Except for the history of colonialism, the European Union (EU) and the Association of Southeast Asian Nations (ASEAN) have similar roots and they share initial targets to foster economic growth and competitiveness. However, the EU and ASEAN have diverging economic integration paths. The ASEAN...

As Asia considers greater harmonization and integration of its financial systems, it would be well-advised to consider the experience of Europe, particularly the eurozone. There are many lessons to be drawn from Europe about how to implement such integration, mostly negative. It is particularly...

Thailand's increasing importance as a regional co-production base and as an intra-regional trade and border trade hub is due mainly to recent changes in its economic structure, namely, the lack of operational workers, rises in wages, and increases in outward foreign direct investment (FDI),...

The paper reviews the experience of regional economic cooperation in the Gulf Cooperation Council (GCC). Conceived as a regional security alliance, the GCC has evolved to become a common market in the making. All six GCC countries participate in the common market project, and additional...

East Asia is a region of great global significance, currently accounting for around 30% of the global economy by most measures, e.g. production, trade, investment and finance. It has also become increasingly integrated in various ways. Integration at the micro-level has steadily progressed since...

Since the Asian financial crisis of 1997‒1998, the Association of Southeast Asian Nations (ASEAN) has continuously worked on the context of financial integration and put tremendous effort into ensuring financial stability in the region. Two ASEAN Economic Community (AEC) blueprints have been...

This paper explores the long-term challenges for trade and foreign direct investment (FDI) of the Association of Southeast Asian Nations (ASEAN). The region has emerged as an important production base for multinational corporations by joining East Asia's supply chains. While proceeding to...

This paper shows that regional trade integration shifts the burden of the exchange rate adjustment towards the less integrated trading partners. Thus, they bear the cost of trade balance expansion, while competitive exchange rate moves vis-a-vis RTA trading partners result in no expansion or...

Covering major Asian economic blocs and dialogues, this study comprehensively reviews the true progress of "Asian" economic integration in comparison with the European Union (EU) and examines the factors contributing to the integration. The results show that comprehensive continent-wide economic...

Europe and Asia followed very different paths to economic integration after 1945. By 2000, an economic union with free movement of goods and factors of production and a common currency linked much of Europe. Meanwhile, effective economic integration agreements were absent from Asia, although...