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

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  • 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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    References listed on IDEAS

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    Cited by:

    1. repec:spr:jecstr:v:7:y:2018:i:1:d:10.1186_s40008-017-0103-x is not listed on IDEAS
    2. 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.
    3. 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.
    4. Wignaraja, Ganeshan, 2014. "Assessing the Experience of South Asia–East Asia Integration and India’s Role," ADBI Working Papers 465, Asian Development Bank Institute.
    5. Peter Morgan & Michael G. Plummer & Ganeshan Wignaraja & Fan Zhai, 2015. "Economic Implications of Deeper South Asian–Southeast Asian Integration: A CGE Approach," Asian Economic Papers, MIT Press, pages 63-81.
    6. Hiro Lee & Ken Itakura, 2017. "The Welfare and Sectoral Adjustment Effects of Mega-Regional Trade Agreements on ASEAN Countries," OSIPP Discussion Paper 17E006, Osaka School of International Public Policy, Osaka University.
    7. 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.

    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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