This paper will examine the level of services trade integration in Asia in comparison with Europe and North America. The main empirical findings of this paper are that: (i) the regional bias of services trade in Asia is as high as or higher than in Europe and North America; (ii) in Asia, the regional bias of services trade is higher than that of goods trade, which is in sharp contrast to Europe and ...

This paper focuses on post-Soviet regional integration as a special case where integration projects are established by countries that originally comprised a single political entity after its collapse. It shows that in this framework the existing economic ties between countries are likely to affect adversely the interest of functional bureaucracy to support regional integration given that cutting ...

This paper examines the impact of intra-Asia exchange rate volatility on intra-Asia trade in primary goods, intermediate goods, equipment goods and consumption goods from 1980 to 2009. For Asia, the evidence shows that as intraregional exchange rate volatility increases, intraregional exports in these goods fall. This adverse impact is even more pronounced in the subregion of Association of Southeast ...

This study examines how the volatility and liquidity of 10 Asian exchange rates against the US dollar change with volatilities in commodity price and carry trade over the period of January 2000 to June 2010. We find that uncertainties in commodity markets and carry trades are significantly correlated with the volatilities and the bid-ask spreads of most Asian currencies. The correlation with carry ...

In this paper, we examine the differences in the measures of: (i) profits of an enterprise obtained from a detailed set of questions on incomes and expenses of the enterprise, versus profits obtained through a single direct question; and (ii) gross value added (GVA) obtained using the production approach as the difference between output and intermediate consumption from a detailed set of questions ...

This paper aims to gauge the impact of the global financial crisis on bilateral holdings of financial assets among East Asian countries. For this purpose, this paper uses the International Monetary Fund's Coordinated Portfolio Investment Survey (CPIS) data. We first present information about financial linkages between the CPIS-participating eight East Asian economies and other East Asian economies ...

The recent commodity price boom resulted from rising demand in the face of a long period of low supply growth and market distortions. Structural factors are expected to return international commodity prices to relatively high levels as the global economy recovers. The Asian and Pacific economies and the region's poor will be among the most exposed to a rebound in prices. The recent response to high ...

For the last 15 years, computers and electronic goods have been the leading export categories from East Asia to the rest of the world. They are produced within regional production and distribution networks. Japan, South Korea and Taipei, China, construct technology-intensive parts and components and ship them to China and ASEAN for processing by lower-skilled workers and reexport. This paper presents ...

Private investment in Malaysia has never fully recovered from the impact of the Asian Financial Crisis (AFC). Both domestic and foreign investment have remained lackluster post-AFC; while foreigners continue to shun Malaysia, it seems even domestic investors are fleeing as well, with Malaysia having become a net exporter of capital since 2005. Malaysia continues to grow but, without private investment, ...

We develop a method to map global network production and vertical trade. Based on product-level trade data across a matrix of 75 countries, an index measures the intensity of bilateral vertical trade and a force-directed algorithm lays it out for visualization as a world map of production networks. Three major hubs in the global networks are identified: the USA, Germany and China–Japan. Outside Asia ...