Asia Regional Integration Center

Using a qualitative case study method based on firm-level interviews, Vannarith Chheang and Shintaro Hamanaka identify structural constraints to growth and exports within Cambodia’s garment and food industries, and consider the policy actions needed to reduce obstacles to trade. A special emphasis is placed on Cambodia’s exports opportunities to the People’s Republic of China (PRC) under the free trade agreement between the Association of Southeast Asian Nations and the PRC. Read the paper.

Ganeshan Wignaraja  compares the economic reforms and exports in the rising Asian giants, PRC and India, in the last four decades. He concludes that while PRC's reforms were swift and coordinated, India's investment and trade liberalization efforts coupled with its competitive capabilities in skill-intensive services may lead to a narrowing gap in trade performance between the two countries over time. He also suggests critical areas for future success of both countries: integrating with production networks, promoting technology development, managing real exchange rates, and mitigating the risk of protectionism. Read more.

OREI economist Satoru Yamadera will discuss the current and future activities of ABMF. ABMF operates under the ambit of ASEAN+3 and comprises bond market experts from the region. It was established in September 2010 as a common platform to foster standardization of market practices and harmonization of regulations relating to cross-border transactions in the region.

Harsha Vardhana Singh, Deputy Director-General, World Trade Organization, will talk about the state of the Doha round, multilateralizing regionalism, and the evolution of the international trading system. With the WTO Doha Round trade talks approaching the 10-year mark and the increasing interest in regional trade agreements, the multilateral trading system and the WTO seem at a critical juncture. Confirm with Liza Cruz.

Regionalism in Africa has entailed the search for collective efforts to overcome political fragmentation and economic weaknesses. This study by Gilbert M. Khadiagala is a synoptic analysis of how African countries have constructed institutions for security and prosperity. These efforts are captured through actors and events animating African regionalism since independence. The author suggests that while regional integration remains critical in Africa, unresolved tensions between continental and sub-regional institutions have impeded the emergence of stable forms of regionalism.Read more.

Emerging Asia’s capital markets have shown great resilience over the past year, but the recent sharp sell-offs in response to economic uncertainty in the US and eurozone underscore the need for stronger policies to boost investor confidence and reduce excessive volatility. This year's issue of Asia Capital Markets Monitor (ACMM) assesses Asian markets' integration with the global market and capital flow volatility and offers policy recommendations.Read the report, highlights, and news release. Watch and listen. Mr. Azis talks about the 2011 ACMM in Bloomberg.

Kiyoshi Nishimura, a senior banker with the European Bank for Reconstruction and Development, has been appointed as the first Chief Executive Officer of the Credit Guarantee and Investment Facility (CGIF), a trust fund of the Asian Development Bank. CGIF will provide guarantees for local currency denominated bonds issued by investment grade companies in the Association of Southeast Asian Nations, People’s Republic of China, Japan, and Republic of Korea. Read news release.

Rogelio Mercado and Cyn-Young Park identify determinants for the size and volatility of various types of capital flows to emerging economies, with evidence generally pointing to the relative importance of “pull” factors. Significant influence of a regional factor also suggests the role of regional economic and policy cooperation for effective management of capital inflows to emerging economies.  Read more.