The Trans-Pacific Partnership and Asia-Pacific Integration: A Quantitative Assessment

The Trans-Pacific Partnership and Asia-Pacific Integration: A Quantitative Assessment

by Peter A. Petri
     
 

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While global trade negotiations remain stalled, two tracks of trade negotiations in the Asia-Pacific-the proposed Trans-Pacific Partnership (TPP) agreement and a parallel Asian track-could generate momentum for renewed liberalization and provide pathways to region-wide free trade. This book investigates what these trade negotiations could mean to the world economy.

Overview

While global trade negotiations remain stalled, two tracks of trade negotiations in the Asia-Pacific-the proposed Trans-Pacific Partnership (TPP) agreement and a parallel Asian track-could generate momentum for renewed liberalization and provide pathways to region-wide free trade. This book investigates what these trade negotiations could mean to the world economy. Petri, Plummer, and Zhai estimate that world income would rise by $295 billion per year on the TPP track, by $766 billion if both tracks are successful, and by $1.9 trillion if the tracks ultimately combine to yield region-wide free trade. They find that the tracks are competitive initially but their strategic implications appear to be constructive: the agreements would generate incentives for enlargement and mutual progress and, over time, for region-wide consolidation. The authors conclude that the crucial importance of Asia-Pacific integration argues for an early conclusion of the TPP negotiations, but without jeopardizing the prospects for region-wide or even global agreements based on it in the future.

Product Details

ISBN-13:
9780881326659
Publisher:
Peterson Institute for International Economics and East-West Center
Publication date:
11/15/2012
Series:
Policy Analyses in International Economics , #98
Sold by:
Barnes & Noble
Format:
NOOK Book
File size:
7 MB

Meet the Author

Peter A. Petri, visiting fellow at the Peterson Institute for International Economics, is the Carl J. Shapiro Professor of International Finance in the International Business School of Brandeis University and a senior fellow of the East-West Center. From 1994 to 2006, he served as the founding dean of the International Business School. Petri is coauthor of The Trans-Pacific Partnership and Asia-Pacific Integration: A Quantitative Assessment (2012). He has held appointments as visiting scholar or professor at the Organization for Economic Cooperation and Development (OECD), Keio University, and Fudan University, and as Fulbright Research Scholar and Brookings Policy Fellow. He has consulted for the Asian Development Bank, the Asian Development Bank Institute, the World Bank, the OECD, the United Nations, and the governments of the United States and other countries. He has been a member of the editorial boards of the Association for Southeast Asian Nations (ASEAN) Economic Bulletin, Journal of Asian Economics, and Singapore Economic Review. He is active in US-Asia affairs and is a member of the Board of the US Asia Pacific Council, the International Advisory Group of the Pacific Economic Cooperation Council (PECC) Trade Policy Forum, and the International Steering Committee of the Pacific Trade and Development Conference Series (PAFTAD). He is a former chair of the US Asia-Pacific Economic Cooperation (APEC) Study Center Consortium.

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