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

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Listed author(s):
  • Plummer, Michael G.

    ()

    (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.

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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
Handle: RePEc:ris:adbrei:0005
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Keywords: Asian integration; free trade agreement; best practices; Asian development;

Find related papers by JEL classification:

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

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  1. Timothy J. Kehoe, 1992. "Modeling the dynamic impact of North American free trade," Working Papers 491, Federal Reserve Bank of Minneapolis.
  2. Lewis, Jeffrey D. & Robinson, Sherman & Wang, Zhi, 1995. "Beyond the Uruguay Round: The implications of an Asian free trade area," China Economic Review, Elsevier, vol. 6(1), pages 35-90.
  3. Baldwin, Richard & Seghezza, Elena, 1996. "Trade-induced Investment-led Growth," CEPR Discussion Papers 1420, C.E.P.R. Discussion Papers.
  4. Michael G. Plummer & Reid W. Click, 2009. "The ASEAN Economic Community and the European Experience," Chapters,in: Towards Monetary and Financial Integration in East Asia, chapter 1 Edward Elgar Publishing.
  5. Robert Scollay & John P. Gilbert, 2001. "New Regional Trading Arrangements in the Asia Pacific?," Peterson Institute Press: Policy Analyses in International Economics, Peterson Institute for International Economics, number pa63.
  6. 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.
  7. 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, July.
  8. Kawai, Masahiro, 2005. "East Asian economic regionalism: progress and challenges," Journal of Asian Economics, Elsevier, vol. 16(1), pages 29-55, February.
  9. Patrick A. Messerlin, 2001. "Measuring the Costs of Protection in Europe: European Commercial Policy in the 2000s," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 102, November.
  10. 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.
  11. Berglas, Eitan, 1979. "Preferential Trading Theory: The n Commodity Case," Journal of Political Economy, University of Chicago Press, vol. 87(2), pages 315-331, April.
  12. Luc De Wulf & José B. Sokol, 2005. "Customs Modernization Handbook," World Bank Publications, The World Bank, number 7216, September.
  13. 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.
  14. Kemp, Murray C. & Wan, Henry Jr., 1976. "An elementary proposition concerning the formation of customs unions," Journal of International Economics, Elsevier, vol. 6(1), pages 95-97, February.
  15. 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 523-544, April.
  16. 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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Cited by:

  1. Michael G. Plummer & Reid W. Click, 2009. "The ASEAN Economic Community and the European Experience," Chapters,in: Towards Monetary and Financial Integration in East Asia, chapter 1 Edward Elgar Publishing.
  2. Madhur, Srinivasa & Wignaraja, Ganeshan & Darjes, Peter, 2009. "Roads for Asian Integration: Measuring ADB's Contribution to the Asian Highway Network," Working Papers on Regional Economic Integration 37, Asian Development Bank.
  3. Michael G. Plummer, 2014. "The emerging “post-Doha” agenda and the new regionalism," Chapters,in: New Global Economic Architecture, chapter 8, pages 172-196 Edward Elgar Publishing.
  4. Schou-Zibell, Lotte & Madhur, Srinivasa, 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.
  5. Warwick McKibbin & Waranya Pim Chanthapun, 2009. "Exchange Rate Regimes in the Asia-Pacific Region and the Global Financial Crisis," CAMA Working Papers 2009-30, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
  6. Ramesh Chandra & Rajiv Kumar, 2008. "South Asian Integration Prospects and Lessons from East Asia," Indian Council for Research on International Economic Relations, New Delhi Working Papers 202, Indian Council for Research on International Economic Relations, New Delhi, India.
  7. Rigg, Robert & Schou-Zibell, Lotte, 2009. "The Financial Crisis and Money Markets in Emerging Asia," Working Papers on Regional Economic Integration 38, Asian Development Bank.

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