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The Emerging Northeast–Southeast Asia Divide and Policy Implications

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  • Friedrich Wu

Abstract

Since the outbreak of the Asian financial crisis in mid-1997, the gulf between the Northeast Asian economies and Southeast Asian economies has widened as measured by GDP growth rates and size, direct and portfolio investment flows, stock market capitalisation and trading turnover, as well as foreign exchange reserves. The growing divide between the two regions can be explained by four factors, namely: political-risk differentials; different paces in economic restructuring and financial reforms; China’s allure in post-WTO entry; and the technological gap between the two regions. To recapture competitiveness, the Southeast Asian economies need to pursue the following policy responses with some urgency: re-establish a more stable political environment; accelerate market-oriented reforms and liberalisation; and fine tune incentives to attract foreign investment.

Suggested Citation

  • Friedrich Wu, 2001. "The Emerging Northeast–Southeast Asia Divide and Policy Implications," World Economics, World Economics, 1 Ivory Square, Plantation Wharf, London, United Kingdom, SW11 3UE, vol. 2(1), pages 169-180, January.
  • Handle: RePEc:wej:wldecn:52
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    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Cyclical markets, rationality and urbanization
      by chris dillow in Stumbling and Mumbling on 2006-08-02 16:58:33

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    1. Michael Groemling, 2005. "Konjunkturprognosen – Verfahren, Erfolgskontrolle und Prognosefehler," Departmental Discussion Papers 123, University of Goettingen, Department of Economics.

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