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This book analyses how closer regional connectivity and economic
integration between South Asia and Southeast Asia can benefit both
regions. With a focus on the role played by infrastructure and
public policies in facilitating this process, it provides a
detailed and up-to-date discussion of issues, innovations, and
progress. Country studies of national connectivity issues and
policies cover Bangladesh, India, Myanmar, Nepal, Sri Lanka, and
Thailand, examining major developments in trade and investment,
economic cooperation, the role of economic corridors, and regional
cooperation initiatives.Thematic chapters explore investment in
land and sea transport infrastructure, trade facilitation,
infrastructure investment financing, supporting national and
regional policies, and model-based estimates of the benefits of
integration. They also identify significant opportunities for
strengthening these integration efforts as a result of the recent
opening up of Myanmar in political, economic, and financial terms.
For the first time for these regions, the book employs a
state-of-the-art computable general equilibrium (CGE) model
incorporating heterogeneous firms to estimate the advantages of
integration. Providing perspective on the latest thinking on
integration policy, Connecting Asia is an essential resource for
academics, policymakers, and business people alike. Contributors:
A. Bayley, T. Chalermpalanupap, K. Cheewatrakoolpong, S.
Chirathivat, M.I. Chowdhury, M.I. Corpuz, P. De, H. Florento, J.-F.
Gautrin, F. Hutchinson, B. Karmacharya, R. Mishra, K.G. Moazzem,
P.J. Morgan, N. Perera, M.G. Plummer, M. Rahman, P.B. Rana, S. Ray,
F. Sehrin, T.M.M. Than, M. Thuzar, D. Weerakoon, D. Wignall, M.
Wignall, G. Wignaraja, F. Zhai
Questions related to the economics of regionalism became
increasingly important beginning in the late 1980s, when regional
groupings started to become very popular as a tool of commercial
policy. The goal of this book is to address the question of whether
or not regionalism in developed countries has truly benefited
developing countries and to what degree regionalism among
developing countries and between developed and developing countries
will improve economic development prospects. Mordechai Kreinin and
Michael Plummer consider the implications of the emerging global
trend of economic regionalism for developing countries. The
analysis focuses on the trade and investment effects of integration
in developed countries on developing countries, as well as the
ramifications of regional integration in the latter. After an
extensive review of the theoretical and empirical literature
pertinent to the economics of regionalism, the book considers the
ex-post trade and direct-foreign-investment effects of the Single
Market Program in Europe and NAFTA, followed by chapters on ASEAN
and economic integration in Latin America, primarily MERCOSUR. The
study suggests three salient conclusions. First, in designing
preferential trading arrangements, developed countries should
recognize and attempt to minimize the possible discriminating
effect on developing countries. Second, the developing countries
have an abiding interest in the success of WTO negotiations that
would minimize the discrimination against them of regional
groupings in Europe and North America. And third, any customs
unions or free-trade areas among the developing countries
themselves should be outward-looking if they are to enhance the
welfare of developing countries. Economists and policy scholars, as
well as readers interested in regionalism and economic development,
will find this book a great resource.
Internationalization of the world economy has made trade a key
factor in the growth potential of nearly every nation's economy.
Hence, economists have become increasingly interested in the
determinants of international trade and competitiveness. Empirical
Methods in International Trade captures the many aspects of this
trend in globalization through practical techniques well-founded in
economic theory.The authors, comprising some of the most
influential applied international economists of their generation,
use cutting-edge models to develop empirical approaches to critical
aspects of economic interchange. These approaches are developed and
explained carefully with the goal of making them accessible to a
wide audience. Topics include: inter alia, labor markets and trade,
regional economic integration, measures of national competitiveness
and export similarity, aspects of the WTO and NAFTA, trade pattern
persistence, trade in services, and various case studies applied to
East Asia. Professors and students of international economics will
find this volume a valuable addition to their library, as will
policymakers dealing with economic issues of international scope.
Economic integration, both within Asia and around the world, has
had a major impact on the economies of the Asia-Pacific. NAFTA, the
European Union, and ASEAN have determined the course of foreign
direct investment, development, trade and policy making throughout
the region. The editors of this volume have chosen 14 articles that
best represent their work in this area over the past decade. They
examine the major issues and future course of integration and offer
recommendations for the future success of developing economies in
an increasingly dependent world. The book is divided into three
sections. The first offers the reader an overview of the chapters
and an historical review of ASEAN integration. The second section
considers the effects on Asian countries of regional integration in
Europe and North America. The final section considers integration
within the Asian economies themselves. Together, they reveal a
complex and varied series of causes and effects. It also leads to
three important policy conclusions that will need to be considered
in charting the course of regional economic development in the
twenty-first century. Researchers and students in Economics and
international business and anyone interested in economic
integration and Asian development will find this collection to be
very useful.
The ASEAN Economic Community (AEe constitutes the most ambitious
programme of economic cooperation in the developing world. Its goal
is to create no less than a free flow of goods, services, foreign
direct investment, and skilled labour, as well as a freer flow of
capital, throughout the region. Implementing this agenda will be
technically and politically difficult. Hence, understanding the
potential economic "payoff" is of the essence. The goal of this
book is to assess empirically the likely economic effects of the
AEC on the ASEAN Member States and associated stakeholders. It
mobilizes a number of techniques to do so, and finds that the
likely effects will be large, even greater than the anticipated
effects of the Single Market Program in Europe, for example. The
AEC will help the region improve competitiveness, facilitate the
creation of production networks, foster the diffusion of "best
practices," and help ASEAN project its interests more effectively
in an increasingly integrated, global economy.
The Enterprise for ASEAN Initiative (EAI), as envisaged in 2002 by
the Bush administration, is set to be a landmark in U.S.-ASEAN
trade relations. This study provides a detailed background and a
map to the unfolding negotiations. It includes: a detailed review
of the U.S.-ASEAN economic relationship, beginning with coverage of
the U.S.-ASEAN trade in goods globally and ending with an in-depth
analysis of the changing structure of bilateral trade in services;
reviews of theories of FTAs and empirical testing of the economics
of the EAI itself. Using the USSFTA as a reference point, this
study identifies and highlights the special bilateral issues that
will likely be involved in the ongoing EAI FTA negotiations. The
EAI is considered in the context of a changing global, Asia-Pacific
and sub-regional environment. Finally, the book makes a case for
the EAI, focusing on policy motivations - that is, as a defensive
strategy for ASEAN and a proactive commercial policy approach for
the United States - as well as a strategic imperative for both. The
Economics of the Enterprise for ASEAN Initiative is intended to
inform governmental, and nongovernmental policy-makers, trade
analysts, economists, and researchers who need to have a
comprehensive guide to this major trade initiative.
This book provides new insights for policy debates on how to
strengthen the gains from trade for innovation through an inclusive
trading environment that facilitates access to knowledge for all.
Rising economic nationalism, especially in the United States,
creates new challenges to an enlightened globalization agenda.The
US government has withdrawn from the Transpacific Partnership
agreement (TPP) that once was considered to be the gold standard of
megaregionalism, suggesting the need to highlight once again the
critical role that international trade and investment play in
fostering sustainable growth and prosperity. Fostering innovation
and facilitating the links between trade and innovation are
becoming increasingly important for developed and developing
economies alike. But equally important are economic policies to
ensure that gains and losses from trade for innovation are shared
by all.This book is a must read for trade economists, innovation
economists, trade negotiators, trade lawyers, and academicians
interested in current transformations in the global economy and
their impact on innovation and economic growth.
ASEAN economic cooperation and integration have come a long way
since the organisation's early days, when cooperation was more
political and diplomatic than economic in nature. ASEAN now
constitutes the most ambitious organisation of regional cooperation
and integration in the developing world. This book investigates the
economics of various ASEAN and ASEAN-centric economic integration
initiatives, focusing in particular on the ASEAN Economic Community
(AEC). In addition to assessing the potential effects of the AEC on
the economies of the ten ASEAN member states via changes in trade,
foreign direct investment and economic structure, this book
underscores the implementation challenges ASEAN faces as it
completes the AEC project. It also considers the AEC in the context
of the Regional Comprehensive Economic Partnership (RCEP). This
comprehensive study is written for academic researchers and
students, as well as for policy makers in ASEAN as they chart the
future policy path of the region.
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