Shaping Policy Reform and Peer Review in Southeast Asia

Integrating Economies Amid Diversity

image of Shaping Policy Reform and Peer Review in Southeast Asia

The Southeast Asian region has experienced remarkable economic dynamism in the past few decades. An interesting feature of recent developments in the region, is that in spite of its diversity, several initiatives have been launched towards integration.

The peer review mechanism has been a tried and tested instrument for OECD member states to work together successfully over the past decades. This tool could benefit the Southeast Asian region as it helps identify good practices, establish standards and principles and ultimately improve the performance of participating economies. This publication presents the proceedings of a conference in which  the possible application of peer reviews to address regional and domestic challenges in Southeast Asia were discussed.



Comparative Aspects of Peer Reviews

OECD, IMF and the European Union

There are different models for conducting peer reviews of economic performance and policies of individual countries and my main purpose in preparing this chapter is to compare the current practices in three international frameworks: the OECD, the International Monetary Fund (IMF) and the European Union (EU). Interesting differences between the three frameworks emerge both in the methods of work and in the roles played by national governments in the peer review processes. Some of these differences can be explained by the main subject matter under reviews, others by the size and cohesiveness of the membership of the international institution in question. Still others may be more difficult to understand.


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