The Economic Development Of Laos And Its Future Membership In The Asian-Pacific Economic Cooperation

Authors

Sean C. Luangrath, Brigham Young University
Dr. Stanley E. Fawcett, Brigham Young University
Brent D. Wilson, Brigham Young University

Keywords

Laos, Asian-Pacific Economic Cooperation, APEC, ASEAN, economic development

College

Marriott School of Management

Department

Management

Abstract

In 1997, Laos was admitted into the Association of Southeast Asian Nations (ASEAN). This membership in a free-trade area has accelerated Laos’ economic growth but only to a certain extent—free trade is limited to only Southeast Asian countries. The two main economic groups in Southeast Asia are the Association of South-East Asian Nations (ASEAN) and the Asian Pacific Economic Cooperation (APEC). Many people argue that these associations are too bureaucratic and protectionalistic to be effective. How has Laos benefited since its admission into ASEAN in July 1997? Should Laos pursue membership in APEC? How economically effective is APEC? What are the pros and cons of membership? Laos is now at an economic crossroad. I believe Laos will greatly benefit by joining another economic cooperation such as APEC. This article will assess the current economic condition of Laos and its membership in ASEAN. It will also assess benefits and shortfalls of APEC membership and make recommendations for Laos to pursue or defer membership in APEC.

Recommended Citation

Luangrath, Sean C.; Fawcett, Dr. Stanley E.; and Wilson, Brent D. (2014) "The Economic Development Of Laos And Its Future Membership In The Asian-Pacific Economic Cooperation," Journal of Undergraduate Research: Vol. 2014: Iss. 1, Article 996.
Available at: https://scholarsarchive.byu.edu/jur/vol2014/iss1/996