Analisis Fundamental Integrasi Ekonomi ASEAN

Abstract

ASEAN Economy Community aims to form a region which has economic stability, high competitiveness and reduce the economic gap among the members. The convergence of economic fundamentals in ASEAN is needed in order to the economic equality among the members. This study analyzes the convergence of income and inflation in ASEAN in the period of 2005 to 2012 using the Maastricht Treaty convergence criteria, unconditional convergence and conditional convergence analysis with Generalized Method of Moment (GMM). The results of this study indicate that Maastricht Treaty criteria are not wholly met by all the members, except for Brunei Darussalam and Thailand. Based on the unconditional convergence analysis, an income convergence occurs in ASEAN, but the inflation convergence has not occurred. While based on conditional convergence analysis, there is an income and inflation convergence in ASEAN. The rate of income convergence in ASEAN is 8.4% per year and the rate of inflation convergence in ASEAN is 28.06% per year .