The Determinants of East Asian Regionalism
As already proven in the previous chapters, a more institutionalized approach is needed to make the East Asian regionalism solid and sustainable. Feng and Genna (2003) argue that homogeneity of domestic institutions is needed to go hand-in-hand with the regional integration process. Moreover, they point out that inflation, taxation, and government regulation as representative factors for the economic institutions. Another variable that might enhance integration is population, as already identified by Tamura (1995). He argues that a large population is a catalyst for integration due to economic agglomeration. Scholars such as Milner and Kubota (2005) even show that democracy is an important factor that could foster regionalism. Their empirical work on the developing countries from 1970–1999 showed that regime change toward democracy was associated with trade liberalization and regionalization.
KeywordsTrade Strategy Trade Liberalization Median Voter East Asian Regionalism Good Infrastructure
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