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2015 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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Medium-term economic outlook and assessment in Emerging Asia

OECD Development Centre

The growth prospects of Emerging Asia (Southeast Asia, China and India) look favourable overall in the medium term. Growth in the ASEAN-5 countries (Indonesia, Malaysia, the Philippines, Thailand and Viet Nam) remains robust and the CL M countries (Cambodia, Lao PDR and Myanmar) are emerging as an engine of regional growth, while there will be slowing in China. The region also remains exposed to several other external risks (including those stemming from the normalisation of US monetary policy, economic reform in Japan and euro area uncertainty) and internal risks (including political uncertainty and instability in a few countries). While most countries are well positioned to manage these risks, further efforts will be needed to improve the conditions for growth. Fiscal balances are, in general, not expected to change significantly but fiscal reforms still need to be strengthened further. Deeper regional integration in implementing the ASEAN Economic Community by 2015 is also critical for Southeast Asia.

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