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The Building Block versus Stumbling Block Debate of Regionalism: From the Perspective of Service Trade Liberalization in Asia

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Abstract

When debating the pros and cons of economic regionalism, haven't we focused enough on trade in goods at the expense of services? This article argues that regionalism is certainly a building block, not a stumbling block to a multilateral trading system, using the services liberalization scheme of Association of Southeast Asian Nations (ASEAN) as a case study. At the same time, it is critical to set out a proper institutional arrangement to ensure that regional services liberalization initiatives reinforce the global services regime. This paper proposes an amendment of the current GATS Article V to define the appropriate relationship between multilateralism and regionalism in the context of services.

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  • Hamanaka, Shintaro, 2009. "The Building Block versus Stumbling Block Debate of Regionalism: From the Perspective of Service Trade Liberalization in Asia," Working Papers on Regional Economic Integration 28, Asian Development Bank.
    • Handle: RePEc:ris:adbrei:0028
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    Cited by:

    1. Hamanaka, Shintaro, 2012. "Evolutionary paths toward a region-wide economic agreement in Asia," Journal of Asian Economics, Elsevier, vol. 23(4), pages 383-394.
    2. Pariwat Kanithasen & Vacharakoon Jivakanont & Charnon Boonnuch, 2011. "AEC 2015: Ambitions, Expectations and Challenges ASEAN's Path towards Greater Economic and Financial Integration," Working Papers 2011-03, Monetary Policy Group, Bank of Thailand.

    More about this item

    Keywords

    GATS; AFAS; ASEAN; services; regionalism; free trade; economic integration;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations

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