East Asian Exports in the Global Economic Crisis: The Decoupling Fallacy and Post-crisis Policy Challenges
AbstractThis paper examines the export experience of East Asian economies in the aftermaths of the global financial crisis against the backdrop of pre-crisis trade patterns. The analysis is motivated by the ‘decoupling’ thesis, the notion that the East Asian region has become a self-contained economic entity with potential for maintaining its own growth dynamism independent of the economic outlook for the traditional developed market economies. The findings suggests that the East Asian trade integration story that underpinned the decoupling thesis is simply a statistical artifact and that there is little room for the East Asian countries for an integrated policy response that marks a clear departure from the pre-crisis policy stance favoring export-oriented growth.
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Bibliographic InfoPaper provided by The Australian National University, Arndt-Corden Department of Economics in its series Departmental Working Papers with number 2009-13.
Length: 40 pages
Date of creation: 2009
Date of revision:
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East Asian trade; global economic crisis; decoupling thesis; China;
Find related papers by JEL classification:
- F01 - International Economics - - General - - - Global Outlook
- F14 - International Economics - - Trade - - - Empirical Studies of Trade
- O53 - Economic Development, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East
This paper has been announced in the following NEP Reports:
- NEP-ALL-2009-10-24 (All new papers)
- NEP-INT-2009-10-24 (International Trade)
- NEP-SEA-2009-10-24 (South East Asia)
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- Priscilla Liang & Thomas D. Willett & Nan Zhang, 2010. "The Slow Spread Of The Global Crisis," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 1(01), pages 33-58.
- Mia Mikic & Mochamad Pasha (ed.), 2011. "Fighting Irrelevance: The Role of Regional Trade Agreements in International Production Networks in Asia," STUDIES IN TRADE AND INVESTMENT, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), number tipub2597.
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