Revisiting Asian economic integration: challenges and prospects

Korwatanasakul, Upalat

doi:10.1080/13547860.2020.1840493

Cited by 10 publications

(4 citation statements)

References 19 publications

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“…Finally, South Asian nations, which are comparatively less globalized (Korwatanasakul, 2015), face unique challenges in welfare expansion. Constraints such as a low share of formal labor and poor tax collection mechanisms limit the governments' capacities to effectively address inequality (Aspalter, 2017;Koehler and Chopra, 2014;Wood and Gough, 2006;Rama et al, 2015).…”

Section: Theoretical Expectations Of Patterns Of Welfare Regimes In Asiamentioning

confidence: 99%

Welfare regimes in Asia: convergent or divergent?

Han

2023

Humanit Soc Sci Commun

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While existing scholarship predominantly focuses on the evolution of welfare regimes in advanced Western economies, there has been limited investigation into the trajectories of such systems in the Asia-Pacific region. This study presents a nuanced analysis of welfare regimes in 20 Asian countries, examining their transformation since the 2000s through principle component analysis and clustering algorithms. Contrary to the predictions of comparative political economy and international political economy theories, the findings reveal that these nations neither exhibit a strict divergence in welfare patterns nor converge strictly towards market-driven commodification. Instead, they adopt a balanced approach, harmonizing elements of both commodification and decommodification. This flexibility allows them to navigate complex challenges, including productivity competition, external shocks, and internal inequality. The study suggests that this balanced approach may act as a positive feedback mechanism, enabling these countries to adapt to both global economic pressures and domestic social imperatives.

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Section: Theoretical Expectations Of Patterns Of Welfare Regimes In Asiamentioning

confidence: 99%

Welfare regimes in Asia: convergent or divergent?

Han

2023

Humanit Soc Sci Commun

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“…Their findings revealed that the dynamic effects of economic integration on economic growth are rooted in economies of scale, technological progress, increased competition, reduced uncertainty and the creation of a more favorable environment for economic activity. Korwatanasakul (2022) analyses the impact of regional economic integration on member and non-member countries of a regional union. He found that regional economic integration has an impact on growth through interregional diffusion of technology, as knowledge spillovers from leading countries spread to lagging partners.…”

Section: Review Of Literature Empirical Evidence On Regional Integrat...mentioning

confidence: 99%

Admission of Democratic Republic of Congo (Drc) in the East African Community (Eac): Are There Opportunities for Kenya?

Moses

2022

RS Global - IJITSS

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Many countries across the globe are adopting regional economic integration as a strategy towards speeding economic growth and development. Through these integrations, there has been a surge in regional economic blocks, which have served to expand the market for many countries and open others to more robust trading activities and international business. East African Community has also been expanding its membership from three-member states to seven member states. This expansion has been aimed at enhancing the effectiveness of the integration and making the community more comprehensive for the benefit of member countries. The inclusion of Democratic Republic of Congo as the seventh member country was recently concluded, and this has been viewed in varied dimensions. However, there has been a debate on whether the inclusion of DRC will enhance the benefits by the member countries or not. This paper, therefore, sought to establish the opportunities for international business that the EAC member countries are likely to gain out of the inclusion of DRC. The study singled out Kenya, as the largest economy in the community and at the centre of the admission of DRC into the EAC. An empirical approach was adopted where key reports, existing literature and reviews have been reviewed to come up with the findings and discussions. The results have portrayed that the inclusion of DRC into the EAC increases the community’s market by over 89 million consumers while opening the EAC to the Pacific Ocean. Kenyan multinationals have also been steadfast in investing in DRC upon admission of the country into DRC. The results have shown that while regional economic integration may come up with a share of problems from member countries, especially unstable countries, it also opens opportunities for established economies to invest in such economies for continued economic growth and development. It is recommended that both DRC and Kenyan governments lays out more trade facilitation policies and strategies in order to encourage international trade between the two countries and across the EAC region.

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“…The findings support the hypothesis that economic growth and gross capital formation are correlated in both directions. Korwatanasakul (2022) reviews the development of major Asian regional economic blocs in the context of the impact of regional economic integration on income convergence in the region. The study's findings could not support the impact of economic integration on income convergence in the whole continent of Asia because some parts of the Asia are less globalised and integrated, and as a result, the integration process has largely been restricted to the East and Southeast Asian nations.…”

Section: Literature Reviewmentioning

confidence: 99%

Exploring Intra-Group Income Convergence for the Central Asian Countries

2022

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The main objective of this study is to explore income convergence for the Central Asian countries whereas income convergence refers to the state when all nations in a region converge to the identical level of steady state in terms of per capita. This study tested the income convergence through beta convergence and sigma convergence over period from 2003 to 2019. The beta convergence indicates that the poor economies grow more rapidly than the rich nations and catch up with them in terms of per capita income, whereas sigma convergence means that the gaps between the per capita incomes of the nations in the region decrease over the passage of time. The beta convergence is determined through panel unit root tests, whereas sigma convergence is determined through the coefficient of variation. This study finds beta convergence as well as sigma convergence henceforth; income convergence is confirmed in Central Asian countries. It can be concluded that economic integration is in favor of Central Asia, so it is recommended that these nations must ensure economic cooperation with each other through easing trade restrictions and lessening import taxes on imports. Moreover, it will also be helpful to ensure the free mobility of the labor force among Central Asian countries, as it will further help them to ensure economic integration and helps in reducing the income inequality in the region.

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Revisiting Asian economic integration: challenges and prospects

Cited by 10 publications

References 19 publications

Welfare regimes in Asia: convergent or divergent?

Welfare regimes in Asia: convergent or divergent?

Admission of Democratic Republic of Congo (Drc) in the East African Community (Eac): Are There Opportunities for Kenya?

Exploring Intra-Group Income Convergence for the Central Asian Countries

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