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Welfare Impact of ASEAN Economic Integration: “ASEAN Way” Versus Theory

Listed author(s):
  • Andrista, Safira
  • Widodo, Tri

The ASEAN Economic Community (AEC) has been implemented since the beginning of 2016 and expected to be completed in 2025. The ASEAN member countries preserve their value and norms highly even in the condition of integrated ASEAN, particularly in state’s sovereignty, resulting “ASEAN Way” of integration. This research is conducted to compare the ASEAN Way of integration and theoretical kinds of economic integration (Balassa, 1961). Using GTAP 9 Migration database with 2007 and 2011 base year, the comparative examination of ASEAN Way of integration impact on ASEAN member countries divided into five scenarios: (1) implementation of the ASEAN Free Trade Area, (2) ASEAN customs union, (3) ASEAN Economic Community, (4) ASEAN common market and (5) fully liberalized ASEAN trade. The welfare gains of ASEAN member countries in (1) implementation of ASEAN free trade area is higher than (2) ASEAN customs union, and the welfare gains of ASEAN member countries in implementation of (3) ASEAN Economic Community is higher than (4) ASEAN common market.

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Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 80880.

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Date of creation: 18 Aug 2017
Handle: RePEc:pra:mprapa:80880
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  1. Michael G. Plummer & Ganeshan Wignaraja, 2006. "The Post-Crisis Sequencing of Economic Integration in Asia: Trade as a Complement to a Monetary Future," Economie Internationale, CEPII research center, issue 107, pages 59-85.
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  7. Matyushenko Igor Yu. & Kovalchuk Ekaterina V., 2011. "The World Market of Armament: Ukraine Perspectives," The Problems of Economy, RESEARCH CENTRE FOR INDUSTRIAL DEVELOPMENT PROBLEMS of NAS (KHARKIV, UKRAINE), issue 1, pages 32-40.
  8. Malcolm, Gerard, 1998. "Modeling Country Risk and Capital Flows in GTAP," GTAP Technical Papers 316, Center for Global Trade Analysis, Department of Agricultural Economics, Purdue University.
  9. Burfisher,Mary E., 2011. "Introduction to Computable General Equilibrium Models," Cambridge Books, Cambridge University Press, number 9780521139779, December.
  10. repec:ilo:ilowps:486351 is not listed on IDEAS
  11. Plummer, Michael G. & Petri, Peter A. & Zhai, Fan., 2014. "Assessing the impact of ASEAN economic integration on labour markets," ILO Working Papers 994863513402676, International Labour Organization.
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