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Regionalism as an Engine of Multilateralism: A Case for a Single East Asian FTA

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Author Info

  • Kawai, Masahiro

    ()
    (Asian Development Bank Institute)

  • Wignaraja, Ganeshan

    ()
    (Asian Development Bank)

Abstract

As East Asia becomes increasingly integrated through market-driven trade and FDI activities, free trade agreements (FTAs) are proliferating. Consolidation of multiple and overlapping FTAs into a single East Asian FTA can help mitigate the harmful noodle bowl effects of different or competing tariffs, standards, and rules. A region-wide FTA will also encourage participation of low-income countries and reduce trade-related business costs, particularly for small and medium enterprises. A computable general equilibrium (CGE) model examines the economic impact of various types of FTAs in East Asia (among ASEAN+1's, ASEAN+3, and ASEAN+6) finding that consolidation at the ASEAN+6 level would yield the largest gains to East Asia among plausible regional trade arrangements.

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Bibliographic Info

Paper provided by Asian Development Bank in its series Working Papers on Regional Economic Integration with number 14.

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Length: 40 pages
Date of creation: 01 Feb 2008
Date of revision:
Handle: RePEc:ris:adbrei:0014

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Keywords: Free Trade Agreement; ASEAN; multilateralism;

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References

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  1. Baldwin, Richard, 2006. "Multilateralising Regionalism: Spaghetti Bowls as Building Blocs on the Path to Global Free Trade," CEPR Discussion Papers 5775, C.E.P.R. Discussion Papers.
  2. Francois, Joseph F. & McQueen, Matthew & Wignaraja, Ganeshan, 2005. "European Union-developing country FTAs: overview and analysis," World Development, Elsevier, vol. 33(10), pages 1545-1565, October.
  3. Yusuf Shahid & M. Anjum Altaf & Kaoru Nabeshima, 2004. "Global Change and East Asian Policy Initiatives," World Bank Publications, The World Bank, number 14928.
  4. Prema-chandra Athukorala, 2003. "Product Fragmentation and Trade Patterns in East Asia," Departmental Working Papers 2003-21, The Australian National University, Arndt-Corden Department of Economics.
  5. Kyoji Fukao & Hikari Ishido & Keiko Ito, 2003. "Vertical Intra-Industry Trade and Foreign Direct Investment in East Asia," Discussion papers 03001, Research Institute of Economy, Trade and Industry (RIETI).
  6. Mohamed Hedi Bchir & Michel Fouquin, 2006. "Economic Integration in Asia: Bilateral Free Trade Agreements Versus Asian Single Market," Working Papers 2006-15, CEPII research center.
  7. Arvind Panagariya, 2004. "India in the 1980's and 1990's," IMF Working Papers 04/43, International Monetary Fund.
  8. O G Dayaratna Banda & John Whalley, 2005. "Beyond Goods and Services: Competition Policy, Investment, Mutual Recognition, Movement of Persons, and Broader Cooperation Provisions of Recent FTAs involving ASEAN Countries," NBER Working Papers 11232, National Bureau of Economic Research, Inc.
  9. Siow Yue Chia, 2007. "Whither East Asian Regionalism? An ASEAN Perspective," Asian Economic Papers, MIT Press, vol. 6(3), pages 1-36, October.
  10. Robert Scollay & John P. Gilbert, 2001. "New Regional Trading Arrangements in the Asia Pacific?," Peterson Institute Press: All Books, Peterson Institute for International Economics, number pa63.
  11. Shujiro Urata & Kozo Kiyota, 2003. "The Impacts of an East Asia FTA on Foreign Trade in East Asia," NBER Working Papers 10173, National Bureau of Economic Research, Inc.
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  13. Indermit Gill & Homi Kharas, 2007. "An East Asian Renaissance : Ideas for Economic Growth," World Bank Publications, The World Bank, number 6798.
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Cited by:
  1. Fithra Faisal Hastiadi, 2012. "The Determinants of China-Japan-Koreas Vertical Intra Industry Trade to ASEAN4 countries," Working Papers in Economics and Business 201205, Faculty of Economics, University of Indonesia, revised May 2012.
  2. Kalirajan, Kaliappa, 2012. "Regional Cooperation towards Green Asia: Trade and Investment," ADBI Working Papers 350, Asian Development Bank Institute.
  3. 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.
  4. Innwon Park & Soonchan Park, 2009. "Free Trade Agreements versus Customs Unions: An Examination of East Asia," Asian Economic Papers, MIT Press, vol. 8(2), pages 119-139, June.
  5. 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.
  6. Fithra Faisal Hastiadi, 2012. "China-Japan-Korea (CJK)'s FTA Strategy towards ASEAN Countries: A Game Theoretical Approach," Working Papers in Economics and Business 201210, Faculty of Economics, University of Indonesia, revised Oct 2012.
  7. 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.
  8. Yunling Zhang, 2010. "The Impact of Free Trade Agreements on Business Activity: A Survey of Firms in the People's Republic of China," Working Papers id:3015, eSocialSciences.
  9. Fithra Faisal Hastiadi Author_Email:, 2011. "East Asian Regionalism: The Way Forward," 2nd International Conference on Business and Economic Research (2nd ICBER 2011) Proceeding 2011-153, Conference Master Resources.
  10. Ikumo Isono & Satoru Kumagai & Fukunari Kimura, 2012. "Agglomeration and Dispersion in China and ASEAN: a Geographical Simulation Analysis," Working Papers DP-2012-02, Economic Research Institute for ASEAN and East Asia (ERIA).
  11. Park, Innwon & Park, Soonchan & Kim, Sangkyom, 2010. "A Free Trade Area of the Asia Pacific (FTAAP): Is It Desirable?," MPRA Paper 26680, University Library of Munich, Germany.
  12. 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.
  13. Medalla, Erlinda M. & Balboa, Jenny D., 2011. "Regional Economic Integration in East Asia: Progress and Pathways," Discussion Papers DP 2011-23, Philippine Institute for Development Studies.
  14. Yunling Zhang, 2010. "The Impact of Free Trade Agreements on Business Activity : A Survey of Firms in the People's Republic of China," Trade Working Papers 22721, East Asian Bureau of Economic Research.
  15. Kaliappa Kalirajan, 2012. "Regional Cooperation towards Green Asia: Trade in Low Carbon Goods and Services," CCEP Working Papers 1204, Centre for Climate Economics & Policy, Crawford School of Public Policy, The Australian National University.
  16. Fithra Faisal Hastiadi, 2011. "East Asian Regionalism: The Need For Asean+3 Fta," Journal of Global Business and Economics, Global Research Agency, vol. 3(1), pages 31-56, July.

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