SOUTHEAST ASIAN MACROECONOMIC MANAGEMENT: PRAGMATIC ORTHODOXY?
DOI:
https://doi.org/10.14203/jmi.v39i2.623Keywords:
Macroeconomic, Pragmatic, Asian economiesAbstract
This article provides an introductory analytical survey of macroeconomic policies and outcomes in seven Southeast Asian economies, Cambodia, Indonesia, Malaysia, The Philippines, Singapore, Thailand and Vietnam. It draws on the framework proposed by Corden (1996) to explain the generally good macroeconomic outcomes in the earlier World Bank study of the East Asian ‘miracle economies’. The main conclusion is that, notwithstanding the institutional and economic diversity of the seven, macroeconomic outcomes have generally been good. However, there are some notable exceptions to this generalization, and the unfinished reform agenda is substantial in some countries
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