Is the ASEAN-Korea Free Trade Area (AKFTA) an Optimal Free Trade Area?
Park, Donghyun; Park, Innwon; Estrada, Gemma Esther B. | November 2008
Abstract
The 1997/98 Asian currency crisis has led a once high-flying East Asia to realize its vulnerability
to external shocks. This realization has given strong impetus to greater economic integration
among East Asian economies, with the ASEAN-Korea Free Trade Area (AKFTA) a case in point.
This paper qualitatively and quantitatively examines the economic feasibility of AKFTA:
qualitatively using the theory of economic integration, and quantitatively by applying a CGE
model. Our two-dimensional analysis provides some, but not overwhelming, support for
AKFTA’s prospects as an effective means of promoting trade between ASEAN and the Republic
of Korea.
Citation
Park, Donghyun; Park, Innwon; Estrada, Gemma Esther B.. 2008. Is the ASEAN-Korea Free Trade Area (AKFTA) an Optimal Free Trade Area?. © Asian Development Bank. http://hdl.handle.net/11540/1788. License: CC BY 3.0 IGO.Keywords
Free Trade
Trade
Trade Agreements
Regional Economic Integration
Exports
Economic integration
Exports
Economic integration
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