nep-sea New Economics Papers
on South East Asia
Issue of 2015‒07‒25
37 papers chosen by
Kavita Iyengar
Asian Development Bank

  1. The role of monetary policy in macroeconomic volatility of ASEAN-4 countries against oil price shock over time By Razmi, Fatemeh; Mohamed, Azali; Chin, Lee; Habibullah, Muzafar Shah
  2. The integration by trade and FDI of emerging economies: The Asian example By Magasházi, Anikó
  3. Financing Vietnam's Response to Climate Change By Vietnam Ministry of Planning and Investment; World Bank Group; United Nations Development Programme
  4. Financing Vietnam's Response to Climate Change By Vietnam Ministry of Planning and Investment; World Bank Group; United Nations Development Programme
  5. Indonesia Still Want To Vote By Edbert Gani; Praticko Genio; Arief Nugraha
  6. A Comparative Study of Thai and Laos Temple Festival Dress By Jaruphan Supprung
  7. Rural Sanitation Market Expansion of Domestic Private Sector in Indonesia By World Bank
  8. Strengthening the Indonesia National Water and Sanitation Information Services Center for Improved Planning By World Bank
  9. Comparison of Static and Dynamic Analyses on Exchange Rate Regimes in East Asia By Yoshino, Naoyuki; Kaji, Sahoko; Asonuma, Tamon
  10. Productivity lessons for the Asian region By Jungsoo Park, Lawrence Lau
  11. Safe and Resilient Infrastructure in the Philippines By World Bank Group
  12. Can Firms with Political Connections Borrow More Than Those Without? Evidence from firm-level data for Indonesia By FU Jiangtao; SHIMAMOTO Daichi; TODO Yasuyuki
  13. Can minimum wages close the gender wage gap ? evidence from Indonesia By Hallward-Driemeier,Mary C.; Rijkers,Bob; Waxman,Andrew R.
  14. A Study of Low Cost Carriers (LCCs) in Hong Kong By Ming kei CHING
  15. Republic of the Philippines - Improving Bureaucratic Performance By World Bank
  16. Malaysia Economic Monitor, June 2015 By World Bank
  17. The Spatial Pattern of Economic Rents of An Airport Development Area: Lessons Learned from the Suvarnabhumi International Airport, Thailand By Chakarin Bejrananda; Yuk Lee; Thanchanok Khamkaew
  18. Global-value-chains participation and industrial upgrading in Asian developing economies By Taguchi, Hiroyuki; Lar, Ni
  19. What are the International Channels Through Which a US Policy Shock is Transmitted to The World Economies? Evidence from a Time Varying FAVAR By Anastasios Evgenidis; Costas Siriopoulos
  20. Students’ Project-Based Learning: Local Commercial Products and Marketing Mix By KRONGTHONG KHAIRIREE; CHONNART MEENANUN
  21. Missing Men: Differential Effects of War and Socialism on Female Labour Force Participation in Vietnam By Merle Kreibaum; Stephan Klasen
  22. Thai Animation At A Crossroads By Niracharapa Tongdhamachart
  23. Services Sector Development and Improving Production Network in ASEAN By Yose Rizal Damuri
  24. Australia's Foreign Investment Regime and the Need For Reform By East Asian Bureau of Economic Research
  25. From Wisdom to Business: A Case Study of an Application of Singburi Pottery Design for OTOP Label and Packaging in Thailand By Suwaree Yordchim; Rosjana Chandhasa
  26. Organophosphate pesticide levels in urine of farmers planting mimosa and people living in the nearby area. Asst. Prof. Dr. Pensri Watchalayann, Faculty of Public Health, Thammasat University, 12121 Thailand (E-mail: By Pensri Watchalayann; Chudanat Pakasukpaiboon
  27. Sustainable Tourism Development Planning in Klong-Blab village, Surat Thani Province Thailand By URAI BUTTHONGDEE
  28. Cambodia Sanitation Marketing By World Bank
  29. Prosperity, sustainability and the measurement of wealth By Kevin Mumford
  30. State and Needs in Using Digital Instruction for Environmental Subject of Primary Schools in Surat Thani Province By Chuleewan Praneetham
  31. Global Imbalances: "Made in the USA" or "Made in China"? By Tania El Kallab
  32. Institutional and Regulatory Assessment of the Extractive Industries in Myanmar By Adam Smith International
  33. Quality benchmarks for Open & Distance learning system for higher education By Radhe Shyam Sharma
  34. Determinants of Trade in Parts and Components: An Empirical Analysis By Alicia Garcia-Herrero
  35. “Economic development” and gender equality: explaining variations in the gender poverty gap after socialism By Eva Fodor; Daniel Horn
  36. Concessional financing windows or the need to reform the magic triangle By Benoît CHERVALIER
  37. Online Appendix to "Productivity Growth and Structural Transformation" By Roberto Samaniego; Juliana Sun

  1. By: Razmi, Fatemeh; Mohamed, Azali; Chin, Lee; Habibullah, Muzafar Shah
    Abstract: This paper examines the impact of oil price, as a cause of economic crisis, and monetary policy through the four known channels of monetary transmission mechanism (interest rate, exchange rate, domestic credit, and stock price). Using a structural vector autoregression model based on monthly data from 2002 to 2013 for Association of Southeast Asian Nations-4 countries, oil price and monetary transmission channels are compared pre- and post-crisis. The result indicates oil price remains an important factor in explaining price volatility, even though oil price has a weaker effect compared to a stronger effect of monetary transmission mechanism on prices. Stock price for Malaysia and domestic credit for the three others can affect the prices against oil price shock. Unlike prices, the output of all countries except Thailand is more affected by oil price post-crisis compared to pre-crisis. Different monetary transmission tools affecting industrial production are compared for the four countries.
    Keywords: monetary transmission, global financial crisis, oil price shock
    JEL: E52 Q43
    Date: 2015–07
  2. By: Magasházi, Anikó
    Abstract: The paper investigates the role of regionalization and regional identity in the endeavours of emerging economies to connect successfully to the global world economy. It addresses the question of whether the Association of Southeast Asian Nations (ASEAN), with its loose institutional integration framework, has contributed to the global integration of its very heterogenous members in the first decade of the 21st century – and, if so, what are the drivers behind this. The paper summarizes connecting theories, using a multidisciplinary approach, and uses descriptive statistical analysis to identify the achievements of the ASEAN-6 countries within global trade and foreign direct invesment (FDI) flows in the given time period. We suggest that ASEAN countries, with their efforts to initiate interconnecting regional organizations in Asia, most specifically the ASEAN+3 (APT) construction, did contribute to greater integratedness of member countries; and they have created a regional image with a common market and production base. Such achievements, however, can be in great part attributed to the micro-level activities of international and regional firms wishing to establish cross-border production networks in these countries.
    Keywords: ASEAN, regional integration, FDI, production networks
    JEL: F13 F15
    Date: 2015
  3. By: Vietnam Ministry of Planning and Investment; World Bank Group; United Nations Development Programme
    Keywords: Environment - Climate Change Mitigation and Green House Gases Macroeconomics and Economic Growth - Climate Change Economics Energy - Energy Production and Transportation Environmental Economics Policies Science and Technology Development - Science of Climate Change
    Date: 2015–04
  4. By: Vietnam Ministry of Planning and Investment; World Bank Group; United Nations Development Programme
    Keywords: Environment - Climate Change Mitigation and Green House Gases Macroeconomics and Economic Growth - Climate Change Economics Energy - Energy Production and Transportation Science and Technology Development - Science of Climate Change Environment - Adaptation to Climate Change
    Date: 2015–05
  5. By: Edbert Gani (University of Indonesia); Praticko Genio (University of Indonesia); Arief Nugraha (University of Indonesia)
    Abstract: Indonesia is a country that puts the elections as fundamental to reflect the country's democracy. This is shown by the regulation of elections in the state constitution (UUD 1945) which is the basic law of the state. In Suharto's authoritarian regime (called New Order), Indonesia also held regular elections. The existence of regular elections is used as a tool in countries such as Indonesia to show the world that the democratic system has existed in this country. Procedurally democratic elections marked by still survive up until the time of the current reform. But if we want to see democracy substantially, then there needs to be more in-depth research about itIn 2004, Indonesia recorded an achievement in terms of democratization. In that time, Indonesia for the first time can select the president and vice president directly. This achievement was followed by doing direct local elections. Quite revolutionary change occurs only six years since the reform carried out Suharto's authoritarian regime.At the end of 2014 there were intense debates in Indonesia about local elections. Indonesia is a country that is very much holding elections because people have to choose from the level of the central government, provincial, city and county up. During this time to select the area of the district and provincial level conducted through direct elections. This began in 2004 with the issuance of Law (UU) No. 32 of 2004 which regulates the election of Regional Head directly. In 2014, the problem arises because the House intends to revise that law. This is done by issuing a bill on local elections that convert directly to indirectly elections again. Local elections at the provincial level are returned to the mechanism covered by parliament while the district level fixed by direct electionOutside of the debate about the interests of the relevant political actors with the election system, there are other important things that need to be answered in this problem. When we look to other democratic countries in the world, actually local elections do not have to be directly. The United States is an example where the local elections conducted indirectly. The main question of our paper is how importance a direct local elections with the quality of democracy in a country such as Indonesia. Whether significant or does not.
    Keywords: Local elections, democracy, Indonesia
    JEL: D72 N95
  6. By: Jaruphan Supprung (Suan Sunandha Rajabhat University)
    Abstract: Aims of this research were to study Thai Buddhist temple festivals and Laos temple festivals, to compare Thai Buddhist temple festival dress with Laos temple festival dress, and to create the knowledge which can be useful for Thai attitudes and cultural perceptions, especially for Thai children and youth. The findings of the research disclosed that there are four temple festivals of Thai Buddhists in Thailand, namely Songkran Festival, Buddhist Lent Festival, Sart Thai Festival and End of Buddhist Lent Festival. There are five temple festivals of Laos Buddhists, namely Boun Ok Phansa Festival, Boun Pha Vet Festival, Boun Pi Mai Festival, Boun Khao Pradabdin Festival and Boun Khao Salak Festival. Thai Songkran Festival is similar to Boun Pi Mai Festival in Laos. Both are the celebration of new year. Sart Thai Festival has the same purpose as those of Laos, Boun Khao Pradabdin Festival and Boun Khao Salak Festival in marking merit traditions and honoring Ghosts and Ancestors. Boun Ok Phansa Festival in Laos is the same as End of Buddhist Lent Festival in Thailand, the Buddhists calebrate them by offering foods and other neccessories to monks. However, there are two temple festivals that are not alike. In Thailand, Buddhist Lent Fastival is a popular time for young thai men to ordained as a Buddhist monk. In Laos, Boun Pha Vet Festival is the celebration of the birth of Prince Vessanthara or Pha Vet, The Buddha’s penultimate existence. For temple festival dress, the two countries are alke : Buddhist men in Thailand and Laos wear stand-up collar, spread collar or round neck, hip-length shirts with long pants, loincloths or sarongs. Buddhist women in Thailand and Laos wear round neck, long or short sleeves blouses, and maxi tube skirts.
    Keywords: Temple festival dresses, Thai Buddhists, Laos Buddhists.
    JEL: I29
  7. By: World Bank
    Keywords: Health Monitoring Evaluation Water Supply and Sanitation - Hygiene Promotion and Social Marketing Housing Human Habitats Health, Nutrition and Population - Health and Sanitation Finance and Financial Sector Development - Access to Finance Communities and Human Settlements
    Date: 2015–04
  8. By: World Bank
    Keywords: Education - Knowledge for Development Private Sector Development - E-Business Information and Communication Technologies Language Communication Culture and Development
    Date: 2015–03
  9. By: Yoshino, Naoyuki (Asian Development Bank Institute); Kaji, Sahoko (Asian Development Bank Institute); Asonuma, Tamon (Asian Development Bank Institute)
    Abstract: This paper compares three methods of analyzing exchange rate regimes in East Asia: static analysis, conventional dynamic analysis, and dynamic transition analysis. First we provide quantitative results that both estimated parameters for Thailand and time intervals are applied symmetrically across the three approaches. Our comparable simulation results illustrate how these three analyses are mutually related. Comparisons across the three methods demonstrate limitations of the static and conventional dynamic analyses where exchange rate regimes remain unchanged over the analysis horizon. Moreover, we emphasize three advantages of the dynamic transition analysis over the static and conventional dynamic analyses in that shifts from the current regime to alternative regimes are contrasted with a benchmark case of maintaining the current regime over the analysis horizon.
    Keywords: exchange rate regimes; dynamic transition analysis; capital account management; exchange rate stability
    JEL: F33 F41 F42
    Date: 2015–07–13
  10. By: Jungsoo Park, Lawrence Lau
    Abstract: This study investigates how the patterns of productivity growth have changed over the past few decades for the Asian economies in comparison with the advanced economies. The findings indicate that the Asian economies are in the process of transition in terms of pattern of growth. It seems that the 4 NIEs have already transitioned from input-based growth to productivity-based growth, and the remaining Asian economies are starting to show signs of transition in the past decade. Scrutinizing the recent trends in human capital, R&D, patent statistics, and inward FDIs, they all indicate that the productivity growth will be stronger in the Asian region than before and will constitute the major basis for growth.
    Keywords: total factor productivity, Asian economies, economic growth
    JEL: O47 O57
    Date: 2015–04
  11. By: World Bank Group
    Keywords: Industry - Construction Industry Urban Development - Hazard Risk Management Science and Technology Development - Engineering Environment - Natural Disasters Conflict and Development - Disaster Management
    Date: 2014–08
  12. By: FU Jiangtao; SHIMAMOTO Daichi; TODO Yasuyuki
    Abstract: Using unique firm-level data for manufacturing sectors in Indonesia, we examine how political and economic connections of firms affect their access to finance. We identify the political connections of a particular firm by whether the government owns its shares, whether politicians are on its board of directors, and whether its highly-ranked manager knows any politician personally. We find that politically connected firms are more likely to be able to borrow from state-owned banks. Moreover, being connected to the government raises the probability of being able to borrow as much as needed without any credit constraint. The financial benefit from political connections is more prominent for small and medium enterprises (SMEs) than for large firms. Furthermore, the benefit mostly comes from personal connections with politicians, rather than more formal connections as measured by government ownership or politicians on the boards of directors.
    Date: 2015–07
  13. By: Hallward-Driemeier,Mary C.; Rijkers,Bob; Waxman,Andrew R.
    Abstract: Using manufacturing plant-level census data, this paper demonstrates that minimum wage increases in Indonesia reduced gender wage gaps among production workers, with heterogeneous impacts by level of education and position of the firm in the wage distribution. Paradoxically, educated women appear to have benefitted the most, particularly in the lower half of the firm average earnings distribution. By contrast, women who did not complete primary education did not benefit on average, and even lost ground in the upper end of the earnings distribution. Minimum wage increases were thus associated with exacerbated gender pay gaps among the least educated, and reduced gender gaps among the best educated production workers. Unconditional quantile regression analysis attests to wage compression and lighthouse effects. Changes in relative employment prospects were limited.
    Keywords: Labor Markets,Economic Theory&Research,Wages, Compensation&Benefits,Labor Policies,Gender and Development
    Date: 2015–07–13
  14. By: Ming kei CHING (HKCC)
    Abstract: This main purpose of this study is to begin a preliminary investigation into low cost carriers (LCCs) models and explore more insights about their specific approaches and development in the region with focus on Hong Kong. After carrying out critical reviews on the LCCs operations in USA, Europe as well as other successful experience in the Asia Pacific region including Japan and Malaysia, a more detail analysis would be made in Hong Kong with particular reference to its unique environment and close proximity with PRC. Based on several case studies, key characteristics are identified and several significant factors are revealed and then discussed. In particular, the development of airport infrastructure as well as high speed rail (HSR) might also have an impact to the LCCs development in Hong Kong and could be further examined.
    Keywords: Low Cost Carrier, LCC, Hong Kong,
    JEL: L93
  15. By: World Bank
    Keywords: Public Sector Economics Tertiary Education Social Protections and Labor - Labor Markets Education - Primary Education Private Sector Development - E-Business Public Sector Development
    Date: 2014–06
  16. By: World Bank
    Keywords: Roads and Highways Performance Transport Environment - Environmental Economics & Policies Finance and Financial Sector Development - Banks & Banking Reform Transport - Transport Economics Policy & Planning Urban Development - Transport in Urban Areas
    Date: 2015–06
  17. By: Chakarin Bejrananda (College of Architecture and Planning, University of Colorado-Denver); Yuk Lee (College of Architecture and Planning, University of Colorado-Denver); Thanchanok Khamkaew (Faculty of Economics, Maejo University)
    Abstract: With the rise of the importance of air transportation in the 21st century, the role of economics in airport planning and decision-making has become more important to the urban structure and land value around it. Therefore, this research aims to examine the relationship between an airport and its impacts on the distribution of urban land uses and land values by applying the Alonso’s bid rent model. The New Bangkok International Airport (Suvarnabhumi International Airport) was taken as a case study. The analysis was made over three different time periods of airport development (after the airport site was proposed, during airport construction, and after the opening of the airport). The statistical results confirm that Alonso’s model can be used to explain the impacts of the new airport only for the northeast quadrant of the airport, while proximity to the airport showed the inverse relationship with the land value of all six types of land use activities through three periods of time. It indicates that the land value for commercial land use is the most sensitive to the location of the airport or has the strongest requirement for accessibility to the airport compared to the residential and manufacturing land use. Also, the bid-rent gradients of the six types of land use activities have declined dramatically through the three time periods because of the Asian Financial Crisis in 1997. Therefore, the lesson learned from this research concerns about the reliability of the data used. The major concern involves the use of different areal units for assessing land value for different time periods between zone block (1995) and grid block (2002, 2009). As a result, this affect the investigation of the overall trends of land value assessment, which are not readily apparent. In addition, the next concern is the availability of the historical data. With the lack of collecting historical data for land value assessment by the government, some of data of land values and aerial photos are not available to cover the entire study area. Finally, the different formats of using aerial photos between hard-copy (1995) and digital photo (2002, 2009) made difficult for measuring distances. Therefore, these problems also affect the accuracy of the results of the statistical analyses.
    Keywords: Economic rents, Airport development area, Spatial pattern, Thailand
    JEL: O18 R58 R28
  18. By: Taguchi, Hiroyuki; Lar, Ni
    Abstract: Asian economies have been and will be a growth center in the world. One of the driving forces for Asian economic growth seems to be their economic integration through forming global value chains (hereafter GVCs) especially in manufacturing sectors. This chapter aims to investigate the dynamic economic impacts of GVCs participation in Asian developing economies from the following two analytical angles. Since the creation of GVCs usually involves the prevailing foreign direct investment (hereafter FDI) undertaken by transnational corporations, we first examined the impacts of FDI on the growth of GDP and exports focusing on ASEAN economies including latecomers and forerunners in their economic developments, by conducting causality tests in the vector auto-regression model. The analytical outcomes represented the clear causality from FDI to GDP and exports as well as the opposite causality from GDP and exports to FDI for a group of ASEAN economies, although individual economies has different causality relations. It implied that FDI has been a driving force for economic growth through capital accumulation and technological transfers, while FDI inflows have been attracted to the growing economies and markets. It should also be noted that the significant causality from FDI to exports might imply that the inward FDI has facilitated the GVCs participation in Asian economies. We second examined the economic impacts of GVCs participation by analyzing the value-added-trade data in Asian developing economies. We observed that the GVCs participation in manufacturing sectors has allowed the absolute domestic value added for their exports to contribute to their GDP growth. We also found that the development paths of domestic value added contributions to exports in the GVCs participating economies have followed “smile curve” with its turning point being 5,651 U.S. dollars in per capita GDP. It implied the dynamic impacts of GVCs participation, where at the initial stage of GVCs participation the domestic value added contributions to exports have reduced, but have recovered at the later stage of GVCs involvement with upgrading domestic productive capacities. It should also be noted that the turning points of “smile curves” differed according to manufacturing sectors: the sectors of food, textile, and wood products reached the turning point at lower per capita GDP and at higher ratio of domestic value added contributions to exports than those of machinery, electrical, and transport equipment.
    Keywords: Global value chains, industrial upgrading, Asian developing economies
    JEL: F23 O53
    Date: 2015–04
  19. By: Anastasios Evgenidis (University of Patras); Costas Siriopoulos (Zayed University)
    Abstract: In this paper, we examine the international transmission of US monetary policy shocks across euro area and Asian countries by using a FAVAR model. We first examine all possible channels through which a policy shock is transmitted to each country. In general the transmission of the shock hides considerable heterogeneity across the countries. We find that the trade balance is important in explaining GDP spillover effects in the case of Singapore. Wealth effects along with the world interest rate channel explain the negative propagation of the US shock to the GDP of Hong Kong, the Philippines and Singapore. The exchange rate channel can explain the positive spillover effects on GDP in Korea and Japan. For the euro area, an endogenous response of the euro area monetary authority is observed. The wealth effect through the role of effective exchange rates seems adequate to describe the transmission of the shock to European countries. For Germany and Italy the decline in lending and spending reveal the importance of the balance sheet channel in the shock transmission. Second, we investigate to what extent the transmission mechanism has changed over time. For the 2007 financial crisis, our results indicate that the majority of the countries in both regions witness an increase in the size of the shock to real activity, inflation and credit variables in the post crisis period.
    Keywords: Monetary Policy; International Transmission Mechanism; FAVAR; Bayesian Statistics; Time Varying Parameters
    JEL: C38 E52 F41
    Date: 2015–01
  20. By: KRONGTHONG KHAIRIREE (Suan Sunandha Rajabhat University, Bangkok Thailand); CHONNART MEENANUN (Suan Sunandha Rajabhat University)
    Abstract: This research is a case study that explored the problems and constraints of producing and marketing of local commercial products based on Thai students’ project-based learning in mathematics. This study employed an analysis of components of marketing mix and SWOT analysis of local commercial products using Thai students’ project-based learning. These local commercial products were collected from sample schools in Amnaj Charoen Province, Nan Province, and Payao Province Thailand. The components of marketing mix: 4Ps consisted of product, price, place and promotion, and SWOT analysis matrix strategies were employed to analyzed data. The research findings revealed that project-based learning approach provides opportunities for students to integrate the contents of different subject areas to the production process. However, it did not good enough in business. The factors affecting on local commercial products using the students’ project-based learning were based on their products, prices, places and promotions. These findings showed that local commercial products using Thai students’ project-based learning in mathematics have no brand name, the cost of production per unit is very high, no proper place to sell the products, and not enough promotion. The research findings were in line with the main four elements: 4 Ps of marketing mix theory.
    Keywords: students’ project -based learning, local commercial products, marketing mix, SWOT analysis, and SWOT analysis matrix strategies
    JEL: I29
  21. By: Merle Kreibaum (Georg-August-University Göttingen); Stephan Klasen (Georg-August-University Göttingen)
    Abstract: We investigate the effect of the Vietnam War and the socialist regime in the Northern part of the country on female labour force participation. We differentiate the effect across birth cohorts, thus comparing immediate and long-term impacts. After presenting a theoretical model implying effects due to the role played by the ‘added workers’ and cultural change, we use data from three national household censuses in 1989, 1999, and 2009 to estimate probit models of determinants of women’s choice to enter the labour market. Proxying war intensity with the provincial share of female population after the war, the effect of ‘missing men’ on the work status of women is found to be positive and significant for those cohorts directly affected by the war. For those cohorts entering working age after the end of the conflict, the effect is still positive but smaller and in some specifications insignificant. Living in the Northern part of the country increases the likelihood of a woman working by around eleven percentage points, suggesting a larger and more persistent effect of socialism on female labour force participation.
    Keywords: Female labour force participation; conflict, Socialism; Vietnam
    JEL: F51 J16 J20 O15 P2
    Date: 2015–07–21
  22. By: Niracharapa Tongdhamachart (Suan Sunandha Rajabhat University)
    Abstract: The research was to study Thai animation industry in order to lay out a solid foundation and to compete in the global market. The research was a qualitative research based on interviews of key persons from its industry and government sectors, related research and articles and observation data. The research was analyzed by tracing back the development of Asian animation and particularly looking into the success story of Japanese animation in a global market. The study showed that Thai animation still lacked the unique style of production to attract global viewers. To spearhead and strengthen Thai animation, several factors including a robust government policy, international partnership, marketability, financial support and related industry and associations kept the industry competitive.
    Keywords: anime, digital content, competitive, animation, characters
  23. By: Yose Rizal Damuri (CSIS)
    Abstract: While the importance of services sector in creating value added and employment has been recognized, the role of services as providers of major inputs to production sector are often forgotten and overlooked. This paper stresses the importance of services sector in supporting economic activities in general; the role that has become increasingly more critical in the wake of global production network. It argues that development of the services sector is crucial to supporting an economy’s participation in networks of production and in promoting industrial upgrading. Within that context, this paper provides insight on the direction of services development in ASEAN countries and those countries can benefit by supporting greater services integration across the region.
    Keywords: Services
    Date: 2015–04
  24. By: East Asian Bureau of Economic Research (East Asian Bureau of Economic Research)
    Abstract: Australia’s ability to attract high levels of foreign investment is critically important to driving employment, productivity growth, and innovation. Foreign investment brings much needed capital, expertise, technology and links to international markets. Maintaining an open investment regime and an attractive investment environment is essential to growth in jobs and maintaining living standards. Australia has historically been an attractive destination for investment and was previously the largest single destination for Chinese capital globally. The Foreign Investment Review Board (FIRB) and the foreign investment regime have played an important role in facilitating investment and reassuring the community through the screening of foreign investment to ensure new investment is in the national interest. Two recent developments have led to pressure on the regime and to changes in its operation. First, the large inflow of investment from China put significant stress on the screening process and resulted in short term politics-driven policy responses as a consequence of political pressures. Community concerns have arisen in response to the rapid increase in the scale of Chinese investment — its unfamiliarity as a new source of investment, the complication of high levels of state ownership, and the expansion of Chinese investors into agriculture and real estate. Second, Free Trade Agreements (FTAs) have de facto amended the foreign investment regime by raising the monetary thresholds that trigger review of investments originating in particular countries and introduce distortions in the treatment of foreign investment from different sources. Investment from Europe, Southeast Asia and all other countries is treated differently from investment from the United States, New Zealand, Chile, China, South Korea and Japan. This does not make policy sense. This paper supports the steps by Australia’s Treasury Department, announced on 18 May, aimed at modernising and simplifying the foreign investment regime and suggests additional reforms that would enhance the operation of the investment regime and strengthen the investment environment. The additional changes suggested seek to maintain Australia’s attractiveness as an investment destination and ensure that incoming investment continues to drive productivity and income growth in the nation’s interest.
    Date: 2015–06
  25. By: Suwaree Yordchim (Suan Sunandha Rajabhutuniversity); Rosjana Chandhasa (Suan Sunandha Rajabhutuniversity)
    Abstract: The objectives of this study were 1)to identify of the pottery design from the Noi Rever’s kiln at Singburi province; 2) to examine the opportunity for making use of it for Singburi OTOP product’s label and packing; 3) to survey the opinions of the consumers on the design products. The population and sampling group in this study included 400 people in Singburi and tourists to give their opinions on the packaging design. Other informants included 7chili paste OTOP producers, 3 specialists in the field of product design, and 3 specialists in the field of marketing. The data were collected through focus group and closed-ended and opened-ended questionnaires to evaluate the appropriateness of the product design. The information was used to make the prototype of the packaging design. The data analysis was done by basic research statistics and content analysis methods. The results showed that the history and identity of the pottery such as shape, patterns and colors of a traditional 4-handle jar can be used to design the packaging of chili paste OTOP of Singburi. The proper packages for the chili paste included glass and plastic bottles attached with the design labels. The consumers reported their opinions on the packaging as follows: the functions of the package were to protect the product inside and easy for transportation. The packaging and its label should clearly give the information of the inside product. Other aspects were values, identity, and good appearance. The results showed that the target group reported their opinions on those aspects at high level.
    Keywords: Wisdom to Business, Pottery design, OTOP label, Packaging
  26. By: Pensri Watchalayann (Faculty of Public Health); Chudanat Pakasukpaiboon (Bua-Kroa Health Center)
    Abstract: Organophosphate pesticides were used in planting mimosa, an edible vegetable growing in water pond. This research aimed to investigate the levels of organophosphate pesticides in water and organophosphate pesticides exposure among farmers planting mimosa. 35 farmers and 35 of people living in the same community were interviewed individually about their personal data and working behavior. Moreover organophosphate pesticide metabolites in their urine were determined. Each of 35 water ponds was also analyzed for organophosphate pesticides. The levels of organophosphate pesticide in water pond planting mimosa were less than detection limit (Limit of Detection = 0.01 mg/l). Metabolites of organophosphate pesticides were found in urine of 11 farmers with the average of 7.197 mg/l while 14 person of the control group had been found urinary organophosphate metabolites with the average of 3.223 mg/l. There was no statistical difference of urinary organophosphate pesticides metabolites among these two groups (p<0.05) It suggested that there may be another organophosphate pesticide exposure pathway which should be determined in order to create appropriate measures for reduction pesticides exposure. However, awareness and safe use of pesticides should be expeditiously promoted.
    Keywords: Organophosphate pesticide, Pesticide metabolites, Pesticide exposure, Mimosa
    JEL: I18
  27. By: URAI BUTTHONGDEE (Suratthani Rajabhat University Thailand)
    Abstract: Sustainable Tourism Development Planning. In which the research shown that in the area particularly, Klong-Blab village is full of natural resources . And Guide for Potential-Based Doi Sathit Herbal Learning Center development this research has 3 main objectives, they are: to study the involvement of community management, to evaluate the potential of the tourism community, and to determine the potential for tourism development. The 400 questionnaires were completed by three sample groups: 100 locals, 20 academics, 280 tourists. The questionnaire was created to examine readiness of Doi Sathit area for tourism development and to examine weaknesses, strengths, opportunities and obstacles, of which to the development of Klong-Blab village as a tourist attraction, in order to guide the tourism development in the Klong-Blab village. Results found that the way to the development of tourist attraction of Klong-Blab village are: Tourism Resource Development, Tourism Marketing Development, and Tourism Readiness Development. For evaluation the potential of Doi Sathit to become a part of tourist attraction sights of Klong-Blab village, by interview locals and inside observation. In addition to that there are 5 community groups meeting for the share of responsibilities which the interpretation given to the 5 areas: The center of the sufficiency economy; Non-toxic orchard; The center of a ‘Lhoom’ pig farm and mushroom farm; Community of learning center; and Doi Sathit Herbal Learning Center. In conclusion, these 5 areas were then a single local tourist attractions, now they become Klong-Blab community tourist attraction.
    Keywords: Potential of tourism, Herbal learning center, Lhoom pig farm, Sustainable route
    JEL: O29
  28. By: World Bank
    Keywords: Water Supply and Sanitation - Hygiene Promotion and Social Marketing Finance and Financial Sector Development - Access to Finance Water Supply and Sanitation - Urban Water Supply and Sanitation Health, Nutrition and Population - Health and Sanitation Macroeconomics and Economic Growth - Markets and Market Access
    Date: 2015–04
  29. By: Kevin Mumford
    Abstract: This paper takes a stocks rather than a flows approach to measuring national prosperity. It examines changes in capital stocks of different kinds in Asian economies, including produced capital, natural capital, human capital and inclusive wealth.
    Keywords: national wealth, capital stocks, measurement, prosperity
    JEL: E01 E22
    Date: 2015–04
  30. By: Chuleewan Praneetham (Suratthani Rajabhat University)
    Abstract: Education can increase people’s knowledge, raise awareness and attitude on environmental problem and environmental conservation by using appropriate technological education, tools and instruction. Therefore, the purpose of this research was to investigate the current state and needs in using digital instruction for environmental subject of primary schools in Surat Thani province, Thailand. The population was 492 primary schools in Surat Thani province. A total of 221 scientist teachers from 221 primary schools were collected by simple random sampling technique for survey research in 2015. The data collection tool was the closed-ended questionnaires. The frequency, percentage, mean, and standard deviation were used to analyze the data. The results revealed that the state in using digital instruction for environmental subject of primary schools in Surat Thani province was at good level. Most of teacher used internet, video compact disk (vcd) and digital video disk (dvd) regarding environmental issues as tool and instruction in classroom. Their opinion on the state of digital instruction effectiveness in terms of content, structure, context, and learning achievement was at good level, and presentation format at moderate level. It found that teachers preferred multimedia instruction with cartoon animation, which has potential to improve students’ understanding and knowledge about environment and energy conservation. Each story should take 10 – 11 minutes long, consist of pre- and post - test, and learning process should not be longer than 50 minutes in total. According to the findings, it is recommended that appropriate and effective digital instruction related to environment and energy saving should be developed. It can be an effective tool for raising awareness of students regarding environmental issues.
    Keywords: digital instruction, environmental subject, state, needs
    JEL: Q56 I29
  31. By: Tania El Kallab (Université de Cergy-Pontoise, THEMA)
    Abstract: Three facts have characterized the pre-crisis debates in macroeconomics: the increase in the US current account decit, the decline in interest rates and the increase in the share of US assets in global portfolios. Caballero, Farhi and Gourinchas (2008) described these "anomalies" as being external to the United States. The high saving rates in Asian countries in the aftermath of the collapse of their financial markets led to a high demand for American nancial assets rather than domestic Asian ones, which were now considered unsafe. Our paper uses the basic model provided by Caballero, Farhi and Gourinchas to investigate whether an alternative explanation for these three facts, namely, the increase in American consumption. We show that the increase in US consumption would indeed cause a rise in capital flows towards the US (fact 1), but interest rates would rise rather than decrease (fact 2), and the share of american assets in global portfolios would not be affected (fact 3).
    Keywords: Current account decits, capital ows, interest rates, global portfolio share, consumption, financial assets
    JEL: E37 E43 F43
    Date: 2014
  32. By: Adam Smith International
    Keywords: Energy - Energy Production and Transportation Energy - Hydro Power Energy - Oil & Gas Governance - Local Government Industry - Mining & Extractive Industry (Non-Energy)
    Date: 2015–05
  33. By: Radhe Shyam Sharma (Chowdhary Devi Lal University)
    Abstract: With higher education becoming a globally competitive service, there is an urgent need for every institution to achieve quality benchmarks, standards and recognition. The International level effort to democratize the socio economic services including education provided by various level of government and the growing realization among the masses about the economic value of education have for long been exerting considerable pressure for expansion of higher education system in Asian Countries. But in many countries the resources do not permit scaling up of the needed infrastructure and human resources to make available the conventional higher educational facilities to the aspiring learners. Open and distance learning system is coming up as effective mode of education for everyone and as an alternate to conventional higher educational system. The development of open and distance learning system from the stage of print material oriented correspondence education to the stage of self instructional packages with an integrated multi-media approach, and incorporation of interactive communication technologies, leading towards building of virtual learning institutions. The application of new interactive communication technology in providing flexible and cost effective programme through distance mode is now widely recognized and appreciated. This paper suggests on as, how to set and accomplish the quality benchmarks in different spheres of academic excellence to ensure the quality delivery of open and distance education in this competitive era.
    Keywords: Quality Benchmark, Distance Education, Multimedia
    JEL: I29
  34. By: Alicia Garcia-Herrero
    Abstract: The rapid rise of trade in part of components –in the context of an increasingly important global production chain – is a key future of Asia’s economic miracle. This paper aims at analyzing empirically what are key determinants of trade in parts and components.
    Keywords: Asia, China, Economic Analysis, Latin America, Mexico, Research, Working Paper
    JEL: F10 F12 F15 F16
    Date: 2015–07
  35. By: Eva Fodor (Central European University); Daniel Horn (Institute of Economics - Centre for Economic and Regional Studies Hungarian Academy of Sciences)
    Abstract: Using the 2008 cross-sectional wave of the survey Statistics on Income and Living Conditions (EU-SILC) and multi-level modeling techniques, this paper explores the macro-level determinants of the gender poverty gap in the ten post-socialist European Union member states. In dialogue with the literature on the impact of economic development on gender inequality in Asia and Latin America, we find that fast-paced, foreign capital led economic growth is associated with a larger gender poverty gap in Central and Eastern Europe, while generous welfare policies, specifically higher levels of spending on pensions and family policies are correlated with women’s lower relative destitution. These findings evaluate the impact of neo-liberal style “economic development” on gender inequality in a geo-politically specific context and suggest that structural adjustment and global market integration may exacerbate women’s vulnerability even when they are well equipped with human capital and other resources to compete with men in the labor market.
    Keywords: economic development, poverty, gender, SILC
    JEL: J16 P36 I32 C21
    Date: 2015–04
  36. By: Benoît CHERVALIER (Sciences Po Paris)
    Abstract: This study is published in advance of the major negotiations which will take place during 2015 on reforming concessional financing, most notably the Third International Conference on Financing for Development in Addis Ababa, Ethiopia. While this conference aims to address the broader issues of financing, calculating concessionality and what should be considered official development assistance (ODA), by including within it the various financial instruments which boost development finance in a form other than grants or loans, the multilateral development banks (MDBs) have launched a review focusing more narrowly on the future of their concessional financing windows.The organisational framework for the concessional financing offered by MDBs is based on mobilizing donor contributions to generate resources which are allocated, in the form of grants or highly subsidized loans and based on performance, to recipient governments while meeting their debt sustainability level. This system was put in place around 15 years ago, and has since undergone a succession of only minor adjustments. Special waivers have also stacked up, producing an excessively complicated system. It is the structure of this system which now needs to be rethought. But reform must be comprehensive and based on the ‘magic triangle’ in which resource mobilization, allocation of resources and debt sustainability management are closely linked and achieve an overall balance.Resources from traditional donors appear to have reached a climax. After the significant increase in ODA during the 2000s, reaching US$ 135.2 billion in 2014, and a highly focused political agenda, political mobilisation became more diffuse and was made more difficult by the budgetary constraints experienced by the main donors. It can therefore be reasonably expected that the level of concessional financing will see weak growth during the next replenishment cycles, with the notable exception of multilateral organisations focusing on an issue which is an international political priority with leadership at the highest level. This was the case with the Green Climate Fund, which was able to get pledges up to US$ 10 billion in Lima in December 2014 for its first fundraising initiative, thanks in particular to decisive commitment from the G20 Heads of State and Government.In parallel, the allocation formula, the objective of which is to reward performingcountries, has become increasingly complicated. Reality (health and food crises, climate disruption, support for endemically fragile and vulnerable regions) has introduced, over the course of various replenishment cycles, a number of a posteriori adjustments – whether to allocate funding based on exceptional circumstances (the Crisis Response Window provided by the World Bank (WB) and the Asian Development Bank (AsDB) and the Fragile States Facility operated by the African Development Bank (AfDB)) or to target priorities such as the AfDB’s regional integration projects. Since then, the stacking up of waivers and set asides has only made the allocation framework more cumbersome, rendering the whole system opaque and complex. There is a large volume of literature on this subject, demonstrating the need to take greater account of countries’ structural vulnerability in a bid to make the system intrinsically fairer and more effective. The resources allocated through the current performance-based system represent slightly more than 50% of total resources.And more than half of recipient countries – whether International Development Association (IDA) or African Development Fund (ADF) – are fragile countries. This trend will grow over the next ten years.Debt sustainability remains a constant concern. Concessional loan maturities mean that it will be particularly from 2020–2025 that the significant rise in loans granted between 2005 and 2015, as a result of the increased resources made available to concessional financing windows, will have an impact on the public finances of borrowing countries. This situation may leave countries vulnerable to external shocks, all the more so in the case of those countries which also borrowed from capital markets but on much more expensive terms – these loans will mature at the same time.The acceleration of countries completing the debt cancellation processes (Heavily Indebted Poor Countries (HIPC) and Multilateral Debt Relief Initiative (MDRI)), combined with the acceleration of global economic changes, is generating a multitude of paradoxical situations where countries currently eligible for concessional financing windows can, at the same time, gain access to capital markets. The recent revision of credit policies allowing countries eligible for concessional financing to access non-concessional funds requires a comprehensive revision of classification and graduation procedures.While the arguments in favour of maintaining concessional financing are strong – according to WB estimates, extreme poverty will still affect 504 million people in 2025, 58 percent of whom will be in Sub-Saharan Africa (80.7 percent if India, the major source of poverty outside Africa, is excluded) – it is the way in which it is mobilized and allocated that needs to be fundamentally rethought.Concessional resources should not be only considered a liquidity tool but as well as an equity one. Four main avenues of reform could be explored (the detail of these proposals is given after the summary): (i) the mobilization of concessional financing should be based on high-level political consensus; (ii) the division of effort between development institutions should be rethought in order to identify obvious comparative advantages; (iii) the country classification needs to be improved and there should be an increased focus on financing sectorial priorities; (iv) the framework for allocation resources should be adjusted to take account of these changes.The proposed reforms of the magic triangle take account of the profound economic changes countries are experiencing, and the constraints faced by development institutions. But no reform is possible without the political will to lead it. It is therefore first and foremost for capitals and for shareholders to demonstrate the courage to lead an ambitious and strategic reform agenda for the next decade.
    Date: 2015–07
  37. By: Roberto Samaniego (George Washington University); Juliana Sun (Singapore Management University)
    Abstract: Online appendix for the Review of Economic Dynamics article
    Date: 2015

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