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

Author

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  • Andrista, Safira
  • Widodo, Tri

Abstract

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.

Suggested Citation

  • Andrista, Safira & Widodo, Tri, 2017. "Welfare Impact of ASEAN Economic Integration: “ASEAN Way” Versus Theory," MPRA Paper 80880, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:80880
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    File URL: https://mpra.ub.uni-muenchen.de/80880/1/MPRA_paper_80880.pdf
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    References listed on IDEAS

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    More about this item

    Keywords

    Economic Integration; “ASEAN Way”; GTAP;

    JEL classification:

    • F02 - International Economics - - General - - - International Economic Order and Integration
    • F15 - International Economics - - Trade - - - Economic Integration
    • F53 - International Economics - - International Relations, National Security, and International Political Economy - - - International Agreements and Observance; International Organizations

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