[go: up one dir, main page]
IDEAS home Printed from https://ideas.repec.org/p/ris/adbrei/0069.html
   My bibliography  Save this paper

ASEAN Economic Integration: Features, Fulfillments, Failures and the Future

Author

Listed:
  • Hill, Hal

    (Arndt Corden Department of Economics)

  • Menon, Jayant

    (Asian Development Bank)

Abstract
The 10-member Association of Southeast Asian Nations, ASEAN, is arguably the most durable and successful regional grouping in the developing world. Established in 1967, it has contributed greatly to regional harmony and prosperity. ASEAN is characterized by great internal diversity, generally high economic growth, and a reluctance to establish a strong supranational structure. Beginning in 1976—with its five original members—ASEAN began to move toward economic cooperation and integration, initially with a focus on merchandise trade. In the 1990s, it added focus on services, investment, and labor. And in the past decade—now including all of Southeast Asia—ASEAN broadened cooperation on macroeconomic and financial issues, many of these together with its Northeast Asian neighbors—the "Plus 3" of the People's Republic of China, Japan, and the Republic of Korea. Members adopted what may appear to be formal preferential trade arrangements. But in practice these are usually multilateralized. ASEAN informally embraces what is sometimes termed "open regionalism." However, there is little likelihood in the foreseeable future that this will evolve into a deep EU-style economic integration behind a common external trade regime, despite a commitment to forming an ASEAN Economic Community beginning 2015.

Suggested Citation

  • Hill, Hal & Menon, Jayant, 2010. "ASEAN Economic Integration: Features, Fulfillments, Failures and the Future," Working Papers on Regional Economic Integration 69, Asian Development Bank.
    • Handle: RePEc:ris:adbrei:0069
    as

    Download full text from publisher

    File URL: http://aric.adb.org/pdf/workingpaper/WP69_Hill_Menon_ASEAN_Economic_Integration.pdf
    File Function: Full text
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Park, Cyn-Young & Majuca, Ruperto & Yap, Josef, 2010. "The 2008 Financial Crisis and Potential Output in Asia: Impact and Policy Implications," Working Papers on Regional Economic Integration 45, Asian Development Bank.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Elms, Deborah, 2020. "Impact of the ASEAN Economic Community and implications for Latin America," Documentos de Proyectos 46513, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
    2. Edwin Bernard F. Lisaba & Neil Stephen A. Lopez, 2021. "Spatiotemporal Comparison of Drivers to CO 2 Emissions in ASEAN: A Decomposition Study," Sustainability, MDPI, vol. 13(11), pages 1-21, May.
    3. Siwage Dharma Negara & Dionisius A. Narjoko & Kazunobu Hayakawa, 2024. "Impacts of Tariff Rates on Input Source Choice: Evidence from Indonesia," The Developing Economies, Institute of Developing Economies, vol. 62(1), pages 28-44, March.
    4. Iulia Monica Oehler-Şincai, 2014. "The Roles Played By China And Japan In The Asian Integration Process," Romanian Economic Business Review, Romanian-American University, vol. 9(3), pages 131-148, September.
    5. Andrista, Safira & Widodo, Tri, 2017. "Welfare Impact of ASEAN Economic Integration: “ASEAN Way” Versus Theory," MPRA Paper 80880, University Library of Munich, Germany.
    6. Ekaterina Y. ARAPOVA, 2017. "Ex-Post Analysis Of The Influence Of Tariff Liberalisation On Asean Exports," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 17(2), pages 135-154.
    7. Budy P Resosudarmo & Acram Latiph & Saran Sarntisart & Isra Sarntisart, 2016. "Development in Southeast Asia's lagging regions," Departmental Working Papers 2016-08, The Australian National University, Arndt-Corden Department of Economics.
    8. Lee, Cassey & Fukunaga, Yoshifumi, 2014. "ASEAN regional cooperation on competition policy," Journal of Asian Economics, Elsevier, vol. 35(C), pages 77-91.
    9. Zaenal Mutaqin & Masaru Ichihashi, 2013. "Widening and Deepening Economic Integration Impact on Bilateral Trade in the Eurozone and ASEAN," IDEC DP2 Series 3-3, Hiroshima University, Graduate School for International Development and Cooperation (IDEC).
    10. Muneer Shaik & S. Maheswaran, 2017. "Market Efficiency of ASEAN Stock Markets," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 7(2), pages 109-122, February.
    11. Hee-Ryang Ra, 2015. "Intra-regional trade of ASEAN+3: Trends and issues for the economic integration of East Asia," International Area Studies Review, Center for International Area Studies, Hankuk University of Foreign Studies, vol. 18(2), pages 109-137, June.
    12. Rifai Afin, 2023. "Interlinka Terlinkage Of M Ge Of Macroeconomic Uncer Croeconomic Uncertainty And Macroeconomic Performance: Evidence From Asean-5 Countries Panel Var," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 26(1), pages 39-68, March.
    13. Angkeara Bong & Gamini Premaratne, 2018. "Regional Integration and Economic Growth in Southeast Asia," Global Business Review, International Management Institute, vol. 19(6), pages 1403-1415, December.
    14. Pariwat Kanithasen & Vacharakoon Jivakanont & Charnon Boonnuch, 2011. "AEC 2015: Ambitions, Expectations and Challenges ASEAN's Path towards Greater Economic and Financial Integration," Working Papers 2011-03, Monetary Policy Group, Bank of Thailand.
    15. Dupont, Cédric, 2011. "What role for regional economic organizations in a fragmented trade world? The case of ASEAN," Papers 242, World Trade Institute.
    16. Florian A. Alburo, 2015. "Gearing the Philippines for ASEAN Economic Community," UP School of Economics Discussion Papers 201510, University of the Philippines School of Economics.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Hamanaka, Shintaro, 2010. "Institutional Parameters of a Region-Wide Economic Agreement in Asia: Examination of Trans-Pacific Partnership and ASEAN+α Free Trade Agreement Approaches," Working Papers on Regional Economic Integration 67, Asian Development Bank.
    2. Lin, Mi & Kwan, Yum K., 2013. "FDI Technology Spillovers and Spatial Diffusion in the People’s Republic of China," Working Papers on Regional Economic Integration 120, Asian Development Bank.
    3. Nesadurai, Helen E.S., 2010. "Labor and Grassroots Civic Interests In Regional Institutions," Working Papers on Regional Economic Integration 63, Asian Development Bank.
    4. Hix, Simon, 2010. "Institutional Design of Regional Integration: Balancing Delegation and Representation," Working Papers on Regional Economic Integration 64, Asian Development Bank.
    5. Nasir, Shahbaz & Kalirajan, Kaliappa, 2014. "Modern Services Export Performances among Emerging and Developed Asian Economies," Working Papers on Regional Economic Integration 143, Asian Development Bank.
    6. Hamanaka, Shintaro, 2014. "World Trade Organization Agreement on Trade Facilitation: Assessing the Level of Ambition and Likely Impacts," Working Papers on Regional Economic Integration 138, Asian Development Bank.
    7. Lee, Hyun-Hoon & Park, Donghyun & Wang, Jing, 2011. "The Role of the People’s Republic of China in International Fragmentation and Production Networks: An Empirical Investigation," Working Papers on Regional Economic Integration 87, Asian Development Bank.
    8. Shinozaki, Shigehiro, 2014. "Capital Market Financing for SMEs: A Growing Need in Emerging Asia," Working Papers on Regional Economic Integration 121, Asian Development Bank.
    9. Voeten, Erik, 2010. "Regional Judicial Institutions and Economic Cooperation: Lessons for Asia?," Working Papers on Regional Economic Integration 65, Asian Development Bank.
    10. Wang, Yong, 2010. "Evolving Asian Power Balances and Alternate Conceptions for Building Regional Institutions," Working Papers on Regional Economic Integration 68, Asian Development Bank.
    11. Hill, Hal & Menon, Jayant, 2014. "Trade Policy Challenges in a Small, Open, Fragile, Postconflict Economy: Cambodia," Working Papers on Regional Economic Integration 141, Asian Development Bank.
    12. Estrada, Gemma & Park, Donghyun & Park, Innwon & Park, Soonchan, 2011. "ASEAN’s Free Trade Agreements with the People’s Republic of China, Japan, and the Republic of Korea: A Qualitative and Quantitative Analysis," Working Papers on Regional Economic Integration 75, Asian Development Bank.
    13. Cheong, David, 2010. "Methods for Ex Ante Economic Evaluation of Free Trade Agreements," Working Papers on Regional Economic Integration 52, Asian Development Bank.
    14. Han, Fei & Hee Ng, Thiam, 2011. "ASEAN-5 Macroeconomic Forecasting Using a GVAR Model," Working Papers on Regional Economic Integration 76, Asian Development Bank.
    15. Cyn‐Young PARK & Jong‐Wha LEE, 2011. "Financial Integration in Emerging Asia: Challenges and Prospects," Asian Economic Policy Review, Japan Center for Economic Research, vol. 6(2), pages 176-198, December.
    16. Dieter, Heribert, 2014. "The End of Grand Expectations: Monetary and Financial Integration After the Crisis in Europe," Working Papers on Regional Economic Integration 127, Asian Development Bank.
    17. Hong, Kiseok & Tang, Hsiao Chink, 2010. "Crises in Asia: Recovery and Policy Responses," Working Papers on Regional Economic Integration 48, Asian Development Bank.
    18. Takagi, Shinji, 2010. "Regional Surveillance for East Asia: How Can It Be Designed to Complement Global Surveillance?," Working Papers on Regional Economic Integration 50, Asian Development Bank.
    19. Baldwin, Richard, 2010. "Sequencing regionalism: Theory, European practice, and lessons for Asia," CEPR Discussion Papers 7852, C.E.P.R. Discussion Papers.
    20. Khadiagala, Gilbert M., 2011. "Institution Building for African Regionalism," Working Papers on Regional Economic Integration 85, Asian Development Bank.

    More about this item

    Keywords

    ASEAN economies; ASEAN economic development; economic integration; regional trade agreements;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • F59 - International Economics - - International Relations, National Security, and International Political Economy - - - Other
    • O53 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Asia including Middle East

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ris:adbrei:0069. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ivan B. de Leon (email available below). General contact details of provider: https://edirc.repec.org/data/oradbph.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.