East Asia Integrates : A Trade            Policy Agenda for Shared Growth

Krumm, Kathie; Kharas, Homi

East Asia Integrates : A Trade Policy Agenda for Shared Growth

Autores

Krumm, Kathie

Kharas, Homi

Editor

Washington, DC: World Bank and Oxford University Press

Descripción

Rapid and sustained growth in international trade has long been a hallmark of successful growth and development strategies in East Asia. Some success stories are well known: those of the newly industrializing economies (NIEs) such as the Republic of Korea, as well as middle-income economies such as Malaysia and the transition economy of China. More recent entrants to world markets that have seen rapid export growth include low-income economies such as Cambodia and Vietnam. Trade has been an important factor in growth in the region, enabling progress in poverty reduction. Although the 1997-98 financial crisis interrupted this progress, recovery since then has brought poverty rates in every emerging economy in the region to record lows, and in economies like that of Vietnam, trade growth has brought with it a rapid reduction in poverty. Intraregional trade in East Asia has grown faster than trade with any other market, and while the largest economies account for the bulk of this trade, the regional trade of most smaller economies has also grown. Trade integration has been marketled, stemming from a combination of unilateral reforms, fulfillment of multilateral commitments, and a pattern of relocation of production processes (see Kawai and Urata 2002). Intraregional trade has been driven not only by growing demand but increasingly by improved competitiveness in regional markets, as reflected in increased market shares (Figure 1). China has been particularly dynamic, but almost all countries increased their competitiveness in regional markets during 1995-2001.9 This increase was accomplished without loss of competitiveness in other markets; East Asia continued to expand its market shares in the European Union (EU) and North American Free Trade Agreement (NAFTA) markets in the same period.

Palabras clave

AGRICULTURAL PROTECTION, AGRICULTURE, APPLIED TARIFF, AVERAGE TARIFFS, BILATERAL AGREEMENTS, BILATERAL TRADE, CAPITAL ACCUMULATION, CENTRAL BANKS, COMPARATIVE ADVANTAGE, COMPETITIVENESS, COUNTRY MARKETS, CURRENCY, CUSTOMS, CUSTOMS CLEARANCE, DEVELOPMENT STRATEGIES, ECONOMIC COOPERATION, ECONOMIC CRISIS, ECONOMIC GROWTH, ECONOMIC INTEGRATION, ECONOMIC POLICY, ECONOMIC WELFARE, EMPIRICAL ANALYSIS, EMPLOYMENT, ENVIRONMENTAL POLICY, ENVIRONMENTAL STANDARDS, EXCHANGE RATE, EXPORT GROWTH, EXPORT MARKETS, EXPORT ORIENTATION, EXPORTERS, EXPORTS, FINANCIAL CRISIS, FOREIGN DIRECT INVESTMENT, FREE TRADE, FREE TRADE AREA, GDP, GLOBAL LIBERALIZATION, GLOBAL TRADE, GROWTH RATES, HUMAN CAPITAL, IMPORT PROTECTION, IMPORT TARIFFS, IMPORTS, INCOME INEQUALITY, INTEREST GROUPS, INTERNATIONAL PRODUCTION, INTERNATIONAL TRADE, INTRAREGIONAL TRADE, INVESTMENT FLOWS, INVESTMENT POLICIES, INVESTOR CONFIDENCE, LABOR MARKET, LABOR MARKETS, LABOR STANDARDS, LEGAL STATUS, LIBERALIZATION OF TRADE, LIQUIDITY, LOW-INCOME COUNTRIES, MACROECONOMIC STABILITY, MARKET ACCESS, MARKET SHARE, MARKET SHARES, MARKET SIZE, MTN, MULTILATERAL COMMITMENTS, NEGOTIATING POSITIONS, NONTARIFF BARRIER, NONTARIFF BARRIERS, NONTARIFF MEASURES, OPENNESS, PATENTS, POLICY INTEGRATION, POLLUTION, PREFERENTIAL TRADING, PREFERENTIAL TRADING ARRANGEMENTS, PRODUCER SERVICES, PRODUCERS, PRODUCTION NETWORKS, PRODUCTION PROCESSES, PRODUCTIVITY, QUANTITATIVE RESTRICTIONS, REAL INCOME, REAL WAGES, REGIONAL INSTITUTIONS, REGIONAL INTEGRATION, REGIONAL MARKETS, REGIONAL TRADE, REGIONAL TRADE ARRANGEMENTS, REGIONAL TRADING ARRANGEMENTS, REGIONALISM, SAFETY NETS, SAVINGS, SHARE OF WORLD EXPORTS, SOCIAL STABILITY, SUBSIDIARY RIGHTS, TARIFF LEVELS, TARIFF RATES, TAX REVENUE, TELECOMMUNICATIONS, THIRD-COUNTRY MARKETS, TRADE AGREEMENT, TRADE BARRIERS, TRADE CLASSIFICATION, TRADE COMPETITIVENESS, TRADE FACILITATION, TRADE GROWTH, TRADE INTEGRATION, TRADE NEGOTIATIONS, TRADE POLICY, TRADE PROTECTION, TRADE STRUCTURE, TRADE TREATIES, TRADING PARTNERS, TRANSITION ECONOMY, TRANSPORT COSTS, VALUE ADDED, WAGES, WELFARE IMPACTS, WORKER RIGHTS, WORLD MARKETS, WORLD TRADE, WORLD TRADE ORGANIZATION, WTO TRADE POLICY, SHARED GROWTH, TRADE AGREEMENTS, EXPORT DATA, EXPORT MARKETS, AGRICULTURAL ASPECTS, WELFARE ECONOMICS, TRANSPORT COSTS, LIBERALIZATION, INVESTMENTS, PROPERTY RIGHTS, ENVIRONMENTAL STANDARDS, TRADE REFORM, HOUSEHOLDS, SOCIAL STABILITY, INCOMES, SOCIAL PROTECTION, FREE TRADE AGREEMENTS, PORT ACCESS, AIR FREIGHT