Asean Economic Community

We conduct a qualitative literature review on Indonesia's proposed Bond Stabilisation Fund (BSF), synthesising international evidence to assess its viability and risks. The BSF is intended as a liquidity backstop to protect government bond markets from volatility. Our review draws on academic studies and policy reports (2020-2026) to identify theoretical rationales, practical design issues, and historical precedents. We find that while BSFs can reduce short-term yield spikes, they carry significant risks of market distortion and moral hazard. For example, interventions may undercut price signals and encourage excessive borrowing. Crucially, the effectiveness of a BSF depends on precautionary design: activation triggers tied to acute crises, punitive pricing to discourage casual use, strict eligibility (e.g. viability tests, no payouts) and clear exit strategies. Case studies (Thailand's unused BSF, Korea's reactivated fund) illustrate that overly restrictive conditions can render a BSF ineffective, whereas too lax policies invite abuse. Our key recommendation is that Indonesia should treat the BSF as a true lastresort tool: it should be well-capitalised but only deployed under severe market stress, with legislative guardrails to limit size and duration. Under these guidelines, a BSF can enhance debt-market stability without creating permanent fiscal risks or encouraging irresponsibility.

Integrasi kawasan melalui Masyarakat Ekonomi ASEAN (MEA) membawa konsekuensi serius terhadap sistem penyelesaian sengketa ketenagakerjaan di Indonesia, khususnya dalam hal kesiapan Pengadilan Hubungan Industrial (PHI) menghadapi kompleksitas hubungan industrial yang semakin berdimensi lintas batas. Penelitian ini bertujuan menganalisis efektivitas PHI dalam menyelesaikan sengketa ketenagakerjaan di era MEA, mengidentifikasi hambatan struktural dan normatif yang membatasi kapasitasnya, serta merumuskan model penguatan kelembagaan yang adaptif terhadap standar hukum ketenagakerjaan ASEAN. Metode yang digunakan adalah penelitian kualitatif dengan pendekatan library research melalui analisis bahan hukum primer, sekunder, dan tersier secara sistematis. Hasil kajian menunjukkan bahwa meskipun PHI telah memberikan kontribusi signifikan dalam menciptakan kepastian hukum, lembaga ini masih menghadapi hambatan serius berupa penumpukan perkara, keterbatasan mediator, kesenjangan aksesibilitas, serta ketidakselarasan regulasi dengan standar ILO dan ASEAN. Model penguatan yang direkomendasikan mencakup integrasi mekanisme restorative justice, digitalisasi prosedur, harmonisasi regulasi lintas batas, serta peningkatan kompetensi sumber daya manusia yudisial. Reformasi komprehensif ini dinilai mendesak untuk memposisikan PHI sebagai institusi peradilan ketenagakerjaan yang kredibel dan kompetitif di tingkat regional ASEAN.

This paper presents the Global Vital Resources Currency (GVRC), a sovereign digital reserve asset backed 100% by four essential real-world resources: sustainable water, stored renewable energy, green critical minerals, and sovereign AI computing efficiency.
Designed to address the interconnected crises of freshwater scarcity, renewable energy storage, strategic mineral shortages, and the lack of a credible real-value reserve since 1971, GVRC employs a fixed core unit equation and a strict weakest-link issuance rule that structurally guarantees zero inflation by design.
Each GVRC unit is composed of 35% water, 30% renewable energy, 20% critical minerals, and 15% sovereign AI efficiency, with the latter measured objectively through FLOPS/Watt. The system features multi-layered governance, quantum-resistant cryptography, and independently audited resource baselines.
Monte Carlo simulations (200,000 scenarios) project a base-case market capitalization of USD 26–38 trillion by 2040, alongside significant environmental and geopolitical benefits: 3.1–3.4 Gt annual CO₂ reduction, enhanced freshwater access for three billion people, and a 72–78% reduction in resource-related conflict probability.
Fully compliant with Basel III/IV, FATF, and OECD standards, GVRC is positioned as a complementary green reserve asset to existing national currencies, with a pathway for future inclusion in the IMF Special Drawing Rights basket.
The framework is explicitly conceived as complementary to — rather than a replacement of — existing national and reserve currencies

Webinar on Islamic Finance Landscape in Indonesia: Growth, Regulation & Opportunities for Global Partnerships presented "Overview of Islamic Finance in Indonesia: The Position of Islamic Microfinance and Islamic Nano Finance" with agenda: (1) Overview of Islamic Finance in Indonesia (Islamic Banking, Islamic Non-Bank Financial Institutions, and Islamic Capital Markets); (2) Islamic Microfinance, the Backbone of the Indonesian Economy (?); (3) Islamic Nano Finance, a Hybrid Economic Model, for Ultra-Micro-Scale People.

This paper examines the evolution of environmental and ecological taxation in the People's Republic of China (PRC), tracing the transition from a "command-and-control" regulatory model to a sophisticated, market-based legal framework centered on the 2018 Environmental Protection Tax (EPT) Law. While the current regime successfully targets air, water, solid waste, and noise pollution, significant gaps remain regarding carbon emissions, plastics, and road congestion. Drawing on international comparisons from the European Union's centralized price signals and the United States' incentive-based model, the study argues for the introduction of a revenueneutral carbon tax to complement China's National Emissions Trading Scheme (ETS). Such a tax is projected to yield "quadruple dividends" by combating climate change, reducing local pollution, improving public health, and enhancing economic efficiency through the replacement of distortionary enterprise taxes. Ultimately, the paper outlines an integrated policy architecture aligned with the 15th Five-Year Plan (2026-2030), emphasizing the strategic use of carbon taxation to ensure international competitiveness-particularly as a defense against the EU's Carbon Border Adjustment Mechanism (CBAM)-while facilitating China's transition to a sustainable, green economy.

หนังสือเล่มนี้เสนอว่า ความคิดทางการคลังของปรีดีควรถูกทำความเข้าใจในฐานะส่วนหนึ่งของโครงการทางการเมือง (political project) ภายหลังการอภิวัฒน์ 2475 กล่าวคือ การคลังในความคิดของปรีดีมิได้มีสถานะเป็นเทคนิคในการหารายได้หรือใช้จ่ายของรัฐ หากเป็นองค์ความรู้และเครื่องมือในการจัดระเบียบรัฐขึ้นใหม่ โดยมุ่งเปลี่ยนบทบาทของรัฐ จากรัฐที่รวบรวมทรัพยากรเพื่อค้ำจุนโครงสร้างอำนาจตามระบอบสมบูรณาญาสิทธิราชย์ ไปสู่รัฐที่มีภารกิจบำรุงความสมบูรณ์ของราษฎร จัดสรรทรัพยากรใหม่ และจัดระเบียบเศรษฐกิจเพื่อประโยชน์สาธารณะ ภายใต้ขอบฟ้าความรู้ของวิทยาการคลังสมัยใหม่

Health communication using social media platforms has become a vital catalyst for modern global health implementation strategies. However, existing literature focused on the impact of digital intervention on the sexual and reproductive health (SRH) of the general population. This qualitative research examines the impact of social media-based health intervention programs on SRH of young Burmese adults, aged 18 to 34 years, residing in the Bangkok metropolitan region. Based on the transnational theory, this research explored how digital engagement with one's homeland improves SRH knowledge, behavior, and reproductive health-seeking practices. This research employed an exploratory qualitative design; the participants were purposively recruited from an active Burmese migrant Facebook community, and virtual in-depth interviews were conducted with (n=15) participants with diverse gender and demographic representation. The thematic analysis was done to align with the transnational framework. The data revealed that digital intervention on the Facebook platform effectively promotes SRH knowledge and transforms positive attitudes and practices. Participants highlighted their preferences for Myanmar-based sources affiliated with medical professionals. These programs are effectively addressing SRH stigma, particularly among the younger generation. The findings revealed a significant knowledge-access gap that limits the translation of perceived knowledge into formal service utilization in Bangkok regions, exacerbated by encountered linguistic, informational, and administrative barriers. Subsequently, migrants rely on alternative transnational digital pathways to overcome these structural challenges. Despite the mentioned advantages, digital interventions cannot cover the entire Burmese migrant population. To conclude, this study indicated that transnational digital engagement enhanced the flow of SRH knowledge and behavioral transition, while its effectiveness was limited by the intersection of migrant's vulnerabilities. This study advocates for a hybrid intervention, linking both online and offline approaches in designing culturally competent, comprehensive, migrant-friendly SRH services. Reducing administrative and language barriers to augment equitable SRH accessibility for all young Burmese migrants. Collaboration with Myanmar sources to generate health utilization is also recommended.

Leadership is a critical factor in determining the effectiveness of governance, public service delivery, and local development in decentralized political systems. Across Southeast Asia, countries such as the Philippines, Thailand, Indonesia, Cambodia, and Timor-Leste have experienced decentralization reforms that have expanded the responsibilities of local governments in managing development programs and delivering essential public services.
Although there is a growing body of research on local governance, decentralization, and public service delivery in Southeast Asia, existing studies remain fragmented across countries, sectors, and governance contexts. Much of the available literature emphasizes quantitative indicators of local government performance, while less attention has been given to qualitative evidence on how leadership capacity is practiced, negotiated, and experienced by local officials, administrators, frontline service providers, and community stakeholders.
There is also limited synthesis of qualitative research explaining how leadership interacts with institutional arrangements, political conditions, administrative capacity, citizen participation, and resource constraints in shaping local governance outcomes. As a result, the role of leadership in decentralized local government systems remains insufficiently integrated across the Southeast Asian literature.
This review addresses that gap by systematically synthesizing qualitative evidence on leadership and governance in local government institutions. It aims to identify leadership practices, governance mechanisms, service delivery challenges, and contextual factors that influence local government effectiveness.
The findings are expected to contribute to comparative local governance scholarship and provide practical insights for leadership capacity development, decentralization reform, public administration improvement, and local development policy in Southeast Asia.

Leadership is a critical factor in determining the effectiveness of governance, public service delivery, and local development in decentralized political systems. Across Southeast Asia, countries such as the Philippines, Thailand, Indonesia, Cambodia, and Timor-Leste have experienced decentralization reforms that have expanded the responsibilities of local governments in managing development programs and delivering essential public services.
Although there is a growing body of research on local governance, decentralization, and public service delivery in Southeast Asia, existing studies remain fragmented across countries, sectors, and governance contexts. Much of the available literature emphasizes quantitative indicators of local government performance, while less attention has been given to qualitative evidence on how leadership capacity is practiced, negotiated, and experienced by local officials, administrators, frontline service providers, and community stakeholders.
There is also limited synthesis of qualitative research explaining how leadership interacts with institutional arrangements, political conditions, administrative capacity, citizen participation, and resource constraints in shaping local governance outcomes. As a result, the role of leadership in decentralized local government systems remains insufficiently integrated across the Southeast Asian literature.
This review addresses that gap by systematically synthesizing qualitative evidence on leadership and governance in local government institutions. It aims to identify leadership practices, governance mechanisms, service delivery challenges, and contextual factors that influence local government effectiveness.
The findings are expected to contribute to comparative local governance scholarship and provide practical insights for leadership capacity development, decentralization reform, public administration improvement, and local development policy in Southeast Asia.

This research analyzes the interdependent relationship between the administration of development and development of administration through collaborative partnerships, proposing a framework for multi-stakeholder engagement in Thailand's southern border provinces. Utilizing a qualitative design, the study conducted a documentary analysis of academic literature, policy frameworks, and digital data (2017-2025). The research was purposively scoped to the region's multicultural context, focusing on the tripartite collaboration between higher education institutions (HEIs), local administrative organizations (LAOs), and private sector. Data were processed using content and constant comparative analysis through a two-stage methodology: theoretical triangulation of Fred W. Riggs' dual dimensions of development administration and conceptual synthesis of collaborative partnership and collective impact principles. The findings reveal that driving HEIs in this sensitive region necessitates a dual-track approach. First, the administration of development requires universities to transition from "ivory towers" to "development partners," engaging in collaborative fieldwork to achieve sustainable development goals (SDGs), which emphasize collaborative partnership administration (SDG 17) to achieve equity in multicultural societies. Second, the development of administration positions universities as "targets of development," emphasizing institutional capacity building and the elimination of bureaucratic rigidity as prerequisites for success. Consequently, the study constructs a "synergy framework" for collaborative partnerships, highlighting the university's role as a "facilitative lead" or "backbone organization" to bridge mistrust in multicultural societies. Critical elements for systemic synergy include establishing a shared vision for collective impact, implementing integrated mechanisms such as joint committees to synchronize resources, and employing inclusive leadership to foster social capital and shared ownership within vulnerable communities.

This literature review examines how Indonesian Small and Medium Enterprises (SMEs) are transforming their marketing strategies in response to the rise of digital technologies. Focusing on peer-reviewed studies published between 2018 and 2024, the paper synthesizes key findings on the adoption of digital marketing tools among SMEs across different regions in Indonesia. The review highlights commonly used platforms such as Instagram, WhatsApp Business, Shopee, and Tokopedia, as well as emerging trends in influencer marketing, live commerce, and short-form video content. Despite increasing adoption, many SMEs still face critical challenges, including limited digital literacy, inadequate infrastructure in rural areas, and financial constraints that hinder effective and sustainable implementation. Furthermore, the lack of strategic integration and long-term planning often results in fragmented digital efforts. The study also identifies several enabling factors, including government programs like "UMKM Go Digital," platform-based seller education, and expanding mobile internet penetration. These findings contribute to a more comprehensive understanding of Indonesia's SME digital landscape and suggest that a combined approach, strengthening internal capabilities while enhancing external ecosystem support essential for accelerating inclusive digital marketing transformation.

Global climate change demands that every country accelerate decarbonization measures, including Indonesia, which is committed to achieving Net Zero Emissions by 2060. One potential mitigation strategy is the implementation of Carbon Capture Storage (CCS) and Carbon Capture Utilization and Storage (CCUS) technology in the oil and gas sector. However, the implementation of CCS/CCUS in Indonesia still faces significant legal and institutional challenges. This study aims to analyze the normative, institutional, and policy barriers to CCS/CCUS implementation and to formulate an ideal legal framework to support decarbonization projects in the oil and gas sector. The method used is normative legal research with legislative, conceptual, and comparative approaches. The results show that the absence of lex specialis related to CCS/CCUS causes legal uncertainty, especially in the aspects of licensing, post-carbon storage environmental responsibilities, and legal protection for investors. In addition, overlapping authorities between the Ministry of Energy and Mineral Resources, the Ministry of Environment and Forestry, and the Upstream Oil and Gas Regulatory Special Task Force (SKK Migas) weaken the effectiveness of supervision. Therefore, the establishment of specific regulations and integrated institutions is needed to govern the implementation of CCS/CCUS, including establishing a liability regime and economic incentive mechanisms. Therefore, the formulation of a comprehensive CCS/CCUS legal framework is a key prerequisite for the success of decarbonization projects in the oil and gas sector in Indonesia.

Pendidikan Anak Usia Dini (PAUD) merupakan fondasi penting dalam pembangunan sumber daya manusia dan menjadi perhatian dalam kebijakan pendidikan global. Artikel ini bertujuan untuk mengkaji peran organisasi internasional serta kebijakan manajemen PAUD di beberapa negara maju. Metode yang digunakan adalah studi literatur dengan menganalisis berbagai sumber akademik dan laporan lembaga internasional. Hasil kajian menunjukkan bahwa organisasi internasional seperti UNESCO dan UNICEF memiliki peran penting dalam mendorong pengembangan kebijakan, standar kualitas, serta perluasan akses pendidikan anak usia dini secara global. Selain itu, negara maju seperti Finland, Jepang, Selandia Baru, dan Inggris telah mengembangkan sistem manajemen PAUD yang komprehensif melalui regulasi nasional, kurikulum yang jelas, standar tenaga pendidik, serta dukungan pembiayaan yang memadai. Kebijakan tersebut menunjukkan bahwa PAUD dipandang sebagai investasi jangka panjang dalam meningkatkan kualitas pendidikan dan kesejahteraan masyarakat.

Buku Ibu Tunggal dan Kesejahteraan Anak: Perspektif Kesehatan Masyarakat menghadirkan kajian mendalam tentang kehidupan ibu tunggal dan anak-anak mereka dalam konteks sosial, ekonomi, pendidikan, dan kesehatan. Berdasarkan data terkini, buku ini menyoroti tren meningkatnya jumlah ibu tunggal di Indonesia dan dampak berbagai tantangan yang mereka hadapi, mulai dari keterbatasan ekonomi, stigma sosial, hingga kesulitan akses layanan kesehatan dan pendidikan anak.

Melalui analisis komprehensif dan studi kasus inspiratif, buku ini menunjukkan bagaimana ibu tunggal mampu mengembangkan strategi kreatif untuk mengelola rumah tangga, mendidik anak, dan menjaga kesejahteraan keluarga meski menghadapi keterbatasan. Berbagai intervensi yang berhasil seperti program pemberdayaan ekonomi, literasi kesehatan, dukungan psikososial, dan kolaborasi komunitas dijelaskan secara rinci untuk menjadi acuan praktik terbaik bagi masyarakat, LSM, dan pemerintah.

Buku ini juga menghadirkan rekomendasi praktis bagi pemerintah, komunitas, LSM, dan praktisi kesehatan masyarakat untuk menciptakan ekosistem dukungan yang holistik dan berkelanjutan, memastikan ibu tunggal dapat memberdayakan diri, dan anak-anak tumbuh sehat, cerdas, serta resilien. Ditulis oleh para ahli di bidang kesehatan masyarakat dan pemberdayaan sosial, buku ini menjadi sumber referensi penting bagi akademisi, praktisi, pembuat kebijakan, dan siapa pun yang peduli pada kesejahteraan keluarga dan pembangunan sosial inklusif.

Introduction: The adoption of regulatory Sandbox Hospitals in the Association of Southeast Asian Nations (ASEAN) region presents a unique opportunity for innovation and improves healthcare delivery. Sandbox Hospital is a conceptual health facility offering a wide range of medical services while fostering research and innovation within the healthcare facility. Objective: This scoping review aims to identify and analyse the key success determinants of regulatory Sandbox Hospital adoption within the ASEAN context. Methods: Utilizing the PRISMA-ScR guidelines, a comprehensive search was conducted across various databases. Result: A total of 45 literatures were obtained, revealing notable variations in the implementation processes and practices of Sandbox Hospitals among ASEAN countries, highlighting the diverse contexts and healthcare needs across the region. Discussion: Key success factors identified include robust policy frameworks, strong institutional readiness, a vibrant innovation ecosystem, strategic technology investments, continuous learning, and effective scaling up. Policies and entrepreneurs play crucial roles in navigating the political and administrative landscapes that influence adoption. Technological readiness, including interoperability, digital maturity, and cybersecurity, is vital for maintaining sandbox integrity. Conclusion: Policy support, institutional capacity, stakeholder engagement, and cultural context significantly influence the implementation and outcomes of Sandbox Hospitals across ASEAN.

In the context of digital transformation and the rapid development of artificial intelligence, the legal profession is facing significant changes, particularly in the field of online legal consulting. This article approaches the issue from a practical perspective, focusing on analyzing the skills required for legal practice in the 4.0 era, with a focus on online legal consulting and the use of artificial intelligence. Based on identifying the benefits and risks of applying AI in legal consulting, the article clarifies the challenges related to client data confidentiality and the professional responsibilities of lawyers in the digital environment. Through this, the article emphasizes that the ability to use AI is not just about leveraging technology, but primarily about controlling the risks created by technology. Based on practical experience, this article contributes to clarifying the new requirements for legal skills and provides a practical basis for setting innovative requirements in legal training to meet the current digital transformation context.

Many critics emphasize that the tertiary education in Sri Lanka is in a state of crisis. Therefore, the aim of this study is to make a deep probe into such selected educational issues related to the tertiary education in Sri Lanka. The major issues can be listed as follows: It is expected to collect data referring to the library and E-library. The data from the primary and secondary sources related to the field collect through the libraries from Sri Lankan universities. What are the Issues related to the Tertiary Education in Sri Lanka at present?

Secara konseptual, integrasi ekonomi dapat dipahami sebagai upaya sistematis untuk mengurangi hingga menghilangkan berbagai hambatan ekonomi antarnegara, baik hambatan tarif (seperti bea masuk dan pajak impor) maupun hambatan non-tarif (seperti kuota, subsidi, standar teknis, dan regulasi administratif). Dengan dihilangkannya hambatan-hambatan tersebut, negara-negara yang terlibat dalam integrasi ekonomi diharapkan dapat menciptakan pasar yang lebih luas, efisien, dan kompetitif.

Latin America has been often termed as the lost continent but over the last two decades, both Europe and America have adjusted their policies as per the requirements and opportunities offered by these countries which shows that everything has not been lost. The geopolitical importance of these countries is also immense because of the huge oil reserves that they have apart from other important minerals and materials. These countries have also regrouped since the 1980s and developed the Atlantic Triangle and the Pacific Triangle to take advantage of their strengths. The chapter traces the development of globalization and regionalization in this continent and what it means to the current politico-economic world of today.

Latin America has been often termed as the lost continent but over the last two decades, both Europe and America have adjusted their policies as per the requirements and opportunities offered by these countries which shows that everything has not been lost. The geopolitical importance of these countries is also immense because of the huge oil reserves that they have apart from other important minerals and materials. These countries have also regrouped since the 1980s and developed the Atlantic Triangle and the Pacific Triangle to take advantage of their strengths. The chapter traces the development of globalization and regionalization in this continent and what it means to the current politico-economic world of today.

This chapter studies entrepreneurship and innovation in ICT companies. The study presents a literature review considering the particular features of ICT companies and proposes an empirical study applied to ICT companies in a small open economy. Empirical study using a relevant sample of ICT Portuguese companies allowed an interesting characterization of this sector in several strategic dimensions. Most ICT companies contribute to the Schumpeterian process of creative destruction, assuming a catalytic role in the creation of new companies (and industries) and in mortality of the less fit companies. In this way, promoting the revitalization and competitive selection with impact on organizational structures and obvious implications for employment, directly or indirectly, tends to save the market friction and contribute to the reduction of transaction and context costs, with a positive impact on productivity and economic growth.

This article draws on Soviet archival documents as well as Western and Russian publications to analyze the background of Leonid Brezhnev's announcements of 1972 regarding the Soviet Union's possible recognition of the European Economic Community (EEC). The analysis takes into account various factors including the integration process, détente, and Soviet relations with West European states. The article shows that Brezhnev's first initiative toward the EEC in March 1972 was designed to facilitate ratification of the Moscow Treaty with West Germany and did not reflect a genuine desire to establish relations with Brussels. The new Soviet approach toward the EEC became manifest only in Brezhnev's second speech on the topic, in December 1972. This strategy, which included mutual recognition and negotiations between the EEC and the Council on Mutual Economic Assistance, was intended to foster détente in Europe and to pave the way toward the Conference on Security and Cooper...

The COVID-19 pandemic has paralyzed the economy both nationally and internationally. Various business sectors have experienced a slowdown due to the COVID-19 pandemic, one of the financial institutions affected by COVID-19 is cooperative. Currently, Student Cooperatives are required to be agents of change and can contribute positively to society in particular and the Indonesian state, especially in the post-pandemic national economic recovery. The B-IU Digicoop application was developed to unite the strength of Student Cooperatives throughout Indonesia to empower cooperatives in community economic activities, especially students and local residents to help with economic recovery after the Covid-19 pandemic while responding to the challenges of the times in order to achieve the hopes of student cooperatives continuing to transform. become the energy of change for the progress of Indonesian cooperatives in the future. This research uses the R&D method by optimizing the prototype desig...

The Mexico Soft Drinks case arose out of a trade dispute between the United States and Mexico relating to the market for sweeteners in North America. 1 This paper will not only provide the background of WTO dispute settlement mechanism and background of the case but also show pop-up legal issues including the impacts of the decision. This case also provides a dramatization of the weakness of the WTO dispute settlement on (i) Jurisdiction of the WTO Panel and (ii) its authority to apply other dispute settlement provision of regional trade agreement to the WTO dispute. This paper has found that (i) WTO Panel can exercise its jurisdiction under WTO Covered Agreement only and (ii) they cannot apply other RTA's to the WTO dispute. Furthermore the impacts of this decision raised up a problem of overlapping between RTA and WTO agreement.

The Mexico Soft Drinks case arose out of a trade dispute between the United States and Mexico relating to the market for sweeteners in North America. 1 This paper will not only provide the background of WTO dispute settlement mechanism and background of the case but also show pop-up legal issues including the impacts of the decision. This case also provides a dramatization of the weakness of the WTO dispute settlement on (i) Jurisdiction of the WTO Panel and (ii) its authority to apply other dispute settlement provision of regional trade agreement to the WTO dispute. This paper has found that (i) WTO Panel can exercise its jurisdiction under WTO Covered Agreement only and (ii) they cannot apply other RTA’s to the WTO dispute. Furthermore the impacts of this decision raised up a problem of overlapping between RTA and WTO agreement.

Embedded finance has revolutionized the banking and finance industry, increasing financial inclusion by enabling underserved consumers to access banking and financial services for payments, lending through software and digital tools. The integration of financial services on platforms embedded in the circular economy provides a digital transformation to promote digital financial inclusion. The study examines the theoretical foundation for how embedded finance is reshaping industries and how financial institutions can mobilize its potential to create ideal environments for inclusive finance, emphasizing accessibility and community engagement.

This systematic literature review examines environmental trade measures (ETMs) and the compliance readiness of Philippine exporters under the European Union's Carbon Border Adjustment Mechanism (CBAM). Drawing from peer reviewed studies, policy documents, and institutional reports, the review synthesizes evidence on exporter awareness, preparedness, and firm level responses to carbon tariffs. The results indicate that Philippine exporters generally demonstrate moderate awareness of CBAM requirements, particularly regarding product coverage and timelines, although technical understanding of monitoring, reporting, and verification (MRV) remains uneven, especially among small and medium enterprises. The literature further reveals that overall compliance readiness is at a low to moderate level, constrained by limited emissions data systems, financial costs, and verification capacity. Consistent findings across studies establish a positive and significant relationship between awareness of environmental trade measures and compliance readiness, suggesting that informed firms are better positioned to invest in MRV systems and adaptation strategies. Based on convergent measurement approaches identified in the literature, the review proposes a Compliance Readiness Index (CRI) integrating awareness, exposure, compliance investments, adaptation strategies, and environmental outcomes to benchmark exporter preparedness over time and across sectors. Collectively, the results emphasize the need for targeted capacity building and policy support to enhance CBAM compliance readiness among Philippine exporters.

This systematic literature review examines environmental trade measures (ETMs) and the compliance readiness of Philippine exporters under the European Union's Carbon Border Adjustment Mechanism (CBAM). Drawing from peer reviewed studies, policy documents, and institutional reports, the review synthesizes evidence on exporter awareness, preparedness, and firm level responses to carbon tariffs. The results indicate that Philippine exporters generally demonstrate moderate awareness of CBAM requirements, particularly regarding product coverage and timelines, although technical understanding of monitoring, reporting, and verification (MRV) remains uneven, especially among small and medium enterprises. The literature further reveals that overall compliance readiness is at a low to moderate level, constrained by limited emissions data systems, financial costs, and verification capacity. Consistent findings across studies establish a positive and significant relationship between awareness of environmental trade measures and compliance readiness, suggesting that informed firms are better positioned to invest in MRV systems and adaptation strategies. Based on convergent measurement approaches identified in the literature, the review proposes a Compliance Readiness Index (CRI) integrating awareness, exposure, compliance investments, adaptation strategies, and environmental outcomes to benchmark exporter preparedness over time and across sectors. Collectively, the results emphasize the need for targeted capacity building and policy support to enhance CBAM compliance readiness among Philippine exporters.

Although pandemics are non-economic shocks, they can generate systemic macroeconomic instability by simultaneously disrupting production and consumption, disturbing prices and expectations, exerting pressure on fiscal and monetary balances, and rapidly transmitting through trade, tourism, and international capital flows. This paper synthesizes international evidence and derives policy implications for Vietnam: (i) integrating pandemic risks into macroeconomic management and forecasting frameworks; (ii) prioritizing preventive healthcare, data governance, and strategic communication to reduce policy response delays; (iii) ensuring the continuity of logistics and supply chains; (iv) designing targeted support packages focused on preserving employment and cash flows; and (v) flexibly coordinating fiscal, monetary, and external policies while safeguarding financial stability and public debt sustainability.