When ASEAN celebrated its fiftieth anniversary, it was asked if an organization founded on principles appropriate for the 1960s remains relevant today. Its critics point to the organization’s recent failures to indicate that continued reliance on the “ASEAN Way” puts it on the road to...

This paper examines the effects of the Asian Financial Crisis (AFC) and Global Financial Crisis (GFC) on economic growth in the ASEAN-5 countries. Indonesia, Malaysia and Thailand were found to be most affected by the AFC but not the GFC. Additionally, for Malaysia and Thailand, real output...