Abstract
The following article joins the debate about the theoretical and empirical implications of the Asian crisis on Southeast Asian regionalism. It argues that the realist-institutionalist dichotomy does not provide a fruitful framework of analysis. ASEAN policies are characterized by a policy mix, albeit one that is influenced by a strong dose of realism - a tendency that has been exacerbated by the Asian crisis. The crisis has thrown ASEAN's collective identity into deep disarray - and thus also questions constructivist approaches. Departing from these theoretical issues the article traces ASEAN responses to the crisis in three key areas: economic cooperation, enlargement and values. The article concludes with a few lessons for regionalism which may be derived from the Asian crisis.