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.


Thailand's Economic and Social Development

Agenda under the Interim Government and View on Peer Review Mechanism

The Thai economy recovered from the Asian economic crisis in 1997 with strong economic growth that averaged 5% in 2000-06. Poverty, which increased during the turmoil, is now lower than the pre-crisis level. Unemployment is around 1.5%, which is considered a little lower than the natural rate of unemployment. Economic stability is also strong, as demonstrated by the current account surplus, high foreign reserves, decreasing public debt, and non-performing loans (NPLs) in the banking sector. However, since 2005, the country has experienced political uncertainty, which led to a military intervention on the 19 September 2006. The interim government subsequently announced that a new election would be held towards the end of 2007.


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