Executive Summary

I. Introduction

II. How to Construct a Suprantional Single Market
1. Two Methods: Harmonization and Mutual Recognition
2. The Result: A Mix of Deregulation and Reregulation
3. The Normative Theory of Regulation: Delegation to Independent Regulators
4. The Positive Theory of Regulation: Institutional Design to Limit Policy
Drift

III. The European Union Model
1. Why a Single Market in the 1980s?
2. Institutional Design: Credible, Efficient, and Legitimate
3. Functioning of the EU Institutions

IV. A Possible East Asian Single Market
1. Basic Assumptions: Preference Convergence, Democracy, and Trade Interation
2. Possible Members and Some Justifications
3. Institutional Design of an East Asian Single Market Organization
4. Against 'ASEAN Principles?'

V. Conclusion

References