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Economic Outlook for Southeast Asia, China and India 2015

Strengthening Institutional Capacity

image of Economic Outlook for Southeast Asia, China and India 2015

The Economic Outlook for Southeast Asia, China and India is an annual publication on Asia’s regional economic growth, development and regional integration process. It focuses on the economic conditions of the Association of Southeast Asian Nations (ASEAN) member countries  – Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Viet Nam –, and also addresses relevant economic issues in China and India to fully reflect economic developments in the region. The Outlook provides an annual update of regional economic trends and policy challenges, and a thematic focus which is specific to each volume. The 2015 edition of the Economic Outlook for Southeast Asia, China and India comprises two main parts, each highlighting a particular dimension of recent economic developments in the region. The first part presents the regional economic monitor, depicting the medium-term economic outlook and macroeconomic challenges in the region. The second part consists of three chapters on “institutional capacity”, which is the special thematic focus of this edition.

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Main findings and policy recommendations

OECD Development Centre

While the growth prospects of the OECD countries continue to moderate, they look favourable overall in the 12 Emerging Asian economies (i.e. ASEAN-10, China and India) for 2015-19, averaging 6.5% per year, according to this Outlook’s Medium-term Projection Framework (MPF-2015). Although growth in Emerging Asia will moderate gradually due to the slowdown in China, for the ten ASEAN countries as a whole, growth momentum remains robust and broadly similar to the past ten years, averaging 5.6% in 2015-19. The year 2014 saw major transformations in the region’s political landscape, with economies being impacted differently. Indonesia’s presidential election brought Joko Widodo to power, while India’s general election ushered in Narendra Modi as the new Prime Minister. The electoral processes in both countries were widely regarded as successful, peaceful changes of government. However, territorial disputes over the sovereignty of the South China Sea affected tourism and exports in some countries, while political unrest in Thailand has had relatively strong economic impacts.

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Graphs

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