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Integration Strategies for Asean: Alone, Together, or Together with Neighbors?

In: Pan-Asian Integration

Author

Listed:
  • Michael Plummer
  • Ganeshan Wignaraja

Abstract

Internationalization of the economies in the Association of Southeast Asian Nations (ASEAN) has been proceeding at a rapid pace. Moreover, the direction of this internationalization is clearly in favor of East Asia. To complement and facilitate this regionalization, ASEAN has been pursuing a multi-pronged approach, from deeper economic integration in ASEAN itself to bilateral and regional free trade agreements (FTAs) and national policy reform. While the subject of monetary union continues to be a popular topic, in practical terms little has been done in the direction of its realization. There have been a number of initiatives (discussed below) in terms of financial cooperation but to date the most important accords have been in the real sector. In fact, although there were few formal FTAs in place in East Asia outside of the ASEAN Free Trade Area (AFTA) at the turn of the century, the Asian Development Bank (ADB) estimates that 42 concluded FTAs exist today, with another 66 being either negotiated or proposed.2

Suggested Citation

  • Michael Plummer & Ganeshan Wignaraja, 2009. "Integration Strategies for Asean: Alone, Together, or Together with Neighbors?," Palgrave Macmillan Books, in: Joseph Francois & Pradumna B. Rana & Ganeshan Wignaraja (ed.), Pan-Asian Integration, chapter 3, pages 163-206, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-23697-4_3
    DOI: 10.1057/9780230236974_3
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    Cited by:

    1. Andrista, Safira & Widodo, Tri, 2017. "Welfare Impact of ASEAN Economic Integration: “ASEAN Way” Versus Theory," MPRA Paper 80880, University Library of Munich, Germany.
    2. Plummer, Michael G., 2010. "EU-Asia Free Trade Areas? Economic and Policy Considerations," ADBI Working Papers 255, Asian Development Bank Institute.

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