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ASEAN Commercial Policy: A Rare Case of Outward-Looking Regional Integration

Author

Listed:
  • Hill, Hal

    (Arndt-Corden Department of Economics)

  • Menon, Jayant

    (Asian Development Bank)

Abstract

ASEAN has significant achievements to its credit. It is a durable and effective functioning entity, more so than any other regional organization in the developing world. For a region characterized by great diversity and a history of conflict, ASEAN has played a role in delivering relative peace and stability in the region, which has in turn facilitated rapid economic development. Yet ASEAN has not progressed very far in terms of becoming a formal economic entity. But its own brand of market-driven and institution-light regionalism has served it well. The ASEAN-6 countries have undertaken several waves of multilateralizing preferences, ensuring global connectedness. Looking forward, hopefully the new members will follow suit, and this approach towards open regionalism will be preserved with the move to an ASEAN Economic Community.

Suggested Citation

  • Hill, Hal & Menon, Jayant, 2014. "ASEAN Commercial Policy: A Rare Case of Outward-Looking Regional Integration," Working Papers on Regional Economic Integration 144, Asian Development Bank.
  • Handle: RePEc:ris:adbrei:0144
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    Citations

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    Cited by:

    1. Claes G. Alvstam & Erja Kettunen & Patrik Ström, 2017. "The service sector in the free-trade agreement between the EU and Singapore: closing the gap between policy and business realities," Asia Europe Journal, Springer, vol. 15(1), pages 75-105, March.

    More about this item

    Keywords

    ASEAN; open regionalism; multilateralization of preferences; FTA;
    All these keywords.

    JEL classification:

    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F17 - International Economics - - Trade - - - Trade Forecasting and Simulation

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