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By Jose L. Tongzon

This up to date and revised version of "The Economies of Southeast Asia" offers an exam of problems with paramount value for Southeast Asian economies together with: the commercial implications of the 1997 Asian predicament for either older and more recent participants of ASEAN; the position of presidency and FDI in ASEAN financial development and improvement; alternate styles with the U.S., Japan and the ecu and the industrial implications of China's accession to the WTO for ASEAN international locations; the environmental outcomes of industrialization and development; the emergence of monetary development triangles and their contribution to ASEAN development and neighborhood cooperation; the customers and demanding situations of ASEAN financial cooperation ahead of and after the challenge; and the most important demanding situations dealing with ASEAN member nations within the aftermath of the difficulty.

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2, since 1980 the reliance by ASEAN4 resource-rich countries (that is Indonesia, Malaysia, the Philippines and Thailand) on primary exports has declined. Since the 1980s they have also diversified their primary commodity exports to include other primary products such as liquefied natural gas, palm oil, wood, marine products and copper in addition to oil, natural rubber and tin (in the case of Indonesia and Malaysia), and fruits, corn, coffee, tapioca, cassava, cacao, natural fibres and marine products (in the case of the Philippines and Thailand) in addition to sugar, copra, coconut oil and rice.

The above findings were further confirmed by Abimanyu (1995) for Indonesia, Kawai (1994) for Malaysia, Austria and Martin (1995) for the Philippines, and Limskul (1995) for Thailand. Studies to quantify the relative influences of the sources of output growth for Singapore have also supported the prominence of capital accumulation. Tsao’s study (1986), which examined the period 1966–80 for Singapore using the growth accounting framework, found no role for technological progress (TFP) growth, a marginal role for labour force and a very important role for capital accumulation, behind Singapore’s high growth rates in its early years of industrialization.

2b shows. 1 Transformation from Low-income to Middle and Upper-middle income Reflecting this rapid growth, the rate of improvement in living standards had been significant for the ASEAN5 countries. 00 15 878 400 1 848 575 7 160 710 14 276a 570 2 320 730 13 057 1 420 15 918 888 3 495b 1 010 20 380 – 20 589 3 388 8 763 2 660 21 493 6 816 Notes: abased on available 1990 data. bbased on Malaysia’s 1993 population count. cbased on 1993 population count. din terms of per capita GDP (PPP). –: not available.

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