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Asia and South America: A Quasi-Common Economy Approach

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  • Otaviano Canuto
  • Manu Sharma

Abstract

The Asian style of regional integration may be seen as a “quasi-common economy” that eschews a formal linkup in political or monetary terms, but manages to generate similar results by strong physical integration and distributed chains of production and service delivery. This note proposes the Asian quasi-common economy as a benchmark for South America’s regional integration efforts because it is a better fit than the politically driven, broad-based, European style integrative process.
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Suggested Citation

  • Otaviano Canuto & Manu Sharma, 2011. "Asia and South America: A Quasi-Common Economy Approach," World Bank Other Operational Studies 10076, The World Bank.
  • Handle: RePEc:wbk:wboper:10076
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    File URL: https://openknowledge.worldbank.org/bitstream/handle/10986/10076/645100BRI0EP0BOX361539B00PUBLIC0.pdf?sequence=1
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    References listed on IDEAS

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    1. Frankel, Jeffrey A & Rose, Andrew K, 1998. "The Endogeneity of the Optimum Currency Area Criteria," Economic Journal, Royal Economic Society, vol. 108(449), pages 1009-1025, July.
    2. Canuto, Otaviano & Haddad, Mona & Hanson, Gordon, 2010. "Export-Led Growth v2.0," World Bank - Economic Premise, The World Bank, issue 3, pages 1-5, March.
    3. M. Ayhan Kose & Eswar S. Prasad & Marco E. Terrones, 2003. "How Does Globalization Affect the Synchronization of Business Cycles?," American Economic Review, American Economic Association, vol. 93(2), pages 57-62, May.
    4. Indermit Gill & Homi Kharas, 2007. "An East Asian Renaissance : Ideas for Economic Growth," World Bank Publications, The World Bank, number 6798, August.
    5. Amsden, Alice H, 1991. "Diffusion of Development: The Late-Industrializing Model and Greater East Asia," American Economic Review, American Economic Association, vol. 81(2), pages 282-286, May.
    6. Haddad, Mona & Lim, Jamus Jerome & Saborowski, Christian, 2010. "Managing Openness and Volatility: The Role of Export Diversification," World Bank - Economic Premise, The World Bank, issue 6, pages 1-4, March.
    7. Otaviano Canuto & Marcelo Giugale, 2010. "The Day After Tomorrow : A Handbook on the Future of Economic Policy in the Developing World," World Bank Publications, The World Bank, number 2507, August.
    8. Yeats, Alexander J, 1998. "Does Mercosur's Trade Performance Raise Concerns about the Effects of Regional Trade Arrangements?," World Bank Economic Review, World Bank Group, vol. 12(1), pages 1-28, January.
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    Cited by:

    1. World Bank, 2012. "Reshaping Economic Geography of East Africa : From Regional to Global Integration (Vol. 1 of 2)," World Bank Other Operational Studies 11930, The World Bank.

    More about this item

    Keywords

    International Economics and Trade - Free Trade Economic Theory and Research Private Sector Development - Emerging Markets Finance and Financial Sector Development - Currencies and Exchange Rates Macroeconomics and Economic Growth - Regional Economic Development;

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F2 - International Economics - - International Factor Movements and International Business
    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • F42 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Policy Coordination and Transmission
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies

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