Abstract
We develop a composite index to measure the degree of regional integration in Asia. The index comprises 26 indicators in six dimensions of regional integration, namely, trade and investment, money and finance, regional value chains, infrastructure and connectivity, free movement of people, and institutional and social integration. We use principal component analysis to apportion a weight to each indicator to construct dimensional sub-indexes, then follow the same procedure to weight the sub-indexes to construct the overall index. Asia is shown to be relatively well integrated along dimensions of trade and investment and the free movement of people, not so well integrated along the institutional and social dimension. Overall, Asia is somewhat more integrated than South America and Africa, but much less integrated than the European Union.
| Original language | English |
|---|---|
| Pages (from-to) | 22-38 |
| Number of pages | 17 |
| Journal | Journal of Asian Economics |
| Volume | 54 |
| DOIs | |
| Publication status | Published - 2018 Feb |
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All Science Journal Classification (ASJC) codes
- Finance
- Economics and Econometrics
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Asia-Pacific regional integration index : Construction, interpretation, and comparison. / Huh, Hyeon Seung; Park, Cyn Young.
In: Journal of Asian Economics, Vol. 54, 02.2018, p. 22-38.Research output: Contribution to journal › Article
TY - JOUR
T1 - Asia-Pacific regional integration index
T2 - Construction, interpretation, and comparison
AU - Huh, Hyeon Seung
AU - Park, Cyn Young
PY - 2018/2
Y1 - 2018/2
N2 - We develop a composite index to measure the degree of regional integration in Asia. The index comprises 26 indicators in six dimensions of regional integration, namely, trade and investment, money and finance, regional value chains, infrastructure and connectivity, free movement of people, and institutional and social integration. We use principal component analysis to apportion a weight to each indicator to construct dimensional sub-indexes, then follow the same procedure to weight the sub-indexes to construct the overall index. Asia is shown to be relatively well integrated along dimensions of trade and investment and the free movement of people, not so well integrated along the institutional and social dimension. Overall, Asia is somewhat more integrated than South America and Africa, but much less integrated than the European Union.
AB - We develop a composite index to measure the degree of regional integration in Asia. The index comprises 26 indicators in six dimensions of regional integration, namely, trade and investment, money and finance, regional value chains, infrastructure and connectivity, free movement of people, and institutional and social integration. We use principal component analysis to apportion a weight to each indicator to construct dimensional sub-indexes, then follow the same procedure to weight the sub-indexes to construct the overall index. Asia is shown to be relatively well integrated along dimensions of trade and investment and the free movement of people, not so well integrated along the institutional and social dimension. Overall, Asia is somewhat more integrated than South America and Africa, but much less integrated than the European Union.
UR - http://www.scopus.com/inward/record.url?scp=85041595953&partnerID=8YFLogxK
UR - http://www.scopus.com/inward/citedby.url?scp=85041595953&partnerID=8YFLogxK
U2 - 10.1016/j.asieco.2017.12.001
DO - 10.1016/j.asieco.2017.12.001
M3 - Article
AN - SCOPUS:85041595953
VL - 54
SP - 22
EP - 38
JO - Journal of Asian Economics
JF - Journal of Asian Economics
SN - 1049-0078
ER -