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Trade and Investment Policies and Regional Economic Integration in East Asia

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  • Siow Yue Chia

Abstract

The global economic crisis has affected the East Asian economies via trade and investment. The export-led model which had been responsible for the “East Asian Miracle†now must redirect the basis of growth from exports sent to the US and Europe to regional and domestic demand. Regional trade integration has been market-led through production networks and foreign direct investment (FDI). Since the proliferation of bilateral and plurilateral free trade agreements (FTA) and economic partnership agreements (EPA) has not resulted in an integrated regional market, it is important that East Asia seek an arrangement for a region-wide FTA/EPA. Currently, there are proposals for an ASEAN+3, an ASEAN+6, Pan-Asia, and Asia Pacific initiatives. While proponents of a region-wide FTA/EPA highlight its benefits, skeptics and critics point to the difficulties of reaching consensus in a region with widely varying political, economic, and social systems. Ultimately it will depend on a political-economic decision based on a cost-benefit analysis of liberalization, facilitation, and cooperation in a region-wide FTA. [ADBI Working Paper No. 210]

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  • Siow Yue Chia, 2010. "Trade and Investment Policies and Regional Economic Integration in East Asia," Working Papers id:2993, eSocialSciences.
    • Handle: RePEc:ess:wpaper:id:2993
    Note: Institutional Papers
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    Cited by:

    1. Shandre Mugan Thangavelu & Lili Yan Ing & Shujiro Urata, . "Services Productivity and Trade Openness: Case of ASEAN," Chapters, in: Lili Yan Ing (ed.), East Asian Integration (First Edition), chapter 7, pages 195-222, Economic Research Institute for ASEAN and East Asia (ERIA).
    2. Chirathivat, Suthiphand & Srisangnam, Piti, 2013. "The 2030 Architecture of Association of Southeast Asian Nations Free Trade Agreements," ADBI Working Papers 419, Asian Development Bank Institute.
    3. Hamanaka, Shintaro, 2012. "Evolutionary paths toward a region-wide economic agreement in Asia," Journal of Asian Economics, Elsevier, vol. 23(4), pages 383-394.
    4. Thangavelu, Shandre M. & Narjoko, Dionisius, 2014. "Human capital, FTAs and foreign direct investment flows into ASEAN," Journal of Asian Economics, Elsevier, vol. 35(C), pages 65-76.
    5. Shandre Mugan THANGAVELU, 2015. "FDI Restrictiveness Index for ASEAN: Implementation of AEC Blueprint Measures," Working Papers DP-2015-43, Economic Research Institute for ASEAN and East Asia (ERIA).

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    Keywords

    global; economic crisis; East Asian; political-economic; benefits;
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