nep-sea New Economics Papers
on South East Asia
Issue of 2018‒01‒08
27 papers chosen by
Kavita Iyengar
Asian Development Bank

  1. Inequality of Opportunities Among Ethnic Groups in the Philippines By Reyes, Celia M.; Mina, Christian D.; Asis, Ronina D.
  2. What Determines Financial Inclusion in the Philippines? Evidence from a National Baseline Survey By Llanto, Gilberto M.; Rosellon, Maureen Ane D.
  3. Crop Insurance Program of the Philippine Crop Insurance Corporation: Integrative Report from the Five Case Regions in the Philippines By Reyes, Celia M.; Mina, Christian D.; Agbon, Adrian D.; Arboneda, Arkin
  4. Does Information Empower the Poor? Evidence from Indonesia's Social Security Card By Tohari, Achmad; Parsons, Christopher; Rammohan, Anu
  5. Informal versus Formal: A Panel Data Analysis of Earnings Gaps in Madagascar By Christophe Jalil Nordman; Faly Rakotomanana; François Roubaud
  6. Household Entrepreneurship and Social Networks: Panel Data Evidence from Vietnam By Huu Chi Nguyen; Christophe Jalil Nordman
  7. Dengue Spread Modeling in the Absence of Sufficient Epidemiological Parameters: Comparison of SARIMA and SVM Time Series Models By Jerelyn Co; Jason Allan Tan; Ma. Regina Justina Estuar; Kennedy Espina
  8. Social Protection and Access to Health Care among Children in the Philippines By Abrigo, Michael R.M.; Paqueo, Vicente B.
  9. Uncovering Powerful East Asian Women Politicians in News Media By Tsz Lam Ngai
  10. Assessment of Agribusiness Venture Arrangements and Sugarcane Block Farming for the Modernization of Agriculture By Pantoja, Blanquita R.; Alvarez, Joanne V.; Sanchez, Flordeliza A.
  11. HIV/AIDS Knowledge and Sexual Behavior of Female Young Adults in the Philippines By Abrigo, Michael R.M.
  12. Food and biosecurity: livestock production and towards a world free of foot-and-mouth disease By Tom Kompas; Hoa-Thi-Minh Nguyen; Pham Van Ha
  13. Do Skewed Sex Ratios Among Children Promote Parental Smoking? Longitudinal Evidence from Rural China By Chen, Xi
  14. The political economy of policy exceptionalism during economic transition: the case of rice policy in Vietnam By Nguyen, H.T.M.; Do, H.; Kay, A.; Kompas, T.; Nguyen, C.N.; Tran, C.T.
  15. Inequality, ethnicity, and social cohesion By Omar Shahabudin McDoom
  16. Trade, Financial Flows and Stock Market Interdependence: Evidence from Asian Markets By Sowmya Dhanaraj; Arun Kumar Gopalaswamy; M. Suresh Babu
  17. The evaluation of geometric Asian power options under time changed mixed fractional Brownian motion By Foad Shokrollahi
  18. Assessment of Planning and Programming for Capital Projects at the National and Agency Levels By Patalinghug, Epictetus E.
  19. Evaluation and Assessment of the Effectiveness of the DSWD Internal and External Convergence as Operationalized by the Regional, Provincial, and City/Municipal Action Teams By Albert, Jose Ramon G.; Dacuycuy, Connie B.
  20. Lead user method vs. innovation contest: An empirical comparison of two open innovation methodologies for identifying social innovation for flood Resilience in Indonesia By Goeldner, Moritz; Kruse, Daniel J.; Herstatt, Cornelius
  21. Revenue Nodes in South India and Central Java By Hoadley, Mason; Hatti, Neelambar
  22. Explanatory factors behind formalizing non-farm household businesses in Vietnam By Jean-Pierre Cling; Mireille Razafindrakoto; François Roubaud
  23. First-Order Asymptotics of Path-Dependent Derivatives in Multiscale Stochastic Volatility Environment By Yuri F. Saporito
  24. The Macro-Fiscal Aftermath of Weather-Related Disasters: Do Loss Dimensions Matter? By Kerstin Gerling
  25. Refugees and the Future World: Fuelling conflict of Ethnicities? By Md. Rajin Makhdum Khan; Faizah Imam
  26. Taille des villes, urbanisation et spécialisations économiques ; Une analyse sur micro-données exhaustives des 10 000 localités maliennes By Claire Bernard; Sandrine Mesplé-Somps; Gilles Spielvogel
  27. Religious Extremism versus Extremes of Desacralisation: Rethinking the Status of Religious Education By Abdurezak Abdulahi Hashi

  1. By: Reyes, Celia M.; Mina, Christian D.; Asis, Ronina D.
    Abstract: This paper contributes to the scant body of literature on inequalities among and within ethnic groups in the Philippines by examining both the vertical and horizontal measures in terms of opportunities in accessing basic services such as education, electricity, safe water, and sanitation. The study also provides a glimpse of the patterns of inequality in Mindanao. The results show that there are significant inequalities in opportunities in accessing basic services within and among ethnic groups in the Philippines. Muslims (particularly the indigenous people) are the worst-off ethnic groups while the nonindigenous/ non-Muslim groups are the better-off groups. Disparities in terms of literacy rate and access to electricity and sanitation between ethnic groups, however, appear to be narrowing between 2000 and 2010.
    Keywords: Philippines, income inequality, ethnic groups, inequality, indigenous people
    Date: 2017
    URL: http://d.repec.org/n?u=RePEc:phd:dpaper:dp_2017-42&r=sea
  2. By: Llanto, Gilberto M.; Rosellon, Maureen Ane D.
    Abstract: This paper contributes to the literature on financial inclusion in the Philippines by examining three key financial services, namely, savings, credit, and insurance, and identifying individual socioeconomic characteristics that are associated with access to these financial services. Financial inclusion is also analyzed in the context of four geographical areas in the Philippines--National Capital Region, balanced Luzon, Visayas, and Mindanao--which provides more insights and a better understanding of financial inclusion. Using data collected from the national baseline survey of financial inclusion, estimation results indicate that sociodemographic characteristics such as age, sex, civil status, education, employment, and income are associated significantly with accessing various financial products and services. Findings also suggest similarities in the socioeconomic profiles of users and nonusers of financial services in the four geographic areas, while differences appear to be related to the presence of banks and other formal financial institutions. These results provide useful inputs to policy and strategies for attaining inclusive finance.
    Keywords: Philippines, financial inclusion, inclusive finance
    Date: 2017
    URL: http://d.repec.org/n?u=RePEc:phd:dpaper:dp_2017-38&r=sea
  3. By: Reyes, Celia M.; Mina, Christian D.; Agbon, Adrian D.; Arboneda, Arkin
    Abstract: Risk is a daily reality especially among agricultural producers in developing countries, thus agricultural insurance is of interest to farmers, policymakers, insurance companies, and development finance institutions. From a survey data of 2,512 farmers, this paper sheds light on the possible factors affecting insurance availment among the farmers in five selected regions in the Philippines. The farmers' reasons for availing of crop include: encouraged by neighbors, friends, relatives and because of the agricultural technicians in the local government unit. Farmers also shared that insurance is a requirement for getting a loan. Among the possible factors for insurance uptake, level of education, farming experience, and membership in farmer organization are significant factors in the availment of crop insurance from the Philippine Crop Insurance Corporation. Increasing coverage rate of crop insurance among farmers remains to be a challenge in a highly subsidized crop insurance program of the Philippines.
    Keywords: Philippines, poverty, crop insurance, PCIC, risks and shocks in agriculture, Philippine Crop Insurance Corporation
    Date: 2017
    URL: http://d.repec.org/n?u=RePEc:phd:dpaper:dp_2017-39&r=sea
  4. By: Tohari, Achmad (University of Western Australia); Parsons, Christopher (University of Western Australia); Rammohan, Anu (University of Western Australia)
    Abstract: In 2013, the Government of Indonesia conducted one of the largest information interventions in histo-ry, in an attempt to further alleviate poverty and as a complement to the Social Protection Card (KPS). Drawing upon administrative data and nationally representative surveys, we evaluate the impact of the information campaign on the receipt of two of Indonesia's largest social programs, the Raskin (rice for the poor) and the BLSM (temporary unconditional cash transfers). Exploiting the design of the Raskin program, we implement a (normalised) fuzzy regression discontinuity methodology across 482 Indonesian districts, using program eligibility as an instrument for having received the information treatment. Further corroborating our results with semi-parametric and parametric techniques, we show that the information treatment increases the amount of rice received under the Raskin program by around 30 percentage points. In terms of the BLSM, we further show that the information treatment reduces the likelihood of elite capture by local leaders by around 25 percentage points. We also provide evidence that understanding the information treatment is crucial for poor household's out-comes, since fully informed households receive their full entitlement of rice.
    Keywords: information, Indonesia, targeting, poverty
    JEL: D04 D73 I32 I38 O12
    Date: 2017–11
    URL: http://d.repec.org/n?u=RePEc:iza:izadps:dp11137&r=sea
  5. By: Christophe Jalil Nordman (LEDa - Laboratoire d'Economie de Dauphine - Université Paris-Dauphine); Faly Rakotomanana (INSTAT - INSTAT Madagascar - INSTAT Madagascar); François Roubaud (LEDa - Laboratoire d'Economie de Dauphine - Université Paris-Dauphine)
    Abstract: In spite of its predominant economic weight in developing countries, little is known about informal sector income dynamics vis-à-vis the formal sector. Some works have been done in this field using household surveys, but they only consider some emerging Latin American countries (Argentina, Brazil, Colombia and Mexico; Gong et al., 2004; Perry et al., 2007; Bargain and Kwenda, 2011) and more recently South Africa, Ghana and Tanzania for Africa (Falco et al., 2010) and Vietnam for Asia (Nguyen et al., 2011). As a matter of consequence, there is still no way to generalize the (diverging) results to very poor part of the developing world. Taking advantage of the rich 1-2-3 Surveys dataset in Madagascar, in particular its four waves panel data (2000, 2001, 2003 and 2004), we assess the magnitude of various formal/informal sector earnings gaps while addressing heterogeneity issues at three different levels: the worker, the job (wage employment vs. selfemployment) and the earnings distribution. The questions asked are the following: Is there an informal sector job earnings penalty? Do some informal sector jobs provide pecuniary premiums? Which ones? Do possible gaps vary along the earnings distribution? Standard earnings equations are estimated at the mean and at various conditional quantiles of the earnings distribution. In particular, we estimate fixed effects quantile regressions to control for unobserved individual characteristics, focusing particularly on heterogeneity within both the formal and informal sector categories. Our results suggest that the informal sector earnings gap highly depends on the workers’ job status and on their relative position in the earnings distribution. Penalties may in some cases turn into premiums. By comparing our results with studies in other developing countries, we draw conclusions highlighting the Madagascar’s labour market specificity.
    Keywords: informal employment,earnings gap,transition matrix,quantile regressions,panel data,Madagascar
    Date: 2017–10–20
    URL: http://d.repec.org/n?u=RePEc:hal:wpaper:hal-01620250&r=sea
  6. By: Huu Chi Nguyen (Développement, Institutions & Mondialisation - IRD - Institut de Recherche pour le Développement - Université Paris-Dauphine, LEDa - Laboratoire d'Economie de Dauphine - Université Paris-Dauphine); Christophe Jalil Nordman (Développement, Institutions & Mondialisation - IRD - Institut de Recherche pour le Développement - Université Paris-Dauphine, LEDa - Laboratoire d'Economie de Dauphine - Université Paris-Dauphine)
    Abstract: Using a unique panel of household businesses for Vietnam, this paper sheds light on the links between households’ and entrepreneurs’ social networks and business performance. We address two related questions. One first question asks if we can find evidence of a differentiated effect of employment of members of the family versus hired workers on the business performance. A second question tackles the respective effects of various dimensions of social networks on the business technical efficiency. The assumption is that, beyond the channel of labour productivity, entrepreneurs that are confronted with an unfavourable social environment may produce less efficiently and realize a lower output than what could be possible with the same amount of resources. We find evidence of a productivity differential between family and hired labour and highlight results consistent with the presence of adverse social network effects faced by households running a business, in particular ethnic minorities. We stress the importance of professional networks for successful entrepreneurship.
    Abstract: En utilisant un panel de microentreprises familiales au Vietnam, cet article met en relation le réseau social des entrepreneurs et de leur ménage avec la performance de la microentreprise familiale. Nous abordons deux questions connexes. La première examine la possibilité d'effets différenciés de l'emploi des membres de la famille par rapport à des travailleurs recrutés sur le marché du travail sur la performance de la microentreprise. Une deuxième question aborde les effets respectifs des différentes dimensions des réseaux sociaux sur l'efficience technique de la microentreprise. L'hypothèse testée est que, au-delà du canal de la productivité du travail, les entrepreneurs qui sont confrontés à un environnement social défavorable pourraient produire moins efficacement et réaliser une valeur ajoutée plus faible que ce qui pourrait être possible avec la même quantité de ressources. Nous montrons qu'il existe en effet un différentiel de productivité entre le travail familial et le travail recruté sur le marché, et nos résultats attestent de la présence d'effets défavorables du réseau social pour certains ménages gérant une microentreprise. Nous soulignons aussi l'importance des réseaux professionnels pour la réussite de l'entreprenariat familial.
    Keywords: Social network capital,Sharing norms,Informality,Household business,Vietnam,Family labour,Kinship and ethnic ties,Travail familial,Liens ethniques et de parenté,Normes de partage,Capital du réseau social,Informalité,Microentreprises familiales,Panel
    Date: 2017–10–19
    URL: http://d.repec.org/n?u=RePEc:hal:wpaper:hal-01619799&r=sea
  7. By: Jerelyn Co (Ateneo de Manila University); Jason Allan Tan (Ateneo de Manila University); Ma. Regina Justina Estuar (Ateneo de Manila University); Kennedy Espina (Ateneo de Manila University)
    Abstract: Dengue remains to be a major public health concern in the Philippines, claiming hundreds of lives every year. Given limited data for deriving necessary epidemiological parameters in developing deterministic disease models, forecasting as a means in controlling and anticipating outbreaks remains a challenge. In this study, two time series models, namely Seasonal Autoregressive Integrated Moving Average and Support Vector Machine, were developed without the requirement for prior epidemiological parameters. Performances of the models in predicting dengue incidences in the Western Visayas Region of the Philippines were compared by measuring the Root Mean Square Error and Mean Average Error. Results showed that the models were both effective in forecasting Dengue incidences for epidemiological surveillance as validated by historical data. SARIMA model yielded average RMSE and MAE scores of 16.8187 and 11.4640, respectively. Meanwhile, SVM model achieved scores of 11.8723 and 7.7369, respectively. With the data and setup used, this study showed that SVM outperformed SARIMA in forecasting Dengue incidences. Furthermore, preliminary investigation of one-month lagged climate variables using Random Forest Regressor’s feature ranking yielded rain intensity and value as top possible dengue incidence climate predictors
    Keywords: SARIMA, SVM, Dengue Fever, Time Series Modeling, Feature importance
    Date: 2017
    URL: http://d.repec.org/n?u=RePEc:smo:opaper:22&r=sea
  8. By: Abrigo, Michael R.M.; Paqueo, Vicente B.
    Abstract: The Philippines recently introduced two distinct but related large-scale social protection programs that, first, provides conditional cash transfers (CCT) to poor households, and, second, automatically enrolls them into the government's social health insurance program. This has resulted to dramatic increase in health insurance coverage, especially among the poor. In this paper, we empirically assess the joint impact of the two programs on the health-care demand for children. Overall, we find encouraging impacts of social protection on the demand for health-care services. While we find no direct impact on morbidity, our results suggest that the social health insurance and the CCT program jointly were able to induce greater hospital visits for both preventive and curative care, and lower out-of-pocket expenditures. However, we also document possible leakages in the government's programs, as well as potential indication of health-care service differentiation based on quality. Both these concerns may undermine the expected outcomes of the country's social protection programs.
    Keywords: Philippines, social health insurance, CCT, social protection, conditional cash transfer
    Date: 2017
    URL: http://d.repec.org/n?u=RePEc:phd:dpaper:dp_2017-36&r=sea
  9. By: Tsz Lam Ngai (University of Cambridge, UK)
    Abstract: This article investigated the media representation of women politicians in mediated political communication in the context of Hong Kong, China. It attempted to supplement the previous feminism scholarship on media representation of women activists, which largely situated in Western contexts, with the example from East Asia. Contrary to the studies worldwide which argued that women politicians were confined to the trivialized topics in news media, this article demonstrated that the East Asian women politicians in Hong Kong, a special administrative region of China which was colonized by Britain, were visible in a larger variety of topics than their male counterparts in newspapers and they were more often directly quoted than the male politicians. Also, the number of editorials women politicians wrote to the mainstream press was significantly higher than the men did. Despite these, those articles the women are in occupied latter sections. A subtler analysis also discovered that the promising trends applied only to a few celebrity women politicians. These findings were based on a content analysis of 946 news articles in four Hong Kong newspapers. The conclusion discussed how the findings could inform readers about the stereotype towards East Asia as a highly patriarchal culture influenced by Confucianism in contemporary mediated political communication.
    Keywords: media representation, politics, gender, women in power, celebrity, East Asia
    Date: 2017
    URL: http://d.repec.org/n?u=RePEc:smo:opaper:13&r=sea
  10. By: Pantoja, Blanquita R.; Alvarez, Joanne V.; Sanchez, Flordeliza A.
    Abstract: After completion of their land reform program, countries such as Japan, South Korea, and Taiwan implemented land consolidation to effect economies of scale specifically in the adoption of modern technologies. Land consolidation plans included the physical reallocation of parcels, joint farming through land exchanges and sale, temporary quasi-land acquisition, and land renovation. In the Philippines, land consolidation to improve farm productivity and income was pursued through Agribusiness Venture Arrangements (AVAs) and the Sugarcane Block Farming (SBF). The objective of this study is to assess the performance of AVAs and SBF in increasing farm productivity and income in the agrarian sector. The case study approach was used focusing on three export crops, namely, banana, pineapple, and sugarcane which were selected based on their significant contribution to the Philippines' export earnings as well as to gross value added of agriculture. The study notes several issues on production and capital investments, marketing and pricing, institutional support, and contract terms that affect the implementation of AVAs and SBF. It recommends that AVAs, SBF arrangements should be encouraged, but government has to provide a policy environment for Philippine exports crops to be competitive. Agrarian reform beneficiaries and their associations should also be supported through capacity-building activities and access to legal advice.
    Keywords: Philippines, agrarian reform, banana, sugarcane, pineapple, Agribusiness Venture Arrangements, AVAs, Sugarcane Block Farming, SBF, commercial crops
    Date: 2017
    URL: http://d.repec.org/n?u=RePEc:phd:dpaper:dp_2017-35&r=sea
  11. By: Abrigo, Michael R.M.
    Abstract: The impact of sex education on various behavioral outcomes has been well studied in the literature. However, these studies fail to account for the simultaneity between knowledge demand and sexual behavior, leading to inconsistent effect estimates using simple comparison of means from randomized control interventions. A theoretical model of sexual behavior and sexually transmitted infection (STI) information demand is proposed to motivate the discussion. We show that the effect of STI knowledge on sexual behavior depends on how information affects the expected cost from sexual activity. We provide empirical evidence using Philippine data that increasing HIV/AIDS knowledge delays sexual initiation, limits sexual activity, and increases condom use among some subpopulation of female young adults.
    Keywords: Philippines, health behavior, sex education
    Date: 2017
    URL: http://d.repec.org/n?u=RePEc:phd:dpaper:dp_2017-33&r=sea
  12. By: Tom Kompas; Hoa-Thi-Minh Nguyen; Pham Van Ha
    Abstract: A key challenge for global livestock production is the prevalence of infectious animal diseases. These diseases result in low productivity in meat and dairy production, culled animals, and significant barriers to trade and lost income from meat and meat products. Foot-and-mouth disease (FMD) affects both developing countries, where it is often endemic and very costly, and developed countries where incursions result in considerable economic losses in the order of billions of dollars per year. In some cases, production levels of pork meat in developed countries have still not recovered to levels prior to past disease incursions, more than a decade ago. In developing countries, the export of animal products has exhibited sluggish growth for decades, constrained by ongoing animal disease problems.We make three contributions. First, we provide an overview of worldwide meat production, consumption and trade in the context of FMD. Second, we provide insights into the economics of biosecurity measures and how these activities should be optimally designed to enhance livestock production. Third, we analyse a case study of an FMDendemic country, Vietnam, which has been trying to achieve FMD-free status for some time. Lessons learnt from this case study shed light on the challenges in achieving FMD-free status in developing countries, which is useful for a global FMD control strategy and the promotion of world food security.
    Keywords: Livestock production, Trade, Biosecurity, Foot-and-mouth disease, Vietnam
    Date: 2017–09
    URL: http://d.repec.org/n?u=RePEc:een:crwfrp:1709&r=sea
  13. By: Chen, Xi
    Abstract: China and some other Asian countries have experienced skewed sex ratios, triggering intense competition and pressure in the marriage market. Meanwhile, China has more smokers than any other country, with half of men smoke while few women smoke. Men are the major income earners in most Chinese families and thus bear much of the financial burden in preparation for children’s marriage. This paper investigates how a demographic factor – a large number of surplus men in the marriage market in China – affects their fathers’ smoking behavior. We utilize two household longitudinal surveys as well as a random subsample of the China Population Census to examine fathers’ smoking in response to skewed sex ratios. Strikingly, fathers smoke more for families with a son living in communities with higher sex ratios. In contrast, those with a daughter do not demonstrate this pattern. Coping with the marriage market pressure is a more plausible pathway linking the observed skewed sex ratios among children and intense smoking among fathers. Considering worsening sex ratios and highly competitive marriage market in the coming decade as well as lasting health impacts due to smoking, policies suppressing unbalanced sex ratios could lead to welfare gains.
    Keywords: Sex Ratios,Marriage Market,Paternal Smoking,Stress
    JEL: J13 D12 I19
    Date: 2017
    URL: http://d.repec.org/n?u=RePEc:zbw:glodps:159&r=sea
  14. By: Nguyen, H.T.M.; Do, H.; Kay, A.; Kompas, T.; Nguyen, C.N.; Tran, C.T.
    Abstract: The global food security agenda depends on the world rice market which is the thinnest among key cereal markets and often distorted by government interventions. Existing literature suggests that these interventions are not economically efficient. This paper focuses on the political economy of those interventions, asking why they were adopted. The answer is drawn from insights on Vietnam as a case study. Although by no means a representative case, Vietnam is chosen not only for being a key rice exporter but especially so for its unique success in overcoming the inherent tension between `socialist' and `market-based' objectives during its transition to a market-based economy, albeit with a socialist orientation. We find that rice sector in Vietnam has not been fully reformed to follow market rules despite Vietnam's accession to the World Trade Organization. This is due to the interaction of economic liberalisation processes and the ruling Communist Party's political survival strategy. In this context, seemingly economic disequilibria are shown to be stable, enduring policy settings. In open economy politics, the case reveals how economically sub-optimal policies may be `successful' politically even in the face of what appear to be severe domestic political constraints on reform from external economic pressures.
    Keywords: Food policy, rice, political economy, Vietnam, Communist Party
    Date: 2017–12
    URL: http://d.repec.org/n?u=RePEc:een:crwfrp:1713&r=sea
  15. By: Omar Shahabudin McDoom
    Abstract: How do changes in socio-economic inequality between ethnic groups affect interethnic ties in a divided society? I analyse the evolution of cross-ethnic marriages in a society affected by violence along ethnic boundaries and make three principal findings. First, as inequality between ethnic groups increases, the prospects of interethnic marriages decline. Status equalization between ethnic groups promotes cross-ethnic ties. Insofar as intermarriage indicates social cohesion, reducing ethnic inequality in multiethnic societies may facilitate ethnic integration. Second, the effect of ethnic inequality is not uniform across ethnic groups. Endogamy remains high among certain groups even when socio-economic disparities diminish. I suggest this is because the ethnic norms and sanctions proscribing outmarriage are particularly powerful within these groups. Third, the social and political salience of ethnic boundaries may be distinct. Intermarriages can increase even as civil war violence intensifies. Ethnic divisions risk being overstated by assuming political attitudes also drive choices in the social sphere. I establish these findings in the deeply-divided society of Mindanao in the southern Philippines by analysing over 6.2 million marriages and comparing individual-level census data for the years 2000 and 2010. Mindanao is home to a longstanding insurgency, waged by rebels drawn from the native Muslim Moro population resentful of their minoritization and dispossession by Christian settlers.
    Date: 2017
    URL: http://d.repec.org/n?u=RePEc:unu:wpaper:wp2017-204&r=sea
  16. By: Sowmya Dhanaraj (Lecturer, Madras School of Economics); Arun Kumar Gopalaswamy (IIT Madras, India); M. Suresh Babu (IIT Madras, India)
    Abstract: Liberalization and globalization of Newly Industrialized Economies have contributed to increased integration of capital markets. This study tests whether convergence of macroeconomic variables and enhanced bilateral trade and financial flows causes greater interdependence of markets. Daily closing indices and quarterly differentials in interest, inflation, growth rates, exchange rates, trade of goods and services, direct and portfolio investment were used. Results revealed that markets of Asia are not immune to shocks originating in US although co-movements of macroeconomic variables do not help in explaining level of interdependence. Portfolio flows were found to be important than trade flows in explaining market interdependence.
    Keywords: Dynamic market interdependence, US and Asian Newly Industrialized Economies (NIEs), Emerging Market Economies (EMEs), FEVD, Trade and Financial Flows
    JEL: F4 G1
    URL: http://d.repec.org/n?u=RePEc:mad:wpaper:2017-158&r=sea
  17. By: Foad Shokrollahi
    Abstract: The aim of this paper is to evaluate geometric Asian option by a mixed fractional subdiffusive Black-Scholes model. We derive a pricing formula for geometric Asian option when the underlying stock follows a time changed mixed fractional Brownian motion. We then apply the results to price Asian power options on the stocks that pay constant dividends when the payoff is a power function. Finally, lower bound of Asian options and some special cases are provided.
    Date: 2017–12
    URL: http://d.repec.org/n?u=RePEc:arx:papers:1712.05254&r=sea
  18. By: Patalinghug, Epictetus E.
    Abstract: This study assesses the existing planning and programming systems for capital projects at the national and agency levels, examines the experiences of other countries in planning and programming capital projects, and presents recommendations to improve planning and programming systems in the country. The study employs a combination of document review of public investment planning and programming process, a comparative analysis of international experiences, and key informant interviews. The study shows that the country's current planning and programming systems have strengths and weaknesses. The strengths are the recent reform orientation of the oversight agencies and their policy coordination, while weaknesses are the inconsistency in the oversight program and output indicators, and the institutional weakness of the project approval process. The study suggests that international best practices be adopted, and recommends institutional reforms such as establishment of online public investment project database as well as a multiyear planning and budgeting system fully costed and coordinated with the budget process and consistent with the long-term fiscal projections which are regularly updated and reviewed, among others.
    Keywords: Philippines, infrastructure, infrastructure development, capital projects, public investment planning, planning and programming systems, infrastructure projects
    Date: 2017
    URL: http://d.repec.org/n?u=RePEc:phd:dpaper:dp_2017-37&r=sea
  19. By: Albert, Jose Ramon G.; Dacuycuy, Connie B.
    Abstract: This study aims to describe and examine organizational structures, business processes, and capacity development, as they relate to the design of the Department of Social Welfare and Development's (DSWD) Convergence Strategy. The process evaluation is useful from an organizational learning perspective since DSWD wants to improve the quality of its work. This process evaluation employed a mixed-methods approach which integrates qualitative and quantitative analysis. Key findings on organizational structures underscore the need to take stock of DSWD documents and update them; key findings on business processes emphasize the need to strengthen information technology initiatives for internal and external use; and key findings on capacity development include the need to define specific deliverables on internal and external convergence at all levels. There is also a need to strengthen feedback channels and data sharing for enhancing strategic external partnerships.
    Keywords: Philippines, DSWD, social protection, process evaluation, convergence strategy, organizational structures, business processes, capacity and partnership development
    Date: 2017
    URL: http://d.repec.org/n?u=RePEc:phd:dpaper:dp_2017-32&r=sea
  20. By: Goeldner, Moritz; Kruse, Daniel J.; Herstatt, Cornelius
    Abstract: Organizations in the humanitarian sector often face problems that are hard to solve owing to their complexity and high hidden solution knowledge. We investigate two problem-solving governance mechanisms in the case of floods in Indonesia. In our study, we compare the costs and benefits of two open innovation tools for identifying social innovation: an innovation contest and the lead user method. An innovation contest is a challenge among participants, who submit potential solutions to a problem that is posted in an open call. In contrast, the lead user method is a structured search process to identify innovators who have already developed solutions for their own needs or those of their peers. While innovation contests have seen significant attention, there is very little evidence that the lead user method is a suitable tool to identify social innovation. In our study, the contest yielded more than twice as much submissions as the lead user method (60 vs. 25). Our analysis reveals that concepts obtained by the lead user method score significantly higher in overall quality as well as regarding use value, feasibility, degree of elaboration, and social impact. The concepts' novelty do not significantly differ between the two groups. We discuss these findings against the background of the humanitarian sector being torn between capacity overload and the need to overcome a one-size-fits-all approach. By transferring two recognized governance forms for innovation identification from the private sector to the humanitarian sector, we introduce a new path towards empowering local innovators to solve humanitarian challenges.
    Date: 2017
    URL: http://d.repec.org/n?u=RePEc:zbw:tuhtim:101&r=sea
  21. By: Hoadley, Mason (Centre for Languages and Literature, Lund University); Hatti, Neelambar (Department of Economic History, Lund University)
    Abstract: Studies of relations binding ruled and ruler over the form and content of revenue assessment during the colonial era are not lacking. Rather, the intellectual challenge lies in ascertaining the degree to which the relevant economic institutions of the subjected regions in southern Asia constituted continuity of tradition, modifications thereof, or completely alien constructs. Meeting that challenge is hindered by inequality of information revealing ‘before’ and ‘after’ conditions; an embarrassment of riches in information on the latter contrasts to poverty of the former. The present paper aims at least partially filling that gap by ascertaining in comparative perspective the basis of the revenue assessment systems prevailing in South India (Karnataka) and Central Java (Yogyakarta) during the late eighteenth and early nineteenth centuries. What makes such an undertaking not only desirable from a scholarly point of view but also possible in practice is the near unique finds of virtually untapped original source materials deriving from the respective institutions’ function.
    Keywords: Revenue assessment; Land tenure; Inequality; Archival sources; Kaditas; South India; Central Java; Local administrative traditions; Colonial policy
    JEL: H71 N35 N45 N95 Q15
    Date: 2017–12–15
    URL: http://d.repec.org/n?u=RePEc:hhs:luekhi:0169&r=sea
  22. By: Jean-Pierre Cling (CEPN - Centre d'Economie de l'Université Paris Nord - UP13 - Université Paris 13 - USPC - Université Sorbonne Paris Cité - CNRS - Centre National de la Recherche Scientifique); Mireille Razafindrakoto (LEDa - Université Paris Dauphine (Paris 9)); François Roubaud (LEDa - Université Paris Dauphine (Paris 9))
    Abstract: This article sets out to investigate the reasons why some household businesses decide to register and become formal (while others do not) in order to shed light on the origins of informality. We use qualitative as well as quantitative data on household businesses (HB) derived from first-hand representative surveys implemented in Hanoi and Ho Chi Minh city. The study reveals that although most of the informal businesses operate ‘illegally’, this is more due to unclear registration legislation than the mark of a deliberate intention to evade the economic regulations.Among the different factors which influence the registration decisions, the reason for setting up the business appears to be a determining one: the more it is a real choice (businesses set up to be independent or to follow a family tradition) and the less a constraint (set up for lack of an job alternative), the more the HB is more inclined to be registered. Furthermore, the analysis highlights that incentives do prove decisive insofar as the probability of having a formal business is greater among HB heads who consider that registration provides at least partial protection from corruption. Besides, access to information, the market and large business orders also drive the informal entrepreneurs to register. These results stress the need for clarification of the legal framework as well as incentive policies in order to address the issue of informality.
    Abstract: Cet article se propose d'analyser les raisons pour lesquelles certaines unités de production (household businesses, HB) décident de s'enregistrer et de devenir formelles (et pourquoi d'autres ne le font pas) afin d'éclairer les origines de l'informalité. Nous mobilisons des données aussi bien quantitatives que qualitatives sur les HB, issues d'enquêtes représentatives et de première main conduite par nos soins à Hanoï et Ho Chi Minh ville. L'étude révèle que bien que la plupart des unités informelles opère "illégalement", ce trait procède plus d'une législation floue et méconnue que d'une volonté délibérée d'échapper aux régulations publiques. Parmi les différents facteurs qui jouent sur la décision de s'enregistrer, le motif qui a conduit à s'établir à son compte est déterminant : plus il s'agit d'un véritable choix (volonté d'échapper au salariat ou par tradition familiale) et moins il résulte d'une contrainte (manque d'alternative d'emploi), et plus le chef d'unité sera enclin à s'enregistrer. De plus, l'analyse met en évidence le rôle des incitations dans la probabilité de devenir formel. Ainsi, ceux qui considèrent que l'enregistrement protège (au moins partiellement) de la corruption sont plus nombreux à régulariser leur situation. Enfin, l'accès à l'information, aux marchés et aux commandes des grandes entreprises favorisent l'enregistrement. Ces résultats soulignent le besoin de clarification de la législation des entreprises ainsi que l'importance de politiques incitatives pour s'attaquer à la question de l'informalité.
    Keywords: Informal Sector,Vietnam,Registration,Corruption,Incentives
    Date: 2017–12–14
    URL: http://d.repec.org/n?u=RePEc:hal:cepnwp:hal-01664202&r=sea
  23. By: Yuri F. Saporito
    Abstract: In this paper, we extend the first-order asymptotics analysis of Fouque et al. to general path-dependent financial derivatives using Dupire's functional Ito calculus. The main conclusion is that the market group parameters calibrated to vanilla options can be used to price to the same order exotic, path-dependent derivatives as well. Under general conditions, the first-order condition is represented by a conditional expectation that could be numerically evaluated. Moreover, if the path-dependence is not too severe, we are able to find path-dependent closed-form solutions equivalent to the fist-order approximation of path-independent options derived in Fouque et al. Additionally, we exemplify the results with Asian options and options on quadratic variation.
    Date: 2017–12
    URL: http://d.repec.org/n?u=RePEc:arx:papers:1712.07320&r=sea
  24. By: Kerstin Gerling
    Abstract: Weather-related natural disasters and climate change pose interrelated macro-fiscal challenges. Using panel-VARX studies for a sample of 19 countries in Developing Asia during 1970 to 2015, this paper contributes new empirical evidence on the dynamic adjustment path of growth and key fiscal variables after severe weather-related disasters. It does not only show that output loss can be permanent, but even twice as large for cases of severe casualties or material damages than people affected. Meanwhile, key fiscal aggregates remain surprisingly stable. Event and case studies suggest that this can reflect both a deliberate policy choice or binding constraints. The latter can make governments respond through mitigating fiscal policy efforts such as ad hoc fiscal rebalancing and reprioritization. The findings help better customize disaster preparedness and mitigation efforts to countries’ risk exposure along a particular loss dimension.
    Date: 2017–11–08
    URL: http://d.repec.org/n?u=RePEc:imf:imfwpa:17/235&r=sea
  25. By: Md. Rajin Makhdum Khan (Bangladesh University of Professionals); Faizah Imam (Bangladesh University of Professionals)
    Abstract: This dissertation focuses on identifying the nature of the future world in respect to the advent of extended number of refugees. Refugee migration and crisis in outside the original countries owing to a deluge of refugees is an important phenomenon happening throughout the world currently. With the case study analysis of current refugee migration events in Asia, Middle East, Africa and the Americas, the paper tries to find out the future nature of the smallest unit of analysis for a long time – nation state. All features of economic, religious, ethnic and cultural aspects taking into account, the core argument centers around whether the influx of refugees into outer or neighbor countries is increasing the possibility of ethnic conflict throughout the world making the future world a world full of feuds and conflicts. The dissertation also tries to find out the true aspects of Samuel Huntington’s Clash of Civilizations theory and if the theory is going to be signified in a future world full of feuds and conflicts. With historical and contemporary analysis of the various cases of refugee influx, the paper also tries to measure the economic consequences of refugee migration and influx. Do globalization and liberal economies tend to survive or does the refugee influx prevent cooperation among ethnicities and states? The dissertation also attempts to find out whether refugee crisis would instigate ethnic nationalism and if the neoliberal world order would fall apart owing to the problems originated by huge refugee influx and migration.
    Keywords: Refugees, Influx, Ethnicity, Migration, Conflict, Nations, Clash
    Date: 2017
    URL: http://d.repec.org/n?u=RePEc:smo:opaper:17&r=sea
  26. By: Claire Bernard (LEDa - Université Paris Dauphine (Paris 9)); Sandrine Mesplé-Somps (LEDa - Université Paris Dauphine (Paris 9)); Gilles Spielvogel (LEDa - Université Paris Dauphine (Paris 9))
    Abstract: A partir de données exhaustives des recensements maliens de la population de 1976, 1987 et 1998, cette étude analyse le processus d’urbanisation et de spécialisation économique des 10 000 localités maliennes. Grâce à untravail d’appariement minutieux, rarement entrepris même dans les pays développés, nous constituons un panelde l’ensemble des localités et nous définissons les agglomérations urbaines en fonction de leurs tailles, densitéset contiguïtés. Nous montrons que le Mali est un pays où la concentration des populations s’est opéréeprioritairement à Bamako et dans des petits bourgs ruraux et que son tissu urbain est très peu dense. Laprimatialité du système urbain est alors très élevée. L’analyse de la dynamique de l’emploi révèle que leprocessus d’urbanisation du Mali s’accompagne plutôt d’un processus de dispersion spatiale des emplois.Cependant, on observe que la croissance des emplois des branches secondaire et tertiaire au sein des villes et desbourgs ruraux de plus de 1 000 habitants dépend positivement de la taille des marchés. Les villes maliennes etleurs concentrations d’habitants permettent donc un dynamisme plus important de l’emploi dans les branchesnon agricoles. On observe que les zones d’expansion de la culture du coton sont les zones où la croissancedémographique des localités est plus forte, sans pour autant que cela occasionne un dynamisme plus importantde l’emploi non agricole.
    Keywords: marché du travail,politiques publiques,crise financière internationale,Vietnam,Secteur informel
    Date: 2017–10–19
    URL: http://d.repec.org/n?u=RePEc:hal:wpaper:hal-01619594&r=sea
  27. By: Abdurezak Abdulahi Hashi (International Islamic University Malaysia)
    Abstract: Religion has been part and parcel of human history and heritage. It has served as a useful companion to man in the journey of intellectual growth, which has in most of the cases, helped humanity to answer, in various forms, the basic questions of life. Though religion has been a useful companion to man, yet religious thought has never been without challenges. There have been instances in which religion is challenged by strong tendencies of secularism and the process desacralisation of politics, ethics and values, in which traditional territories of religion in life are rolled back. On the contrary, religious extremism has been another challenge of religious life, in which violent act were committed in the name of religion. Modern proponents of extreme secularism have equated religion to infantile and childish expressions of man which functions as obstacle to the scientific mind of man, therefore they say in the age of science; religion should disappear once for all. However, contemporary religious extremists exhibit the behavior of imposing their religious thoughts violently; they do so by demonize other religious faiths as well as ideologies and philosophies other than their own, and thus feel justified to use violent behavior against those who hold different beliefs and ideas. The question is, other than denying “the value of religion in life†or “demonizing other faiths†, can there be other intellectual positions towards religion? This paper uses analytical method to address common trends of intellectual extremism for or against religious education; be it in the form of secular or religious thought. It re-examines the status of religious education in modern times, and the challenges posed by intellectual extremisms against the function and the role of religious education in life.
    Keywords: intellectual extremism, religion, challenges, exposition
    Date: 2017
    URL: http://d.repec.org/n?u=RePEc:smo:opaper:21&r=sea

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