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East Asian Economic Integration and its Impact on Future Growth

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  • Philippa Dee

Abstract

Two propositions appear to be gaining wide currency, given the revealed preference for preferential trade agreements (PTAs) in the East Asian region and elsewhere. The first is that economic integration is a good way to promote economic growth. The second is that PTAs, particularly ones that go beyond goods trade, are an effective way to promote economic integration. Yet both propositions are empirical questions. In this paper, a partial evaluation of the evidence suggests caution is called for. Current PTAs appear to be doing little to remove the important impediments to growth in the region. Far greater income gains would come from comprehensive reform of nondiscriminatory impediments to competition, as part of a thorough-going program of unilateral domestic regulatory reform. It may be time to rethink East Asian economic integration as a policy priority, or at least review the way in which it might be pursued.

Suggested Citation

  • Philippa Dee, 2005. "East Asian Economic Integration and its Impact on Future Growth," Asia Pacific Economic Papers 350, Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University.
    • Handle: RePEc:csg:ajrcau:350
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    File URL: https://crawford.anu.edu.au/pdf/pep/pep-350.pdf
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    References listed on IDEAS

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    1. Philippa Dee, 2005. "The Australia-US Free Trade Agreement: An Assessment," Asia Pacific Economic Papers 345, Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University.
    2. Arief Ramayandi, 2005. "ASEAN Monetary Cooperation: Issues and Prospects," Asia Pacific Economic Papers 349, Australia-Japan Research Centre, Crawford School of Public Policy, The Australian National University.
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    6. Hertel, Thomas, 1997. "Global Trade Analysis: Modeling and applications," GTAP Books, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University, number 7685, December.
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    Cited by:

    1. Kirkegaard, Jacob Funk, 2012. "Transactions: A New Look at Service Sector Foreign Direct Investment in Asia," ADB Economics Working Paper Series 318, Asian Development Bank.
    2. Gordon De BROUWER & Arief RAMAYANDI & David TURVEY, 2006. "Macroeconomic Linkages and Regional Monetary Cooperation: Steps Ahead," Asian Economic Policy Review, Japan Center for Economic Research, vol. 1(2), pages 284-301, December.
    3. Guojie Ma, 2016. "Corporate Behaviour and Market Integration: Evidence from the Asia-Pacific Real Estate Market," PhD Thesis, Finance Discipline Group, UTS Business School, University of Technology, Sydney, number 3-2016, January-A.
    4. Balistreri, Edward J. & Jensen, Jesper & Tarr, David, 2015. "What determines whether preferential liberalization of barriers against foreign investors in services are beneficial or immizerising: Application to the case of Kenya," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 9, pages 1-134.
    5. Jane Korinek & Mark Melatos, 2009. "Trade Impacts of Selected Regional Trade Agreements in Agriculture," OECD Trade Policy Papers 87, OECD Publishing.
    6. Ehigiamusoe, Kizito Uyi & Lean, Hooi Hooi, 2019. "Do economic and financial integration stimulate economic growth? A critical survey," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 13, pages 1-27.
    7. Hiro Lee & Dominique van der Mensbrugghe, 2007. "Regional Integration, Sectoral Adjustments and Natural Groupings in East Asia," OSIPP Discussion Paper 07E008, Osaka School of International Public Policy, Osaka University.
    8. Philippa Dee, 2006. "Institutions for Enhancing Economic Policy Performance," EABER Working Papers 21827, East Asian Bureau of Economic Research.
    9. Shiro Armstrong, 2010. "Taiwan's Asia Pacific Economic Strategies Post-ECFA," EABER Working Papers 22810, East Asian Bureau of Economic Research.
    10. Hyun‐Hoon Lee & Chung Mo Koo & Euijeong Park, 2008. "Are Exports of China, Japan and Korea Diverted in the Major Regional Trading Blocs?," The World Economy, Wiley Blackwell, vol. 31(7), pages 841-860, July.
    11. Colin Davis & Ken-ichi Hashimoto, 2016. "Economic Integration, Monopoly Power and Productivity Growth without Scale Effects," Review of Development Economics, Wiley Blackwell, vol. 20(1), pages 152-163, February.
    12. Christopher Findlay, 2011. "Services Trade and Investment Liberalization," Chapters, in: Masahisa Fujita & Ikuo Kuroiwa & Satoru Kumagai (ed.), The Economics of East Asian Integration, chapter 8, Edward Elgar Publishing.
    13. Raluca Ioana Oprea, 2019. "Directions of Economic Integration in the Arab East," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 110-114, August.
    14. Lee, Hiro & Owen, Robert F. & van der Mensbrugghe, Dominique, 2009. "Regional integration in Asia and its effects on the EU and North America," Journal of Asian Economics, Elsevier, vol. 20(3), pages 240-254, May.
    15. repec:uts:finphd:35 is not listed on IDEAS
    16. Rolf J. Langhammer, 2008. "Sectoral Distortions and Service Protection in Russia: A Comparison with Benchmark Emerging Markets and EU Accession Candidates," Eastern European Economics, Taylor & Francis Journals, vol. 46(6), pages 70-83, November.
    17. Sin Yee Lee & Zulkefly Abdul Karim & Norlin Khalid & Mohd Azlan Shah Zaidi, 2022. "The Spillover Effects of Chinese Shocks on the Belt and Road Initiative Economies: New Evidence Using Panel Vector Autoregression," Mathematics, MDPI, vol. 10(14), pages 1-18, July.
    18. Philippa Dee, 2008. "The role of microeconomic policy reform in regional integration  analytical and empirical issues," EABER Working Papers 21793, East Asian Bureau of Economic Research.
    19. Baldwin, Richard, 2010. "Sequencing regionalism: Theory, European practice, and lessons for Asia," CEPR Discussion Papers 7852, C.E.P.R. Discussion Papers.
    20. Philippa Dee, 2010. "Alternative Growth Strategies in Asia: Liberalization, Deregulation, Structural Reforms," Chapters, in: Masahiro Kawai & Jong-Wha Lee & Peter A. Petri & Giovanni Capanelli (ed.), Asian Regionalism in the World Economy, chapter 4, Edward Elgar Publishing.
    21. Peter DRYSDALE & Shiro ARMSTRONG, 2010. "International and Regional Cooperation: Asia's Role and Responsibilities," Asian Economic Policy Review, Japan Center for Economic Research, vol. 5(2), pages 157-173, December.
    22. Malcolm Bsosworth & Leanne Holmes, 2005. "The WTO Doha Agenda—Progress and Issues for Asia Pacific Developing Economies," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 19(2), pages 55-74, November.

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    JEL classification:

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

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