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on South East Asia |
| By: | Hiratsuka, Daisuke (Asian Development Bank Institute) |
| Abstract: | Production networks have been extensively developed in East Asia. Previous studies on production networks used international trade data or input–output tables, but such aggregate data cannot explain how the networks actually operate. With the aim of understanding the features and characteristics of East Asian production networks, this paper examines the procurement system of a hard disk drive assembler operating in Thailand. This micro-level case study found that this particular production network consists mostly of arm’s-length suppliers, who are independent and on an equal footing with the assembler. |
| Keywords: | east asian production networks; hard disk drive industry |
| JEL: | F14 F15 F23 |
| Date: | 2011–07–28 |
| URL: | http://d.repec.org/n?u=RePEc:ris:adbiwp:0301&r=sea |
| By: | Mohamad Fahmi (Department of Economics, Padjadjaran University); Achmad maulana (Department of Economics, Padjadjaran University); Arief Anshory Yusuf (Department of Economics, Padjadjaran University) |
| Abstract: | As a means to improve the school quality in Indonesia, Indonesian government introduced and encouraged two different kinds of programs: The International Standard Schools and Acceleration Class Program. Both programs are expected to contribute to improve the quality of education system in Indonesia. However, quantitative analysis to evaluate their impact on student’s performance is lacking in the literature. In this paper, we use the Difference in Difference method (DD) using the school data from Indonesian Family Life Survey (IFLS) to estimate the effectiveness of both programs in increasing school performance, measured by their national exam score. We then combined the cost data with this effectiveness measure to compare their cost-effectiveness. Our finding suggests that international standard school program is more effective to increase the math and bahasa score. However, in term of cost-effectiveness the result is mixed. International standard school is more cost-effective in increasing students score in bahasa, while acceleration class is more cost-effective in increasing students score in math subject. |
| Keywords: | Acceleration Class, International Standard School, Cost Effectiveness Analysis, Difference in Difference, Indonesia |
| JEL: | J31 |
| Date: | 2011–07 |
| URL: | http://d.repec.org/n?u=RePEc:unp:wpaper:201106&r=sea |
| By: | Richard C. K. Burdekin (Claremont McKenna College); Pierre L. Siklos (Wilfrid Laurier University and Hong Kong Institute for Monetary Research) |
| Abstract: | This paper applies a variety of short-run and long-run time series techniques to data on a broad group of Asia-Pacific stock markets and the United States extending to 2010. Our empirical work confirms the importance of crises in affecting the persistence of equity returns in the Asia-Pacific region and offers some support for contagion effects. Post-Asian financial crisis quantile regressions yield substantial evidence of long-run linkages between the Shanghai market, the US market and many regional exchanges. Cointegration is particularly prevalent at the higher end of the distribution. Our results suggest that the enormous growth of the Shanghai market in the new millennium has been accompanied a meaningful level of integration with other regional and world markets in spite of ongoing capital controls. |
| Keywords: | Stock Returns, Convergence, Crises, Asia-Pacific, China |
| JEL: | G15 |
| Date: | 2011–07 |
| URL: | http://d.repec.org/n?u=RePEc:hkm:wpaper:232011&r=sea |
| By: | Cˆmdric TILLE (Graduate Institute of International and Development Studies and Centre for Economic Policy Research and Hong Kong Institute for Monetary Research) |
| Abstract: | The current crisis has led to an unprecedented collapse in international capital flows, with substantial heterogeneity across regions. Asian economies were relatively unaffected, despite having been the center of the storm in the crisis of the late 1990s. The contraction in capital flows for Asian countries was limited to the most acute phase of the crisis following the collapse of Lehman Brothers, after which capital flows rebounded. We find that the stronger performance of Asia primarily reflects its more limited reliance on international banking compared to Europe and the United States. We find little evidence that the drivers of capital flows had a differentiated impact in Asia. Finally, we show that while higher initial levels of foreign reserves did not insulate countries from a turnaround in private capital flows, a larger use of reserves at the height of the crisis limited the contraction in gross private outflows. |
| Keywords: | International Capital Flows, Banking Integration, Crisis |
| Date: | 2011–07 |
| URL: | http://d.repec.org/n?u=RePEc:hkm:wpaper:202011&r=sea |
| By: | Kyoji Fukao; Toshihiro Okubo |
| Abstract: | This paper analyzes the impact of firm networks on Japan's national border effect. We estimate gravity equations using data on Japan's international and interregional trade in four machinery industries (electrical, general, precision and transportation machinery). The machinery sector is the most important manufacturing sector for exports and outward foreign direct investment (FDI) in Japan. By taking into account international as well as interregional firm networks, we find that ownership relations usually enhance exports from parent firms to establishment. Consequently we can explain 15% (7%, 1% and 0.5%) of the decline in Japan's border effect from 1980 to 1995 in precision (transportation, general electrical) machinery sector by the increase of international networks. |
| Keywords: | Gravity model, Border effect, Firm networks, Fragmentation |
| JEL: | F14 F17 F21 L14 |
| Date: | 2011–08 |
| URL: | http://d.repec.org/n?u=RePEc:hst:ghsdps:gd11-197&r=sea |
| By: | Shahram Salavati (Faculty of business administration, Islamic Azad University, Tonekabon Branch, Iran); Noor Hazarina Hashim (Faculty of Management and Human Resource Development, Universiti Teknologi Malaysia) |
| Abstract: | This study investigates website adoption and performance among Iranian hotels. Using content analysis technique, this study identifies the presence of 28 website features on 57 Iranian hotels. The results found Iranian hotels are at very early stage of Internet adoption. E-commerce activities are very minimal among the Iranian hotels as none of the hotels provide online reservation. This study adds to the limited study of e-commerce and hospitality in Iran. |
| Keywords: | E-tourism, Website, Evaluation, Hotel, Iran |
| JEL: | M0 |
| Date: | 2011–03 |
| URL: | http://d.repec.org/n?u=RePEc:cms:2icb11:2011-149&r=sea |
| By: | All Hafiez Abas; Henny Hazliza Mohd Tahir (Faculty of Accountancy, Universiti Teknologi Mara (Johor)); Muhd Kamil Ibrahim; Raudzah Roslan |
| Abstract: | The purpose of this paper is to examine the determinants of the ISO 9000 accreditation and value relevance in the Malaysian Property Sector. Using the property sector as the sample, an analysis is done on the characteristics of firms awarded with ISO 9000 accreditation and those with no accreditation from the same sector. Firms are categorized into two; ISO accredited and non ISO accredited, to gauge whether there are differences in the characteristics of firms in both categorized samples. Four characteristics; firm’s size, leverage, performance and maturity of firm are examined using the Logit analysis on data taken from 2009 annual reports. This paper is also to examine the factors that affect the value relevance of the company. Five variables; size, leverage performance, ISO 9000 accreditation and maturity of firm are examined using ordinary least square analysis on the same data |
| Keywords: | ISO 9000, property sector, value relevance |
| JEL: | M0 |
| Date: | 2011–03 |
| URL: | http://d.repec.org/n?u=RePEc:cms:2icb11:2011-142&r=sea |
| By: | Dr. Abdussalam Ismail Onagun (Islamic Financial Services Board (IFSB), Kuala Lumpur, Malaysia) |
| Abstract: | There are two elements important in formulating the solvency requirements of a Takaful undertaking namely the Takaful fund and Qard facility. It has been seen in some regulatory frameworks that the regulator puts a requirement on the Takaful operators to show that they are providing some financial support towards the solvency of the Takaful funds. This paper attempts to explain the measures involve the Takaful operator using their shareholders’ funds to provide financial back\ing to support the solvency of Takaful funds through the practices of Qard facility, injection of assets into the Takaful funds and assignment or allocation of assets in the shareholders in the Takaful funds. The paper will focus on the nature of Qard and its basis in the primary sources of Shariah. Is it acceptable legally to subordinate Qard in the case of deficit, deficiency or drawn down of Takaful fund? Finally, the paper will analyze the legal ruling related to Qard and how it is different to conventional insurance practices |
| Keywords: | Takaful fund, Qard facility, Takaful participants, Solvency, Subordinated Qard |
| JEL: | M0 |
| Date: | 2011–03 |
| URL: | http://d.repec.org/n?u=RePEc:cms:2icb11:2011-146&r=sea |
| By: | Shafinah Rahim (Faculty of Economics & Business, Universiti Malaysia Sarawak) |
| Abstract: | This research paper aims at understanding what Economic Degree undergraduates of a public university recognize the recent New Economic Model (NEM) as and perhaps interpret given certain issues posed to them. Throughout the three month period of written assignment and optional bi-weekly consultation, each of the 64 respondents were asked to review the NEM report and identify key areas they considered to be of high priority at present. They were allowed to share ideas but advised to provide preferably own reasons to support their thoughts. It is timely to conduct studies related to the NEM in general as the successful implementation of this broad-based economic policy depends on the continuous feedback from all stakeholders. Findings of the current project are expected to shed light on how the young generation perceive of the NEM as well as their prospective attitude towards its execution |
| Keywords: | NEM, graduates, understanding, expectation, attitude |
| JEL: | M0 |
| Date: | 2011–03 |
| URL: | http://d.repec.org/n?u=RePEc:cms:2icb11:2011-143&r=sea |
| By: | Chongvilaivan, Aekapol (Institute of Southeast Asian Studies); Powdthavee, Nattavudh (Nanyang Technological University, Singapore) |
| Abstract: | This paper is an empirical study of slope heterogeneity in job satisfaction. It provides evidence from the generalized ordered probit models that different job characteristics tend to have different distributional impacts on the overall job satisfaction. For instance, standard models tend to significantly underestimate the effects of monthly salary and hours worked at generating the "highly" satisfied workers, whilst lowering the incidence of the "very dissatisfied" workers. Although our results should be viewed as illustrative, we provide discussions of their potential implications for employers and they could help with the design of employment contracts. |
| Keywords: | generalized ordered probit, employment contract, heterogeneity, job satisfaction, salary, work-life balance |
| JEL: | J53 D61 |
| Date: | 2011–07 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp5868&r=sea |
| By: | Clemens Haftendorn; Claudia Kemfert; Franziska Holz |
| Abstract: | Because of economic growth and a strong increase in global energy demand the demand for fossil fuels and therefore also greenhouse gas emissions are increasing, although climate policy should lead to the opposite effect. The coal market is of special relevance as coal is available in many countries and often their first choice to meet energy demand. In this paper we assess possible interactions between climate policies and the global steam coal market. Possible market adjustments between demand centers through market effects are investigated with a numerical model of the global steam coal market until 2030: the "COALMOD-World" model. The COALMOD-World model is an equilibrium model that computes future trade flows, infrastructure investments and prices until 2030. We investigate three specific designs of climate policy: a unilateral European climate policy, an Indonesian export-limiting policy and a carbon capture and storage (CCS) fast-roll out policy in the broader context of climate policy and market constraints. We find that market adjustment effects in the coal market can have significant positive and negative impacts on the effectiveness of climate policies. |
| Keywords: | climate policy, future coal production, energy, numerical modeling, international trade |
| Date: | 2011 |
| URL: | http://d.repec.org/n?u=RePEc:diw:diwwpp:dp1146&r=sea |
| By: | Hall, Viv B; McDermott, C John |
| Abstract: | We use unobserved components methodology to establish an Australasian common cycle, and assess the extent to which region-specific cycles of Australian States and New Zealand are additionally important. West Australian and New Zealand region-specific growth cycles have exhibited distinctively different features, relative to the common cycle. For every Australasian region, the region-specific cycle variance dominates that of the common cycle, in contrast to findings for U.S. BEA regions and prior work for Australian States. The distinctiveness of New Zealand’s output and employment cycles is consistent with New Zealand retaining the flexibility of a separate currency and monetary policy, for periods when significant region-specific shocks occur. |
| Keywords: | Australasian common cycle, regional cycles, Unobserved components, common currency, New Zealand, Australia, |
| Date: | 2011–03–11 |
| URL: | http://d.repec.org/n?u=RePEc:vuw:vuwecf:1548&r=sea |
| By: | Powdthavee, Nattavudh (Nanyang Technological University, Singapore) |
| Abstract: | This paper tests whether there is a potential payoff to grandparenthood in terms of life satisfaction. Using the new nationwide survey for the UK, which consists of over 5,000 grandparents and 6,000 non-grandparents aged 40 and above, and a flexible multiple-index ordered probit model with varying thresholds, we find that being a grandparent to at least one grandchild is associated positively and statistically significantly with individuals reporting to be very satisfied with life overall. Parents with no grandchildren are no more satisfied with life compared to non-parents of the same age. The findings suggest that even though children may not contribute significantly to parents' satisfaction with life overall, there may well be long-term benefits to having children, provided that our children go on and have children of their own. |
| Keywords: | life satisfaction, grandparenthood, grandchildren, generalized ordered probit, understanding society, happiness |
| JEL: | J13 |
| Date: | 2011–07 |
| URL: | http://d.repec.org/n?u=RePEc:iza:izadps:dp5869&r=sea |