IDEAS home Printed from https://ideas.repec.org/p/phd/dpaper/dp_2007-03.html
   My bibliography  Save this paper

Closer Trade and Financial Cooperation in ASEAN: Issues at the Regional and National Level with Focus on the Philippines

Author

Listed:
  • Yap, Josef T.
  • Medalla, Erlinda M.
  • Balboa, Jenny D.

Abstract

Trade and financial policies in ASEAN-member countries have contributed to the goal of economic integration. One important feature of this process is the need to narrow the development gap in the region in order to make economic integration more effective and meaningful. This paper examines the Philippine experience with economic reform, particularly in its attempt to integrate with ASEAN. The Philippines simplified its tariff structure and reduced tariffs in accordance with the CEPT Scheme. Monetary and financial reform—particularly adopting the inflation targeting framework—and fiscal consolidation were undertaken to strengthen the financial system and address the fiscal deficit. These efforts also facilitate regional monetary cooperation and integration. However, the Philippines continues to lag behind the larger ASEAN economies particularly with respect to reducing poverty incidence. The Philippine experience has shown the importance of having economic reform supported by strategies to enhance good governance and strengthen institutions.

Suggested Citation

  • Yap, Josef T. & Medalla, Erlinda M. & Balboa, Jenny D., 2007. "Closer Trade and Financial Cooperation in ASEAN: Issues at the Regional and National Level with Focus on the Philippines," Discussion Papers DP 2007-03, Philippine Institute for Development Studies.
    • Handle: RePEc:phd:dpaper:dp_2007-03
    as

    Download full text from publisher

    File URL: https://www.pids.gov.ph/publication/discussion-papers/closer-trade-and-financial-cooperation-in-asean-issues-at-the-regional-and-national-level-with-focus-on-the-philippines
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Rodrik, Dani, 2004. "Industrial Policy for the Twenty-First Century," CEPR Discussion Papers 4767, C.E.P.R. Discussion Papers.
    2. Yap, Josef T., 2005. "Economic Integration and Regional Cooperation in East Asia: A Pragmatic View," Discussion Papers DP 2005-32, Philippine Institute for Development Studies.
    3. Josef T. Yap, 2005. "Economic Integration and Regional Cooperation in East Asia - A Pragmatic View," Trade Working Papers 22003, East Asian Bureau of Economic Research.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Yap, Josef T. & del Prado, Fatima & Balboa, Jenny D., 2010. "Achieving the ASEAN Economic Community 2015: Challenges for the Philippines," Discussion Papers DP 2010-20, Philippine Institute for Development Studies.
    2. Wignaraja, Ganeshan & Lazaro, Dorothea & DeGuzman, Genevieve, 2010. "FTAs and Philippine Business: Evidence from Transport, Food, and Electronics Firms," ADBI Working Papers 185, Asian Development Bank Institute.
    3. repec:phd:pjdevt:pjd_2009_vol__xxxvi_no__2-c is not listed on IDEAS
    4. Jenny D. Balboa & Fatima Lourdes E. Del Prado & Josef T. Yap, 2010. "Achieving the ASEAN Economic Community 2015 : Challenges for the Philippines," Governance Working Papers 23089, East Asian Bureau of Economic Research.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Dilip K. Das, 2008. "South Asia's Integration with the Rest of Asia: a survey," Asian-Pacific Economic Literature, The Crawford School, The Australian National University, vol. 22(1), pages 25-40, May.
    2. Jenny D. Balboa & Erlinda M. Medalla & Josef T. Yap, 2007. "Closer Trade and Financial Cooperation in ASEAN : Issues at the Regional and National Level with Focus on the Philippines," Trade Working Papers 21907, East Asian Bureau of Economic Research.
    3. Kenichi SHIMAMOTO, 2017. "Examining The Existence Of Co2 Emission Per Capita Convergence In East Asia," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(2), pages 11-28, December.
    4. Rai, Durgesh K., 2010. "Asian Economic Integration and Cooperation: Challenges and Ways Forward for Pan-Asian Regionalism," GIGA Working Papers 152, GIGA German Institute of Global and Area Studies.
    5. Dennis, Allen & Shepherd, Ben, 2007. "Trade costs, barriers to entry, and export diversification in developing countries," Policy Research Working Paper Series 4368, The World Bank.
    6. Shafaeddin, Mehdi, 2010. "Trade liberalization, industrialization and development; experience of recent decades," MPRA Paper 26355, University Library of Munich, Germany.
    7. Inayat U. Mangla & Muslehud Din, 2015. "The Impact of the Macroeconomic Environment on Pakistan’s Manufacturing Sector," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 20(Special E), pages 241-260, September.
    8. Lütkenhorst, Wilfried, 2018. "Creating wealth without labour? Emerging contours of a new techno-economic landscape," IDOS Discussion Papers 11/2018, German Institute of Development and Sustainability (IDOS).
    9. Nathan, Max & Rosso, Anna, 2014. "Mapping information economy businesses with big data: findings from the UK," LSE Research Online Documents on Economics 60615, London School of Economics and Political Science, LSE Library.
    10. Vu, Khuong & Hartley, Kris, 2018. "Promoting smart cities in developing countries: Policy insights from Vietnam," Telecommunications Policy, Elsevier, vol. 42(10), pages 845-859.
    11. Ufuk Akcigit & Sina T. Ates & Giammario Impullitti, 2018. "Innovation and Trade Policy in a Globalized World," NBER Working Papers 24543, National Bureau of Economic Research, Inc.
    12. Diogo Ferraz & Fernanda P. S. Falguera & Enzo B. Mariano & Dominik Hartmann, 2021. "Linking Economic Complexity, Diversification, and Industrial Policy with Sustainable Development: A Structured Literature Review," Sustainability, MDPI, vol. 13(3), pages 1-29, January.
    13. Naved Hamid & Maha Khan, 2015. "Pakistan: A Case of Premature Deindustrialization?," Lahore Journal of Economics, Department of Economics, The Lahore School of Economics, vol. 20(Special E), pages 107-141, September.
    14. Hardik A. Marfatia, 2016. "The Role of Push and Pull Factors in Driving Global Capital Flows," Applied Economics Quarterly (formerly: Konjunkturpolitik), Duncker & Humblot GmbH, Berlin, vol. 62(2), pages 117-146.
    15. Frederick van der Ploeg & Steven Poelhekke, 2008. "Globalization and the rise of mega-cities in the developing world," Cambridge Journal of Regions, Economy and Society, Cambridge Political Economy Society, vol. 1(3), pages 477-501.
    16. Ron Boschma, 2021. "Designing Smart Specialization Policy: relatedness, unrelatedness, or what?," Papers in Evolutionary Economic Geography (PEEG) 2128, Utrecht University, Department of Human Geography and Spatial Planning, Group Economic Geography, revised Sep 2021.
    17. Elvira Uyarra & Jens Sörvik & Inger Midtkandal, 2014. "Inter-regional Collaboration in Research and Innovation Strategies for Smart Specialisation (RIS3). S3 Working Paper Series no 6/2014," JRC Research Reports JRC91963, Joint Research Centre.
    18. Alfons Palangkaraya, 2013. "On the Relationship between Innovation and Export: The Case of Australian SMEs," Melbourne Institute Working Paper Series wp2013n04, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
    19. Meiran Zhiyenbayev & Nadezhda Kunicina & Madina Mansurova & Antons Patlins & Jelena Caiko & Vladimir Beliaev & Roberts Grants & Martins Bisenieks & Guldana Shyntore, 2024. "Development of Aggregated Sustainability Indicators for Quality of Life Evaluations in Urban Areas of the Republic of Kazakhstan," Sustainability, MDPI, vol. 16(21), pages 1-30, October.
    20. Ricardo Hausmann & Jason Hwang & Dani Rodrik, 2007. "What you export matters," Journal of Economic Growth, Springer, vol. 12(1), pages 1-25, March.

    More about this item

    Keywords

    regional economic integration; development gap; trade and investment reforms; financial cooperation; governance and institutions;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:phd:dpaper:dp_2007-03. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Michael Ralph M. Abrigo (email available below). General contact details of provider: https://edirc.repec.org/data/pidgvph.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.