Energy Market Integration in East Asia Deepening Understanding and Moving Forward

East Asian nations through the dialogue between ASEAN and its partners have been promoting energy market integration (EMI) for a decade. The formation of the East Asian Summit (EAS) group in 2005 adds new momentum to the EMI course in the region. The objective of this edited volume is to present new insights into the understanding of EMI in East Asia and draw implications for further development. Thisbook is the first publicationof its kind exclusively focusing on EMI in East Asia. The chapters are written by a distinguished group of specialists in the field of energy policy, business and economics. The covered topics range from the general debates about EMI to regional policy responses. A variety of qualitative and quantitative methods are employed in this book. For qualitative methods, public goods theory and the comparative study method are two examples. The quantitative methods include economic growth theory, principle component approach, input-output table, computable general equilibrium (CGE) models and econometric techniques. Important policy implications can be drawn from the findings. One clear message is that EMI should be promoted actively but in a gradual, incremental manner. Other policy implications are related to inter-regional governance, infrastructure development and gas market integration. The content has not been published elsewhere and hence makes a unique contribution to the literature. There are also case studies of specific energy sectors such as petroleum and natural gas. Overall this book should be of interest to a wide audience such as academia, business analysts and policy makers.

1. Introduction, Yanrui Wu, Fukunari Kimura and Xunpeng Shi 2. The Status and Prospects of Energy Market Integration in East Asia, Xunpeng Shi and Fukunari Kimura 3.A Regional Public Goods Approach towards EMI in East Asia, Philip Andrews-Speed 4. EMI and Economic Convergence: Implications for East Asia, Yu Sheng and Xunpeng Shi 5. Promoting EMI between China and ASEAN through Trade Facilitation, Jianping Zhang and Daojiong Zha 6. The Asia Premium in Crude Oil Markets, Tilak K. Doshi and Neil Sebastian D'Souza 7. Pricing Reform and Enhanced Investment in the Energy Sector, Anindya Bhattacharya and Satoshi Kojima 8.Global Gas Market Integration and Implications for the EAS Region, Yanrui Wu 9. Towards an Integrated Asia-Pacific Natural Gas Market, Youngho Chang and Yanfei Li

Yanrui Wu is an economist specializing in development economics, international trade and applied econometrics. His research interests include the Asian economies (particularly, China and India), productivity analysis, economic growth, resource and environmental economics. He has published extensively in these fields including several authored books. Fukunari Kimura is Chief Economist of Economic Research Institute for ASEAN and East Asia (ERIA) and a full professor at Faculty of Economics, Keio University. He specializes in international trade and development economics, particularly working on various topics related to production networks and economic integration. He obtained PhD (economics) at the University of Wisconsin-Madison in 1991. Xunpeng Shi is an energy economist at Economic Research Institute for ASEAN and East Asia (ERIA). He specializes in environmental and resource economics, development economics, and the Chinese economy. He obtained his PhD of Economics and Master of Environmental and Resource Economics from the Australian National University and LLM of Mineral Law and Policy from University of Dundee.