ASEAN AFTER THE GLOBAL CRISIS: MANAGEMENT AND CHANGE

THE 36^TH FEDERATION OF ASEAN ECONOMIC ASSOCIATIONS (FAEA) CONFERENCE

ASEAN AFTER THE GLOBAL CRISIS: MANAGEMENT AND CHANGE

24-25 November 2011, Kuala Lumpur, Malaysia

Venue: CITITEL Hotel, (Mid Valley) , Kuala Lumpur

CALL FOR PAPERS

INTRODUCTION

With the global economy on the mend after the Global Financial Crisis that began in 2008, it is time to take stock and learn lessons with a view to mitigating future shocks. This review is particularly important for ASEAN as it faces a changed world, arising especially with the rise of Asia’s giants at its doorstep. While ASEAN and its members have had successes in meeting challenges before, for instance, when the Cold War ended and the Asian Financial Crisis struck, the new environment will test ASEAN’s resourcefulness.

GOALS

The goals of this conference are to:

Share experiences on issues arising from the impact of the Global Financial Crisis on ASEAN countries
Seek common ground on strategies to manage change
Identify areas for collaboration in research and programs of mutual interest and benefit.

THEMES

Session 1: After the Global Financial Crisis: ASEAN in a Changing World

The Global Financial Crisis has accelerated the shift in the economic balance of power from West to East, a shift that had already begun at the end of the last century. ASEAN is part of this shift, owing its recovery to the stimulus-fuelled sustained growth of China, and to the growing importance of India in the regional economy. What will be the magnitude and nature of ASEAN’s role change in the face of the rise of China and India? Within ASEAN, will differences in country economic performances ( for instance, with both Indonesia and Vietnam recording positive economic growth rates through the crisis) alter economic relations within ASEAN?

Session 2: Financial Sector Change

Coming through the Global Financial Crisis,ASEAN’s financial sector has been both blessed by earlier reforms that strengthened its resilience but also challenged by its relatively underdevelopment compared to the mature financial markets in the U.S. and the EU. A major reason is that it is still more efficient to intermediate savings in the U.S. and the EU markets than in the ASEAN markets. It seems paradoxical that Western markets are seen as more attractive than ASEAN markets, given the fact that the former markets are still threatened by sovereign and moral hazard risks associated with threats to major financial institutions. How can ASEAN’s financial sectors and policymakers learn the lessons from Europe and America to addressing their own shortcomings as part of financial reform? Beyond addressing domestic weaknesses, can ASEAN take the lead to articulate a unified Asian voice in the Group of 20 leading economies in driving the overhaul of the global financial reform?

Session 3: Institutional Change

Institutions play as important a role as policies in economic development, becoming increasingly vital as a country moves up the development ladder. In their quest to advance from middle- to high-income status, ASEAN countries are clearly mindful of the need to strengthen institutions. This need is powerfully expressed in Malaysia’s New Economic Model and in Vietnam’s next Ten-Year Socioeconomic Development Strategy. In Singapore, an institution like A-STAR has been set up to nurture potential and young promising scientists who will contribute to development in science and technology. In the context of the Global Crisis, how well have ASEAN countries’ and ASEAN’s institutions stood up against the economic shocks? Does ASEAN have anything to say about the reform of global governance that can help reduce the risk and impact of future shocks? Beyond the immediate future, how can ASEAN institutions be strengthened to serve the objective of sustained long-term growth?

Session 4: Political and Social Changes

Although the origins of the Global Financial Crisis were economic, the consequences of the Crisis have implications far beyond economics. The shift in the economic balance of power has geo-political ramifications. A resurgent East, with a significant share of the world’s foreign reserves, will demand greater voice in world affairs than it had been accustomed to. The West, the incumbent hegemon, though badly bruised, is not likely to yield ground easily. Adding to the friction is the contest of ideas if not ideology. This contest revolves around the role of the state. ASEAN sits at the crossroads between East and West. Though Asian is rich in culture and in geography, ASEAN has outlooks and political economic systems that straddle both worlds. Western influence has been exercised through years of the Cold War, a largely Western trained elite, and vestiges of the colonial empire. Yet the role of the state and the nature of leadership have undeniably Asian roots. The geopolitical developments arising from the Global Financial Crisis bring new challenges to this context, complicating policy-making in the process. Broadly speaking, how can ASEAN respond effectively to the Crisis and its aftermath while balancing, and if possible benefiting from, the contest for regional leadership as well as from the interests of the global powers?

Session 5: Food Security: Reshaping the Development Agenda in ASEAN

The world’s population is projected to reach 9.1 billion in 2050. Much of this population is located in Asia and South East Asia (SEA). Feeding this population will pose many challenges. Problems related to this topic can be expected to be felt keenly in ASEAN countries. This session examines fundamental problems and issues that are related to food security that need immediate and urgent attention.

Some of the problems and issues that affect food security are:

(a) Climate change

(b) Other natural disasters

(d) Market forces and manipulation of prices.

(e) Man-made disasters

Issues like climate change, disasters like tsunami and earthquakes, drought and floods; diminishing availability of quality land and water are challenging the planet’s capacity to produce enough food for everyone. This may well pave the way for a new global ‘food crunch’ as the global demand for food will increase over the next 40 years. To what extent is climate change to be blamed for high food prices? Scientific evidence shows that the earth is warming due largely to human activities and at a potentially unprecedented rate. Long-term changes in climate already have occurred and are projected to continue, including sea-level rises, massive floods, more intense and longer droughts, more intense tropical storms, and more frequent heat waves.

These problems highlight the need for a new agenda to reshape ASEAN’s response towards improved food security.

Session 5 will attempt to answer some of the following questions. How can national economies introduce an integrated growth dynamics framework that is centred on sustainable development? How can countries improve their readiness to deal with the effects of climate change and focus analytical work on identifying the direct links between agricultural production and climate change? How can the region support each other in times of natural disasters? What is the role of government in promoting the application of alternative energy in addressing some issues of food production? What measures can be put in place to curb market manipulation in times of shortages, to reduce hardship to consumers?

The issue of food security is indeed one of global magnitude that has regional and national importance for ASEAN countries. Therefore, at the ASEAN level, these issues need the most serious attention and consideration.

**Papers will be peer reviewed and selected for publication in Malaysian Journal Economic Studies (MJES) – a special issue.

INFORMATION

1. VENUE AND DATE

The Conference will be held in :

Venue : CITITEL Hotel (Mid Valley), Kuala Lumpur, Malaysia,

Date : 24-25 November 2011 (Thursday to Friday).

The Malaysian Economics Association would like to cordially invite academicians, policymakers and practitioners, and all interested parties to participate in the conference.

2. DEADLINES, GUIDELINES, CONTACTS

Important Dates:

Submission of abstracts: 20 August 2011

Decision on acceptance of papers: 20 September 2011

Submission of Final Papers: 20 October 2011.

Guidelines:

The cover page of the paper should contain the title, authors’ names, affiliations, phone and fax numbers and email addresses.
The abstract and full papers should be written using Microsoft Word Document with font Times New Roman, font size 12 and 1.5 spacing.
Footnotes should be numbered consecutively in the text.
Illustrations, figures and tables should be numbered in Arabic numerals, accompanied by titles and sources.

Submission and Contacts:

Please submit your papers by email to:

Ms. Normala / Ms. Angie : pem@mgt.org.my
Dr. Santha Chenayah :santha@um.edu.my

The Secretariat can be contacted at the following telephone number:

(603) 7956 0075 / 79673647

3. SPONSORSHIP FOR PAPER WRITERS AND OFFICIALS

The official paper presenter (2 paper presenter from each FAEA member country) will be fully sponsored (airfare, accommodation and the conference fees) by Malaysian Economic Association. Registration fee will be waived for 2 officials representing each FAEA member country.

4. PARTICIPATION COSTS

Registration Fee:

The Registration fee of U$150/ MYR450 covers:

– Conference materials

– Reception buffet on 23^rd November 2011

– Lunches and coffee breaks on 24 and 25^th November 2011

– PUTRAJAYA cruise and dinner on 24^th November 2011

– Hi-Tea on the 25^th 2011

Participants are responsible for their own travel expenses and hotel costs at the conference venue. (Note: a block booking of rooms will be made by the Organizers at negotiated preferential rates).