This paper compares the institutional development of APEC and ASEM. The study makes a survey of the various theories and explanations of institutionalism characterizing regional economic cooperation in Asia. After reviewing realist and liberal approaches to the study of Asian regionalism, this study pursues the premise that institutionalization in Asia is a function of the degree of social learning within and between international organizations in the region. In particular, the discussion focuses on the “nesting behavior” of APEC and ASEM. The paper analyzes how these associations nest themselves with more developed institutions such as the WTO. It likewise examines how the process of social learning is transpiring between the two cooperative arrangements. While ASEM largely draws its inspiration from APEC, the latter can also learn from ASEM particularly in the area of political cooperation. Finally, the study examines the learning process between APEC and ASEM and sub-regional institutions, particularly that of ASEAN. Institutional reform in both APEC and ASEM can benefit from linkages of subregional organizations within each arrangement
