scholarly journals Economic Implications of the Regional Comprehensive Economic Partnership for Asia and the Pacific

2021 ◽  
Author(s):  
Cyn-Young Park ◽  
Peter A. Petri ◽  
Michael G. Plummer
Keyword(s):  
Computable General Equilibrium ◽  
Computable General Equilibrium Model ◽  
Regional Trade ◽  
Economic Implications ◽  
The Pacific ◽  
Economic Partnership ◽  
Regional Comprehensive Economic Partnership ◽  
Factor Returns ◽  
Investment Patterns ◽  
Trade And Investment

The Regional Comprehensive Economic Partnership (RCEP) presents strong potential to mold regional trade and investment patterns well into the future and to influence the direction of global economic cooperation at a challenging time. This paper evaluates the RCEP’s impact on global and regional incomes, trade, economic structure, factor returns, and employment using a computable general equilibrium model. The results suggest that the RCEP agreement could generate sizable global income gains. Together with the Comprehensive and Progressive Agreement on Trans-Pacific Partnership, the RCEP will also strengthen the region’s manufacturing supply chains, raising productivity and increasing wages and employment.

scholarly journals Economic Implications of Deeper South Asian–Southeast Asian Integration: A CGE Approach

2015 ◽  
Vol 14 (3) ◽  
pp. 63-81 ◽  
Author(s):  
Ganeshan Wignaraja ◽  
Peter Morgan ◽  
Michael G. Plummer ◽  
Fan Zhai
Keyword(s):  
Southeast Asia ◽  
South Asia ◽  
South Asian ◽  
Computable General Equilibrium ◽  
Regional Cooperation ◽  
Computable General Equilibrium Model ◽  
Trade Costs ◽  
Regional Trade ◽  
Economic Implications ◽  
Asian Integration

Using a computable general equilibrium model, this paper estimates the potential gains from deepening integration across South Asia and Southeast Asia. If the two regions succeed in dropping inter-regional tariffs, reducing non-tariff barriers by 50 percent, and decreasing inter-regional trade costs by 15 percent—which the paper suggests are ambitious but nevertheless attainable—welfare in South Asia and Southeast Asia would rise by 8.9 percent and 6.4 percent of GDP, respectively, by 2030. Hence, we conclude that deepening South Asian regional cooperation together with building links to Southeast Asia would pay off rich dividends.

Comparing the Economic Impact of the Trans-Pacific Partnership and the Regional Comprehensive Economic Partnership

2013 ◽  
Vol 12 (2) ◽  
pp. 144-164 ◽  
Author(s):  
Inkyo Cheong ◽  
Jose Tongzon
Keyword(s):  
Economic Impact ◽  
Economic Integration ◽  
Computable General Equilibrium ◽  
Trade Agreement ◽  
The United States ◽  
Computable General Equilibrium Model ◽  
Asia Pacific ◽  
Economic Partnership ◽  
Asean Countries ◽  
Regional Comprehensive Economic Partnership

Several initiatives have emerged for regional economic integration in the Asia-Pacific region. The United States has led the negotiations for the Trans-Pacific Partnership agreement, and ASEAN countries have recently started to promote the Regional Comprehensive Economic Partnership. This paper estimates the net economic impact of these initiatives by eliminating the overlapping portions of free trade agreement–related economic gains through the use of a dynamic computable general equilibrium model. The paper analyzes the economic and political feasibility of these two initiatives and assesses their economic impacts. Finally, the paper provides implications for economic integration in East Asia based on a quantitative assessment.

scholarly journals Taiwan — A Potential Economic Partner of South Asia

2021 ◽  
Vol 02 (01) ◽  
pp. 2150006
Author(s):  
MOHAMMAD MASUDUR RAHMAN
Keyword(s):  
South Asia ◽  
Computable General Equilibrium ◽  
Bilateral Trade ◽  
Manufacturing Sector ◽  
High Tech ◽  
Investment Agreement ◽  
Alternative Markets ◽  
Economic Partnership ◽  
Partnership Agreement ◽  
Trade And Investment

Taiwan is a major hub of the global supply chains and one of the leading investors not only in China but also in other Southeast Asian markets. Although high trade complementary, bilateral trade between South Asia and Taiwan is only about US$ 9 billion, investment has only picked up recently. The computable general equilibrium (CGE) analysis indicates a substantial economic benefit of bilateral tariffs elimination between Taiwan and its South Asian partners. Taiwan has a substantial comparative advantage in producing high tech manufacturing goods while in South Asian’s main strength is in the resource-based agricultural and light manufacturing sector. Taiwan has been maintained a liberalized trade regime with minimal import tariffs and non-tariff measures (NTM) over the decades. As South Asia is booming, and Taiwan is seeking alternative markets and investments opportunities, it is time to deepen a bilateral economic relationship. South Asia is a market of 1.5 billion people with an emerging middle class along with substantial cheaper labor forces, made an ideal place for investment. A comprehensive economic partnership agreement (CEPA) with a preferential trade and investment agreement would be useful to attract Taiwanese multinationals and seamless trade between South Asia and Taiwan.

Újabb megaregionális szabadkereskedelmi egyezmény: az Átfogó Regionális Gazdasági Partnerség (RCEP)

Külgazdaság ◽  
2021 ◽  
Vol 65 (3-4) ◽  
pp. 69-89
Author(s):  
György Csáki
Keyword(s):  
World Trade Organization ◽  
World Trade ◽  
Transatlantic Trade ◽  
Economic Partnership ◽  
Regional Comprehensive Economic Partnership ◽  
Trade And Investment

A tanulmány célja a közelmúltban aláírt Regionális Átfogó Gazdasági Partnerség- (Regional Comprehensive Economic Partnership – RCEP) egyezmény bemutatása és elemzése. A tágan értelmezett előzmények között röviden ismerteti a Transzatlanti Kereskedelmi és Befektetési Partnerség (Transatlantic Trade and Investment Partnership – TTIP), a Transz-csendes-óceáni Partnerség (Trans-Pacific Partnership – TPP) és az Átfogó és Előremutató Csendes-óceáni Partnerség (Comprehensive and Progressive Agreement for Trans-Pacific Partnership – CPTPP) létrejöttének körülményeit is. Ezek a törekvések elválaszthatatlanok attól a ténytől, hogy a Kereskedelmi Világszervezet (World Trade Organization – WTO) 1995. évi megalapítása óta képtelen volt bármilyen fontos sokoldalú megállapodás elérésére, a Vitarendezési Testület tagjainak elmaradt jelölése következtében immár teljesen működésképtelenné vált. Az RCEP (a CPTPP-vel együtt) Ázsia és a csendes-óceáni térség további felértékelődését, ugyanakkor az USA befolyásának gyengülését jelzi a régióban.

Bilateralism will define India’s regional trade policy

2019 ◽  
Keyword(s):  
Trade Policy ◽  
Regional Trade ◽  
Trade Relations ◽  
Economic Partnership ◽  
Regional Comprehensive Economic Partnership

After rejecting the Regional Comprehensive Economic Partnership, Delhi is set to recalibrate its trade relations

Asia-centred trade pacts will proceed with weaknesses

2018 ◽  
Keyword(s):  
United States ◽  
Trade Agreements ◽  
The United States ◽  
Regional Trade Agreements ◽  
Asian Countries ◽  
Regional Trade ◽  
Content Type ◽  
Economic Partnership ◽  
Regional Comprehensive Economic Partnership ◽  
State Regional

Significance In contrast to this tariff escalation, eagerness to preserve the multilateral, rules-based economic order is drawing Asian countries into inter-regional trade agreements. Negotiations are ongoing to bring into effect a 16-state Regional Comprehensive Economic Partnership (RCEP) and an eleven-member Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Impacts Absent US involvement in the trade agreements, China will champion its own version of global free trade. Modifications within the CPTPP may reduce any incentive for the United States to rejoin. A US withdrawal from the WTO would weaken dispute systems used by smaller countries.

Regional trade agreement burdens global carbon emission mitigation

2021 ◽  
Author(s):  
Kailan Tian ◽  
Yu Zhang ◽  
Yuze Li ◽  
Xi Ming ◽  
Shangrong Jiang ◽  
...  
Keyword(s):  
International Trade ◽  
Trade Agreement ◽  
Economic Effects ◽  
Technological Advancement ◽  
Emission Mitigation ◽  
Regional Trade ◽  
Average Growth ◽  
Economic Output ◽  
Economic Partnership ◽  
Regional Comprehensive Economic Partnership

Abstract Regional trade agreements (RTAs) have been widely adopted to facilitate international trade and cross-border investment and ultimately promote economic development. However, ex ante measurements of the environmental effects of RTAs to date have not been well conducted. Here, we estimate the CO2 emission burdens of the Regional Comprehensive Economic Partnership (RCEP) after evaluating its economic effects. We find that trade among RCEP member countries will increase significantly and economic output will expand with the reduction of regional tariffs. However, the results show that complete tariff elimination among RCEP members would increase the yearly global CO2 emissions from fuel combustion by about 3.12%, which doubles the annual average growth rate of global CO2 emissions in the last decade. The emissions in some developing members will surge. We therefore stress the necessity of balancing carbon mitigation and the pursuit of economic profitability. The technological advancement of emission mitigation and more effective climate policies for international trade are urgently required to avoid undermining international efforts to reduce global emissions.

scholarly journals Markets Matter: The Potential of Intra-Regional Trade in ASEAN and Its Implications for Asian Regionalism

2017 ◽  
Vol 16 (2) ◽  
pp. 1-19 ◽  
Author(s):  
Lurong Chen ◽  
Philippe De Lombaerde ◽  
Ludo Cuyvers
Keyword(s):  
Economic Integration ◽  
Regional Integration ◽  
Quantitative Assessment ◽  
Regional Trade ◽  
The World ◽  
Asian Regionalism ◽  
Economic Partnership ◽  
Asean Countries ◽  
Regional Comprehensive Economic Partnership

This paper attempts to shed new light on further deepening the economic integration process in Southeast Asia using a quantitative assessment of the potential for further developing intra-regional trade. It is evident that ASEAN's export space is expanding faster than the world average and that there is still room for ASEAN countries to further develop the role of their intra-regional trade. To improve its export potential, ASEAN should liberalize trade not only intra-regionally but also globally. It could be in ASEAN's interest to accelerate the pace of regional integration under frameworks that involve the participation of non-ASEAN countries, especially an ASEAN Framework for Regional Comprehensive Economic Partnership.

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