الرئيسية South Asia Economic Journal Joseph Francois, Pradumna B. Rana and Ganeshan Wignaraja (eds), Pan-Asian Integration Linking East...
أبلغ عن مشكلةThis book has a different problem? Report it to us
إختار نعم إذا كان إختار نعم إذا كان إختار نعم إذا كان إختار نعم إذا كان
نجحت في فتح الملف
يحتوي الملف على كتاب (يُسمح أيضًا بالرسوم الهزلية)
محتوى الكتاب مقبول
يتوافق الإسم و المؤلف و لغة الملف مع وصف الكتاب. تجاهل الخانات الأخرى لأنها ثانوية!
إختار لا إذا كان إختار لا إذا كان إختار لا إذا كان إختار لا إذا كان
- الملف تالف
- الملف محمي بواسطة الوسائل التقنية لحماية حق المؤلف DRM.
- الملف ليس كتاب (علي سبيل المثال، xls, html, xml)
- الملف عبارة عن مقال
- الملف مقتطف من كتاب
- الملف عبارة عن مجلة
- الملف نموذج إختبار
- الملف سبام
هل تعتقد أن محتوى الكتاب غير مناسب ويجب حظره
لا يتطابق الإسم أو المؤلف أو لغة الملف مع وصف الكتاب. تجاهل الخانات الأخرى.
Change your answer
138 / South Asia Economic Journal 11:1 (2010): 131–154 self-equilibrating, together with their critiques of such arguments as the Pigou effect. An uncomplicated Keynes–Kalecki model as a substitute of the IS-LM is presented by Colin Richardson and Jerry Courvisanos, demonstrating how the model responds to diverse institutional scenarios in computer simulations. In the concluding section, called Keynes and Heterodox Economics, the thinking of Keynes is well represented methodologically and argumentatively. It is interesting to see the points of views made about the thinking of Keynes. John King poses the question of whether the new consensus macroeconomics (NCM) has moved progressively toward Keynesian thinking, as earlier suggested by Bradley Bateman and David Colander. King concludes that the Bateman–Colander case is exaggerated, and argues that NCM still believes agents know every possible state of the world, excluding the need for money, surmises continuous market clearing, and leaves no space for introducing behavioural economic type reasoning. Subsequently, Jesús Muñoz and Joel Bonales use Lakatosian methodology to recognize Keynes’ scientific research programme (SRP) in terms of its decisive concepts and principles. How Keynes would have expanded his thinking had he lived longer is then hypothesized, accordingly proposing something of a guide for the consecutive experiences of Post-Keynesian economics. The book is a certainly a good resource and can be strongly recommended for individuals interested in the continuing reception of Keynes’ thinking. Ruwan Jayathilaka Institute of Policy Studies of Sri Lanka Colombo Thanuja Dharmasena United Nations Human Settlements Programme (UN-HABITAT) Colombo Joseph Francois, Pradumna B. Rana and Ganeshan Wignaraja (eds), Pan-Asian Integration: Linking East and South Asia. Palgrave Macmillan, 2009, US$ 110, Hardcover, 575 pp. DOI: 10.1177/139156141001100109 With Asia being one of the most dynamic and fastest growing regions in the world, led by the sub-regional gro; wth poles of China and India, much attention and debate have focused on Pan-Asian integration. At present, regional integration in Asia—which in itself is weak, compared to other regions in the world—is to a large extent limited to East Asia. In spite of the advantages that could be garnered Downloaded from sae.sagepub.com at Brunel University London on March 10, 2015 Book Reviews / 139 by the economic diversity of the East Asian and South Asian economies in terms of factor endowment and development, differences that exist between the regions in terms of institutions, politics and other factors have not aided the integration process. Pan-Asian Integration: Linking East and South Asia is an edited collection of thematic expert perspectives that analyzes the integration of the two regions. The book consists of two main sections, perspectives on current integration and regional perspectives on deeper regional integration. The first half of the book focuses on the existing levels of trade and investment, integration strategies for ASEAN, and economic integration in South Asia and lessons that can be drawn from East Asia on trade and investment. The introductory chapter by the editors provides a very good overview of the two economies and highlights the key points discussed in the book on economic relations between the two regions, the volume and nature of trade taking place, investment flows, the surge of trade agreements in the region and the benefits of Pan-Asian integration. Scollay and Pelkmans-Balaoing examine trade and investment issues relevant to the potential for future economic integration between East and South Asia. In doing so, they undertake a detailed study of the trade flows between the two regions and examine the extent to which the potentials of integration have been exploited. Using a few economic indicators, the authors analyze the impact they would have on trade between the regions. It is clear that deeper integration would provide South Asia with a ‘dramatic enlargement in the size of the regional market’. It would offer East Asia a modest increase in market size though the future potential would be greater. The study also highlights the comparative advantages of the two regions and the possibility of reaping the benefits of diverse factor endowments. The need for South Asian countries to continuously open up their economies to get the full benefits of integration has also been highlighted. Investment linkages are also studied, giving a detailed outlook on the existing levels of investment. In terms of trade, there has been a rapid increase in trade (although from a relatively low base) over the period 1999/2000 and 2004/05, between East Asian and South Asian economies. Data implies that this is largely due to increased trade with India. However, the authors engage in deeper analysis by analyzing data using different approaches like trade shares, trade intensity and complementarity indexes, etc. In order to reflect certain common aspects of the trade structures of the economies, alternative classifications are used. Furthermore, the main features of trade at the commodity level, by country, are also discussed. Discussing the levels of protection, the authors while acknowledging that there has been a progressive reduction of tariffs in South Asia, illustrate that the average applied most-favoured-nation (MFN) tariffs in even Sri Lanka, the most open economy in South Asia, is higher than the average MFN tariff rate in East and South Asia Economic Journal 11:1 (2010): 131–154 Downloaded from sae.sagepub.com at Brunel University London on March 10, 2015 140 / South Asia Economic Journal 11:1 (2010): 131–154 Southeast Asian countries. Trade agreements in the region are also discussed with the need to address underlying issues being highlighted in order for the potential benefits of new trade arrangements between the regions to be acquired. Drawing on the findings, some useful policy recommendations are made at the end. Interestingly titled, the chapter on the integration of ASEAN discusses whether there is ground for wider FTAs and for more financial and monetary integration in the already rapidly internationalized region, using institutional, theoretical and empirical analysis. The authors look at the factors behind regional integration of ASEAN and ASEAN+3, discussing the Asian crisis, deeper regional integration in developed countries, bilateral FTAs entered upon by member countries and the emergence of a formidable competitor in the form of China. The FTAs that ASEAN and its member countries are part of, are also analyzed. Bilateral agreements are popular in the region with ASEAN itself pursuing FTAs. As a region it has four accords in place and three under negotiation. While there is a preference for Asia-Pacific–centred FTAs, the inclusion of ‘WTO Plus’ provisions in the FTAs is also common. A computational general equilibrium (CGE) model is used to estimate the welfare implications of varying FTA settings. The results show that although current integration accords would give positive results, a wider ASEAN would yield better results. The authors also engage in a detailed analysis of financial and monetary integration combining quantitative methodologies with existing literature. The Maastricht Treaty is used as a benchmark in analyzing policy convergence issues. The analyses show that the ASEAN+3 meet the optimum currency area to the extent of Europe before the monetary union. However, the political thrust needed for the creation of a monetary union does not exist in Asia. The chapter by Rana and Malcolm Dowling on economic integration in South Asia and lessons that could be drawn from East Asia begins with an interesting historic evolution of intra-regional trade in South Asia. It discusses the dramatic fall in trade within South Asia despite being a well-integrated region during the nineteenth and early twentieth centuries. Hostility between India and Pakistan after the partition and the import substitution and self-sufficiency policy generally embarked upon by the South Asian nations during this time were some of the major contributions to low intra-regional trade figures. The current status of intraregional trade in South Asia is analyzed focusing on the contribution of the main economies of the region. Several mechanisms and modalities for increasing intraregional trade are discussed under the main areas of cross-border infrastructure, international trade and investment and financial sector cooperation. The chapter ends by drawing lessons from East Asia. The authors highlight that the most important lesson is that regionalism could help enhance the benefits of globalization while reducing costs. South Asia should strive towards greater cooperation within the region as well as with East Asia. Policy recommendations are provided at the end of the chapter. Downloaded from sae.sagepub.com at Brunel University London on March 10, 2015 Book Reviews / 141 The first section of the book lays a solid foundation for the second half of the book that focuses on developing deeper regional integration. Integrating the services markets, the roles of transport infrastructure, logistics and trade facilitation in Asian trade, the role of infrastructure in regional integration and the economic implications of integration scenarios are the areas discussed in this section. The first chapter in this section fills a gap in the services related literature in South Asia by looking at trade in services in South Asia and their relationship with other Asian countries. It first discusses the gains of services markets integration. Integrated and open markets for services offer countries’ gains from trade, competition, services variety and technology transfer. The effects of reform and market opening as well as features of trade and investment in services in the East and South Asian markets are also discussed. Data on trade in services, FDI in services and movement of people are analyzed in discussing the latter. In the course of analyses, the revealed comparative advantage (RCA) of services trade is examined. Among other interesting results it shows that there are complementarities in some areas between South Asia and ASEAN, and significant shifts in comparative advantage over time. Tourist and student flows are also analyzed. Using comparative work on reform programmes in the People’s Republic of China and India, and sectoral studies, impediments of integration are identified. Identifying the importance of both domestic reform and international cooperation, the authors have made useful policy suggestions at the end. With tariffs falling across countries over the years, the importance of enhancing trade facilitation comes to the fore in many discussions. A chapter devoted to transport, infrastructure, logistics and trade facilitation studies the role transport and trade facilitation can play in developing trade within the region. The existing levels of transport and logistics services are discussed using the parameters of costs, delivery time and reliability. In order to recognize areas which need improvements in terms of logistics, an analysis is made using the type of cargo that is being traded within the regions. A comprehensive discussion of principal routes for trade between the two regions is made covering all sea, land and air routes. The author of this chapter analyzes alternatives for trade between the regions, the bottlenecks, recent developments that have taken place and areas which demand more investment. In doing so, the author provides details of the type of vessels used in these routes, estimated sailing times, quality of road links and also a comparison of all land and multimodal routes. The Central Air Corridor is discussed with details of freight services offered, costs involved and expected improvements in the airfreight system. The logistics industry and trade facilitation issues in the region are analyzed in terms of cargo documentation, customs procedures, cross-border movements and border management. The author discusses the importance of reform in areas such as customs reform, risk management and other means of having effective transit regimes. South Asia Economic Journal 11:1 (2010): 131–154 Downloaded from sae.sagepub.com at Brunel University London on March 10, 2015 142 / South Asia Economic Journal 11:1 (2010): 131–154 The book also has two chapters on the role of infrastructure in regional integration in Asia, and economic implications of integrated scenarios in Pan-Asian integration. The former examines the trade and infrastructure nexus in South and East Asia looking at how transaction costs and other institutional factors affect trade and the role they play in determining whether trade takes place between two partner countries or not. In doing so, the chapter also discusses infrastructure in Asia as well as details of the data and methodology used in the analysis. The authors trace the evolution of trade using a panel of bilateral trade flows in the period 1988 to 2002 in order to explain the determinants of trade flows as well as non-trade flows. A gravity model is used particularly to capture the trading costs resulting from insufficient infrastructure and other institutional facilities. The results indicate mixed evidence with regard to the effects of institutions. Nevertheless, they show strong links between infrastructure performance and exports. Among other interesting results, the calculations indicate that a 1 per cent improvement in physical infrastructure quality (given per capita income is equal) is equivalent to having 4.5 per cent tariff. Similarly, a 1 per cent improvement in communication infrastructure is the equivalent of 1.5 per cent tariffs. The final chapter on ‘Pan-Asian Integration: Economic Implications of Integration Scenarios’ analyzes the implications of a broad Pan-Asian regional initiative. This is done for three different scenarios, namely, ASEAN+3 FTA, ASEAN+3 and India FTA, and ASEAN+3 and South Asia FTA. The results show that for East Asia what is needed most is the People’s Republic of China, Japan and Korea being brought into any scheme for deeper regional integration. Inclusion of India is important but to a lesser extent. Results also show that deeper integration with East Asia would bring modest income gains to South Asia of about 2–4 per cent of GDP. However, for East Asia it is important that any initiative with South Asia includes India. Furthermore, results also indicate that if Asia aims at including all countries in the various sub-regions, an Asian FTA would have the potential to improve regional trade as well as incomes without substantial negative effects on terms of trade. Nevertheless, in order to reap the benefits of this, it is important that measures are taken to minimize institutional barriers that pose a formidable challenge. This volume analyzes regional trade, investment, services trade, infrastructure, logistics and trade facilitation, trade and monetary cooperation and much more, providing a wealth of information for any person interested in PanAsian integration. In all these areas, comprehensive analyses are carried out on the current status of integration, developments, impediments to further integration and recommendations. Recommendations at both the regional and country levels are provided. Some of the recommendations to be followed at the regional level include the necessity for countries to continue lowering trade and non-tariff barriers, increase investment in infrastructure and streamlining Downloaded from sae.sagepub.com at Brunel University London on March 10, 2015 Book Reviews / 143 cross-border procedures to reduce trade costs involved, the need to consolidate the FTAs of South and East Asia and de-regulation and policy reforms in the services sector. This book, rich in data and comprehensive analysis, should be of interest to academics, policy makers, researchers, students and anyone interested in economic development and integration in Asia. While providing deep analyses of the subject areas, the chapters also provide a good basis for those who are new to the area, giving them the required background information on integration in the region. Overall, this is an excellent publication which should be read by all interested in the subject. Suwendrani Jayaratne Institute of Policy Studies of Sri Lanka (IPS), Colombo Institute of Policy Studies of Sri Lanka (IPS), Sri Lanka: State of the Economy 2009. Colombo: Institute of Policy Studies of Sri Lanka, 2009, SL Rs 500, 21 cm, 238 pp. DOI: 10.1177/139156141001100110 The Sri Lanka: State of the Economy 2009 report of the Institute of Policy Studies of Sri Lanka largely focuses on the global recession and its impact on the Sri Lankan economy. It also reviews the country’s economic performance in 2008 and the early part of 2009 and provides a summary of the economy’s performance in 2008–09. This year’s report is an important contribution to the understanding of the causes and consequences of the global recession and its impact on the Sri Lankan economy. It has detailed analysis of the impact of the global recession on various sectors and sub-sectors of the economy and on economic problems and issues. The report focuses on some of the central policy issues and it is a far more balanced assessment than any other institutional report. The policy perspectives it presents on critical issues facing the economy are invaluable, as it discusses several problematic areas of the economy. The first part of the book comprises three chapters and is entitled ‘The Global Economic Crisis, Issues, Impacts and Outlook’. It provides an analysis of the causes and consequences of the global crisis, its impact on several economic and social concerns and on key sectors of the economy. It discusses the policy responses to the problems facing the economy. The first chapter, ‘Policy Perspectives’ is a concise summary discussion of pertinent economic issues faced by the country. Chapter 2 deals with the overall impact of the global economic crisis on the economy. This chapter, also titled ‘The Global Economic Crisis: Issues, Impacts and Outlook’, examines the causes and consequences of the global economic crisis and its spread effects on economies South Asia Economic Journal 11:1 (2010): 131–154 Downloaded from sae.sagepub.com at Brunel University London on March 10, 2015