Asia Regional Integration Center

Regional and bilateral free trade agreements (FTAs) continue to proliferate in the Asia and the Pacific region. Compared with more than 192 FTAs at the end of 2006, the Asian Development Bank (ADB) identified 204 bilateral and sub-regional FTAs that were concluded or under consideration within the region or with the rest of the world at end-2007. Over 65 FTAs are being implemented, 30 have been signed, 60 are under negotiation, and 49 have been proposed. East Asian economies -- involved with about 114 FTAs -- continue to be the major drivers of FTA formation in the region. View the tables. 

Professor Robert Barro of Harvard University examines the relationship between income inequality and GDP per capita (the Kuznets curve), the impact of international trade on income inequality, and the effect of income inequality on economic growth. There is some indication that inequality is bad for growth in poor countries and good for growth in richer countries. Read more.

Paul Lejot and Douglas Arner of University of Hong Kong and Lotte Schou-Zibell of ADB examine the use of securitization in East Asia, questioning both its growth after the Asian financial crisis and the reasons for it remaining constrained. Proposals on how to develop securitization to meet funding and investment needs instead of propagating excessive risk-taking is also discussed. Read more.

Economic growth in emerging East Asia will ease to 8.0% in 2008 from 8.5% in 2007, says the December issue of the Asia Economic Monitor. Moderating growth in key industrialized nations and some softening in the People's Republic of China rapid expansion-- to 10.5% from this year's 11.4%-- are behind the outlook. Volatility in global financial markets and elevated oil prices are expected to continue. Slower regional growth, however, is being accompanied by rising inflationary pressures, despite continued appreciation of many of the region's currencies.  Read more.

Jong-Wha Lee, Head of the Office of Regional Integration (OREI), launched the November edition of Asia Bond Monitor at the Asian Bond Summit in Singapore. The conference was opened by the Deputy Managing Director of Monetary Authority of Singapore and attended by 300 bankers, government officials, and investors. Read the report and news release. 

In a research workshop organized by the Office of Regional Economic Integration (OREI), public and private sector representatives discussed recent developments in financial markets, evaluated methods of assessing financial vulnerability, and talked about country practices. Robert Barro, professor of Economics at Harvard University, delivered the keynote speech.

Robert Barro, Professor of Economics at Harvard University, discussed the relationship between income inequality and economic performance in the context of globalization. See the presentation.

As an integral part of ADB’s regional cooperation and integration (RCI) strategy, the Office of Regional Economic Integration (OREI) launched its 3rd batch training course on designing, negotiating, and implementing free trade agreements (FTAs). The program aims to enhance capacity of selected Asian developing member countries (DMCs) involved in FTAs. A total of 35 DMC trade officials from Asia and the Pacific will attend the course which covers topics on trade databases and models, various coverage of FTA, and strategies for FTA negotiations and implementation.