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.
- Language
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Englisch
- Bibliographic citation
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Series: ADBI Working Paper ; No. 177
- Classification
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Wirtschaft
Empirical Studies of Trade
Economic Integration
- Subject
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Finanzmarktkrise
Außenhandelseffekt
Internationale Arbeitsmobilität
Außenhandelsstruktur
Ostasien
- Event
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Geistige Schöpfung
- (who)
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Athukorala, Prema-chandra
Kohpaiboon, Archanun
- Event
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Veröffentlichung
- (who)
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Asian Development Bank Institute (ADBI)
- (where)
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Tokyo
- (when)
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2009
- Handle
- Last update
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10.03.2025, 11:45 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Athukorala, Prema-chandra
- Kohpaiboon, Archanun
- Asian Development Bank Institute (ADBI)
Time of origin
- 2009
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