Characteristics and prospects for East Asian economic integration: a Korean perspective |
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| Authors: | Chang Jae Lee |
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| Affiliation: | (1) Korea Institute for International Economic Policy (KIEP), Seoul, Korea |
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| Abstract: | In terms of economic regionalism, East Asia lags far behind other major regions. It was only recently that institutionalization
of regional economic integration was started among East Asia countries. However, functional economic integration has continuously
proceeded among East Asian economies even without a region-wide RTA. This paper analyzes the trends of functional economic
integration both in terms of trade and foreign direct investment (FDI) among East Asian economies, and reviews recent developments
of economic regionalism in East Asia. It also addresses the prospects for a region-wide FTA in East Asia and draws some policy
implications for East Asian countries at this juncture of economic regionalism in East Asia.
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| Keywords: | East Asia Economic integration FTA |
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