Arbeitspapier
Intra-regional trade in East Asia: The decoupling fallacy, crisis, and policy challenges
This paper examines the export experience of East Asian economies in the aftermaths of the crisis against the backdrop of a systematic analysis of precrisis trade patterns. The analysis is motivated by the decoupling thesis, which was a popular theme in Asian policy circles in the lead-up to the onset of the recent financial crisis, and aims to probe three key issues: Was the East Asian trade integration story that underpinned the decoupling thesis simply a statistical artifact or the massive export contraction caused by an overreaction of traders to the global economic crisis and/or by the drying up of trade credit, which overpowered the cushion provided by intra-regional trade? What are the new policy challenges faced by the East Asian economies? Is there room for an integrated policy response that marks a clear departure from the precrisis policy stance favoring export-oriented growth? The findings serve to caution against a possible costly backlash against openness to foreign trade arising from the newfound enthusiasm for rebalancing growth (redressing the strong bias for exports in development policy), and make a strong case for a well-coordinated strategy to fight new protectionism, as part of a long-term commitment to nondiscriminatory multilateral and unilateral trade liberalization.
- Sprache
-
Englisch
- Erschienen in
-
Series: ADBI Working Paper ; No. 177
- Klassifikation
-
Wirtschaft
Empirical Studies of Trade
Economic Integration
- Thema
-
Finanzmarktkrise
Außenhandelseffekt
Internationale Arbeitsmobilität
Außenhandelsstruktur
Ostasien
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Athukorala, Prema-chandra
Kohpaiboon, Archanun
- Ereignis
-
Veröffentlichung
- (wer)
-
Asian Development Bank Institute (ADBI)
- (wo)
-
Tokyo
- (wann)
-
2009
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:45 MEZ
Datenpartner
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Objekttyp
- Arbeitspapier
Beteiligte
- Athukorala, Prema-chandra
- Kohpaiboon, Archanun
- Asian Development Bank Institute (ADBI)
Entstanden
- 2009
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