MEASURING FINANCIAL RESILIENCE ACROSS THE ASEAN-5 ECONOMIES (INDONESIA, MALAYSIA, THE PHILIPPINES, THAILAND AND VIETNAM)

Abstract

The purpose of the article is to provide an overview of the six largest ASEAN-5 economies by economic criteria, in terms of financial resilience. The financial resilience challenges facing these major economies could be categorized into: the ability to create and maintain a strong financial system capable of absorbing external shocks such as economic crises or natural disasters; diversification of the economy with investments in new and innovative sectors; social stability; and the ability to adapt to rapid changes in the economic and social environment. Both financial resilience and financial sustainability at country level implies: efficient resource management through responsible use of natural and human resources; economic equilibrium by maintaining a balance between growth, employment, inflation and public debt; allocation of resources to education, research, innovation and infrastructure to ensure long-term growth; reducing imbalances by adopting policies that reduce social and regional inequalities, ensuring an equitable distribution of wealth; protecting the environment by implementing policies that reduce pollution, conserve biodiversity and promote the use of renewable resources. The paper also focuses on the comparative analysis, of the six  studied countries, examining the status of  key indicators that measure financial resilience  and sustainability based on data collected between 2020 and 2025.