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Welfare Gains from Regional Economic Integration in Asia : ASEAN+3 or EAS

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  • S.K. Mohanty

    (RIS)

  • Sanjib Pohit

Abstract

The experiences of Asian countries suggest that the region has substantial economic potentials and synergies between these countries and they can be better tapped with comprehensive economic cooperation. With this approach formation of an Asian Economic Community is not too far away from now. Next phase of liberalisation in Asia should focus on deep economic integration. Sitting on the driving seat, ASEANs economic interest should be given priority while taking a view on further regional economic liberalisation in Asia. The core issue is , which group of countries between ASEAN+3 and East Asian Summit (EAS) countries, would elicit maximum benefit to the region in general and ASEAN in particular? Using an Applied General Equilibrium (AGE) model in a monopolistic framework, the paper suggests that next Round of economic liberalisation should start with EAS.

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Bibliographic Info

Paper provided by East Asian Bureau of Economic Research in its series Macroeconomics Working Papers with number 22121.

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Date of creation: Jan 2007
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Handle: RePEc:eab:macroe:22121

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Postal: JG Crawford Building #13, Asia Pacific School of Economics and Government, Australian National University, ACT 0200
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Related research

Keywords: ASEAN; EAS; economic cooperation; Applied General Equilibrium model; economic integration;

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References

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  1. Steven Globerman & Daniel M Shapiro, 1999. "The Impact of Government Policies on Foreign Direct Investment: The Canadian Experience," Journal of International Business Studies, Palgrave Macmillan, Palgrave Macmillan, vol. 30(3), pages 513-532, September.
  2. Nagesh Kumar, 2005. "Towards a Broader Asian Community : Agenda for the East Asia Summit," Macroeconomics Working Papers, East Asian Bureau of Economic Research 22107, East Asian Bureau of Economic Research.
  3. Maurice Schiff & L. Alan Winters, 2003. "Regional Integration and Development," World Bank Publications, The World Bank, The World Bank, number 15172, February.
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Cited by:
  1. Wignaraja, Ganeshan, 2014. "Assessing the Experience of South Asia–East Asia Integration and India’s Role," ADBI Working Papers, Asian Development Bank Institute 465, Asian Development Bank Institute.
  2. ANDO Mitsuyo, 2009. "Impacts of FTAs in East Asia: CGE Simulation Analysis," Discussion papers, Research Institute of Economy, Trade and Industry (RIETI) 09037, Research Institute of Economy, Trade and Industry (RIETI).

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