IDEAS home Printed from https://ideas.repec.org/a/bla/asiapr/v15y2020i2p185-209.html
   My bibliography  Save this article

The Southeast Asian Economies in the Age of Discontent

Author

Listed:
  • M. Chatib Basri
  • Hal Hill

Abstract

This paper investigates the effects on and responses of five middle‐income Southeast Asian economies to the current global environment of authoritarian populism, the retreat from economic liberalism, and the appeal of anti‐globalization movements. While the political histories and institutional capabilities of the five – Indonesia, Malaysia, Philippines, Thailand and Vietnam – vary greatly, these economies have a history of at least moderately fast economic growth for extended periods, and of increasing regional and global economic integration. We argue that most of the factors behind the discontent with globalization in the rich economies are not present to the same degree in these countries, and that there has therefore been no major retreat from the economic policy settings that have underpinned their past economic success. However, there are no grounds for complacency. Economic growth is slowing in some of the countries, economic insecurity remains widespread, and the development of durable independent institutions has lagged economic growth.

Suggested Citation

  • M. Chatib Basri & Hal Hill, 2020. "The Southeast Asian Economies in the Age of Discontent," Asian Economic Policy Review, Japan Center for Economic Research, vol. 15(2), pages 185-209, July.
    • Handle: RePEc:bla:asiapr:v:15:y:2020:i:2:p:185-209
    DOI: 10.1111/aepr.12305
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/aepr.12305
    Download Restriction: no
    File URL: https://libkey.io/10.1111/aepr.12305?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Siamwalla AMMAR, 2011. "Thailand after 1997," Asian Economic Policy Review, Japan Center for Economic Research, vol. 6(1), pages 68-85, June.
    2. Anne Case & Angus Deaton, 2017. "Mortality and Morbidity in the 21st Century," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 48(1 (Spring), pages 397-476.
    3. Joseph J. Capuno, 2020. "Dutertenomics: Populism, Progress, and Prospects," Asian Economic Policy Review, Japan Center for Economic Research, vol. 15(2), pages 262-279, July.
    4. Shozo Sakata, 2020. "Has Nguyen Phu Trong's Leadership Curbed Economic Reform? Economic Reform Trends in Vietnam," Asian Economic Policy Review, Japan Center for Economic Research, vol. 15(2), pages 305-322, July.
    5. Ambar Narayan & Roy Van der Weide & Alexandru Cojocaru & Christoph Lakner & Silvia Redaelli & Daniel Gerszon Mahler & Rakesh Gupta N. Ramasubbaiah & Stefan Thewissen, 2018. "Fair Progress?," World Bank Publications - Books, The World Bank Group, number 28428.
    6. Kanit Sangsubhan & M. Chatib Basri, 2012. "Global Financial Crisis and ASEAN : Fiscal Policy Response in the Case of T hailand and I ndonesia," Asian Economic Policy Review, Japan Center for Economic Research, vol. 7(2), pages 248-269, December.
    7. Ravallion, Martin, 2016. "The Economics of Poverty: History, Measurement, and Policy," OUP Catalogue, Oxford University Press, number 9780190212773.
    8. Mahbubani, Kishore & Sng, Jeffery, 2017. "The ASEAN Miracle," University of Chicago Press Economics Books, University of Chicago Press, number 9789814722490, December.
    9. Marcus Noland, 2020. "Protectionism under Trump: The China Shock, Deplorables, and the First White President," Asian Economic Policy Review, Japan Center for Economic Research, vol. 15(1), pages 31-50, January.
    10. Jeffrey D. Sachs & Andrew Warner, 1995. "Economic Reform and the Process of Global Integration," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 26(1, 25th A), pages 1-118.
    11. Chatib Basri & Hal Hill, 2020. "Making Economic Policy in a Democratic Indonesia: The First Two Decades," Asian Economic Policy Review, Japan Center for Economic Research, vol. 15(2), pages 214-234, July.
    12. Cassey Lee, 2020. "Economic Reforms in the Aftermath of Regime Change in Malaysia," Asian Economic Policy Review, Japan Center for Economic Research, vol. 15(2), pages 239-257, July.
    13. Rodrik, Dani, 2012. "The Globalization Paradox: Why Global Markets, States, and Democracy Can't Coexist," OUP Catalogue, Oxford University Press, number 9780199652525.
    14. Tarp, Finn (ed.), 2017. "Growth, Structural Transformation, and Rural Change in Viet Nam: A Rising Dragon on the Move," OUP Catalogue, Oxford University Press, number 9780198796961.
    15. Jagdish N. Bhagwati, 2004. "In Defense of Globalization: It Has a Human Face," Rivista di Politica Economica, SIPI Spa, vol. 94(6), pages 9-20, November-.
    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. Maran Marimuthu & Hanana Khan & Romana Bangash, 2021. "Is the Fiscal Deficit of ASEAN Alarming? Evidence from Fiscal Deficit Consequences and Contribution towards Sustainable Economic Growth," Sustainability, MDPI, vol. 13(18), pages 1-19, September.
    2. Hal Hill & Takatoshi Ito & Kazumasa Iwata & Colin McKenzie & Shujiro Urata, 2020. "Economic Reform in ASEAN: Editors' Overview," Asian Economic Policy Review, Japan Center for Economic Research, vol. 15(2), pages 165-184, July.
    3. Wannaphong Durongkaveroj, 2020. "Free Trade and Prosperity: How Openness Helps Developing Countries Grow Richer and Combat Poverty," The Economic Record, The Economic Society of Australia, vol. 96(315), pages 540-542, December.
    4. Olga Yu. Gorodetskaya & Gulnara I. Alekseeva & Kira A. Artamonova & Natalia A. Sadovnikova & Svetlana G. Babich & Elvira N. Iamalova & Anatoliy M. Tarasov, 2021. "Investment Attractiveness of the Russian Energy Sector MNCs: Assessment and Challenges," International Journal of Energy Economics and Policy, Econjournals, vol. 11(2), pages 199-207.

    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. Hal Hill & Takatoshi Ito & Kazumasa Iwata & Colin McKenzie & Shujiro Urata, 2020. "Economic Reform in ASEAN: Editors' Overview," Asian Economic Policy Review, Japan Center for Economic Research, vol. 15(2), pages 165-184, July.
    2. Costantini, Valeria & Monni, Salvatore, 2008. "Environment, human development and economic growth," Ecological Economics, Elsevier, vol. 64(4), pages 867-880, February.
    3. Bussmann, Margit, 2009. "The Effect of Trade Openness on Women's Welfare and Work Life," World Development, Elsevier, vol. 37(6), pages 1027-1038, June.
    4. J.Salcedo Cain & Rana Hasan & Devashish Mitra, 2010. "Trade Liberalization and Poverty Reduction: New Evidence from Indian States," Working Papers 3333, School of International and Public Affairs, Columbia University, revised Nov 2010.
    5. Scott Hipsher, 2017. "Poverty Reduction, Wealth Creation, and Tourism in Ethnic Minority Communities in Mainland Southeast Asia," International Journal of Sustainable Entrepreneurship and Corporate Social Responsibility (IJSECSR), IGI Global, vol. 2(1), pages 39-53, January.
    6. Wunnava, Phanindra V. & Mitra, Aniruddha & Prasch, Robert E., 2012. "Globalization, Institutions, and the Ethnic Divide: Recent Longitudinal Evidence," IZA Discussion Papers 6459, Institute of Labor Economics (IZA).
    7. Eric Neumayer & Indra De Soysa, 2007. "Globalisation, Women's Economic Rights and Forced Labour," The World Economy, Wiley Blackwell, vol. 30(10), pages 1510-1535, October.
    8. Neumayer, Eric & Soysa, Indra de, 2006. "Globalization and the Right to Free Association and Collective Bargaining: An Empirical Analysis," World Development, Elsevier, vol. 34(1), pages 31-49, January.
    9. Phanindra V. Wunnava & Aniruddha Mitra & Robert E. Prasch, 2015. "Globalization and the Ethnic Divide: Recent Longitudinal Evidence," Social Science Quarterly, Southwestern Social Science Association, vol. 96(5), pages 1475-1492, November.
    10. Anderson, Kym, 2022. "Trade-related food policies in a more volatile climate and trade environment," Food Policy, Elsevier, vol. 109(C).
    11. Coulibaly, Salifou K. & Erbao, Cao & Metuge Mekongcho, T., 2018. "Economic globalization, entrepreneurship, and development," Technological Forecasting and Social Change, Elsevier, vol. 127(C), pages 271-280.
    12. Kenneth S. Chan, 2007. "Trade, Social Values, and the Generalized Trust," Southern Economic Journal, John Wiley & Sons, vol. 73(3), pages 733-753, January.
    13. Tomczak Danuta A., 2023. "The Unpredicted Rise of Populism: The Case of Poland," Central European Economic Journal, Sciendo, vol. 10(57), pages 304-322, January.
    14. Mishkin, Frederic S., 2009. "Globalization and financial development," Journal of Development Economics, Elsevier, vol. 89(2), pages 164-169, July.
    15. Hal Hill, 2021. "Philippine economic development, looking backwards and forward: An interpretative essay," Departmental Working Papers 2021-24, The Australian National University, Arndt-Corden Department of Economics.
    16. Robert J. Flanagan & Niny Khor, 2014. "Globalization and the Quality of Asian and Non-Asian Jobs," Asian Development Review, MIT Press, vol. 31(1), pages 163-185, March.
    17. Philip Stevens & Jasson Urbach & Gabrielle Wills, 2013. "Healthy Trade: The Relationship Between Open Trade and Health," Foreign Trade Review, , vol. 48(1), pages 125-135, February.
    18. Vieira, Flávio & MacDonald, Ronald & Damasceno, Aderbal, 2012. "The role of institutions in cross-section income and panel data growth models: A deeper investigation on the weakness and proliferation of instruments," Journal of Comparative Economics, Elsevier, vol. 40(1), pages 127-140.
    19. Dowling, Malcolm & Ray, David, 2000. "The structure and composition of international trade in Asia:: historical trends and future prospects," Journal of Asian Economics, Elsevier, vol. 11(3), pages 301-318, December.
    20. Blackburn, Keith & Forgues-Puccio, Gonzalo F., 2009. "Why is corruption less harmful in some countries than in others?," Journal of Economic Behavior & Organization, Elsevier, vol. 72(3), pages 797-810, December.

    More about this item

    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:bla:asiapr:v:15:y:2020:i:2:p:185-209. 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: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/jcerrjp.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.