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Configuration of Free Trade Zones in the Asian-Pacific Region: Comparison of Integration Potentials

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  • Mikhail Vladimirovich Tomilov

    (Economic Research Institute FEB RAS)

Abstract

The article describes the potential free trade zones in Asia-Pacific: Trans-Pacific Partnership, Comprehensive Regional Economic Partnership, Free Trade Zone of Asia-Pacific. Literary sources used by the researchers allowed concluding that the efficiency of integration groups depends on participants’ composition and the level of their trade and economical development. The more heterogeneous trade union participants, the less effective its development. In this article economic proximity and trade interactions intensity are the main factors for choosing integration groups participants. The research goal is to assess the integration potential of mentioned free trade zones in Asia-Pacific. In order to achieve this goal the calculation of participating countries economic proximity and their trade interactions intensity is made by means of econometric and mathematical methods. As a result, Trans-Pacific Partnership which has already been cancelled because of Washington’s withdrawal turned out to be a free trade zone with the biggest integration potential. The results demonstrate the significant gap between the rest of the integration groups and the leader. It is likely to be explained either by incomplete level of integration cooperation for creating sufficient integration group providing positive trade and economical effects or by the absence of such forms of integration cooperation in Asia-Pacific, which let countries receive abovementioned effects. In addition the hypothetical zone of countries with the highest potential integration effects is identified within the premises considered in the article. It consists of 16 countries and demonstrates the highest level of economical proximity

Suggested Citation

  • Mikhail Vladimirovich Tomilov, 2019. "Configuration of Free Trade Zones in the Asian-Pacific Region: Comparison of Integration Potentials," Spatial Economics=Prostranstvennaya Ekonomika, Economic Research Institute, Far Eastern Branch, Russian Academy of Sciences (Khabarovsk, Russia), issue 1, pages 84-106.
    • Handle: RePEc:far:spaeco:y:2019:i:1:p:84-106
    DOI: 10.14530/se.2019.1.084-106
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    References listed on IDEAS

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    1. Anthony J. Venables, 2003. "Winners and losers from regional integration agreements," Economic Journal, Royal Economic Society, vol. 113(490), pages 747-761, October.
    2. Cathleen Cimino-Isaacs & Jeffrey J. Schott, 2016. "Trans-Pacific Partnership: An Assessment," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 7137, April.
    3. Duong Tran & Adam Heal, 2014. "A Free Trade Area of the Asia-Pacific: Potential Pathways to Implementation," Trade Insights Series 4, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
    4. Jeffrey J. Schott & Cathleen Cimino-Isaacs & Euijin Jung, 2016. "Implications of the Trans-Pacific Partnership for the World Trading System," Policy Briefs PB16-8, Peterson Institute for International Economics.
    5. Pravin Krishna, 2003. "Are Regional Trading Partners "Natural"?," Journal of Political Economy, University of Chicago Press, vol. 111(1), pages 202-231, February.
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    Cited by:

    1. Pavel Aleksandrovich Minakir & Artyom Gennadyevich Isaev & Alexander Nikolaevich Demyanenko & Olga Mikhailovna Prokapalo, 2020. "Economic Macroregions: An Integration Phenomenon or a Political Geographic Rationale? Far Eastern Russia Case," Spatial Economics=Prostranstvennaya Ekonomika, Economic Research Institute, Far Eastern Branch, Russian Academy of Sciences (Khabarovsk, Russia), issue 1, pages 66-99.
    2. P. A. Minakir & A. G. Isaev & A. N. Dem’yanenko & O. M. Prokapalo, 2020. "Economic Macroregions: An Integration Phenomenon or Political–Geographical Expediency? The Case of the Far East," Regional Research of Russia, Springer, vol. 10(3), pages 327-343, July.

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    More about this item

    Keywords

    integration potential; economic integration; Asia-Pacific; free trade zone; regional trade; Trans-Pacific Partnership; Comprehensive Regional Economic Partnership; Free Trade Zone of Asia-Pacific;
    All these keywords.

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F15 - International Economics - - Trade - - - Economic Integration
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations

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