International trade competitiveness of emerging ASEAN5+4 countries

This paper investigates significant factors that improve international trade competitiveness of ASEAN5+4 countries. Due to worldwide liberalization and globalization policies which promote borderless flow of capital and goods, international trade is vital to the development of emerging nations in attracting investments and facilitating expansion. Results from this study uncover that exchange rate and economic growth play very significant role in improving trade competiveness and escalating cross-border trade. Inflation rate significantly affects India and the Philippines, while stock market only marginally affects trade of India and Singapore. Additionally, growth in population affects developed nations negatively as in Japan and Singapore but positively on the Philippines. This study provides policy propositions to developed and developing nations in the region on strategies to improve competitiveness, expand international trade and further enhance economic growth.