Economic Convergence Among Asia-Pacific Economic Cooperation Members. A Comparative Analysis, 1960–2020

IF 1.3 Q1 AREA STUDIES

Millennial Asia Pub Date : 2023-11-09 DOI:10.1177/09763996231191574

César Lenin Navarro-Chávez, Francisco Javier Ayvar-Campos, Julio César Morán-Figueroa

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Abstract

The process of global economic integration is justified by the primary goal of inclusive and balanced growth for all economies, so it is relevant to identify the extent to which this goal has been achieved. This research evaluates whether the member economies of the Asia-Pacific Economic Cooperation (APEC) have experienced economic convergence during the 1960–1990 (pre-APEC) and 1990–2020 (post-APEC) periods. For this purpose, beta, sigma and gamma convergence are estimated, which are methodological approaches proposed by Barro and Sala-i-Martin (1991, Brookings Papers on Economic Activity, 1991(1), 170–182) and Marchante et al. (2006, Fundación de Estudios de Economía Aplicada Working Papers No. 2006-05), for APEC as a region and for the high- and middle-income economies that conform it. The results show that the process of economic convergence among APEC members intensified after its formation in 1989 and that the region can be categorized as an ‘economic convergence club’. As well as that, the high- and middle-income groups are converging towards their respective stationary state.

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亚太经合组织成员国的经济趋同。1960-2020年的比较分析

全球经济一体化进程的首要目标是实现所有经济体的包容性和平衡增长，因此确定这一目标的实现程度是有意义的。本研究评估了亚太经济合作组织(APEC)成员经济体在1960-1990年(APEC前)和1990-2020年(APEC后)期间是否经历了经济趋同。为此，对beta、sigma和gamma收敛进行了估计，这是Barro和Sala-i-Martin (1991, Brookings Papers on Economic Activity, 1991(1)， 170-182)和Marchante等人(2006,Fundación de Estudios de Economía applied Working Papers No. 2006-05)针对APEC作为一个区域以及符合该区域的高收入和中等收入经济体提出的方法。研究结果表明，1989年APEC成立后，各成员之间的经济趋同进程加剧，该地区可以被归类为“经济趋同俱乐部”。与此同时，高收入和中等收入群体正在向各自的平稳状态趋同。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Millennial Asia AREA STUDIES-

CiteScore

4.50

自引率

12.50%

发文量

期刊介绍： Millennial Asia: An International Journal of Asian Studies is a multidisciplinary, refereed biannual journal of the Association of Asia Scholars (AAS)–an association of the alumni of the Asian Scholarship Foundation (ASF). It aims to encourage multifaceted, multidisciplinary and interdisciplinary research on Asia, in order to understand its fast changing context as a growth pole of global economy. By providing a forum for Asian scholars situated globally, it promotes dialogue between the global academic community, civil society and policy makers on Asian issues. The journal examines Asia on a regional and comparative basis, emphasizing patterns and tendencies that go beyond national borders and are globally relevant. Modern and contemporary Asia has witnessed dynamic transformations in cultures, societies, economies and political institutions, among others. It confronts issues of collective identity formation, ecological crisis, rapid economic change and resurgence of religion and communal identifies while embracing globalization. An analysis of past experiences can help produce a deeper understanding of contemporary change. In particular, the journal is interested in locating contemporary changes within a historical perspective, through the use of interdisciplinary and multidisciplinary approaches. This way, it hopes to promote comparative studies involving Asia’s various regions. The journal brings out both thematic and general issues and the thrust areas are: Asian integration, Asian economies, sociology, culture, politics, governance, security, development issues, arts and literature and any other such issue as the editorial board may deem fit. The core fields include development encompassing agriculture, industry, regional trade, social sectors like health and education and development policy across the region and in specific countries in a comparative perspective.