[N(poster)] ポスターセッション

英語

[1O05] ASEAN Economic Integration and Regional Development: Progress, Impacts, and Future Pathways

*LU Wanxue¹ (1. Ritsumeikan University)

キーワード：

ASEAN Economic Integration、Bank Competition、Financial Stability

In 2010s, the Association of Southeast Asian Nations (ASEAN) adopted a regional financial integration framework designed to foster deeper economic cooperation by enhancing banking competition, promoting financial inclusion, and improving the quality and accessibility of financial services. This initiative was expected to accelerate economic development and strengthen ASEAN’s position within the global economy. However, more than a decade later, the actual impacts of this integration, particularly on banking competition and financial stability, remain contested among scholars and policymakers. While previous studies on financial integration have largely focused on the European context and yielded inconsistent findings, empirical evidence on ASEAN’s banking sector remains limited. This study addresses this gap by investigating the effects of financial integration within the ASEAN-6 economies—Indonesia, Malaysia, Singapore, Thailand, the Philippines, and Vietnam—using panel data from commercial banks covering the period 2011 to 2020. Specifically, it examines how cross-border banking activities influence market competition and financial stability while also analyzing the link between competition and bank fragility to provide country-level insights. The study’s findings suggest that although greater cross-border banking integration contributes to enhanced financial stability, it paradoxically undermines banking competition across the region. This suggests that unfettered competition, without adequate regulatory safeguards, may heighten systemic vulnerabilities. The study underscores the importance of coordinated prudential regulation and supervisory frameworks to ensure that ASEAN’s financial integration contributes not only to robust banking systems but also to sustainable regional development and inclusive economic growth.