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Journal of Asian EconomicsVolume 20, Issue 3, May 2009, Pages 240-254

Regional integration in Asia and its effects on the EU and North America(Article)(Open Access)

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  • aOsaka School of International Public Policy, Osaka University, 1-31 Machikaneyama-cho, Toyonaka, Osaka, 560-0043, Japan
  • bLEMNA Research Center, Institute of Economics and Management of Nantes (IEMN-IAE), University of Nantes, Chemin la Censive Tertre, B.P. 52231, 44322 Nantes Cedex 03, France
  • cDECPG, The World Bank, 1818 H Street, NW, Washington, DC 20433, United States

Abstract

Consequences of free-trade agreements (FTAs) among the ASEAN+3 and ASEAN+6 countries are explored using a dynamic computable general equilibrium (CGE) model. Quantitative assessments of intra- and extra-regional effects on welfare, trade and output are offered. When both trade facilitation and endogenously determined productivity are included in the FTA scenarios, Singapore, other ASEAN countries and China would be able to realize relatively large welfare gains, while the welfare effects on the EU and North America are negligible. The trade and output effects on the latter two regions are also relatively small, with the notable exception of crops, other than rice, in North America. © 2009 Elsevier Inc. All rights reserved.

Author keywords

AsiaCGE modelFree-trade agreementRegional integration

Funding details

Funding sponsor Funding number Acronym
Japan Society for the Promotion of Science
See opportunities by KAKEN		B-19330050KAKEN

  • 1

    We have benefitted from the helpful comments of Michael G. Plummer, David J. Green, Richard Pomfret, and other participants at the Conference on “Asian Economic Integration in a Global Context,” Rimini, Italy, August 29–31, 2008. Lee gratefully acknowledges financial support from the Japan Society for the Promotion of Science program, grants-in-aid for basic research (B-19330050).

  • ISSN: 10490078
  • Source Type: Journal
  • Original language: English
  • DOI: 10.1016/j.asieco.2009.02.001
  • Document Type: Article

  Lee, H.; Osaka School of International Public Policy, Osaka University, 1-31 Machikaneyama-cho, Japan;
© Copyright 2009 Elsevier B.V., All rights reserved.

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