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on South East Asia |
| By: | Takuya Yamamoto; Takeshi Sakurai |
| Abstract: | This paper analyzes the spillover effects of foreign companies' FDI on local companies, taking examples of public food companies in 4 Asian countries/areas namely Thailand, Malaysia, Hong Kong, and China. The analyses confirm spillover effects in food industry in Thailand, and reveal that the effects are stronger in the case of "domestic-market oriented FDI" than in the case of "export-oriented FDI." Moreover, it is found that domestic-market oriented FDI reduces the share of export in total sales in Thai food industry. Small domestic market may have caused the insignificant spillover effects in food industry in Malaysia and Hong Kong, where local companies have lost their market share due to foreign companies. As for beverage industry, insignificant spillover effects may be attributed to the fact that beverage industry is more capital intensive than food industry and the technological gap with developed countries is smaller. |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:hst:ghsdps:gd12-288&r=sea |
| By: | Yoshitaka Yamazaki (International University of Japan) |
| Abstract: | The purpose of this study is to find out what competencies are adaptively necessary for Asian managers of host country nationals (HCNs) who effectively work for subsidiaries of Japanese multinational corporations. A uniqueness of this study describes a qualitative approach conducted through interviews with Japanese, Chinese, Hong Kong, Malaysian, and Thai managers. A total of research participants were 267 from a leading Japanese MNC that has been strategically expanding Asia including those countries. Qualitative data analysis of the present study found 12 key competencies, yielding two kinds of competency models: the hierarchical model and the contextual human function model, which are commonly applicable for Asian managers demanded for effective organizational performance. Furthermore, this study also identified distinctive competencies needed for particular countries as being contextually specific, suggesting each country may require using these competencies to meet different environmental demands that exist across Asian countries. |
| Keywords: | skills, skill demands, qualitative approach, host country nationals, Asia, Japanese multinationals |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:iuj:wpaper:ems_2013_04&r=sea |
| By: | Aoki-Okabe, Maki |
| Abstract: | Thai foreign policy in the 1990s has been said to be contingent on the government in power, which changes between (or within) these groups and vacillates between pro-democratic reformists/principle-pursuers and the conservatives/profit-seekers. In these studies, Thailand’s Indochinese policy has often been referred to as a typical consequence of politics between the pragmatists and the reformists. However, whether or not domestic oppositional politics is the key determinant of foreign policy in the post-Cold War era still requires further examination, precisely because the model is now facing serious challenges between theory and reality. In this paper, I review the existing arguments concerning Thailand’s foreign policy in the post-Cold War Era and point out their limitations and questions for future study. |
| Keywords: | Thailand, Foreign policy, Democratization, Globalization |
| JEL: | H1 N45 |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:jet:dpaper:dpaper405&r=sea |
| By: | Dopart, Alethea; Wodon, Quentin |
| Abstract: | This paper on comprehensive education is one of five background thematic papers prepared for the Global Youth Forum of the International Conference on Population and Development Beyond 2014 Review. The forum was organized by UNFPA in Bali (Indonesia) on December 4-6, 2012. The paper reviews the progress to date towards education and learning for all, as well as some of the challenges that remain. |
| Keywords: | Education for all; Learning for all |
| JEL: | I25 |
| Date: | 2012–11 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:45356&r=sea |
| By: | Nguyen, Binh Giang |
| Abstract: | In this paper, the author would like to uncover challenges to Cambodia-Laos-Vietnam Development Triangle and suggest key policies to address them. The first section of this paper will give an introduction on the Vietnam provinces (VDTA) of CLV-DTA. The second section will present the market potential within the Vietnamese area of CLV-DTA. Cross-border trade through border crossings between VDTA provinces and Cambodian member provinces (CDTA), Lao member provinces (LDTA) as well as transport corridors for shipping goods will be discussed in this part. In the third section, challenges will be pointed out. It would be a shortcoming if this section mentioned only challenges but not the development potential that would help address these challenges. At the conclusion of this paper, the author will summarize the findings and suggest selected policies. |
| Keywords: | Cambodia, Laos, Vietnam, border area development, growth triangle, cross-border integration |
| JEL: | F10 F22 F53 Q10 Q20 Q40 R00 |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:45732&r=sea |
| By: | Robin Burgess; Matthew Hansen; Benjamin Olken; Peter Potapov; Stefanie Sieber |
| Abstract: | Tropical deforestation accounts for almost one-Öfth of greenhouse gas emissions worldwide and threatens the worldís most diverse ecosystems. The prevalence of illegal forest extraction in the tropics suggests that understanding the incentives of local bureaucrats and politicians who enforce forest policy may be critical to combating tropical deforestation. We Önd support for this thesis using a novel satellite-based dataset that tracks annual changes in forest cover across eight years of institutional change in post-Soeharto Indonesia. Increases in the numbers of political jurisdictions are associated with increased deforestation and with lower prices in local wood markets, consistent with a model of Cournot competition between jurisdictions. We also show that illegal logging and rents from unevenly distributed oil and gas revenues are short run substitutes, but this e§ect disappears over time as political turnover occurs. The results illustrate how incentives faced by local government o¢ cials a§ect deforestation, and provide an example of how standard economic theories can explain illegal behavior. |
| Date: | 2012–04 |
| URL: | http://d.repec.org/n?u=RePEc:lsg:lsgwps:wp79&r=sea |
| By: | Kuroiwa, Ikuo; Tsubota, Kenmei |
| Abstract: | We examine changes in the location of economic activity in Cambodia between 1998 and 2008 in terms of employment growth. During this period, Cambodia joined ASEAN and increased trade with neighboring countries. Drawing on the predictions of the new economic geography, we focus on frontier regions such as border regions and international port cities. We examine the changing state of manufacturing in Cambodia from its initial concentration in Greater Phnom Penh to its growth in the frontier regions. The results suggest that economic integration and concomitant trade linkages may lead to the industrial development of frontier regions as well as the metropolitan areas in Cambodia. |
| Keywords: | Cambodia, International economic integration, International trade, Economic geography, Economic integration, Trade liberalization, Frontier regions |
| JEL: | F15 F16 R12 |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:jet:dpaper:dpaper399&r=sea |
| By: | Katsushi S. Imai (Economics, School of Social Sciences, University of Manchester (UK) and RIEB, Kobe University (Japan)); Raghav Gaiha (Department of Urban Studies and Regional Planning, MIT, Cambridge, USA); Ganesh Thapa (International Fund for Agricultural Development, Rome, Italy); Samuel Kobina Annim (University of Manchester, UK) |
| Abstract: | Building on the recent literature on finance, growth and hunger, we have examined the experience of Asian countries over the period 1960-2010 by dynamic and static panel data models. We have found evidence favouring a positive role of finance - defined as private credit by banks - on growth of GDP and agricultural value added. Private credit as well as loans from the World Bank significantly reduces undernourishment, while remittances and loans from microfinance institutions appear to have a negative impact on poverty. Our empirical evidence shows that growth performance was significantly lower during the recent global financial crisis than non-crisis periods, though the severity is much smaller during the recent financial crisis than Asian financial crisis. |
| Keywords: | Finance, Economic Development, Agriculture, Inequality, Poverty, Asia |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:kob:dpaper:dp2013-10&r=sea |
| By: | Sirimal Abeyratne (International University of Japan) |
| Abstract: | Close economic ties and virtual 'free trade' between the small island economy of Sri Lanka and its growing big neighbor - India, appear to have created scope for the former to integrate into the supply chains of the latter. The paper is aimed at studying whether Sri Lanka has been integrating into the Indian manufacturing processes in line with emerging trade patterns based on 'global product sharing'. In spite of popular perceptions about the deeper integration of Sri Lanka into Indian supply chains, the study suggests that Indo-Lanka Free Trade Agreement (FTA) has not led to a breakthrough in the 'old style' trade integration between the two countries. While Sri Lanka's trade expansion under the FTA has brought about peculiar outcomes, the country's integration to Indian manufacturing processes has performed slowly and continued to remain weak. The specific policy issues related to Indo-Lanka FTA itself and to the bilateral trade expansion appear to have hindered their productsharing. Generally, trade and growth patterns in both Sri Lanka and India are different from the experience of East and Southeast Asian countries which created opportunities to accommodate the formation of globalized supply chains of fragmented manufacturing processes. The study draws out conclusions and inferences with policy relevance for bilateral trade, while notifying the danger of bilateral 'free trade' against rising protectionism. |
| Date: | 2013–04 |
| URL: | http://d.repec.org/n?u=RePEc:iuj:wpaper:ems_2013_05&r=sea |
| By: | Nguyen Viet, Cuong |
| Abstract: | This paper aims to measure the poverty dynamics in Vietnam using the most recent Vietnam Household Living Standard Survey in 2010. Since, there are no panel data between the 2010 VHLSS and the previous studies, the study uses the asset approach of Carter and May (1999, 2001) to estimate the proportion of the structurally and stochastically poor. It is found that the proportion of the structurally and stochastically poor is 11.1 percent and 9.6 percent, respectively. Nearly half of the poor are the stochastically poor. The proportion of the stochastically non-poor, who are non-poor but vulnerable to poverty, is small, at around 3.7 percent. |
| Keywords: | Poverty dynamics, household survey, Vietnam |
| JEL: | I3 I32 |
| Date: | 2012–05–22 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:45738&r=sea |
| By: | Nguyen Viet, Cuong |
| Abstract: | This paper examines the poverty and inequality pattern, income and characteristics of households in the Program 135-II communes – the poorest areas in Vietnam. The poverty incidence decreased from 57.5 percent to 49.2 percent during the period 2007-2012. Although the poverty incidence decreased, the poverty gap and severity indexes of households in the Program 135-II areas did not decrease during 2007-2012. The decomposition analysis shows that the reduction of the poverty incidence in the poorest communes was achieved by the income growth. The inequality increased, thereby slightly raising the poverty incidence. Poverty is sensitive to economic growth. However, the elasticity of poverty with respect to income growth tends to decrease overtime. It means that income redistribution plays a very important role in decreasing the poverty gap and poverty severity. |
| Keywords: | Ethnic minority; household income; poverty; decomposition, Vietnam |
| JEL: | I3 I31 I32 |
| Date: | 2012–11–20 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:45737&r=sea |
| By: | HAYAKAWA Kazunobu; MATSUURA Toshiyuki |
| Abstract: | This paper empirically explores the reason why a recent surge of foreign direct investment (FDI) to developing countries has been mainly driven by less productive firms. To this end, we present a simple model of FDI with vertical division of labor in a heterogeneous firm framework. From a theoretical point of view, in countries with low unskilled worker wages and low trade costs, firms with high productivity invest abroad and engage in international division of labor. Moreover, if trade costs have further reduced, the productivity cut-off level becomes lower and firms within the middle range of productivity will start investing in low wage countries. Our empirical analysis using logit estimation or a multinomial logit model of Japanese firms' FDI choices reveals that a reduction in tariff rates attracts even less productive vertical foreign direct investment (VFDI) firms. This result is consistent with a different definition of VFDI. Because developing countries, particularly East Asian countries, have experienced a relatively rapid decrease in tariff rates, our results indicate that the increase in VFDI through tariff rate reduction has led to the recent relative surge of FDIs in developing countries. |
| Date: | 2013–03 |
| URL: | http://d.repec.org/n?u=RePEc:eti:dpaper:13020&r=sea |
| By: | Jiranyakul, Komain |
| Abstract: | Stock market return is one of financial variables that contain information to forecast real activity such as industrial production and real GDP growth. However, it is still controversial that stock market return can have a predictive content on real activity. This paper attempts to investigate the ability of stock market return to predict industrial production growth (or real activity) in Thailand, which is an emerging market economy. The standard causality test and the equal forecast evaluation of nested models are employed. For the purpose of forecasting, the data are divided into two periods: the data for the in-sample and the out-of-sample periods. The test of equal forecasting ability is also used. Using monthly data from January 1993 to December 2011, it is found that the model augmented with stock return variable outperforms the benchmark model in the forecast horizon of two months. The results seem to support the notion that stock market return is a predictor of industrial output growth in the short run. Moreover, the standard Granger causality test using the in-sample data also supports this notion. The findings offers a useful insight to investors, financial managers and policymakers on the role of stock market return in forecasting real economic activity. Specifically, a change in stock market return is a signal for revising investment decision by investors and portfolio managers. |
| Keywords: | Stock return, real activity, emerging market, forecasting, causality |
| JEL: | C14 C22 E44 |
| Date: | 2012–12 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:45670&r=sea |
| By: | Takanori Fukushima; Nobuyuki Isagawa (Graduate School of Business Administration, Kobe University); Tomohiro Mae; Satoru Yamaguchi (Hiroshima University of Economics); Takashi Yamasaki (Graduate School of Business Administration, Kobe University) |
| Abstract: | This paper aims to introduce new evidence of consistently negative impacts on enterprise value when corporations increase real estate holdings. Adopting a different approach from previous studies, our data analysis shows that corporate real estate portfolios and enterprise value share an inverse relationship. Surprisingly, this trend was seen during the Japanese real estate bubble in the late 1980fs. Previous reports from the United States and Singapore show that only in the retail sector do increases in corporate real estate holdings have a positive influence on stock performance. However, our research indicates that the stock performance of Japanese firms in the retail sector was negative across the board for firms in other sectors. |
| Keywords: | Corporate real estate, Stock performance, Systematic risk, Stock market |
| Date: | 2013–01 |
| URL: | http://d.repec.org/n?u=RePEc:kbb:dpaper:2013-03&r=sea |