Imperatives of Regional Economic Integration in Asia in the Context of Developmental Asymmetries: Some Policy Suggestions
Das, Ram Upendra | December 2009
Abstract
Regional economic integration agreements are considered to be important policy mechanisms to address regional developmental asymmetries. The Asian reality is characterized by developmental asymmetries across countries on the one hand and a lack of comprehensive pan-Asian formal regional economic integration agreements on the other. The need for such regional agreements is of paramount importance given the phenomenal economic performance of Asia. Against this backdrop this paper tries to describe the nature and extent of developmental and growth asymmetries in Asia. Some conceptual aspects of growth asymmetries are summarized before undertaking an econometric exploration of growth convergence in the Asian region in comparison to some other prominent regions of the world. The paper finds some evidence of growth divergence among East Asia Summit (EAS) countries though it is statistically not significant. This divergence, combined with a strong logic for developingdeveloping and developed-developing inter-country cooperation in the EAS region help the paper to make some policy suggestions, especially regarding enabling the less developed countries of EAS to achieve global market access in order to assist development and growth convergence in the region.
Citation
Das, Ram Upendra. 2009. Imperatives of Regional Economic Integration in Asia in the Context of Developmental Asymmetries: Some Policy Suggestions. © Asian Development Bank. http://hdl.handle.net/11540/3760. License: CC BY 3.0 IGO.Keywords
Trade Facilitation
Trade
Economic integration
Regional Economic Integration
Free Trade
Trade Agreements
Trade Policy
Economic Development
Economics
International Economics
Intraregional Trade
Economic planning
Economic structure
Growth policy
Trade relations
Trade policy
Trade policy
Economic development
Regional economics
Economic forecasting
Economic development projects
Success in business
Business
Free trade
Business
Economics
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