wiley Blackwell, vol. 30(3), pages 405-423, 03.
- Philippa Dee, 2005. "East Asian Economic Integration and its Impact on Future Growth," Asia Pacific Economic Papers 350, Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University.
- F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
- F15 - International Economics - - Trade - - - Economic Integration
- O24 - Economic Development, Technological Change, and Growth - - Development Planning and Policy - - - Trade Policy; Factor Movement; Foreign Exchange Policy
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