and a Possible Roadmap Working Paper Series on Regional Economic Integration No. 2 Office of Regional Economic Integration

The ADB Working Paper Series on Regional Economic Integration focuses on topics relating to regional cooperation and integration in the areas of infrastructure and software, trade and investment, money and finance, and regional public goods. The Series is a quick-disseminating, informal publication that seeks to provide information, generate discussion, and elicit comments. Working papers published under this Series may subsequently be published elsewhere. Key words: ASEAN/East Asian economic cooperation and integration, business cycle synchronization, free trade agreements, policy coordination