China’s Three-Pronged Strategy on Regional Connectivity

Since the BRICS summit in July 2014 in Brazil, when five developing member countries announced the establishment of the New Development Bank (NDB), there has been widespread media coverage on regional connectivity. One major step forward was in October 2014, when 21 Asian countries signed a Memorandum of Understanding (MOU) on the establishment of the Asian Infrastructure Investment Bank (AIIB) [...]

Economic Regionalization in East Asia

Recent trends in the world economy show the processes of globalization and regionalization proceeding simultaneously. Economic globalization, as measured by the ratio of foreign trade to gross domestic product (GDP), soared from 25 to 46 percent from 1960 to 1999. Other globalization indicators are foreign direct investment (FDI), which grew more than 90-fold since 1970, and world trade [...]

Will Vietnam’s Growth Last?

Since 1986, when the Vietnamese government began the policy of “economic renovation” called doi moi, and especially from the early 1990s, when it opened up to the west, Vietnam has been deeply involved in globalization. The evidence of this process is the last ten years’ high rate of economic growth. I visit Vietnam almost every month and can attest to the fast tempo of change. The old [...]

Thailand’s Positioning in a New Global Economic Paradigm

The essence of Prime Minister Thaksin Shinawatra’s Dual Track Policy is an effort to maintain stable economic growth: a slowdown in exports due to slackening external demand would be met with a boost in domestic demand through government policy measures and, conversely, domestic demand stimulation would be held back when exports pick up. This policy, together with the prime minister’s Asia [...]

The Philosophy of Sufficiency Economy

The economic crisis of 1997 affected everyone in Thailand, even His Majesty the King. Seeing many of his subjects suffering, he advised the Thai people to change their economic philosophy in order to cope with present economic adversity and withstand future economic insecurity. His Majesty’s words have become known as the Philosophy of Sufficiency Economy and have been used as the guiding [...]

The “Bombay 5-6”: Last Resource Informal Financiers for Philippine Micro-Enterprises

As a developing country, the Philippines has a large informal sector comprised of micro-enterprises. Many of these are severely resource-constrained small vendors operating in public markets, whose survival in business relies heavily on access to financing. This usually comes from the informal sector sector as well in the form of informal financiers called “5-6.” Two types of 5-6 financiers [...]

Book Review— The Philippine Economy: Development, Policies, and Challenges

The Philippine Economy: Development, Policies, and ChallengesArsenio Balisacan and Hal Hill, editorsQuezon City / Ateneo University Press / 2003 This edited volume represents the latest important update to the study of problems of Philippine economic development. Written with depth by highly respected authors, the book is a comprehensive review of the various aspects of the Philippine economy. [...]

IDEAs— International Development Economics Associates

IDEAs: International Development Economics Associates IDEAs, or International Development Economics Associates, is a pluralist network of progressive economists across the world. It seeks to undertake and promote a range of activities including research, teaching, dissemination, and application of critical economic analyses of economic policy and development. The [...]