IDEAS home Printed from https://ideas.repec.org/p/ris/adbewp/0544.html
   My bibliography  Save this paper

Constructing the Asia-Pacific Regional Cooperation and Integration Index: A Panel Approach

Author

Listed:
  • Park, Cyn-Young

    (Asian Development Bank)

  • Claveria, Racquel

    (Asian Development Bank)

Abstract

In this paper, we propose a panel approach in the construction of the Asia-Pacific Regional Cooperation and Integration Index (ARCII) to strengthen the index’s ability to track the progress of economic integration in the region over time. Panel-based procedures are employed in imputing missing values, normalizing raw data, and deriving dimensional and subdimensional weights via principal components analysis. Findings suggest the pace of integration in Asia was broadly steady over the 11-year sample period (2006–2016). However, modest gains have been made as a majority of economies in the sample have moved up in their levels of regional integration from 2006 to 2016. Of the six dimensions featured in the ARCII, trade and investment and movement of people are the main drivers of regional integration, while the money and finance dimension was the weakest link. Based on global normalization, Asia comes second to the European Union (EU) in progress on regional integration, but in recent years a few Asian economies have broken through to the top tier dominated by the EU economies.

Suggested Citation

  • Park, Cyn-Young & Claveria, Racquel, 2018. "Constructing the Asia-Pacific Regional Cooperation and Integration Index: A Panel Approach," ADB Economics Working Paper Series 544, Asian Development Bank.
    • Handle: RePEc:ris:adbewp:0544
    as

    Download full text from publisher

    File URL: https://www.adb.org/publications/asia-pacific-regional-integration-index-panel
    File Function: Full text
    Download Restriction: no
    ---><---

    Other versions of this item:

    References listed on IDEAS

    as
    1. Axel Dreher, 2006. "Does globalization affect growth? Evidence from a new index of globalization," Applied Economics, Taylor & Francis Journals, vol. 38(10), pages 1091-1110.
    2. Cyn-Young Park & Racquel Claveria, 2018. "Constructing the Asia-Pacific Regional Cooperation and Integration Index: A Panel Approach," Working Papers id:12813, eSocialSciences.
    3. Ben Lockwood, 2004. "How Robust is the Kearney/Foreign Policy Globalisation Index?," The World Economy, Wiley Blackwell, vol. 27(4), pages 507-523, April.
    4. Huh, Hyeon-Seung & Park, Cyn-Young, 2018. "Asia-Pacific regional integration index: Construction, interpretation, and comparison," Journal of Asian Economics, Elsevier, vol. 54(C), pages 22-38.
    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. Vanessa S. Tchamyou & Samba Diop & Simplice A. Asongu, 2021. "African Women Vulnerability Index (AWVI): Focus on Rural Women," Working Papers of The Association for Promoting Women in Research and Development in Africa (ASPROWORDA). 21/008, The Association for Promoting Women in Research and Development in Africa (ASPROWORDA).
    2. Yameogo Claire E. W. & Omojolaibi Joseph A., 2022. "Regional Economic Integration and Its Impact on Income Distribution and the Poverty Level: The Case of the WAEMU Zone," Quaestiones Geographicae, Sciendo, vol. 41(2), pages 21-35, June.
    3. Gharleghi, Behrooz, 2019. "Eurasia Integration Index," MPRA Paper 94347, University Library of Munich, Germany.
    4. Ullah, Atta & Pinglu, Chen & Ullah, Saif & Qaisar, Zahid Hussain & Qian, Ningyu, 2022. "The dynamic nexus of E-Government, and sustainable development: Moderating role of multi-dimensional regional integration index in Belt and Road partner countries," Technology in Society, Elsevier, vol. 68(C).
    5. Cyn-Young Park & Racquel Claveria, 2018. "Constructing the Asia-Pacific Regional Cooperation and Integration Index: A Panel Approach," Working Papers id:12813, eSocialSciences.
    6. Cyn-Young Park, 2021. "Tracking Regional Integration in Northeast Asia: A composite index approach," Discussion papers 2106, ERINA - Economic Research Institute for Northeast Asia.

    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. Nicole Palan & Nadia Simoes & Nuno Crespo, 2021. "Measuring fifty years of trade globalisation," The World Economy, Wiley Blackwell, vol. 44(6), pages 1859-1884, June.
    2. Agne Reklaite, 2015. "Globalisation Effect Measure Via Hierarchical Dynamic Factor Modelling," Equilibrium. Quarterly Journal of Economics and Economic Policy, Institute of Economic Research, vol. 10(3), pages 139-149, September.
    3. Gurgul, Henryk & Lach, Łukasz, 2014. "Globalization and economic growth: Evidence from two decades of transition in CEE," Economic Modelling, Elsevier, vol. 36(C), pages 99-107.
    4. Li, KW & Pang, Iris A.J. & Ng, Michael C.M., 2007. "Can Performance of Indigenous Factors Influence Growth and Globalisation?"," MPRA Paper 2083, University Library of Munich, Germany.
    5. Zhou, X. & Li, Kui-Wai, 2010. "Causality between Openness and Indigenous Factors among World Economies," MPRA Paper 36421, University Library of Munich, Germany.
    6. Sethi, Pradeepta & Bhattacharjee, Sankalpa & Chakrabarti, Debkumar & Tiwari, Chhavi, 2021. "The impact of globalization and financial development on India’s income inequality," Journal of Policy Modeling, Elsevier, vol. 43(3), pages 639-656.
    7. Chen, Lurong & De Lombaerde, Philippe, 2014. "Testing the relationships between globalization, regionalization and the regional hubness of the BRICs," Journal of Policy Modeling, Elsevier, vol. 36(S1), pages 111-131.
    8. Savina Gygli & Florian Haelg & Niklas Potrafke & Jan-Egbert Sturm, 2019. "The KOF Globalisation Index – revisited," The Review of International Organizations, Springer, vol. 14(3), pages 543-574, September.
    9. Claudius Gräbner & Philipp Heimberger & Jakob Kapeller & Florian Springholz, 2021. "Understanding economic openness: a review of existing measures," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 157(1), pages 87-120, February.
    10. Enoch Kwaw-Nimeson & Ze Tian, 2023. "Institutional Quality, Foreign Direct Investment, and Regional Integration: Empirical Evidence From CEN-SAD," SAGE Open, , vol. 13(1), pages 21582440221, January.
    11. Cyn-Young Park, 2021. "Tracking Regional Integration in Northeast Asia: A composite index approach," Discussion papers 2106, ERINA - Economic Research Institute for Northeast Asia.
    12. Ullah, Atta & Pinglu, Chen & Ullah, Saif & Qaisar, Zahid Hussain & Qian, Ningyu, 2022. "The dynamic nexus of E-Government, and sustainable development: Moderating role of multi-dimensional regional integration index in Belt and Road partner countries," Technology in Society, Elsevier, vol. 68(C).
    13. Li, Kui-Wai & Zhou, Xianbo, 2008. "The Commutative Effect and Casuality of Openness and Indigenous Factors Among World Economies," MPRA Paper 35298, University Library of Munich, Germany.
    14. Jörg König & Renate Ohr, 2013. "Different Efforts in European Economic Integration: Implications of the EU Index," Journal of Common Market Studies, Wiley Blackwell, vol. 51(6), pages 1074-1090, November.
    15. Tausch, Arno, 2008. "On the world market trajectory of 21 major book publishing companies in globalization and European studies in 100+ countries. From “Amsterdam University Press” via “Palgrave” and “Nova Science Publish," MPRA Paper 9613, University Library of Munich, Germany.
    16. Li, Kui-Wai, 2011. "The Optimal Level and Impact of Internal Factors on Growth," MPRA Paper 36419, University Library of Munich, Germany.
    17. Kurz, Michael & Kleimeier, Stefanie, 2019. "Credit Supply: Are there negative spillovers from banks’ proprietary trading? (RM/19/005-revised-)," Research Memorandum 026, Maastricht University, Graduate School of Business and Economics (GSBE).
    18. Gersbach, Hans & Schneider, Maik & Schneller, Olivier, 2010. "Optimal Mix of Applied and Basic Research, Distance to Frontier, and Openness," CEPR Discussion Papers 7795, C.E.P.R. Discussion Papers.
    19. Dioum, Sokhna Bousso, 2024. "Pauvreté et microfinance dans l’espace de la cedeao: un cluster macroéconomique appliqué [Poverty and microfinance in the ecowas region: an applied macroeconomic cluster]," MPRA Paper 121580, University Library of Munich, Germany.
    20. Sergio Destefanis & Matteo Fragetta & Giuseppe Mastromatteo & Nazzareno Ruggiero, 2020. "The Beveridge curve in the OECD before and after the great recession," Eurasian Economic Review, Springer;Eurasia Business and Economics Society, vol. 10(3), pages 411-436, September.

    More about this item

    Keywords

    Asia; composite index; regional integration;
    All these keywords.

    JEL classification:

    • C38 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Classification Methdos; Cluster Analysis; Principal Components; Factor Analysis
    • C43 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Index Numbers and Aggregation
    • F15 - International Economics - - Trade - - - Economic Integration

    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:ris:adbewp:0544. 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: Orlee Velarde (email available below). General contact details of provider: https://edirc.repec.org/data/eradbph.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.