Trade Policy and Growth in Asia
Kawai, Masahiro; Wignaraja, Ganeshan | August 2014
Abstract
This paper examines the changing relationship between trade policy, production networks, and economic growth in Asia. It traces East Asia’s rise to the coveted “Factory Asia” league with rapid growth over several decades through trade policy anchored on outward-oriented industrialization strategies, including a voluntary liberalization approach under the Asia-Pacific Economic Cooperation (APEC) and a multilateral approach under the General Agreement on Tariffs and Trade (GATT)/World Trade Organization (WTO) system. It explores the implications of various stresses to the performance of Factory Asia such as the consequences of the global financial crisis, the risk of protectionism, the persistence of residual behind-the-border regulatory barriers, the failure to conclude ambitious WTO multilateral trade negotiations, and the relative exclusion of small and medium-sized enterprises (SMEs). Next, it examines the evolving trade policy response in major East Asian economies centered on free trade agreements (FTAs) to support the functioning of Factory Asia and key policy challenges posed by FTAs, including the insufficient depth of FTAs, the risk of an Asian noodle bowl of multiple rules of origin, the potential for raising use of FTA preferences, and the emergence of mega-regional FTA negotiations. Finally, it considers policy implications at the national, regional, and global levels for supporting Factory Asia and growth in Asia.
Citation
Kawai, Masahiro; Wignaraja, Ganeshan. 2014. Trade Policy and Growth in Asia. © Asian Development Bank Institute. http://hdl.handle.net/11540/1103. License: CC BY-NC-ND 3.0 IGO.Keywords
Asian Development Bank
Development
Trade
Development Goals
Skills Development
Sustainable Development
Trade Flows
Trade And Development
Food Security And Trade
Development assistance
ADB
Curriculum development
Development assistance
Development aid
Development indicators
Development potential
Development models
Project appraisal
Performance appraisal
Regional development bank
Trade development
Import volume
Export volume
Capital
Business
Communication in rural development
Social participation
Occupational training
Partnership
Joint venture
System analysis
Labor and globalization
Labor policy
Regional trading blocs
Foreign trade and employment
Show allCollapse
Citable URI
http://hdl.handle.net/11540/1103Metadata
Show full item recordUsers also downloaded
-
Annual Report 2014: Operational Data
Asian Development Bank (Asian Development Bank, 2015-01-01)The page has additional information for the ADB Annual Report 2014. In 2014, the Asian Development Bank (ADB) approved $22.93 billion in development assistance, including $13.69 billion financed by ADB’s ordinary capital resources and special funds, and a record $9.24 billion by cofinancing partners. Disbursements totaled $10.01 billion, an increase of $1.47 billion (17%) from 2013, and the first ...The page has additional information for the ADB Annual Report 2014. In 2014, the Asian Development Bank (ADB) approved $22.93 billion in development assistance, including $13.69 billion financed by ADB’s ordinary capital resources and special funds, ... -
Institutions for Economic and Financial Integration in Asia: Trends and Prospects
Capannelli, Giovanni (Asian Development Bank, 2011-09-15)Asian economic regionalism has emerged from a bottom-up process, driven by market forces in the absence of a grand plan for regional integration. While the financial crisis of 1997–98 triggered new regional cooperation initiatives, more recently several Asian political leaders have formulated proposals for the creation of a regional economic community, suggesting the possible start of a top-down ...Asian economic regionalism has emerged from a bottom-up process, driven by market forces in the absence of a grand plan for regional integration. While the financial crisis of 1997–98 triggered new regional cooperation initiatives, more recently several ... -
Aceh-Nias Reconstruction and Rehabilitation: Progress and Challenges at the End of 2006
Nazara, Suahasil; Resosudarmo, Budy P. (Asian Development Bank, 2007-06-30)This study examines the recovery and reconstruction experience of Indonesia, following the December 2004 Asian tsunami that destroyed much of Aceh island, inflicting some 167,000 fatalities and destroying much of the island's housing and infrastructure. This was followed soon after by a major earthquake in the neighbouring island of Nias. A large reconstruction programme was launched by the government, ...This study examines the recovery and reconstruction experience of Indonesia, following the December 2004 Asian tsunami that destroyed much of Aceh island, inflicting some 167,000 fatalities and destroying much of the island's housing and infrastructure. ...