Economic Integration in East Asia and Europe: A Comparison

Werner Pascha

No 68, Duisburg Working Papers on East Asian Economic Studies from University Duisburg-Essen, Asia-Pacific Economic Research Institute (FIP)

Abstract: Different starting conditions and decision-making mechanisms of European and East Asian economic integration are identified. They have led to different paths of integration. The EU process had a major impact on political stability in Europe; it has increased economic stability, at the expense of dynamism and possible over-extension, though. East Asia still has rather liquid mechanisms. This allowed it to exploit its economic potentials flexibly, relying on open world markets. With new problems on the multilateral level, East Asia reacts with various moves, increasing intransparency. Both regions have in the past played out their respective advantages well. Both face limits now. The former paths cannot simply be extended, and doubts remain whether convincing regional strategies have already been found.

Keywords: Regional economic integration; regional monitoring; East Asia; Europe (search for similar items in EconPapers)
Date: 2004
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Citations: View citations in EconPapers (1)

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