Economic Research Institute for ASEAN and East Asia
Finance and Macroeconomy
ERIA looks into issues related to macroeconomic policies including fiscal policies, monetary policies, international economic integrations, free trade agreements, trade barriers, trade facilitation, and international investment protection. Additionally, ERIA also investigate impacts of globalisation, economic shocks, financial crises, and foreign output shocks, among many others. Furthermore, ERIA also conducts various research on social security system, country risk, regional cooperation, market integrations, exports and imports, and many more.
Regional Integration in Indo-Pacific: Connectivity, Cooperation, and New Supply-Chain Linkages
31 March 2023
The evolving economic architecture in the Indo-Pacific rests squarely on the post-war construct of the Asia-Pacific, which is undergoing changes in the established patterns of … Read More
Impact of the Regional Comprehensive Economic Partnership (RCEP): A Global Computable General Equilibrium (CGE) Simulation
21 October 2022
This study estimates the potential economic effects of the Regional Comprehensive Economic Partnership (RCEP) by using a recursively dynamic computable general equilibrium (CGE) model, which … Read More
Regional Comprehensive Economic Partnership, ASEAN’s Agency, and the Role of ASEAN Members in Shaping the Regional Economic Order
29 September 2022
The Regional Comprehensive Economic Partnership (RCEP) – a mega free trade agreement comprising 15 countries – the 10 Association of Southeast Asian Nations (ASEAN) Member … Read More
The Comprehensive Asia Development Plan (CADP) 3.0: Towards an Integrated, Innovative, Inclusive, and Sustainable Economy
16 September 2022
The coronavirus disease (COVID-19) pandemic has caused trade disruptions; a drop in foreign direct investment; and scarring effects on poverty, education, and women in many … Read More
New Normal, New Technologies, New Financing
22 June 2022
While the coronavirus disease (COVID-19) seems to be behind us now, the scarring effects on employment, poverty, and education will last forever. Women, youth, and … Read More
Prediction Errors of Macroeconomic Indicators and Economic Shocks for ASEAN Member States, 1990‒2021
30 May 2022
In this study, economic shocks on six selected Association of Southeast Asian Nations (ASEAN) Member States (i.e. Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Viet … Read More
Understanding SME Trade Finance in ASEAN: An Overview
22 February 2022
SMEs are the most important source of employment in all ASEAN countries, but a lack of access to external sources of finance may limit their … Read More
Firms’ Financial Distress during the COVID-19 Pandemic and Fiscal Incentives
13 December 2021
The COVID-19 pandemic as an exogenous shock has affected the business sector by disrupting production and shrinking demand due to strict physical distancing. This study … Read More
13th Asia-Europe Meeting (ASEM) Summit
11 November 2021
The Asia-Europe Meeting (ASEM) is a unique cooperation initiative, bringing in scope for transnational cooperation between Partner countries, through regional and sub-regional activities. ASEM is … Read More
Policy Strategies to Strengthen the Travel and Tourism Sectors from the COVID-19 Pandemic Shocks: A Computable General Equilibrium Model for the Indonesian Economy
13 September 2021
The travel and tourism sectors have become the most vulnerable sectors to the COVID-19 pandemic. Studies have shown that most tourist-destination countries will experience economic … Read More
The Global Economic Impact of the COVID-19 Pandemic: The Second Wave and Policy Implications
09 September 2021
This paper examines the macroeconomic impact of the COVID-19 pandemic through the Computable General Equilibrium model. Due to a second wave and a subsequent delay … Read More
Central Banks' Responses to COVID-19 in ASEAN Economies
18 August 2021
The effect of the COVID-19 pandemic on public health, social life, economic conditions, and financial markets has been significant for Association of Southeast Asian Nations … Read More
Reconciling Tax and Trade Rules in the Digitalised Economy: Challenges for ASEAN and East Asia
06 August 2021
As the digital economy expands in scale, scope, and form it poses major challenges for public revenue and tax policy and administration in Asia and … Read More
Tracking the Ups and Downs in Indonesia’s Economic Activity During COVID-19 Using Mobility Index: Evidence from Provinces in Java and Bali
05 July 2021
A timely and reliable prediction of economic activities is crucial in policymaking, especially in the current COVID-19 pandemic situation, which requires real-time decisions. However, making … Read More
Summary of ERIA Research Projects 2020-2021
01 July 2021
The Summary of ERIA Research Projects 2020-2021 provides an overview of both new and ongoing projects that ERIA researchers are currently working on as of … Read More
How ASEAN Can Improve Its Response to the Economic Crisis Generated by the COVID-19 Pandemic: Inputs drawn from a comparative analysis of the ASEAN and EU responses
31 May 2021
This paper conducts a comparative review of the evolution of the economic crisis generated by the coronavirus disease (COVID-19) pandemic and the responses enacted by … Read More
Financial Market Responses to Government COVID-19 Pandemic Interventions: Empirical Evidence from South-East and East Asia
29 April 2021
This study investigates the impact of various government interventions on the spread of COVID-19 as well as stock markets in South-East and East Asia. It … Read More
Could the COVID-19 Crisis Affect Remittances and Labour Supply in ASEAN Economies? Macroeconomic Conjectures Based on the SARS Epidemic
28 April 2021
Debates on resilience to economic shocks in the ASEAN region focus on what policymakers can do to mitigate negative impacts associated with financial-economic crises. The … Read More
Financial Inclusion in Asia and Beyond Measurement, Development Gaps, and Economic Consequences
11 March 2021
The World Bank considers financial inclusion to be an enabler for at least 7 of the 17 United Nation’s sustainable development goals (SDGs). Financial inclusion, … Read More
Child Education: Rethinking Microcredit in Cambodia
16 December 2020
Conflicting and controversial conclusions about the potential effects of microcredit on socio-economic development raise concerns over the effects on child education. This study analyses the … Read More
Financial Inclusion, Active Bank Accounts and Poverty Reduction in India
30 September 2020
Using the World Bank’s Global Findex data, this research first shows that the efforts by the Indian Government and the Reserve Bank have been successful … Read More
Financial Inclusion and Savings in Indonesia
29 September 2020
This paper discusses the status of financial inclusion in Indonesia and examines the impact of financial inclusion – based on availability of bank branches on … Read More
The Effects of Financial Inclusion on Development Outcomes: New Insights from ASEAN and East Asian Countries
24 September 2020
This study empirically examines the effects of financial inclusion on economic development, – economic growth, education, health, and income inequality – in 20 Asian countries … Read More
The Composition of Financial Inclusion in ASEAN and East Asia: A New Hybrid Index and Some Stylised Facts
24 September 2020
The paper provides an overview of the existing measures of financial inclusion and critically evaluates the two widely used existing methodologies to measure the dimensions … Read More
The Nature and Landscape of Financial Inclusion in Asia
24 September 2020
This paper presents an examination of the key impacts of financial inclusion on economic prosperity and wellbeing, and on other development indicators such as those … Read More
The Value-Added Tax Reform and Labour Market Outcomes: Firm Level Evidence from China
07 August 2020
The tax incentives designed to stimulate firm investment may have a large impact on labour market outcomes. Using a comprehensive data set containing more than … Read More
Maintaining Fiscal Sustainability during the Pandemic Crisis
24 June 2020
Key Messages Plummeting demand for goods and services, caused by the sudden disruption in major economic activities, has set the stage for a worldwide economic … Read More
Supply Chain Resilience: Reducing Vulnerability to Economic Shocks, Financial Crises, and Natural Disasters
26 May 2020
This book investigates individual companies’ and industries’ supply chain risk management approaches to identify risk drivers and verify effective risk-reduction measures and business continuity plans. … Read More
COVID-19 and Southeast and East Asian Economic Integration: Understanding the Consequences for the Future
23 April 2020
Key Messages The coronavirus disease (COVID-19) pandemic poses great challenges for the economic integration of East and Southeast Asia. Much of the future of … Read More
Policies and Financing Strategies for Low-Carbon Energy Transition: Overcoming Barriers to Private Financial Institutions
14 February 2020
Placing Asian economies on a low-carbon path requires an unprecedented shift in private investment and new financing models. A growing community of investors is seeking … Read More
Unlocking the Potential of Private Financing for Low-carbon Energy Transition: Ideas and Solutions from ASEAN Markets
29 January 2020
Under the Paris Agreement in 2015, the opportunities for the ASEAN Member States (AMS) to maximise low-carbon energy sources to achieve the Nationally Determined Contributions … Read More
The Economic Consequences of Globalisation in the United States
21 January 2020
The unprecedented rise in global interdependence since World War II, especially since the 1970s, has been very productive. World gross domestic product (GDP) growth increased … Read More
Navigating Low-Carbon Finance Management at Banks and Non-Banking Financial Institutions
27 August 2019
Lack of long-term financing, the existence of various risks, the low rate of return, and lack of capacity in market actors are major challenges for … Read More
The Impact of Global Value Chain Integration on Wages: Evidence from Matched Worker-Industry Data in Thailand
27 August 2019
Using a two-stage estimation of matched worker-industry data from 2000 to 2011, this study investigates the impact of global value chain (GVC) integration on wages … Read More
Developing the Digital Economy in ASEAN
30 April 2019
This book advances the international debate on the development of e-commerce with a focus on emerging ASEAN economies. It provides readers insights on Asia’s needs … Read More
Export Dynamics and the Invoicing Currency
20 March 2019
In this paper, using finely disaggregated firm-level export data for Thailand, we examine how firms’ export experience is related to the dynamic choice of the … Read More
East Asia Updates | Quarterly Edition - December 2018
04 January 2019
2018 was a challenging year for policymakers in the East Asia region. Nonetheless, countries in the region were generally able to navigate through the … Read More
East Asia Updates | Quarterly Edition - March 2018
25 April 2018
The full year realisation of 2017 global gross domestic product (GDP) growth matches the expectation at the end of 2017. Furthermore, the global economy appears … Read More
ASEAN as an FDI Attractor:
How Do Multinationals Look at ASEAN?
31 January 2017
This policy brief presents an overview of the ASEAN economy in terms of its economic relationship with multinationals, particularly Japanese companies, that have … Read More
Financial Reforms in Myanmar and Japan's Engagement
07 November 2016
Since 2011, under the Thein Sein government, Myanmar has started to build financial institutions almost from scratch. Japan has played a leading role in this … Read More
Economic Impact of Removing Energy Subsidies in Malaysia
27 October 2016
The share of demand for fossil-fuel based energy (i.e. coal and oil) in Malaysia will remain the largest in 2035. This significant demand … Read More
Globalization and Performance of Small and Large Firms
23 May 2016
ERIA Microdata Research FY 2013 examines whether and how globalization has differential effects on small and (or versus) large firms and aims at … Read More
Non-Tariff Measures in ASEAN
30 April 2016
While tariffs have been reduced, the number of non-tariff measures (NTMs) continues to increase, and is often blamed as one source of the … Read More
Measuring Tax Administration Effectiveness and its Impact on Tax Revenue
26 April 2016
This paper proposes a method for constructing a tax administration measure of effectiveness or TAME, and describes its desirable properties. TAME was empirically constructed using … Read More
Demographic Change and Fiscal Sustainability in Asia
03 March 2016
Abstract Changes in the population age structure can have a significant effect on fiscal sustainability since they can affect both government revenue and expenditure. For … Read More
Increasing the Resilience of Asian Supply Chains to Natural Disasters: The Role of the Financial Sector
24 February 2016
Abstract The financial sector is a part of the vital infrastructure of the economy. It can play an important role in mitigating the economic dislocation … Read More
Macroeconomic Impact of Coal-Fired Power Plants
16 February 2016
Energy is critical for almost all modern economic activities and for broader human development. Yet, access to energy in middle-income countries such as … Read More
Power Grid Interconnections in East Asia: Investment in Several Key Projects Are Well Justified
28 January 2016
Abstract The recent ERIA report on 'Effective Power Infrastructure Investment through Power Grid Interconnections in East Asia' aims to support existing initiatives--the ASEAN Power Grid … Read More
Rebalancing Economies in Financially Integrating East Asia
30 November 2015
Since the Asian Financial Crisis (AFC) of 1997–98 large current account surpluses have accumulated in the countries of Asia and the Pacific with corresponding deficits … Read More
Monitoring the Implementation of Services Trade Reform towards an ASEAN Economic Community
21 May 2015
Abstract This paper assesses the extent to which the Association of Southeast Asian Nations (ASEAN) Framework Agreement on Services (AFAS) is helping ASEAN member states … Read More
Low Carbon Green Growth in Asia: What is the Scope for Regional Cooperation?
09 April 2015
Abstract This paper develops a framework to assess the scope of collaboration among countries that are pursuing low-carbon green growth. Much of the policy studies … Read More
Globalization: A Woman's Best Friend? Exporters and the Gender Wage Gap
30 March 2015
While the impact of globalization on income inequality has received a lot of attention, little is known about its effect on the gender … Read More
Did China Tire Safeguard Save U.S. Workers?
30 March 2015
Abstract It has been well documented that trade adjustment costs to workers due to globalization are significant and that temporary trade barriers have been progressively … Read More
Transmission Channels of Economic Shocks in ASEAN
17 March 2015
This Policy Brief is based on ERIA Discussion Paper 2013-18 titled "Managing Economic Shocks and Macroeconomic Coordination in an Integrated Region: ASEAN Beyond … Read More
ASEAN PPP Guidelines
13 February 2015
List of Project Members Editors: � Fauziah Zen, Economist, Economic Research Institute for ASEAN and East Asia (ERIA) � Michael Regan, Professor of Infrastructure … Read More
Fiscal Policy and Equity in Advanced Economies: Lessons for Asia
27 January 2015
Abstract Advanced economies have a longer history of leveraging fiscal policy to address inequality relative to developing Asia. We examine the country experiences of the … Read More
Searching for an Ideal International Investment Protection Regime for ASEAN + Dialogue Partners (RCEP): Where Do We Begin?
17 December 2014
The members of the Association of the Southeast Asian Nation (ASEAN) and its six dialogue partners--Australia, China, India, Japan, South Korea, and New … Read More
Financing ASEAN Connectivity
30 November 2014
This report gives deeper insights on how the infrastructure development is being funded in different ASEAN Member States (AMSs) for ASEAN Connectivity. In … Read More
Infrastructure Investment for Power Trade and Transmission in ASEAN+2: Costs, Benefits, Long-Term Contracts, and Prioritised Development
04 November 2014
This study establishes a system approach in assessing the financial viability of power infrastructure investment for the Greater Mekong Subregion (GMS) and ASEAN … Read More
Energy Market Integration in East Asia: Energy Trade, Cross Border Electricity, and Price Mechanism
30 September 2014
Research on Energy Market Integration (EMI) has been the focus of many scholars, researchers, and leaders in the energy field as evidences, particularly in Europe … Read More
