IDEAS home Printed from https://ideas.repec.org/p/esc/wpaper/5908.html
   My bibliography  Save this paper

Regional Integration and Inclusive Development: Lessons from ASEAN Experience

Author

Listed:
  • Hank Giokhay Lim
  • Kester TAY Yi-Xun

    (Singapore Institute of International Affairs)

Abstract

The current economic crisis has lent extra urgency to ASEAN’s efforts at economic integration and raising its attractiveness for trade and investment. This process gained momentum in the 1990s and has made much progress, as reflected in the emergence of a wide range of extra- and intra-regional agreements. However, the effectiveness of this network of arrangements in stimulating trade and investment depends on not just the characteristics of each arrangement but how well they complement each other. This paper addresses these two areas by examining and evaluating past and present initiatives individually and collectively. Findings suggest that the fundamental impeding issues have endured over the years: lack of political will, ASEAN-style consensus-reliant negotiation, and insufficient management in implementing and harmonising of initiatives. Recommendations include agreement design innovation and focus on shared concerns to overcome lack of will, role expansion of the secretariat to monitor implementation through issuance of score cards, and establishment of specialised bodies such as sub-committees and working groups to enhance implementation and dispute settlement.

Suggested Citation

  • Hank Giokhay Lim & Kester TAY Yi-Xun, 2008. "Regional Integration and Inclusive Development: Lessons from ASEAN Experience," Working Papers 5908, Asia-Pacific Research and Training Network on Trade (ARTNeT), an initiative of UNESCAP and IDRC, Canada..
    • Handle: RePEc:esc:wpaper:5908
    as

    Download full text from publisher

    File URL: http://www.unescap.org/tid/artnet/pub/wp5908.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ramkishen S. Rajan & Tan Khee Giap & Tan Kong Yam, 2014. "Southeast Asia," Palgrave Macmillan Books, in: Fiscal Sustainability and Competitiveness in Europe and Asia, chapter 6, pages 147-177, Palgrave Macmillan.
    2. Paul Vandoren, 2005. "Regional economic integration in South East Asia," Asia Europe Journal, Springer, vol. 3(4), pages 517-535, December.
    3. Ramkishen Rajan & Rahul Sen, 2002. "The Japan-Singapore “New Age” Economic Partnership Agreement: Background, Motivation and Implications," Centre for International Economic Studies Working Papers 2002-08, University of Adelaide, Centre for International Economic Studies.
    4. Hadi Soesastro, 2005. "Accelerating ASEAN Economic Integration - Moving Beyond AFTA," Trade Working Papers 22034, East Asian Bureau of Economic Research.
    5. Mr. Tubagus Feridhanusetyawan, 2005. "Preferential Trade Agreements in the Asia-Pacific Region," IMF Working Papers 2005/149, International Monetary Fund.
    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. Boldea, O. & Engwerda, J.C. & Michalak, T. & Plasmans, J.E.J. & Salmah, S., 2011. "A Simulation Study of an ASEAN Monetary Union (Replaces CentER DP 2010-100)," Other publications TiSEM e92b4cbf-8cde-4a19-83e2-8, Tilburg University, School of Economics and Management.
    2. Engwerda, J. & Boldea, O. & Michalak, T. & Plasmans, J. & Salmah,, 2012. "A simulation study of an ASEAN monetary union," Economic Modelling, Elsevier, vol. 29(5), pages 1870-1890.

    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. Guanyi Leu, 2011. "ASEAN’s Preferential Trade Agreements (PTA) Strategy," Journal of Current Southeast Asian Affairs, Institute of Asian Studies, GIGA German Institute of Global and Area Studies, Hamburg, vol. 30(2), pages 31-64.
    2. Tongzon, Jose L., 2002. "The Devastating Crisis, Singapore’S Extra-Asean Free Trade Agreements And Their Implications For Asean," EIJS Working Paper Series 153, Stockholm School of Economics, The European Institute of Japanese Studies.
    3. Hiro Lee & Dominique van der Mensbrugghe, 2007. "Regional Integration, Sectoral Adjustments and Natural Groupings in East Asia," OSIPP Discussion Paper 07E008, Osaka School of International Public Policy, Osaka University.
    4. Graham Bird & Ramkishen Rajan, 2002. "Optimal currency baskets and the third currency phenomenon: exchange rate policy in Southeast Asia," Journal of International Development, John Wiley & Sons, Ltd., vol. 14(8), pages 1053-1073.
    5. Jayant Menon, 2021. "ASEAN’s limited regional Integration spells globalisation, not Failure," Departmental Working Papers 2021-02, The Australian National University, Arndt-Corden Department of Economics.
    6. Yose Rizal Damuri & Raymond Atje & Arya B. Gaduh, 2006. "Integration and Trade Specialization in East Asia," CSIS Economics Working Paper Series WPE094, Centre for Strategic and International Studies, Jakarta, Indonesia.
    7. Puah, Chin-Hong & Kueh, Jerome Swee-Hui & Lau, Evan, 2007. "The Implications Of Emergence Of China Towards Asean-5: Fdi-Gdp Perspective," MPRA Paper 4550, University Library of Munich, Germany.
    8. Orcalli, Gabriele, 2017. "Market Building through Regional Integration Agreements : The EU and the ASEAN Way," Journal of Economic Integration, Center for Economic Integration, Sejong University, vol. 32(1), pages 160-192.
    9. Innwon Park, 2009. "Regional Trade Agreements in East Asia: Will They Be Sustainable?," Asian Economic Journal, East Asian Economic Association, vol. 23(2), pages 169-194, June.
    10. Lee, Jong-Wha & Shin, Kwanho, 2006. "Does regionalism lead to more global trade integration in East Asia?," The North American Journal of Economics and Finance, Elsevier, vol. 17(3), pages 283-301, December.
    11. Kim , Sangkyom & Park , Innwon & Park , Soonchan, 2013. "A Free Trade Area of Asia Pacific (FTAAP): Is It Desirable?," East Asian Economic Review, Korea Institute for International Economic Policy, vol. 17(1), pages 3-25, March.
    12. Avila, John Lawrence V., 2004. "A Comparative Study of Bilateral FTA/CEP Arrangements," Discussion Papers DP 2004-28, Philippine Institute for Development Studies.
    13. Miller, Marcus & corrado, luisa, 2002. "Exchange Rate Monitoring Bands: Theory and Policy," CEPR Discussion Papers 3337, C.E.P.R. Discussion Papers.
    14. Stevan Luković, 2015. "The Impact Of Globalization On The Characteristics Of Tax Systems Of The European Countries," Economic Annals, Faculty of Economics and Business, University of Belgrade, vol. 60(206), pages 117-140, July - Se.
    15. Ms. Patrizia Tumbarello, 2007. "Are Regional Trade Agreements in Asia Stumbling or Building Blocks? Implications for the Mekong-3 Countries," IMF Working Papers 2007/053, International Monetary Fund.
    16. Gloria O. Pasadilla, 2007. "Preferential trading agreements and agricultural liberalization in East and South-East Asia," STUDIES IN TRADE AND INVESTMENT, in: Studies in Trade and Investment - AGRICULTURAL TRADE - PLANTING THE SEEDS OF REGIONAL LIBERALIZATION IN ASIA, volume 60, pages 75-130, United Nations Economic and Social Commission for Asia and the Pacific (ESCAP).
    17. Raihan, Selim, 2012. "SAFTA and the South Asian Countries: Quantitative Assessments of Potential Implications," MPRA Paper 37884, University Library of Munich, Germany.
    18. Dutt, Pushan, 2020. "The WTO is not passé," European Economic Review, Elsevier, vol. 128(C).
    19. Takashi Terada, 2006. "The Making of Asia’s First Bilateral FTA : Origins and Regional Implications of the Japan–Singapore Economic Partnership Agreement," Trade Working Papers 21838, East Asian Bureau of Economic Research.
    20. Emmy, F.A. & Mohd Mansor, Ismail, 2009. "Trade Performance of Fruit and Vegetable Industry in Selected ASEAN Countries," MPRA Paper 16928, University Library of Munich, Germany.

    More about this item

    Keywords

    ASEAN; Economic Integration; Development; Trade;
    All these keywords.

    JEL classification:

    • F1 - International Economics - - Trade

    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:esc:wpaper:5908. 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: Yann Duval (email available below). General contact details of provider: http://www.unescap.org/tid/artnet/ .

    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.