Maria Socorro Gochoco-Bautista: This study examines the potential for further deepening the economic integration process in ASEAN by quantitatively assessing the potential to further develop intra-regional trade. It asks the following questions:

  • Is there still space for ASEAN to export more to the regional market?

  • How important is RCEP to ASEAN from the perspective of ASEAN's export potential?

The study uses a panel data set of bilateral data on aggregate trade flows over the period 1990 to 2013 and regional dummies to capture the fixed effect for countries in the same region. An expression for a country's overall export space or export potential is given in equation (7) as a set of opportunities for a country's exports in other markets worldwide. Indicators for supplier access and market access, in which a country's overall import potential is defined as a set of market spaces that a country offers to...

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