Association Of Southeast Asian Nations Countries Research Articles

The role of renewable energy and foreign direct investment toward environmental degradation convergence to achieve sustainability: evidence from ASEAN countries

The role of renewable energy and foreign direct investment toward environmental degradation convergence to achieve sustainability: evidence from ASEAN countries

CO2 Emissions Mitigation in ASEAN Countries: The Role of Renewable Energy Use and Financial Development

The nations comprising the Association of Southeast Asian Nations (ASEAN) face a pressing need to enhance environmental sustainability, given their substantial reliance on fossil fuels, contributing to 5.2% of global CO2 emissions. Thus, understanding the pivotal role of renewable energy in this context is paramount. This research employs a panel vector autoregression method to analyze the interplay of financial development, renewable energy, and CO2 emissions across ASEAN nations from 1990 to 2020. Findings reveal that while renewable energy consumption shows an insignificant impact on carbon emissions, financial development, and economic growth significantly and positively influence emissions. Conversely, labor exhibits a notable negative correlation with CO2 emissions. Moreover, a bidirectional relationship exists between financial development and economic growth, as well as between labor and GDP. Additionally, unidirectional links are observed from capital formation to CO2 emissions, from renewable energy utilization to fossil fuel dependency, and from renewable energy usage to capital formation. These outcomes underscore the inadequacy of current financial systems in fostering environmental sustainability, highlighting the urgent need for integrating environmental considerations into their operations.

Re‐Unveiling the energy efficiency impact: Paving the way for sustainable growth in ASEAN countries

AbstractThe Association of Southeast Asian Nations (ASEAN) heavily relies on fossil fuels to drive economic growth, making it one of the world's largest greenhouse gas emitters. Promoting energy efficiency has been proposed as a solution to mitigate this issue. However, the potential negative impact of energy efficiency on economic growth remains unclear. Therefore, this study aims to re‐evaluate the dynamic impact of overall energy efficiency on economic growth in ASEAN countries, considering climate change factors. Unlike prior studies, this research measures overall efficiency based on both persistent and transient components of energy efficiency. This study employs two key techniques: stochastic frontier analysis (SFA) to estimate the overall energy efficiency and panel vector autoregression (PVAR) to analyze the dynamic causal effects of determinants' shocks. The findings suggest that enhancing ASEAN's overall energy efficiency could result in an 85.9% reduction in total energy consumption, indicating high levels of inefficiency in the region. While extensive energy efficiency measures might induce a temporary economic contraction in ASEAN countries, the rate of decline seems to abate over the long term. This implies that the impact of the energy efficiency shock will be most prominent during initial growth stages, progressively waning over time. Additionally, this study confirms the presence of the Environmental Kuznets Curve (EKC) for climate change and economic growth.

China-ASEAN Economic Ties: Balancing Growth amid Middle-Income Challenges and Opportunities

The introduction of a free trade area between the Association of Southeast Asian Nations (ASEAN) and China (ACFTA) in 2012 brought China to a leading economic position in Southeast Asia (this was manifested in a significant, almost 2.2-fold, increase in the volume of trade) and turned it into a driving force of ASEAN’s economic prosperity. However, this increased economic interdependence creates challenges for both China and ASEAN: on the one hand, China seeks to make the transition from a high-income country to sustainable economic development in the ASEAN region, and on the other hand, ASEAN has concerns about excessive economic dependence on China. This situation requires a balance to be struck to avoid repeating the historical patterns seen in Japan in the 1960s and 1980s. This article examines the investment, trade and geopolitical relations between China and ASEAN in a historical retrospective of 2010-2022, assesses their economic dependence and the mechanisms of political-economic relations, identifies the factors that caused China’s rapid economic breakthrough, and outlines directions for overcoming the most modern challenges that have place in the context of this relationship through formulation of suggested frameworks. The article considers 2 research questions, for the solution of which the G/T (Grounded Theory) approach was used and a qualitative analysis of the 12 most relevant sources was carried out (limitation of their number – according to the concept of theoretical saturation), selected primarily through online databases, websites, international organizations’ data, analytical reviews, and scientific papers. RQ1: Identify the root causes of the problems faced by ASEAN middle-income countries in their engagement with China. The article identifies the following 3 main reasons through the empirical review analysis: 1) dependence of middle-income ASEAN countries on financial assistance, especially from China; 2) a noticeable decrease in unity in the ASEAN region; 3) China’s lack of recommendations on the advisory policy of economic development in the ASEAN countries. RQ2: development of recommendations for middle-income ASEAN countries to increase their ability to pave independent paths to sustainable economic development and reduce their economic dependence on China, taking into account the review of the balance of power in political relations with the United States and China. Using the qualitative analysis tool ATLAS.ti (version 24) for the G/T approach, it was concluded that to overcome the syndromes of lower-middle-income trap (LMIT) and higher-middle-income trap (HMIT), ASEAN economies should implement the following spontaneous strategies: infrastructure development, improvement of basic education and promotion of science and technology. In addition, it is important to raise awareness of political tensions between China and the US, apply the techniques of thoughtful diplomacy, fine-tuned policy formulation, and shared vision to establish a diplomatic balance between China, the US, and Japan in the context of geopolitical risk management.

Green education divide: a comparative case study analysis of countries of the Association of Southeast Asian Nations

BackgroundGreen education is an essential precursor to promoting long-term sustainable practices and fostering environmentally conscious behaviours, especially among the younger generations. Such education equips individuals with the knowledge, awareness, and experiences necessary for green behavioural shifts, empowering them to engage actively in sustainable practices in the long run, which is essential for ensuring environmental sustainability. However, green education practices and policies vary among the countries of the Association of Southeast Asian Nations (ASEAN) owing to different levels of socioeconomic development, national priorities, and capacities of each member state. We aimed to analyse and compare the disparities in green education among pace-setter, maturing, and emerging ASEAN countries. MethodsWe used a case-study approach—a desktop analysis based on journal articles, country reports, newspaper articles, and other sources from the past 10 years—to analyse and compare the green education disparities among pace-setter, maturing, and emerging ASEAN countries. FindingsAs a pace-setter ASEAN country, Singapore has made impressive progress in promoting green education through the effective implementation of pragmatic policies and impactful green education initiatives. Furthermore, the country has established extensive formal and informal green education programmes that closely align with the Singapore Green Plan 2030. By contrast, maturing ASEAN countries are making incremental progress in incorporating green education into their formal education systems. However, challenges faced by these countries include a shortage of well-trained teachers, the lack of specific green education subjects in school syllabuses, and financial constraints. Despite these challenges, innovative approaches—such as partnerships with non-governmental organisations (eg, the World Wide Fund for Nature)—have emerged as promising strategies to promote green education within these maturing nations. Emerging ASEAN countries face the biggest challenges in promoting green education. Competing national priorities, political instability, limited funding and resources, inadequate infrastructure, and a lack of qualified educators pose challenging barriers to advancing green education within emerging ASEAN nations. InterpretationThis study provides insights into the best practices and challenges surrounding green education within pace-setter, maturing, and emerging ASEAN countries. To address the disparities in green education among these countries, there is a need to adopt a holistic ecosystem framework characterised by the so-called 8i enablers, namely infrastructure (eg, well-equipped laboratories and learning spaces), infostructure (eg, advanced teaching technologies), intellectual capital (eg, well-trained educators), integrity systems (eg, efficient green education governance systems), incentives (eg, public and private funding for green education initiatives), institutions (ie, strong institutional leaders), interaction (ie, cooperation and collaboration among relevant stakeholders), and internationalisation (eg, leveraging regional and international partnerships to access expertise and resources). FundingNone.

Unveiling financial inclusion dynamics: Fintech's resonance in Association of Southeast Asian Nations (ASEAN)

AbstractThis article examines the determinants of financial inclusion in the Association of Southeast Asian Nations (ASEANs), with a particular focus on the role of financial technology (fintech). We constructed an extensive and up‐to‐date Global Financial Inclusion database (2011, 2014, 2017, and 2021) to generate 26,185 observations for seven ASEAN countries over a decade, and conducted a separate case study for Singapore, the region's most financially developed member. The results reveal that financial inclusion and financial technology have experienced robust growth in ASEAN but to varying degrees amongst the member countries. Fintech has a significant impact on financial inclusion over the specified period. The relationship between age and financial inclusion follows an inverted U‐shaped pattern, with the turning point occurring between the ages of 29 and 45. Surprisingly, gender does not appear to be a determining factor. These results align with the aspirations of ASEAN policymakers to promote financial inclusion in line with the sustainable development goals.

The role of renewable energy in the energy–growth–emission nexus in the ASEAN region

BackgroundThe Association of Southeast Asian Nations (ASEAN) relies mainly on fossil fuels in their energy supply, leading to higher CO2 emissions, pollution, and further environmental degradation. This paper uses the panel vector autoregressive and the Granger non-causality test in the heterogeneous panels, together with long-run estimation techniques, to examine the dynamic link among energy consumption, economic growth, and carbon emissions with the focus on renewable energy for the ASEAN countries in the past three decades.ResultsThe findings from this paper indicate that carbon emissions are associated with energy consumption. In contrast, renewable energy usage reduces CO2 emissions, improving environmental quality. Economic growth is associated with increased energy consumption and carbon emissions in the ASEAN countries. The findings also indicate that the effects of energy consumption on economic growth are more significant than those of renewable energy in ASEAN. When considered together, these findings form a vicious circle regarding the energy–growth–emission nexus for the ASEAN economies. In addition, a bidirectional Granger causality among energy consumption, economic growth, CO2 emissions and renewable energy usage is confirmed.ConclusionsRenewable energy has emerged as an important viable option for the ASEAN nations to achieve their dual objectives of enhanced economic growth, reduced CO2 emission, leading to improved environmental quality.

Indonesia and ASEAN Chairmanship in 2023: Leading the Region in Strengthening Relations with China

Indonesia, the largest economy in Southeast Asia, plays a crucial role in the region and contributes significantly to the regional bloc's stability, economic growth, and diplomatic initiatives. The archipelago serves as a pivotal anchor within the Association of Southeast Asian Nations (ASEAN), stipulating political leadership and strategic direction over the years. Indonesia fosters trade and investment within the region, as seen from Indonesia's role in completing the Regional Comprehensive Economic Partnership (RCEP) negotiation, the largest free trade agreement in the world involving ASEAN and several trading partners such as China, Japan and South Korea (The ASEAN Secretariat, 2023). Indonesia promotes dialogue and cooperation to address regional challenges such as trans-boundary issues, security concerns, and environmental sustainability. Indonesia is also currently one of China’s most important partners in Southeast Asia. China is now Indonesia's largest trading partner and export market, with China's official data showing that in 2022 the bilateral trade reached $149.1 billion, up 19.8 percent year-on-year. In the same year, China was the second-largest source of investment in Indonesia in 2022, with $8.2 billion (Duqiang, 2023). In addition, China's Belt and Road Initiative (BRI) has played a major role in supporting infrastructure development in Indonesia. Both nations continue to engage in high-level diplomatic dialogue and seek common ground on various regional and global issues. This article attempts to show the role that Indonesia plays as it continues to show the way for other ASEAN countries to navigate economic challenges and, at the same time, forge stronger ties with China. This article also examines the bilateral relationship between Indonesia and China and how it affects Indonesia’s capability to lead other ASEAN countries, especially after Indonesia’s ASEAN Chairmanship in 2023.

The Status Quo, Dilemma, and Transformation Path of the Carbon Neutrality-Related Policy of the ASEAN

After joining the globalization initiative, countries from the Association of Southeast Asian Nations (ASEAN) have experienced an exponential growth in carbon emissions. The high carbon lock-in of the energy consumption structure and lagged energy infrastructure construction have led to high carbon emissions, which has put great pressure on ASEAN countries to reduce their carbon emissions. To achieve the goal of carbon neutrality by the middle of this century, ASEAN countries have successively formulated strategic guidelines for energy transformation and green development, focusing on the structural transformation of energy development and utilization, a coal decommissioning plan, grid interconnection, the electrification of urban transportation patterns, energy conservation, consumption reduction, and international technological cooperation. ASEAN countries still face many challenges in achieving their carbon neutrality targets, including unstable policies, poor environmental awareness among residents, poor guarantee for energy transformation, disconnection between technology and capital, and difficulties in regional coordination. These are reflected in the obvious carbon lock-in effect and the strong dependence on carbon in traditional industries. ASEAN countries are seeking a balance of interests in the Sino–US infrastructure game. In this context, China, as an advocate of South–South cooperation, is committed to expanding the cooperation with ASEAN countries on carbon neutrality in the following aspects: the development and utilization of renewable energy resources, formulation of a progressive grid interconnection plan, establishment of the green financial system, and research and development of green technologies. The purpose is to help ASEAN countries achieve their goals of carbon neutrality.

India’s Distinct but Opposing Patent Model Is Under Pressure: Prospects and Challenges in the Global Arena

The Indian patent model is a powerful and well-balanced model that not only complies with the requirements of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS Agreement) but also considers domestic needs and national interest. This study endorses India’s approach of fully availing itself of public health flexibilities provided in the TRIPS Agreement. India’s well thought out patent model contradicts with the pro-patentee approaches taken by the European Union, the USA and Japan. This study emphasises the challenges and pressures faced by the Indian patent model because of the closer harmonisation agenda being pushed by some high-income countries through bilateral and multilateral free trade agreements. This study argues that in order to effectively respond to harmonisation demands, India needs to be proactive in terms of building regional coalitions and transmitting its model to other like-minded Association of Southeast Asian Nations (ASEAN) countries with similar interests. This is a viable approach because most of the ASEAN countries, despite different levels of development and industry, are facing similar challenges in terms of universal access to affordable medicines.

Leading countries and research networks advancing clean production and environmental sustainability in Southeast Asia

PurposeThis study aims to assess the response of the Association of Southeast Asian Nations (ASEAN) to cleaner production and environmental sustainability, with a specific focus on identifying the leading countries and research networks driving these efforts.Design/methodology/approachA benchmarking academic journal was chosen, and the journal’s archive was comprehensively examined. To construct the data set, a conventional keyword search technique was applied in February 2023 to filter for ASEAN affiliations. The study used hybrid bibliometric analyses and multi-criteria decision analysis (MCDA) to analyze the collected data and address the research purpose.FindingsThe data analysis revealed a rising research trend, particularly after 2014. Malaysia had the most publications, followed by Thailand and Singapore, and their publications had the most cumulative citations among ASEAN countries. Research collaborations between Malaysia, Thailand and Singapore were frequent, but participation from other countries was low. The research topics on which ASEAN members focused were also identified, but it became apparent that there was little coordination. A scant few collaborations involving more than two countries were observed; thus, the MCDA analysis concluded that research leadership was absent in ASEAN countries.Originality/valueThis study contributes insights to the existing literature and offers a valuable overview of the research direction and collaboration status of cleaner production and environmental sustainability in the ASEAN region, thus benefiting policymakers. Additionally, this study introduces a novel approach combining bibliometrics analysis with MCDA to assess research collaboration, thus providing a novel methodology for future research policy evaluations.

Predictive Factors Associated with Survival in Female Gastric Cancer Patients in Southeast Asia.

Association of Southeast Asian Nations (ASEAN) countries have high Helicobacter pylori infections, and gastric cancer (GC) is a leading fatal cancer in this region, especially in female patients. This study aimed to compare clinical manifestations, histopathological subtypes, and prognostic factors associated with the overall survival rate of female GC patients in this important region. This retrospective cohort study was conducted between 2007 and 2022 at a tertiary care center in Thailand. All clinical information, endoscopic findings, and histological types were extensively reviewed. Furthermore, all qualified studies in ASEAN published in PubMed and Scopus between 2000 and 2022 were extracted and thoroughly analyzed. Young female GC patients are defined as those ≤50 years of age. A total of 98 Thai female GC patients were included, with a mean age of 58.99 ± 14 years; 70.4% were elderly women. The common presenting symptoms were weight loss (69.4%) and dyspepsia (68.4%). Younger female GC patients had significantly more common diffuse-type GC than elderly female GC patients (82.8% vs. 53.6%, p-value = 0.007). Moreover, elderly female GC patients demonstrated significantly better survival than younger female GC patients (44.8% vs. 20.7%, odds ratio = 3.49; 95% confidence interval: 1.20-10.14, p-value = 0.022). Furthermore, a total of 1,491 female GC patients from ASEAN were reviewed and included in this study, aged 15 to 93 years. The top three countries with the highest proportion of female GC from ASEAN were Indonesia (66.7%), Thailand (44.9%), and Singapore (38.4%). GC in women is not uncommon in ASEAN and presents at an advanced stage with a grave prognosis. This study showed that ASEAN countries with the highest disease burden were Indonesia, Thailand, and Singapore. Overall, survival rates for female GC patients in ASEAN countries were relatively low, highlighting the need for proactive measures such as intensive H. pylori eradication and the development of early detection methods for GC.

Healthcare Challenges in the Management of Primary Aldosteronism in Southeast Asia.

While guidelines have been formulated for the management of primary aldosteronism (PA), following these recommendations may be challenging in developing countries with limited healthcare access. Hence, we aimed to assess the availability and affordability of healthcare resources for managing PA in the Association of Southeast Asian Nations (ASEAN) region, which includes low-middle-income countries. We instituted a questionnaire-based survey to specialists managing PA, assessing the availability and affordability of investigations and treatment. Population and income status data were taken from the national census and registries. Nine ASEAN country members (48 respondents) participated. While screening with aldosterone-renin-ratio is performed in all countries, confirmatory testing is routinely performed in only six countries due to lack of facilities and local assays, and cost constraint. Assays are only locally available in four countries, and some centers have a test turnaround time exceeding three weeks. In seven countries (combined population of 442 million), adrenal vein sampling (AVS) is not routinely performed due to insufficient radiological facilities or trained personnel, and cost constraint. Most patients have access to adrenalectomy and medications. In six countries, the cost of AVS and adrenalectomy combined is >30% of its annual gross domestic product per capita. While most patients had access to spironolactone, it was not universally affordable. Large populations currently do not have access to the healthcare resources required for the optimal management of PA. Greater efforts are required to improve healthcare access and affordability. Future guideline revisions for PA may need to consider these limitations.

Unveiling the landscape of Fintech in ASEAN: assessing development, regulations, and economic implications by decision-making approach

Fintech has gained immense importance as a catalyst for economic growth, trade enhancement, and global prosperity. This study aims to comprehensively assess the influence and potential of Fintech in the Association of Southeast Asian Nations (ASEAN) countries. The research objective is to evaluate the levels of development in financial activities, technology infrastructure, and Fintech-enabling regulations across the region. A robust decision-making framework combining numerical and linguistic assessments is applied, utilizing the Distance-based CRiteria Importance Through Inter-criteria Correlation (DCRITIC) method and the Fuzzy extension of Evaluation based on Distance from Average Solution (F-EDAS approach). The findings reveal varying levels of development among ASEAN countries about Fintech. Governments and policymakers are urged to prioritize the creation of a supportive environment for Fintech innovation to spur economic growth, attract investments, and foster digital transformation. The study is limited because the weights of the key regulations have not been investigated.

Some Trends in the Development of Regional Integration Processes in Southeast Asia in the 2020s.

This study discusses the long-term impact of the newly created institutions of the Indo-Pacific region (IPR) on the main regional integration institution of Southeast Asia (SEA), the Association of Southeast Asian Nations (ASEAN), and assesses the consequences of the implementation of the IPR concept by ASEAN countries.Aim . Determine the main trends in the development of regional integration processes in Southeast Asia in the 2020s. in the context of the Indo-Pacific process.Tasks. Determine the role of SEA countries in the Indo-Pacific process; identify the nature of the influence of AUKUS on the development trends of the regional security architecture of SEA; establish the impact of the Indo-Pacific Economic Framework (IPEF) on the sustainable economic development of SEA countries.Methods. The methodological basis of this study is based on general scientific methods (system analysis, forecasting), political science methods, approaches to the analysis of regional security complexes existing in international relations studies (B. Buzan [3], O. Waver [5], J. De Wilde [4], A. Acharya [2]) and to the analysis of regional economic integration and its stages (J. Pelkmans [10]).Results . The inclusion of ASEAN countries in the Indo-Pacific process initiated by the United States of America (USA) and its allies in the future in 2030 leadsto 1) an increase in military spending, which may indicate a reduction in the level of trust in the region, 2) a reduction in the rate of convergence of the economies of Southeast Asian countries, which may indicate a growing imbalance in the level of development of ASEAN countries.Conclusions . The implementation of the IPR concept by ASEAN countries leads to the erosion of the “ASEAN-centricity” of regional institutions in the Asia-Pacific region, as well as to the projected reduction in the effectiveness of ASEAN in achieving the goals of a regional integration institution, namely: 1) an increase in military spending in the countries of the Asia-Pacific region in the 2020s, including in the ASEAN countries, indicating about the declining level of trust in relations with the PRC, leading to a decrease in the effectiveness of ASEAN diplomatic mechanisms to resolve existing disputes with China over the South China Sea; 2) the pace of catching-up development of poor Southeast Asian countries in the 2020s. are reduced, the implementation of IPEF will only be able to ensure some uneven economic growth in the most developed countries of Southeast Asia, it is becoming increasingly difficult for poor countries to catch up with the more developed countries of Southeast Asia in their level of economic development, and ASEAN’s goal of ensuring equitable economic development is becoming less achievable.

Factors affecting environmental pollution for green economy: The case of ASEAN countries

Although environmental pollution affects the earth's atmosphere and increases the seawater level, these issues get little attention from policymakers and scientists. This academic paper explores the multifaceted factors contributing to environmental pollution in the member states of the Association of Southeast Asian Nations (ASEAN). Environmental pollution is a growing concern globally, and ASEAN, a region undergoing rapid economic development, faces unique challenges in mitigating its impact. Therefore, there needs to be more research in analyzing the factors that affect environmental pollution. This paper aims to test the determinants affecting ecological pollution for the green and sustainable economy in the ASEAN countries. This paper used the data from Word Bank for the period 2000–2020 in 09 ASEAN countries such as Vietnam, Laos, Cambodia, Myanmar, Indonesia, Malaysia, Thailand, Brunei and Singapore. The paper uses the unrestricted fixed and random panel data method. The STATA software 17.0 is used in the research and processes the regression model. The article reviews existing literature, statistical data, and case studies to identify and analyze key factors influencing environmental pollution in ASEAN countries. The new contribution of this research is that ASEAN countries are paying more attention to importing green products to develop a green and sustainable economy. The study considers various dimensions: industrialization, urbanization, agricultural practices, policy effectiveness, and socioeconomic factors. By understanding these factors, policymakers and stakeholders can develop targeted strategies to address and mitigate the environmental pollution crisis in the ASEAN region.

Leveraging Green Bonds to Address Debt Sustainability and Economic Recovery in South Asia: Lessons from EU and ASEAN Countries

This paper intends to analyze how green bond markets can address debt sustainability and post-COVID-19 economic recovery in South Asia and draws lessons from the European Union (EU) and Association of Southeast Asian Nations (ASEAN) countries using desk approach and survey of grey literature. The study reveals that COVID-19 crisis induced the European governments to launch innovative bonds such as social and sustainability bonds to meet large public finances for pandemic and post-pandemic recovery actions, while issuance of green bonds in ASEAN region has been quite slow but remained positive despite declining trend in global market in 2020. Robust policies and regulations have been developed and implemented in the EU and ASEAN regions, whereas development of green bond markets in South Asian countries has been facing numerous barriers. The roadmap to promote green bond markets in South Asia should focus on following broad policy issues: primary policies, established instruments, innovative products and new strategies. The primary policy options should focus on building and strengthening infrastructure for development of green bond markets. In this context, the policies should focus on developing a shelf of climate-compatible green projects to achieve inclusive and sustainable post-COVID-19 recovery and to meet the sustainable development goals. Local bond markets should be bolstered to issue innovative green bonds and tactical public green bonds to finance the post-COVID-19 recovery in South Asian countries. The compatible EU and ASEAN green bond standards should be replicated with suitable modifications to develop South Asian country-specific green and sustainable bond standards.

Examining Policy Strategies for Electrifying Transportation in ASEAN: A STEELUP Framework Evaluation

With the recent emphasis on carbon neutrality following COP27, many countries prioritise shifting to electric mobility as a crucial strategy to combat carbon emissions. A significant portion of this comes from transportation. Notably, countries such as Norway, China, and the United States have taken the lead in the electric vehicle (EV) industry, driven by their effective e-mobility policies. In contrast, the 10 member nations of the Association of Southeast Asian Nations (ASEAN) are still in the early stages of adopting this emerging trend. This paper conducts a comprehensive evaluation of the current e-mobility policies within the ASEAN region, employing the STEELUP (Sociocultural and demographic, Technological, Economic, Environmental, Legislative, Urban design, and Political) framework to provide a holistic perspective on the e-mobility landscape in the ASEAN countries. By critically assessing the implementation of e-mobility policies in each country, this paper aims to identify key gaps and challenges that hinder the acceleration of EV adoption in the region. The findings from the STEELUP framework, coupled with a thorough analysis of the current conditions in ASEAN, provide crucial insights for governments and policymakers to act upon. Through evidence-based recommendations, this study concludes by suggesting effective strategies to expedite the uptake of EVs in the ASEAN region.

Circular economy strategies in the ASEAN region: A comparative study

Circular Economy (CE) is a sustainable development paradigm that promotes resource efficiency, closed-loop systems, and waste reduction to minimize environmental impacts while fostering economic growth; its popularity is rising at a global scale since the negative effects of linear consumption patterns become more apparent. In this direction, the ASEAN (Association of South East Asian Nations) countries have shown a rising interest in CE due to the region's rapid economic growth and urbanization led to increasing resource consumption and waste generation, which makes CE imperative to safeguard their natural resources and ecosystems. The methodology assessed and compared CE policy documents and academic sources, focusing on excellence and expected impacts, excluding obsolete policies. As the foremost finding, this work provides a comprehensive assessment of the CE strategies comparing the ten ASEAN countries for understanding the current direction of circularity across the region, which is insufficient, although the need for a CE is understood and numerous policy strategies are currently in the work or pending to be approved; Vietnam is the most promising nation for CE implementation. Brunei, Laos, and Myanmar are the most stagnant, while the rest of the countries are progressing adequately. First, this paper introduces the most critical environmental issues across the ASEAN region and briefly describes the concept of CE. Secondly, it assesses the most up-to-date and remarkable CE policies of each nation. Thirdly, it discusses how CE can address their challenges to be catalyzed into opportunities, comparing the ten states considering their CE advancements. This work will be interesting for foreign investors, the general public, Academia, and policymakers.

Financial development, energy consumption, and economic growth in the ASEAN countries: evidence from the PVAR approach.

The Association of Southeast Asian Nations (ASEAN), a new global economic force, has struggled to achieve a dual objective of enhanced economic growth and improved environmental quality. Financial development is generally considered an important tool in achieving these simultaneous objectives. This paper examines the response mechanism and the inter-relationship between the ASEAN region's financial development, energy consumption, and economic growth. Unlike previous studies, the paper uses a generalized method of moments panel vector autoregression (GMM-panel VAR) framework for the 1981-2021 period. The second-generation Granger causality test is used to identify their causality relationship. Economic growth supports financial development and reduces energy consumption from fossil fuel sources in the ASEAN countries. Financial development also reduces fossil fuel energy consumption. The bi-directional relationship between economic growth and fossil fuel energy consumption exists. Energy consumption and financial development are also bi-directionally linked. However, only the unidirectional Granger causality from economic growth to financial development is found. The variance decomposition analysis results confirm that economic growth accounts for the most significant variance in fossil fuel energy consumption and financial development in the ASEAN countries. Policy implications have emerged based on these findings.