Economic Development and Cooperation in the Pacific Basin: Trade, Investment, and Environmental Issues

by Edited by Hiro Lee , David W. Roland-Holst

• ISBN13: 9780521583664
• ISBN10: 0521583667
• Format: Hardcover
• Copyright: 1998-09-28
• Publisher: Cambridge University Press

Summary

This volume brings together contributions from leading economic analysts around the Pacific Basin, reporting on their research into three of the most important issues facing the region: trade, investment flows, and the environmental effects of economic growth. Each of these issues has important domestic and multilateral ramifications and the Pacific Basin's status as the world's most dynamic economic region makes this analysis relevant to policy makers and researchers in all countries. The collection is unique in offering the most up-to-date appraisals available from economists representing the principal economies of the region. Among other contributions in the book are new insights into the forces animating regional trade and investment, detailed assessment of leading East Asian economies such as those of China, Indonesia, Japan, Korea, and Singapore, and innovative research on economy-environment linkages.

Table of Contents

Acknowledgments	vii	(2)
List of Contributors	ix
I. Introduction and Overview	3	(34)
1 Prelude to the Pacific Century: Overview of the Region, Leading Issues, and Methodology	3	(34)
Hiro Lee
David Roland-Holst
II. U.S.-Japan and Asian Trade Patterns	37	(82)
2 Cooperative Approaches to Shifting Comparative Advantage: The Case of Bilateral Trade between the United States and Japan	37	(41)
Hiro Lee
David Roland-Holst
COMMENT: Peter A. Petri
3 Is There an Asian Export Model?	78	(41)
Marcus Noland
COMMENT: Albert Fishlow
III. Regional Trading Arrangements in the Pacific Basin	119	(114)
4 Should East Asia Go Regional?	119	(41)
Arvind Panagariya
COMMENT: Barry Eichengreen
5 Political Feasibility and Empirical Assessments of a Pacific Free Trade Area	160	(43)
Hiro Lee
Brian Woodall
COMMENT: Alain de Janvry
6 Regionalism in the Pacific Basin: Strategic Interest of ASEAN in APEC	203	(30)
Tan Kong Yam
COMMENT: Pearl Imada Iboshi
IV. Foreign Direct Investment: Determinants and Consequences	233	(172)
7 The Determinants of Foreign Direct Investment: A Survey with Applications to the United States	233	(18)
Peter A. Petri
Michael G. Plummer
COMMENT: Jeffrey H. Bergstrand
8 Are Trade and Direct Investment Substitutes or Complements? An Empirical Analysis of Japanese Manufacturing Industries	251	(46)
Masahiro Kawai
Shujiro Urata
COMMENT: Julia Lowell
9 Korea's Outward Foreign Direct Investment and the Division of Labor in the Asia-Pacific	297	(34)
Jai-Won Ryou
COMMENT: Chung H. Lee
10 China's Absorption of Foreign Direct Investment	331	(20)
Shang-Jin Wei
COMMENT: K.C. Fung
11 The Impact of Foreign Investment in Indonesia: Historical Trends and Simulation Analysis	351	(54)
Iwan J. Azis
COMMENT: William E. James
V. Trade, Resources, and the Environment	405	(68)
12 Economic Development and the Environment in China	405	(41)
Wang Huijiong
Li Shantong
COMMENT: Mark Poffenberger
13 Outward Orientation and the Environment in the Pacific Basin: Coordinated Trade and Environmental Policy Reform in Mexico	446	(27)
John Beghin
David Roland-Holst
Dominique van der Mensbrugghe
COMMENT: David Zilberman
Linda Fernandez
Index	473