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ASEAN Beyond the Regional Crisis

Challenges and Initiatives

Mya Than

Publication Year: 2001

As the regional financial and economic crisis has bottomed out and the ASEAN countries are on the recovery path, this volume seeks to carry out a post-mortem on the crisis to evaluate the sustainability of the recovery and the long-term direction of the ASEAN economies. It also examines the challenges and competitiveness of these economies which have become significant issues in the post-recovery process. Since it is not sufficient to address the economic and financial aspects, the volume also looks at the human and social dimensions, such as food security, poverty, and cross-border pollution. Furthermore, in the wake of the regional crisis, ASEAN has been criticized as being ineffective. This has prompted a re-examination of the relevance of the regional grouping in its present form, evaluating ASEAN's performance, challenges and opportunities and assessing whether there is a need for change.

Published by: ISEAS–Yusof Ishak Institute

Title Page, Copyright

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pp. v-vi

List of Tables

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pp. vii-viii

List of Figures

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pp. ix


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pp. x-xii


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pp. xiii

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1. ASEAN Beyond the Crisis: A Bird's-eye View

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pp. 1-10

Leaving behind the worst part of the “Asian flu”, ASEAN is entering the new post-crisis era. With the entry into the new era, ASEAN will have to contend with new challenges and unresolved issues as well as opportunities in terms of political, strategic, institutional, economic, and social and cultural dimensions. ...

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2. East Asia: Crisis and Recovery

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pp. 11-28

The period 1997–98 was a very difficult time for Pacific Asia. Indonesia, Malaysia, South Korea, and Thailand experienced their worst economic performance in the last three decades, with their output in 1998 declining from 6 to 14 per cent. The resulting economic hardship sparked off political changes and social turmoil in these countries. ...

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3. Competitiveness and Sustainable Growth in ASEAN

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pp. 29-47

More than a year after the outbreak of the Asian financial crisis, there still does not seem to be a consensus on the proximate causes and hence what measures ought to be taken to avert its recurrence. Despite the numerous papers (scholarly as well as popular), conferences, publications, and official meetings that have proliferated since the start of the crisis, ...

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4. ASEAN Free Trade Area: Progress and Challenges

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pp. 48-79

Since the establishment of ASEAN in 1967 by the five founding members — Singapore, Malaysia, Indonesia, the Philippines, and Thailand — the political view was carried through as the centre of co-operation for a decade. During the early days of the establishment of ASEAN, there were a number of factors causing political instability in the region, ...

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5. ASEAN Investment Area: Progress and Challenges

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pp. 80-125

The Association of Southeast Asian Nations (ASEAN) has been through rough times in the last couple of years. A vicious currency crisis in Thailand during mid-1997 mutated into a financial crisis, which then spread to the other currencies and financial markets of Southeast Asia, ...

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6. Financial and Macroeconomic Co-operation in ASEAN: Issues and Policy Initiatives

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pp. 126-147

While the intellectual debate about the exact causes of the crisis in East Asia in 1997–98 and the appropriateness of various remedies rages on, one thing is clear: the boom-bust cycle in East Asia was caused by foreign bank lending. Indeed, the major part of the net US$130 billion outflow of capital from the four crisis-hit ASEAN economies ...

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7. Food Security in ASEAN

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pp. 148-175

The ASEAN Eminent Persons Group (EPG), in June 1999, decided to draft the following proposals for the ASEAN Summit in 2000. They included the ASEAN Vision 2020, and proposals related to Post-Asian Crisis Economic Scenarios, Food Security, ASEAN Monetary Fund, and Civil Societies. ...

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8. ASEAN Co-operation and the Environment

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pp. 176-202

Much writing on environmental issues tends to be confined to the environment as an exclusive subject. We may hear about endangered species, the loss of rainforests and wetlands, global climate change as well as the problems of cities, such as overpopulation, and dwindling fish stocks. ...

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9. ASEAN and the International Trading System: Regional Trade Arrangement vs. the WTO

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pp. 203-242

This chapter examines ASEAN regional economic arrangements in the light of the emerging global trading system operating within the multilateral framework of the World Trade Organization (WTO). It focuses on the issues to keep in mind when a government of an ASEAN country considers the relation between regional integration and the multilateral system. ...

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10. ASEAN and Its Inter-Regional Economic Links

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pp. 243-273

ASEAN was founded in 1967 with political motives and was not intended to be a cohesive economic entity or bloc. The ASEAN economies are mostly open in nature and as a consequence, they depend very much on economic relations with other countries outside the region. ...

Appendix I: ASEAN's Relevance: Has it Become Questionable?

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pp. 274-282

Appendix II: Is ASEAN Still Relevant? Some Thoughts from a European Perspective

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pp. 283-288


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pp. 289-304

E-ISBN-13: 9789812306043
Print-ISBN-13: 9789812300997

Page Count: 304
Publication Year: 2001

Edition: 1

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Subject Headings

  • ASEAN -- Congresses.
  • Southeast Asia -- Economic integration -- Congresses.
  • Southeast Asia -- Economic conditions -- Congresses.
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