Economic Implications of the Regional Comprehensive Economic Partnership for Asia and the Pacific
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This paper evaluates the impact of the Regional Comprehensive Economic Partnership (RCEP) on global and regional incomes, trade, economic structure, factor returns, and employment.
The RCEP has the potential to shape trade and investment patterns in Asia and the Pacific well into the future and to influence the direction of global economic cooperation at a challenging time. Results of the study presented in this paper suggest that the RCEP could generate sizable global income gains. Together with the Comprehensive and Progressive Agreement on Trans-Pacific Partnership, it is also expected to strengthen the region’s manufacturing supply chains, raising productivity and increasing wages and employment.
Contents
- Introduction
- The Regional Comprehensive Economic Partnership Agreement
- Modeling the Effects of the Regional Comprehensive Economic Partnership Agreement
- Estimates of the Effects of the Regional Comprehensive Economic Partnership Agreement and Other Policies
- Conclusion
- Appendix
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Published Versions
Park, Cyn-Young, Peter A. Petri, and Michael G. Plummer. 2021. "The Economics of Conflict and Cooperation in the Asia-Pacific: RCEP, CPTPP and the US-China Trade War." East Asian Economic Review 25 (3): 233–72. https://dx.doi.org/10.11644/KIEP.EAER.2021.25.3.397.
Note: ADB recognizes "China" as the People's Republic of China.