Several initiatives have emerged for regional economic integration in the Asia-Pacific region. The United States has led the negotiations for the Trans-Pacific Partnership agreement, and ASEAN countries have recently started to promote the Regional Comprehensive Economic Partnership. This paper estimates the net economic impact of these initiatives by eliminating the overlapping portions of free trade agreement–related economic gains through the use of a dynamic computable general equilibrium model. The paper analyzes the economic and political feasibility of these two initiatives and assesses their economic impacts. Finally, the paper provides implications for economic integration in East Asia based on a quantitative assessment.
This paper analyzes how the Republic of Korea (Korea) halted the massive transmission of COVID-19 in just two months. The quarantine was achieved successfully without any need for a national lockdown because, simply, Korean citizens actively followed quarantine guidelines. During the 2015 Middle East Respiratory Syndrome (MERS) outbreak, the country recognized the importance of an early response in the form of a systematic approach and adopted the necessary procedures. Comparing the spread of COVID-19 among different countries, Korea demonstrated several distinct characteristics. First, the duration of the coronavirus crisis was relatively short, and Korea was able to flatten the coronavirus curve in a brief period. Secondly, Korea blocked expanded transmission of the virus without implementing a national lockdown. Third, the coronavirus pandemic did not lead to economic panic. Korea, which had developed an institutional response to infectious diseases prior to COVID-19, used a strategy of balancing quarantine measures with economic policies. The paper summarizes the specific measures Korea implemented to overcome COVID-19, and discusses the sustainability of the economy after overcoming the virus.
Purpose The purpose of this paper is to test the 5GP concept with measurement of the performance of Busan, Hong Kong, Singapore and Shanghai ports, employing a hybrid method of consistent fuzzy preference relation (CFPR), VIsekriterijumska Optimizacija i KOmpromisno Resenje (VIKOR) and PROMETHEE. Design/methodology/approach The authors developed the concept of the fifth generation ports (5GPs), and apply CFPR, VIKOR and preference ranking organization method for enrichment evaluations (PROMETHEE) to evaluate the 5GPs. Findings The performance of the ports of Hong Kong and Singapore is close to meet the definition of 5GP criteria. On the contrary, ports of Busan and Shanghai are still behind the 5GP stage in light of the majority of the evaluation criteria’s performance. Research limitations/implications This paper studies four ports. More empirical tests are needed to verify the applicability of the 5GP concept toward other ports. Practical implications The findings provided port managers with the insight of how to improve their port to meet the criteria of 5GP. Social implications New criteria and higher expectations of existing requirements present challenges to port managers for a need to raise the bar of service standards and develop new competencies. Originality/value The authors developed the concept of the 5GPs. Newly developed 5GP contributes to expanding the concepts of first to fourth generation ports developed by UNCTAD.
Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in Asian Development Bank InstituteThe Working Paper series is a continuation of the formerly named Discussion Paper series; the numbering of the papers continued without interruption or change. ADBI's working papers reflect initial ideas on a topic and are posted online for discussion. ADBI encourages readers to post their comments on the main page for each working paper (given in the citation below). Some working papers may develop into other forms of publication. The views expressed in this paper are the views of the author and do not necessarily reflect the views or policies of ADBI, the ADB, its Board of Directors, or the governments they represent. ADBI does not guarantee the accuracy of the data included in this paper and accepts no responsibility for any consequences of their use. Terminology used may not necessarily be consistent with ADB official terms.Asian Development Bank Institute Kasumigaseki Building 8F 3-2-5 Kasumigaseki, Chiyoda-ku Tokyo 100-6008, JapanTel:+81-3-3593-5500 Fax:+81-3-3593-5571 URL:www.adbi.org E-mail: info@adbi.org AbstractThe Trans-Pacific Partnership (TPP) agreement seems to have reached a crossroads: it could either be a building block toward achieving economic integration in Asia and the Pacific, or trigger the formation of two large trade blocs which will work independently of one another. When the Government of Japan announced its participation in the TPP negotiations in March 2013, the partnership began to attract greater interest from other East Asian countries. This paper analyzes the progress and major issues regarding the current TPP negotiations which are being led by the United States, and draws implications for East Asian economic integration. The paper argues that the TPP should be promoted for its economic value, not for geopolitical purposes. It should be open to all Asia and Pacific countries, including the People's Republic of China, the second-largest economy in the world and a growth engine for the world economy. The scope and coverage of the TPP should also be wide and comprehensive enough to induce a domino effect for economic integration in Asia and the Pacific.
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