Is the ASEAN-Korea Free Trade Area (AKFTA) an Optimal Free Trade Area?

The 1997/98 Asian currency crisis has led a once high-flying East Asia to realize its vulnerability to external shocks. This realization has given strong impetus to greater economic integration among East Asian economies, with the ASEAN-Korea Free Trade Area (AKFTA) a case in point. This paper qualitatively and quantitatively examines the economic feasibility of AKFTA: qualitatively using the theory of economic integration, and quantitatively by applying a CGE model. Our two-dimensional analysis provides some, but not overwhelming, support for AKFTA's prospects as an effective means of promoting trade between ASEAN and the Republic of Korea.

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Year of publication:	2008
Authors:	Park, Donghyun ; Park, Innwon ; Estrada, Gemma Esther B.
Publisher:	Manila : Asian Development Bank (ADB)
Subject:	ASEAN \| Korea \| trade \| free trade area \| economic integration

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Series:	ADB Working Paper Series on Regional Economic Integration ; 21
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	752060333 [GVK] hdl:10419/109538 [Handle] hdl:11540/1788 [Handle] RePEc:ris:adbrei:0021 [RePEc]
Classification:	F10 - Trade. General ; F14 - Country and Industry Studies of Trade ; F15 - Economic Integration
Source:	EconStor

Persistent link: https://www.econbiz.de/10010507467