REGIONAL ECONOMIC INTEGRATION AND ITS IMPACTS ON GROWTH, POVERTY AND INCOME DISTRIBUTION: THE CASE OF VIETNAM

Tien Dung Nguyen and Misuo Ezaki

Review of Urban & Regional Development Studies, 2005, vol. 17, issue 3, 197-215

Abstract: Trade liberalization and regional economic integration have recently accelerated in East Asia, where several free trade areas have been established or are under negotiation. Vietnam, after acquiring Association of Southeast Asian Nations (ASEAN) membership in 1995, has signed a bilateral trade package with the United States and participated in the China†ASEAN free trade area. This paper attempts to analyze the impact on Vietnam of ongoing regional economic integration, focusing on growth, poverty reduction and income distribution. For this purpose, we have constructed a globally linked Computable General Equilibrium (CGE) model and made use of Global Trade Analysis Project (GTAP) database version 6.0 and Vietnam's living standards surveys. The simulation analysis shows that the regional economic integration generally has a positive impact. It both enhances welfare and improves income†distribution for Vietnam. Household income and consumption increase, and poor and rural household groups benefit more than urban high income groups.

Date: 2005
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