This study reveals the level of overall, individual and pairwise integration among Association of Southeast Asian Nations (ASEAN), China, Japan and Korea (+3 countries) based on the real and financial aspects. The findings are as follows: First, ASEAN +3 countries experience a declining...

No single measure of real or financial integration sufficiently captures all of the salient characteristics of the extent of integration between individual economies and of economies within particular regional groups. This paper introduces the idea of utilising and combining the effects of a...