Cassey Lee

The Journal of Southeast Asian Economies (JSEAE) is a peer-reviewed journal focusing on economic issues pertaining to countries in the region – defined as the ten members of the Association of Southeast Asian Nations (ASEAN) and East Timor. JSEAE welcomes articles using orthodox economic approaches as well as those of a more heterodox nature. Oriented at both researchers and policy-makers, the journal seeks to reconcile the ideals of relevance, methodological rigour, and accessibility. Published by the ISEAS – Yusof Ishak Institute tri-annually, JSEAE includes: articles based on original research; research notes; review articles; and book reviews. Once a year, the Journal publishes a Special Issue devoted entirely to a topic of import for the region. Up until April 2013, JSEAE was published as the ASEAN Economic Bulletin (AEB). However, following new developments in the regional and global context, as well as the establishment of new multi-lateral trading agreements including countries in the region, the Directorship of ISEAS and AEB’s Editorial Board decided to change the journal’s name. While its name has changed, JSEAE remains committed to being the premier economic journal for Southeast Asian academicians and policy-makers, as well as anyone with an interest in the region. All research articles in the journal have undergone rigorous peer-review. The process consists of initial screening by the Co-Editors and Associate Editor, followed by double-blind refereeing; two reviewers for articles and one reviewer for research notes.

The Journal of Southeast Asian Economies (JSEAE) is a peer-reviewed journal focusing on economic issues pertaining to countries in the region – defined as the ten members of the Association of Southeast Asian Nations (ASEAN) and East Timor. JSEAE welcomes articles using orthodox economic approaches as well as those of a more heterodox nature. Oriented at both researchers and policy-makers, the journal seeks to reconcile the ideals of relevance, methodological rigour, and accessibility. Published by the ISEAS – Yusof Ishak Institute tri-annually, JSEAE includes: articles based on original research; research notes; review articles; and book reviews. Once a year, the Journal publishes a Special Issue devoted entirely to a topic of import for the region. Up until April 2013, JSEAE was published as the ASEAN Economic Bulletin (AEB). However, following new developments in the regional and global context, as well as the establishment of new multi-lateral trading agreements including countries in the region, the Directorship of ISEAS and AEB’s Editorial Board decided to change the journal’s name. While its name has changed, JSEAE remains committed to being the premier economic journal for Southeast Asian academicians and policy-makers, as well as anyone with an interest in the region. All research articles in the journal have undergone rigorous peer-review. The process consists of initial screening by the Co-Editors and Associate Editor, followed by double-blind refereeing; two reviewers for articles and one reviewer for research notes.

The confluence of technological innovations in computation and communications has expanded the scope and increased the intensity of algorithmic applications in markets. Policymakers and regulators are increasingly concerned about tacit collusion among sellers using algorithmic pricing in concentrated markets driven by digital platforms with network effects. Indonesia’s competition regulators have expressed similar concerns and noted the need for a greater understanding of the impact of algorithmic pricing, including the detection of anti-competitive business practices.

The Journal of Southeast Asian Economies (JSEAE) is a peer-reviewed journal focusing on economic issues pertaining to countries in the region – defined as the ten members of the Association of Southeast Asian Nations (ASEAN) and East Timor. JSEAE welcomes articles using orthodox economic approaches as well as those of a more heterodox nature. Oriented at both researchers and policy-makers, the journal seeks to reconcile the ideals of relevance, methodological rigour, and accessibility. Published by the ISEAS – Yusof Ishak Institute tri-annually, JSEAE includes: articles based on original research; research notes; review articles; and book reviews. Once a year, the Journal publishes a Special Issue devoted entirely to a topic of import for the region. Up until April 2013, JSEAE was published as the ASEAN Economic Bulletin (AEB). However, following new developments in the regional and global context, as well as the establishment of new multi-lateral trading agreements including countries in the region, the Directorship of ISEAS and AEB’s Editorial Board decided to change the journal’s name. While its name has changed, JSEAE remains committed to being the premier economic journal for Southeast Asian academicians and policy-makers, as well as anyone with an interest in the region. All research articles in the journal have undergone rigorous peer-review. The process consists of initial screening by the Co-Editors and Associate Editor, followed by double-blind refereeing; two reviewers for articles and one reviewer for research notes.

The 14th general election in May 2018 brought about an unexpected change in political rule in Malaysia for the first time since the country's independence in 1957. In its first year of rule, the new Pakatan Harapan‐led government implemented several populist economic policies that were drawn from its election manifesto. While these policies may have moderated populist politics to some extent, they have also weakened the government's fiscal capacity. Ethnic fragmentation and a strengthened opposition alliance have also made it difficult for the new government to implement its ambitious institutional reform agenda.

This paper reviews the recent (post‐2000) literature that assesses the importance of institutions as a factor determining cross‐country differences in growth rates or in the contemporary level of “prosperity.” It first sketches how institutional economics has evolved. It then examines critically the methods of analysis employed in the recent literature. The paper finds that this literature has made a major contribution to the analysis of the causes of economic growth but the relative importance of institutions as a determinant of long‐run growth and prosperity is still a wide open question.