India-ASEAN-5 Economic Integration: Impact of Liberalization
Understanding the degree of integration between India and the Association of Southeast Asian Nations (ASEAN) is important to measure the impact of the proposed India-ASEAN Free Trade Area (FTA). If both India and ASEAN are well integrated, the impact of such liberalization will be small and vice ver...
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| Format: | Article |
| Language: | English |
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Icfai University Press
2007
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| Online Access: | http://ir.unimas.my/id/eprint/18636/ http://ir.unimas.my/id/eprint/18636/1/India-ASEAN-5%20Economic%20Integration%20%28abstract%29.pdf |
| _version_ | 1848838554595098624 |
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| author | Liew, Venus Khim-Sen Lee, Huay-Huay Lee, Hock-Ann |
| author_facet | Liew, Venus Khim-Sen Lee, Huay-Huay Lee, Hock-Ann |
| author_sort | Liew, Venus Khim-Sen |
| building | UNIMAS Institutional Repository |
| collection | Online Access |
| description | Understanding the degree of integration between India and the Association of Southeast Asian Nations (ASEAN) is important to measure the impact of the proposed India-ASEAN Free Trade Area (FTA). If both India and ASEAN are well integrated, the impact of such liberalization will be small and vice versa. The Augmented Dickey-Fuller (ADF) and Phillips and Perron (PP) test results indicate that India and ASEAN are relatively integrated with respect to goods and services markets, but the Purchasing Power Parity (PPP) evidence is comparatively still a weaker one. Financial market integration, however, remains significantly incomplete. The main implication of this finding is that the impact of future liberalization will be great on financial markets. Due to the weak PPP evidence, the goods and services markets will also receive substantial impact from future liberalization. This suggests that the two regions could further exploit their partnership in FTA in their complementary areas, both in goods and services markets, and financial markets, in particular. |
| first_indexed | 2025-11-15T06:57:24Z |
| format | Article |
| id | unimas-18636 |
| institution | Universiti Malaysia Sarawak |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T06:57:24Z |
| publishDate | 2007 |
| publisher | Icfai University Press |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | unimas-186362017-11-17T07:12:47Z http://ir.unimas.my/id/eprint/18636/ India-ASEAN-5 Economic Integration: Impact of Liberalization Liew, Venus Khim-Sen Lee, Huay-Huay Lee, Hock-Ann HB Economic Theory Understanding the degree of integration between India and the Association of Southeast Asian Nations (ASEAN) is important to measure the impact of the proposed India-ASEAN Free Trade Area (FTA). If both India and ASEAN are well integrated, the impact of such liberalization will be small and vice versa. The Augmented Dickey-Fuller (ADF) and Phillips and Perron (PP) test results indicate that India and ASEAN are relatively integrated with respect to goods and services markets, but the Purchasing Power Parity (PPP) evidence is comparatively still a weaker one. Financial market integration, however, remains significantly incomplete. The main implication of this finding is that the impact of future liberalization will be great on financial markets. Due to the weak PPP evidence, the goods and services markets will also receive substantial impact from future liberalization. This suggests that the two regions could further exploit their partnership in FTA in their complementary areas, both in goods and services markets, and financial markets, in particular. Icfai University Press 2007-01 Article PeerReviewed text en http://ir.unimas.my/id/eprint/18636/1/India-ASEAN-5%20Economic%20Integration%20%28abstract%29.pdf Liew, Venus Khim-Sen and Lee, Huay-Huay and Lee, Hock-Ann (2007) India-ASEAN-5 Economic Integration: Impact of Liberalization. The ICFAI Journal of Applied Economics, VI (6). pp. 1-15. ISSN 0972-6861 https://www.researchgate.net/publication/5105092 |
| spellingShingle | HB Economic Theory Liew, Venus Khim-Sen Lee, Huay-Huay Lee, Hock-Ann India-ASEAN-5 Economic Integration: Impact of Liberalization |
| title | India-ASEAN-5 Economic Integration: Impact of Liberalization |
| title_full | India-ASEAN-5 Economic Integration: Impact of Liberalization |
| title_fullStr | India-ASEAN-5 Economic Integration: Impact of Liberalization |
| title_full_unstemmed | India-ASEAN-5 Economic Integration: Impact of Liberalization |
| title_short | India-ASEAN-5 Economic Integration: Impact of Liberalization |
| title_sort | india-asean-5 economic integration: impact of liberalization |
| topic | HB Economic Theory |
| url | http://ir.unimas.my/id/eprint/18636/ http://ir.unimas.my/id/eprint/18636/ http://ir.unimas.my/id/eprint/18636/1/India-ASEAN-5%20Economic%20Integration%20%28abstract%29.pdf |