ASEAN Economic Bulletin Vol. 10/2 (Nov 1993). Special Focus on "Law and Economic Development in the Asia-Pacific"

Contents

• Preliminary pages

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• Introduction, by Paul J Davidson, author
• Law and Development in ASEAN Countries, by Nobuyuki Yasuda, author see abstract
  Law plays an important role in the development process in the Association of Southeast Asian Nations (ASEAN). This article identifies three types of law in terms of their origin: "indigenous law", originating in the "proto states"; "imported law" introduced by colonial rulers; and "development law" arising since the independence of these states. From these types of laws functional principles are deduced to aid in understanding contemporary Third World legal systems more clearly in development perspectives. The historical development of ASEAN law is reviewed in these three time periods and the role which law has played in political, economic and social development in the region is examined. The conclusion suggests reasons why it may be desirable in the long term to integrate or at least co-ordinate the law and policy within the region but on a basis which reflects regional rather than Western tradition.
• The Legislative Framework for Direct Foreign Investment in ASEAN, by Sue S C Tang, author see abstract
  This article highlights the role of the legislative framework for direct foreign investment (DFI) and private sector development in ASEAN. The importance of DFI, the role and objectives of policy legislation in affecting DFI decisions, and the primary investment legislation are examined. The article concludes with some ideas on the policy legislation trends in the 1990s, and in so doing it considers whether much more needs to be done to keep pace with the formidable changes in many parts of the world.
• Disparities in EIA Systems of Indonesia, Malaysia, the Philippines and Thailand: Implications for the ASEAN Free Trade Area, by Marvic M.V.F Leonen, Joseph Sedfrey S Santiago, authors see abstract
  The development towards economic integration of the members of the Association of Southeast Asian Nations (ASEAN) foreseen by the creation of the ASEAN Free Trade Area (AFTA) could very well translate into an expansion of demand for goods which necessarily will lead to a more vigorous exploitation of natural resources in the region. Differences in laws regulating the use of resources can influence the choice of locating an investment which hopes to utilize a country's natural assets at the least cost. This article discusses the implications of the diversity in the frameworks for environmental impact assessment (EIA) off our ASEAN countries and suggests that concern for developing a uniform EIA system may be as important as the concern for tariffs in the development of an overall legal framework for economic integration in the region.
• A Pacific Basin Investment Agreement, by Stephen Guisinger, author see abstract
  Economic integration in the Pacific is usually discussed in the context of trade. However, the rapid growth of investment in the region suggests that capital flows could serve as an important integrating force. Investment policies in each of the region's economies have evolved separately with few bilateral investment treaties among the region's members and no regional or multilateral agreements to harmonize policies and ensure that benefits are shared equitably by home and host countries. The time is ripe for a region-wide investment agreement that covers expropriation, national treatment, right of establishment, performance requirements, investment incentives, and provides a dispute resolution mechanism. The Asia-Pacific Investment Code, recently drafted by the Pacific Economic Co-operation Council's Trade Policy Forum, provides a non-binding set of recommendations that could lead to better regional harmonization of investment rules in the Pacific. The Code could serve as the first step towards a more binding set of rules.
• DOCUMENTATION
• DOCUMENTATION: Press Release on Pragmatic Approach to Free Trade in the Asia-Pacific Region, 27 September 1993

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• DOCUMENTATION: ASEAN Co-operation in the 1990s. Opening Address by Mr Goh Chok Tong, Prime Minister of Singapore at the 26th ASEAN Ministerial Meeting, Singapore, 23 July 1993

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• DOCUMENTATION: Joint Communiqu on the 26th ASEAN Ministerial Meeting. Singapore, 23-24 July 1993

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• DOCUMENTATION: A Draft Asia-Pacific Investment Code on Encouraging International Investment in the Asia-Pacific Region.

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• BOOK REVIEW
• BOOK REVIEW: International Money and Debt: Challenges for the World Economy, by Rudiger Dornbusch and Steve Marcus, by Ingo Walter, author

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• BOOK REVIEW: Money in the People's Republic of China, by Gavin Peebles, by Wolfgang Veit, author

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• BOOK REVIEW: Authority and Academic Scribblers: The Role of Research in East Asian Policy Reform, edited by Sylvia Ostry, by Jacques Pelkmans, author

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• BOOK REVIEW: Improving Quality of Life in Rural Areas in Asia and the Pacific: Policies and Programmes, by Asian Productivity Organization, by Abdul Aziz Abdul Rahman, author

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• BOOK REVIEW: The Malaysian Economy: Pacific Connections, by Mohamed Ariff, by Myo Thant, author

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• BOOK REVIEW: Education in Asia: A Comparative Study of Cost Financing, by Jee-Peng Tan and Alain Knight, by Francisco L Roman, Jr , author

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• Conferences, Workshops and Seminars

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• ASEAN Chronology 1993

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• Some Recent Publications

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