nep-sea New Economics Papers
on South East Asia
Issue of 2018‒08‒20
thirty-two papers chosen by
Kavita Iyengar
Asian Development Bank

  1. Who remits and why? Evidence on internal migrant remittances from Vietnam and Thailand By Sharma, Rasadhika; Grote, Ulrike
  2. India’s Act East Policy: Walking the Talk By Chakraborty, Debashis; Chakraborty, Anushree
  3. "Education Performance and the Determinants of Secondary School Enrolment in Indonesia" By Lilik Sugiharti
  4. The Model of Public Relations Practices in Indonesia By Rachmat Kriyantono
  5. Detecting exchange rate contagion using copula functions By Juan Sebastian Cubillos-Rocha; Jose Eduardo Gomez-Gonzalez; Luis Fernando Melo-Velandia
  6. The Influence of Spirituality Workplace to Motivation, Job Satisfaction and Organizational Commitment By Rolland Epafras Fanggidae
  7. Biomass gasification in Southeast Asia: Factors influencing technology adoption in Cambodia By Hong Nam Nguyen; Hoai-Son Nguyen; Minh Ha-Duong; Laurent Van de Steene
  8. "Cross-cultural Adaptation Index of Chinese Expatriates in Malaysia: Extended Location-Specific Advantages" By Kui Ming Tiong
  9. The Role of Exchange Rate in Supporting Trade Balance in Vietnam By Lan Huong Hoang
  10. The Size of Flypaper Effect in Decentralizing Indonesia By Chalil, Tengku Munawar
  11. "Policy Development for the Energy Mix in Indonesia Using System Dynamics" By Kartono Sani
  12. The Determinants of Poverty: Case of Indonesia By Lilik Sugiharti
  13. "The Role of Customary Knowledge in Contemporary Forestry: Experiences from the Kajang Customary Community in Indonesia" By Caritas Woro Murdiati
  14. The art hub in the World Heritage Site, Georgetown: a case study of creative sector entrepreneurship in the context of gentrification By Chen, Shih-Yu; Piterou, Athena; Khoo, Suet Leng; Chan, Jin H.
  15. Technical Efficiency and Its Determinants of the State-owned Enterprises in the Indonesian Manufacturing Industry By Maman Setiawan; Erni Tisnawati Sule
  16. A Brief History of Human Time. Exploring a database of " notable people " By Olivier Gergaud; Morgane Laouenan; Etienne Wasmer
  17. Modelling Heterogeneity in the Resilience to Major Socioeconomic Life Events By Fabrice Etilé; Paul Frijters; David W. Johson; Michael A. Shields
  18. The Reality and Diversity of Buddhist Economics (With Case Studies of Thailand, Bhutan and Yogyakarta) By Wolfgang Drechsler
  19. Education-job mismatches and their impacts on job satisfaction: An analysis among university graduates in Cambodia By Vichet Sam
  20. Minnesota Applied Economist 732, Spring 2018 By Glewwe, Paul
  21. Community Safety in a Rural Housing Area By Nurwati Ashikkin Ahmad-Zaluki
  22. Benchmarking Portfolio Flows By John D. Burger; Francis E. Warnock; Veronica Cacdac Warnock
  23. Climate Shocks and Economic Growth: Bridging the Micro-Macro Gap By Laura Bakkensen; Lint Barrage
  24. Nicholas Georgescu-Roegen, development economist By Carlos Eduardo Suprinyak
  25. Gauging procyclicality and financial vulnerability in Asia through the BIS banking and financial statistics By Stefan Avdjiev; Bat-el Berger; Hyun Song Shin
  26. Towards a Legal Theory of the Firm: The Effects of Enterprise Liability on Asset Partitioning, Decentralization and Corporate Group Growth By Sharon Belenzon; Honggi Lee; Andrea Patacconi
  27. Making Policies Matter: Voter Responses to Campaign Promises By Cesi Cruz; Philip Keefer; Julien Labonne; Francesco Trebbi
  28. Income Inequality, Productivity, and International Trade By Hsu, Wen-Tai; Lu, Lin; Picard, Pierre
  29. The Effects of Organizational Change on Students' Emotions By Saodah Wok
  30. The impact of local shocks on well-being: Only a matter of perception? By Stein, Wiebke; Weisser, Reinhard A.
  31. Regional Prevalence of Health Worker Absenteeism in Tanzania By FUJII, Tomoki
  32. Inequality in China – Trends, Drivers and Policy Remedies By Sonali Jain-Chandra; Niny Khor; Rui Mano; Johanna Schauer; Philippe Wingender; Juzhong Zhuang

  1. By: Sharma, Rasadhika; Grote, Ulrike
    Abstract: The paper analyses determinants and motivations of internal migrant remittances based on a unique data set that combines a household survey from three provinces in Vietnam and Thailand with a migrant tracing survey that was conducted in Ho Chi Minh City and the Greater Bangkok area. Using the Heckman model, we find that human capital, stronger family ties and better living conditions positively influence the migrant’s decision to remit. In terms of the amount remitted, migrants engaged in the service sector remit lower shares of their income and remittances decrease as the household wealth increases. Furthermore, we explore the behavioral side of remittances by constructing proxy groups that represent each strand of migrant’s motivation for remitting. We examine the relationship of these proxy groups and remittances to conclude that exchange or loan repayment motive underpinned by altruism is the strongest motivation in our case.
    Keywords: Remittances, Altruism, Self-interest, Heckman model, Thailand, Vietnam
    JEL: F24 J61 O53 D90
    Date: 2018–08
  2. By: Chakraborty, Debashis; Chakraborty, Anushree
    Abstract: After independence, for four decades, India relied on the development supports from the ‘West’, both from the West European countries and the United States as well as from the Soviet Union. While interaction with the Southeast and East Asian economies continued in international forums like the Non-Aligned Movement (NAM), a long-term strategic partnership was missing for various reasons. After initiating the economic liberalization policies in 1991, the country adopted a ‘Look East Policy’ (LEP) with a two-track approach in mind. While on one hand, Japan, Singapore and South Korea were considered as source of technology and investment, high growth rate in several economies of East and Southeast Asia was instrumental in considering them as high potential export markets. India subsequently strengthened the ties with the ‘East’ by becoming Sectoral Dialogue Partner of ASEAN in 1992, covering trade, tourism, investment and science and technology. India’s ‘Act East Policy’ (AEP) came into effect when the current Prime Minister Mr. Narendra Modi at his maiden visit to ASEAN-India Summit in 2014 emphasized on practicing more action-oriented policy towards ASEAN and the wider East Asia. The policy is not a strict foreign policy shift. Under close examination, AEP emerged to be continuation and further deepening of the LEP launched. While trade and investment remain central to India’s outreach to Southeast Asia, under the present NDA government, the country has emerged as the net security provider of the region. In 2015, the Prime Minister visited five East Asian countries at various occasions. There have been other high level diplomatic visits to the East, followed by the appropriate diplomatic channels. Therefore, AEP has brought a great sense of speed and priority in engaging with the East Asian countries in general and Southeast Asia in particular. The current paper examines the opportunities that this new narrative offers for India-East Asia relations in days to come, especially in the current geo-political set-up. At the end, it attempts to seek answers to India’s drive towards greater linkages with this Asian sub-region, both in economic and strategic platforms.
    Keywords: India, Act East Policy, Regional Trade Agreements, Trade in Value Added
    JEL: F13 F15
    Date: 2018–06–08
  3. By: Lilik Sugiharti (Faculty of Economics and Business, Airlangga University, Indonesia. Author-2-Name: Author-2-Workplace-Name: Author-3-Name: Author-3-Workplace-Name: Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:)
    Abstract: "Objective – The development in education sector as one form of human capital development has been implemented in Indonesia. Some government programs have been attempted as an alternative solution to improve the quality of education. Methodology/Technique – The paper calculates and analyses an education inequality in Indonesia from 2005 to 2012, and the logit model conducted to estimate the probability of school attendance particularly in secondary school, both in junior and high school. Findings – The result was very significant which is in term of enrolment rate, the primary education was more equal. However, the data found that the enrolment rate of secondary school was lower than the primary school which was 89.29% of junior school, and 68.45% of high school in 2012. In general there has been education performance improvements in Indonesia during 2005 to 2012.There was a magnitude decrease of education Gini index from 0.353 in 2005 to 0.318 in 2012. In term of location, using the education Lorenz curve it was found that the education inequality was higher in rural than in urban area. There was a strong negative correlation between Mean Years of Schooling and the education Gini index, increasing the mean years of schooling, the education performance will be more equal. Moreover, gender of a child, household characteristics, i.e. father's education, mother's education, poverty status, and geographic location of households, in rural and urban area had a strong and significant effects on secondary school enrolment in Indonesia. Novelty – The study uses Gini index, Lorenz Curve and Logit model to determine educational performance."
    Keywords: School Enrolment; Gini Index; Lorenz Curve; Education Inequality; Logit Model; Indonesia.
    JEL: I20 I21 I23
    Date: 2017–07–05
  4. By: Rachmat Kriyantono (School of Communication, Brawijaya University, Indonesia. Author-2-Name: Abdul Allam Amrullah Author-2-Workplace-Name: School of Communication, Brawijaya University, Indonesia. Author-3-Name: Nia Asthon Destrity Author-3-Workplace-Name: School of Communication, Brawijaya University, Indonesia. Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:)
    Abstract: "Objective – This research aims to compare the government public relations with business public relations in Indonesia. The research proves the hypothesis that either government or business public relations in Indonesia have already applied symmetric model on their communication activities. Methodology/Technique – A national survey involves 160 practitioners of government and business public relations. The research reinforces Grunig and Hunt's model of public relations that business public relations tends practice twoway symmetrical communication. On the other hands, the research also differs with Grunig and Hunt's model that government public relations tend to apply public information model. Findings – It is concluded that both government and business public relations in Indonesia have implemented two-way communication models. The findings have confirmed that public relations practices have grown along with the development of democracy in Indonesia. Novelty – The research contributes to develop scientific knowledge in public relations study and practices."
    Keywords: "Business Public Relations; Democracy; Government Public Relations; Indonesia; Public Relations Model; Symmetric Model; Transparency of Public Information."
    JEL: H11 H83
    Date: 2017–07–10
  5. By: Juan Sebastian Cubillos-Rocha (Banco de la República de Colombia); Jose Eduardo Gomez-Gonzalez (Banco de la República de Colombia); Luis Fernando Melo-Velandia (Banco de la República de Colombia)
    Abstract: We study exchange rate dependencies between seven countries from four different regions of the world. Our sample includes two developed countries, the United Kingdom and Germany (representing the Euro Area), two large emerging Asian economies, South Korea and Indonesia, two Latin American countries, Brazil and Chile, and South Africa. The currencies of all of these countries are actively traded in global forex markets and all of them are important for large international portfolio composition and rebalancing. We construct multivariate copula functions using a regular vine copula approach, allowing for very flexible dependency structures. We find evidence of exchange rate contagion for our set of countries. However, important asymmetries are worth noting. First, contagion occurs only during periods of exchange rate appreciation of the different currencies with respect to the United States Dollar. We do not find evidence of contagion for any pair of exchange rates during periods of currency depreciations. Second, contagion is more frequent in pairs of countries that include either the United Kingdom or Germany. In fact, the largest tail dependence coefficient corresponds to the pair composed by these two countries’ exchange rates. Third, contagion occurs more within countries of a same region, for instance, between Brazil and Chile, and between Korea and Indonesia. This result shows that, in episodes of large currency appreciation, hedging strategies for global investors taking positions in large markets require regional diversification. **** RESUMEN: En el presente trabajo estudiamos las dependencias en tasas de cambio entre siete países de cuatro diferentes regiones del mundo. Nuestra muestra incluye dos países desarrollados, el Reino Unido y Alemania (representando la zona Euro), dos economías emergentes asiáticas, Corea del Sur e Indonesia, dos países latinoamericanos, Brasil y Chile, y Sudáfrica. Las divisas de estos países se cotizan activamente en el mercado global, todas ellas son importantes para la composición y rebalanceo del portafolio internacional. Construimos funciones de copula multivariadas usando una metodología Regular Vine, que permite modelar estructuras de dependencia muy flexibles. Encontramos evidencia de contagio en tasas de cambio para nuestra muestra. Sin embargo, hay asimetrías importantes que se deben tener en cuenta. En primer lugar, el contagio ocurre sólo durante periodos de apreciación de las distintas divisas frente al dólar estadounidense. No encontramos evidencia de contagio durante periodos de depreciación cambiaria. En segundo lugar, el contagio es más frecuente en países que incluyen el Reino Unido y Alemania. El coeficiente de cola más alto corresponde a esta pareja de países. En tercer lugar, el contagio es más frecuente dentro de países de la misma región, por ejemplo, entre Brasil y Chile, y entre Corea e Indonesia. Este resultado muestra que, en episodios de grandes apreciaciones, las estrategias de cobertura para inversionistas globales con posiciones en grandes mercados requieren diversificación regional. Classification JEL: C32; C51; E42
    Keywords: Copula functions; Exchange rate contagion; Emerging and developed economies, Funciones copula; Contagio en tasas de cambio; Economías desarrolladas y emergentes
    Date: 2018–08
  6. By: Rolland Epafras Fanggidae (Nusa Cendana University, Indonesia. Author-2-Name: Author-2-Workplace-Name: Author-3-Name: Author-3-Workplace-Name: Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:)
    Abstract: "Objective – Competition between organizations, demanded that any organization can provide quality service and quality for stakeholders. One important aspect which will also determine the achievement of college performance, namely the lecturers. The relationship between the individual commitment to the organization shows the relationship between motivation and job satisfaction can improve the quality of university. While a basic understanding of the meaning of work is closely related to spiritual values that are owned by the individual in his work. This awareness can also be pursued by university through the fulfilment of the needs of both psychological and spiritual faculty, thus creating a conducive work environment. This research is descriptive, so that verification and explanatory research method used was a survey of 320 professors in the region of East Nusa Tenggara, Indonesia. Methodology/Technique – Tests in this study using structural equation modeling (SEM) based variants or components, namely the Analysis of Moment Structure (AMOS). Findings – The test results showed that (1) Spirituality in the workplace has an influence on the motivation. (2) Spirituality in the workplace does not have an influence on job satisfaction. (3) Spirituality in the workplace has an influence on organizational commitment. Based on the research results obtained by this research Novelty – Novelty where spirituality in the workplace and motivation generate positive motivation for the members of the organization. This shows that the spiritual values inherent in individuals produce more meaning to work, where the work is not for material gain alone."
    Keywords: Workplace in the spirituality; Spirituality Workplace; Motivation; Job Satisfaction; Organizational commitment.
    JEL: J24 J28
    Date: 2017–07–14
  7. By: Hong Nam Nguyen (CleanED - Clean Energy and Sustainable Development Lab - USTH - University of sciences and technologies of hanoi); Hoai-Son Nguyen (NEU - National Economics University (Ha Noi, Vietnam), CleanED - Clean Energy and Sustainable Development Lab - USTH - University of sciences and technologies of hanoi); Minh Ha-Duong (CIRED - Centre International de Recherche sur l'Environnement et le Développement - CNRS - Centre National de la Recherche Scientifique - ENPC - École des Ponts ParisTech - AgroParisTech - EHESS - École des hautes études en sciences sociales - CIRAD - Centre de Coopération Internationale en Recherche Agronomique pour le Développement, CleanED - Clean Energy and Sustainable Development Lab - USTH - University of sciences and technologies of hanoi); Laurent Van de Steene (USTH - University of sciences and technologies of hanoi, CIRAD - Centre de Coopération Internationale en Recherche Agronomique pour le Développement)
    Abstract: Electricity price in Cambodia is among the highest in the region due to limited fossil resources. The national grid provides electricity with cheapest tariff, from $0.11 to $0.27 per kWh, but only 25% of Cambodians are having access to it. Since 2003, scores of rice mills have installed rice husk gasification systems (RHGs) to produce electricity with a cost from $0.06 to $0.27 per kWh. RHG development is showing signs of slowing down while national grid is continuing to expand its supply area. The study was carried out to identify some factors influencing RHG adoption in Cambodian rice mills, based on data of rice mills (n=396) and report on power sector of the Kingdom of Cambodia in 2015. Field trips to rice mills (n=8) and interviews with RHG stakeholders (n = 66) were also conducted. Results indicated that technical support for RHG and annual production of rice mills had positively influenced adoption of RHG. In contrarily, results showed an insignificant correlation between the presence of national grid and RHG adoption. This study will help planners, policy makers, researchers and farmers prioritize factors affecting RHG adoption decisions and hence provide insight on pathways to increase RHG adoption.
    Keywords: rice husk, national grid, gasification, Cambodia,biomass
    Date: 2016–12–24
  8. By: Kui Ming Tiong (Faculty of Accountancy and Management, Universiti Tunku Abdul Rahman, Malaysia. Author-2-Name: Ming Yu Cheng Author-2-Workplace-Name: Universiti Tunku Abdul Rahman, Malaysia. Author-3-Name: Author-3-Workplace-Name: Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:)
    Abstract: "Objective – In the fast changing globalizing and liberalizing world, the concern is not only on the location-specific advantages of a host country but also on how multinational enterprises manage to survive ex-post entry in a different environment. The cultural distance between the home and host countries thus plays an important role in this context. Empirical studies have shown that cultural distance and cross-cultural adaptation are interrelated, and there is a moderating role played by cultural distance on the cross-cultural adaptation. The cross-cultural adaptation is thus an important dimension to be considered in order to extend the L-advantages. Many studies have been conducted to build a cultural distance scale. Yet only a few studies have been conducted to construct a cross-cultural adaptation scale. This study thus aims to build a cross-cultural adaptation index. Methodology/Technique – The index is built based on the data collected from Chinese expatriates through in-depth interviews and questionnaire surveys. Findings – Two simple cross-cultural adaptation scales were built. These are the Simple Sociocultural Adaptation Scale (SSAS) and Psychological Adaptation Scale (SPAS) with seven pillars. An average index score was computed for each pillar. Living (78.79), interaction (69.19), regulative (64.02), work (85.61), psychological well-being (68.33), satisfaction (63.64), and intention to stay (62.12). The sociocultural adaptation index scored 76.57, while the psychological adaptation index scored 65.91. Novelty – This study provides insights for better understanding of Malaysian cultural environment to investors, expatriates, and policymakers as well as to extend and enrich the OLI paradigm."
    Keywords: "Extended location-specific advantages; Cross-cultural adaptation index; Sociocultural adaptation; Psychological adaption; OLI paradigm."
    JEL: F21 G14 Z13
    Date: 2017–07–03
  9. By: Lan Huong Hoang (State Bank of Vietnam)
    Abstract: In this paper, I apply a multivariate Structural Vector Autoregressive (SVAR) and Vector Error correction model (VECM) to analyse short-term and long-term effects of foreign exchange rate on trade balance of Vietnam, using monthly data from 2004-2015. Real effective exchange rate is used to reflect overall performance of Vietnam’s currency. The results suggest that in short-term, exchange rate has very limited impacts on trade flows; while in longer horizon, it does not affect imports in either nominal or real terms but has strong effect on nominal exports. To the extent of this research, there is a number of policy implications has been made to support policy makers in Vietnam.
    Date: 2016–10
  10. By: Chalil, Tengku Munawar
    Abstract: This study explores the flypaper effect in Indonesia using a spatial approach. Covering data from 2000-2014, the paper shows that grants stimulate overspending by local governments even though spatial interdependence is carefully treated. The elasticity of lump-sum grants to expenditure is stronger than the elasticity of matching grants. Further, the elasticity of lump-sum grant is greater on routine expenditure, which shows the over-dependency of local governments to lump-sum grant. The over-dependency phenomenon has not changed a lot even after a major change of lump-sum grant formulation being applied by the 2004 decentralization law package.
    Keywords: flypaper effect; intergovernmental transfer; local government expenditure
    JEL: D72 D78 H72 I31
    Date: 2018–07–19
  11. By: Kartono Sani (School of Business and Management, Institut Teknologi Bandung, Indonesia. Author-2-Name: Manahan Siallagan Author-2-Workplace-Name: School of Business and Management, Institut Teknologi Bandung, Indonesia. Author-3-Name: Utomo Sarjono Putro Author-3-Workplace-Name: School of Business and Management, Institut Teknologi Bandung, Indonesia. Author-4-Name: Kuntoro Mangkusubroto Author-4-Workplace-Name: School of Business and Management, Institut Teknologi Bandung, Indonesia. Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:)
    Abstract: "Objective – This paper discusses a literature review regarding finding system dynamics modeling as the preferred approach to building the national energy system model in Indonesia and introduces the uniqueness of the initial system dynamics model of the Indonesia energy mix today. Methodology/Technique – A literature review about system modeling of energy portfolio management worldwide to find the research gaps and to screen for the preferred modeling approach for the country. Along with past statistics in the background, a combination of system dynamics modeling and focus group discussion is subsequently expected to answer the research questions, bridge the research gaps, and contribute a new invention to management science. Findings – The theoretical testing reveals that system dynamics modeling is suitable to simplify and simulate very large, complex dynamic systems of energy supply that get feedback from many subsystems in non-linear fashions and is a good methodology for holistic approaches to understand underlying behavior over time, taking into account all sorts of feedback, including time delays and feedback loops, and those cannot be easily represented by conventional models, vastly applied in a study of sustainable development. Novelty – The uniqueness of the proposed system dynamics approach lies in the inclusion of a series of new variables developed from common characteristic impediments in public policy development using a traditional non-simulation approach, besides its focus on the unprecedented energy supply quality side of the archipelagic country with its unique parameters being highlighted."
    Keywords: "Portfolio Management; Past Performance; System Dynamic Modelling; Initial Model of Energy Close Loop Diagram of Indonesia Today."
    JEL: Q40 Q48
    Date: 2017–07–14
  12. By: Lilik Sugiharti (Faculty of Economics and Business, Airlangga University, Indonesia Author-2-Name: Martha Ranggi Primanthi Author-2-Workplace-Name: Faculty of Economics and Business, Airlangga University, Indonesia. Author-3-Name: Author-3-Workplace-Name: Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:)
    Abstract: "Objective – The objectives of the study were to analyze the general picture of poverty, and determinants of poverty in Indonesia. Understanding poverty characteristic is a main point for designing an effective poverty reduction strategy. During the last five years Indonesia has experienced a slowing down growth and the poverty rates has declined slightly. Some provinces or regions have managed to reduce the poverty well, while others have been slower, and also the distribution of the poor is uneven across both rural and urban, generally the rural is more than urban area. Methodology/Technique – Factors determining poverty of households were estimated and anayzed using a logit regression model, and it is found that such demographic factors as gender and age of households head, size of households, factors of production included accessibility to the technology and credit, working status, and education attainment, and also geographic characteristics significantly explain reasons for being poor. Moreover, increasing for accessibility of households to the technology and credit, reducing the size of households, and increasing an education attainment especially in rural area are important to do as a government priority intervention. Findings – The results of the determinants of poverty in Indonesia shows that poor households are those with large number of dependents and equipped with limited education access, and the majority of these households live in rural area. Novelty – Study suggests that increasing for accessibility of households to the technology and credit, reducing the size of households, and increasing an education attainment especially in rural area are important to do as a government priority intervention or policy implications."
    Keywords: Logit Regression; Poverty Reduction, Indonesia.
    JEL: I21 I22 I24
    Date: 2017–07–05
  13. By: Caritas Woro Murdiati (Faculty of Law, Universitas Atma Jaya, Indonesia. Author-2-Name: Author-2-Workplace-Name: Author-3-Name: Author-3-Workplace-Name: Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:)
    Abstract: "Objective – This article analyses the co-existence of customary forest knowledge and management with contemporary forest policies, management, and the prevailing legal/regulatory framework. In addition, this article explores the extent to which customary forest knowledge and management have endured over time. Methodology/Technique – This research uses a conceptual approach based on perspective and doctrines from laws studies. Findings – Kajang's customary community has and implements moral principles as customary knowledge in forest resource management, such as respect towards nature, cosmic solidarity and the concern of nature; a simple way of living and life in harmony with nature. The several principles are supposed to be valuable basic for finding out the new ethical attitudes oriented to forest sustainability. The principles and the customary knowledge can be the strong basic for forest law development in Indonesia because it grows within the community. Novelty – The research embodied in this article examines how customary forest knowledge can inform the development of contemporary forest policies, management, and laws/regulations."
    Keywords: Customary Communities; Customary Knowledge and Contemporary Forestry.
    JEL: I21 Q23
    Date: 2017–08–07
  14. By: Chen, Shih-Yu; Piterou, Athena; Khoo, Suet Leng; Chan, Jin H.
    Abstract: This research examines the role of an art organisation, which operates largely as a social enterprise, in responding to the issues of gentrification and the resulting displacement of communities embodying the local culture in Georgetown, Malaysia. The case study art hub has developed into an internationally acclaimed space for innovative ventures including an art gallery and units for arts, craft and food entrepreneurs. The research method includes first stage questionnaire and in-depth interviews to understand the managing strategies and innovation practices. With their innovative business strategies, the art organisation forms an extended network with the local art community and is positioned as the focal point in a mini entrepreneurial ecosystem. Through the case study in Georgetown, Malaysia, the research contributes to the understanding of the strength and challenges of innovative social entrepreneurship for cultural and creative organisations.
    Keywords: creative enterprise; innovative entrepreneurship; sustainable entrepreneurship; relational aspects of ingenuity; boundary work and networking
    Date: 2018–07–01
  15. By: Maman Setiawan (Faculty of Economics and Business, University of Padjadjaran); Erni Tisnawati Sule (Faculty of Economics and Business, University of Padjadjaran)
    Abstract: This research investigates technical efficiency and its determinants of the state-owned enterprises (SOEs) in the Indonesian manufacturing industry. This study applies bootstrapped data envelopment analysis to calculate the technical efficiency score at the first stage and panel data technique to estimate the effects of the determinants on the technical efficiency at the second stage. This research uses firm-level survey data classified at the five-digit International Standard Industrial Classification (ISIC) level to estimate the technical efficiency score. This research finds that the SOEs in the Indonesian manufacturing are technically inefficient. The technical efficiency is affected by the firm size, location, level of technology, export engagement and economic and financial crisis.
    Keywords: Indonesian state-owned enterprises, manufacturing industry, technical efficiency, bootstrapped data envelopment analysis.
    JEL: L0
    Date: 2018–08
  16. By: Olivier Gergaud (KEDGE Business School [Talence] - M.E.N.E.S.R. - Ministère de l'Éducation nationale, de l’Enseignement supérieur et de la Recherche); Morgane Laouenan (CES - Centre d'économie de la Sorbonne - UP1 - Université Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique); Etienne Wasmer (ECON - Département d'économie - Sciences Po)
    Abstract: This paper describes a database of 1,243,776 notable people and 7,184,575 locations (Geolinks) associated with them throughout human history (3000BCE-2015AD). We first describe in details the various approaches and procedures adopted to extract the relevant information from their Wikipedia biographies and then analyze the database. Ten main facts emerge. 1. There has been an exponential growth over time of the database, with more than 60% of notable people still living in 2015, with the exception of a relative decline of the cohort born in the XVIIth century and a local minimum between 1645 and 1655. 2. The average lifespan has increased by 20 years, from 60 to 80 years, between the cohort born in 1400AD and the one born in 1900AD. 3. The share of women in the database follows a U-shape pattern, with a minimum in the XVIIth century and a maximum at 25% for the most recent cohorts. 4. The fraction of notable people in governance occupations has decreased while the fraction in occupations such as arts, literature/media and sports has increased over the centuries; sports caught up to arts and literature for cohorts born in 1870 but remained at the same level until the 1950s cohorts; and eventually sports came to dominate the database after 1950. 5. The top 10 visible people born before 1890 are all non-American and have 10 different nationalities. Six out of the top 10 born after 1890 are instead U.S. born citizens. Since 1800, the share of people from Europe and the U.S. in the database declines, the number of people from Asia and the Southern Hemisphere grows to reach 20% of the database in 2000. Coïncidentally, in 1637, the exact barycenter of the base was in the small village of Colombey-les-Deux-Eglises (Champagne Region in France), where Charles de Gaulle lived and passed away. Since the 1970s, the barycenter oscillates between Morocco, Algeria and Tunisia. 6. The average distance between places of birth and death follows a U-shape pattern: the median distance was 316km before 500AD, 100km between 500 and 1500AD, and has risen continuously since then. The greatest mobility occurs between the age of 15 and 25. 7. Individuals with the highest levels of visibility tend to be more distant from their birth place, with a median distance of 785km for the top percentile as compared to 389km for the top decile and 176km overall. 8. In all occupations, there has been a rise in international mobility since 1960. The fraction of locations in a country different from the place of birth went from 15% in 1955 to 35% after 2000. 9. There is no positive association between the size of cities and the visibility of people measured at the end of their life. If anything, the correlation is negative. 10. Last and not least, we find a positive correlation between the contemporaneous number of entrepreneurs and the urban growth of the city in which they are located the following decades; more strikingly, the same is also true with the contemporaneous number or share of artists, positively affecting next decades city growth; instead, we find a zero or negative correlation between the contemporaneous share of "militaries, politicians and religious people" and urban growth in the following decades.
    Keywords: Big Data,notable people
    Date: 2017–01–19
  17. By: Fabrice Etilé (PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Panthéon-Sorbonne - ENS Paris - École normale supérieure - Paris - INRA - Institut National de la Recherche Agronomique - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique, INRA - Institut National de la Recherche Agronomique, PSE - Paris School of Economics); Paul Frijters (CEPR - Center for Economic Policy Research - CEPR, LSE - London School of Economics and Political Science); David W. Johson (Monash University [Malaysia]); Michael A. Shields (Monash University [Malaysia])
    Abstract: Using a novel, dynamic finite mixture model applied to 12 years of nationally representative panel data, we explore individual heterogeneity in the total psychological response (our measure of resilience) to ten major adverse life events, including serious illness, redundancy and crime victimisation. Importantly, this model takes into account that individuals are not randomly selected into adverse events, that some events are anticipated in advance of their occurrence, and that the immediate psychological response and the speed of adaptation may differ across individuals. Additionally, we generate a ‘standardised event' in order to document the distribution of general resilience in the population. We find considerable heterogeneity in the response to adverse events, with the total psychological loss of people with low resilience being several times larger than the average loss. We also find that resilience is strongly correlated with clinical measures of mental health, but only weakly correlated with cognitive and non-cognitive traits. Finally, we find that resilience in adulthood to some extent is predictable by childhood socioeconomic circumstances; the strongest predictor we identify is good childhood health.
    Keywords: Psychological Health, Resilience, Life Events, Childhood, Panel,Data, Mixture Model
    Date: 2017–03
  18. By: Wolfgang Drechsler
    Abstract: The Reality and Diversity of Buddhist Economics (With Case Studies of Thailand, Bhutan and Yogyakarta)
    Date: 2016–08
  19. By: Vichet Sam (IREGE - Institut de Recherche en Gestion et en Economie - USMB [Université de Savoie] [Université de Chambéry] - Université Savoie Mont Blanc)
    Abstract: Education-job mismatches, especially overeducation or vertical mismatch, are generally found to lower the worker's job satisfaction, which may generate the counter-productive behaviors such as high rates of absenteeism and turnover in developed countries. The purpose of this article is to examine the impacts of educational mismatches from their both forms and dimensions (match, overeducation, horizontal mismatch and double mismatch) on the job satisfaction among university graduates in Cambodia. To deal with the sample selection bias owing to the unobserved job satisfaction of unemployed graduates, this study applies the Heckman probit model on a survey conducted with nineteen higher education institutions in Cambodia. Results indicate that the both forms of mismatches adversely affect the job satisfaction and the consequence is stronger if graduates suffer both vertical and horizontal mismatches. This suggests that the literature has to focus on all forms and dimensions of mismatches when examining their impacts on the individual outcomes in the labor market. The findings also underline the importance of improvement in the quality of education-job matching in Cambodia because the possible counter-productive behaviors due to inadequate education-employment may affect the firm productivity and thus limit their development.
    Keywords: vertical and horizontal educational mismatches, job satisfaction, sample selection bias, Heckman probit regression, higher education
    Date: 2018–07–15
  20. By: Glewwe, Paul
    Abstract: In this issue: From the Department Head; New Research on Vietnam's Impressive Performance in Education (by Paul Glewwe); Graduate Student Research Spotlight; Undergrad Student Spotlight; Distinguished Leadership Award; Outstanding Alumni Award.
    Keywords: Community/Rural/Urban Development, Teaching/Communication/Extension/Profession
    Date: 2018–03–03
  21. By: Nurwati Ashikkin Ahmad-Zaluki (Othman Yeop Abdullah Graduate School of Business, Universiti Utara Malaysia, Malaysia Author-2-Name: Author-2-Workplace-Name: Author-3-Name: Author-3-Workplace-Name: Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:)
    Abstract: "Objective – This study investigates the nature of community safety in a rural housing area. The types of home safety control mechanisms were also investigated. Methodology/Technique – Face-to-face interviews were conducted on a randomly selected sample of 87 residents in a rural area located in the Northern region of Malaysia. Findings – Results show that the feeling of safety is quite high. Females are found to be more fearful than men. The study also found that more than half of the residents used special window/door grills for home safety control. As expected, the level of feeling very unsafe living at home alone after dark was double when their home was not protected by special windows or door grills. Novelty – The results of this study are important and provide the police with information on how they can get involved to help improve community safety. Future studies should investigate the type of crimes and experiences of crime victimization using the International Crime Victim Survey (ICVS)."
    Keywords: Community Safety; Fear of Crime; Feeling of Safety; Malaysia; Interview
    JEL: H55 H83 O18
    Date: 2017–07–04
  22. By: John D. Burger; Francis E. Warnock; Veronica Cacdac Warnock
    Abstract: To gauge the amount of portfolio inflows a country can expect to receive, we create a benchmark, a longer-term baseline path around which actual flows fluctuate. The relationship between our benchmark and actual flows is quite strong for emerging market economies (EMEs). For our sample of 28 EMEs, there is a significant long-run relationship between actual portfolio flows and our benchmark, flows adjust strongly toward the benchmark, and our benchmark helps predict one-year-ahead changes in inflows. For advanced economies (AEs), results are less impressive, but again the benchmark performs well in directional forecasting exercises. In practical terms, it is informative to distinguish between movements toward the benchmark as opposed to movements away from the benchmark. An example: While portfolio inflows to both Asian EMEs and Latin America plummeted in 2015, our benchmark analysis correctly predicted that inflows should rebound in Asia (because flows had fallen far below the benchmark) but stay near the new, low level in Latin America (where the sharp decline in inflows was back to benchmark levels). We provide similar analysis for 45 countries, both advanced and emerging, for the 2000 to 2017 period.
    JEL: F21 F3 G11
    Date: 2018–06
  23. By: Laura Bakkensen (University of Arizona); Lint Barrage (Brown University)
    Abstract: How do environmental shocks affect macroeconomic outcomes? A growing and influential body of empirical work has sought to quantify the impacts of climate shocks on economic growth. However, this literature currently faces three fundamental gaps: First, empirical studies have found a wide range of seemingly contradictory results, ranging from positive effects of climatic disasters (e.g., Skidmore and Toya, 2002) to large negative effects of tropical storms (e.g., Hsiang and Jina, 2015) and temperature shocks (e.g., Dell, Jones, and Olken, 2011). These results have yet to be reconciled. Second, the empirical literature has remained largely disconnected from macroeconomic growth models (e.g., Ikefuji and Hoori, 2012), making it difficult to compare results across approaches. Third, empirical studies' findings on climate shocks and growth have have generally not been incorporated into climate-economy models. Attempts to do so have shown the potential for significant policy implications, but have again highlighted the challenge of mapping reduced form growth estimates into the structure of climate-economy models (Moore and Diaz, 2015). This disconnect is of concern not only for policy makers (Obama, 2017), but echoes a broader micro-macro gap afflicting the climate change economics literature. This paper thus brings a novel macroeconomic model-based perspective to the data in order to advance the literature in these three dimensions. First, building on incomplete markets approaches (Krebs, 2003), we present a stochastic endogenous growth model where households face both aggregate and idiosyncratic (partly uninsurable) risks from climatic shocks. In particular, disasters may affect both the deprecation and productivity of different types of capital (analogous to business cycle risks in Krebs, 2003). We then revisit the empirical literature through the lens of this model. In particular, we analytically map the impact estimates identified by competing empirical estimation approaches into their structural counterparts in the model. The first main results is that the diverging results of key prior empirical studies can be reconciled as measuring different components of the overall impact of disasters on growth. For example, cross-sectional regressions identify the impact of disaster risk on long-run growth, which can be positive or negative depending on whether precautionary savings effects outweigh rate-of-return effects, in line with empirical studies (e.g., Skidmore and Toya, 2002). In contrast, panel fixed effects regressions of wind speed realizations estimate the effect of disaster strikes, which the model predicts to be negative and persistent, again in line with the empirical evidence (e.g., Hsiang and Jina, 2015). Importantly, the model also demonstrates the limitations of reduced form output-growth estimates for gauging welfare effects of climate change: An increase in climate risk can affect growth and welfare in opposite ways. Second, we propose an alternative approach to estimating disaster impacts that can be directly incorporated into structural climate-economy models and therefore inform estimates of the welfare costs of climate change. This approach specifically focuses on quantifying climate shock impacts on the structural determinants of growth - such as total factor productivity and capital depreciation - rather than on the endogenous equilibrium outcome of output growth itself. Third, we empirically showcase how to implement this approach by producing novel estimates of the impacts of tropical cyclones and climate change on economic outcomes and welfare in Vietnam. Our approach (i) matches the empirical literature's standard of causal identification by using plausibly exogenous variation in extreme weather events to identify their impacts on productivity and income risks, (ii) accounts for adaptation to climate change by explicitly modeling how households respond to changes in the weather risk distribution, and (iii) thus produces welfare estimates in a fully specified decisions-under-uncertainty endogenous growth climate-economy model. On the economic side, the estimation combines standard data on aggregate factors with detailed, nationally representative survey data from the Vietnam Household Living Standards Survey (2004-2014) to quantify the impacts of climate shocks on household income risks. On the climate side, we combine detailed historical cyclone data with synthetic cyclone track projections under future climate change (Emanuel, 2008) to estimate the change in the probability distribution of climate shocks facing households. The benchmark results suggest that changes in cyclone risks by 2100 will depress long-run growth in Vietnam by an economically significant 0.07-0.14 percentage points - on the same order of magnitude as recent estimates of the effect of U.S. business cycles on U.S. growth (Krebs, 2003, Barlevy, 2004). The associated welfare costs are estimated to range from -0.9% to -1.7% of initial consumption.
    Date: 2018
  24. By: Carlos Eduardo Suprinyak (Cedeplar-UFMG)
    Abstract: Accounts of Nicholas Georgescu-Roegen’s career as an economist usually focus either on the brilliance of his pioneer contributions to mathematical economics during the 1930s, or more frequently, on his later conversion to a critical approach to economic theory anchored on the centrality of the entropy law in a dynamic setting. These two disparate moments, however, were connected by Georgescu-Roegen’s strong attraction to the study of the problems afflicting underdeveloped societies. This began with his work on the agricultural economy of his native Romania, produced under the auspices of Harvard’s Russian Research Center in the late 1940s. Thenceforth, he embarked on a journey that spawned his early interest in Leontief-type linear models, an extended tour of Southeast Asia commissioned by Vanderbilt University’s Graduate Program in Economic Development, and several visits to Brazil during the 1960s to assist in the development of academic economics in the country. The paper highlights these lesser-known aspects of Georgescu-Roegen’s intellectual trajectory, while using his case to illustrate some of the paths open for inquiry during the heyday of development economics.
    Keywords: Nicholas Georgescu-Roegen, development economics, Vanderbilt University, economic programming, modernization.
    JEL: B31 B25 O10
    Date: 2018–07
  25. By: Stefan Avdjiev; Bat-el Berger; Hyun Song Shin
    Abstract: We look back at past episodes of financial stress in Asia with a forward-looking perspective. We put ourselves in the shoes of a contemporary observer with the data at hand and ask what evidence was available on the systematic build-up of vulnerabilities. We reconstruct a graphical narrative of banking and financial developments at the time. Our exercise showcases the usefulness of the BIS international banking and financial statistics as a window on the financial system's procyclicality. We conclude with a real-time forward-looking survey of current financial vulnerabilities, focusing on the implications of the shift in the pattern of credit intermediation from banks to bond markets.
    Keywords: Asian Financial Crisis, international bank lending, procyclicality, financial stability
    JEL: F32 F34 G01
    Date: 2018–07
  26. By: Sharon Belenzon; Honggi Lee; Andrea Patacconi
    Abstract: Limited liability is a key attribute of the corporate form and one of the most important institutional innovations of the nineteenth century. However, when the owner of a corporation is another corporation as in many corporate groups, an important justification for limited liability—to protect small, passive investors from unlimited losses—is severely weakened. Accordingly, countries differ considerably in their propensity to protect parent and sister companies from the liabilities incurred by other group affiliates, with some countries (e.g. Germany) viewing a subsidiary as an integral part of the group that controls it while others (e.g. Great Britain) emphasizing the legal rather than the economic substance. In this paper, we construct a novel country-level measure of enterprise liability, the propensity of courts to hold an entire group liable for the obligations of one of its subsidiaries. Using data from sixteen countries in Europe, the Americas, and Asia, we examine how enterprise liability affects firm boundaries, internal organization, and corporate group growth. We find that in countries where enterprise liability is weaker, groups tend to partition their assets more finely into distinct legally independent subsidiaries and grant their subsidiaries more autonomy. Groups also tend to grow faster. This paper highlights one underappreciated channel—risk compartmentalization through incorporation—through which legal systems affect economic outcomes.
    JEL: K0 K12 O43 P1
    Date: 2018–06
  27. By: Cesi Cruz; Philip Keefer; Julien Labonne; Francesco Trebbi
    Abstract: Can campaign promises change voter behavior, even where clientelism and vote buying are pervasive? We elicit multidimensional campaign promises from political candidates in consecutive mayoral elections in the Philippines. Voters who are randomly informed about these promises rationally update their beliefs about candidates, along both policy and valence dimensions. Those who receive information about current promises are more likely to vote for candidates with policy promises closest to their own preferences. Those informed about current and past campaign promises reward incumbents who fulfilled their past promises; they perceive them to be more honest and competent. However, voters with clientelist ties to candidates respond weakly to campaign promises. A structural model allows us to disentangle information effects on beliefs and preferences by comparing actual incumbent vote shares with shares in counterfactual elections: both effects are substantial. Even in a clientelist democracy, counterfactual incumbent vote shares deviate more from actual shares when policy and valence play no role in campaigning than when vote-buying plays no role. Finally, a cost benefit analysis reveals that vote-buying is nevertheless more effective than information campaigns, explaining why candidates do not use them.
    JEL: D72 P16
    Date: 2018–06
  28. By: Hsu, Wen-Tai (School of Economics, Singapore Management University); Lu, Lin (Department of Economics, Tsinghua University); Picard, Pierre (CREA, University of Luxembourg)
    Abstract: This paper discusses the effect of income inequality on selection and aggregate productivity in a general equilibrium model with non-homothetic preferences. It shows the existence of a negative relationship between the number and quantity of products consumed by an income group and the earnings of other income groups. It also highlights the negative effect of a mean-preserving spread of income on aggregate productivity through the softening of firms’ selection. This effect is however mitigated in the presence of international trade. In a quantitative analysis, it is shown that an excessively large mean-preserving spread of income may harm the rich as it raises firms’ markups on their purchases. This is contrary to the general belief that income inequality benefits the rich.
    Date: 2018–07–11
  29. By: Saodah Wok (Department of Communication, International Islamic University Malaysia, Malaysia Author-2-Name: Nada Rahmawati Author-2-Workplace-Name: International Islamic University Malaysia, Malaysia Author-3-Name: Author-3-Workplace-Name: Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:)
    Abstract: "Objective – This study aims to examine the effects of perception on technological change, leadership change and structural change towards students' emotions; and to analyze the mediating effect of experience on perception towards emotion resulting from organizational changes. Using the Theory of Emotional Contagion (Hatfield, Cacioppo & Rapson, 1993), organizational change can produce a number of positive and negative emotional responses that can be transferred to others. Methodology/Technique - The study employs the quantitative research design using the survey method with the selfadministered questionnaire. A total of 223 respondents were identified among the undergraduate students at a faculty in a public university who have faced organizational changes (technological, leadership and structural). Findings – The results reveal that perceptions of technology, leadership and structural changes are found to have moderate effects on students' emotions. However, experiences of change partially mediate students' emotion and perception of technological, leadership and structural changes. Experience with organizational changes affects students' emotions badly. Novelty – The implications of the Emotional Contagion Theory holds true for organizational changes as the hypotheses are supported. Students' emotions are equally important to be considered before applying any change to any academic institution."
    Keywords: "Emotional Contagion Theory; Emotional Effect; Leadership Change; Structural Change; Technological Change."
    JEL: I21 O33
    Date: 2017–06–28
  30. By: Stein, Wiebke; Weisser, Reinhard A.
    Abstract: This paper investigates how witnessing adverse events affects individuals' perceptions and consequently their personal subjective well-being. In order to do so, we compare material well-being dynamics with changes in subjective well-being. We link GIS data on local flood shocks to an extensive household sample from rural Southeast Asia. This allows us to contrast individuals who actually experienced a shock with those who did not. We find that the mere proximity to a potentially adverse flood shock, without any direct impact on a household's material well-being, can be sufficient to affect subjective well-being.
    Keywords: perception; subjective well-being; GIS data; MODIS flood mapping
    JEL: I31 Q51 R23
    Date: 2018–07
  31. By: FUJII, Tomoki (School of Economics, Singapore Management University)
    Abstract: Absenteeism of health workers in developing countries is common and can severely undermine the reliability of health system. Therefore, it is important to understand where the prevalence of absenteeism is high. We develop a simple imputation method that combines a Service Delivery Indicators survey and a Service Provision Assessment survey to estimate the prevalence of absenteeism of health workers at the level of regions in Tanzania. The resulting estimates allow one to identify the regions in which the prevalence of absenteeism is significantly higher or lower than the national average and help policymakers determine the priority areas for intervention.
    Keywords: Sub-Saharan Africa; primary health facility; imputation; random-effects probit; service delivery indicator
    Date: 2018–07–16
  32. By: Sonali Jain-Chandra; Niny Khor; Rui Mano; Johanna Schauer; Philippe Wingender; Juzhong Zhuang
    Abstract: China has experienced rapid economic growth over the past two decades and is on the brink of eradicating poverty. However, income inequality increased sharply from the early 1980s and rendered China among the most unequal countries in the world. This trend has started to reverse as China has experienced a modest decline in inequality since 2008. This paper identifies various drivers behind these trends – including structural changes such as urbanization and aging and, more recently, policy initiatives to combat it. It finds that policies will need to play an important role in curbing inequality in the future, as projected structural trends will put further strain on equity considerations. In particular, fiscal policy reforms have the potential to enhance inclusiveness and equity, both on the tax and expenditure side.
    Keywords: Asia and Pacific;China;Fiscal policy;Income inequality;structural change, Personal Income and Wealth Distribution, General
    Date: 2018–06–05

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