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Are Regional Trade Agreements in Asia Stumbling or Building Blocks? Some Implications for the Mekong-3 Countries

Author/Editor: Tumbarello, Patrizia
Authorized for Distribution: March 1, 2007
Electronic Access: Free Full Text (PDF file size is 394KB)
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate.

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.
 
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Series: Working Paper No. 07/53
Subject(s): Trade | Asia | Cambodia | Lao People's Democratic Republic | Vietnam | Mekong | Economic models
Author's keyword(s): Regional trade agreements | gravity model | trade diversion | Asia | Mekong countries | panel data
 
English  
    Published:   March 1, 2007        
    ISBN/ISSN:   1934-7073   Format:   Paper
    Stock No:   WPIEA2007053   Pages:   27
    Price:   US$18.00 (Academic Rate: US$18.00 )
       
     
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