THE RULE OF LAW AND SUSTAINABLE ECONOMIC DEVELOPMENT IN THE ASEAN REGION: MALAYSIA, SINGAPORE, AND THAILAND

Muhd Fairuz MD Salleh and Anis Shuhaiza MD Salleh
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Muhd Fairuz MD Salleh: Universiti Kebangsaan Malaysia
Anis Shuhaiza MD Salleh: Universiti Utara Malaysia

Management and Marketing Journal, 2017, vol. XV, issue 2, 70-84

Abstract: Peace, freedom, and development are the most important concern of the world nowadays. Following that, the concept of Sustainable Economic Development (SED) emerged. In upholding the SED, the Association of Southeast Asian Nations (ASEAN) establishes the effective Rule of Law (ROL) in its region. However, the indicator does not show a satisfactory ranking of the ASEAN countries except for Singapore. Meanwhile, for Thailand and Malaysia, more advancement is needed for their economic progress. This article discusses how Singapore stands as a role model for Thailand and Malaysia. It seeks to create a link between the ROL and the SED. Then, it examines the legal scenario of ASEAN countries and to what extent they are complying with the principle of ROL. Finally, the article explores how much of ROL affects the countries’ SED. The ROL in these ASEAN countries is examined and compared to, aiming at proposing improvement for Malaysia.

Keywords: rule of law; ASEAN countries; sustainable development; sustainable economic development (search for similar items in EconPapers)
JEL-codes: E60 F43 (search for similar items in EconPapers)
Date: 2017
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