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Prospects of an ASEAN–People’s Republic of China Free Trade Area: A Qualitative and Quantitative Analysis

Author

Listed:
  • Park, Donghyun

    (Asian Development Bank)

  • Park, Innwon

    (Korea University)

  • Estrada, Gemma Esther

    (Asian Development Bank)

Abstract

The Association of Southeast Asian Nations (ASEAN) and the People’s Republic of China are economic partners as well as economic competitors. The ASEAN–People’s Republic of China Free Trade Area (ACFTA), which is set to come into effect around 2010, is designed to boost trade between the two sides. In this paper, we use insights from customs union theory for a qualitative analysis of whether ACFTA would be beneficial for both sides. We also apply a computable general equilibrium model to perform a quantitative analysis of the same issue. Both our qualitative and quantitative analyses provide grounds for guarded optimism about ACFTA’s prospects as a vehicle for strengthening economic partnership between ASEAN and the People’s Republic of China.

Suggested Citation

  • Park, Donghyun & Park, Innwon & Estrada, Gemma Esther, 2008. "Prospects of an ASEAN–People’s Republic of China Free Trade Area: A Qualitative and Quantitative Analysis," ADB Economics Working Paper Series 130, Asian Development Bank.
    • Handle: RePEc:ris:adbewp:0130
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    References listed on IDEAS

    as
    1. Ali M. El-Agraa, 1989. "The Theory and Measurement of International Economic Integration," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-10203-7.
    2. Chirathivat, Suthiphand, 2002. "ASEAN-China Free Trade Area: background, implications and future development," Journal of Asian Economics, Elsevier, vol. 13(5), pages 671-686.
    3. Innwon Park, 2006. "East Asian Regional Trade Agreements: Do They Promote Global Free Trade?," Pacific Economic Review, Wiley Blackwell, vol. 11(4), pages 547-568, December.
    4. Liu Yunhua & Luo Hang, 2004. "Impact of Globalization on International Trade between ASEAN-5 and China: Opportunities and Challenges," Global Economy Journal, De Gruyter, vol. 4(1), pages 1-20, October.
    5. Kawai, Masahiro & Wignaraja, Ganeshan, 2008. "Regionalism as an Engine of Multilateralism: A Case for a Single East Asian FTA," Working Papers on Regional Economic Integration 14, Asian Development Bank.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    ASEAN; economic competition; economic partnership; free trade area; Peoples Republic of China;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F17 - International Economics - - Trade - - - Trade Forecasting and Simulation
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations

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