Are Regional Trade Agreements in Asia Stumbling or Building Blocks? Implications for the Mekong-3 Countries
March 1, 2007
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Summary
Is the recent proliferation of Regional Trade Agreements (RTAs) in Asia a healthy development, or runs the risk of turning into an unmanageable "noodle bowl" in the future? The goal of this paper is to shed some light on this question. The results show that membership in the Asian RTAs considered in this study have not, to date, occurred at the expense of trade with nonmembers, as most Asian countries' integration with the global economy preceded regional integration. However, looking forward, given their discriminatory nature, a proliferation of RTAs, which is not accompanied by continuing unilateral and multilateral liberalization, could run the risk of leading to costly trade diversion.
Subject: Customs unions, Imports, Trade agreements, Trade balance, Trade liberalization
Keywords: ASEAN member, right, WP
Pages:
27
Volume:
2007
DOI:
Issue:
053
Series:
Working Paper No. 2007/053
Stock No:
WPIEA2007053
ISBN:
9781451866179
ISSN:
1018-5941
