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Regional integration APEC style: Are there lessons to learn from regional integration EU style?

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  • Langhammer, Rolf J.

Abstract

The paper discusses similarities and differences between past EU binding internal liberalization „across the board“ in the industrial sector and present so-called voluntary sectoral liberalization of member states of the Asia-Pacific Economic Cooperation (APEC). While both approaches are second-best compared to unconcerted unilateral liberalization, the major disadvantage of liberalization APEC style in the industrial sector consists in introducing distortions between sectors as well as between member states due to rising disparities in timing liberalization within Asia Pacific. Such disparities raise problems of time consistency of liberalization under the so-called Bogor target of achieving free trade within APEC in 2010 (2020 for less advanced member states). Reliance on „peer pressure“ as the only mechanism to commit member states to liberalization is seen as a weak driving force to make APEC’s concerted unilateralism a stepping stone for the successor round of the Uruguay Round. The paper proposes a number of measures successfully applied in the EU to give APEC’s liberalization more „teeth“ to the benefit of multilateral liberalization.

Suggested Citation

  • Langhammer, Rolf J., 1998. "Regional integration APEC style: Are there lessons to learn from regional integration EU style?," Kiel Working Papers 869, Kiel Institute for the World Economy (IfW Kiel).
    • Handle: RePEc:zbw:ifwkwp:869
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    File URL: https://www.econstor.eu/bitstream/10419/1025/1/kap869.pdf
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    References listed on IDEAS

    as
    1. Mr. Vito Tanzi, 1998. "The Demise of the Nation State?," IMF Working Papers 1998/120, International Monetary Fund.
    2. Rolf Langhammer, 1995. "Regional integration in East Asia. From market-driven regionalisation to institutionalised regionalism?," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 131(1), pages 167-201, March.
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    More about this item

    Keywords

    trade liberalization; open regionalism; multilateral trade negotiations; regional integration;
    All these keywords.

    JEL classification:

    • F14 - International Economics - - Trade - - - Empirical Studies of Trade
    • F15 - International Economics - - Trade - - - Economic Integration
    • F15 - International Economics - - Trade - - - Economic Integration
    • F14 - International Economics - - Trade - - - Empirical Studies of Trade

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