The Trajectory and Trend of International Political Economy in Southeast Asia

Authors

  • Miranda P. Tahalele International Relations Department, Faculty of Humanities, Bina Nusantara University, Indonesia
  • Ahmad Dhiaulhaq Research Institute for Humanity and Nature, Japan
  • Rhevy Adriade Putra International Relations Department, Faculty of Humanities, Bina Nusantara University, Indonesia
  • Roseno Aji Affandi International Relations Department, Faculty of Humanities, Bina Nusantara University, Indonesia
  • Lili Yulyadi Arnakim International Relations Department, Faculty of Humanities, Bina Nusantara University, Indonesia
  • Tirta Nugraha Mursitama International Relations Department, Faculty of Humanities, Bina Nusantara University, Indonesia

DOI:

https://doi.org/10.21512/jas.v10i2.9184

Keywords:

ASEAN, Southeast Asia, International Political Economy, trends, trajectory

Abstract

International political economy debates in Southeast Asia have expanded in the last decades from the perspectives of development theories in conjunction with the structure of states relations to the links between state-market-society. The article explores the studies of Southeast Asia’s political economy that has stimulated the debate over the past years and its future trends. It intends to analyse the trajectory of the issues and topics identified utilizing structured research of studies in scientific databases and derive discussion on its future topics by looking at the links between state-market-society. The existing topics related to issues of the political economy of Southeast Asia are grouped into themes related to development financing from traditional and emerging donors, State-Owned Enterprises, and regional integration. In addition, it captures the topics based on the trend that are proposed and emerged within the policy discussion and academic forums. The initiated issues are climate change and environment, the importance of sub-regional in ASEAN integration, and digitalisation and technological advancement.

Dimensions

Plum Analytics

References

Acharya, A. (1997). Ideas, identity, and institution‐building: From the ‘ASEAN way’ to the ‘Asia‐Pacific way’?’ Pacific Review, 10(3), 319–346. https://doi.org/10.1080/09512749708719226

Affandi, R. A., & Mursitama, T. N. (2018). Creating sustainable cities by enhancing social capital. IOP Conference Series: Earth and Environmental Science, 126(1). https://doi.org/10.1088/1755-1315/126/1/012142

Aggarwal, V. K., & Chow, J. T. (2010). The perils of consensus: How ASEAN’s meta-regime undermines economic and environmental cooperation. Review of International Political Economy, 17(2), 262–290. https://doi.org/10.1080/09692290903192962

Al-Fadhat, F. (2020). The internationalisation of capital and the transformation of statehood in Southeast Asia. In T. Carroll, S. Hameiri, & L. Jones (Eds.), The Political Economy of Southeast Asia: Politics and Uneven Development under Hyperglobalisation (pp. 177-198). New York: Springer International Publishing.

Ambashi, M. (2020). ASEAN Development and Innovation Strategy in the Era of New Industrialisation. Policy Brief No. 2020-06, July ISSN 2086-8154. Economic Research Institute for ASEAN and East Asia.

Anwar, D. F. (2020). Indonesia and the ASEAN outlook on the Indo-Pacific. International Affairs, 96(1), pp. 111-129.

ASEAN (2020). ASEAN Statistical Yearbook 2020. In ASEAN Statistics (Vol. 18). Jakarta: ASEAN Secretariat

ASEAN (2021). ASEAN State of Climate Change Report: Current status and outlook of the ASEAN region Toward the ASEAN climate vision 2050. Jakarta: ASEAN Secretariat. (https://asean.org/wp-content/uploads/2021/10/ASCCR-e-publication-Correction_8-June.pdf)

Bae, K.H. (2022). Regionalizing Development Cooperation? Examining Intra-ASEAN Regionalism via IAI. Global Governance: A Review of Multilateralism and International Organizations, 28(1), 103-124.

Balassa, B. (1969). The Theory of Economic Integration (Third). London: George Allen & Unwin LTD.

Baldwin, R. E. (2008). The East Asian noodle bowl syndrome. In D. Hiratsuka, & F. Kimura (Eds.), East Asia's economic integration: Progress and benefit (pp. 45-81). London: Palgrave Macmillan UK. DOI:10.1057/9780230227309_3.

Banna, H., & Alam, M. R. (2021). Impact of digital financial inclusion on ASEAN banking stability: implication for the post-Covid 19 era. Studies in Economics and Finance, 18(2). https://doi.org/https://doi.org/10.1108/SEF-09-2020-0388

Beeson, M. (2009). Hegemonic transition in east asia? The dynamics of Chinese and American power. Review of International Studies, 35(1), 95-112. DOI:10.1017/S0260210509008341

Beeson, M. (2014). Regionalism and globalisation in east asia: Politics, security and economic development. Second Edition. New York: Palgrave Macmillan.

Bernards, N., & Cambel-Verduyn, M. (2019). Understanding technology change in global finance through infrastructure. Review of International Political Economy, 26(5), 773-789. https://doi.org/https://doi.org/10.1080/09692290.2019.1625420

Bi, S. (2021). Cooperation between China and ASEAN under the building of ASEAN Economic Community. Journal of Contemporary East Asia Studies, 10(1), 83-107. DOI: 10.1080/24761028.2021.1888410

Carroll, T. (2020). The political economy of Southeast Asia’s development from independence to Hyperglobalisation. In T. Carroll, S. Hameiri, & L. Jones (Eds.), The Political Economy of Southeast Asia: Politics and Uneven Development under Hyperglobalisation (pp. 35-84). New York: Springer International Publishing.

Cheema, G. S., & Rondinelli, D. A. (Eds.). (2007). Decentralizing Governance Emerging Concepts and Practices. Washington DC: Brookings Institution Press.

Chen, C. (2016). Solving the puzzle of corporate governance of state-owned enterprises: The path of the temasek model in Singapore and lessons for China. Northwestern Journal of International Law and Business, 36(2), 303-370.

Chen, L., Urata, S., Nakagawa, J., & Ambashi, M. (Ed.). (2018). Emerging global trade governance: Mega free trade agreements and implications for ASEAN (1st ed.) New York: Routledge. Doi:https://doi.org/10.4324/9781351051309

Cheng-Chwee, K. (2018). Power transitions threaten ASEAN’s hedging role. East Asia Forum Quarterly, 10(1), 22-23.

Choiruzzad, S. A. B. (2019). Save palm oil, save the nation: Palm oil companies and the shaping of Indonesia's national interest. Asian Politics & Policy, 11(1), 8-26. DOI:10.1111/aspp.12431

Choiruzzad, S. A. B. (2020). The confluence of the two seas: The rise of the Indo-Pacific region and ASEAN Centrality. In C. Ergenç (Ed.), ASEAN as a Method: Re-Centering Processes and Institutions in Contemporary Southeast Asian Regionalism (pp. 52-70). New York: Routledge.

Cramb, R. A., & McCarthy, J. F. (Eds.). (2016). The oil palm complex: Smallholders, agribusiness, and the state in Indonesia and Malaysia. Singapore: NUS Press.

Duchacek, I. D. (2019). The territorial dimension of politics: within, among, and across nations. New York: Routledge.

Eckstein, D., Winges, M., Künzel, V., & Schäfer, L. (2020). Global Climate Risk Index 2020 Who Suffers Most from Extreme Weather Events? Weather-Related Loss Events in 2018 and 1999 to 2018. Germanwatch Nord-Süd Initiative e.V.

Einzenberger, R., & Schaffar, W. (2018). The political economy of new authoritarianism in Southeast Asia. Austrian Journal of South-East Asian Studies, 11(1), 1-12.

Elias, J., & Rethel, L. (2016). Southeast Asia and everyday political economy. In J. Elias & L. Rethel (Eds.), The everyday political economy of Southeast Asia (pp. 3-24). Cambridge: Cambridge University Press.

EI-Agraa, A. M. (1989). The theory and measurement of international economic integration. New York: Palgrave Macmillan. https://doi.org/10.1007/978-1-349-10203-7

Elliott, L. M., & Caballero-Anthony, M. (Eds.). (2013). Human Security and Climate Change in Southeast Asia. New York: Routledge.

Engel, S. (2019). South–South Cooperation in Southeast Asia: From Bandung and Solidarity to Norms and Rivalry. Journal of Current Southeast Asian Affairs, 38(2), 218-242.

Enzmann, P., and Moesli, M. (2022). Seizing opportunities: ASEAN country cluster readiness in light of the fourth industrial revolution. Asia and the Global Economy, 2(1). https://doi.org/10.1016/j.aglobe.2021.100021

Ergenç, C. (2020). Introduction: ASEAN after 50: Historical, theoretical, and regional perspectives. In C. Ergenç (Ed.), ASEAN as a Method: Re-Centering Processes and Institutions in Contemporary Southeast Asian Regionalism (pp. 1-11). New York: Routledge.

Ermeydan, B. (2020). Financial cooperation in ASEAN: An inquiry into its place in East Asian financial regionalism. In C. Ergenç (Ed.), ASEAN as a Method: Re-Centering Processes and Institutions in Contemporary Southeast Asian Regionalism (pp. 35-51). New York: Routledge.

Frost, S. (2004). Chinese outward direct investment in Southeast Asia: How big are the flows and what does it mean for the region? The Pacific Review, 17(3), 323-340. DOI:10.1080/0551274042000261489

Fujita, M. (2021). Can ASEAN retain centrality in Indo-Pacific region? - from a GVC point of view. Journal of Contemporary East Asia Studies, 10(1), 108-122. DOI:10.1080/24761028.2021.1892964

Fünfgeld, A. (2019). Just energy? Structures of energy (in)justice and the Indonesian coal sector. In T. Jafry, M. Mikulewicz, & K. Helwig (Eds.), Routledge handbook of climate justice. New York: Routledge.

Gellert, P. K. (2020). The Political Economy of Environmental Degradation and Climate Disaster in Southeast Asia. In T. Carroll, S. Hameiri, & L. Jones (Eds.), The Political Economy of Southeast Asia: Politics and Uneven Development under Hyperglobalisation (pp. 367–387). New York: Springer International Publishing.

Google, Temasek & Bain. (2020). E-Conomy SEA 2020. At full velocity: Resilient and Racing Ahead. Singapore: Google, Temasek, Bain Southeast Asia’s Internet economic research program. https://www.bain.com/globalassets/noindex/2020/e_conomy_sea_2020_report.pdf

Huat, C. B. (2016). State-owned enterprises, state capitalism and social distribution in Singapore. Pacific Review, 29(4), 499-521. Doi:10.1080/09512748.2015.1022587

Jones, D. M., & Jenne, N. (2016). Weak states' regionalism: ASEAN and the limits of security cooperation in Pacific-Asia. International Relations of the Asia-Pacific, 16(2), 209-240. doi:10.1093/irap/lcv015

Jones, L. (2010). Still in the “Drivers’ seat”, but for how long? ASEAN's capacity for leadership in east-asian international relations. Journal of Current Southeast Asian Affairs, 29(3), 95-113. DOI:10.1177/186810341002900305

Jones, L., & Hameiri, S. (2020). Southeast Asian regional governance: Political economy, regulatory regionalism, and ASEAN integration. In T. Carroll, S. Hameiri, & L. Jones (Eds.), The political economy of Southeast Asia: Politics and Uneven Development Under Hybperglobalisation (pp. 199-224). New York: Springer International Publishing.

Juego, B. (2020). IPE scholarship about Southeast Asia: Theories of development and state–market–society relation. In E. Vivares (ed), The Routledge Handbook to Global Political Economy (pp. 488-510). New York: Routledge.

Kaplan, R. D. (2019). A new cold war has begun. Foreign Policy (January, 7). (https://foreignpolicy.com/2019/01/07/a-new-cold-war-has-begun/)

Karim, M. F. (2019). State transformation and cross-border regionalism in Indonesia’s periphery: Contesting the centre. Third World Quarterly, 40(8), 1554–1570. https://doi.org/10.1080/01436597.2019.1620598

Karim, M. F. (2021). When trade and foreign policy collide: Indonesia in Doha development round. The Pacific Review, 34(4), 605–632.

Karim, M. F., Irawan, A. P., & Mursitama, T. N. (2021). Regulatory regionalism and the limits of ASEAN banking integration: The case of Indonesia. Politics, OnlineFirst.

Karim, M. F., & Susanto, A. G. (2021). Power Transition and the United States-China Trade War. Contemporary Chinese Political Economy and Strategic Relations, 7(1), 531–XV.

Karim, S., Naz, F., Naeem, M. A., & Vigne, S. A. (2022). Is FinTech providing effective solutions to Small and Medium Enterprises (SMEs) in ASEAN countries? Economic Analysis and Policy, 75, 335 - 344. https://doi.org/https://doi.org/10.1016/j.eap.2022.05.019

Kilby, P. (2017). China and The United States as Aid Donors: Past and Future Trajectories (Vol. 77). Washington DC: East-West Center.

Kim, K. (2018). Matchmaking: Establishment of state-owned holding companies in indonesia. Asia & the Pacific Policy Studies, 5(2), 313-330. DOI:10.1002/app5.238

Kim, K. (2019). Using partially state-owned enterprises for development in Indonesia. Asia Pacific Business Review, 25(3), 317-337. DOI:10.1080/13602381.2019.1575660

Kim, K. (2021). Indonesia’s restrained state capitalism: Development and policy challenges. Journal of Contemporary Asia, 51(3), 419-446. DOI:10.1080/00472336.2019.1675084

Kim, K., & Sumner, A. (2021). Bringing state-owned entities back into the industrial policy debate: The case of Indonesia. Structural Change and Economic Dynamics, 59, 496-509. DOI:10.1016/j.strueco.2021.10.002

Kraft, H. J. S. (2017). Great power dynamics and the waning of ASEAN centrality in regional security. Asian Politics & Policy, 9(4), 597-612. DOI:10.1111/aspp.12350

Krapohl, S. (2017). Two Logics of Regional Integration and the Games Regional Actors Play. In S. Krapohl (Ed.), Regional Integration in the Global South External Influence on Economic Cooperation in ASEAN, MERCOSUR and SADC (pp. 31–32). New York: Palgrave Macmillan. https://doi.org/10.1007/978-3-319-38895-3

Kuswanto, K., Hoen, H. W., & Holzhacker, R. L. (2016). Decentralisation, Foreign Direct Investment and Development in Indonesia K. Kuswanto, Herman W. Hoen and Ronald L. Holzhacker. In R. L. Holzhacker, R. Wittek, & J. Woltjer (Eds.), Decentralization and Governance in Indonesia. New York: Springer. https://doi.org/DOI 10.1007/978-3-319-22434-3

Lee, C. L., Ahmad, R., Lee, W. S., Khalid, N., & Karim, Z. A. (2022). The financial sustainability of state-owned enterprises in an emerging economy. Economies, 10(10). DOI:10.3390/economies10100233

Luttrell, C., Resosudarmo, I. A. P., Muharrom, E., Brockhaus, M., & Seymour, F. (2014). The political context of REDD+ in Indonesia: constituencies for change. Environmental science & policy, 35, 67-75.

Mawdsley, E. (2012). From Recipients to Donors: Emerging Powers and the Changing Development Landscape. London: Zed Books.

Manych, N., & Jakob, M. (2021). Why coal?–The political economy of the electricity sector in the Philippines. Energy for Sustainable Development, 62, 113-125.

Marlier, M. E., DeFries, R. S., Kim, P. S., Koplitz, S. N., Jacob, D. J., Mickley, L. J., & Myers, S. S. (2015). Fire emissions and regional air quality impacts from fires in oil palm, timber, and logging concessions in Indonesia. Environmental Research Letters, 10(8). https://doi.org/10.1088/1748-9326/10/8/085005

Matthews, N., & Motta, S. (2015). Chinese state-owned enterprise investment in mekong hydropower: Political and economic drivers and their implications across the water, energy, food nexus. Water (Switzerland), 7(11), 6269-6284. DOI:10.3390/w7116269

Mayer, J. (2006). Transboundary Perspectives on Managing Indonesia’s Fires. The Journal of Environment & Development, 15(2), 202–223. https://doi.org/10.1177/1070496506288369

Menon, J., & Ng, T. H. (2017). Do state-owned enterprises crowd out private investment? firm level evidence from malaysia. Journal of Southeast Asian Economies, 34(3), 507-522. DOI:10.1355/ae34-3e

Milne, S., Mahanty, S., To, P., Dressler, W., Kanowski, P., & Thavat, M. (2019). Learning From ‘Actually Existing’ REDD+: A Synthesis of Ethnographic Findings. Conservation & Society, 17(1), 84–95.

Ministry of Trade and Industry (MTI). (2022). ASEAN Digital Integration. Singapore: Ministry of Trade and Industry. https://www.mti.gov.sg/ASEAN/ASEAN-Digital-Integration.

Mueller, L. M. (2019). ASEAN centrality under threat–the cases of RCEP and connectivity. Journal of Contemporary East Asia Studies, 8(2), 177-198. DOI:10.1080/24761028.2019.1691703

Oba, M. (2019). Further development of Asian regionalism: Institutional hedging in an uncertain era. Journal of Contemporary East Asia Studies, 8(2), 125-140. DOI:10.1080/24761028.2019.1688905

Overland, I., Sagbakken, H. F., Chan, H.-Y., Merdekawati, M., Suryadi, B., Utama, N. A., & Vakulchuk, R. (2021). The ASEAN climate and energy paradox. Energy and Climate Change, 2, 100019. https://doi.org/10.1016/j.egycc.2020.100019

Panara, C. (2015). The Sub-national Dimension of the EU A Legal Study of Multilevel Governance. New York: Springer. https://doi.org/10.1007/978-3-319-14589-1

Patel, T., Dhiaulhaq, A., Gritten, D., Yasmi, Y., De Bruyn, T., Paudel, N. S., ... & Suzuki, R. (2013). Predicting future conflict under REDD+ implementation. Forests, 4(2), 343-363.

Prado, C. de. (2007). Global multi-level governance: European and East Asian leadership. Tokyo: United Nations University Press.

Prakash, A. (2018). Asia Africa Growth Corridor Development Cooperation and Connectivity in the Indo-Pacific. ERIA Policy Brief 2018-03.

Pye, O. (2019). Commodifying sustainability: Development, nature and politics in the palm oil industry. World Development, 121, 218–228. https://doi.org/10.1016/j.worlddev.2018.02.014

Rabe, W., & Kostka, G. (2022). China’s growing digital reach: Explaining citizens’ high approval rates of finctech investment in Southeast Asia. Review of International Political Economy. https://doi.org/DOI:10.1080/09692290.2022.2044884

Ravenhill, J. (2010). The ‘new east asian regionalism’: A political domino effect. Review of International Political Economy, 17(2), 178-208. DOI:10.1080/09692290903070887

RCEP. (2022). RCEP agreement enters into force. Retrieved from https://rcepsec.org/2022/01/14/rcep-agreement-enters-into-force/

Rosser, A. (2020). The changing aid landscape and the political economy of development in Southeast Asia. In T. Carroll, S. Hameiri, & L. Jones (Eds.), The Political Economy of Southeast Asia: Politics and Uneven Development Under Hyperglobalisation (pp. 293-314). New York: Springer International Publishing.

Shawtari, F. A., Har Sani Mohamad, M., Abdul Rashid, H. M., & Ayedh, A. M. (2017). Board characteristics and real performance in Malaysian state-owned enterprises (SOEs). International Journal of Productivity and Performance Management, 66(8), 1064-1086. DOI:10.1108/IJPPM-12-2015-0188

Shimizu, K. (2021). The ASEAN economic community and the RCEP in the world economy. Journal of Contemporary East Asia Studies, 10(1), 1-23. DOI:10.1080/24761028.2021.1907881

Sikorski, D. (1989). Competitive advantages of state-owned enterprises - comparative case studies of national and private companies in Singapore. Public Enterprise, 9(1), 65-89.

Soong, J.-J. (2016). The political economy of development between China and the ASEAN states: Opportunity and challenge. The Chinese Economy, 49(6), 395-399.

Tan, B. (2005). The norms that weren’t: ASEAN’s shortcomings in dealing with transboundary air pollution. International Environmental Politics, Spring 2005.

Tavares, R. (2016). Paradiplomacy: Cities and States as Global Players. London: Oxford University Press.

Varkkey, H. (2020). The Asean Way and Haze Mitigation Efforts. Journal of International Studies. https://doi.org/10.32890/jis.8.2012.7927

Varkkey, H., Bahcecik, S. O., & Latif, M. T. (2021). ASEAN in regional environmental governance: Bright prospects of a hazy future. In C. Ergenc (Ed.), ASEAN as a method: Re-centering processes and institutions in contemporary Southeast Asian regionalism. New York: Routledge.

Wai, T. C. C. (1995). Industrialization in ASEAN: The Technological Dimension. Singapore: NUS Libraries.

Whah, C. Y. (2020). State intervention, globalisation and the evolution of Malaysian banks' identities. Copenhagen Journal of Asian Studies, 37(1), 74-102. DOI:10.22439/CJAS.V37I1.5907

Williamson, J. (1993). Democracy and the 'Washington consensus'. World Development, 21(8), 1329-1336.

Wu, D.-Y. (2020). City Diplomacy, Multilateral Networks, and the Role of Southeast Asia. Global Strategis, 14(1), 17-30.

Yeung, H. W. (1999). Regulating investment abroad: The political economy of the regionalization of Singaporean firms. Antipode, 31(3), 245-273. DOI:10.1111/1467-8330.00103

Yukawa, T. (2018). The ASEAN way as a symbol: An analysis of discourses on the ASEAN norms. The Pacific Review, 31(3), 298-314.

Zhang, L., Cui, L., Li, S., & Lu, J. (2018). Who rides the tide of regionalization: Examining the effect of the china-ASEAN free trade area on the exports of Chinese firms. International Business Review, 27(3), 501-513. DOI:10.1016/j.ibusrev.2017.10.002

Zhang, M. (2021). Beyond infrastructure: Re-thinking China's foreign direct investment in Malaysia. The Pacific Review, 34(6), 1054-1078. DOI:10.1080/09512748.2020.1791237

Downloads

Published

2023-05-10
Abstract 712  .
PDF downloaded 453  .