Suchergebnisse

As cross-border movements of goods, capital, and labor are intensifying, it is likely that goods markets in East Asia will become increasingly integrated. This study investigates the current state of goods market integration in East Asia by measuring the extent of cross-border price differentials. Specifically, this study shows that compared with the European Union (EU), East Asian markets are neither sufficiently integrated nor are they showing any price convergence over time. Examining the factors and hurdles that prevent East Asian countries from approaching the European level of market integration, this study also shows that such wide price differentials could be explained largely by greater exchange rate volatilities and wider intra-regional income gaps, together with insufficient regionalization efforts. This result highlights the importance of a three-pronged integration strategy covering trade, money, and development policies, and of East Asia-wide regional institutions which, incorporating both developed and developing Asian countries, help promote more free trade agreements (FTAs) and prevent financial crises.

Cover -- Half Title -- Series Page -- Title Page -- Copyright Page -- Table of Contents -- List of figures and graphs -- List of tables -- List of contributors -- Acknowledgments -- List of abbreviations -- Introduction: Economic policy and the Covid-19 crisis: the macroeconomic response in the US, Europe, and East Asia -- Part I The experience of the USA -- Chapter 1 Monetary and fiscal policies in the United States -- Part II Monetary and fiscal policies in the euro-area and the EU -- Chapter 2 The Covid-19 Monetary and Fiscal Response in the Euro-Area and the EU -- Chapter 3 The case of France -- Chapter 4 The case of Germany -- Chapter 5 The case of Italy -- Chapter 6 The case of the UK -- Part III Monetary and fiscal policies in Asia -- Chapter 7 The case of China -- Chapter 8 The case of Japan -- Chapter 9 The case of Korea -- Chapter 10 The case of Singapore -- Appendix -- Index.

Cover -- Half Title -- Dedication -- Title -- Copyright -- Contents -- List of Figures -- List of Tables -- List of Contributors -- Acknowledgements -- List of Abbreviations -- Introduction -- PART I: PEACE AND SECURITY - THE POLITICAL DIMENSION OF INTEGRATION -- 1 The Experience of European Integration in an Historical Perspective -- 2 Asian Regionalism: A Post-Crisis Perspective -- PART II: ECONOMIC AND TRADE INTEGRATION -- 3 History and Process of European Economic Integration -- 4 Economic Integration in East Asia: A Japanese Viewpoint -- PART III: MONETARY COOPERATION -- 5 European Monetary Union and its Implication for Asia -- 6 Monetary Cooperation in East Asia -- PART IV: CULTURE AND VALUES -- 7 Culture, Values and European Integration -- 8 Culture, Values and Regional Integration in Asia: Critical Reflections on the Politics of Regional Identity -- CONCLUSIONS -- 9 Should Asia Emulate Europe? -- Index