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Toward Win-Win Regionalism in Asia: Issues and Challenges in Forming Efficient Trade Agreements

  • Plummer, Michael G.

    ()

    (Johns Hopkins University SAIS–Bologna)

Many economists tend to be skeptical of the merits of Free-Trade Areas (FTAs) due to their second-best nature, while others support them under certain conditions, particularly as they allow for a more comprehensive treatment of trade- and investment-related issues than is currently possible under the 149-member WTO. This paper endeavors to bridge this analytical chasm by developing a blueprint for “first-best“ regionalism based on “best practices.“ It then applies the associated set of rules to existing FTAs in Asia (both intra- and extra-regional) to guage the degree to which they approach best practices. In summary, we find that most accords receive high marks in most areas, with the exception of “rules of origin“ and certain service sectors.

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Paper provided by Asian Development Bank in its series Working Papers on Regional Economic Integration with number 5.

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Length: 56 pages
Date of creation: 01 Oct 2006
Date of revision:
Handle: RePEc:ris:adbrei:0005
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  1. Robert Scollay & John P. Gilbert, 2001. "New Regional Trading Arrangements in the Asia Pacific?," Peterson Institute Press: All Books, Peterson Institute for International Economics, number pa63, May.
  2. W. Hertel, Thomas, 2001. "Dynamic Effects of the “New Age” Free Trade Agreement between Japan and Singapore," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 16, pages 446-484.
  3. Dollar, David, 1992. "Outward-Oriented Developing Economies Really Do Grow More Rapidly: Evidence from 95 LDCs, 1976-1985," Economic Development and Cultural Change, University of Chicago Press, vol. 40(3), pages 523-44, April.
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  8. Yinhua Mai & Philip Adams & Mingtai Fan & Ronglin Li & Zhaoyang Zheng, 2005. "Modelling the Potential Benefits of an Australia-China free Trade Agreement," Centre of Policy Studies/IMPACT Centre Working Papers g-153, Victoria University, Centre of Policy Studies/IMPACT Centre.
  9. Nathaniel Landingin & David Wadley, 2005. "Export processing zones and growth triangle development: the case of the BIMP-EAGA, Southeast Asia," Journal of International Development, John Wiley & Sons, Ltd., vol. 17(1), pages 67-96.
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  11. Berglas, Eitan, 1979. "Preferential Trading Theory: The n Commodity Case," Journal of Political Economy, University of Chicago Press, vol. 87(2), pages 315-31, April.
  12. Lewis, Jeffrey D. & Robinson, Sherman & Zhi Wang, 1995. "Beyond the Uruguay Round : the implications of an Asian free trade area," Policy Research Working Paper Series 1467, The World Bank.
  13. Luc De Wulf & José B. Sokol, 2005. "Customs Modernization Handbook," World Bank Publications, The World Bank, number 7216, October.
  14. Kawai, Masahiro, 2005. "East Asian economic regionalism: progress and challenges," Journal of Asian Economics, Elsevier, vol. 16(1), pages 29-55, February.
  15. Timothy J. Kehoe, 1992. "Modeling the dynamic impact of North American free trade," Working Papers 491, Federal Reserve Bank of Minneapolis.
  16. Gene M. Grossman & Elhanan Helpman, 1993. "Innovation and Growth in the Global Economy," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262570971, June.
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