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Toward Win-Win Regionalism in Asia: Issues and Challenges in Forming Efficient Trade Agreements

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Author Info

  • Plummer, Michael G.

    ()
    (Johns Hopkins University SAIS–Bologna)

Abstract

Many economists tend to be skeptical of the merits of Free-Trade Areas (FTAs) due to their second-best nature, while others support them under certain conditions, particularly as they allow for a more comprehensive treatment of trade- and investment-related issues than is currently possible under the 149-member WTO. This paper endeavors to bridge this analytical chasm by developing a blueprint for “first-best“ regionalism based on “best practices.“ It then applies the associated set of rules to existing FTAs in Asia (both intra- and extra-regional) to guage the degree to which they approach best practices. In summary, we find that most accords receive high marks in most areas, with the exception of “rules of origin“ and certain service sectors.

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Bibliographic Info

Paper provided by Asian Development Bank in its series Working Papers on Regional Economic Integration with number 5.

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Length: 56 pages
Date of creation: 01 Oct 2006
Date of revision:
Handle: RePEc:ris:adbrei:0005

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Keywords: Asian integration; free trade agreement; best practices; Asian development;

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References

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  1. Lewis, Jeffrey D. & Robinson, Sherman & Wang, Zhi, 1995. "Beyond the Uruguay Round: The implications of an Asian free trade area," China Economic Review, Elsevier, vol. 6(1), pages 35-90.
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  5. Plummer, Michael G., 2006. "The ASEAN Economic Community and the European Experience," Working Papers on Regional Economic Integration 1, Asian Development Bank.
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  8. W. Hertel, Thomas, 2001. "Dynamic Effects of the “New Age” Free Trade Agreement between Japan and Singapore," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 16, pages 446-484.
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  11. Yinhua Mai & Philip Adams & Mingtai Fan & Ronglin Li & Zhaoyang Zheng, 2005. "Modelling the Potential Benefits of an Australia-China free Trade Agreement," Centre of Policy Studies/IMPACT Centre Working Papers g-153, Victoria University, Centre of Policy Studies/IMPACT Centre.
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  13. Timothy J. Kehoe, 1992. "Modeling the dynamic impact of North American free trade," Working Papers 491, Federal Reserve Bank of Minneapolis.
  14. Dollar, David, 1992. "Outward-Oriented Developing Economies Really Do Grow More Rapidly: Evidence from 95 LDCs, 1976-1985," Economic Development and Cultural Change, University of Chicago Press, vol. 40(3), pages 523-44, April.
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Cited by:
  1. Rigg, Robert & Schou-Zibell, Lotte, 2009. "The Financial Crisis and Money Markets in Emerging Asia," Working Papers on Regional Economic Integration 38, Asian Development Bank.
  2. McKibbin, Warwick J. & Chanthapun, Waranya Pim, 2009. "Exchange Rate Regimes in the Asia-Pacific Region and the Global Financial Crisis," Working Papers on Regional Economic Integration 36, Asian Development Bank.
  3. Madhur, Srinivasa & Wignaraja, Ganeshan & Darjes, Peter, 2009. "Roads for Asian Integration: Measuring ADB's Contribution to the Asian Highway Network," Working Papers on Regional Economic Integration 37, Asian Development Bank.
  4. Ramesh Chandra & Rajiv Kumar, 2008. "South Asian Integration Prospects and Lessons from East Asia," Indian Council for Research on International Economic Relations, New Delhi Working Papers 202, Indian Council for Research on International Economic Relations, New Delhi, India.
  5. Plummer, Michael G., 2006. "The ASEAN Economic Community and the European Experience," Working Papers on Regional Economic Integration 1, Asian Development Bank.
  6. Schou-Zibell, Lotte & Madhur, Srinivasa, 2010. "Regulatory Reforms for Improving the Business Environment in Selected Asian Economies - How Monitoring and Comparative Benchmarking Can Provide Incentive for Reform," Working Papers on Regional Economic Integration 40, Asian Development Bank.

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