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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.

English

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Japan's Experience of OECD Peer Reviews

Among the many OECD peer reviews that have taken place since Japan joined the OECD on 28 April 1964, Economic Surveys (conducted every 18 months and of which there have been 33) and reviews of official development assistance (ODA), which take place every 3-4 years and of which there have been 4, are considered the most important and are the most widely publicised in Japan. The growing pressures of economic globalisation have heightened OECD members’ awareness of the importance of domestic macroeconomic and structural policies and external policy co-ordination, while highlighting the need to learn from other countries’ experiences and to coax public opinion into support for painful domestic reforms that are essential to long-term economic growth and the wellbeing of people in countries the world over.

English

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