|
on South East Asia |
| By: | Tanaka, Kiyoyasu |
| Abstract: | Openness to international trade and foreign direct investment (FDI) has contributed to the recent growth of the Cambodian economy. This paper documents patterns of international trade and FDI in Cambodia. First, both export and import increased substantially in recent periods. The major export partners are mainly developed countries including the U.S., the U.K., Germany, and Japan. The major import partners are mainly East Asian countries including China, Thailand, Vietnam, and Hong Kong. Second, fabrics and manmade staple fibers are the major import commodities whereas apparels, clothing, and footwear are the major export commodities. Third, inward FDI stock increased substantially from 1.7 billion US dollars in 2001 to 7.8 billion US dollars in 2012, suggesting a substantial growth of economic activity by foreign-owned firms. |
| Keywords: | Cambodia,International trade,Foreign investments,Apparel industry,Trade,Investment,Garment sector,Global Value Chain |
| JEL: | F14 F21 F63 |
| Date: | 2017–05 |
| URL: | http://d.repec.org/n?u=RePEc:jet:dpaper:dpaper667&r=sea |
| By: | Imaizumi, Shinya |
| Abstract: | Many Southeast Asian Countries, whether or not they are Islamic country, have Syariah Court system as a formal governmental institution for the resolution of disputes relating to family and inheritance issues among Muslim. Thailand, a Buddhist dominant country, allows the application of Islamic law to the disputes among Muslim only in Provincial Courts of four southern border provinces which have the substantial portion of Muslim population. This paper illustrates the historical development and institutional configurations of the system of application of Islamic Law in Thailand. |
| Keywords: | Thailand,Islamic law,Islam,Legal system,Courts,System Courts,Syariah Court |
| Date: | 2017–03 |
| URL: | http://d.repec.org/n?u=RePEc:jet:dpaper:dpaper660&r=sea |
| By: | Tung Manh Ho; Ha Viet Nguyen; Thu Trang Vuong; Hiep-Hung Pham; Nancy K. Napier; Quan-Hoang Vuong |
| Abstract: | Measuring factors affecting scientific productivity is an issue that often draws attention of the scientific community and policy-makers. In Vietnam, the studies about this have just begun for a few years with limited data. Especially, there has been little understanding about what affects the performance on the social sciences research publication productivity yet. This research, using OLS method, analyses the data of 406 Vietnamese social scientists in Scopus within a period of 2008-2017. The results confirm the impact of work environments shown in the varying degrees of influence of collaborations on scientific output β au.ttl(Uni ) = 0.183 ,P |
| Keywords: | Scientific productivity; Research fields; University; Research institute; Collaborations |
| JEL: | I23 O32 |
| Date: | 2017–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:sol:wpaper:2013/252881&r=sea |
| By: | Razak, Razman; Masih, Mansur |
| Abstract: | The palm oil industry is crucial to the Malaysian economy. It is also becoming more relevant and important globally and plays a key role in the expansion of Islamic Finance. Hence, this study aims to ascertain the relationship between crude palm oil prices (CPO) and the stock market (both conventional and Islamic). This study has selected Malaysia as a case study for its reliance on the palm oil industry as well as its position in Islamic Finance. Furthermore, the potential inclusion of the palm oil industry into investment portfolios also warrants the analysis of the co-movement between crude palm oil and stock market indices over varying investment horizons or time scales. Thus, to accomplish this, the Continuous Wavelet Transformation (CWT) and Maximum Overlap Discrete Wavelet Transformation (MODWT) methods were employed. The results tend to indicate that there exists little relation between CPO price returns and both the Conventional and Islamic stock market returns in the short and medium term. Interestingly enough, in the long term, significant co-movement between the variables start to emerge. This is a compelling finding as it provides new information for the investors to diversify their portfolio and time their investments. The result of this study is also a significant contribution to the pool of knowledge which lacks prominent literature on the link between palm oil, the conventional and Islamic stock markets. |
| Keywords: | crude palm oil prices, EMAS Shariah, KLCI, Malaysia, Wavelet |
| JEL: | C58 E44 G15 |
| Date: | 2017–06–12 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:79717&r=sea |
| By: | Kusuma, Aditya; Noy, Ilan; Jackson, Bethanna |
| Abstract: | The potentially adverse effects of droughts on agricultural output are obvious. Indonesian rice farmers have no financial protection from climate risk via catastrophic weather risk transfer tools. Done well, a weather index insurance (WII) program can not only provide resources that enable recovery, but can also facilitate the adoption of prevention and adaptation measures and incentivise risk reduction. Here, we quantify the applicability, viability, and likely cost of introducing a WII for droughts for rice production in Indonesia. To reduce basis risk, we construct district specific indices that are based on the estimation of Panel Geographically Weighted Regressions models. With these spatial tools, and detailed district level data on past agricultural productivity and weather conditions, we present an algorithm that generates an effective and actuarially sound WII, and measure its effectiveness in reducing income volatility for farmers. We use data on annual paddy production in 428 Indonesian districts, reported over the period 1990-2013, and climate data from 1950-2015. We use the monthly Palmer Drought Severity Index and identify district-specific trigger and exit points for the insurance plan. We quantify the impact of this hypothetical insurance product using past production data to calculate an actuarially-robust and welfare-enhancing price for this scheme. |
| Keywords: | Indonesia, Weather index insurance, Droughts, |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:vuw:vuwecf:6393&r=sea |
| By: | Pedro Amakasu Raposo |
| Abstract: | As the first Asia-to-Africa development partnership to see daylight in 1993, the Tokyo International Conference on Africa Development (TICAD) has earned its place in Africa by creating an aid-network never seen before. Arguably, TICAD network produced opposed results: China and India launched similar partnerships with norms and aid practices against DAC norms of aid “tied” to trade and investment activities; represents a disruptive challenge to Japan’s model of partnership. Based on desktop study and structured interviews, it questions about the implications of TICAD normative principles for Africa for Asian development partnerships and for JICA in terms of ownership to understanding whether TICAD has changed them or instead was changed by them. It investigates how TICAD has influenced other emerging powers in Africa, who is “breaking” and why are not “taking” the DAC ODA norms, its implications towards aid effectiveness, the role of JICA and South-South Cooperation (SSC) in these development partnerships. This paper aims at finding points where TICAD normative principles can develop a differentiated view of inclusive and resilient SSC to increase TICAD development cooperation network. It finds that gradually Asian development partnerships differences (key principles and norms) are decreasing and their similarities (key areas and interests, cooperation modalities) are increasing. |
| Date: | 2017–04 |
| URL: | http://d.repec.org/n?u=RePEc:cav:cavwpp:wp152&r=sea |
| By: | Umirah, Fatin; Masih, Mansur |
| Abstract: | This paper is aimed at determining the dynamic links of conventional and Islamic, regional and international equity markets with Shariah compliant equity (FTSE Hijrah Shariah Index) investing in Malaysia using MGARCH-DCC and Wavelet Coherence, given different holding periods. The data for this study is taken for the year 2007-2017. Overall, the results show there is a dynamic link between six sample stocks and this indicates that the Malaysian Shariah Compliant investors can invest in international or regional markets with different investment horizons bearing important implications for portfolio diversification strategies. In particular, the results tend to show that the FTSE Bursa Malaysia Hijrah Shariah Index has the low correlation with global stock market indexes, regardless of conventional or Islamic. However, the correlation between Islamic stocks are quite high. These results have implications for the portfolio diversification by the Malaysian Shariah investors. |
| Keywords: | Stock market, Dynamic link, MGARCH, Wavelet Coherence, Malaysia, FTSE Hijrah Shariah Stock Index |
| JEL: | C58 E44 G11 G15 |
| Date: | 2017–06–14 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:79762&r=sea |
| By: | OECD |
| Abstract: | In some countries and economies, such as Beijing-Shanghai-Jiangsu-Guangdong (China), Qatar,Thailand, Tunisia and the United Arab Emirates, students spend at least 54 hours per week learning at and outside of school combined, whereas in others, like Finland, Germany, Sweden, Switzerland and Uruguay, students spend less than 40 hours studying. Students in Australia, Estonia, Finland, Germany, Japan, the Netherlands, New Zealand, Sweden and Switzerland show the best balance between total learning time and academic performance. In school systems where students spend more time in regular science lessons, average science scores are higher; but when students spend more time studying science after school, average science scores are lower. |
| Date: | 2017–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:oec:eduddd:73-en&r=sea |
| By: | Roth T.M.S Vathana; Abdelkrim Araar; Bopharath Sry; PHANN Dalis |
| Abstract: | We employ 2011–2014 panel data of eleven villages in Cambodia to investigate the impact of microcredit access on paddy quantity and income, expenditure on inputs of paddy production, and self-employment income. The panel data enables us to implement difference-in-differences and triple differences estimators. We find that credit participants observe a 26.1% increase in paddy income, 68.9% in paddy quantity and 26.5% in expenditure on inputs of paddy production. Poorer households benefit more from credit participation. Participants also observe an increased nonland durable assets relative to those of non-participants, particularly agricultural assets. We find week evidence that women participants benefit more from credit programme than male counterparts. Although women are more likely to start selfemployment activities with the loans—mainly in informal sector—the income gains are not statistically different from zero relative to what men earn. |
| JEL: | C11 G21 O1 Q11 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:lvl:pmmacr:2017-17&r=sea |
| By: | International Monetary Fund |
| Abstract: | Since the 2010 FSAP, Indonesia’s macroeconomic performance has been robust and the financial system has been stable. Recently, the financial system has weathered well a simultaneous economic and credit deceleration. Corporate vulnerabilities have remained broadly in check, though debt-at-risk is elevated in some sectors and external refinancing risk persists. The banking system remains sound even though, as economic growth has slowed, banks’ high profitability has fallen somewhat and problem loans have risen. Banks’ capitalization remains strong and well above regulatory minima. |
| Date: | 2017–06–12 |
| URL: | http://d.repec.org/n?u=RePEc:imf:imfscr:17/152&r=sea |
| By: | Uchida, Yoko; Oyamada, Kazuhiko |
| Abstract: | This paper introduces the existing multiregional Input-Output (MRIO) Tables i.e., IDE, ADB, OECD, and GTAP with special attention to the method of constructing import matrix. Also, the similarities and differences among the four MRIO Tables are studied in this paper, setting the IDE table as the benchmark. From the results of comparison of major economic indicators with WDI, IDE and OECD shows similarity to WDI, compared to GTAP and ADB. However, TiVA indicators show considerably different values in motor vehicles and motorcycles in Indonesia. Whereas there is some possibilities Indonesia’s TiVA is overestimation, it can be said that the IDE table might captures the proper production structure. In order to understand the reason why different value in the IDE table occurs, an additional survey on import demand might be required. |
| Keywords: | Input-output tables,International trade,Multiregional Input-Output,Fragmentation,Trade in Value Added measure |
| JEL: | C67 F00 |
| Date: | 2017–03 |
| URL: | http://d.repec.org/n?u=RePEc:jet:dpaper:dpaper663&r=sea |
| By: | Kashiwabara, Chie |
| Abstract: | The central bank of the Philippines (Bangko Sentral ng Pilipinas, BSP) has encouraged the country’s rural banks to merger/consolidate for strengthening their financial soundness and competiveness, and extending branch networks with providing some incentive measures mainly financial supports. Overviewing the cases realized from January 2000 to December 2016, we found (1) the rural banks which are considered to have expansive business strategies spend about a decade to repeat bilateral mergers, unlike BSP’s intention to realize “at least five rural banks” in one merger case, (2) most of the mergers are bilateral and one-off cases, where surviving banks seem to increase some assets and branch(es). In order to further promote mergers/consolidations in the sector, BSP may need to consider modifying the incentive measures to answer actual cases, and/or allying them more closely to the on-going capital increase requirements. |
| Keywords: | Rural credit,Banks,Monetary policy,Mergers,Consolidations,Rural banks,The banking sector,The Philippines |
| JEL: | E42 E52 G38 |
| Date: | 2017–03 |
| URL: | http://d.repec.org/n?u=RePEc:jet:dpaper:dpaper651&r=sea |
| By: | Hamada, Miki |
| Abstract: | We used bank-level data of Indonesian commercial banks to examine the role of bank capital in bank lending. Indonesian commercial bank capitalization has improved with the implementation of bank restructuring programs after the Asian financial crisis. The capital adequacy ratio has returned to a sound level; however, bank loan disbursement continues to remain low. We examine the bank lending channel in Indonesian banks and investigate the effects of monetary policy on bank lending through bank capital. The results indicate that a well-capitalized bank can increase its provisions of bank loans while still not responding to monetary policy, excepting non-forex banks. |
| Keywords: | Banks,Monetary policy,Bank capital,Bank capital channel,Bank lending channel,Indonesia |
| JEL: | G21 G30 N25 |
| Date: | 2017–03 |
| URL: | http://d.repec.org/n?u=RePEc:jet:dpaper:dpaper662&r=sea |
| By: | Naseer, Areef Ahmed; Masih, Mansur |
| Abstract: | The growth of financial market has taken centre stage in today’s world economy. It takes a quarter of a second to change the whole dynamics of an economy. The moment an asset price bubble and burst occurs, the whole economy may collapse. This paper makes an attempt to investigate the existence of housing price bubble by taking Malaysia as a case study. In Malaysia, the housing market is in its boom, naturally housing prices are sky high. There is no consensus in the literature about what is a housing price bubble. The method applied in this study are the standard time series techniques of cointegration, long-run structural modelling, vector error correction, variance decomposition method. To our knowledge, this is the first study on housing bubble based on demand and supply side variables, for a period of 17 years of data. Our findings tend to indicate that variables are cointegrated and market tends to correct any disequilibrium that exists over time. The results also imply that house prices are on the rise. The policy implications are that, though housing prices bubble and burst are not imminent, the upward pressures on housing prices, might require more sustainable measures within the current housing boom period. |
| Keywords: | housing bubble, error-correction model, variance decompositions, Malaysia |
| JEL: | C22 C58 E44 G15 |
| Date: | 2016–12–20 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:79721&r=sea |
| By: | Hosen, Mosharrof; Masih, Mansur |
| Abstract: | This paper is motivated by the heightened interest in investing in Islamic equities. The paper is the first attempt at analysing the Islamic-effect in a cross-sectional stock return framework to individual 141 Islamic and non- Islamic firms using the dynamic GMM and Quantile regression techniques and we believe this is the first paper that investigates the Islamic-effect in such a context. We combine a unique Malaysian data set of individual Islamic stocks (as opposed to aggregate stock indices) since 1997 with a new method where we apply Islamic business activity and financial ratio screens to the universe of Malaysian stocks. Results tend to indicate that there is no significant relationship between Malaysian Islamic firms and average stock returns. We extend our results by using a Quantile regression approach to show that the non-significant Islamic effect is, in fact, changing at different percentiles that affect the cross-sectional expected returns of Malaysian common stocks. Results tend to show that some focus variables like market value and book to market and control variable, oil price are not significant at different percentiles, and this result has important implications for the growing Islamic finance industry around the world. |
| Keywords: | Islamic risk factors, Islamic equities, Malaysia, Dynamic GMM, Quantile regression |
| JEL: | C58 E44 G15 |
| Date: | 2017–06–13 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:79738&r=sea |
| By: | Isaev, Mirolim; Masih, Mansur |
| Abstract: | This paper explores the factors propelling Islamic bank’s non-performing financing in Malaysia for the period of 2010Q4 and 2016Q3. Dynamic OLS is employed to examine the effects of macroeconomic and bank specific variables on each financing categories (mortgage, business and consumer financing). The findings tend to indicate that macroeconomic variables, particularly, the unemployment rate, have strong impact on the level of non-performing financing for each financing portfolio. Adoption of effective risk management policy may ensure to mitigate the systematic risks derived from macroeconomic changes and enhance the level of quality of asset. |
| Keywords: | non-performing financing, Malaysian Islamic banking system, Dynamic OLS, risk management |
| JEL: | C58 E44 G15 G21 |
| Date: | 2017–06–13 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:79719&r=sea |
| By: | Villacin, Deanna T. |
| Abstract: | The study provides an assessment of the disaster risk financing mechanisms in the Philippines. It looks at the sources and levels of disaster financing specifically for recovery and reconstruction. It also looks at the adequacy and execution of the current disaster risk finance and insurance mechanisms. Case studies are presented showcasing detailed analysis at the sectoral level. The study notes that the government has been mainly relying on budget allocations to fund recovery and reconstruction. The uncertainties in terms of annual budget allocations and the protracted funds flow processes slow down reconstruction/rebuilding thus, adversely affecting economic recovery of disaster areas. To mitigate the impact of disaster, the government has to improve its overall disaster risk financing and insurance (DRFI) program. DRFI has to be anchored on an adequate, effective (in terms of implementation or execution), and efficient (i.e., cost efficient and timely) strategy. It requires government to combine the use of various financing and insurance instruments considering risk profile, fiscal position, and market conditions. |
| Keywords: | Philippines, disaster recovery and reconstruction, disaster financing, disaster risk finance and insurance |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:phd:dpaper:dp_2017-21&r=sea |
| By: | Tanaka, Kiyoyasu; Hashiguchi, Yoshihiro |
| Abstract: | This paper examines whether localized clusters of similar industries produce agglomeration economies in the formal and informal sectors. We develop a Bayesian method to estimate a spatial autoregressive model with an endogenous independent variable. We use establishment-level census data that cover both formal registered and informal unregistered establishments in Cambodia. We find that the density of local employment has a significantly positive effect on productivity in the informal sector, but little effect in the formal sector. For manufacturing, a doubling of employment density increases productivity in the informal sector by 9% through local linkages and by 17% through spatial multiplier linkages, leading to a 26% increase in total. A spatial network magnifies the local impact of agglomeration economies in the informal sector. |
| Keywords: | Cambodia,Industry,Informal sector,Productivity,Agglomeration economies,Bayes |
| JEL: | C11 C21 C26 H26 O17 R12 |
| Date: | 2017–05 |
| URL: | http://d.repec.org/n?u=RePEc:jet:dpaper:dpaper666&r=sea |
| By: | Javier López González (OECD) |
| Abstract: | Participation in global value chains (GVCs) can be a pathway for economic development. It is associated with growing productivity, exporting more sophisticated products and a less concentrated export basket (Kowalski et al., 2015). However, it is often argued that these benefits accrue mainly to larger firms and/or multinationals, leaving small and medium sized enterprises (SMEs), which tend to employ the largest share of workers, struggling to benefit from the opportunities offered by the evolving GVC landscape. This paper identifies how SMEs in ASEAN economies participate in GVCs by combining firm level data with the Trade in Value Added (TiVA) database. SMEs in the region might face more constraints than large firms in sourcing competitive inputs, limiting their ability to benefit from GVCs, as indicated by the lower share of foreign value added in their exports. That said, SMEs also tend to export intermediate goods to GVCs either directly, or, importantly, indirectly, through sales to larger domestic or multinational firms which then export. Policies seeking to integrate SMEs into GVCs could aim to address importing constraints through continued unilateral or regional liberalisation or sustained support for trade facilitation and connectivity. At the same time programmes aimed at promoting domestic and international production linkages should allow SMEs to better identify new opportunities and exploit their comparative advantage in the production of intermediate goods and services and integrate, directly or indirectly, into regional and global value chains. |
| Keywords: | globalisation, GVCs, importing, indirect exporting, SMEs, Southeast Asia, trade |
| JEL: | D22 D24 F13 F14 F15 F63 F68 L11 L23 L25 |
| Date: | 2017–06–23 |
| URL: | http://d.repec.org/n?u=RePEc:oec:traaab:203-en&r=sea |
| By: | Francisco, Kris A. |
| Abstract: | It is well recognized in the literature that a country's transport system plays a central role in its development. This paper shows the economic impacts of improvements in the transport system by studying the experience of the Philippines with the roll-on/roll-off (Ro-Ro) policy that promotes the use of Ro-Ro ferry terminal system. Using difference-in-difference strategies in analyzing agricultural household income and children's education, the study finds that the operation of Ro-Ro ports largely benefited the households living near the Ro-Ro ports. More specifically, estimates suggest that agricultural households gained higher income from the operation of these ports because both agriculture- and nonagriculture-related activities were stimulated. Results also imply the boost in nonagriculture-related activities in the islands where the Ro-Ro ports are located. Meanwhile, analysis on children's education reveals an increase in school attendance of males and females in municipalities near the Ro-Ro ports. The study also confirms that there was an increase in family income in these areas, thereby suggesting the increased capacity of households to send children to school. As a whole, the study demonstrates some examples of short- and long-run impacts of improving a country's transport system. Likewise, it highlights the importance of an efficient and affordable transport system in an archipelagic country like the Philippines. |
| Keywords: | Philippines, education, agriculture, transport system, roll-on/roll-off policy, Ro-Ro |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:phd:dpaper:dp_2017-22&r=sea |
| By: | Broni, Mohammed Yaw; Masih, Mansur |
| Abstract: | The importance of Islamic banking is recognized globally. Its development has become a matter of great interest for many economies. Initiatives such as establishment of institutions and regulatory framework in countries that are at the forefront of promoting Islamic banking, have been pursued, yet some stakeholders seem to suggest that Islamic banking development is in stagnation. This may be due to the fact that such initiatives have often ignored the macroeconomic environment in which Islamic banks operate. One such environment is the external debt levels of the country that hosts Islamic banks. The “debt overhang” theory suggests that huge debt levels discourage investment, and may lead to banking crisis. Other theories postulate that external debt provides liquidity which benefits the banking sector. Empirically too, conflicts exist in connection with the impact of external debt on the banking sector. While some findings report that external debts have effect on bank loan prices, others find banking crisis to be insensitive to external debt burden. This paper has two objectives; firstly, to investigate the impact of external debt on Islamic banking development, and secondly to find out whether the relationship between external debt and Islamic banking development is linear or non-linear. Analyzing ten years’ monthly data of Malaysia using VECM, Quantile Regression and Markov Regime Switching techniques, the findings tend to suggest that there exists a positive relationship between external debt and Islamic banking development, which seems to be non-linear. Under sound economic conditions, the impact of external debt on Islamic banking development is significantly positive, but the impact is insignificant during economic downturn and uncertainties. |
| Keywords: | External debt, Islamic banking sector, Malaysia, Quantile regression, Markov regime switching |
| JEL: | C58 E44 G15 G21 |
| Date: | 2017–06–12 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:79758&r=sea |
| By: | Marconi, Daniela |
| Abstract: | The internationalization of China’s currency, the renminbi (RMB) bolsters the growing economic and political influence of China in the Asia-Pacific region. This paper assesses the evolution of RMB exchange rate co-movements against the US dollar (USD) within the region. While the RMB’s influence is growing, it is also found to be asymmetric and varying over time depending on the global movement of the USD. The trend is strong when the USD depreciates, but fades when the USD appreciates. |
| JEL: | F31 F33 |
| Date: | 2017–06–13 |
| URL: | http://d.repec.org/n?u=RePEc:bof:bofitp:2017_010&r=sea |
| By: | Cuizhen Niu (School of Statistics, Beijing Normal University, Beijing.); Xu Guo (School of Statistics, Beijing Normal University, Beijing.); Wing-Keung Wong (Department of Finance, Asia University, Taiwan Department of Economics, Lingnan University, Hong Kong.); Michael McAleer (Department of Quantitative Finance National Tsing Hua University, Taiwan and Econometric Institute Erasmus School of Economics Erasmus University Rotterdam, The Netherlands and Department of Quantitative Economics Complutense University of Madrid, Spain And Institute of Advanced Sciences Yokohama National University, Japan.) |
| Abstract: | Homm and Pigorsch (2012a) use the Aumann and Serrano index to develop a new economic performance measure (EPM), which is well known to have advantages over other measures. In this paper, we extend the theory by constructing a one-sample confidence interval of EPM, and construct confidence intervals for the difference of EPMs for two independent samples. We also derive the asymptotic distribution for EPM and for the difference of two EPMs when the samples are independent. We conduct simulations to show the proposed theory performs well for one and two independent samples. The simulations show that the proposed approach is robust in the dependent case. The theory developed is used to construct both onesample and two-sample confidence intervals of EPMs for Singapore and USA stock indices. |
| Keywords: | Economic performance measure; Asymptotic confidence interval; Bootstrapbased confidence interval; Method of variance estimates recovery. |
| JEL: | C12 C15 |
| Date: | 2017–06 |
| URL: | http://d.repec.org/n?u=RePEc:ucm:doicae:1718&r=sea |
| By: | Seo-Young Cho (Philipps-University Marburg) |
| Abstract: | This paper investigates the role of social capital in determining one’s competitiveness. The analysis exploits the data of the PISA test in math because competitive occupational choices often require high quantitative skills. The empirical results highlight that a higher level of trust in school promotes one’s competition, participation, and motivation in math. However, this positive effect of trust maintains mainly in mixed-sex environments but not in single-sex competitions. The trust effect is exhausted in gender-matching environments, probably because single-sex matches reduce unfairness caused by gender discrimination. In addition to that, the effects of social capital are heterogeneous across countries. This country-asymmetric effect implies that the role of social capital is culturally defined and mediated. |
| Keywords: | gender; competitiveness; math studies; social capital; trust; trustworthiness; gender matching environments; institutions; survey; and East Asia. |
| JEL: | I24 J16 O17 O53 |
| Date: | 2017 |
| URL: | http://d.repec.org/n?u=RePEc:mar:magkse:201723&r=sea |
| By: | Nabeshima, Kaoru; Kashcheeva, Mila; Kang, Byeongwoo |
| Abstract: | Many countries are interested in strengthening their technological capabilities to achieve high growth rates. Knowledge flow is a key to build technological capabilities. This paper investigates how competition in international trades affects knowledge flow between countries. There are two findings. First, the results in the current paper shows that import is indeed an important avenue for knowledge flow, conforming with the results from the previous literature. Second, what is interesting and new is that export competition in the third market (in our study, the US market) seems to also have a positive impact on the flow of knowledge. The finding from this study contributes to the debate on “learning-by-exporting”. |
| Keywords: | Research & development,Industrial technology,Technological innovations,Technology transfer,International trade,Knowledge flow,Learning-by-export,East Asia |
| JEL: | F14 D83 D53 |
| Date: | 2017–04 |
| URL: | http://d.repec.org/n?u=RePEc:jet:dpaper:dpaper654&r=sea |
| By: | Carlos Sangreman |
| Abstract: | Este Working Paper é resultante do Relatório sobre os Direitos Humanos Económicos e Sociais na Guiné-Bissau, editado em livro pela Liga dos Direitos Humanos da Guiné-Bissau, pela Associação para a Cooperação entre Povos (ACEP) e pelo Centro de Estudos sobre África, Ásia e do Desenvolvimento (CESA) com financiamento da União Europeia e da Cooperação Portuguesa, que compila o terceiro e último ano do projeto Observatório dos Direitos. Este projecto analisou os dados recolhidos, no período de 2014 a 2016, nas regiões de Bissau (com exceção de Bolama/Bijagós), em função dos indicadores: Educação; Saúde; Habitação, água, energia e saneamento; Justiça e Meios de Subsistência. |
| Date: | 2017–06 |
| URL: | http://d.repec.org/n?u=RePEc:cav:cavwpp:wp155&r=sea |