| Project/Area Number |
05044021
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| Research Category |
Grant-in-Aid for international Scientific Research
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| Allocation Type | Single-year Grants |
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| Section | Joint Research |
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| Research Institution | Ritsumeikan University |
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Principal Investigator |
SHIBATA Hirofumi Ritsumeikan University Professor, 政策科学部, 教授 (80112001)
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| Co-Investigator(Kenkyū-buntansha) |
ELーAGRAA Ali Fukuoka University, 商学部, 教授 (90202754)
LEE Hiro University of California (Irvine), アーバイン校, 助教授
DRYSDALE Pet Australian National University, 兼日豪研究所, 教授所長
PANAGARIYA A メリーランド大学, 経済学部, 教授
INTRILLGATOR マイケル カルホルニア大学, ロスアンジェルス校, 教授
MCGUIRE Martin C. University of California (Irvine), アーバイン校・経済学部, 教授
ABE Kenzo Osaka University, 経済学部, 教授 (00175902)
SHIBATA Aiko Kwansei-gakuin University, 経済学部, 教授 (50178901)
FUKUSHIMA Takashi Tokyo Metropolitan University, 経済学部, 教授 (30228887)
IHORI Toshihiro Tokyo University, 経済学部, 教授 (40145652)
HATTA Tatsuo Osaka University, 社会経済研究所, 教授 (70008647)
PANAGARIYA Arvind Maryland Universiry
INTRILLGATOR Micheal D. University of California (Los Angels)
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| Project Period (FY) |
1993 – 1995
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| Keywords | Free Trade Area / Integration / Customs Union / NAFTA / AFTA / Risk Avoidance / EU / Global Environment |
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| Research Abstract |
The major objectives of this research project were investigation of the causes and effects of the trend of regional economic integration progressing in the global economy. The subject matters and major findings are the followings :
(1) What would be the probable future of economic integration? Would the current major economic blocks, EU,NAFTA and AFTA,be further integrated into two super economic blocks as some economists predict? Our theoretical analysis show that there are no core combination of two out of the three blocks particularly when the three are about equal sizes and, consequently, instability in formation of super-blocks would entail.
(2) Is East Asian economies less open than NAFTA and EU? Our econometric analysis shows that contrary to the widely held view, the East Asian economies are more open than NAFTA and EU.
(3) Should East Asian countries from a regional economic block? Our analysis shows that because of disparities in the stages of economic development among the coun
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tries involoved, a regionalism may not be profitable to the countries themselves.
(4) Could countries avoid risks of trade disruption by forming a regional economic block among themselves? Unexpectedly, the answer is ambiguous.Because the risk premium that a country would be willing to pay is found to be not directly related to the income level of the country.Farther theoretical analysis is being pursued.
(5) How do stock piling, protection of domestic industries and economic integration interrelated? Our analysis develops various economic models on this subject. It also analyzes the effects on economic integration of the presence of international public goods.
(6) International externalities are factors that must be considered in an economic integration. Our analysis shows that the importance of recognizing the difference between reciprocal and unilateral externalities. For example, the widely supported proposal for the global carbon tax of an equal rate to avoid the global warming is incorrect because the global warming is a case of reciprocal externality. Less
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