Regionalism Versus Multilateral Trade Arrangements

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Overview

There is no doubt that the open multilateral trading system after World War II was a key ingredient in the rapid economic development of the entire world. Especially in Hong Kong, Korea, Singapore, and Taiwan, exports increased dramatically both in absolute terms and as a percentage of GNP. In the 1980s, however, preferential trading arrangements (PTAs) began to emerge as significant factors affecting world trade. This volume contains thirteen papers that analyze the tensions between multilateral trading systems and preferential trade arrangements and the impact of these tensions on East Asia. The first four chapters introduce PTAs conceptually and focus on the unique political issues that these agreements involve. The next five essays present more direct empirical analyses of existing PTAs and their economic effects, primarily in East Asia. The last four papers concentrate on the outcomes of individual East Asian nations' trading policies in specific instances of preferential agreements.

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Editorial Reviews

Booknews
Contains edited versions of 13 papers presented at a June 1995 seminar held in Seoul, Korea, analyzing tensions between multilateral trading systems and preferential trade arrangements (PTAs) and the impact of these tensions on East Asia. Early chapters introduce PTAs conceptually and focus on unique political issues these agreements involve. Later chapters present empirical analyses of existing PTAs and their economic effects in East Asia, and look at outcomes of individual East Asian nations' trading policies in specific instances. Annotation c. by Book News, Inc., Portland, Or.
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Product Details

Table of Contents

Acknowledgments
Introduction
Takatoshi Ito, Anne O. Krueger.
1: Problems with Overlapping Free Trade Areas
Anne O. Krueger
2: The Political Economy of Mexico's Entry into NAFTA
Aaron Tornell, Gerardo Esquivel.
Comment: Wontack Hong
3: Social Policy Dimensions of Economic Integration: Environmental and Labor Standards
Kym Anderson
Comment: Menzie D. Chinn
Comment: Chong-Hyun Nam
4: EU, NAFTA, and Asian Responses: A Perspective from the Calculus of Participation
Junichi Goto, Koichi Hamada.
Comment: Tamim Bayoumi
Comment: Wontack Hong
5: Open versus Closed Trade Blocs
Shang-Jin Wei, Jeffrey A. Frankel.
Comment: Taeho Bark
6: Is Regionalism Simply a Diversion? Evidence from the Evolution of the EC and EFTA
Tamim Bayoumi, Barry Eichengreen.
Comment: Francis T. Lui
Comment: Chong-Hyun Nam
7: Asia Pacific Capital Markets: Integration and Implications for Economic Activity
Menzie D. Chinn, Michael Dooley.
Comment: Koichi Hamada
Comment: Aaron Tornell
8: Recent Developments of APEC: Issues and Prospects of the Osaka Agenda Ippei Yamazawa
Comment: Chia Siow Yue
9: A Perspective on the Effects of NAFTA on Korea
Honggue Lee
Comment: Tain-Jy Chen
10: Regionalism and Subregionalism in ASEAN: The Free Trade Area and Growth Triangle Models
Chia Siow Yue
Comment: Mario B. Lamberte, Menzie D. Chinn, Michael Dooley.
Comment: Koichi Hamada
Comment: Aaron Tornell
8: Recent Developments of APEC: Issues and Prospects of the Osaka Agenda
Ippei Yamazawa
Comment: Chia Siow Yue
9: A Perspective on the Effects of NAFTA on Korea
Honggue Lee
Comment: Tain-Jy Chen
10: Regionalism and Subregionalism in ASEAN: The Free Trade Area and Growth Triangle Models
Chia Siow Yue
Comment: Mario B. Lambert, Yujiro Hayami, Yoshihisa Godo.
Comment: Ammar Siamwalla
Comment: Kym Anderson
Contributors
Name Index
Subject Index

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