A Comparative Analysis of Trade and Economic Integration in East Asia and Latin America

This paper provides an analysis of the two channels of regional integration: integration via markets and integration via agreements. Given that East Asia and Latin America are two fertile regions where both forms of integrations have taken place, we examine the experiences of these two areas to illu...

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Main Authors:	Aminian, Nathalie, Fung, K.C., Ng, Francis
Format:	Journal Article
Language:	EN
Published:	2012
Subjects:	Country and Industry Studies of Trade F140 Economic Integration F150 International Linkages to Development Role of International Organizations O190 Development Planning and Policy: Trade Policy Factor Movement Foreign Exchange Policy O240
Online Access:	http://hdl.handle.net/10986/5658

id	okr-10986-5658
recordtype	oai_dc
spelling	okr-10986-56582021-04-23T14:02:23Z A Comparative Analysis of Trade and Economic Integration in East Asia and Latin America Aminian, Nathalie Fung, K.C. Ng, Francis Country and Industry Studies of Trade F140 Economic Integration F150 International Linkages to Development Role of International Organizations O190 Development Planning and Policy: Trade Policy Factor Movement Foreign Exchange Policy O240 This paper provides an analysis of the two channels of regional integration: integration via markets and integration via agreements. Given that East Asia and Latin America are two fertile regions where both forms of integrations have taken place, we examine the experiences of these two areas to illustrate our conclusions. There are three related results. First, East Asia has been integrating via the markets long before formal agreements have been in vogue in the region. Latin America, on the other hand, has primarily been using formal regional trade treaties as the main channel of integration. Second, despite the relative lack of formal regional trade treaties until recently, East Asia is more integrated among itself than Latin America. Third, from a purely economic and trade standpoint, the proper sequence of integrations seems to be first integrating via the markets and subsequently via formal regional trade agreements. One interpretation of the relative success of the East Asian approach is that regional trade agreements often serve multiple constituents. Integrating via markets first can be helpful because this can give a stronger political bargaining power to the outward-looking economic-oriented forces within the country. 2012-03-30T07:33:54Z 2012-03-30T07:33:54Z 2009 Journal Article Economic Change and Restructuring 15739414 http://hdl.handle.net/10986/5658 EN http://creativecommons.org/licenses/by-nc-nd/3.0/igo World Bank Journal Article Latin America East Asia
repository_type	Digital Repository
institution_category	Foreign Institution
institution	Digital Repositories
building	World Bank Open Knowledge Repository
collection	World Bank
language	EN
topic	Country and Industry Studies of Trade F140 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	Country and Industry Studies of Trade F140 Economic Integration F150 International Linkages to Development Role of International Organizations O190 Development Planning and Policy: Trade Policy Factor Movement Foreign Exchange Policy O240 Aminian, Nathalie Fung, K.C. Ng, Francis A Comparative Analysis of Trade and Economic Integration in East Asia and Latin America
geographic_facet	Latin America East Asia
relation	http://creativecommons.org/licenses/by-nc-nd/3.0/igo
description	This paper provides an analysis of the two channels of regional integration: integration via markets and integration via agreements. Given that East Asia and Latin America are two fertile regions where both forms of integrations have taken place, we examine the experiences of these two areas to illustrate our conclusions. There are three related results. First, East Asia has been integrating via the markets long before formal agreements have been in vogue in the region. Latin America, on the other hand, has primarily been using formal regional trade treaties as the main channel of integration. Second, despite the relative lack of formal regional trade treaties until recently, East Asia is more integrated among itself than Latin America. Third, from a purely economic and trade standpoint, the proper sequence of integrations seems to be first integrating via the markets and subsequently via formal regional trade agreements. One interpretation of the relative success of the East Asian approach is that regional trade agreements often serve multiple constituents. Integrating via markets first can be helpful because this can give a stronger political bargaining power to the outward-looking economic-oriented forces within the country.
format	Journal Article
author	Aminian, Nathalie Fung, K.C. Ng, Francis
author_facet	Aminian, Nathalie Fung, K.C. Ng, Francis
author_sort	Aminian, Nathalie
title	A Comparative Analysis of Trade and Economic Integration in East Asia and Latin America
title_short	A Comparative Analysis of Trade and Economic Integration in East Asia and Latin America
title_full	A Comparative Analysis of Trade and Economic Integration in East Asia and Latin America
title_fullStr	A Comparative Analysis of Trade and Economic Integration in East Asia and Latin America
title_full_unstemmed	A Comparative Analysis of Trade and Economic Integration in East Asia and Latin America
title_sort	comparative analysis of trade and economic integration in east asia and latin america
publishDate	2012
url	http://hdl.handle.net/10986/5658
_version_	1764395846726582272

A Comparative Analysis of Trade and Economic Integration in East Asia and Latin America

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