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The Market Driven Trade Liberalization And East Asian Regional Integration

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Abstract

This paper creates a new index (“index of bilateral trade relation”) to quantitatively evaluate the degree of regional economic integration based on countries’ de facto bilateral trade relations. It concludes that a fundamental arrangement of East Asian regionalism should involve at least one of the two “hub” candidates – Japan and China. It also suggests that the China-ASEAN FTA (CAFTA) may trigger domino effects of regionalism in East Asia.

Suggested Citation

  • Lurong Chen, 2004. "The Market Driven Trade Liberalization And East Asian Regional Integration," IHEID Working Papers 12-2008, Economics Section, The Graduate Institute of International Studies, revised Apr 2008.
    • Handle: RePEc:gii:giihei:heidwp12-2008
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    File URL: http://repec.graduateinstitute.ch/pdfs/Working_papers/HEIDWP12-2008.pdf
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    References listed on IDEAS

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    1. Choong Yong Ahn & Richard E. Baldwin & Inkyo Cheong (ed.), 2005. "East Asian Economic Regionalism," Springer Books, Springer, number 978-0-387-24331-3, February.
    2. Bergstrand, Jeffrey H, 1989. "The Generalized Gravity Equation, Monopolistic Competition, and the Factor-Proportions Theory in International Trade," The Review of Economics and Statistics, MIT Press, vol. 71(1), pages 143-153, February.
    3. J. M. C. Santos Silva & Silvana Tenreyro, 2006. "The Log of Gravity," The Review of Economics and Statistics, MIT Press, vol. 88(4), pages 641-658, November.
    4. Richard E. Baldwin, 2005. "Asian Regionalism: Promises and Pitfalls," Springer Books, in: Choong Yong Ahn & Richard E. Baldwin & Inkyo Cheong (ed.), East Asian Economic Regionalism, chapter 0, pages 157-174, Springer.
    5. K.H. Midelfart & H.G. Overman & S.J. Redding & A.J. Venables, 2000. "The location of European industry," European Economy - Economic Papers 2008 - 2015 142, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
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    Cited by:

    1. Lurong Chen & Philippe De Lombaerde & Ludo Cuyvers, 2017. "Markets Matter: The Potential of Intra-Regional Trade in ASEAN and Its Implications for Asian Regionalism," Asian Economic Papers, MIT Press, vol. 16(2), pages 1-19, Summer.
    2. Lurong Chen & Ludo Cuyvers & Philippe De Lombaerde, 2017. "Asean Economic Integration Compared: What Do The Numbers Tell Us?," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 62(03), pages 619-641, June.
    3. Lurong Chen, 2012. "The BRICs in the Global Value Chains: An Empirical Note," Revista Cuadernos de Economia, Universidad Nacional de Colombia, FCE, CID, August.
    4. Lurong Chen, 2015. "Germany–China Trade: Potential and Implications," China Economic Policy Review (CEPR), World Scientific Publishing Co. Pte. Ltd., vol. 4(01), pages 1-15, June.

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    More about this item

    Keywords

    International Economics; trade liberalization; regional integration; East Asian Regionalism;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • R11 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Regional Economic Activity: Growth, Development, Environmental Issues, and Changes

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