Regionalism Cycle in Asia (-Pacific): A Game Theory Approach to the Rise and Fall of Asian Regional Institutions

Despite a commonplace view that Asian regionalism lacks institutions, Asia, in fact, is full of regional institutions and frameworks in various forms. The rise and fall of regional institutions in Asia is an extremely dynamic process. Using a game theory approach, this paper hypothesizes that the dynamic nature of Asian regionalism can be explained by a "regionalism cycle." The institutional outcome of regionalism in Asia has been cyclical because the game played by Japan and the United States does not have a stable equilibrium. This paper tests the hypothesized regionalism cycle using actual cases of regional institutions in the field of financial cooperation and regional summit meetings.regionalism; Regionalism cycle; Asian Monetary Fund (AMF); East Asia Summit (EAS); Game Theory

The Japan - Australia Partnership in the Era of the East Asian Community - Can they Advance Together?

This paper aims to examine the implications of the rise of East Asian regionalism for the Australia-Japan partnership. In particular, it investigates whether both nations can sustain their partnership, which evolved around Asia Pacific regionalism over the last few decades, by exploring the upsurge of Japans interest in East Asian regionalism and examining characteristics of Australias foreign policy under the Howard government, which lacked a regionalist approach in its first three terms but has shown a keener interest in furthering relations with East Asian countries and promoting East Asian regionalism since late 2004.East Asia, Japan, Australia, foreign policy, Howard government, Regionalism

Composition and the Logic of Location: An Argument for Regionalism

Ned Markosian has recently defended a new theory of composition, which he calls regionalism : some material objects xx compose something if and only if there is a material object located at the fusion of the locations of xx. Markosian argues that regionalism follows from what he calls the subregion theory of parthood. Korman and Carmichael agree. We provide countermodels to show that regionalism does not follow from, even together with fourteen potentially implicit background principles. We then show that regionalism does follow from five of those background principles together with and two additional principles connecting parthood and location, which we call and. While the additional principles are not uncontroversial, our conjecture is that many will find them attractive. We conclude by mentioning that fills a previously unnoticed gap in the formal theory of location presented in Parsons

Regionalism

"In this paper, we review the debate on "new regionalism," focusing on the tools used to evaluate regional trade agreements (RTAs). We find that much analysis uses tools from old trade theory in the Viner-Meade tradition, focusing on trade creation, trade diversion, and terms-of-trade effects. These tools are adequate for the analysis of the effects of removing commodity trade barriers ("shallow" integration), but the comfortable Viner-Meade framework misses many of the impacts associated with new regionalism, which typically involves "deep integration," often between developing and developed countries. A framework for analyzing new regionalism should include dynamic changes such as trade-productivity links and endogenous growth theory, international factor mobility, the role of imperfect competition, rent seeking behavior, and political-economy considerations such as potential conflicts between regionalism and multilateralism. Agriculture poses problems for new regionalism because of high tariffs, the use of domestic subsidies and entrenched special interest groups, but the role of trade liberalization on its productivity is often overlooked. For developing countries, a crucial issue is whether and how regionalism can be part of a successful development strategy. While "new trade theory" is concerned with a number of the issues relevant to new regionalism, and is providing new tools, the work is eclectic and is far from providing a unified framework for empirical analysis of new regionalism. Both theoretical and empirical research is needed to improve the reach and scope of new trade theory applied to issues of new regionalism." Authors' AbstractRegionalism. ,Regional trade agreements ,Terms of trade. ,

Monetary regionalism: regional integration without financial crises

The financial crises of the late 1990s have marked a watershed for the global economy and for regionalism. Prior to these crises, deregulation and liberalisation, in particular of financial markets, enjoyed widespread support. On the other hand, regional integration was aimed at improving conditions for regional trade and was based on Bela Balassa’s forty year old theory of regional integration. At the beginning of the 21st century, the theoretical approach to regional integration will have to be a different one. Regionalism will have to offer enhanced protection against financial crises, whereas trade liberalisation in an era of rapid trade liberalisation both offers fewer benefits and may be too complicated to implement due to high administrative costs associated in particular with free trade areas. The aim of this paper is to provide a theoretical framework for the emerging new monetary regionalism. Regions that wish to strengthen their co-operation in monetary and financial affairs today have the option of regionalism without trade agreements. East Asia is the most likely candidate for the implementation of monetary regionalism, also because East Asian policy makers continue to be frustrated with the lack of progress in the IMF’s reform process

The EU’s New Black Sea Policy- What kind of regionalism is this? CEPS Working Document No. 297/July 2008.

After the accession of Bulgaria and Romania in 2007 the European Union moved quickly to fill an obvious gap in its vision of the regions to its periphery, proposing the ‘Black Sea Synergy’. The EU shows a certain degree of commonality in its approaches to each of the three enclosed seas in this region – the Baltic, the Mediterranean and now the Black Sea. While the political profiles of these maritime regions are of course very different, they naturally give rise to many common policy challenges, including those issues that are based on the technical, non-political matters of regional maritime geography. This paper sets out a typology of regionalisms and examines where in this the EU’s Black Sea Synergy is going to find its place. While the Commission’s initial proposals were highly ‘eclectic’, with various examples of ‘technical regionalism’ combined with ‘security regionalism’, there is already a diplomatic ballet in evidence between the EU and Russia, with the EU countering Russia’s pursuit of its own ‘geopolitical regionalism’. The EU would like in theory to see its efforts lead to a ‘transformative regionalism’, but the lack of agreement so far over further extending membership perspectives to countries of the region risks the outcome being placed more in the category of ‘compensatory regionalism’

The opening–dependence on the European Union and globalization

Globalization is the result, as well as the cause of the expansion of trade agreements and liberalization of capital flows. Regionalism is a side effect of globalization, of particular importance in EU. The article compares the opening and dependence of EU member states with that of similar regions in the world. It argues that the combination between free trade and regionalism is destined to evolve in time.globalization, European Union, liberalization, regionalism

The Building Block versus Stumbling Block Debate of Regionalism: From the Perspective of Service Trade Liberalization in Asia

When debating the pros and cons of economic regionalism, haven't we focused enough on trade in goods at the expense of services? This article argues that regionalism is certainly a building block, not a stumbling block to a multilateral trading system, using the services liberalization scheme of Association of Southeast Asian Nations (ASEAN) as a case study. At the same time, it is critical to set out a proper institutional arrangement to ensure that regional services liberalization initiatives reinforce the global services regime. This paper proposes an amendment of the current GATS Article V to define the appropriate relationship between multilateralism and regionalism in the context of services.GATS; AFAS; ASEAN; services; regionalism; free trade; economic integration

Comparative Regionalism - A New Research Agenda

After the end of the Cold War, students of International Relations observed an expansion of inter-state activities at the regional level. Regional and sub-regional groupings appeared to gain momentum as the way in which countries cooperate and should cooperate to pursue peace, stability, wealth and social justice. The surge and resurgence of regionalism has triggered the proliferation of concepts and approaches. The focus of this paper will be on processes and structures of state-led regionalism driven by the delegation of policies and political authority to regional institutions. Based on this understanding of regionalism, the existing literature will be reviewed with regard to three general questions. These questions do not only require research across regions but also allow developing a common research agenda to accumulate knowledge generated about specific regions. First, what are the outcomes of regionalism? How can we describe and compare the results of the delegation of policies and political authority? Second, what are the drivers of regionalism? Why do some governments choose to delegate policies and political authority while others do not? Finally, what are the internal effects of regionalism? How does the delegation of policies and political authority impact back on the domestic structures of the states involved?regional development; Europeanization; Europeanization

New Regionalism in East Asia: How Does It Relate to the East Asian Economic Development Model?

In recent years a new regionalism has begun to emerge in East Asia that represents a clear break from the region's strong history of multilateralism. The countries of East Asia have been giving more attention to ways of expanding intra regional trade that include: the establishment of regional trade agreements (RTAs) such as ASEAN+3; plans to establish a free trade area involving the economies of ASEAN and China; as well as moves towards bilateral trade agreements (BTAs). This paper focuses upon the meaning and implications of this new regionalism for the "old" EADM, and explores the key ingredients of an emerging "new" EADM growth and development paradigm, incorporating the new regionalism, that appears to be emerging in the wake of the 1997-98 crisis.new regionalism, East Asia, East Asian economic development model