Regional Integration, Sectoral Adjustments and Natural Groupings in East Asia

Although East Asian countries were relatively inactive in signing free trade agreements (FTAs) until the end of 1990s, a number of FTAs involving East Asian countries have been signed since the turn of the century. The objective of this study is to compare welfare gains and sectoral adjustments resu...

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Main Authors: Lee, Hiro, van der Mensbrugghe, Dominique
Format: Journal Article
Language:EN
Published: 2012
Subjects:
Online Access:http://hdl.handle.net/10986/4674
id okr-10986-4674
recordtype oai_dc
spelling okr-10986-46742021-04-23T14:02:19Z Regional Integration, Sectoral Adjustments and Natural Groupings in East Asia Lee, Hiro van der Mensbrugghe, Dominique Economic Integration F150 International Linkages to Development Role of International Organizations O190 Development Planning and Policy: Trade Policy Factor Movement Foreign Exchange Policy O240 Although East Asian countries were relatively inactive in signing free trade agreements (FTAs) until the end of 1990s, a number of FTAs involving East Asian countries have been signed since the turn of the century. The objective of this study is to compare welfare gains and sectoral adjustments resulting from various FTA scenarios in East Asia using a dynamic global computable general equilibrium (CGE) model. The RCA rankings of commodities with various FTA scenarios and those with the global trade liberalization are correlated to examine how "natural" each grouping would be. The results suggest that the ASEAN+3 FTA, with relatively large welfare gains and small structural adjustments, could be a facilitating intermediate step towards global free trade. Some of the smaller FTAs, such as the ASEAN-China and ASEAN-Korea FTAs, would result in large structural adjustments for ASEAN countries. 2012-03-30T07:29:11Z 2012-03-30T07:29:11Z 2008 Journal Article International Journal of Applied Economics 15480003 http://hdl.handle.net/10986/4674 EN http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Journal Article East Asia China Korea, Republic of
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language EN
topic Economic Integration F150
International Linkages to Development
Role of International Organizations O190
Development Planning and Policy: Trade Policy
Factor Movement
Foreign Exchange Policy O240
spellingShingle Economic Integration F150
International Linkages to Development
Role of International Organizations O190
Development Planning and Policy: Trade Policy
Factor Movement
Foreign Exchange Policy O240
Lee, Hiro
van der Mensbrugghe, Dominique
Regional Integration, Sectoral Adjustments and Natural Groupings in East Asia
geographic_facet East Asia
China
Korea, Republic of
relation http://creativecommons.org/licenses/by-nc-nd/3.0/igo
description Although East Asian countries were relatively inactive in signing free trade agreements (FTAs) until the end of 1990s, a number of FTAs involving East Asian countries have been signed since the turn of the century. The objective of this study is to compare welfare gains and sectoral adjustments resulting from various FTA scenarios in East Asia using a dynamic global computable general equilibrium (CGE) model. The RCA rankings of commodities with various FTA scenarios and those with the global trade liberalization are correlated to examine how "natural" each grouping would be. The results suggest that the ASEAN+3 FTA, with relatively large welfare gains and small structural adjustments, could be a facilitating intermediate step towards global free trade. Some of the smaller FTAs, such as the ASEAN-China and ASEAN-Korea FTAs, would result in large structural adjustments for ASEAN countries.
format Journal Article
author Lee, Hiro
van der Mensbrugghe, Dominique
author_facet Lee, Hiro
van der Mensbrugghe, Dominique
author_sort Lee, Hiro
title Regional Integration, Sectoral Adjustments and Natural Groupings in East Asia
title_short Regional Integration, Sectoral Adjustments and Natural Groupings in East Asia
title_full Regional Integration, Sectoral Adjustments and Natural Groupings in East Asia
title_fullStr Regional Integration, Sectoral Adjustments and Natural Groupings in East Asia
title_full_unstemmed Regional Integration, Sectoral Adjustments and Natural Groupings in East Asia
title_sort regional integration, sectoral adjustments and natural groupings in east asia
publishDate 2012
url http://hdl.handle.net/10986/4674
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