Skip to main content Accessibility help
×
  1. Home
  2. Publications
  3. Publishing partners
  4. ISEAS-Yusof Ishak Institute
  5. Content Listing

Refine listing

Refine listing

Access:
Content type:
Publication date:
Apply   From and To filters
Subject: Show more
Journals Show more
Publishers: Show more
Societies Show more
Series: Show more
Collections: Show more

Actions for selected content:

Select all | Deselect all
  • View selected items
  • Export citations
  • Download PDF (zip)
  • Save to Kindle
  • Save to Dropbox
  • Save to Google Drive

Save Search

You can save your searches here and later view and run them again in "My saved searches".

Please provide a title, maximum of 40 characters.
Cancel
×

15726 results in ISEAS-Yusof Ishak Institute

Page 738 of 787

  • IV - The EC Internal Market: Implications for Capital Flows

  • from PART II - COMPLETING THE EC INTERNAL MARKET
  • Book:
    ASEAN and the EC
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    09 November 2017
    Print publication:
    01 January 1991, pp 88-126

  • Summary

    Introduction

    The Commission of the European Communities has already set the pace of a complete liberalization of markets for goods and services by 1992. Integration of financial markets has always been seen as a necessary complementary measure to reduce transaction costs and facilitate the creation of an integrated European market for goods.

    However, integration of financial markets has shown to be extraordinarily difficult because finance is not only a useful service for trade, but also underlies and influences closely the business cycle, price stability, growth, and income distribution. This chapter attempts to identify the likely effects of financial integration on these major variables, recognizing that the difficulties and final gains of liberalization are likely to be dissimilar for each country, depending on country size, the initial macroeconomic configuration, sophistication of its financial sector, and the degree and extent of regulations to be dismantled.

    According to the communication from the Commission to the Council of 23 May 1986, financial integration is expected to proceed in two phases:

  • The first phase aims at liberalizing those transactions linked to the proper functioning of the common market (free circulation of goods, services, and persons, as well as free establishment) and to the creation of an integrated European Community (EC) capital market (operations in securities).

  • The second phase aims at creating by 1992 a unified financial system in the Community through the removal of all the remaining restrictions and controls. The intention is to liberalize erga omnes.

    • Although it is likely that most of the gains from financial market integration will be obtained from unrestricted capital mobility, the Community objective is more ambitious. Instead of aiming at a situation where national financial markets retain their identity, albeit connected through capital flows, the Community aims at a truly integrated market. This requires not only the freedom for consumers/investors to borrow or invest funds outside of national markets but also the right for financial firms to operate and sell throughout the Community.

  • V - An Analysis of ASEAN-EC Trade in Textiles and Electronics, 1980–88

  • from PART III - IMPLICATIONS FOR ASEAN
  • Book:
    ASEAN and the EC
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    09 November 2017
    Print publication:
    01 January 1991, pp 129-152

  • Summary

    Introduction

    This chapter analyses the trade in textiles and electronics among the members of the Association of Southeast Asian Nations (ASEAN) and those of the European Community (EC) between 1980 and 1988 under three aspects:

  • Market shares: Determination of the size and growth of ASEAN shares on EC import markets. Comparison of ASEAN's market shares with those of the other Asian newly industrializing countries (NICs) on the one hand and with those of newly industrializing EC-member countries (ECL) on the other. Comparison of actual and hypothetical market shares which would have materialized if the commodity and/or regional composition of ASEAN exports to the EC had been the same as that of total EC trade in textiles and electronics (including intra-EC trade).

  • Intra-industry trade shares: Determination of the degree of bilateral trade in each product group, of overlapping of exports and imports in ASEAN-EC trade and comparison with those in EC trade with other Asian and European newly industrializing countries. The share of intra-industry trade, of bilateral transactions, as opposed to inter-industry trade, to unilateral transactions, is taken as an indicator of the importance of specific forms of vertical and horizontal specialization between ASEAN and the other NICs on the one hand and the EC on the other.

  • Export-import price differences: Relative differences between export and import unit prices within single product groups are taken as indicators of the importance of vertical specialization between ASEAN and the other NICs on the one hand and the EC on the other. Vertical specialization in this context means specific patterns of international division of labour across and within product groups: (a) specialization in the overall production of labour-, capital, or research- intensive products; and (b) specialization in labour-, capital-, or research- intensive stages of particular production processes.

    • The computations are based on EC trade statistics of 1980-88, published by the Statistical Office of the European Community (EUROSTAT).

  • I - Introduction

  • Nirmal K. Bista
  • Book:
    PTA in Intra-ASEAN Trade
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    21 October 2015
    Print publication:
    01 January 1991, pp 1-2

  • Summary

    The Association of South East Asian Nations (ASEAN) and South Asian Association for Regional Co-operation (SAARC) are two Asian regional groupings striving for the speedy development of member countries. The ASEAN member states, Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand, are economically better off compared to their SAARC counterparts — Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka. A late starter, the SAARC is organizationally less mature than ASEAN.

    As in the case for most regional groupings, fast changing global economic scenarios have prompted these Asian economies to form a group to help absorb the occasional shocks and enhance their economic capabilities. Even though free trade is obviously the best policy from the point of view of world welfare, preferential trading within a group to promote intra-regional trade is regarded as a “second best” policy inherent in customs union theories.

    Tariff reduction — considered as one of the many aspects of preferential trading — is generally aimed at achieving greater competition within the region, as well as increasing the size of markets, and using economies of scale eventually to lower costs. Preferential Trading Arrangements (PTA) have been adopted as one of the measures to promote intra-regional trade in ASEAN.

    This paper highlights the operation of ASEAN PTA, and identifies issues which could be of relevance to SAARC that has yet to incorporate trade co-operation in its sphere of activities.

  • V - Conclusion

  • Ranjit Maligaspe
  • Book:
    ASEAN-South Asia Trade
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    21 October 2015
    Print publication:
    01 January 1991, pp 33-33

  • Summary

    This article has examined the scope of ASEAN-South Asia regional co-operation in the development of trade in primary commodities as a component in South-South co- operation. The first section of the analysis examined what countries in the region could attempt to achieve within the global institutional framework. The active support of the North is mandatory; otherwise the attempt would be mere rhetoric. The second section focused on the improvement of the production-marketing process of the commodities. It's success would depend on the willingness to help a competitor or ability to compete. The third section was on the intra-regional trade within the group, which is limited mostly because of the complementary nature of the commodities. In addition to these factors, low productivity and regular production shortfalls in certain primary commodities could impede co-operation among countries in the region. Although promising on the surface, as a component in the South-South co-operation, this has its own drawbacks.

  • 8 - Marketization of Public Utilities in ASEAN: Focus on the Public Transport Sector

  • from PART THREE
  • Book:
    Marketization in ASEAN
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    10 November 2017
    Print publication:
    01 January 1991, pp 102-120

  • Summary

    Overview

    The development ideology prevalent during the 1970s called on the state to play a more active role in the development process. The influence of this ideology is more apparent in developing countries such as those in the Association of Southeast Asian Nations (ASEAN) than in developed countries as their governments have established various state enterprises to correct perceived market failures, rationalizing that the market mechanism is unable to provide both collective and merit goods. Moreover, the private sector's inability to invest in sectors or industries with unusually high commercial and non-commercial risks became natural conduits for government assistance and direct economic participation. In the Philippines, the government took the responsibility for providing most public utilities, including public transport services. Transport per se formed part of a new ideological package called the “eleven basic needs of man.” Conceived by Mrs Ferdinand Marcos, the ideology rationalized the existence of the Ministry of Human Settlements in the early 1970s, and made it imperative for government to provide facilities, or access to it. to satisfy people's “basic needs”. Thus, government built and managed infrastructure requirements (for example housing and recreation facilities) and provided direct services (for example the operation of the Food Terminal, Inc. and the Metro Manila Transport Corporation [MMTCj) whenever applicable. In Malaysia and Singapore, similar inclinations were apparent in government efforts to institutionalize and improve the delivery mechanism for public utilities and the different modes comprising the transport system.

    Specifically, the initiative and more importantly, the push to “marketize” stateowned enterprises (SOEs) in the Philippines, particularly utilities, have been selective. Among the public utilities which the government either fully owns, or maintains a majority ownership of, only a few are expected to be in the hands of the private sector in the next few years. More notable among these are the Manila Gas Corporation, a subsidiary of the National Development Company, and the Metro Manila Transport Corporation. In the water utilities sector, there is no similar tendency to privatize, or at least create a contestable environment to promote greater efficiency in such firms as the Metropolitan Waterworks and Sewerage System and the Local Water Utilities Administration.

  • XI - The European Currency System and ASEAN

  • from PART III - IMPLICATIONS FOR ASEAN
  • Book:
    ASEAN and the EC
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    09 November 2017
    Print publication:
    01 January 1991, pp 318-342

  • Summary

    The Challenge of the European Currency System for ASEAN?

    The single European market in 1992 has become a major point of interest in our world today. The programme is expected to produce not only substantial changes in different areas within the European Community (EC) but in other countries as well. In the mean time, countries outside the EC have started to dwell seriously on the potential impact of such a programme upon their own economies.

    While the countries of the Association of Southeast Asian Nations (ASEAN) enjoy close economic relations with the EC, they also follow closely the activities centring around 1992. Their concerns are mainly concentrated in the real sector of international trade in goods and services and international investment. These two areas are in fact at the very core of economic ties between the two regional groupings. The EC's move towards 1992 means that the ASEAN countries have to adjust themselves in these sectors so as to be more competitive in the coming years. The famous fearful jargons of the time include “standards of goods”, “reciprocity”, “rules of origins”, while a magical message speaks of twelve markets being opened as never before. Whether or not one likes it, the wheels of the EC single market programme are already set in motion and the EC invites everyone to participate and become accustomed with it from now on.

    Because of the cautious way the European Currency System (ECS) presented its programmes initially, the ASEAN countries appeared to be less preoccupied with the ECS during current formulations held at different forums. It was only after the Madrid summit in June 1989 that the EC began to shed some light on a more interesting direction for the ECS. It is in ASEAN's interest to see how such a system can contribute to the stability of exchange rates in tomorrow's world and to see what part ASEAN can play in the new system.

  • 5 - The Transfer of Public Functions: A European Perspective

  • from PART TWO
  • Book:
    Marketization in ASEAN
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    10 November 2017
    Print publication:
    01 January 1991, pp 50-60

  • Summary

    National and International Developments

    Privatization as a National Phenomenon

    The modern state in Europe, developed out of the national consciousness of its citizens, is by its very nature a national state. This does not mean that we cannot find different forms of public life in a country or congruence between governments in different countries. Belgium may serve as an example; after establishing a new constitution, the Walloon and the Flemish parts of the public administration have developed in different directions. The nature of public law, which is quite similar on the whole continent, confirms the second statement. However, the administrative practice of the European Community (EC) highlights what in administrative science is classified as the difference between classical administration — such as in France, Germany, etc. — and civic culture administration — for example Great Britain.

    Despite such distinctions, the line between public and private functions is drawn by the political-administrative culture of the national state. This can clearly be seen by the different meanings for the term “privatization”. Even within the European context, it is difficult to discuss privatization under this term as different approaches are subsumed according to the various national experiences. For some, extending the autonomy of a public enterprise or introducing profit orientation constitutes privatization. For others the term privatization is restricted to a transfer of ownership either in the formal sense of changing the legal structure, or in the material sense of an actual transfer of ownership. Taking into consideration the situation outside Europe, including the developing countries, means adding more problems to the understanding of the term privatization. Often, the only solution is to specify the respective politico-economic problem.

    The distinction between public and private functions in the first place determines which instruments can be applied later to change this distinction in favour of the private sector. This is obvious in the case of the United States of America. In accordance with the distinctive administrative culture there the discussion on privatization centres on certain instruments such as contracting-out, franchise, voucher system and self-service arrangements.

  • II - Structural Change and Energy Policy in ASEAN

  • Edited by Shankar Sharma, Fereidun Fesharaki Fesharaki
  • Book:
    Energy Market and Policies in ASEAN
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    21 October 2015
    Print publication:
    01 January 1991, pp 26-56

  • Summary

    ASEAN as a group has a fast-growing economy. The economic performance of individual member countries – Brunei, Indonesia, Malaysia, Philippines, Singapore, and Thailand – has been impressive during the last two-and-a-half decades. The success of the economic development, in general, can be attributed to their market-oriented, outward-looking economic policies.

    The region, whose economy is closely related with the energy sector, comprises both energy importers and energy exporters. Three major producers of oil and gas – Indonesia, Malaysia, and Brunei – depend heavily on oil and gas exports for foreign exchange earnings and government revenues. Singapore, the largest oil-refining and trading centre in the region, is a major exporter of petroleum products. On the other hand, the Philippines and Thailand depend overwhelmingly on imported oil. The high degree of dependence on energy has made the economy of these countries vulnerable to energy prices. Despite the impressive economic growth, the region was greatly affected by the oil crises.

    Rapid price increases and vulnerability in supply in the 1970s led oil-importing countries to pursue various counter-acting policies. ASEAN countries formulated and implemented comprehensive energy policies; exploration and production activities of energy resources were intensified. Substitutions of other sources of energy for oil were sought and encouraged. Efforts were also made to increase the efficiency in energy use. Different pricing policies were adopted and macroeconomic policies were adjusted to ease the adverse impact of the oil crises. However, because of the diverse nature of the countries, the policy responses to the energy crises and the experiences were different.

    The objective of this chapter is to provide a comparative analysis of the energy policies of ASEAN member countries, especially after 1973. Policy response to the crisis, relating to demand and supply management, pricing, non-pricing, and macroeconomic policies, is also discussed.

    DEMAND AND DEMAND MANAGEMENT

    ASEAN's share in the world's total energy consumption is small. The region accounts for only about 1.2 per cent of the world's total although it has more than 5 per cent of the population.

  • I - The EC Internal Market and ASEAN: An Overview

  • from PART I - INTRODUCTION
  • Book:
    ASEAN and the EC
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    09 November 2017
    Print publication:
    01 January 1991, pp 3-18

  • Summary

    Introduction

    European economic integration has gathered new momentum since Member States of the European Community (EC) signed the Single European Act in February 1986 aimed at creating a region with no internal frontiers and with a free movement of goods and services, capital, labour, and the professions by the end of the year 1992. Since then, numerous decisions have been taken by EC heads of governments, the EC Council of Ministers, the EC Commission, the European Parliament, and the twelve national parliaments in order to achieve this ambitious goal. As third countries are increasingly becoming more aware of the emerging EC internal market, they are increasingly concerned about the implications and repercussions of this single European market on their future economic relations with the EC and the impact on their national economies.

    The implications and repercussions of the EC internal market on economic relations with non-member countries and with the Southeast Asian economies in particular have to be studied thoroughly in order to enable these economies to adjust accordingly and to react positively to impending changes in the international economic environment. For quite some time, discussions on the external dimension of the EC internal market have been dominated by fears that the EC would become more protectionist and create a fortress Europe. Interestingly enough, the term “fortress Europe” emerged within the increasingly protectionist climate in Washington, where, in the context of the Omnibus Trade Bill debate, polemic slogans such as this obviously were perceived to be helpful to rally support for the introduction of stiffer protectionist measures on the part of the United States (see also Nölling 1988).

    Fears regarding the implications of the EC internal market for non-members may have also been induced by a lack of detailed and comprehensive information and thorough analyses. Not only do non-member countries lack the necessary information, but the EC itself was preoccupied with the internal problems of the completion of a truly common market and almost entirely overlooked the external dimension of the EC 1992 programme.

Page 738 of 787