East Asian countries - currently the most dynamic region of the global economy - have recently pursued trade liberalization through the adoption of various forms of bilateral and plurilateral Free Trade Agreements (FTAs). The book explores the key issues and possible outcomes arising from this departure from the region's traditional multilateral approach to trade liberalization. Implications of this new approach for the region as a whole, and key participating individual economies and blocs of economies, are emphasized.
New East Asian Regionalism includes up-to-date analysis of the most recent developments in FTAs between countries in East Asia, as well as those involving countries from outside the region. Furthermore, the book includes invaluable projections on economic and welfare outcomes of regional trade agreements, using the very latest empirical techniques, and data. The book also considers the implications arising from closer financial integration in the region.
This book will be warmly welcomed by scholars of regional science, international economics and business, as well as Asian studies. Policymakers at both the national government and international organization level will also find this book of great interest.
Edited by Charles Harvie, Associate Professor and Director, Centre for Small Business and Regional Research, University of Wollongong, Australia, Fukunari Kimura, Chief Economist, Economic Research Institute for ASEAN and East Asia (ERIA), Indonesia and Hyun-Hoon Lee, Professor, Kangwon National University, Korea
Contents: Part I: Introduction 1. Introduction Charles Harvie, Fukunari Kimura and Hyun-Hoon Lee Part II: Background and Context 2. East Asia and the Evolution of Preferential Trading Arrangements in the Asia-Pacific Region: A Stock-take Robert Scollay 3. Global Supply Networks and Multilateral Trade Linkages: A Structural Analysis of East Asia David Roland-Holst Part III: Issues in Trade and Investment Cooperation in East Asia 4. International Production/Distribution Networks and FTAs Fukunari Kimura and Mitsuyo Ando 5. Regional Trade Agreements and their Effect on Non Member Exports and Production Ryuhei Wakasugi and Kazuhiko Itoh 6. Trade Integration in ASEAN: An Application of the Panel Gravity Model Seyed Komail Tayyebi 7. Key Factors in Foreign Direct Investment Utilization in ASEAN+3 Yanyun Zhao and Zhao Lei Part IV: Country Perspectives on Asian Regionalism 8. The ASEAN Perspective on East Asian-wide Regionalism Suthiphand Chirathivat 9. Korea's Perspectives on East Asian Regionalism Chan-Hyun Sohn and Hyun-Hoon Lee 10. Some Perspectives on China's Role in the East Asian Economies Tang Zongming and Tran Van Hoa 11. ASEAN+3 and RTAs and their Impact on Asia-Australia Trade and Growth: Econometric Evidence from an Extended Gravity Theory Tran Van Hoa Part V: Monetary Cooperation in East Asia 12. Regional Economic and Monetary Integration - A Modelling and Policy Analysis Charles Harvie 13. Creating a Common Currency Basket for East Asia: Prospects and Key Issues Eiji Ogawa and Kentaru Kawasaki Index