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More than a ‘blip’: The changed character of South‐East Asia’s engagement with the global economy in the post‐1997 period
Author(s) -
Pritchard Bill
Publication year - 2006
Publication title -
asia pacific viewpoint
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.571
H-Index - 38
eISSN - 1467-8373
pISSN - 1360-7456
DOI - 10.1111/j.1467-8373.2006.00315.x
Subject(s) - foreign direct investment , period (music) , east asia , scope (computer science) , character (mathematics) , politics , investment (military) , economy , political science , development economics , economics , china , physics , geometry , mathematics , acoustics , computer science , law , programming language
Through reviewing South‐East Asia’s recent economic engagement with the global economy, this paper points to profound recent transformations in the scope and character of the region’s development. Foreign direct investment was the key driver of regional growth in the pre‐1997 period, yet currently, the region faces a more difficult and multifaceted economic arena from which to attract such funds. Foreign direct investment is more selective, both geographically and by sector, than was the case in that earlier period. This paper explains the confluence of economics, business practices and politics that are giving rise to these outcomes, and concludes from this that development trajectories in South‐East Asia will become more diverse between the countries of the region, with implications for how we understand regional economic performance.