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    <title>EconStor Community: Asian Development Bank Institute (ADBI), Tokyo</title>
    <link>http://hdl.handle.net/10419/53142</link>
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  <item rdf:about="http://hdl.handle.net/10419/53760">
    <title>Trade logistics and regional integration in Latin America and the Caribbean</title>
    <link>http://hdl.handle.net/10419/53760</link>
    <description>Title: Trade logistics and regional integration in Latin America and the Caribbean
&lt;br/&gt;
&lt;br/&gt;Authors: Guerrero, Pablo; Lucenti, Krista; Galarza, Sebastián
&lt;br/&gt;
&lt;br/&gt;Abstract: During the past few decades, the landscape of the world economy has changed. New trade patterns reflect the globalization of the supply chain and intra-industry trade, and increasing flows between neighboring countries and trading blocs with similar factor endowments. Similarly, the approach to production, trade, and transportation has evolved incorporating freight logistics as an important value-added service in global production. This integrated approach have become essential, and as such, both the trade agenda and freight logistics are beginning to converge providing an unparalleled opportunity for countries to deepen their integration with neighboring countries and their national performance in transport related services. Consequently, developing countries are finding themselves hard-pressed to adjust their policy agendas to take into account costs not covered in past rounds of trade negotiations. This paper focuses on the importance of freight logistics in trade facilitation measures, examines the transport and logistics cost in international trade, addresses logistics performance in Latin America and the Caribbean and regional initiatives to advance the integration process and finally, exchanges views on the potential for trade logistics to impact the regional agenda and to deepen integration.</description>
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  <item rdf:about="http://hdl.handle.net/10419/53759">
    <title>The Asian 'noodle bowl': Is it serious for business?</title>
    <link>http://hdl.handle.net/10419/53759</link>
    <description>Title: The Asian 'noodle bowl': Is it serious for business?
&lt;br/&gt;
&lt;br/&gt;Authors: Kawai, Masahiro; Wignaraja, Ganeshan
&lt;br/&gt;
&lt;br/&gt;Abstract: A lively debate is taking place over the impact of free trade agreements (FTAs) on East Asia's business between those who view the agreements as a harmful Asian noodle bowl - i.e., overlapping regional trade agreements - of trade deals and others who see net beneficial effects in terms of regional liberalization and a building block to multilateral liberalization. A lack of enterprise-level data has made it difficult to resolve the debate. Providing new evidence from surveys of 609 East Asian firms (in Japan, Singapore, Republic of Korea [hereafter Korea], Thailand, and Philippines), this paper seeks to address the critical question of whether the Asian noodle bowl of multiple overlapping FTAs is harmful to business activity, particularly for small- and medium-sized enterprises (SMEs). The surveys suggest that the Asian noodle bowl does not seem to have severely harmed the region's business activity to date. Use of FTA preferences is higher than expected from previous studies (22% of responding firms). Furthermore, only 27% of responding firms said that multiple rules of origin significantly added to business cost. However, as more currently under negotiation FTAs take effect and the complexity of the Asian noodle bowl increases, the business impact is likely to intensify. Implementation of key policies and closer publicprivate sector cooperation can help mitigate negative effects and facilitate a more SMEinclusive business response to FTAs. Suggestions include: encouraging most favored nation (MFN) liberalization, rationalization of rules of origin, upgrading origin administration, increased awareness of FTA provisions, improving business participation in FTA consultations, and SME support.</description>
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  <item rdf:about="http://hdl.handle.net/10419/53758">
    <title>Reform of the international financial architecture: An Asian perspective</title>
    <link>http://hdl.handle.net/10419/53758</link>
    <description>Title: Reform of the international financial architecture: An Asian perspective
&lt;br/&gt;
&lt;br/&gt;Authors: Kawai, Masahiro
&lt;br/&gt;
&lt;br/&gt;Abstract: It has taken two crises - the Asian financial crisis of 1997-1998 and the global financial crisis of 2007-2009 - for the international community to seriously focus on the reform of the international financial architecture for crisis prevention, management and resolution. Facing the global financial crisis, the international community has responded by making the G20 Summit the premier forum for international economic and financial cooperation, creating a potentially more powerful Financial Stability Board, and augmenting the financial resources of the IMF. However, the international financial architecture remains inadequate for the needs of many emerging market economies. The effectiveness of IMF surveillance - particularly that of systemically important economies (such as the US, the UK and the Euro Area) - as well as its governance structure should be improved. International liquidity support should be made available when any country with sound economic and financial management is put into an externally driven crisis. International agreements should be reached on external (sovereign) debt restructuring, and on the cross-border resolution of insolvent, internationally active financial firms for fair burden sharing of losses between creditors and debtors, or among different national authorities. A well-functioning regional financial architecture could complement and strengthen the international financial architecture. East Asian authorities should focus on: (i) the establishment of resilient national financial systems, including local-currency bond markets; (ii) integration of national financial markets to facilitate the mobilization of regional savings for regional investment (in infrastructure and SMEs); and (iii) enhancement of regional liquidity (Chiang Mai Initiative Multilateralization) and economic surveillance mechanisms. The region should also intensify regional exchange rate policy coordination to achieve sustained economic growth without creating macroeconomic and financial instability.</description>
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  <item rdf:about="http://hdl.handle.net/10419/53757">
    <title>Transport infrastructure and trade facilitation in the Greater Mekong Subregion</title>
    <link>http://hdl.handle.net/10419/53757</link>
    <description>Title: Transport infrastructure and trade facilitation in the Greater Mekong Subregion
&lt;br/&gt;
&lt;br/&gt;Authors: Stone, Susan; Strutt, Anna
&lt;br/&gt;
&lt;br/&gt;Abstract: As trade is an important driver of growth and infrastructure is a necessity for trade, infrastructure development has a key role to play in economic development. This study aims to quantify the potential benefits of the development of the economic transport corridors, along with the implementation of the Cross-Border Transport Agreement (CBTA) in the Greater Mekong Subregion (GMS). Some of the key linkages between upgraded infrastructure, economic growth, and sectoral responses are explored using a computable general equilibrium (CGE) framework. The study provides a static view of one-off gains from a conservative estimate in a reduction in transport costs and improvements in trade facilitation. The findings show clear gains from improvements in physical land transport and the more substantial gains from improved trade facilitation. The results also provide a glimpse into the potential gains from intra-regional trade, highlighting the potential markets within the GMS. The implications of these results are that once a sufficient physical system is in place, additional benefits are marginal compared with improvements in policy initiatives under the heading of trade facilitation. While the GMS does not have the level of physical infrastructure that would be considered adequate for its desired level of economic activity, the results show that investing in soft aspects now still has substantial payback. In the future, as a greater physical base is put in place, the region should enjoy further benefits from expanded markets having a solid trade facilitation system in place. In sum, the CBTA and transport corridor development can significantly improve transit times and trade service costs, albeit with some drawbacks, throughout the region.</description>
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