Open Access Journal Article

Underlining issues of emerging economies: a case of East and Southeast Asian Countries

by Mohammad Rezaul Karim a orcid  and  Md. Mizanur Rahman b,* orcid
a
Bangladesh Public Administration Training Centre, Deputy Director, Dhaka, Bangladesh
b
Bangladesh Public Administration Training Centre, Research Officer, Dhaka, Bangladesh
*
Author to whom correspondence should be addressed.
JRE  2023 2(1):7; https://doi.org/10.58567/jre02010002
Received: 23 March 2023 / Accepted: 22 April 2023 / Published Online: 30 May 2023
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Abstract

Overall development of a country largely depends on the economic policy instruments particularly fiscal and monetary policy to streamline the development and continue the developmental progress. These two policies have significant effects on long-term growth. It is noticed that policy adoption and reforms in both fiscal and monetary policies undertaken by Southeast Asian nations during the 1960s through 1990s have contributed to their advancement. This paper discusses the strategies for flourishing as emerging economies. Examples from Singapore, Thailand and Vietnam are highlighted in this study. It is found that prudent fiscal and monetary policy, effective discounting and interest rate; modernized tax system and most importantly policy regime are the contributing factors of these emerging economies. However, in spite of high-income growth and development because of supportive these policy initiatives, administrative and politico-economic constraints challenged the path of economies. Long-term development strategies are suggested to sustain the growth and continue the development pace.

Keywords: Fiscal Policy; Monetary Policy; Policy Regime; Discounting Rate; Interest Rate; Tax System;
Copyright: © 2023 by Karim and Rahman. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY) (Creative Commons Attribution 4.0 International License). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.

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ACS Style
Karim, M. R.; Rahman, M. M. Underlining issues of emerging economies: a case of East and Southeast Asian Countries. Journal of Regional Economics, 2023, 2, 7. https://doi.org/10.58567/jre02010002
AMA Style
Karim M R, Rahman M M. Underlining issues of emerging economies: a case of East and Southeast Asian Countries. Journal of Regional Economics; 2023, 2(1):7. https://doi.org/10.58567/jre02010002
Chicago/Turabian Style
Karim, Mohammad R.; Rahman, Md. M. 2023. "Underlining issues of emerging economies: a case of East and Southeast Asian Countries" Journal of Regional Economics 2, no.1:7. https://doi.org/10.58567/jre02010002
APA style
Karim, M. R., & Rahman, M. M. (2023). Underlining issues of emerging economies: a case of East and Southeast Asian Countries. Journal of Regional Economics, 2(1), 7. https://doi.org/10.58567/jre02010002

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