Problems of regional economic integration: the case of ASEAN
Abstract
Purpose – This paper is devoted to disclosing urgent and problematical issues of regional economic integration taking into consideration the case of the Association of South East Asian Nations (ASEAN).
Methodology – The primary research methodology of this paper is based on conducting the comparative analysis of existing patterns of macroeconomic development, political differences and social issues within ASEAN nations that possibly lead to integration issues. It is implemented systematic vision, causes and consequences analysis, methods of statistic grouping and expert assessment.
Originality/Value – Rapid growth of the ASEAN community world has set an example for the rest to notice, observe and follow since the last decade. The emergence of ASEAN economies was based on market-driven systems and open-door trade within the countries in ASEAN and partner countries China. Although, economic integration and cooperation can lead to the birth of new opportunities for ASEAN, there are several issues that have been raised and need to be given attention to. Moreover, in the paper it is also studied integration issues of ASEAN with China that are resulting to internal disputes within several ASEAN nations that is a very urgent international issue now.
Findings – In the article it has been explored the problems of ASEAN integration during the nine-year period, from 2007 till 2016. The main goal of the research is to analyze the current situation, problems and challenges of ASEAN integration in context of government blueprints till 2025. Results indicate that significant economic, financial, political and social disparities in the ASEAN are causing regional integration issues. The paper examines the issues of regional integration in ASEAN and elaborates on the possible solutions for future advancements by conducting a situational and economic comparative analysis that will highlight the key issues within ASEAN economic integration.
About the Authors
I. V. Onyusheva
Turan University
Kazakhstan
Kazakhstan
PhD, Associate Professor, Professor of RAM, RANH
Almaty
R. Dugar
Stamford International University
Thailand
Thailand
MBA
Bangkok
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Review
For citations:
Onyusheva I.V., Dugar R. Problems of regional economic integration: the case of ASEAN. Central Asian Economic Review. 2018;(2):81-90.
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