Transparency and Regional Integration in the Asia Pacific
We show in this paper that increasing the transparency of the trading environment can be an important complement to traditional liberalisation of tariff and non-tariff barriers. Our definition of transparency is grounded in a transaction cost analysis. We focus on two dimensions of transparency: predictability (reducing the cost of uncertainty) and simplification (reducing information costs). Using the Asia Pacific Economic Cooperation (APEC) member economies as a case study, we construct indices of importer and exporter transparency for the region from a wide range of sources. Our results from a gravity model suggest that improving trade-related transparency in APEC could hold significant benefits by raising intra-APEC trade by approximately US $148 billion or 7.5 per cent of baseline trade in the region. Action to improve transparency measures examined could be undertaken in many forms, including within the current APEC framework or future talks on a Free Trade Area in the Asia Pacific.
| Main Authors: | , , |
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| Format: | Journal Article biblioteca |
| Language: | EN |
| Published: |
2009
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| Subjects: | Trade Policy, International Trade Organizations F130, Country and Industry Studies of Trade F140, Economic Integration F150, International Linkages to Development, Role of International Organizations O190, Development Planning and Policy: Trade Policy, Factor Movement, Foreign Exchange Policy O240, |
| Online Access: | http://hdl.handle.net/10986/5828 |
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