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East Asian Regional Trade Agreements: Do They Promote Global Free Trade?

  • Innwon Park

We quantitatively evaluate the effects different paths have on East Asian Regional Trade Agreements (RTA), which include expansionary, duplicate and overlapping RTAs. By applying a computable general equilibrium model analysis, we find that the static effect of existing, proposed and negotiating East Asian RTAs on world and members' welfare is sufficiently positive. It will lead to non-discriminatory global free trade, by triggering the domino effect of regionalism if the RTAs take an expansionary path by cooperating with each other, in contrast to competing to achieve the first mover advantage, or hub self-interest. Copyright 2006 Blackwell Publishing Ltd

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Article provided by Wiley Blackwell in its journal Pacific Economic Review.

Volume (Year): 11 (2006)
Issue (Month): 4 (December)
Pages: 547-568

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Handle: RePEc:bla:pacecr:v:11:y:2006:i:4:p:547-568
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  1. Peter J. Lloyd & Donald Maclaren, 2004. "Gains and Losses from Regional Trading Agreements: A Survey," The Economic Record, The Economic Society of Australia, vol. 80(251), pages 445-467, December.
  2. Dean A. DeRosa & John P. Gilbert, 2005. "Predicting Trade Expansion under FTAs and Multilateral Agreements," Working Paper Series WP05-13, Peterson Institute for International Economics.
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  8. 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, 01.
  9. McKibbin, W.J., 1997. "Regional and Multiregional Trade Liberalization: The Effects on Trade, Investment and Welfare," Papers 134, Brookings Institution - Working Papers.
  10. Luca De Benedictis & Roberta De Santis & Claudio Vicarelli, 2005. "Hub-and-Spoke or Else? Free Trade Agreements in the Enlarged EU - A Gravity Model Estimate," Economics Working Papers 037, European Network of Economic Policy Research Institutes.
  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.
  12. Kemp, Murray C. & Wan, Henry Jr., 1976. "An elementary proposition concerning the formation of customs unions," Journal of International Economics, Elsevier, vol. 6(1), pages 95-97, February.
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