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    Liberalization and Foreign Direct Investment in Asian Transport Systems: The Case of Aviation

    Finlay, Christopher; Goldstein, Andrea | June 2004
    Abstract
    The aviation industry is critical for Asia to gain from participation in the global economy. The airline industry in developing Asia is generally dominated by state-owned enterprises, and the record of state ownership is poor. Foreign direct investment would provide the managerial and technical skills needed to improve productivity. Paradoxically, however, this is an industry that combines extensive cross-border activities with almost insurmountable obstacles to foreign investment. Airline alliances and marketing arrangements have emerged as an imperfect substitute to consolidation through (cross-border) mergers and acquisition. This paper sketches the main features of international air transport, focusing in particular on the bilateral and multilateral regimes; presents the main characteristics of the developing Asia market and the specific Association of Southeast Asian Nations and Asia-Pacific Economic Cooperation forum objectives in this domain; analyzes ongoing developments in selected countries, in particular in privatizing flag carriers in India and Thailand and consolidating airlines in People’s Republic of China; and concludes by putting findings from the region in the wider context of experiences in other developing regions and regulatory development at the multilateral level, including at the World Trade Organization.
    Citation
    Finlay, Christopher; Goldstein, Andrea. 2004. Liberalization and Foreign Direct Investment in Asian Transport Systems: The Case of Aviation. © Asian Development Bank. http://hdl.handle.net/11540/5420.
    Keywords
    Development Economics
    Regional Economic Development
    Economic Impact
    Asian Development Bank
    Development
    Economic Boom
    Regional Economic Integration
    Good Governance
    Governance Approach
    Economic planning
    Economic structure
    Growth policy
    Trade relations
    Trade policy
    Trade policy
    Economic development
    Economies in transition
    International economy
    Border integration
    Economic integration
    Gross domestic product
    Trade policy
    Institutional Framework
    Public Administration
    Business Ethics
    Regional economics
    Economic forecasting
    Economic development projects
    Success in business
    Business
    Free trade
    Business
    Economics
    Communication in economic development
    Restraint of trade
    International economic integration
    Trade blocs
    East-West trade
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    Citable URI
    http://hdl.handle.net/11540/5420
    Metadata
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    Author
    Finlay, Christopher
    Goldstein, Andrea
    Theme
    Economics
    Governance
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise