Description: Asia and South America: A Quasi-Common Economy Approach

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Asia and South America: A Quasi-Common Economy Approach

The Asian style of regional integration may be seen as a 'quasi-common economy' that eschews a formal linkup in political or monetary terms, but manages to generate similar results by strong physical integration and distributed chains of...

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Bibliographic Details
Main Authors:	Canuto, Otaviano, Sharma, Manu
Language:	English
Published:	World Bank, Washington, DC 2012
Subjects:	ACCESS TO MARKETS BARRIER BENCHMARK BORDER INFRASTRUCTURE BUSINESS CYCLE BUSINESS CYCLES CARIBBEAN REGION CENTRALIZATION COMMODITIES COMMODITY COMMODITY PRICES COMMON MARKET COMPARATIVE ADVANTAGE COMPARATIVE DISADVANTAGE COMPETITIVENESS CONNECTIVITY CURRENCY CURRENCY AREA CUSTOMS UNIONS DEBT DEVELOPING COUNTRIES DEVELOPING ECONOMIES DIVERSIFICATION OF EXPORTS ECONOMIC GROWTH ECONOMIC INTEGRATION ECONOMIC OUTLOOK ECONOMIC POLICIES ECONOMIC STABILITY ECONOMIES OF SCALE ELECTRONICS INDUSTRY EXPORT COMMODITIES EXPORT DIVERSIFICATION EXPORT INTENSITY EXPORTER EXPORTS EXTERNAL DEBT FACTORS OF PRODUCTION FINANCIAL CRISIS FINANCIAL SUPPORT FINANCIAL SYSTEMS FISCAL POLICY FOREIGN DIRECT INVESTMENT FOREIGN TRADE FREE TRADE FREE TRADE AGREEMENTS GDP GLOBAL ECONOMIC PROSPECTS GLOBAL MARKETS GLOBALIZATION GROWTH RATES GROWTH VOLATILITY HARMONIZATION IMPORT INDUSTRIALIZATION INFLATION INFRASTRUCTURE INVESTMENT INFRASTRUCTURE INVESTMENTS INFRASTRUCTURE PROJECT INSTITUTION BUILDING INSURANCE INTERNATIONAL TRADE INTRAREGIONAL EXPORTS INTRAREGIONAL MIGRATION INTRAREGIONAL TRADE LEVERAGE LIBERALIZATION MACROECONOMIC POLICY MACROECONOMIC SHOCKS MACROECONOMIC VOLATILITY MARKET ACCESS MARKET INTEGRATION MONETARY AUTONOMY MONETARY UNIFICATION MONETARY UNION MULTILATERAL DEVELOPMENT MUTUAL RECOGNITION NATURAL RESOURCES OPENNESS OPTIMUM CURRENCY AREA OPTIMUM CURRENCY AREAS OUTPUT OUTPUTS PER CAPITA INCOME POLITICAL ECONOMY PORTFOLIO POSITIVE EXTERNALITIES POVERTY REDUCTION PRIMARY GOODS PRIVATE CAPITAL PRODUCTION FUNCTION PRODUCTION INTEGRATION PRODUCTION STRUCTURES PUBLIC INVESTMENT REAL GDP REGIONAL DIFFERENCES REGIONAL ECONOMIC INTEGRATION REGIONAL ECONOMIES REGIONAL ECONOMY REGIONAL INFRASTRUCTURE REGIONAL INTEGRATION REGIONAL INTEGRATION EFFORTS REGIONAL LEVEL REGIONAL MEMBERS REGIONAL PRODUCTION REGIONAL TRADE REGIONAL TRADE ARRANGEMENTS SPATIAL DIMENSIONS STABLE ECONOMY STABLE GROWTH SUBREGIONS TECHNOLOGY TRANSFER TERMS OF TRADE TOTAL EXPORTS TRADE BARRIERS TRADE FACILITATION TRADE INTENSITY TRADE PATTERNS TRADE PERFORMANCE TRADE RELATIONSHIPS TRANSPORT COSTS VARIANCE OF INFLATION WAGE GAP WAGES WORLD ECONOMY
Online Access:	http://documents.worldbank.org/curated/en/2011/09/15048693/asia-south-america-quasi-common-economy-approach http://hdl.handle.net/10986/10076

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Summary:	The Asian style of regional integration may be seen as a 'quasi-common economy' that eschews a formal linkup in political or monetary terms, but manages to generate similar results by strong physical integration and distributed chains of production and service delivery. This note proposes the Asian quasi-common economy as a benchmark for South America's regional integration efforts because it is a better fit than the politically driven, broad-based, European style integrative process.