By Daisuke Hiratsuka (eds.)

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The realization of a fully integrated economic community requires implementation of both liberalization and cooperation measures. These will involve rules for facilitating business, the presence of skilled labor and human resources development, capacity building, recognition of educational qualifications, closer consultation on macroeconomic and financial policies, trade financing measures, enhanced infrastructure and communications connectivity, development of electronic transactions through e-ASEAN, integrating industries across the region to promote regional sourcing, and the enhancement private sector involvement (ASEAN Secretariat 2003).

We then expose the estimated model in section 5, and regression results in section 6. Section 7 concludes. 34 East Asia’s De Facto Economic Integration 2 Measurement of intra-industry trade The phrase “intra-industry trade” was coined by Balassa (1966) to name a phenomenon that had been described for the first time by Verdoorn in a study about Benelux (Verdoorn 1960). IIT refers to simultaneous export and import of similar goods in a given time. Thus, any measure of IIT must be based on a classification of products precise enough so that within one category, commodities can be assumed to be similar.

Lastly, we observe, from a case study of hard disc drives, that with lower transportation costs, the multiple suppliers located in different countries can grow together in diversification of risk. What messages are derived from our studies regarding further integration? First, East Asia will enhance the de facto economic integration with respect to trade, based on fragmentation, and this will lead to further expansion of intra-regional trade through vertical intra-industry trade, due to a large diversification in income per capita.

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