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The Impact of Unilateral and Regional Trade Liberalisation on the Intra-ASEAN 5 Founding Nations' Exports and Export-GDP Nexus

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Author Info
Jayanthakumaran, Kankesu () (University of Wollongong)
Sanidas, Elias () (University of Wollongong)

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Abstract

This paper is differentiated from most previous studies in that it uses intra-ASEAN's (of the 5 founding counties) historical data and it assesses both exports and the export-GDP nexus by isolating the following three different historical policy interventions: the introduction of Preferential Trade Agreement (PTA) in 1977, the unilateral liberalisation following the severe recession of the mid-1980s and the ASEAN Free Trade Area (AFTA) formation in 1992. Our findings indicate that the ASEAN-5 countries' economies are moving together through time and emerged as a powerful integrated area as a consequence of all of the above three interventions. Unilateral liberalisation and ASEAN regionalism are complementary with each other. The ASEAN's story is unique and relies on both outward orientation and positive aspects of regionalism.

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File URL: http://www.uow.edu.au/content/groups/public/@web/@commerce/@econ/documents/doc/uow012197.pdf
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Publisher Info
Paper provided by School of Economics, University of Wollongong, NSW, Australia in its series Economics Working Papers with number wp05-14.

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Length: 25 pages
Date of creation: 2005
Date of revision:
Handle: RePEc:uow:depec1:wp05-14

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Postal: School of Economics, University of Wollongong, Northfields Avenue, Wollongong NSW 2522 Australia
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Related research
Keywords: EASEAN-5; Exports; Export-GDP nexus; Trade Liberalisation; Intervention Time Series; Integration;

Other versions of this item:

Find related papers by JEL classification:
F15 - International Economics - - Trade - - - Economic Integration
F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
C4 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics
O4 - Economic Development, Technological Change, and Growth - - Economic Growth and Aggregate Productivity

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Jayanthakumaran, Kankesu, 2002. "The Impact of Trade Liberalisation on Manufacturing Sector Performance in Developing Countries: A Survey of the Literature," Economics Working Papers wp02-07, School of Economics, University of Wollongong, NSW, Australia. [Downloadable!]
  2. Simon J. Evenett & Wolfgang Keller, 2002. "On Theories Explaining the Success of the Gravity Equation," Journal of Political Economy, University of Chicago Press, vol. 110(2), pages 281-316, April. [Downloadable!] (restricted)
    Other versions:
  3. Dene T. Hurley, 2003. "Horizontal And Vertical Intra-Industry Trade: The Case Of Asean Trade In Manufactures," International Economic Journal, Korean International Economic Association, vol. 17(4), pages 1-14, December. [Downloadable!] (restricted)
  4. Sharma, Subhash C & Chua, Soo Y, 2000. "ASEAN: Economic Integration and Intra-regional Trade," Applied Economics Letters, Taylor and Francis Journals, vol. 7(3), pages 165-69, March. [Downloadable!] (restricted)
  5. Robert J. R. Elliott & Kengo Ikemoto, 2004. "AFTA and the Asian Crisis: Help or Hindrance to ASEAN Intra-Regional Trade?," Asian Economic Journal, East Asian Economic Association, vol. 18(1), pages 1-23, 03. [Downloadable!] (restricted)
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  6. Joshua J. Lewer & Hendrik Van den Berg, 2003. "How Large Is International Trade's Effect on Economic Growth?," Journal of Economic Surveys, Blackwell Publishing, vol. 17(3), pages 363-396, 07. [Downloadable!] (restricted)
  7. Ariff, Mohamed, 1994. "Open regionalism a la ASEAN," Journal of Asian Economics, Elsevier, vol. 5(1), pages 99-117. [Downloadable!] (restricted)
  8. Adams, F. Gerard & Park, I., 1995. "Measuring the impact of AFTA: An application of a linked CGE system," Journal of Policy Modeling, Elsevier, vol. 17(4), pages 325-365, August. [Downloadable!] (restricted)
  9. Baharumshah, Ahmad Zubaidi & Lau, Evan & Fountas, Stilianos, 2003. "On the sustainability of current account deficits: evidence from four ASEAN countries," Journal of Asian Economics, Elsevier, vol. 14(3), pages 465-487, June. [Downloadable!] (restricted)
  10. Zainal-Abidin Mahani, 2002. "ASEAN Integration: At Risk of Going in Different Directions," The World Economy, Blackwell Publishing, vol. 25(9), pages 1263-1277, 09. [Downloadable!] (restricted)
  11. Jayant Menon, 1998. "The Expansion of AFTA: Widening and Deepening?," Asian-Pacific Economic Literature, 2004 Asia Pacific School of Economics and Government, The Australian National University and Blackwell Publishing Asia Pty Ltd, vol. 12(2), pages 10-22, November. [Downloadable!] (restricted)
  12. Ahmad, Jaleel & Harnhirun, Somchai, 1995. "Unit roots and cointegration in estimating causality between exports and economic growth: Empirical evidence from the ASEAN countries," Economics Letters, Elsevier, vol. 49(3), pages 329-334, September. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Sanidas, Elias, 2006. "The Long Term Fate of Korea and Other “Small” Economies in East Asia: Economic Development, Integration Issues, and Political Power," Economics Working Papers wp06-24, School of Economics, University of Wollongong, NSW, Australia. [Downloadable!]
  2. Jayanthakumaran, Kankesu & Pahlavani, Mosayeb, 2006. "Structural Breaks in Trade and Income Per Capita in ASEAN-5 Countries: An Application of Innovational Outlier Models," Economics Working Papers wp06-12, School of Economics, University of Wollongong, NSW, Australia. [Downloadable!]
    Other versions:
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