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Economic Implications of Deeper South Asian–Southeast Asian Integration: A CGE Approach

Author

Listed:
  • Peter Morgan

    (ADB Institute)

  • Michael G. Plummer

    (SAIS The Johns Hopkins University Via Belmeloro)

  • Ganeshan Wignaraja

    (Economic Research and Regional Cooperation Department)

  • Fan Zhai

    (Deptartment of Asset Allocation and Strategic Research Chinese Investment Corporation)

Abstract

Using a computable general equilibrium model, this paper estimates the potential gains from deepening integration across South Asia and Southeast Asia. If the two regions succeed in dropping inter-regional tariffs, reducing non-tariff barriers by 50 percent, and decreasing inter-regional trade costs by 15 percent—which the paper suggests are ambitious but nevertheless attainable—welfare in South Asia and Southeast Asia would rise by 8.9 percent and 6.4 percent of GDP, respectively, by 2030. Hence, we conclude that deepening South Asian regional cooperation together with building links to Southeast Asia would pay off rich dividends.

Suggested Citation

  • 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, vol. 14(3), pages 63-81, Fall.
    • Handle: RePEc:tpr:asiaec:v:14:y:2015:i:3:p:63-81
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    Cited by:

    1. Bhattacharyay, Biswa Nath & Mukhopadhyay, Kakali, 2015. "A comprehensive economic partnership between India and Japan: Impact, prospects and challenges," Journal of Asian Economics, Elsevier, vol. 39(C), pages 94-107.
    2. Durán Lima, José Elías & Aguiar, Angel & Ronzheimer, Ira, 2020. "Economic and social effects of a possible trade agreement between Latin America and Asia Pacific," Conference papers 333244, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    3. Aguiar, Angel & Durán Lima, José Elías & Ronzheimer, Ira Nadine, 2021. "Economic and social effects of a possible trade agreement between Latin America and the Asia-Pacific region," Comercio Internacional 47659, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    4. Euijune Kim & Seung‐Woon Moon & Yoojin Yi, 2021. "Analyzing spillover effects of development of Asian highway on regional growth of Northeast Asian countries," Review of Development Economics, Wiley Blackwell, vol. 25(3), pages 1243-1266, August.
    5. Ganeshan Wignaraja & Marco Gatti, 2024. "Filling Asia’s Infrastructure Investment Gap: The Role of Mega Infrastructure Initiatives," Journal of Asian Economic Integration, , vol. 6(2), pages 135-153, September.

    More about this item

    Keywords

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    JEL classification:

    • F5 - International Economics - - International Relations, National Security, and International Political Economy
    • E - Macroeconomics and Monetary Economics

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