nep-sea New Economics Papers
on South East Asia
Issue of 2017‒06‒11
twenty-one papers chosen by
Kavita Iyengar
Asian Development Bank

  1. Macroprudential Policy Frameworks in Developing Asian Economies By Lee, Minsoo; Gaspar, Raymond; Villaruel, Mai Lin
  2. Green Growth Opportunities for Asia By Fankhauser, Sam; Kazaglis, Alex; Srivastav, Sugandha
  3. Nemo solus satis sapit: trends of research collaborations in Vietnamese social sciences, using 2008-2017 Scopus data By Tung Manh Ho; Thu Trang Vuong; Ha Viet Nguyen; Nancy K. Napier; Quan-Hoang Vuong
  4. Assignment of powers and number of states in Federal Philippines Discussion paper on federalizing Philippines By Tamayo, Adrian
  5. "The Impacts of Emerging Asia on Global Financial Markets" By Shin-ichi Fukuda; Mariko Tanaka
  6. Indonesia towards 2030 and beyond: A Long-Run International Trade Foresight By Verico, Kiki
  7. Policy Measures for Mitigating Fine Particle Pollution in Korea and Suggestions for Expediting International Dialogue in East Asia By Shim, Changsub
  8. Decoupling Asia Revisited By Park, Cyn-Young
  9. Asia-Pacific Regional Integration Index: Construction, Interpretation, and Comparison By Huh , Hyeon-Seung; Park, Cyn-Yung
  10. Implications for Teacher Training and Support for Inclusive Education in Cambodia: An Empirical Case Study in a Developing Country By Kuroda, Kazuo; Kartika, Diana; Kitamura, Yuto
  11. Can Efficient Provision of Business Development Services Bring Better Results for SMEs?: Evidence from a Networking Project in Thailand By Suzuki, Aya; Igei, Kengo
  12. Upstart Industrialization and Exports, Japan 1880-1910 By Christopher M. Meissner; John P. Tang
  13. Re-opening the silk road to transform chinese trade By Ning Mao; Michael McAleer
  14. Impacts of Sea Level Rise on Economic Growth in Developing Asia By Asuncion, Ruben Carlo; Lee, Minsoo
  15. The role of investment incentives for structural transformation a comparative analysis of investment incentives legislations in Sub-Saharan African, South-Asian and South-East Asian By Galli, Rossana.
  16. Firm-level corruption: Unravelling sand from grease By Axel Demenet; Hoang-Anh Ho; Sarah Morcillo
  17. China’s One Belt One Road Strategy: The New Financial Institutions and India’s Options By Ajay Chhibber
  18. Musical Excellence: The Spiritual Panacea of the Future By Cristian Caraman
  19. Labour unions and the promotion of inclusive finance for workers By Florez, Diana Angulo.; Matzdorf, Patricia.; Qureshi, Zahid.
  20. Cross-Border Mergers and Acquisitions: Evidence from the Indochina Region By Ekkayokkaya, Manapol; Foojinphan, Pimnipa; Wolff, Christian C
  21. You’ve Got Email: A Workflow Management Extraction System By Piyanuch Chaipornkaew; Takorn Prexawanprasut; Michael McAleer

  1. By: Lee, Minsoo (Asian Development Bank); Gaspar, Raymond (Asian Development Bank); Villaruel, Mai Lin (Asian Development Bank)
    Abstract: Over the last decade, developing Asia’s deeper global financial linkages have been accompanied by greater financial integration. As the region becomes more interconnected, a key priority is to ensure that the dynamic environment is supported by better coordinated and potentially consistent macroprudential policies to adequately control systemic risks. Within the context of global financial developments, this paper presents a general macroprudential policy framework that highlights important aspects to conducting policy. It also provides an overview of how some Asian economies, New Zealand, and the euro area implement their macroprudential policies. It reviews existing macroprudential policy frameworks of five high-growth developing economies—Cambodia, Mongolia, Myanmar, Sri Lanka, and Viet Nam—identifying improvements and continuing challenges for their financial systems, which will likely grow more complex. Identifying and addressing key issues will help improve their existing macroprudential policy frameworks.
    Keywords: developing Asia; financial stability; macroprudential framework; systemic risk
    JEL: G01 G28 L51
    Date: 2017–03–01
  2. By: Fankhauser, Sam (Vivid Economics); Kazaglis, Alex (Vivid Economics); Srivastav, Sugandha (Vivid Economics)
    Abstract: This paper assesses the low-carbon economy in Asia: how large it is today and how well it will fare in the future. Using patent and trade data, it analyzes the potential of Asian economies to capture value from the design and export of low-carbon technologies, acknowledging that these are only two dimensions of a multidimensional low-carbon economy. It conducts country-level analysis to identify which technologies different countries can specialize in and potentially scale up. The work shows that, overall, Asia has an innovation specialization and revealed comparative advantage in climate change mitigation technologies. Particular strengths include efficient lighting, photovoltaics, and energy storage technologies. Further opportunities include nuclear and smart grids. However, within Asia, there are regional disparities, with countries such as the People’s Republic of China, Japan, and the Republic of Korea outperforming others. This paper highlights how the analytical framework it presents can be used to strategically inform environmental policy makers and concludes with an overview of the green growth policy tool kit.
    Keywords: climate change; economic growth; energy; environment; urban development
    JEL: Q42 Q43 Q54 Q56
    Date: 2017–01–27
  3. By: Tung Manh Ho; Thu Trang Vuong; Ha Viet Nguyen; Nancy K. Napier; Quan-Hoang Vuong
    Abstract: Nemo solus satis sapit – no one can be wise enough on his own. This is particularly true when it comes to collaborations in scientific research, which are essential for the exchange of knowledge, sharing of workloads, and improvement of output quality. Concerns over this issue in Vietnam, a developing country with limited academic resources, led to an in-depth study on Vietnamese social science research, in which data from 410 Vietnamese authors who had international publications recorded in Google Scholar and Scopus during 2008 2017 were collected for analysis. The results showed that more than 90% of scientists had worked with colleagues to publish, and they had collaborated 13 times on average during the time limit of the data sample. These collaborations, both domestic and international, provided authors with significant advantages, boosting their performance (β = 0.134, p
    Keywords: Scientific collaborations; higher education; research institutions; research policy; productivity
    JEL: I23 O32
    Date: 2017–05–31
  4. By: Tamayo, Adrian
    Abstract: This paper argues that the number of states or regional units the Philippine should have when it will federalize the country must be limited to 5. This claim meets the Samuelsonian principle of welfare theorem where marginal social cost is equal to marginal social benefit. The paper also argues that the states or regional governments should have the limited to earn revenue through taxing powers which will be used to spend for government operations. In this manner, efficiency is achieved and control of the federal government on the affairs of the states and regional governments is limited primarily to transfers through equalization parameters.
    Keywords: Fiscal powers, Philippine federalism, welfare analysis
    JEL: H3 H30 H72 H75
    Date: 2017–06–06
  5. By: Shin-ichi Fukuda (Faculty of Economics, The University of Tokyo); Mariko Tanaka (Faculty of Economics, Musashino University)
    Abstract: The purpose of this paper is to explore to what extent spillovers from Asian financial market shocks have risen during the past two decades. In the first part, we examine spillover effects in stock markets. Estimating the GVAR (Global Vector Autoregressive) model, we find that spillover effects from emerging Asia became large in the post GFC (Global Financial Crisis) period. However, we also find that most of the spillover effects were from shocks in manufacturing sector rather than from those in financial sector. This implies that the spillover effects increased in the post GFC period because of increased manufacturing sector's shocks in emerging Asia. In the second part, we examine spillover effects across different foreign exchange rates. As in the stock markets, spillover effects from emerging Asia became large in the foreign exchange markets in the post GFC period. In particular, our high frequency data analysis suggests that an exchange rate policy change by the PBC (the People's Bank of China) had positive spillover effects on the most of the advanced currencies in the post GFC period. The empirical results imply that the impact of Chinese shocks has been rising in the global financial markets.
    Date: 2017–06
  6. By: Verico, Kiki
    Abstract: One of the most important variables in the emerging economies like Indonesia is the stability of the exchange rate. Unstable exchange rates make it almost impossible for all business ventures to plan the business. The higher the depreciation of the Rupiah the higher the inflation rate and this will decrease people's purchasing power. In the balance of payments, the stability of the exchange rate and capital account are strongly influenced by the current account balance. A study found that in Indonesia, in the long run (Johansen Procedure) Indonesia current account balance affects the real exchange rate while in the short run (VECM) it affects the nominal exchange rate. The study also found that in the current account balance the one that affecting the exchange rate is the trade balance. Indonesia's trade balance relies on a surplus of trade in goods, especially agricultural products, petroleum and gas. The price of products in the primary sector is very vulnerable because of the volatility of primary products due to that of world’s oil and gas price. Indonesia's current account balance is highly dependent on manufacturing product trade. Another study found that in real-world, manufacturing trade influences more the capital flows than vice versa. Therefore, in order to maintain a positive long-term economic growth and stable exchange rate, Indonesia must increase its trade competitiveness, especially in the manufacturing sector. This paper will explore the challenges and opportunities of international trade in Indonesia towards 2030 and afterwards.
    Keywords: Long-run foresight; international trade; 2030 and beyond; Indonesia; Indonesia economy
    JEL: F0 F14 F17 F53 F63 L66 O14 O17 O24
    Date: 2017–06–05
  7. By: Shim, Changsub
    Abstract: The majority of the measurements sites over Republic of Korea place PM2.5 concentrations above the national air quality standard of 25 microgram/m3/year, posing great concerns for the national environment and public health. This particulate matter (PM) pollution is often associated with transboundary transport of air pollutants throughout East Asian countries. This paper reviews and discusses the Korean government’s policies for mitigating PM pollution, and in particular, recent policies to control PM2.5, including a system introduced by the Korean Ministry of Environment (KMOE). In addition, I analyze the system and performance of cooperative programs for improving East Asian air quality, considering current approaches by the Acid Deposition Monitoring Network in East Asia (EANET), the Joint Research Project on Long-range Transboundary Air Pollutants in North-East Asia (LTP), the North-East Asian Subregional Programme for Environmental Cooperation (NEASPEC), and Tripartite Environment Minister Meeting (TEMM) as the basis for a comparative study, focusing on international coordination, communication, scientific activities, and institutional structure. Based on this analysis, I have generated some recommendations for improving international dialogue on air quality over East Asia.
    Keywords: Air pollution policy,East Asia,International cooperation,Korea,Particulate matter
    Date: 2017–03
  8. By: Park, Cyn-Young (Asian Development Bank)
    Abstract: The issue of decoupling is controversial. On the back of Asia’s sustained high growth, the hypothesis that the region’s business cycles would become increasingly independent of the global trend gained considerable attention. Asia was nonetheless hit hard by the global financial crisis and subsequent economic downturn. This paper focuses on the evolution and nature of macroeconomic interdependence between emerging East Asia and Group of 3 economies. First, the progress of regional economic integration has positively impacted the direction and magnitude of macroeconomic interdependence and growth spillovers both intraregionally and interregionally. Second, with the People’s Republic of China (PRC) playing a central role in the regional production and trade network, its ongoing structural changes will likely influence Asia’s economic integration both within and beyond the region through evolving trade and investment links. Finally, the paper employs a vector autoregression model to assess the impact of the United States (US) output, world trade, financial volatility, and the PRC output shocks on emerging East Asia. Findings suggest that the US economy remains an important source of external demand shock for the regional economy, although the impact of the PRC has increased sharply.
    Keywords: business cycle; emerging Asia; financial integration; trade integration
    JEL: F15 F36 F44
    Date: 2017–01–12
  9. By: Huh , Hyeon-Seung (Yonsei University); Park, Cyn-Yung (Asian Development Bank)
    Abstract: We develop an index to measure the degree of regional integration in Asia and the Pacific (48 economies in six subregions). The index comprises 26 indicators in six dimensions of regional integration, i.e., trade and investment, money and finance, regional value chains, infrastructure and connectivity, free movement of people, and institutional and social integration. We use principal component analysis to apportion a weight to each dimension and indicator to construct composite indexes. The resulting indexes help assess the state of regional integration on diverse socioeconomic dimensions, evaluate progress against goals, identify strengths and weaknesses, and track progress. Cross-country, cross-regional comparisons also allow policy makers to prioritize areas for further efforts.
    Keywords: Asia; composite index; regional integration
    JEL: F10 F30 O10 O50
    Date: 2017–04–30
  10. By: Kuroda, Kazuo; Kartika, Diana; Kitamura, Yuto
    Abstract: Research in developed countries has consistently demonstrated that training and experience are factors that strongly influence teacher attitudes toward inclusive education. Given the implications of this research for teacher-related policies on inclusive education in other countries, the present study seeks to empirically determine and verify the impact of training and experience in the developing country context. Surveys were conducted across Cambodia in February 2015 involving 448 teachers of children with and without disabilities, to find out how their training and experience influences their perspectives on how children with disabilities should be educated. Twenty-four were then selected for focus group interviews. A Pearson chi-square test was used to determine the statistical significance of (i) training on teaching children with disabilities, and (ii) experience in teaching children with disabilities, in teacher perceptions of inclusive education. Their perceptions were also analyzed by disability categories. Statistical analysis revealed that neither training nor experience in teaching children with disabilities significantly influences teacher perceptions of inclusive education in Cambodia. Qualitative responses pointed out that not only is the current cascade teacher training system ineffective in reaching out to all teachers, the message of inclusive education?its purpose and methods?is also not effectively transmitted to all teachers. The responses show that the lack of quality training and on-site support negatively affected their experience of teaching and meeting the educational needs of children with disabilities. The results also showed that the inclusion of severe sensory impaired children in such programs is perceived much more negatively in Cambodia as compared to developed countries. The findings of this study thus have implications for teacher training programs, their resources, and the support for teachers that is required to facilitate the inclusion of disabled students in the context of developing countries, particularly for those students with severe sensory impairment.
    Keywords: Inclusive Education,disabilities,teacher attitudes,training and experience,developing countries
    Date: 2017–03
  11. By: Suzuki, Aya; Igei, Kengo
    Abstract: Recent systemic reviews on the impact of business development services (BDS) on small and medium enterprises (SMEs) reveal mixed effects on various outcomes. For example, the effects on improving skills or practices are often found to be positive while those on employment creation are modest and those on financial outcomes are weak. While there are many BDS providers in developing countries, SMEs’ BDS usage is still very low. Studies have attributed this to reasons such as a lack of information about BDS, a shortage of credits, and the limited availability of BDS. However, most of the existing literature focuses on impacts of demand-side interventions, and empirical evidence about BDS providers is still lacking. We focus on the supply-side constraints of BDS. We take a case from Thailand in which the government, in collaboration with the Japan International Cooperation Agency, implemented a project to establish a formal network among the existing BDS providers with the aim of enhancing their effectiveness in supporting the SMEs. Using the primary data of SMEs and BDS providers, we find that the BDS providers in project provinces increased their interaction with SMEs and improved their BDS practices. SMEs’ network and interactions with BDS providers also increased. We also find some positive evidence that SMEs have more contracts and more certified products on average, and provincial heterogeneous impacts on increasing profits and the percentage of domestic sales in some provinces. These together suggest that networking BDS providers improves the performances of both BDS providers and SMEs. A policy implication follows that an efficient delivery of public services can bring tangible results.
    Keywords: SME,BDS,network,impact evaluation,Thailand
    Date: 2017–03
  12. By: Christopher M. Meissner; John P. Tang
    Abstract: Japanese exports between 1880 and 1910 increased massively in volume, changed composition, and shifted away from leading industrialized countries toward poorer Asian neighbors. The product mix also varied with the level of development of the destination, with new products and specializations more likely to ship to less developed regional economies. Using a new disaggregated data set of the bilateral-product level exports for the universe of Japanese trade partners, we find that changes in various extensive margins (new markets, new goods) account for over 30 percent of export growth over this period. Determinants of initial entry include trade costs and market size. Products started in a small number of markets and accumulated additional destinations building on earlier successes. Subsequent entry was also influenced by product-level characteristics interacting with destination-specific characteristics. We confirm that export growth for “new” products was stronger in LDCs than in advanced economies, but the latter still claimed a larger share of overall trade growth. There is little evidence that Japan exported low quality manufactured goods to new, low-income destinations. Instead, reductions in trade costs helped Japan augment market share. Exit is relatively rare but appears to be determined by market-specific demand-side effects and product-specific factors.
    JEL: F14 F15 N75
    Date: 2017–06
  13. By: Ning Mao (China-ASEAN International College Dhurakij Pundit University Bangkok, Thailand); Michael McAleer (Department of Quantitative Finance National Tsing Hua University, Taiwan And Discipline of Business Analytics University of Sydney Business School, Australia And Econometric Institute Erasmus School of Economics Erasmus University Rotterdam, Netherlands and Department of Quantitative Economics Complutense University of Madrid, Spain and Institute of Advanced Sciences Yokohama National University, Japan.)
    Abstract: Under anti-globalization and isolationism, China is seeking to portray itself as a new leader for globalization under the banner of the Silk Road initiative. Meanwhile, China’s traditional and comparatively advantaged industry, silk, has faced dire predicaments and challenges for long time, and needs a transformation in terms of initiatives. Throughout history, the prosperity arising from silk was supposed to represent a microcosm of Chinese society. This paper searches the breakthrough point to improve the current dilemma of Chinese silk enterprises; uses a Case Study for inductive reasoning that is feasible for marketing strategies; and provides a strategy to help Chinese silk enterprises to transform their market positioning and operating modes to obtain better development opportunities. The paper also analyzes the new external environment based on the “One Belt, One Road” principle, which is of crucial importance for the implementation of new marketing strategies.
    Keywords: China, Silk, Company Strategy, National Strategy, Transformation, Chinese Trade.
    JEL: O24 P33 Q27
    Date: 2017–05
  14. By: Asuncion, Ruben Carlo (Union Bank of the Philippines); Lee, Minsoo (Asian Development Bank)
    Abstract: Global sea level rise (SLR) variations have undeniably begun to make an impact on highly vulnerable economies. These impacts of SLR are a key component of the projected economic damage of climate change, an important input to climate change policies and adaptive measures. This paper considers SLR projections and its impact on the economy and includes a consolidation of various related studies. Estimated global gross domestic product (GDP) loss by 2100 ranges from 0.3% to as high as of 9.3% (Hinkel et al. 2014; Pycroft, Abrell, and Ciscar 2015). Climate change impact should be addressed at the global level through a locally focused effort where education and acceptance by all stakeholders are crucial and warranted. Further, this paper tackles several adaptive strategies as a response to SLR which include retreat, accommodation, and protection. The retreat strategy simulates that SLR causes the loss of inundated land and incurs planned relocation (migration) costs above a certain sea level. The accommodation strategy allows usage of vulnerable areas or land and limits damage by flood-proofing or raising structures. Finally, the protection strategy projects that land will be protected from SLR damage by sea walls or other barriers of a certain height. On the other hand, Diaz (2016) estimates a median adaptation cost from migration at 16% of GDP under the least-cost strategy by 2050. In general, the education of and the acceptance by the concerned local community will be crucial in the successful implementation of SLR adaptation strategies, notwithstanding parallel mitigation efforts on a global scale.
    Keywords: climate change; economic growth; sea level rise
    JEL: Q50 Q54
    Date: 2017–01–19
  15. By: Galli, Rossana.
    Abstract: This study is based on comparative analysis of tax and investment legislations currently used by several sub-Saharan African, South Asian and South East Asian developing countries and on country-specific cases of financial incentives in the same regions. Based on this survey, the paper individuates common and innovative practices, and investigates the potential outcomes of specific investment incentives regulations with respect to different structural transformation and inclusive development policy goals, on different agents and at different stages of development. In particular, we examine fiscal and financial incentives in relation to five policy goals related to structural transformation and inclusive development: domestic value added augmentation, local supply chains development, promotion of quality-certified production, SMEs development, and employment generation. The expected beneficial outcomes and possible drawbacks of the examined investment incentives are presented, and a number of possible regulation improvements and supportive policies are suggested. In this way, the paper aims to offer guidance about the design of investment incentives directed at structural transformation and inclusive development goals.
    Keywords: structural adjustment, investment promotion, legal aspect, developing countries, Africa South of Sahara, South Asia, South East Asia
    Date: 2017
  16. By: Axel Demenet; Hoang-Anh Ho; Sarah Morcillo
    Abstract: This paper adds to the recent literature on firm-level corruption by relying on rich data including detailed information on the purpose and amounts of bribe payments among Vietnamese micro, small, and medium firms. Using industry-location averages to instrument for firm-level bribe payments in both a cross-sectional and a panel setting, we provide evidence of a large and significant positive association between corruption and firm performance. We further show that the type of bribe payment does matter: only the payments that can arguably be considered ‘voluntary’ (rather than extortive) drive this association.
    Date: 2017
  17. By: Ajay Chhibber (George Washington University)
    Abstract: The revival of ancient Silk Road strategy into the One Belt One Road (OBOR) Strategy or the new Silk Road project signals China’s ambitious approach to global issues and challenges. Its outward-oriented strategy attempts to encourage new trade and connectivity throughout Asia with road and maritime links to Africa, the Middle East and on towards Europe. The new financial institutions linked to the OBOR strategy - the US $100 billion Asian Infrastructure Investment Bank (AIIB) and the US $40 billion New Silk Road Fund (NSRF) have been set up. These together with the US $50 billion New Development Bank (NDB) and the US $100 billion Contingent Reserve Arrangement (CRA) represent Chinese backed new financial institutions that are not part of the existing Western dominated financial architecture. They will adhere to the Paris declaration but will not abide by the conditionality driven DAC framework. They are designed to help address issues of infrastructure underfunding, to create new pathways to sustainable development, south-south cooperation and mutually compatible solutions to development problems.
    Keywords: New Silk Road, New Development Bank, AIIB, Spice Route
    JEL: F H O
  18. By: Cristian Caraman (Timotheus Evangelical Christian Theological Institute in Bucharest)
    Abstract: The present paper presents The biblical reference points of music, The manifestations of Protestant music culture and The excellence in music. The Protestant music started with Luther, Calvin and continued with Bach, Handel, Brahms, asserting itself in Europe, North America, Africa, and recently in Asia. The Protestant culture, especially the musical one, has penetrated all aspects of civilization, being by far, through its representatives, one of the most powerful spiritual dimensions in human history. The future of a better world consists of a more educated and more sensible generation in which music can make people better. The values of the Protestant Evangelical music can contribute to the human spiritual dimension and to the beauty of its culture and civilization.
    Keywords: culture, music, religion, Bible, Protestantism
    Date: 2016
  19. By: Florez, Diana Angulo.; Matzdorf, Patricia.; Qureshi, Zahid.
    Abstract: This Working Paper tries to capture these experiences and to extract lessons on the actions that unions can take to improve financial inclusion of their members. We hope that this paper will inspire others to think through the diverse ways in which they can meet their members’ financial service needs.
    Keywords: microfinance, workers representation, trade union role, survey, case study, Costa Rica, Dominican Republic, Honduras, Malaysia, Mexico, Rwanda, South Africa
    Date: 2016
  20. By: Ekkayokkaya, Manapol; Foojinphan, Pimnipa; Wolff, Christian C
    Abstract: We study cross-border mergers and acquisitions (M&As) in ten countries in the Indochina region during the period 1993-2015. Countries with a French colonial history showed markedly lower levels of cross-border M&As (value as well as volume) than other countries, whether previously colonized or not. This difference persists even after accounting for the known drivers of cross-border M&A activity, including legal origin, trade openness, and labor cost levels. Together, these findings suggest that the colonial past of a country plays an important role in cross-border M&A activity.
    Keywords: colonial history; Foreign direct investment; South-East Asia
    JEL: F54 G15 G34
    Date: 2017–06
  21. By: Piyanuch Chaipornkaew (College of Innovative Technology and Engineering Dhurakij Pundit University, Thailand); Takorn Prexawanprasut (College of Innovative Technology and Engineering Dhurakij Pundit University, Thailand); Michael McAleer (Department of Quantitative Finance National Tsing Hua University, Taiwan And Discipline of Business Analytics University of Sydney Business School, Australia And Econometric Institute Erasmus School of Economics Erasmus University Rotterdam, Netherlands and Department of Quantitative Economics Complutense University of Madrid, Spain and Institute of Advanced Sciences Yokohama National University, Japan.)
    Abstract: Email is one of the most powerful tools for communication. Many businesses use email as the main channel for communication, so it is possible that substantial data are included in email content. In order to help businesses grow faster, a workflow management system may be required. The data gathered from email content might be a robust source for a workflow management system. This research proposes an email extraction system to extract data from any incoming emails into suitable database fields. The database, which is created by the program, has been planned for the implementation of a workflow management system. The research is presented in three phases: (1) define suitable criteria to extract data; (2) implement a program to extract data, and store them in a database; and (3) implement a program for validating data in a database. Four criteria are applied for an email extraction system. The first criterion is to select contact information at the end of the email content; the second criterion is to select specified keywords, such as tel, email, and mobile; the third criterion is to select unique names, which start with a capital letter, such as the names of people, places, and corporates; the fourth criterion is to select special texts, such as Co. Ltd. com, and www. The empirical results suggest that when all four criteria are considered, the accuracy of a program and percentage of blank fields are at an acceptable level compared with the results from other criteria. When four criteria are applied to extract 7,340 emails in English, the accuracy of this experiment is approximately 68.66%, while the percentage of blank fields in a database is approximately 68.05. The database created by the experiment can be applied in a workflow management system.
    Keywords: Business operations, startup business, import/export industry, email, business data, workflow management system, business transactions, migrating, email extraction system.
    JEL: J24 O31 O32 O33
    Date: 2017–05

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