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on South East Asia |
| By: | Anita Tuladhar; Nina T Budina |
| Abstract: | This paper focuses on post-crisis fiscal priorities in the ASEAN-5 economies - Indonesia, Malaysia, Philippines, Singapore and Thailand. Sound economic fundamentals and timely and forceful policy responses to the crisis, including fiscal stimulus, contributed to rapid economic recovery in the ASEAN-5. As growth rebounds, these economies are beginning to identify, communicate and implement their strategies for unwinding the fiscal stimulus while addressing long-term growth challenges. In this context, the paper highlights the need for fiscal policies to address infrastructure gaps, stimulate private consumption and expand social safety nets. Creating fiscal space to address these challenges will require raising revenues and reorienting public spending rather than increasing borrowing. Supporting structural reforms, aiming to stimulate private infrastructure investment, could help address long-term growth challenges, while easing the burden on fiscal policy. |
| Keywords: | Association of Southeast Asian Nations , Cross country analysis , Economic growth , Economic recovery , Fiscal policy , Indonesia , Infrastructure , Malaysia , Philippines , Private consumption , Public investment , Singapore , Social safety nets , Thailand , |
| Date: | 2010–11–10 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfwpa:10/252&r=sea |
| By: | Kawai, Masahiro (Asian Development Bank Institute); Zhai, Fan (Asian Development Bank Institute) |
| Abstract: | Using a dynamic global general equilibrium model, the paper assesses the short- and medium-term impacts of the global financial crisis on Asian economies and the implications of post-crisis adjustment in emerging East Asia (EEA) for the world economy. The analysis suggests that EEA is unlikely to be severely damaged permanently by the global financial crisis, and a worldwide fiscal stimulus could play an important role in stabilizing the global economy in crisis. EEA’s efforts at strengthening regional demand, in conjunction with adopting a more flexible exchange rate regime, will promote more balanced regional growth and facilitate an orderly global rebalancing. However, despite the growing size of EEA in the global economy, the region’s growth rebalancing has only modest spillover effects on the rest of the world. EEA can contribute to global growth, but it alone cannot become the sole engine driving post-crisis growth in the world economy. |
| Keywords: | Computable general equilibrium model; global financial crisis; Easst Asia; emerging |
| JEL: | C68 E62 F32 F47 |
| Date: | 2010–11–23 |
| URL: | http://d.repec.org/n?u=RePEc:ris:adbiwp:0254&r=sea |
| By: | Situngkir, Hokky |
| Abstract: | The articles discusses the management of the cultural diversity in Indonesian archipelago by incorporating the web 2.0 and participatory database documentation system. Things related to the reports and researches that have been brought related to the on going collecting data is discussed, economy-wise and scientific-wise. The high diversity of elasticities in Indonesia is not only exotic for performance, watch, and wear. They might also be able to tell us about who we are. |
| Keywords: | Culture; Wipo; Intellectual Property Rights; Indonesia; Patent; Intangible Culture |
| JEL: | L82 M14 O38 Z1 O34 A13 P35 Z11 |
| Date: | 2010–11–26 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:27021&r=sea |
| By: | Carl Middleton |
| Abstract: | This paper puts forward the case for Thailand’s commercial banks to move towards more sustainable banking practices that proactively contribute towards socially and environmentally sustainable and just societies. It argues that such reforms would also benefit the banks themselves by ensuring that social and environmental investment risks are quantified and therefore minimized, whilst at the same time opening the door to previously unidentified “green†investment opportunities. |
| Keywords: | sustainable, commercial banks, Asian financial crisis, dams, banking, banks, Laos, Thailand, social, environmental investment, investment opportunities, |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:ess:wpaper:id:3223&r=sea |
| By: | Mokhamad Anwar (Department of Management and Business, Faculty of Economy, Padjadjaran University) |
| Abstract: | This paper tries to observe the cost structure in two prominent Islamic banks in Indonesia. The Bank’s cost structures are viewed in many ways such as operational and non-operational costs, and fund costs and non-fund costs. The study employed descriptive analysis to explain the data characteristics from the banks and tried to make evaluation by comparing the data within the same time. The result of the study showed that there was a similarity about those Islamic bank’s cost structures behavior, but there were also some differences among those within the study period. By using inferential statistics method, especially with meandifferences test, the study demonstrated that the null-hypothesis was rejected which means that there were differences about the cost structures between both Islamic banks within the period. |
| Keywords: | operational cost, non-operational cost, islamic banks |
| JEL: | G0 |
| Date: | 2010–08 |
| URL: | http://d.repec.org/n?u=RePEc:unp:wpaman:201008&r=sea |
| By: | Philippa Dee (Crawford School of Economics, and Government Australian National University ( ANU ) Canberra) |
| Abstract: | In services markets, there may be legitimate reasons to regulate. Integration efforts should target regulatory restrictions that explicitly limit competition, and those that are intended to meet legitimate objectives, but are clearly more burdensome than need to be. In health and maritime, ASEAN is already relatively liberal by international standards, although there is still scope to promote cross-border trade and ease costly cabotage restrictions. In telecommunications, the residual foreign equity limits are hard to understand, given that past reforms and current technologies have ensured that most markets are already relatively competitive. In finance, there is substantially more to do, despite progress made during the Asian financial crisis. And in air transport, despite commitments to open skies, there is a need to further align the content of bilateral air services agreements with regional integration objectives. |
| Date: | 2010–10–01 |
| URL: | http://d.repec.org/n?u=RePEc:era:wpaper:pb-2010-01&r=sea |
| By: | Mokhamad Anwar (Department of Management and Business, Faculty of Economy, Padjadjaran University) |
| Abstract: | The aim of this paper is to observe the cost structure in two prominent sharia banks in Indonesia. The Bank’s cost comprises of many cost components such as operational and non-operational costs. The study employed descriptive and inferential statistics to explain the data characteristics from those banks and tried to determine whether those costs influenced the profitability for the period of 2007-2008. The data were collected on the monthly basis for the period. The result of the study showed that there were some similarities and differences about the behavior of those banks within the study period. By using inferential statistics method, especially with the multiple regression analysis and hypothetical testing with F-test and t-test, the study demonstrated that the null-hypothesis was rejected which means that those costs simultaneously influenced on the bank’s profitability for the period. |
| Keywords: | bank's costs, profitability, sharia banks |
| JEL: | G0 |
| Date: | 2010–09 |
| URL: | http://d.repec.org/n?u=RePEc:unp:wpaman:201009&r=sea |
| By: | Erman A Sumirat (Research Division, Laboratory of Management FE UNPAD); Sunu Widianto (Research Division, Laboratory of Management FE UNPAD) |
| Abstract: | In the dynamic world where entrepreneurs compete internationally due to globalization, business decisions are very hard to execute for local entrepreneurs especially when determining sales price for the products. In Indonesia, Asean China Free Trade Agreement (ACFTA), the free trade agreement between Asean countries and China also carries some difficulties to local entrepreneurs especially in small and medium enterprises (SME) as local SMEs still have lack of competitiveness compare with that of Chinese products. Hence, most of the customers have shifted their preferences to Chinese products simply because of its lower price. This phenomenon has impacted local entrepreneurs negatively in terms of competitiveness and losing customer loyalty. To strengthen local entrepreneurs’ competitiveness, one of the alternatives are promoting and implementing creative economy which more utilized cultural aspects which bring clear positioning to the local products. This study examines why creative industries as proposed by UNCTAD Framework (2008) is relevant to be implemented in Indonesia. Besides providing literature studies about creative economy, this study is also presenting the case study of how entrepreneurs who exploit local culture can have significant benefits especially in fashion, art and musical businesses. Bandung, the capitol of West Java as one of major cities in Indonesia is selected as Bandung has been appointed as a creative city pilot project by British Council (2007) as many Indonesian creative entrepreneurs are coming from Bandung. Therefore, the concept of creative industries and creative economy should be transferred and promoted to local entrepreneurs in order to enhance global competitiveness Four Actors-Four Elements model is developed in this study as a framework to successfully implement creative economy to the locals. Four Actors means the involvement of government as a regulator; communities as participants and customers; companies including corporate social responsibility and community development programs as well as creditors or investors through venture capital for micro finance and SME. Also the model has covered four core elements: firstly, culture which must be properly exploited to make an uniqueness in producing goods and services including giving transfer of knowledge to customers; secondly, place where should be set up strategically to attract customers to come; thirdly, economy factor like customers’ buying power and consumer behavior which creates demand as well as entrepreneurs capacity that develops supply; lastly, branding promotion are also important so customers have brand awareness regarding the local products/services. The introduction of four actors-four core elements model is expected to make creative economy works successfully in Indonesia. In the long run, it will strengthen global competitiveness by utilizing local culture and it will make a readiness in head to head competition with Chinese products. |
| Keywords: | creative industry, SME, competitiveness, local entrepreneurs |
| JEL: | G0 |
| Date: | 2010–06 |
| URL: | http://d.repec.org/n?u=RePEc:unp:wpaman:201006&r=sea |
| By: | Takeshi Fujimoto (Executive Director, JETRO Singapore); Shochiro Hara (Senior Consultant, Nomura Research Institute, Ltd.); Fukunari Kimura (Chief Economist of ERIA) |
| Abstract: | Let’s dream of our bright and prosperous future. In the year of 2020, sixteen East Asia Summit (EAS) member countries can reach doubled per capita income compared with their income level in 2008 with proper policy guidance; eight countries may join developed countries with per capita income exceeding US$10,000, five countries could enjoy the status of newly industrialized countries with per capita income between US$3,000 and US$10,000, and three countries would have per capita income above US$1,000. The Comprehensive Asia Development Plan (CADP) provides immediate policy guidance for industrialization through the development of logistics and other economic infrastructure. Beyond CADP, EAS member countries will face novel policy challenges that developing countries in the world have not broken through yet. This policy brief claims that establishing four virtuous cycles will be the key and we must have the courage to meet a number of policy challenges. |
| Date: | 2010–10–01 |
| URL: | http://d.repec.org/n?u=RePEc:era:wpaper:pb-2010-02&r=sea |
| By: | Stefan Gerhold |
| Abstract: | Barrieu, Rouault, and Yor [J. Appl. Probab. 41 (2004)] determined asymptotics for the logarithm of the distribution function of the Hartman-Watson distribution. We determine the asymptotics of the density. This refinement can be applied to the pricing of Asian options in the Black-Scholes model. |
| Date: | 2010–11 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1011.4830&r=sea |
| By: | Aditya M Salya (Department of Management and Business, Faculty of Economy, Padjadjaran University) |
| Abstract: | Studies have shown that small and medium enterprises have embraced e-commerce to strengthen their competitive. The e-commerce is supposed to be useful in reaching out to markets. In this case of the best distro companies in Bandung, Indonesia: unkl347 and ouvalresearch that focus on selling apparel and clothing for teen segment. In this paper, we discuss findings from the support and barriers of e-commerce to entry the market, How social media such as: Google and face book could help their buyer and seller, the governement support on internet access and protection toward online customer and at the end the impact of e-commerce for their business in the future. |
| Keywords: | E-commerce, small medium enterprise |
| JEL: | G0 |
| Date: | 2010–11 |
| URL: | http://d.repec.org/n?u=RePEc:unp:wpaman:201012&r=sea |
| By: | Aditya M Salya (Department of Management and Business, Faculty of Economy, Padjadjaran University) |
| Abstract: | This paper discribe a role of internet marketing toward creative industries in Bandung. How Internet Marketing can help the creative industries to access the market through internet. Bandung, as emerging city for creative industries in Indonesia has shown the great developent of small medium entreprise, that create the potential market. We highlight what is the tools of internet marketing as promotion that make customer interest to buy the product and at the end the impact of internet marketing for their business in the future. |
| Keywords: | internet marketing, creative industries |
| JEL: | G0 |
| Date: | 2010–10 |
| URL: | http://d.repec.org/n?u=RePEc:unp:wpaman:201011&r=sea |
| By: | Ale Ebrahim, Nader; Ahmed, Shamsuddin; Abdul Rashid, Salwa Hanim; Taha, Zahari |
| Abstract: | Virtual teams give many advantages to organizations, including increased knowledge sharing and improve organizational performance. Virtual teams have altered the expectations and boundaries of knowledge worker’s interactions and make a new opportunity to develop the business. In this paper, we present summary results of an online survey. The online questionnaire was emailed by using a simple random sampling method to 356 Malaysian manufacturing small and medium –sized Enterprises (SMEs). The findings of this study show that SMEs in Malaysia are gaining to use virtual teams, and it can be concluded that virtual teams provide a new platform for developing the business in SMEs. Based on the study, we suggest avenues for future research that are important to advancing our understanding of virtual team effects on business growth. |
| Keywords: | Collaboration; virtual teams; SMEs; Entrepreneurship; Business development; Survey |
| JEL: | M11 M00 N60 Q55 L23 D85 O14 |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:26934&r=sea |
| By: | Ale Ebrahim, Nader; Ahmed, Shamsuddin; Taha, Zahari |
| Abstract: | This paper explores potential advantages of using virtual teams for small and medium-sized enterprises (SMEs) with a comprehensive review on various aspects of virtual teams. Based on the standing of the pertinent literature, attempt has been made to study the aspects by online survey method in Iran and Malaysia. In both countries, SMEs play an important role in their economies, employments, and capacity building. Virtual R&D team can be one of the means to increase SMEs efficiency and competitiveness in their local as well as global markets. In this context, surveys have been conducted to evaluate the effects of virtuality to the growth of SMEs. The study addresses some differences between two countries in engaging virtual research and development (R&D) teams in their SMEs. It is observed that there is a significant difference between the SMEs turnover that employed virtual team and that did not employ the virtual team. The way for further studies and recommend improvements are proposed. |
| Keywords: | Virtual R&D team, small and medium enterprises, survey, developing countries. |
| JEL: | O47 F23 O32 L2 M11 M1 O43 M54 R11 O3 |
| Date: | 2010–07–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:26983&r=sea |
| By: | Emanuel Kohlscheen |
| Abstract: | In spite of early skepticism on the merits of floating exchange rate regimes in emerging markets, 8 of the 25 largest countries in this group have now had a floating exchange rate regime for more than a decade. Using parsimonious VAR specifications covering the period of floating exchange rates, this study computes the dynamics of exchange rate pass-throughs to consumer price indices. We find that pass-throughs have typically been moderate even though emerging floaters have seen considerable nominal and real exchange rate volatilities. Previous studies that set out to estimate exchange rate pass-throughs ignored changes in policy regimes, making them vulnerable to the Lucas critique. We find that, within the group of emerging floaters, estimated pass-throughs are higher for countries with greater nominal exchange rate volatilities and that trade more homogeneous goods. These findings are consistent with the pass-through model of Floden and Wilander (2006) and earlier findings by Campa and Goldberg (2005), respectively. Furthermore, we find that the Indonesian Rupiah, the Thai Baht and possibly the Mexican Peso are commodity currencies, in the sense that their real exchange rates are cointegrated with international commodity prices. |
| Date: | 2010–11 |
| URL: | http://d.repec.org/n?u=RePEc:bcb:wpaper:224&r=sea |
| By: | Ale Ebrahim, Nader; Ahmed, Shamsuddin; Taha, Zahari |
| Abstract: | Small and medium enterprises (SMEs) are considered as an engine for economic growth all over the world and especially for developing countries. During the past decade, new product development (NPD) has increasingly been recognized as a critical factor in ensuring the continued survival of SMEs. On the other hand, the rapid rate of market and technological changes has accelerated in the past decade, so this turbulent environment requires new methods and techniques to bring successful new products to the marketplace. Virtual team can be a solution to answer the requested demand. However, literature have shown no significant differences between traditional NPD and virtual NPD in general, whereas NPD in SME’s virtual team has not been systematically investigated in developing countries. This paper aims to bridge this gap by first reviewing the NPD and its relationship with virtuality and then identifies the critical factors of NPD in virtual teams. The statistical method was utilized to perform the required analysis of data from the survey. The results were achieved through factor analysis at the perspective of NPD in some Malaysian and Iranian manufacturing firms (N = 191). The 20 new product development factors were grouped into five higher level constructs. It gives valuable insight and guidelines, which hopefully will help managers of firms in developing countries to consider the main factors in NPD. |
| Keywords: | Survey findings; new product development; factor analysis; virtual team |
| JEL: | O1 M11 M1 O32 L17 P42 O3 |
| Date: | 2010 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:26936&r=sea |