Constructing the Asia-Pacific Regional Cooperation and Integration Index: A Panel Approach

Cyn-Young Park () and Racquel Claveria

Working Papers from eSocialSciences

Abstract: This paper proposes a panel approach in the construction of the Asia-Pacific Regional Cooperation and Integration Index (ARCII) to strengthen the index’s ability to track the progress of economic integration in the region over time. Panel-based procedures are employed in imputing missing values, normalizing raw data, and deriving dimensional and subdimensional weights via principal components analysis. Findings suggest the pace of integration in Asia was broadly steady over the 11-year sample period (2006–2016). However, modest gains have been made as a majority of economies in the sample have moved up in their levels of regional integration from 2006 to 2016. Of the six dimensions featured in the ARCII, trade and investment and movement of people are the main drivers of regional integration, while the money and finance dimension was the weakest link. Based on global normalization, Asia comes second to the European Union (EU) in progress on regional integration, but in recent years a few Asian economies have broken through to the top tier dominated by the EU economies.

Keywords: eSS; Asia; composite index; regional integration; Asia-Pacific Regional Cooperation and Integration Index (ARCII); Panel-based procedures; Panel Principal Component Analysis-Derived Weights; Normalization; Imputation of Missing Data; Weighting; Aggregation; Dimensional Subindexes over Time; Regional Integration. (search for similar items in EconPapers)
Date: 2018-06
Note: Institutional Papers
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (8)

Downloads: (external link)
http://www.esocialsciences.org/Download/repecDownl ... AId=12813&fref=repec

Related works:
Working Paper: Constructing the Asia-Pacific Regional Cooperation and Integration Index: A Panel Approach (2018)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ess:wpaper:id:12813

Access Statistics for this paper

More papers in Working Papers from eSocialSciences
Bibliographic data for series maintained by Padma Prakash ().