Regional Integration in East Asia : Challenges and Opportunities, Part 2. Trade, Finance, and integration

Regional Integration in East Asia : Challenges and Opportunities, Part 2. Trade, Finance, and integration

The authors analyze the patterns of East Asia's trade and foreign direct investment (FDI) from a global and intraregional perspective, taking into account the importance of trade and FDI interlinkages. They propose two regionally-focused appro...

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Bibliographic Details
Main Authors: Sakakibara, Eisuke, Yamakawa, Sharon
Format: Policy Research Working Paper
Language:English
en_US
Published: World Bank, Washington, DC 2014
Subjects:
ACCESS TO INFORMATION
AVERAGE TRADE
CAPITAL ACCOUNT
CAPITAL MARKET
CAPITAL MARKETS
COMPARATIVE ADVANTAGE
COMPARATIVE ADVANTAGES
COMPETITIVE ADVANTAGES
COMPETITIVENESS
CROWDING OUT
CURRENCY
DEBT
DEVELOPED COUNTRIES
ECONOMIC DEVELOPMENT
ECONOMIC HISTORY
ECONOMIES OF SCALE
EXPORT PATTERNS
EXPORT SHARE
EXPORT SHARES
EXPORTS
EXTERNALITIES
FINANCE
FLOATING REGIMES
FOREIGN AFFILIATES
FOREIGN DIRECT INVESTMENT
FOREIGN EXCHANGE
FOREIGN INVESTMENT
FOREIGN INVESTORS
FOREIGN TRADE
GDP
GLOBAL INTEGRATION
GLOBAL MARKETS
GROWTH RATE
IMPORTS
INCOME
INTERNATIONAL ORGANIZATIONS
INTERNATIONAL PRODUCTION
INTRAREGIONAL TRADE
LIVING STANDARDS
MACROECONOMIC POLICIES
MACROECONOMIC STABILITY
MEASURE OF TRADE
MULTILATERAL APPROACH
NATURAL RESOURCES
OPENNESS
ORGANIZATIONAL STRUCTURE
PATTERN OF TRADE
PATTERNS OF TRADE
PREFERENTIAL ARRANGEMENTS
REGIONAL INTEGRATION
REGIONALISM
SHARE OF WORLD EXPORTS
TAX SYSTEMS
TOTAL FACTOR PRODUCTIVITY
TRADE
TRADE FLOWS
TRADE INTENSITY
TRADE INTENSITY INDICES
TRADE MORE
TRADING PARTNERS
TRANSPARENCY
VALUE OF EXPORTS
WORLD TRADE
WTO FOREIGN DIRECT INVESTMENTS
TRADE POLICY
REGIONAL TRADE AGREEMENTS
FINANCIAL LIBERALIZATION
EAST ASIA
SWAP TRANSACTIONS
MACROECONOMIC POLICY
FINANCIAL REGULATION
FLOATING RATE PARTICIPATION
FOREIGN DIRECT INVESTMENTS
WTO
Online Access:http://documents.worldbank.org/curated/en/2003/06/2390976/regional-integration-east-asia-challenges-opportunities-part-ii-trade-finance-integration
http://hdl.handle.net/10986/18174
Description
Summary:The authors analyze the patterns of East Asia's trade and foreign direct investment (FDI) from a global and intraregional perspective, taking into account the importance of trade and FDI interlinkages. They propose two regionally-focused approaches to promoting trade and FDI in East Asia-regional agreements and regional production networks. The East Asia crisis strengthened appeals for regional cooperation in the financial area. As a result, a number of financial arrangements and initiatives have emerged since the crisis, the most prominent of these, the Chiang Mai Initiative. (The Association of Southeast Asian Nations plus China, the Republic of Korea, and Japan decided at their meeting in Chiang Mai, Thailand, in May 2000, to establish a regional network of swap arrangements.) While opening of the capital account is considered desirable in the long run, it is associated with considerable risk, particularly if macroeconomic policies are not sound and financial supervision and regulation is weak. Because of the potential volatility associated with floating regimes and the desire to avoid another crisis in the region, the authors discuss a number of options.

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