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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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  8. Pissarides, Christopher A, 1997. "Learning by Trading and the Returns to Human Capital in Developing Countries," World Bank Economic Review, World Bank Group, vol. 11(1), pages 17-32, January.
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  12. Luc De Wulf & José B. Sokol, 2005. "Customs Modernization Handbook," World Bank Publications, The World Bank, number 7216.
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  15. Timothy J. Kehoe, 1992. "Modeling the dynamic impact of North American free trade," Working Papers 491, Federal Reserve Bank of Minneapolis.
  16. 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.
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