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on South East Asia |
| By: | Meng, Bo; Inomata, Satoshi |
| Abstract: | The Asia-Pacific Region has enjoyed remarkable economic growth in the last three decades. This rapid economic growth can be partially attributed to the global spread of production networks, which has brought about major changes in spatial interdependence among economies within the region. By applying an Input-Output based spatial decomposition technique to the Asian International Input-Output Tables for 1985 and 2000, this paper not only analyzes the intrinsic mechanism of spatial economic interdependence, but also shows how value added, employment and CO2 emissions induced are distributed within the international production networks. |
| Keywords: | Production networks, Spatial economic interdependence, Input-output table |
| JEL: | C67 F02 |
| Date: | 2009–03 |
| URL: | http://d.repec.org/n?u=RePEc:jet:dpaper:dpaper185&r=sea |
| By: | Armbruster, Walt; Coyle, William |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare09:48152&r=sea |
| By: | Takahashi, Kazushi |
| Abstract: | Japanese ODA, especially that undertaken by JICA, has targeted South Sulawesi Province as a core area of development in eastern Indonesia, with hope that the economic growth of South Sulawesi will bring about spillover effects in other regions. This paper tests the validity of the strategy using a framework of Vector Autoregressive model. The results show that South Sulawesi’s economy Granger causes other regions in eastern Indonesia, but not vice versa, implying that South Sulawesi drives the development of other regions in eastern Indonesia. Further analysis shows that the development of the agricultural sector in South Sulawesi potentially has the highest spillover effects than other sectors and that the magnitude of spillover effect from South Sulawesi on eastern Indonesia is higher than other economically important regions, such as Eastern Java and Kalimantan. |
| Keywords: | Spillover Effect, Vector Autoregressive, Regional Disparity, Indonesia |
| JEL: | O10 R11 R12 |
| Date: | 2009–03 |
| URL: | http://d.repec.org/n?u=RePEc:jet:dpaper:dpaper186&r=sea |
| By: | Douglas.H. Brooks |
| Abstract: | The reemergence of Asia as an economic powerhouse, mostly attributed to the expansion of its international trade, has been facilitated and encouraged by the development of infrastructure and logistics services. Infrastructure services, from both hard and soft infrastructure lower transaction costs, raise value added and increase potential profitability while also expanding linkages to global supply chains and distribution networks for producers. Asia’s trade patterns are largely characterized by a high degree of intraregional trade. Logistics services play a key role and the challenges of providing efficient logistical support as countries move into a progressively more complex and high-value manufacturing and as production process become increasingly fragmented.[WP no 128] |
| Keywords: | Asia, international trade, infrastructure services, logistics services, hard infrastructure, soft infrastructure, recent trend in Asia’s aggregate trade, intraregional trade trend (1995-2005), infrastructure and trade cost, transport infrastructure, energy infrastructure, information and communication technology (ICT) infrastructure, international logistics performance index, trade related infrastructure and regional cooperation. |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:ess:wpaper:id:1880&r=sea |
| By: | Paris, Thelma; Rola-Rubzen, Maria Fay; Luis, Joyce; Thi Ngoc Shi, Truong; Wongsanum, Chaicharn; Villanueva, Donald |
| Abstract: | Out migration from rural areas is increasingly becoming a strategy to get out of poverty. While rice–based agriculture remains to be the backbone in Southeast Asia, majority of the farming households particularly those who produce rice under rainfed conditions remain poor and insecure. This paper examines the relationship between migration and other socio-economic factors on household income using data from 1,874 rice sample farming households in Vietnam (north and south), Thailand (northeast) and Philippines (Luzon island). In the Philippines, remittances contribute about 60 per cent of household income of recipient families. In Thailand and Vietnam, of the total household income, about 40 per cent are from remittances. International migration is most prevalent in the Philippines while rural to urban migration is more prevalent in Thailand and Vietnam due to rapid urbanization and industrialization as well as improved transport and communication networks. Migration has a positive and significant relationship on household income. Remittances both from internal and international migration are predominantly used to meet daily expenses including food, farm (inputs and payment of hired laborers) and children’s education. Given the stability and reliability of the flow or remittances, they play a significant role in consumption smoothing for the poor. Remittances partake the nature of insurance for use at times of need and ease credit constraints for investments in agriculture. Those who are left behind, the elderly and the women, manage to maintain rice yields at par with those households without migrants. |
| Keywords: | migration, remittances, income, rice, farming systems, |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare09:48165&r=sea |
| By: | Lindner, Bob; McLeod, Paul |
| Abstract: | Fruit flies are recognised as one of the major pests of fruit and vegetable crops worldwide. Potential benefits from fruit fly research include biosecurity benefits from better quarantine surveillance that reduces the costs of an incursion by a damaging exotic pest fruit fly; market access benefits by enabling new fruit exports; and field control benefits from better crop management. The Australian Centre for International Agricultural Research (ACIAR)’s investment in fruitfly research goes back some 25 years to an initial project in Malaysia. Since that time, ACIAR’s continued investment has funded a total of 18 projects ranging across several areas of fruit-fly research, and covering Malaysia, Thailand, Philippines, Fiji Islands, Samoa, Tonga, Cook Islands, Vanuatu, Solomon Islands, Federated States of Micronesia (FSM), Papua New Guinea, Bhutan, Vietnam, Laos, and Indonesia. In an impact assessment study of all 18 ACIAR projects, Lindner and McLeod (2008) calculated that the present value (PV) of the total direct investment in these projects by ACIAR and its partners has been A$50.76 million. The PV of total quantifiable realised and prospective benefits that can be attributed to the direct investment by ACIAR and its partners was estimated to exceed A$258.84 million. Of this total PV of quantifiable benefits, A$212.63 million was calculated to accrue to partner-countries. In this paper, the question of why many potential benefits to partnercountries have not been realised to date, and why some future prospective benefits are problematic is examined. While the total value of benefits generated from the investment by ACIAR and its partners is impressive, the pattern of benefits is variable by type of benefit and by country. One of the most important general lessons, widely known but reinforced by the results from this study, is that while successful research project outcomes may be necessary to enable potential benefits, they rarely are sufficient for benefits to be realised. In particular, potential benefits will only be realised if there is uptake of project outputs. While it is recognized that the conditions for uptake are typically well beyond the influence of the researchers both in time and scope, at the time of project formulation, the necessary conditions for adoption of project outputs often seem to receive insufficient attention. Notwithstanding some 20 years of research on the development of low-cost protein bait sprays from brewery waste, the benefits are still essentially prospective and it has not been conclusively demonstrated that the use of these sprays will be widely adopted as a cost-effective alternative to existing practices in developing countries. |
| Keywords: | ACIAR, fruit-fly, research, impact, assessment, |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare09:47617&r=sea |
| By: | Lindner, Bob; McLeod, Paul |
| Abstract: | Fruit flies are recognised as one of the major pests of fruit and vegetable crops worldwide. Potential benefits from fruit fly research include biosecurity benefits from better quarantine surveillance that reduces the costs of an incursion by a damaging exotic pest fruit fly; market access benefits by enabling new fruit exports; and field control benefits from better crop management. The Australian Centre for International Agricultural Research (ACIAR)’s investment in fruitfly research goes back some 25 years to an initial project in Malaysia. Since that time, ACIAR’s continued investment has funded a total of 18 projects ranging across several areas of fruit-fly research, and covering Malaysia, Thailand, Philippines, Fiji Islands, Samoa, Tonga, Cook Islands, Vanuatu, Solomon Islands, Federated States of Micronesia (FSM), Papua New Guinea, Bhutan, Vietnam, Laos, and Indonesia. In an impact assessment study of all 18 ACIAR projects, Lindner and McLeod (2008) calculated that the present value (PV) of the total direct investment in these projects by ACIAR and its partners has been A$50.76 million. The PV of total quantifiable realised and prospective benefits that can be attributed to the direct investment by ACIAR and its partners was estimated to exceed A$258.84 million. Of this total PV of quantifiable benefits, A$212.63 million was calculated to accrue to partner-countries. In this paper, the question of why many potential benefits to partnercountries have not been realised to date, and why some future prospective benefits are problematic is examined. While the total value of benefits generated from the investment by ACIAR and its partners is impressive, the pattern of benefits is variable by type of benefit and by country. One of the most important general lessons, widely known but reinforced by the results from this study, is that while successful research project outcomes may be necessary to enable potential benefits, they rarely are sufficient for benefits to be realised. In particular, potential benefits will only be realised if there is uptake of project outputs. While it is recognized that the conditions for uptake are typically well beyond the influence of the researchers both in time and scope, at the time of project formulation, the necessary conditions for adoption of project outputs often seem to receive insufficient attention. Notwithstanding some 20 years of research on the development of low-cost protein bait sprays from brewery waste, the benefits are still essentially prospective and it has not been conclusively demonstrated that the use of these sprays will be widely adopted as a cost-effective alternative to existing practices in developing countries. |
| Keywords: | ACIAR, fruit-fly, research, impact, assessment, |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare09:48041&r=sea |
| By: | Paris, Thelma R.; Rola-Rubzen, Maria Fay; Luis, Joyce; Thi Ngoc Chi, Truong; Wongsanum, Chaicharn; Villanueva, Donald |
| Abstract: | Out migration from rural areas is increasingly becoming a strategy to get out of poverty. While rice–based agriculture remains to be the backbone in Southeast Asia, majority of the farming households particularly those who produce rice under rainfed conditions remain poor and insecure. This paper examines the relationship between migration and other socio-economic factors on household income using data from 1,874 rice sample farming households in Vietnam (north and south), Thailand (northeast) and Philippines (Luzon island). In the Philippines, remittances contribute about 60 per cent of household income of recipient families. In Thailand and Vietnam, these constitute about 40 per cent of total household income. International migration is most prevalent in the Philippines while rural to urban migration is more prevalent in Thailand and Vietnam due to rapid urbanization and industrialization as well as improved transport and communication networks. Migration has a positive and significant relationship on household income. Remittances both from internal and international migration are predominantly used to meet daily expenses including food, farm (inputs and payment of hired laborers) and children’s education. Given the stability and reliability of the flow or remittances, they play a significant role in consumption smoothing for the poor. Remittances partake the nature of insurance for use at times of need and ease credit constraints for investments in agriculture. Those who are left behind, the elderly and the women, manage to maintain rice yields at par with those households without migrants. |
| Keywords: | migration, remittances, income, rice, farming systems, |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare09:48030&r=sea |
| By: | Giandomenico, Rossano |
| Abstract: | The paper analyses default free zero coupon bonds in a contingent claim framework such that it determines the yield curve in absence of arbitrage opportunity. |
| Keywords: | Contingent Claim; Asian Option |
| JEL: | G12 G13 |
| Date: | 2009–01–20 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:14185&r=sea |
| By: | McAleer, M.; Huang, B-W.; Kuo, H-I.; Chen, C-C.; Chang, C-L. (Erasmus Econometric Institute) |
| Abstract: | This paper compares the impacts of SARS and human deaths arising from Avian Flu on international tourist arrivals to Asia. The effects of SARS and human deaths from Avian Flu will be compared directly according to human deaths. The nature of the short run and long run relationship is examined empirically by estimating a static line fixed effect model and a difference transformation dynamic model, respectively. Empirical results from the static fixed effect and difference transformation dynamic models are consistent, and indicate that both the short run and long run SARS effect have a more significant impact on international tourist arrivals than does Avian Flu. In addition, the effects of deaths arising from both SARS and Avian Flu suggest that SARS is more important to international tourist arrivals than is Avian Flu. Thus, while Avian Flu is here to stay, its effect is currently not as significant as that of SARS. |
| Keywords: | SARS;Avian flu;international tourism;static fixed effects model;dynamic panel data model |
| Date: | 2008–11–10 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:eureir:1765013771&r=sea |
| By: | Leif Lybecker Eskesen |
| Abstract: | Singapore's policymakers have often used fiscal policy as a counter-cyclical tool. Empirical results based on a structural autoregression framework suggest that fiscal policy can be used for demand management, although the impact may be somewhat short lived. The short-lived impact could reflect a number of factors, including the absence of credit-constrained economic agents, a high propensity to save among households, monetary focus on price stability, and leakages due to economic openness. Notwithstanding, fiscal policy should still play a key stabilizing role in the current downturn given the downside risks to growth and the vast fiscal space. |
| Keywords: | Fiscal policy , Singapore , External shocks , Economic stabilization , Price stabilization , Cross country analysis , Economic models , |
| Date: | 2009–01–21 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:09/8&r=sea |
| By: | Wiphatthanananthakul, C.; McAleer, M. (Erasmus Econometric Institute) |
| Abstract: | In 1993, the Chicago Board Options Exchange (CBOE) introduced the Volatility Index, VIX, based on S&P100 options (OEX), which quickly became the benchmark for stock volatility. As VIX is based on real-time option prices, it reflects investors’ consensual view of future expected stock market volatility. In 2003, CBOE made two key enhancements to the VIX methodology. The New VIX is based on an up-to-the-minute market estimation of expected volatility that is calculated by using real-time S&P500 Index (SPX) option bid/ask quotes and a wider range of strike prices rather than just at-the-money series with the market’s expectation of 30-day volatility and using nearby and second-nearby options. The new VIX methodology may appear to be based on a complicated formula to calculate expected volatility. In this paper, with the use of SET50 Index Options data, we simplify the apparently complicated expected volatility formula to a simple relationship, which has a higher negative correlation between the VIX for Thailand (TVIX) and SET50 Index Options. |
| Date: | 2008–12–01 |
| URL: | http://d.repec.org/n?u=RePEc:dgr:eureir:1765013992&r=sea |
| By: | Newby, Jonathon C.; Cramb, R.A. |
| Abstract: | In the Philippines, about 38 per cent of the population resides in rural areas where poverty remains a significant problem. In 2006, 47 per cent of all households in Bohol Province fell below the national poverty line, with the percentage even higher in upland communities. These households often exist in marginal landscapes that are under significant pressure from ongoing resource degradation and rising input costs. This paper first explores whether the adoption of Landcare practices in a highly degraded landscape has resulted in improved livelihood outcomes for upland farming families in Bohol. Second, it analyses the potential for the piecemeal adoption of these measures to deliver tangible benefits at the watershed scale. Finally, using a BCA approach, these outcomes are compared to the costs of the research and extension projects that have helped achieve them. |
| Keywords: | Landcare, Philippines, livelihoods, poverty, watershed, ACIAR, |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare09:48061&r=sea |
| By: | Bayot, Ruvicyn; Templeton, Debbie |
| Abstract: | Rice, a staple food for over 70% of Asians, is also the single biggest user of water, requiring 2â€Â3 times more water per unit of grain produced than crops such as wheat and maize. With growing populations, increased urbanisation and environmental degradation, the supply of fresh water is depleting. Recognising the water constraints to rice yield, the aim of the project entitled ‘Developing a System of Temperate and Tropical Aerobic Rice (STAR) in Asia’ was to develop waterâ€Âefficient aerobic rice technologies. This paper highlights the success of that project. |
| Keywords: | Aerobic rice, economic impact, |
| Date: | 2009 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare09:47635&r=sea |