Institutions for Asian Integration : Innovation and Reform
AbstractThe formation of regional production networks in East Asia has occurred mainly through market forces, without much help from regional institutions in promoting the creation of a single Asian market. While this approach has served the region well in the past, the drastic changes experienced since the 2008â€“2009 financial crisis and the challenges Asian countries are facingâ€”growing inequalities and competition, on the one hand, and enhanced threats to the environment and peopleâ€™s health on the otherâ€”have rendered more urgent the need for intergovernmental cooperation at global and regional levels. Asiaâ€™s institutions for regionalism need strengthening through reform and innovation such as better governance and resourcing, greater and more effective participation and delegation of powers, overall streamlining of regional architecture, including the phasing out of outdated or irrelevant institutions and, where needed, the creation of new ones. Ultimately, given its rootedness in regional order, institutional efficacy is a function of the ability and willingness of its members, especially influential stakeholders, to collaborate.
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Bibliographic InfoPaper provided by East Asian Bureau of Economic Research in its series Macroeconomics Working Papers with number 23326.
Date of creation: Aug 2012
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Asian integration; regional institutions; Regionalism; Asian market; intergovernmental cooperation; regional production networks;
Find related papers by JEL classification:
- F15 - International Economics - - Trade - - - Economic Integration
- F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements
- F59 - International Economics - - International Relations, National Security, and International Political Economy - - - Other
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