Publication

This paper analyzes the effects of EU integration on Asian countries. The authors examine whether the trade creation effect of the Economic and Monetary Union leads to discrimination against trade with third countries and affects Asian economies' exports to Europe. Moreover, they assess so-called overlap or similarity indices for trade patterns that show increasing similarity between EU, US and Japanese exports to Asia on the one hand, and Asian and European exports to industrialized countries on the other hand. They conclude with a discussion of policy responses of the various actors.