Asia-Pacific Regional Integration Index: Construction, Interpretation, and Comparison
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The study develops an index to measure the degree of regional integration in Asia and the Pacific (48 economies in six subregions).
The index comprises 26 indicators in six dimensions of regional integration, i.e., trade and investment, money and finance, regional value chains, infrastructure and connectivity, free movement of people, and institutional and social integration. In constructing composite indexes, principal component analysis was used to determine the weight of each dimension and indicator. The resulting indexes help assess the state of regional integration on diverse socioeconomic dimensions, evaluate progress against goals, identify strengths and weaknesses, and track progress.