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

Author

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  • Michael G. Plummer

    (Johns Hopkins University SAISâÂÂBologna)

Abstract

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 âÂÂfirst-bestâ regionalism based on âÂÂbest practices.â 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 âÂÂrules of originâ and certain service sectors.

Suggested Citation

  • Michael G. Plummer, 2006. "Toward Win-Win Regionalism in Asia: Issues and Challenges in Forming Efficient Trade Agreements," Working Papers on Regional Economic Integration 5, Asian Development Bank.
    • Handle: RePEc:ris:adbrei:0005
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    Cited by:

    1. Hideaki Hirata & M. Ayhan Kose & Chris Otrok, "undated". "Regionalization vs. Globalization," Working Paper 164456, Harvard University OpenScholar.
    2. Michael G. Plummer, 2014. "The emerging “post-Doha” agenda and the new regionalism," Chapters, in: Masahiro Kawai & Peter J. Morgan & Pradumna B. Rana (ed.), New Global Economic Architecture, chapter 8, pages 172-196, Edward Elgar Publishing.
    3. Robert Rigg & Lotte Schou-Zibell, 2009. "The Financial Crisis and Money Markets in Emerging Asia," Working Papers on Regional Economic Integration 38, Asian Development Bank.
    4. Michael G. Plummer & Reid W. Click, 2009. "The ASEAN Economic Community and the European Experience," Chapters, in: Koichi Hamada & Beate Reszat & Ulrich Volz (ed.), Towards Monetary and Financial Integration in East Asia, chapter 1, Edward Elgar Publishing.
    5. Warwick J. McKibbin & Waranya Pim Chanthapun, 2009. "Exchange Rate Regimes in the Asia-Pacific Region and the Global Financial Crisis," Working Papers on Regional Economic Integration 36, Asian Development Bank.
    6. Ramesh Chandra & Rajiv Kumar, 2010. "South Asian Integration: Prospects and Lessons from East Asia," Chapters, in: Masahiro Kawai & Jong-Wha Lee & Peter A. Petri & Giovanni Capanelli (ed.), Asian Regionalism in the World Economy, chapter 12, Edward Elgar Publishing.
    7. Okabe, Misa & Urata, Shujiro, 2014. "The impact of AFTA on intra-AFTA trade," Journal of Asian Economics, Elsevier, vol. 35(C), pages 12-31.
    8. Lotte Schou-Zibell & Srinivasa Madhur, 2010. "Regulatory Reforms for Improving the Business Environment in Selected Asian Economies - How Monitoring and Comparative Benchmarking Can Provide Incentive for Reform," Working Papers on Regional Economic Integration 40, Asian Development Bank.
    9. Woohyoung Kim, 2010. "A Study on the Feasibility of an FTAAP and Korea's Strategy," International Area Studies Review, Center for International Area Studies, Hankuk University of Foreign Studies, vol. 13(2), pages 281-302, June.
    10. Syed H. Shah & Muhammad A. Kamal & Da L. Yu, 2022. "Did China‐Pakistan free trade agreement promote trade and development in Pakistan?," International Journal of Finance & Economics, John Wiley & Sons, Ltd., vol. 27(3), pages 3459-3474, July.
    11. Srinivasa Madhur & Ganeshan Wignaraja & Peter Darjes, 2009. "Roads for Asian Integration: Measuring ADB's Contribution to the Asian Highway Network," Working Papers on Regional Economic Integration 37, Asian Development Bank.

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    More about this item

    Keywords

    Asian integration; free trade agreement; best practices; Asian development;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration

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