Analysis of micro, small, medium enterprises: The cases of Singapore, Malaysia, Philippines, Thailand and Vietnam

Authors: 
Xavier Lawrence D. Mendoza, Jerico B. Tadeo
DOI Number: 
http://doi.org/10.31039/jomeino.2022.7.1.1
Abstract: 
Micro, small and medium enterprises (MSMEs) have a great importance in various economic systems in global scale. In early 2000s, the promotion of MSMEs has been a main key player in promoting economic activity in the region. As purported and pillared by the ASEAN Economic Blueprint, the main economic integration strategy will focus on the merging of local economies in the region through the MSMEs. However, theoretically and economically speaking, in order for integration to exist, the local markets should be moving sensitively with respect to other markets inside the economic bloc market. Thus, this study attempted to study the conditioning effect of the number of MSMEs, number of employment generation to the Gross Domestic Product (GDP) of Singapore, Malaysia, Philippines, Thailand and Vietnam. The researchers used descriptive-causal design through panel regression model using secondary data to treat and analyze data sets. The findings revealed that there was scattered pattern of growth among numbers of MSMEs in the undistributed growth among employment generation of MSMEs. Considerably, the regression revealed through a random effect model that there are no integration or movement effects of MSME contributions to their respective GDP using Singapore as reference. The study concluded that there is no country-effect sensitivity within and among the compared countries. Hence, economic integration as a status quo is not a viable economic strategy. Thereby, the researchers recommend the internal policies within nations to intensify, promote, develop and provide safety nets to strengthen the MSMEs of their respective states.
Keywords: 
Association of Southeast Asian Nations; Distributed lag regression model; Economic blueprint; Micro, small and medium enterprise; Random effects model.
Full Text: 
File download
References: 

ADB. (2018). Asian Development Bank 2018 Annual Report. http://dx.doi.org/10.22617/FLS190058
ADB. (2021). Asian Development Bank 2021 Annual Report. http://dx.doi.org/10.22617/FLS220104
Agani, M. H. A., Abadi, A. T., Muhiddin, A., & Handam, H. (2021). Collaborative governance of MSMEs on legal protection for online transactions during the Covid19 pandemic. Prosiding UMY Grace , 2(1), 619-624. https://prosiding.umy.ac.id/grace/index.php/pgrace/article/view/217
Dagpin, J. C., Escaño, A. R., Mendoza, X. L. D., & Vertuso, J. C. (2022). Microenterprises shutdown amidst COVID-19 pandemic: A focus on determinants and exit strategies. Asia Pacific Journal of Academic Research in Business Administration, 8(1), 22-28.
Djuniardi, D., Harjadi, D., & Fitriani, L. K. (2022, August). Problems, Motivation and Success of Women Entrepreneurs: a Study on the MSME Sector in Kuningan Regency, West Java During the Pandemic. In UNISET 2021: Proceedings of the 2nd Universitas Kuningan International Conference on System, Engineering, and Technology, UNISET 2021, 2 December 2021, Kuningan, West Java, Indonesia (p. 336-344). European Alliance for Innovation. http://dx.doi.org/10.4108/eai.2-12-2021.2320288
Ion, A. E. (2020, July). Ethics and sustainability in small and medium-sized enterprises public policies. In 1st International Conference Global Ethics Key of Sustainability (GEKoS) (pp. 74-85). Editura Lumen, Asociatia Lumen.
Maran, R. (2022). Improving MSMEs’ access to start-up financing in ASEAN countries. Munich Personal RePEc Archive. https://EconPapers.repec.org/RePEc:pra:mprapa:114501
Nurwaesari, N., Hirawan, F. B., & Ragamustari, S. K. (2022). The impact of collaborative governance on MSMEs recovery in DKI Jakarta during the COVID-19 pandemic. Distribusi-Journal of Management and Business, 10(1), 1-10. https://doi.org/10.29303/distribusi.v10i1.222.
Redjeki, F., & Affandi, A. (2021). Utilization of digital marketing for MSME players as value creation for customers during the COVID-19 pandemic. International Journal of Science and Society, 3(1), 40-55. https://doi.org/10.54783/ijsoc.v3i1.264
Rita, M. R., Nugrahanti, Y. W., Kristanto, A. B., Usmanij, P., & Ratten, V. (2022). A growth strategy perspective: An empirical study on MSMEs in Salatiga during the COVID-19 pandemic. In: Ratten, V. (eds) Innovation in ASEAN. Springer, Singapore. https://doi.org/10.1007/978-981-19-0644-2_6
Solina, M. F. L. (2020). Assessment of business environment of women involved in micro, small, and medium enterprises (MSMEs) in the Philippines: A comparative study with select ASEAN countries. Journal of ASEAN Studies, 8(2), 191-211. https://doi.org/10.21512/jas.v8i2.6617
Solis, G. G., & Tadeo, J. B. (2022). An analysis of the Philippine aggregate demand, money supply and interest rate: A monetarist perspective in economic-pandemic scenario. Asia Pacific Journal of Academic Research in Business Administration, 8(1), 29-37.
Suhardi, A. R., Prasetia, A. R., & Marinda, V. S. (2021). Analysis of differences in the productivity of MSMEs Sentra Rajut as a pandemic impact of covid-19. Turkish Journal of Computer and Mathematics Education, 12(8), 1590-1595. https://doi.org/10.17762/turcomat.v12i8.3211.
Tadeo, M. J. B. (2018). The potency of fiscal and monetary policy of the ASEAN five from 2005 to 2015: A modified St. Louis model approach. ResearchGate. https://doi.org/10.13140/RG.2.2.35628.13440/1

Page: 
1-15.
Content Status: 
Published