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The Convergence Clubs of Regional Comprehensive Partnership (RCEP) Countries: A wise choice?

Jurnal Ekonomi Malaysia

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Title The Convergence Clubs of Regional Comprehensive Partnership (RCEP) Countries: A wise choice?
 
Creator Awang Marikan, Dayang Affizzah
 
Subject —
RCEP; ASEAN; GDP per capita; Convergence
 
Description This investigation used the concepts of Phillips and Sul (2007), a non-linear approach on the income convergence issues of the RCEP countries to evaluate empirically the income convergence during the period 1997-2015. Although the economies of ASEAN+6 FTAs have been shown to give the most welfare gain compared to ASEAN, an important issue that needs to be addressed is whether these countries are likely to be suitable candidates for the RCEP. Evidence from income convergence indicate that a group of rich countries, namely Singapore, Japan, New Zealand and Brunei comprised of the core clubs. Malaysia, China, Thailand and Indonesia as the other newly industrialized economies clustered into a group. Finally, Vietnam, Laos, India, Myanmar and Cambodia, these developing countries form another group, converging to each other’s.  Seven clubs convergence implies that the RCEP countries in the investigation still indicate weak convergence among them which illustrate relatively strong dissimilarity in its economic structure as a whole. An important implication of this study is that, for strengthening economic cooperation and integration among the ASEAN economies and their counterpart, the 6 FTAs for their long-run sustainable economic growth, the finding of convergence suggests potential chances. The study shows that choices of countries are very important to establish the bloc
 
Publisher Universiti Kebangsaan Malaysia
 
Contributor —
 
Date 2018-01-03
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Identifier http://ejournal.ukm.my/jem/article/view/18178
 
Source Jurnal Ekonomi Malaysia; Vol 51, No 2 (2017): Jurnal Ekonomi Malaysia
0126-1962
 
Language en
 
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