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The Fourth Industrial Revolution and its Implications for Regional Economic Integration in ASEAN

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Listed:
  • Jayant Menon
  • Anna Fink

Abstract

This paper explores the impact of the Fourth Industrial Revolution (4IR) on the Association of Southeast Asian Nations (ASEAN). It argues that technologies of the 4IR can bring huge benefits such as empowerment for small and medium sized enterprises and opportunities for countries to leapfrog traditional pathways of development. It will also bring tremendous challenges, such as deep disruption to labor markets and the potential of rising inequality. To address the challenges and seize the opportunities of the 4IR, ASEAN will need a new way of formulating policy and regulation that will require: (i) evolution of the ASEAN Secretariat to become a “platform organization”; (ii) greater delegation of key activities to affiliated functional bodies; (iii) a shift from long-term blueprints to three year rolling plans; (iv) democratize and decentralize; and (v)establish multi-country test beds.

Suggested Citation

  • Jayant Menon & Anna Fink, 2018. "The Fourth Industrial Revolution and its Implications for Regional Economic Integration in ASEAN," Departmental Working Papers 2018-04, The Australian National University, Arndt-Corden Department of Economics.
    • Handle: RePEc:pas:papers:2018-04
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    File URL: https://acde.crawford.anu.edu.au/sites/default/files/publication/crawford01_cap_anu_edu_au/2018-04/acde_2018-04.pdf
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    References listed on IDEAS

    as
    1. Chang, Jae-Hee. & Huynh, Phu., 2016. "ASEAN in transformation the future of jobs at risk of automation," ILO Working Papers 994906463402676, International Labour Organization.
    2. Hadfield, Gillian, 2016. "Rules for a Flat World: Why Humans Invented Law and How to Reinvent It for a Complex Global Economy," OUP Catalogue, Oxford University Press, number 9780199916528.
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    4. Mahbubani, Kishore & Sng, Jeffery, 2017. "The ASEAN Miracle," University of Chicago Press Economics Books, University of Chicago Press, number 9789814722490, September.
    5. Venkatachalam ANBUMOZHI & Ponciano S. INTAL, Jr., 2015. "Can Thinking Green and Sustainability Be an Economic Opportunity for ASEAN?," Working Papers DP-2015-66, Economic Research Institute for ASEAN and East Asia (ERIA).
    6. Jeanne Batalova & Andriy Shymonyak & Guntur Sugiyarto, 2017. "Firing Up Regional Brain Networks: The Promise of Brain Circulation in the ASEAN Economic Community," Working Papers id:11717, eSocialSciences.
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    Cited by:

    1. Qing Li & Long Hai Vo, 2021. "Intangible Capital and Innovation: An Empirical Analysis of Vietnamese Enterprises," Economics Discussion / Working Papers 21-02, The University of Western Australia, Department of Economics.
    2. Arpita Mukherjee & Divya Satija, 2020. "Regional Cooperation in Industrial Revolution 4.0 and South Asia: Opportunities, Challenges and Way Forward," South Asia Economic Journal, Institute of Policy Studies of Sri Lanka, vol. 21(1), pages 76-98, March.
    3. Vo, Duc Hong & Vo, Long Hai & Ho, Chi Minh, 2022. "Regional convergence of nonrenewable energy consumption in Vietnam," Energy Policy, Elsevier, vol. 169(C).
    4. Matolwandile Mtotywa & Smilo P Manqele & Thulani J Manqele & Mankodi Moitse & Modjadji A. Seabi & Nontando Mthethwa, 2022. "The perceived societal impact of the fourth industrial revolution in South Africa," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 11(9), pages 265-279, December.

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    More about this item

    Keywords

    Fourth Industrial Revolution; ASEAN; Digital economy; Regional economic integration.;
    All these keywords.

    JEL classification:

    • O19 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - International Linkages to Development; Role of International Organizations
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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