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The basic premise for economic integration has been the idea behind the possibility of having a single monetary unit in the future. The paper reviews the nominal GDP per capita with a comparison of four macroeconomic variables namely inflation rate, exchange rate, interest rate and unemployment rate. The theoretical framework is patterned from the Maastricht Criteria and the conceptual framework of Kabir and Salim's into an operational framework of ASEAN convergence criteria index. The research findings for the correlation coefficients were used in identifying intertwining variables for the four macroeconomic factors. Based on the results, Singapore has shown tremendous economic sustainability and a potential for a future anchor currency on the region. 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const worksViewsPath = "/v0/works/views?subdomain_param=api&work_ids%5B%5D=12346910"; const getWorkViews = async (workId) => { const response = await fetch(worksViewsPath); if (!response.ok) { throw new Error('Failed to load work views'); } const data = await response.json(); return data.views[workId]; }; // Get the view count for the work - we send this immediately rather than waiting for // the DOM to load, so it can be available as soon as possible (but without holding up // the backend or other resource requests, because it's a bit expensive and not critical). const viewCount = await getWorkViews(workId); const updateViewCount = (viewCount) => { try { const viewCountNumber = parseInt(viewCount, 10); if (viewCountNumber === 0) { // Remove the whole views element if there are zero views. document.getElementById('work-metadata-view-count')?.parentNode?.remove(); return; } const commaizedViewCount = viewCountNumber.toLocaleString(); const viewCountBody = document.getElementById('work-metadata-view-count'); if (!viewCountBody) { throw new Error('Failed to find work views element'); } viewCountBody.textContent = `${commaizedViewCount} views`; } catch (error) { // Remove the whole views element if there was some issue parsing. document.getElementById('work-metadata-view-count')?.parentNode?.remove(); throw new Error(`Failed to parse view count: ${viewCount}`, error); } }; // If the DOM is still loading, wait for it to be ready before updating the view count. if (document.readyState === "loading") { document.addEventListener('DOMContentLoaded', () => { updateViewCount(viewCount); }); // Otherwise, just update it immediately. } else { updateViewCount(viewCount); } })();</script></div><p class="ds-work-card--work-abstract ds-work-card--detail ds2-5-body-md">The Association of South East Asian Nations (ASEAN) is among several regional blocs that have improved in terms of economic integration. The basic premise for economic integration has been the idea behind the possibility of having a single monetary unit in the future. The paper reviews the nominal GDP per capita with a comparison of four macroeconomic variables namely inflation rate, exchange rate, interest rate and unemployment rate. The theoretical framework is patterned from the Maastricht Criteria and the conceptual framework of Kabir and Salim's into an operational framework of ASEAN convergence criteria index. The research findings for the correlation coefficients were used in identifying intertwining variables for the four macroeconomic factors. Based on the results, Singapore has shown tremendous economic sustainability and a potential for a future anchor currency on the region. However, there are no empirical proofs that sustain a single monetary unit currency in the region but can be a potential monetary policy in the future.</p><div class="ds-work-card--button-container"><button class="ds2-5-button js-swp-download-button" data-signup-modal="{"location":"continue-reading-button--work-card","attachmentId":37610646,"attachmentType":"pdf","workUrl":"https://www.academia.edu/12346910/An_evaluation_study_for_the_ASEAN_in_predicting_factors_that_affect_GDP_using_four_macroeconomic_variables_inflation_exchange_interest_and_unemployment_rates"}">See full PDF</button><button class="ds2-5-button ds2-5-button--secondary js-swp-download-button" data-signup-modal="{"location":"download-pdf-button--work-card","attachmentId":37610646,"attachmentType":"pdf","workUrl":"https://www.academia.edu/12346910/An_evaluation_study_for_the_ASEAN_in_predicting_factors_that_affect_GDP_using_four_macroeconomic_variables_inflation_exchange_interest_and_unemployment_rates"}"><span class="material-symbols-outlined" style="font-size: 20px" translate="no">download</span>Download PDF</button></div><div class="ds-signup-banner-trigger-container"><div class="ds-signup-banner-trigger ds-signup-banner-trigger-control"></div></div><div class="ds-signup-banner ds-signup-banner-control"><div id="ds-signup-banner-close-button"><button class="ds2-5-button ds2-5-button--secondary ds2-5-button--inverse"><span class="material-symbols-outlined" style="font-size: 20px" translate="no">close</span></button></div><div class="ds-signup-banner-ctas"><img src="//a.academia-assets.com/images/academia-logo-capital-white.svg" /><h4 class="ds2-5-heading-serif-sm">Sign up for access to the world's latest research</h4><button class="ds2-5-button ds2-5-button--inverse ds2-5-button--full-width js-swp-download-button" data-signup-modal="{"location":"signup-banner"}">Sign up for free<span class="material-symbols-outlined" style="font-size: 20px" translate="no">arrow_forward</span></button></div><div class="ds-signup-banner-divider"></div><div class="ds-signup-banner-reasons"><div class="ds-signup-banner-reasons-item"><span class="material-symbols-outlined" style="font-size: 24px" translate="no">check</span><span>Get notified about relevant papers</span></div><div class="ds-signup-banner-reasons-item"><span class="material-symbols-outlined" style="font-size: 24px" translate="no">check</span><span>Save papers to use in your research</span></div><div class="ds-signup-banner-reasons-item"><span class="material-symbols-outlined" style="font-size: 24px" translate="no">check</span><span>Join the discussion with peers</span></div><div class="ds-signup-banner-reasons-item"><span class="material-symbols-outlined" style="font-size: 24px" translate="no">check</span><span>Track your impact</span></div></div></div><script>(() => { // Set up signup banner show/hide behavior: // 1. 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However, within the disparity and diversity of the Asian economies, there are some common grounds that have sparked off regional cooperation. The purpose of this thesis is to evaluate the level of economic convergence of the combinations of ASEAN-5 (namely, Indonesia, Malaysia, the Philippines, Singapore and Thailand), Japan, China and Korea economies, a fundamental source of regional co-operation. The empirical findings suggest that GDP, CPI and interest rates of ASEAN-5, Japan, China and Korea are all cointegrated, signifying synchronisation and initial convergence within the region, a positive indication for closer economic cooperation with lesser adverse impact on any individual economy. Subsequently, three possible economic alliances are identified as ASEAN-5, ASEAN-5, Japan, China and Korea, as well as ASEAN-5, Japan and China. The tests on dynamic properties of GDP of ASEAN-5, GDP of ASEAN-5, Japan and China, CPI of ASEAN-5, Japan, iii 2.1</p><div class="ds-related-work--ctas"><button class="ds2-5-text-link ds2-5-text-link--inline js-swp-download-button" data-signup-modal="{"location":"wsj-grid-card-download-pdf-modal","work_title":"Real and Monetary Convergence of ASEAN-5 Plus Three","attachmentId":117691737,"attachmentType":"pdf","work_url":"https://www.academia.edu/123202777/Real_and_Monetary_Convergence_of_ASEAN_5_Plus_Three","alternativeTracking":true}"><span class="material-symbols-outlined" style="font-size: 18px" translate="no">download</span><span class="ds2-5-text-link__content">Download free PDF</span></button><a class="ds2-5-text-link ds2-5-text-link--inline js-wsj-grid-card-view-pdf" href="https://www.academia.edu/123202777/Real_and_Monetary_Convergence_of_ASEAN_5_Plus_Three"><span class="ds2-5-text-link__content">View PDF</span><span class="material-symbols-outlined" style="font-size: 18px" translate="no">chevron_right</span></a></div></div><div class="ds-related-work--container js-wsj-grid-card" data-collection-position="1" data-entity-id="106465394" data-sort-order="default"><a class="ds-related-work--title js-wsj-grid-card-title ds2-5-body-md ds2-5-body-link" href="https://www.academia.edu/106465394/Suitability_and_Prospective_of_Implementing_the_ASEAN_Single_Currency">Suitability and Prospective of Implementing the ASEAN Single Currency</a><div class="ds-related-work--metadata"><a class="js-wsj-grid-card-author ds2-5-body-sm ds2-5-body-link" data-author-id="68961" href="https://stiebi.academia.edu/KadekAyuSusianiDewi">Kadek Ayu Susiani Dewi</a></div><p class="ds-related-work--abstract ds2-5-body-sm">The rapid global development in recent decades in the field of economy, culture, social, information technology, education and free trade area, making cross borders between countries are increasingly blurred and lost (nations borderless). The process of globalization in the economic and trade cause of occurrence of fundamental changes to the map of the world economy, which includes three main dimensions, namely: the ideological dimension (shown by the emergence of capitalism), economics dimensions (shown by the establishment of a free market economy), and technology dimension (see Friedman, 2002). Free market economy already made the realization of the regional or blocks of economic market. The emergence of regional economic integration which is characterized by the formation of specific blocs or economic zone, resulting the need to establish a single currency in these areas, such as EURO currency in European Economic Area. This is aim to create the smoothing of trading process at that area. This research was conducted to observe the feasibility and prospects of implementing the single currency in the ASEAN Region for all ten-member states, by analyzing seven macro economic variables such as: GDP, inflation, government debts, exports, imports, exchange rate differences and government reserves. This research uses a VAR (Vector Auto Regression) model, Williamson Index and Beta Convergence (β-Convergence) and Panel Data Regression and the period data of year 2004 until year 2012. To complete the research method, statistical description and a series of tests were performed into the macro economic variables that have mentioned previously, start with unit root test (integration, co-integration and engel-granger test) up to classical assumptions test (normality, autocorrelation, multicollinearity and heteroscedasticity test). The results proved that the VAR model already shown that the independent variables was able to demonstrate the diversity shown by the high value of R-Square, while the Forecasting Error of the Variance Decomposition (FEVD) respectively able to explain the relationship between variables according to macroeconomic theory. Furthermore, Williamson index test described the economic disparity occurred between states member, as well as the Beta Convergent Test able to explain the feasibility of implementing the single currency in the ASEAN region. The Panel Data Regression Test for the seven variables has been tested partially. All variables such as inflation, government debt, exports, imports, exchange rate differences and government reserves, except for GDP had no significant effect at the level of 1%, 5% and 10%, for the establishment of a single currency. However, overall, the dependent variable 98.22% was influenced by all independent variables, which was recognized by Adjusted-R-Square value and the rest were affected by others variables which not included in the study. Agarwal, et al., (2004), discovered that the possibility of the integration of the ASEAN single currency (ASEAN Dollar) is sufficient if the Government Deficit to GDP is not greater than 3%, the ratio of government debt to GDP should be less than or equal to 60%, exchange rate relatively stable with the normal fluctuations of 15% for two years and have never experienced a devaluation, and the inflation rate does not exceed 1.5% compared to the average inflation of the three best-performing member states. And the vice versa if it does not meet the criterion, the application of the single currency is not feasible.</p><div class="ds-related-work--ctas"><button class="ds2-5-text-link ds2-5-text-link--inline js-swp-download-button" data-signup-modal="{"location":"wsj-grid-card-download-pdf-modal","work_title":"Suitability and Prospective of Implementing the ASEAN Single Currency","attachmentId":105655758,"attachmentType":"pdf","work_url":"https://www.academia.edu/106465394/Suitability_and_Prospective_of_Implementing_the_ASEAN_Single_Currency","alternativeTracking":true}"><span class="material-symbols-outlined" style="font-size: 18px" translate="no">download</span><span class="ds2-5-text-link__content">Download free PDF</span></button><a class="ds2-5-text-link ds2-5-text-link--inline js-wsj-grid-card-view-pdf" href="https://www.academia.edu/106465394/Suitability_and_Prospective_of_Implementing_the_ASEAN_Single_Currency"><span class="ds2-5-text-link__content">View PDF</span><span class="material-symbols-outlined" style="font-size: 18px" translate="no">chevron_right</span></a></div></div><div class="ds-related-work--container js-wsj-grid-card" data-collection-position="2" data-entity-id="87539177" data-sort-order="default"><a class="ds-related-work--title js-wsj-grid-card-title ds2-5-body-md ds2-5-body-link" href="https://www.academia.edu/87539177/Essay_of_ASEANs_Macroeconomy">Essay of ASEAN's Macroeconomy</a><div class="ds-related-work--metadata"><a class="js-wsj-grid-card-author ds2-5-body-sm ds2-5-body-link" data-author-id="94900845" href="https://independent.academia.edu/abdulholik32">abdul holik</a></div><p class="ds-related-work--metadata ds2-5-body-xs">2018</p><p class="ds-related-work--abstract ds2-5-body-sm">The purpose of this research is to find impact of export values, exchange rate, employment participation, unemployment, and inflation towards economic growth (GDP) of four ASEAN member countries: Indonesia, Philippines, Malaysia, and Thailand. The Panel method with two-way fixed effect was chosen as a tool to analyze the data. It is conducted from 1995 until 2014. The result shows that the first three variables has positive significantly impact towards GDP. Besides, inflation rate has significant negative impact. Meanwhile unemployment number unfortunately does not have significant effect at all.</p><div class="ds-related-work--ctas"><button class="ds2-5-text-link ds2-5-text-link--inline js-swp-download-button" data-signup-modal="{"location":"wsj-grid-card-download-pdf-modal","work_title":"Essay of ASEAN's Macroeconomy","attachmentId":91719399,"attachmentType":"pdf","work_url":"https://www.academia.edu/87539177/Essay_of_ASEANs_Macroeconomy","alternativeTracking":true}"><span class="material-symbols-outlined" style="font-size: 18px" translate="no">download</span><span class="ds2-5-text-link__content">Download free PDF</span></button><a class="ds2-5-text-link ds2-5-text-link--inline js-wsj-grid-card-view-pdf" href="https://www.academia.edu/87539177/Essay_of_ASEANs_Macroeconomy"><span class="ds2-5-text-link__content">View PDF</span><span class="material-symbols-outlined" style="font-size: 18px" translate="no">chevron_right</span></a></div></div><div class="ds-related-work--container js-wsj-grid-card" data-collection-position="3" data-entity-id="68208085" data-sort-order="default"><a class="ds-related-work--title js-wsj-grid-card-title ds2-5-body-md ds2-5-body-link" href="https://www.academia.edu/68208085/ASEAN_Dollar_A_Common_Currency_Establishment_for_Stronger_Economics_Growth_of_ASEAN_Region">ASEAN Dollar: A Common Currency Establishment for Stronger Economics Growth of ASEAN Region</a><div class="ds-related-work--metadata"><a class="js-wsj-grid-card-author ds2-5-body-sm ds2-5-body-link" data-author-id="135222670" href="https://iif.academia.edu/AmanAgarwal">Aman Agarwal</a></div><p class="ds-related-work--metadata ds2-5-body-xs">2004</p><p class="ds-related-work--abstract ds2-5-body-sm">The current optimal strategy for ASEAN countries is to assess whether the necessary environments exist for the establishment of a well-integrated common financial market for the ASEAN area, and consequently support for a single currency. The currency is for discussion purposes termed the ASEAN Dollar. In this paper we focus on a practical application, involving two components: 1) The six convergence criteria that we propose each ASEAN country should meet in order to become eligible for the ASEAN Dollar; and 2) Establishment of the ASEAN Economic and Currency Community (AECC). Further, measurement of the evolution of financial market integration in the ASEAN countries will be investigated. Patterned vector time-series modelling will be utilised to set up and monitor economic and financial integration indicators. Those economic and financial integration indicators will be applied to measure the following three broad financial categories in the ASEAN countries: a) credit and bond market integration and cointegration to establish the nature of short and long-term co-movement; b) Stock market integration and cointegration to establish the nature of short and long-term comovement; and c) Exchange rate market integration and cointegration to establish the nature of short and long-term co-movement. Subsequent evaluation of key indicators of economic and financial integration will also be undertaken.</p><div class="ds-related-work--ctas"><button class="ds2-5-text-link ds2-5-text-link--inline js-swp-download-button" data-signup-modal="{"location":"wsj-grid-card-download-pdf-modal","work_title":"ASEAN Dollar: A Common Currency Establishment for Stronger Economics Growth of ASEAN Region","attachmentId":78767321,"attachmentType":"pdf","work_url":"https://www.academia.edu/68208085/ASEAN_Dollar_A_Common_Currency_Establishment_for_Stronger_Economics_Growth_of_ASEAN_Region","alternativeTracking":true}"><span class="material-symbols-outlined" style="font-size: 18px" translate="no">download</span><span class="ds2-5-text-link__content">Download free PDF</span></button><a class="ds2-5-text-link ds2-5-text-link--inline js-wsj-grid-card-view-pdf" href="https://www.academia.edu/68208085/ASEAN_Dollar_A_Common_Currency_Establishment_for_Stronger_Economics_Growth_of_ASEAN_Region"><span class="ds2-5-text-link__content">View PDF</span><span class="material-symbols-outlined" style="font-size: 18px" translate="no">chevron_right</span></a></div></div><div class="ds-related-work--container js-wsj-grid-card" data-collection-position="4" data-entity-id="17892396" data-sort-order="default"><a class="ds-related-work--title js-wsj-grid-card-title ds2-5-body-md ds2-5-body-link" href="https://www.academia.edu/17892396/ASEAN_DOLLAR_A_Common_Currency_Establishment_for_Stronger_Economic_Growth_of_ASEAN_Region">ASEAN DOLLAR: A Common Currency Establishment for Stronger Economic Growth of ASEAN Region</a><div class="ds-related-work--metadata"><a class="js-wsj-grid-card-author ds2-5-body-sm ds2-5-body-link" data-author-id="37752586" href="https://hkbu.academia.edu/WingkeungWong">Wing-keung Wong</a></div><p class="ds-related-work--metadata ds2-5-body-xs">Finance India, 2004</p><p class="ds-related-work--abstract ds2-5-body-sm">The current optimal strategy for ASEAN countries is to assess whether the necessary environments exist for the establishment of a well-integrated common financial market for the ASEAN area, and consequently support for a single currency. The currency is for discussion purposes termed the ASEAN Dollar. In this paper we focus on a practical application, involving two components: 1) The six convergence criteria that we propose each ASEAN country should meet in order to become eligible for the ASEAN Dollar;</p><div class="ds-related-work--ctas"><button class="ds2-5-text-link ds2-5-text-link--inline js-swp-download-button" data-signup-modal="{"location":"wsj-grid-card-download-pdf-modal","work_title":"ASEAN DOLLAR: A Common Currency Establishment for Stronger Economic Growth of ASEAN Region","attachmentId":41996100,"attachmentType":"pdf","work_url":"https://www.academia.edu/17892396/ASEAN_DOLLAR_A_Common_Currency_Establishment_for_Stronger_Economic_Growth_of_ASEAN_Region","alternativeTracking":true}"><span class="material-symbols-outlined" style="font-size: 18px" translate="no">download</span><span class="ds2-5-text-link__content">Download free PDF</span></button><a class="ds2-5-text-link ds2-5-text-link--inline js-wsj-grid-card-view-pdf" href="https://www.academia.edu/17892396/ASEAN_DOLLAR_A_Common_Currency_Establishment_for_Stronger_Economic_Growth_of_ASEAN_Region"><span class="ds2-5-text-link__content">View PDF</span><span class="material-symbols-outlined" style="font-size: 18px" translate="no">chevron_right</span></a></div></div><div class="ds-related-work--container js-wsj-grid-card" data-collection-position="5" data-entity-id="102617003" data-sort-order="default"><a class="ds-related-work--title js-wsj-grid-card-title ds2-5-body-md ds2-5-body-link" href="https://www.academia.edu/102617003/Analysis_of_Economic_Growth_in_ASEAN_Countries">Analysis of Economic Growth in ASEAN Countries</a><div class="ds-related-work--metadata"><a class="js-wsj-grid-card-author ds2-5-body-sm ds2-5-body-link" data-author-id="271881956" href="https://independent.academia.edu/wahyuRiyanto36">wahyu Riyanto</a></div><p class="ds-related-work--metadata ds2-5-body-xs">Jurnal Ekonomi Pembangunan, 2020</p><p class="ds-related-work--abstract ds2-5-body-sm">This studied aims to explained the effect of the variables of inflation, consumption expenditure, capital formation, foreign direct investment, and trade openness on gross domestic product ASEAN countries from 1996 – 2018. This research used a panel regression analyzed method to test the data in getting decisions. The t-statistic test results showed that consumption expenditure, capital formation, foreign direct investment, and trade openness significantly influence the direction of a positive relationship to gross domestic product. However, inflation showed a negative direction and had a significant effect on the gross domestic product so that if there is increased inflation it will reduce gross domestic product. The government can formula a single-digit policy so that there is no decline in the gross domestic product of ASEAN countries.</p><div class="ds-related-work--ctas"><button class="ds2-5-text-link ds2-5-text-link--inline js-swp-download-button" data-signup-modal="{"location":"wsj-grid-card-download-pdf-modal","work_title":"Analysis of Economic Growth in ASEAN Countries","attachmentId":102840035,"attachmentType":"pdf","work_url":"https://www.academia.edu/102617003/Analysis_of_Economic_Growth_in_ASEAN_Countries","alternativeTracking":true}"><span class="material-symbols-outlined" style="font-size: 18px" translate="no">download</span><span class="ds2-5-text-link__content">Download free PDF</span></button><a class="ds2-5-text-link ds2-5-text-link--inline js-wsj-grid-card-view-pdf" href="https://www.academia.edu/102617003/Analysis_of_Economic_Growth_in_ASEAN_Countries"><span class="ds2-5-text-link__content">View PDF</span><span class="material-symbols-outlined" style="font-size: 18px" translate="no">chevron_right</span></a></div></div><div class="ds-related-work--container js-wsj-grid-card" data-collection-position="6" data-entity-id="19022412" data-sort-order="default"><a class="ds-related-work--title js-wsj-grid-card-title ds2-5-body-md ds2-5-body-link" href="https://www.academia.edu/19022412/The_ASEAN_5_Future_Currency_Maastricht_Criteria">The ASEAN-5 Future Currency: Maastricht Criteria</a><div class="ds-related-work--metadata"><a class="js-wsj-grid-card-author ds2-5-body-sm ds2-5-body-link" data-author-id="39102139" href="https://upm.academia.edu/AzaliMohamed">M Azali</a><span>, </span><a class="js-wsj-grid-card-author ds2-5-body-sm ds2-5-body-link" data-author-id="46320366" href="https://independent.academia.edu/KellySeng">Kelly Seng</a><span>, </span><a class="js-wsj-grid-card-author ds2-5-body-sm ds2-5-body-link" data-author-id="39220369" href="https://upm.academia.edu/AMohamed">Azali Mohamed</a><span>, </span><a class="js-wsj-grid-card-author ds2-5-body-sm ds2-5-body-link" data-author-id="39090408" href="https://upm.academia.edu/LeeChin">Lee Chin</a></div><p class="ds-related-work--metadata ds2-5-body-xs">2010</p><p class="ds-related-work--abstract ds2-5-body-sm">This study aims to investigate whether the ASEAN-5 are beneficiary of the formation of Single Currency Area as according to the Maastricht Criteria Hypothesis, using Bound Testing Approach proposed by Pesaran et al. (2001). Result shows that there is a long-run cointegration among the determinant variables for all ASEAN-5 countries. Overall findings show that the Maastricht Criteria Hypothesis is statistically significant to determine the process of ASEAN-5 economic convergence. Hence, we suggest that the ASEAN-5 have a tendency and beneficiary to form a single currency area if the Maastricht criteria are valid for this region.</p><div class="ds-related-work--ctas"><button class="ds2-5-text-link ds2-5-text-link--inline js-swp-download-button" data-signup-modal="{"location":"wsj-grid-card-download-pdf-modal","work_title":"The ASEAN-5 Future Currency: Maastricht Criteria","attachmentId":40386937,"attachmentType":"pdf","work_url":"https://www.academia.edu/19022412/The_ASEAN_5_Future_Currency_Maastricht_Criteria","alternativeTracking":true}"><span class="material-symbols-outlined" style="font-size: 18px" translate="no">download</span><span class="ds2-5-text-link__content">Download free PDF</span></button><a class="ds2-5-text-link ds2-5-text-link--inline js-wsj-grid-card-view-pdf" href="https://www.academia.edu/19022412/The_ASEAN_5_Future_Currency_Maastricht_Criteria"><span class="ds2-5-text-link__content">View PDF</span><span class="material-symbols-outlined" style="font-size: 18px" translate="no">chevron_right</span></a></div></div><div class="ds-related-work--container js-wsj-grid-card" data-collection-position="7" data-entity-id="4099279" data-sort-order="default"><a class="ds-related-work--title js-wsj-grid-card-title ds2-5-body-md ds2-5-body-link" href="https://www.academia.edu/4099279/ASEAN_DOLLAR_A_Common_Currency_Establishment_for_Stronger_Economic_Growth_of_ASEAN_Region1">ASEAN DOLLAR : A Common Currency Establishment for Stronger Economic Growth of ASEAN Region1</a><div class="ds-related-work--metadata"><a class="js-wsj-grid-card-author ds2-5-body-sm ds2-5-body-link" data-author-id="4945757" href="https://anglia.academia.edu/LynnMMartin">Lynn M M Martin</a><span>, </span><a class="js-wsj-grid-card-author ds2-5-body-sm ds2-5-body-link" data-author-id="37752586" href="https://hkbu.academia.edu/WingkeungWong">Wing-keung Wong</a></div><p class="ds-related-work--abstract ds2-5-body-sm">The current optimal strategy for ASEAN countries is to assess whether the necessary environments exist for the establishment of a well-integrated common financial market for the ASEAN area, and consequently support for a single currency. The currency is for discussion purposes termed the ASEAN Dollar. In this paper we focus on a practical application, involving two components: 1) The six convergence criteria that we propose each ASEAN country should meet in order to become eligible for the ASEAN Dollar;</p><div class="ds-related-work--ctas"><button class="ds2-5-text-link ds2-5-text-link--inline js-swp-download-button" data-signup-modal="{"location":"wsj-grid-card-download-pdf-modal","work_title":"ASEAN DOLLAR : A Common Currency Establishment for Stronger Economic Growth of ASEAN Region1","attachmentId":50032087,"attachmentType":"pdf","work_url":"https://www.academia.edu/4099279/ASEAN_DOLLAR_A_Common_Currency_Establishment_for_Stronger_Economic_Growth_of_ASEAN_Region1","alternativeTracking":true}"><span class="material-symbols-outlined" style="font-size: 18px" translate="no">download</span><span class="ds2-5-text-link__content">Download free PDF</span></button><a class="ds2-5-text-link ds2-5-text-link--inline js-wsj-grid-card-view-pdf" href="https://www.academia.edu/4099279/ASEAN_DOLLAR_A_Common_Currency_Establishment_for_Stronger_Economic_Growth_of_ASEAN_Region1"><span class="ds2-5-text-link__content">View PDF</span><span class="material-symbols-outlined" style="font-size: 18px" translate="no">chevron_right</span></a></div></div><div class="ds-related-work--container js-wsj-grid-card" data-collection-position="8" data-entity-id="44946483" data-sort-order="default"><a class="ds-related-work--title js-wsj-grid-card-title ds2-5-body-md ds2-5-body-link" href="https://www.academia.edu/44946483/Monetary_Policy_in_the_Founder_Countries_of_ASEAN">Monetary Policy in the Founder Countries of ASEAN</a><div class="ds-related-work--metadata"><a class="js-wsj-grid-card-author ds2-5-body-sm ds2-5-body-link" data-author-id="42923820" href="https://independent.academia.edu/MagyarK%C3%BCl%C3%BCgyiInt%C3%A9zetHungarianInstituteofInternationalAffairs">Magyar Külügyi Intézet /Hungarian Institute of International Affairs</a></div><p class="ds-related-work--metadata ds2-5-body-xs">Foreign Policy Review, 2020</p><p class="ds-related-work--abstract ds2-5-body-sm">In this paper, we examined the monetary policy systems of the ASEAN-5 countries (Indonesia, Malaysia, Philippines, Singapore, and Thailand) in order to assess the countries' readiness for a higher level of integration, a monetary union. We found that these countries successfully adopted many of the best practices of the developed countries, especially transparency which is important in anchoring market expectations. Furthermore, we did not find any significant differences in the five countries regarding inflation volatility and level, which could have been explained by the different monetary policy regimes employed. On the monetary union prospects, we found that inflation rates and exchange rates in the five countries showed strong connections, which is necessary to avoid the need for nominal exchange rate adjustments. On the other hand, the economies are far from the required harmonization, which resulted in different monetary policy reactions to the same shocks. In addition, the independence of the monetary policy has not been achieved in most ASEAN-5 countries, which can become a huge obstacle in the establishment of a supranational authority conducting common monetary policy in a monetary union.</p><div class="ds-related-work--ctas"><button class="ds2-5-text-link ds2-5-text-link--inline js-swp-download-button" data-signup-modal="{"location":"wsj-grid-card-download-pdf-modal","work_title":"Monetary Policy in the Founder Countries of ASEAN","attachmentId":65506528,"attachmentType":"pdf","work_url":"https://www.academia.edu/44946483/Monetary_Policy_in_the_Founder_Countries_of_ASEAN","alternativeTracking":true}"><span class="material-symbols-outlined" style="font-size: 18px" translate="no">download</span><span class="ds2-5-text-link__content">Download free PDF</span></button><a class="ds2-5-text-link ds2-5-text-link--inline js-wsj-grid-card-view-pdf" href="https://www.academia.edu/44946483/Monetary_Policy_in_the_Founder_Countries_of_ASEAN"><span class="ds2-5-text-link__content">View PDF</span><span class="material-symbols-outlined" style="font-size: 18px" translate="no">chevron_right</span></a></div></div><div class="ds-related-work--container js-wsj-grid-card" data-collection-position="9" data-entity-id="107830425" data-sort-order="default"><a class="ds-related-work--title js-wsj-grid-card-title ds2-5-body-md ds2-5-body-link" href="https://www.academia.edu/107830425/Economic_Growth_Can_be_Influenced_by_Exports_Inflation_and_Government_Expenditure_on_ASEAN_7_Countries_during_the_AFTA_Period">Economic Growth: Can be Influenced by Exports, Inflation, and Government Expenditure on ASEAN-7 Countries during the AFTA Period?</a><div class="ds-related-work--metadata"><a class="js-wsj-grid-card-author ds2-5-body-sm ds2-5-body-link" data-author-id="61428545" href="https://independent.academia.edu/FRANSSIMATUPANG2">FRANS SIMATUPANG</a></div><p class="ds-related-work--metadata ds2-5-body-xs">Journal of Economics Research and Social Sciences</p><p class="ds-related-work--abstract ds2-5-body-sm">The increase in the economy can be seen from the increase in export activities and government spending that have an impact on the increase in foreign exchange. The existence of inflation has an impact on the weakening of people&#39;s economic activities so that it has an impact on the weakening of the country&#39;s economy. However, inflation has a positive impact on a country&#39;s exports. The study analyzed the effect of exports, inflation and government expenditure on economic growth in ASEAN-7 countries from 2015 to 2019. Using Panel Data analysis method with RE model (Random Effect Model) as the best model used. The results of this study indicate a positive and significant relationship between exports and government expenditure on economic growth in ASEAN-7 countries, while inflation has a significant negative influence on economic growth in ASEAN-7 countries.</p><div class="ds-related-work--ctas"><button class="ds2-5-text-link ds2-5-text-link--inline js-swp-download-button" data-signup-modal="{"location":"wsj-grid-card-download-pdf-modal","work_title":"Economic Growth: Can be Influenced by Exports, Inflation, and Government Expenditure on ASEAN-7 Countries during the AFTA Period?","attachmentId":106384928,"attachmentType":"pdf","work_url":"https://www.academia.edu/107830425/Economic_Growth_Can_be_Influenced_by_Exports_Inflation_and_Government_Expenditure_on_ASEAN_7_Countries_during_the_AFTA_Period","alternativeTracking":true}"><span class="material-symbols-outlined" style="font-size: 18px" translate="no">download</span><span class="ds2-5-text-link__content">Download free PDF</span></button><a class="ds2-5-text-link ds2-5-text-link--inline js-wsj-grid-card-view-pdf" href="https://www.academia.edu/107830425/Economic_Growth_Can_be_Influenced_by_Exports_Inflation_and_Government_Expenditure_on_ASEAN_7_Countries_during_the_AFTA_Period"><span class="ds2-5-text-link__content">View PDF</span><span class="material-symbols-outlined" style="font-size: 18px" translate="no">chevron_right</span></a></div></div></div></div><div class="ds-sticky-ctas--wrapper js-loswp-sticky-ctas hidden"><div class="ds-sticky-ctas--grid-container"><div class="ds-sticky-ctas--container"><button class="ds2-5-button js-swp-download-button" data-signup-modal="{"location":"continue-reading-button--sticky-ctas","attachmentId":37610646,"attachmentType":"pdf","workUrl":null}">See full PDF</button><button class="ds2-5-button ds2-5-button--secondary js-swp-download-button" data-signup-modal="{"location":"download-pdf-button--sticky-ctas","attachmentId":37610646,"attachmentType":"pdf","workUrl":null}"><span class="material-symbols-outlined" style="font-size: 20px" translate="no">download</span>Download PDF</button></div></div></div><div class="ds-below-fold--grid-container"><div class="ds-work--container js-loswp-embedded-document"><div class="attachment_preview" data-attachment="Attachment_37610646" style="display: none"><div class="js-scribd-document-container"><div class="scribd--document-loading js-scribd-document-loader" style="display: block;"><img alt="Loading..." src="//a.academia-assets.com/images/loaders/paper-load.gif" /><p>Loading Preview</p></div></div><div style="text-align: center;"><div class="scribd--no-preview-alert js-preview-unavailable"><p>Sorry, preview is currently unavailable. 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