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Comparing the Economic Impact of the Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership

Author

Listed:
  • Inkyo Cheong

    () (Department of Economics, Inha University, South Korea)

  • Jose Tongzon

    () (Graduate School of Logistics, Inha University, South Korea)

Abstract

Several initiatives have emerged for regional economic integration in the Asia-Pacific region. The United States has led the negotiations for the Trans-Pacific Partnership agreement, and ASEAN countries have recently started to promote the Regional Comprehensive Economic Partnership. This paper estimates the net economic impact of these initiatives by eliminating the overlapping portions of free trade agreement–related economic gains through the use of a dynamic computable general equilibrium model. The paper analyzes the economic and political feasibility of these two initiatives and assesses their economic impacts. Finally, the paper provides implications for economic integration in East Asia based on a quantitative assessment. © 2013 The Earth Institute at Columbia University and the Massachusetts Institute of Technology.

Suggested Citation

  • Inkyo Cheong & Jose Tongzon, 2013. "Comparing the Economic Impact of the Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership," Asian Economic Papers, MIT Press, vol. 12(2), pages 144-164, Summer.
  • Handle: RePEc:tpr:asiaec:v:12:y:2013:i:2:p:144-164
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    Citations

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    Cited by:

    1. Dmitry P. Novikov & Anastasia S. Pyatachkova, 2014. "Sino-American Rivalry In The Context Of Asia-Pacific Economic Regionalism," HSE Working papers WP BRP 09/IR/2014, National Research University Higher School of Economics.
    2. repec:spr:jecstr:v:7:y:2018:i:1:d:10.1186_s40008-017-0103-x is not listed on IDEAS
    3. Masahiro Kawai & Ganeshan Wignaraja, 2014. "Policy challenges posed by Asian free trade agreements: a review of the evidence," Chapters,in: A World Trade Organization for the 21st Century, chapter 8, pages 182-238 Edward Elgar Publishing.
    4. Kawai, Masahiro & Wignaraja, Ganeshan, 2014. "Trade Policy and Growth in Asia," ADBI Working Papers 495, Asian Development Bank Institute.
    5. Lee, Hiro & Itakura, Ken, 2018. "The welfare and sectoral adjustment effects of mega-regional trade agreements on ASEAN countries," Journal of Asian Economics, Elsevier, vol. 55(C), pages 20-32.
    6. Peter A. Petri & Michael G. Plummer, 2016. "The Economic Effects of the Trans-Pacific Partnership: New Estimates," Working Paper Series WP16-2, Peterson Institute for International Economics.
    7. Masahiro Kawai & Ganeshan Wignaraja, 2014. "Evolving trade policy architecture and FTAs in Asia," Chapters,in: New Global Economic Architecture, chapter 7, pages 148-171 Edward Elgar Publishing.
    8. Wignaraja, Ganeshan, 2014. "Assessing the Experience of South Asia–East Asia Integration and India’s Role," ADBI Working Papers 465, Asian Development Bank Institute.

    More about this item

    Keywords

    Trans-Pacific Partnership agreement; Regional Comprehensive Economic Partnership; free trade; economic integration; East Asia;

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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