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Paths and strategies towards the FTAAP : Linking integration and inclusive growth

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Title Paths and strategies towards the FTAAP
Similar Titles
Sub Title

Linking integration and inclusive growth

Material Type Reports
Author(English)

Choi, Byungil

Publisher

Sejong, South Korea : Korea Institute For International Economic Policy

Date 2016
Series Title; No APEC Study Series / 16-01
Pages 48
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < Trade
Economy < Economic Administration
Holding Korea Institute For International Economic Policy
License

Abstract

While the pathway to the Free Trade Area of the Asia-Pacific (FTAAP) has been intensely discussed with a focus on its architecture, something has been missing: how to link trade and investment liberalization with inclusive growth of the APEC economies. The APEC economies have been increasingly open to trade and investment, but domestic distortions persist. The consequences have been less beneficial effects of trade and investment liberalization to domestic stakeholders. In particular, less-advantageous minorities have become more vulnerable to external economic shocks. If these failures are not urgently and seriously addressed, political support for further integration towards the FTAAP will continue to weaken. This reckoning has led to this paper. This paper offers policy options to make the FTAAP more conducive to inclusive growth of the APEC economies. Policy proposals are offered in two fronts. At negotiations, a grand compromise between advanced and developing economies should be sought to make negotiations agenda more comprehensive and balanced. (The rest omitted)