A harmonised or converged group of economies would ensure meaningful economic collaboration within that group. This study evaluates if ASEAN-5, namely, Indonesia, Malaysia, the Philippines, Singapore and Thailand is converging in time. The long run macroeconomic relationship of ASEAN-5 is measured by their respective real gross domestic product. Subsequently, the time-varying convergence of ASEAN-5 is examined. In time, the empirical findings suggest that all ASEAN-5 are compatible but Malaysia, the Philippines and Thailand are relatively more co-ordinated, economically. Hence, Malaysia, the Philippines and Thailand could be the driving force of ASEAN's regional coalition. In order to accelerate regional co-operation efforts, Malaysia, the Philippines and Thailand should formulate reasonable and workable integration guidelines.  Source: International Research Journal of Finance & Economics; 2007 Issue 8, p97-106, 10p. Authors: Hway-Boon Ong & Muzafar Shah Habibullah.  [Download]