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Welfare Gains from Regional Economic Integration in Asia : ASEAN+3 or EAS

Author

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  • S.K. Mohanty

    (RIS)

  • Sanjib Pohit

Abstract

The experiences of Asian countries suggest that the region has substantial economic potentials and synergies between these countries and they can be better tapped with comprehensive economic cooperation. With this approach formation of an Asian Economic Community is not too far away from now. Next phase of liberalisation in Asia should focus on deep economic integration. Sitting on the driving seat, ASEANs economic interest should be given priority while taking a view on further regional economic liberalisation in Asia. The core issue is , which group of countries between ASEAN+3 and East Asian Summit (EAS) countries, would elicit maximum benefit to the region in general and ASEAN in particular? Using an Applied General Equilibrium (AGE) model in a monopolistic framework, the paper suggests that next Round of economic liberalisation should start with EAS.

Suggested Citation

  • S.K. Mohanty & Sanjib Pohit, 2007. "Welfare Gains from Regional Economic Integration in Asia : ASEAN+3 or EAS," Macroeconomics Working Papers 22121, East Asian Bureau of Economic Research.
    • Handle: RePEc:eab:macroe:22121
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    References listed on IDEAS

    as
    1. Jeffrey A. Frankel, 1997. "Regional Trading Blocs in the World Economic System," Peterson Institute Press: All Books, Peterson Institute for International Economics, number 72, April.
    2. Maurice Schiff & L. Alan Winters, 2003. "Regional Integration and Development," World Bank Publications - Books, The World Bank Group, number 15172.
    3. Nagesh Kumar, 2005. "Towards a Broader Asian Community : Agenda for the East Asia Summit," Macroeconomics Working Papers 22107, East Asian Bureau of Economic Research.
    4. Steven Globerman & Daniel M Shapiro, 1999. "The Impact of Government Policies on Foreign Direct Investment: The Canadian Experience," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 30(3), pages 513-532, September.
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    Cited by:

    1. Peter Morgan & Michael G. Plummer & Ganeshan Wignaraja & Fan Zhai, 2015. "Economic Implications of Deeper South Asian–Southeast Asian Integration: A CGE Approach," Asian Economic Papers, MIT Press, vol. 14(3), pages 63-81, Fall.
    2. ANDO Mitsuyo, 2009. "Impacts of FTAs in East Asia: CGE Simulation Analysis," Discussion papers 09037, Research Institute of Economy, Trade and Industry (RIETI).
    3. Ejaz Ghani & Musleh ud Din & Afia Malik, 2017. "An Assessment of Pakistan's Export Performance and the Way Forward," Working Papers id:12173, eSocialSciences.
    4. Wignaraja, Ganeshan, 2014. "Assessing the Experience of South Asia–East Asia Integration and India’s Role," ADBI Working Papers 465, Asian Development Bank Institute.
    5. Suresh MOKTAN, 2008. "Assessing the Economic Impacts and Welfare Implications of SAFTA and SAFTA+3+2: The South Asian Experience," EcoMod2008 23800090, EcoMod.
    6. Ganeshan Wignaraja, 2014. "Will South Asia Benefit from Pan-Asian Integration?," South Asia Economic Journal, Institute of Policy Studies of Sri Lanka, vol. 15(2), pages 175-197, September.
    7. Jonathan E. Ogbuabor & Onyinye I. Anthony-Orji & Oliver E. Ogbonna & Anthony Orji, 2019. "Regional integration and growth: New empirical evidence from WAEMU," Progress in Development Studies, , vol. 19(2), pages 123-143, April.
    8. Afia Malik & Ejaz Ghani & Musleh ud Din, 2017. "An Assessment of Pakistan’s Export Performance and the Way Forward," PIDE-Working Papers 2017:153, Pakistan Institute of Development Economics.

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    More about this item

    Keywords

    ASEAN; EAS; economic cooperation; Applied General Equilibrium model; economic integration;
    All these keywords.

    JEL classification:

    • F50 - International Economics - - International Relations, National Security, and International Political Economy - - - General
    • F55 - International Economics - - International Relations, National Security, and International Political Economy - - - International Institutional Arrangements

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