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Trade and Investment Convergence Clubs in East Asia Pacific

Sonia Kumari Selvarajan · Rossazana Ab-Rahim · Nor-Ghani Md-Nor ·Institutions and Economies ·2018 ·JEL: F13; O16; O53

East Asia Pacific has catapulted to be the most dynamic region in the world as a result of economic liberalisation and sustainable growth. This study seeks to investigate if selected East Asian countries are able to converge in terms of trade and investment openness. This paper uses the concept of Phillips and Sul to evaluate trade and investment convergence in East Asia Pacific region during the period 1990 to 2016. The overall results do not support the hypothesis that all countries converge on a single equilibrium in trade and investment liberalisation. However, findings point to the existence of club convergence.

trade openness Convergence Club Catch-up Effect East Asia Pacific
Pharmaceutical Policy Reforms to Regulate Drug Prices in the Asia Pacific Region: The Case of Australia, China, India, Malaysia, New Zealand, and South Korea

Syed Shahzad Hasan · Chia Siang Kow · Dalia Dawoud · Omneya Mohamed · Darrin Baines · Zaheer-Ud-Din Babar ·Value in Health Regional Issues ·2018

Medicine price directly affects affordability and access to medicines particularly in countries where a major portion of pharmaceutical spending is through out-of-pocket payment, such as in the Asia Pacific region. We have undertaken a detailed appraisal of the pharmaceutical policy reforms to regulate drug prices in 3 developed (Australia, New Zealand, and South Korea) and 3 emerging (China, India, and Malaysia) economies of the Asia Pacific region. Despite continuous efforts by the authorities in adopting a wide range of reformatory pharmaceutical pricing policies to ensure affordability of medicines, these policies may not be optimal where drug prices were not lowered as expected (eg, in Korea). On the contrary, considerable price reductions of various pharmaceuticals have been observed in New Zealand and India because of the reform in pharmaceutical pricing policy. This review of pharmaceutical pricing reforms reinforces the need for constant monitoring by policy makers in Asia Pacific countries to regulate drug prices and to undertake reform in pharmaceutical pricing policies when necessary to ensure affordability and access to medicines.

access affordability Asia Pacific pharmaceutical policy pricing.

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