The Post-Crisis Sequencing of Economic Integration in Asia: Trade as a Complement to a Monetary Future

Michael Plummer and Ganeshan Wignaraja

Economie Internationale, 2006, issue 107, 59-85

Abstract: Bilateral and regional cooperation initiatives in Asia have been growing in importance over the last five years. These accords span the real and financial sectors; rather than following the more typical pattern of “trade first, money later”, recent policy initiatives involve the simultaneous implementation of trade and monetary/financial accords. Given this sequence, is there a case for monetary union in East Asia? Is there a case for expanded free-trade areas (FTAs) in the region? This paper argues that, at present, the post-sequencing of economic integration in Asia is developing such that trade agreements will ultimately complement the movement toward financial and monetary integration. While the political exigencies associated with monetary union pose serious challenges, it is argued that FTAs should help relax this constraint.

Keywords: Economic integration; asian free-trade areas; monetary union; trade policy; regional integration; monetary block; international trade (search for similar items in EconPapers)
JEL-codes: F1 F10 F13 F15 F42 O24 (search for similar items in EconPapers)
Date: 2006
References: Add references at CitEc
Citations: View citations in EconPapers (23)

Downloads: (external link)
http://www.cepii.fr/IE/rev107/ei107c.htm (text/html)

Related works:
Working Paper: The Post-Crisis Sequencing of Economic Integration in Asia: Trade as a Complement to a Monetary Future (2007)
Working Paper: The Post-Crisis Sequencing of Economic Integration in Asia: Trade as a Complement to a Monetary Future (2007)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cii:cepiei:2006-3tc

Access Statistics for this article

More articles in Economie Internationale from CEPII research center Contact information at EDIRC.
Bibliographic data for series maintained by ().