DOES FOREIGN DIRECT INVESTMENT CAUSE A RACE TO THE BOTTOM?

Donghyun Park, Simon Tan Eng Kui, Tan Yee Keong, Alexius Wong Chow Khin and Yap Tee Peng

Journal of the Asia Pacific Economy, 2003, vol. 8, issue 2, 251-279

Abstract: One of the main initiatives for regional economic integration and cooperation in Southeast Asia is the Greater Mekong Sub-Region (GMS), which involves Cambodia, Laos, Myanmar, Thailand, Vietnam and China's Yunnan Province. Our paper provides an overview of major recent developments in the GMS initiative. In particular, we explore the impact of the Asian financial crisis and the economic role of Thailand within the group. Being the largest and most market-oriented economy, Thailand is a natural leader of the GMS. We conclude with a discussion of the GMS initiative's prospects in the aftermath of the Asian crisis.

Date: 2003
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DOI: 10.1080/1354786032000074758

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