Evaluation of regional economic integration in East Asia

Abstract

Free trade agreements (FTAs) in East Asia have proliferated rapidly for the past two decades. At the end of February 2016, according to the Asian Development Bank (ADB) database, there were 133 FTAs in East Asia, of which 79 were signed and in effect, six were signed but not yet in effect, 44 were under negotiation and five involved signed framework agreements. Before the 1990s, economic integration in East Asia was driven mainly by market forces; it has been strengthened by institutional initiatives since then. Unlike the EU, the institutional arrangements in East Asia have been driven by a competitive