ASEAN Economic Integration: Addressing Challenges and Embracing Opportunities

IF 4.5 3区经济学 Q1 ECONOMICS Asian Economic Policy Review Pub Date : 2024-02-21 DOI:10.1111/aepr.12462

Cyn-Young Park

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Abstract

This paper examines the macroeconomic and development policies to spur economic integration and growth in the Association of Southeast Asian Nations (ASEAN). It reviews how economic transformation and integration have fueled growth and job creation in the region. ASEAN's increased participation in global and regional value chains, with the People's Republic of China (PRC) as a regional hub, laid the solid foundation of regional production networks. However, with the changing role of the PRC in global value chains, the region needs to renew policy initiatives to address the development challenges and seize new growth opportunities with its single market goals. The analysis suggests the region requires strategic plans for infrastructure development, digitalization, and greater integration reinforced by the removal of trade barriers, increased labor mobility, and foreign direct investment mobilization. The region's successful future also depends on cooperative policy efforts around developing e-government and digital value chains, strengthening micro-, small- and medium-sized enterprises and startups, and building smart cities.

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东盟经济一体化：应对挑战，迎接机遇

本文探讨了促进东南亚国家联盟（东盟）经济一体化和增长的宏观经济和发展政策。它回顾了经济转型和一体化是如何促进该地区的增长和创造就业机会的。以中华人民共和国（PRC）为区域枢纽，东盟越来越多地参与全球和区域价值链，为区域生产网络奠定了坚实的基础。然而，随着中华人民共和国在全球价值链中的角色不断变化，该地区需要更新政策措施，以应对发展挑战，抓住新的增长机遇，实现单一市场目标。分析表明，该地区需要制定基础设施发展、数字化和加强一体化的战略计划，并通过消除贸易壁垒、提高劳动力流动性和调动外国直接投资来加强这些计划。该地区成功的未来还取决于围绕发展电子政务和数字价值链、加强中小微型企业和初创企业以及建设智慧城市的合作政策努力。

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来源期刊

Asian Economic Policy Review ECONOMICS-

CiteScore

12.90

自引率

2.60%

发文量

期刊介绍： The goal of the Asian Economic Policy Review is to become an intellectual voice on the current issues of international economics and economic policy, based on comprehensive and in-depth analyses, with a primary focus on Asia. Emphasis is placed on identifying key issues at the time - spanning international trade, international finance, the environment, energy, the integration of regional economies and other issues - in order to furnish ideas and proposals to contribute positively to the policy debate in the region.