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How ASEAN Can Improve Its Response to the Economic Crisis Generated by the COVID-19 Pandemic: Inputs drawn from a comparative analysis of the ASEAN and EU responses

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  • Antonio Fanelli

Abstract

This paper conducts a comparative review of the evolution of the economic crisis generated by the coronavirus disease (COVID-19) pandemic and the responses enacted by the Association of Southeast Asian Nations (ASEAN) and the European Union. It highlights differences and common elements in the strategic approaches, the intensity of the interventions, and governance structures. In the final section, it identifies short- and medium-term actions, inspired by the comparative analysis, which could contribute to improve the ASEAN response.

Suggested Citation

  • Antonio Fanelli, 2021. "How ASEAN Can Improve Its Response to the Economic Crisis Generated by the COVID-19 Pandemic: Inputs drawn from a comparative analysis of the ASEAN and EU responses," Working Papers DP-2021-08, Economic Research Institute for ASEAN and East Asia (ERIA).
    • Handle: RePEc:era:wpaper:dp-2021-08
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    References listed on IDEAS

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    1. Fauziah Zen & Fukunari Kimura, 2020. "Maintaining Fiscal Sustainability during the Pandemic Crisis," Working Papers PB-2020-04, Economic Research Institute for ASEAN and East Asia (ERIA).
    2. Ben Shepherd, 2021. "Facilitating Trade in Pharmaceuticals: A Response to the COVID-19 Pandemic," Working Papers DP-2021-05, Economic Research Institute for ASEAN and East Asia (ERIA).
    3. Hai Anh La & Riyana Miranti, 2021. "Financial Market Responses to Government COVID-19 Pandemic Interventions: Empirical Evidence from South-East and East Asia," Working Papers DP-2021-07, Economic Research Institute for ASEAN and East Asia (ERIA).
    4. Alberto Posso, 2021. "Could the COVID-19 Crisis Affect Remittances and Labour Supply in ASEAN Economies? Macroeconomic Conjectures Based on the SARS Epidemic," Working Papers DP-2021-06, Economic Research Institute for ASEAN and East Asia (ERIA).
    5. Archanun Kohpaiboon & Juthathip Jongwanich, 2021. "The Effect of the COVID-19 Pandemic on Global Production Sharing in East Asia," Working Papers DP-2021-03, Economic Research Institute for ASEAN and East Asia (ERIA).
    6. World Bank, "undated". "World Bank East Asia and Pacific Economic Update, April 2020," World Bank Publications - Reports 33477, The World Bank Group.
    7. Economic Research Institute for ASEAN and East Asia (ERIA), 2020. "COVID-19 and Southeast and East Asian Economic Integration: Understanding the Consequences for the Future," Working Papers PB-2020-01, Economic Research Institute for ASEAN and East Asia (ERIA).
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    COVID-19; ASEAN; European Union; regional economic recovery; strategies;
    All these keywords.

    JEL classification:

    • P50 - Economic Systems - - Comparative Economic Systems - - - General

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