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on South East Asia |
| By: | Oikawa, Hiroshi |
| Abstract: | This study aims to examine the international value distribution structure among major East Asian economies and the US. The mainstream trade theory explains the gains from trade; however, global value chain (GVC) approach emphasises uneven benefits of globalization among trading partners. The present study is mainly based on this view, examining which economy gains the most and which the least from the East Asian production networks. Two key industries, i.e., electronics and automobile, are our principle focus. Input-output method is employed to trace the creation and flows of value-added within the region. A striking fact is that some ASEAN economies increasingly reduce their shares of value-added, taken by developed countries, particularly by Japan. Policy implications are discussed in the final section. |
| Keywords: | East Asia, Southeast Asia, United State, International economic relations, Input-Output Analysis, Electronic industries, Automobile industry, Foreign investments, Small and medium-scale enterprises, International economic integration, Input-output tables, Global value chains |
| JEL: | C67 F23 L62 L63 |
| Date: | 2008–10 |
| URL: | http://d.repec.org/n?u=RePEc:jet:dpaper:dpaper172&r=sea |
| By: | Karine Marazyan (CES - Centre d'économie de la Sorbonne - CNRS : UMR8174 - Université Panthéon-Sorbonne - Paris I) |
| Abstract: | This paper aims at explaining differences in education among foster-children and between foster and biological children in developing countries. Foster-children whose biological parents are alive may provide old-age support for both their host and biological parents. Therefore foster-children have lower returns to education than biological children and should receive less human capital investment in household where both types of children live together. However, in households where foster-children are alone, host parents will over-invest in their education to ensure that the expected old-age support will equal a minimum amount to survive. Using data from Indonesia, we provide some evidence supporting our hypothesis. |
| Keywords: | Household Structure, Child Fostering, Sibling Rivalry |
| Date: | 2008–06–25 |
| URL: | http://d.repec.org/n?u=RePEc:hal:cesptp:halshs-00290644_v1&r=sea |
| By: | Vandenberg, Paul (International Management Institute, New Delhi) |
| Abstract: | The survey analyzes policies that provide flexibility for employers and security for workers in Asia. The cases exhibit distinct sub-regional patterns. India and Sri Lanka, in South Asia, provide (employer-based) ‘employment security’ and have not transitioned to broader systems of ‘labour market security’ as envisioned by the flexicurity model. China and Korea, in Northeast Asia, have made that transition over the past decade by reducing restrictions on retrenchment while introducing unemployment insurance and active measures. In Southeast Asia, Singapore and Malaysia offer flexible systems with strong active policies but low security in terms of employment protection and passive measures. The above characterizations apply to the formal economy. In China, India and Sri Lanka, where the informal and rural economies are large, governments have used public works, self-employment programs and skills training to support labour market outcomes. |
| Keywords: | Labour flexibility / employment security / employment policy / labour policy / China / Korea R / India / Malaysia / Singapore / Sri Lanka |
| Date: | 2008 |
| URL: | http://d.repec.org/n?u=RePEc:ilo:empelm:2008-04&r=sea |
| By: | Katsushi S. Imai; Raghav Gaiha; Ganesh Thapa |
| Date: | 2008 |
| URL: | http://d.repec.org/n?u=RePEc:man:sespap:0808&r=sea |
| By: | Hooy, Chee Wooi; Chan, Tze-Haw |
| Abstract: | The exposure to exchange rates remains an unresolved issue in international trade literature. The issue is particularly relevant to China and Malaysia, whom relaxed their USD pegging the same day in the mid of 2005. Our paper investigates the exchange rate exposure of China-Malaysian bilateral trade balance over the last 20 years using a standard trade balance equation which is a function of local income, foreign income, and the bilateral real exchange rates of yuan/ringgit. Our modeling is somewhat different with the literature where we take into account the structural breaks of the 1997 Asian currency crisis as well as the fixed-exchange rate regime adopted by the Malaysia. With high frequency monthly sample (Jan1990-Jan2008), we documented GARCH effect in the trade model. Taking that into consideration, our result shows that real exchange rates do play a role in the bilateral trade of China-Malaysia. The long run exchange rate elasticity is consistent with the Marshall-Lerner condition. However, the short run J-curve phenomenon is somewhat inconclusive. |
| Keywords: | Exports; Imports; exchange rates exposure; J-curve; structural breaks; GARCH |
| JEL: | C32 F10 F41 F31 |
| Date: | 2008–10–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:11306&r=sea |
| By: | Eric Le Borgne; John Brondolo; Frank Bosch; Carlos Silvani |
| Abstract: | Tax administration reforms can play an important role in fiscal adjustment. This role is examined by reviewing Indonesia's tax reform cum fiscal adjustment experience since 2001. The paper describes Indonesia's fiscal adjustment strategy, its tax administration reforms, and assesses the impact of these reforms on fiscal adjustment. Evidence suggests tax administration improvements had a strong positive impact on the tax yield and a positive effect on the investment climate. Lessons are presented for designing tax administration reforms within the context of a fiscal adjustment program and reform priorities are identified for Indonesia's ongoing efforts to strengthen tax administration. |
| Keywords: | Indonesia , Tax administration , Tax reforms , Fiscal reforms , Investment , |
| Date: | 2008–05–22 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:08/129&r=sea |
| By: | B. Bhaskara Rao; Arusha Cooray |
| Abstract: | This paper examines a recent view of Pritchett (2006) that there is a wide gap between the theoretical and empirical growth literature and the policy needs of the developing countries. Growth literature has focussed on the long term growth outcomes but policy makers of the developing countries need rapid improvements in the growth rate in the short to medium terms. We think that this gap can be reduced if attention is given to the dynamic effects of policies. With data on Singapore, Malaysia and Thailand we show that an extended version of the Solow (1956) model is well suited for this purpose. We found that the short to medium term growth effects of investment ratio are much higher than its long run effects and persist. Dynamic simulations for Singapore showed that these short and medium run growth effects are significantly higher than the steady state growth rate for up to 10 years. |
| Keywords: | Solow Growth Model, Endogenous Growth, Dynamic Growth Effects of Investment Rate, Policies for Developing Countries. |
| JEL: | O11 |
| Date: | 2008–10–29 |
| URL: | http://d.repec.org/n?u=RePEc:eei:rpaper:eeri_rp_2008_09&r=sea |
| By: | Rao, B. Bhaskara; Cooray, Arusha |
| Abstract: | This paper, a revised version of an earlier paper, examines a recent view of Pritchett (2006) that there is a wide gap between the theoretical and empirical growth literature and the policy needs of the developing countries. Growth literature has focussed on the long term growth outcomes but policy makers of the developing countries need rapid improvements in the growth rate in the short to medium terms. We think that this gap can be reduced if attention is given to the dynamic effects of policies. With data on Singapore, Malaysia and Thailand we show that an extended version of the Solow (1956) model is well suited for this purpose. We found that the short to medium term growth effects of investment ratio are much higher than its long run effects and persist. Dynamic simulations for Singapore showed that these short and medium run growth effects are significantly higher than the steady state growth rate for up to 10 years. |
| Keywords: | Solow Growth Model; Endogenous Growth; Dynamic Growth Effects of Investment Rate; Policies for Developing Countries |
| JEL: | O11 |
| Date: | 2008–11–09 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:11481&r=sea |
| By: | Tuan, Tran Hu; Lindhjem, Henrik |
| Abstract: | We conduct a meta-analysis (MA) of around 100 studies valuing nature conservation in Asia and Oceania. Dividing our dataset into two levels of heterogeneity in terms of good characteristics (endangered species vs. nature conservation more generally) and valuation methods, we show that the degree of regularity and conformity with theory and empirical expectations is higher for the more homogenous dataset of contingent valuation of endangered species. For example, we find that willingness to pay (WTP) for preservation of mammals tends to be higher than other species and that WTP for species preservation increases with income. Increasing the degree of heterogeneity in the valuation data, however, preserves much of the regularity, and the explanatory power of some of our models is in the range of other MA studies of goods typically assumed to be more homogenous (such as water quality). Subjecting our best MA models to a simple test forecasting values for out-of-sample observations, shows median (mean) forecasting errors of 24 (46) percent for endangered species and 46 (89) percent for nature conservation more generally, approaching levels that may be acceptable in benefit transfer for policy use. We recommend that the most prudent MA practice is to control for heterogeneity in regressions and sensitivity analysis, rather than to limit datasets by non-transparent criteria to a level of heterogeneity deemed acceptable to the individual analyst. However, the trade-off will always be present and the issue of acceptable level of heterogeneity in MA is far from settled |
| Keywords: | Valuation; biodiversity; Asia; meta-analysis; meta-regression; benefit transfer. |
| JEL: | Q26 H41 Q51 Q57 |
| Date: | 2008–07 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:11470&r=sea |
| By: | Dominique Guegan (CES - Centre d'économie de la Sorbonne - CNRS : UMR8174 - Université Panthéon-Sorbonne - Paris I); Cyril Caillault (FORTIS Investments - Fortis investments) |
| Abstract: | Using non-parametric (copulas) and parametric models, we show that the bivariate distribution of an Asian portfolio is not stable along all the period under study. We suggest several dynamic models to compute two market risk measures, the Value at Risk and the Expected Shortfall: the RiskMetric methodology, the Multivariate GARCH models, the Multivariate Markov-Switching models, the empirical histogram and the dynamic copulas. We discuss the choice of the best method with respect to the policy management of bank supervisors. The copula approach seems to be a good compromise between all these models. It permits taking financial crises into account and obtaining a low capital requirement during the most important crises. |
| Keywords: | Value at Risk - Expected Shortfall - Copula - RiskMetrics - Risk management -GARCH models - Switching models. |
| Date: | 2008–03–06 |
| URL: | http://d.repec.org/n?u=RePEc:hal:cesptp:halshs-00185374_v1&r=sea |