Financial integration challenges in ASEAN beyond 2015 can be grouped into two broad classes. The first classes of challenges are the regulatory and infrastructure challenges of financial market integration itself. The second pertains to monetary and fiscal policy regimes and how they are...

Investment liberalization is central for ASEAN to attract greater FDI inflows and intra-region direct investment flows. This paper focuses on measuring and examining the progress and challenges in the implementation of the investment liberalization initiatives in the AEC Blueprint 2009–2015....

ASEAN Economic Ministers signed the Agreement on the Movement of Natural Persons (MNP) in 2012. This is a new instrument potentially facilitating the free flow of goods, services, investment, and skilled labour, thus contributing to the establishment of an ASEAN single market and production...

We examine the transmission of economic shocks both from the rest of the world into the ASEAN region, as well as the transmission of such shocks from the rest of the row and ASEAN into a typical AMS. The approach we take is three-pronged. First, we will look into the trade and financial linkages...

In this paper, we investigate the dynamic nature of trading using Japanese firm-level data. Specifically, we examine state dependence and cross effects in exporting and importing. Our findings are as follows. First, we found significant state dependence and cross effects in exporting and...

Hong Kong proposed its possible accession to the ASEAN-China Free Trade Area (ACFTA) in November 2011. This report examines how much Hong Kong's accession to ACFTA will impact on the trade in goods between ASEAN and China. It is likely that the direct impact of Hong Kong's accession will be...

We conduct a set of global computable general equilibrium (CGE) simulations to evaluate economic effects of Hong Kong’s accession to the ASEAN-China FTA (HK-ACFTA) by implementing tariff elimination, logistics, enhancement, and reduction in service trade barriers. All the participating...

ASEAN countries have liberalized intra-ASEAN trade over the last 20 years by establishing the ASEAN Free Trade Area (AFTA). This paper aims to examine the impact of trade liberalization under AFTA on intra-ASEAN trade. By applying a gravity model, we find positive and significant trade creation...