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Globalization facilitates economic growth, improvement in resource allocation, and the promotion of technological progress. But it has its costs such as increased income inequality and potential environmental damage. Similarly regionalization has its benefits and costs. For example, the benefits of pooling labor and information sharing resulting from regionalization are also associated with the costs...
In the earlier chapter (Chapter 5) we have seen that trade pattern influences the composition and scale of exports that ultimately change the industrial output growth, export and import growth which, it is expected, will impact the environment.
We have discussed in Chapter 4 about the GTAP model which is implemented to estimate the economic impact of the regional integration. The recursive updating procedure is used to update the GTAP data of version 6. The model has been run to analyze the economic impacts of several simulated regional trade agreement scenarios. The regional trade agreements decreased import tariff restrictions and export...
The most widely recognized method to undertake a global trade analysis is with a Multiregional Computable General Equilibrium (CGE) model. The Multiregional CGE modeling framework that has been used to undertake the analysis of the current study is produced by the Center for Global Trade Analysis at Purdue University, USA. The database and model is called the Global Trade Analysis Project (GTAP) (Hertel,...
‘The natural benchmark for thinking about international economic integration is to consider a world in which markets for goods, services, and factors of production are perfectly integrated’ (Rodrik, 1999). Economic integration among the East and South East Asian countries has been an important agenda item for the academic and policy communities in recent years.
The East and Southeast Asia has occupied an important position in the wider Asian economy, linking China and the Far East with India and the Middle East, and has also played a major role in the world-economy during last few decades (Dixon, 1991).
In Section 3.3 of Chapter 3 we have reviewed the environmental problem of the East and South East Asian countries. We also discuss the policies adopted by the respective government.
The process of globalization including trade liberalization generated a number of agreements all over the world, varying from bilateral preferential trade agreements to world-scale integrations like the European Union. Bhagwati (1993) recognizes two waves of creation of RTAs. The first one took place in the1960s and 1970s and did not spread beyond Western Europe. The second one started in the 1980s...
In recent years, the East and South East Asian region has witnessed a rapid expansion of regional economic cooperation through bilateral and plurilateral free trade agreements. The current book attempts to comprehensively analyze the economic and environmental impacts of regional economic integration in East and South East Asia to the year 2020. This region has some of the fastest growing economies...
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