Catalog

Asian Economic Cooperation and Integration: Progress, Prospects, and Challenges

Over the past decade in Asia, a growing awareness of the interdependence among countries in the region and of the importance of regional cooperation in managing the challenges of globalization has led to important steps to enhance regional economic cooperation initiatives. Relatively slow progress with multilateral initiatives and the proliferation of regional blocs in other parts of the world have provided additional impetus to greater cooperation within Asia. There is a realization that open regionalism can contribute substantially to enhanced productivity and economic growth, and to poverty reduction, within the region.

Economic cooperation in Asia has so far been limited mainly to the bilateral or subregional levels and in the areas of trade and investment, money and finance, and infrastructure. More recently, however, the geographic scope of agreements has started to expand across the different subregions, providing initial signs of cooperation and integration in Asia as a whole.

This publication contains papers presented by experts at a high-level conference organized at the Asian Development Bank in July 2004. It

• evaluates the current state of economic cooperation and integration in Asia and its contribution to the development and stability of the region
• explores the potential benefits of regional cooperation and integration, as well as its complexities and challenges
• discusses possible directions for enhancing economic integration within the region

The analyses in this book will contribute to a deeper understanding of the process of economic cooperation and integration in Asia.

Order the hardcopy. [ PDF ]

RELATED DOCUMENTS

Monetary and Financial Integration in East Asia Early Warning Systems for Financial Crises

Contents

---

Tables, Figures and Boxes, Foreword, Acknowledgments, Contributors, Abbreviations

Part I Overview

CHAPTER 1: An Overview of Economic Cooperation and Integration in Asia [ PDF: 288kb | 39 pages ]
Mario B. Lamberte

Conceptual Definitions and Waves of Regionalism

Regional Cooperation and Asia's Place in the World Economy

Regional Cooperation and Integration in Asia: Trade and Investment

Regional Cooperation and Monetary and Financial Integration

Regional Cooperation and Integration in Infrastructure and Associated Software

Prospects and Challenges

References

Part II Regional Cooperation and Integration

CHAPTER 2: Asia’s Reemergence: When Can Asia Reclaim Its Place in the World Economy
Ramgopal Agarwala

Asia’s Place in the World Economy, Year 1 to 2030

Asia’s Prospects for 2002–2030

Risks and Measures to Overcome Them

Conclusion

Appendix 2.1: Toward an Asian Development Paradigm

References

CHAPTER 3: Asian Economic Community: Toward Pan-Asian Economic Integration
Nagesh Kumar

Regional Economic Cooperation in Asia

Relevance of a Pan-Asian Framework for Economic Cooperation

Approaches to Pan-Asian Economic Cooperation

Areas of Regional Economic Integration

Concluding Remarks

References

CHAPTER 4: Sequence of Financial, Trade, and Monetary Regionalism
Ramkishen S. Rajan

Conceptual De.nitions: Cooperation versus Integration

Sequencing of Economic Regionalism: Financial, Monetary, and Trade

Summary and Concluding Remarks

Acknowledgments

References

Part III Trade and Investment

CHAPTER 5: Free Trade Areas in the ESCAP Region: Progress, Challenges, and Prospects
Tiziana Bonapace

Where Do We Come From?

Where Do We Stand Now?

Where Are We Going?

Globalizing Regionalism

Role of ESCAP

Conclusion

Acknowledgments

References

CHAPTER 6: The New Wave of Free Trade Agreements in Asia: With Particular Reference to ASEAN, People’s Republic of China, and India
Ramkishen S. Rajan and Rahul Sen

The New Wave of FTAs in Asia: Areas of Concern

The Economic Rise of the PRC and India

ASEAN-PRC Trade Relations and the ASEAN-PRC FTA

ASEAN-India Trade Relations and the ASEAN-India FTA

Concluding Remarks: Implications for ASEAN

Acknowledgments

Appendix 6.1: Rules of Origin in Singapore’s Selected FTAs

References

CHAPTER 7: Trade and Investment Integration and Cooperation in East Asia: Empirical Evidence and Issues
Masahiro Kawai

Economic Integration through Trade and FDI in East Asia

The FDI-Trade Nexus

Regional Trade Agreements in East Asia

Policy Implications and Lessons

Concluding Remarks

Acknowledgments

References

Part IV Money and Finance

CHAPTER 8: Real and Pseudo Preconditions for an Asian Monetary Union
Barry Eichengreen

Preconditions

Pseudo Preconditions

Conclusion

References

CHAPTER 9: Macroeconomic Interdependence in East Asia: Empirical Evidence and Issues
Masahiro Kawai and Taizo Motonishi

Recent Macroeconomic Developments in East Asia

Regional Macroeconomic Interdependence

Analyses of Fundamental Macroeconomic Shocks

Regional Policy Coordination in East Asia

Concluding Remarks

Acknowledgments

References

CHAPTER 10: Monetary and Financial Integration in Asia: Empirical Evidence and Issues
Gordon de Brouwer

Progress So Far

Issues in Integration

Future Steps

The Role of Multilateral Institutions

Concluding Comments

Acknowledgments

References

Part V Infrastructure and Associated Software

CHAPTER 11: Infrastructure Networks to Extend Regional Production Networks to Inland Sites in Asia
John Moon and R. Alexander Roehrl

Globalization and Infrastructure Networks

Network Infrastructure, Development, and Poverty

General Network Characteristics

Regionalization and Related Issues in Developing Intercountry Infrastructure Networks

Regionalism: Government-Level Regional Cooperation in Infrastructure

Systemic Risks from Increased Regional Integration

Strategies, Programs, and Activities for Consideration

References

CHAPTER 12: Increased Connectivity in Asia: Empirical Evidence and Issues
Hong Song

A Review of Regional Infrastructure Developments in Asia

The Nature of Cross-Border Infrastructure Development in Asia

Issues Related to Cross-Border Infrastructure Development

The Way Forward

Acknowledgments

References

CHAPTER 13: Effect of Transaction Costs on International Integration in the Asian Economic Community
Prabir De

Regionalism in Asia

Data and Methodology

Income, Infrastructure, and Trade in AEC

Impact of Infrastructure, Income, and Transaction Costs on Trade in AEC

Conclusion

Acknowledgments

References