IDEAS home Printed from
   My bibliography  Save this article

Linkages between Trade and Financial Integration and Output Growth in East Asia


  • Maria Socorro Gochoco-Bautista
  • Dennis S. Mapa


The effects of trade, financial and other variables generally seen as indicative of the degree of economic integration on movements in industrial production growth among countries in East Asia are assessed using the common component of movements in industrial production growth in the ASEAN 5 + 3 countries as a business cycle benchmark for the region. The results show the dominance of trade-related variables, as well as the world price of oil, in driving regional industrial production growth. Financial variables, while important, are not as robust. Copyright 2010 The Authors. Journal compilation 2010 East Asian Economic Association and Blackwell Publishing Ltd..

Suggested Citation

  • Maria Socorro Gochoco-Bautista & Dennis S. Mapa, 2010. "Linkages between Trade and Financial Integration and Output Growth in East Asia," Asian Economic Journal, East Asian Economic Association, vol. 24(1), pages 1-22, March.
  • Handle: RePEc:bla:asiaec:v:24:y:2010:i:1:p:1-22

    Download full text from publisher

    File URL:
    File Function: link to full text
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    1. Sulamaa, Pekka & Widgrén, Mika, 2005. "Asian Regionalism versus Global Free Trade: A Simulation Study on Economic Effects," Discussion Papers 985, The Research Institute of the Finnish Economy.
    2. Lee, Jong-Wha & Shin, Kwanho, 2006. "Does regionalism lead to more global trade integration in East Asia?," The North American Journal of Economics and Finance, Elsevier, vol. 17(3), pages 283-301, December.
    3. Jong-Wha Lee & Innwon Park & Kwanho Shin, 2008. "Proliferating Regional Trade Arrangements: Why and Whither?," The World Economy, Wiley Blackwell, vol. 31(12), pages 1525-1557, December.
    4. 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.
    5. 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.
    6. Tubagus Feridhanusetyawan, 2005. "Preferential Trade Agreements in the Asia-Pacific Region," IMF Working Papers 05/149, International Monetary Fund.
    7. Jong-Wha Lee & Innwon Park, 2005. "Free Trade Areas in East Asia: Discriminatory or Non-discriminatory?," The World Economy, Wiley Blackwell, vol. 28(1), pages 21-48, January.
    8. repec:kap:iaecre:v:9:y:2003:i:3:p:249-249 is not listed on IDEAS
    9. Baldwin, Richard, 1993. "A Domino Theory of Regionalism," CEPR Discussion Papers 857, C.E.P.R. Discussion Papers.
    10. Masaru Umemoto, 2003. "Hub and spoke integration and income convergence," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 9(3), pages 249-249, August.
    11. Peter Lloyd, 2002. "New Bilateralism in the Asia-Pacific," The World Economy, Wiley Blackwell, vol. 25(9), pages 1279-1296, September.
    12. Bhagwati, Jagdish & Greenaway, David & Panagariya, Arvind, 1998. "Trading Preferentially: Theory and Policy," Economic Journal, Royal Economic Society, vol. 108(449), pages 1128-1148, July.
    13. Warwick McKibbin & Jong-Wha Lee & Inkyo Cheong, 2004. "A dynamic analysis of the Korea-Japan free trade area: simulations with the G-cubed Asia-Pacific model," International Economic Journal, Taylor & Francis Journals, vol. 18(1), pages 3-32.
    14. McKibbin, W.J., 1997. "Regional and Multiregional Trade Liberalization: The Effects on Trade, Investment and Welfare," Papers 134, Brookings Institution - Working Papers.
    Full references (including those not matched with items on IDEAS)

    More about this item


    Access and download statistics


    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:asiaec:v:24:y:2010:i:1:p:1-22. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum). General contact details of provider: .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.