Research On Fiscal Policy Coordination In Regional Economic Integration Between China And ASEAN

Fiscal policy plays an irreplaceable role in optimizing resource allocation, adjusting the income distribution and stabilizing the development of economy. Moreover, the regional economic integration cannot develop healthily without it’s role of coordinating. After the financial crisis, the claims considered by ASEAN countries that economic integration should be quickened and effective and long-term cooperation system should be set up to resist crisis are becoming more and more urgent. The foundation of China-ASEAN Free Trade Area also appeals to the common desire of China and ASEAN countries, which means strengthening economic and trade cooperation, improving international position as well as changing world trade and economic order.In the organization of over1200free trade zone, China-ASEAN free trade zone has become one of the most successful free trade area. European Union has stepped into a stage in which economy combined with currency. What makes it successful is that the coordination function of fiscal policies are attached importance to and a series of forceful adjusting system has been built.At present, China has signed series of agreement with The ASEAN such as "China and the ASEAN Comprehensive Economic Cooperation Framework Agreement" and "Cargo trade agreement".From a macroeconomic level, China-ASEAN Free Trade Area has preliminarily formed policy coordination system, which lack professional adjustment by permanent or fixed supranational organizations. Thus, fiscal policies are short of system indemnification.From a microeconomic level, with the promotion of tariff’s adjustment, international tax policies’conformity has been initially built. However, the coordinate system of organization between international debt and international assistance has not yet bom.Therefore, China-ASEAN regional Integration should not ignore problems in adjusting fiscal policies such as market failure, financial spillovers and short of cohesion among member country, which may obstruct the process of regional economic integration and restrict the improvement of economic interests in zones. With the development of China-ASEAN regional integration, researches aimed to coordinate regional fiscal policies own very important practical meanings. For example, how to adjust kinds of contradictions in financial policies and build a coordination system that can be in accordance with the interests of the region as a whole as well as member countries’national conditions is a very urgent issue to be solved.From international tax, debt and international aids, this text analyze above mentioned respects’current situation and matter. It also uses Panel Data econometric analysis method to verify the effectiveness of three respects to regional integration and gain concluded. In the end, the book comes up with some countermeasures and suggestions, which mainly includes detail measures aimed to propel international tax, debts and supports.