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on South East Asia |
| By: | Kivanç Halil Ariç (Sivas Cumhuriyet University, Faculty of Economics and Administrative Sciences, Department of International Trade and Logistics, Sivas, Turkey); Siok Kun Sek (School of Mathematical Sciences, Universiti Sains Malaysia 11800 Minden, Penang, Malaysia); Miguel Rocha de Sousa (Department of Economics; Center for Research in Advanced Studies in Management and Economics (CEFAGE); Research Center in Political Science (CICP) Universidade de Évora, Portugal) |
| Abstract: | The current account balance is an important indicator which reveals information on a country’s economic situation such as investments, capital flows, and indebtedness. The main purpose of this study is to examine the current account balance conditions in emerging Asian countries. In this respect, the long-run and causality relationship between current account balance, economic growth, government expenditure, real interest rates, and foreign direct investment was examined. The panel data analysis was applied using the data dated 1986 to 2015. Our results revealed a causal effect from economic growth and government expenditure to current account balance mainly dependent on saving tendency. |
| Keywords: | Asia; Current Account Balance; Economic growth; Emerging Asia; FDI; Panel Data Cointegration Analysis; Real Interest rates. |
| JEL: | C23 C33 E13 F32 F43 F47 P52 |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:cfe:wpcefa:2018_02&r=sea |
| By: | Balakrishnan, VN; Mohamad Khan, Jamal Khan |
| Abstract: | Small and medium-sized enterprises (SME) of third-party logistics struggle to stay competitive and facing various pressure to stay competitive. One of the tactics to be competitive is to implement effective competitive measures. The purpose of this research was to explore the influential factors of competitive advantage on third-party logistics in Selangor Malaysia. Data collection included semi-structured questionnaires from 370 managers involved in logistics activities from the small and medium-sized enterprise manufacturing industries located in Selangor. Data analysis was used to identify key influential factors of competitive advantage progression. Correlation and regression analysis were conducted to test the research hypotheses. The results reflect that competitive measures needed extensive attention to stay competitive in the market. Thus, third-party logistics needs to cultivate competitive advantage knowledge and other competitive measures that will drive the third-party logistics service uniqueness. The findings may contribute to social change by helping small and medium-sized third-party logistics to improve their survival rate and to create their firm’s sustainable competitive capability and performance and as well provide solutions to challenges facing the third-party logistics. |
| Keywords: | Competitive strategy, network structure, information technology, competitive advantage, customer relationship management. |
| JEL: | D7 D8 D83 L1 L14 L21 L25 L26 M13 M31 |
| Date: | 2018–07–30 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:89091&r=sea |
| By: | Mundle, Sudipto (National Institute of Public Finance and Policy) |
| Abstract: | This paper analyses the dramatic spread of education and healthcare in Asia and also the large variations in that spread across and within countries over fifty years. Apart from differences in initial conditions and income levels, the nature of the State has also been an important determinant of these variations. This is because social development has typically been led by the State. But in most countries, public resource constraints and the growing dependence on private provision and private spending have generated a pattern of nested disparities in the access to education and healthcare between rich and poor regions, between rural and urban areas within regions, and between rich and poor households within these areas. However, as the better-off regions, areas, and households approach the upper limits of achievable education and health standards, a process of convergence is also underway as those left behind begin to catch up. |
| Keywords: | Asia ; comparative studies ; disparity ; education ; health ; institutions ; state |
| JEL: | B25 B52 H51 H52 I13 I14 I18 I21 I24 I28 O43 O53 P16 P26 P48 P52 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:npf:wpaper:18/239&r=sea |
| By: | Nguyen Thi Thu Phuong (Centre for Analysis and Forecasting, Vietnamese Academy of Social Sciences); Laure Pasquier-Doumer (IRD, UMR DIAL, PSL, Université Paris-Dauphine) |
| Abstract: | Household business owners mainly rely on their social networks of strong ties to acquire resources in Vietnam. However, no consensus is found in the literature on the influence of strong ties on the performance of small firms in developing countries. Using an original set of qualitative data, this paper provides new evidence on the influence of social networks on household businesses by following a relational approach of the networks. It contributes to the literature by distinguishing the effects of social networks at different phases of the business cycle. It shows that, in the business creation process, strong ties are by far the preferred source of the initial capital as well as information supports. They shape the business at a small size and make it not adapted to rapid changes in the market demand and the technologies in the latter phase of business development. Weak ties are much less mobilized at the start of the business, but they provide a source of valuable information to create innovative businesses. The more the business grows, the higher is the strength of the weak ties. The study illustrates that the use of social networks, including the weak ties, should be understood to be embedded in family structures and local community contexts, with a set of duties and rights embedded in reciprocal relationships beyond not only the business interactions. Les entreprises informelles comptent principalement sur leurs réseaux familiaux pour acquérir des ressources au Vietnam. Cependant, aucun consensus ne se dégage de la littérature sur l’influence des liens forts sur la performance des petites entreprises dans le contexte des pays en développement. À l’aide d’un corpus d’entretiens original, cet article fournit un nouvel éclairage sur l’influence des réseaux sociaux dans le fonctionnement des petites entreprises. En suivant une approche relationnelle des réseaux, il contribue à la littérature en distinguant les effets des réseaux sociaux à des phases différentes du cycle de vie de l’entreprise. Il montre que les liens forts sont la source privilégiée pour obtenir le capital initial et les informations nécessaires dans le processus de création d’entreprise. L’usage des liens forts façonne l’entreprise en la conditionnant à une petite taille et la rendant inadaptée aux changements rapides de la demande et des technologies. Les liens faibles sont beaucoup moins mobilisés au début de l'entreprise, mais ils constituent une source d'informations précieuses pour créer des entreprises innovantes. Plus l'entreprise se développe, plus les liens faibles deviennent cruciaux. L’étude montre que l’utilisation des réseaux sociaux, y compris des liens faibles, est fortement incluse dans les structures familiales et les contextes communautaires locaux, qui supposent un ensemble de droits et de devoirs, notamment une réciprocité qui va au-delà des relations commerciales. |
| Keywords: | Social network, strength of ties, informal sector, Vietnam. |
| JEL: | L14 L26 O17 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:dia:wpaper:dt201813&r=sea |
| By: | Tho V. Le; Junyi Zhang; Makoto Chikaraishi; Akimasa Fujiwara |
| Abstract: | It is one of hottest topics in Vietnam whether to construct a High Speed Rail (HSR) system or not in near future. To analyze the impacts of introducing the HSR on the intercity travel behavior, this research develops an integrated intercity demand forecasting model to represent trip generation and frequency, destination choice and travel mode choice behavior. For this purpose, a comprehensive questionnaire survey with both Revealed Preference (RP) information (an inter-city trip diary) and Stated Preference (SP) information was conducted in Hanoi in 2011. In the SP part, not only HSR, but also Low Cost Carrier is included in the choice set, together with other existing inter-city travel modes. To make full use of the advantages of each type of data and to overcome their disadvantages, RP and SP data are combined to describe the destination choice and mode choice behavior, while trip generation and frequency are represented by using the RP data. The model estimation results show the inter-relationship between trip generation and frequency, destination choice and travel mode choice, and confirm that those components should not dealt with separately. |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1810.00155&r=sea |
| By: | Heerman, Kari E.; Sheldon, Ian M. |
| Keywords: | International Trade, Food and Agricultural Policy Analysis, Productivity Analysis and Emerging Technologies |
| Date: | 2018–06–20 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aaea18:274279&r=sea |
| By: | Imanol Perez Arribas |
| Abstract: | We introduce signature payoffs, a family of path-dependent derivatives that are given in terms of the signature of the price path of the underlying asset. We show that these derivatives are dense in the space of continuous payoffs, a result that is exploited to quickly price arbitrary continuous payoffs. This approach to pricing derivatives is then tested with European options, American options, Asian options, lookback options and variance swaps. As we show, signature payoffs can be used to price these derivatives with very high accuracy. |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:1809.09466&r=sea |
| By: | Kirrane, Christopher |
| Abstract: | The IMF is now focused on crisis prevention and management, particularly in developing and transition countries. While confirming that the IMF as a centerpiece of the international financial system, the Asian crisis tends to demonstrate the limits, or excesses, of its action. A redefinition of its role and mandate seems necessary. |
| Keywords: | IMF, currency crises |
| JEL: | F3 F33 |
| Date: | 2017–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:89104&r=sea |
| By: | Kirrane, Christopher |
| Abstract: | This paper attempts to answer three questions: (1) does international finance in general and national and international monetary and financial institutions cause financial and economic instability for countries?; (2) Is it possible to prevent the benefits of increased access to international capital markets from being diminished and even reversed by international and national monetary and financial crises, and, as a corollary, (3) are current national currencies outdated? |
| Keywords: | Currency crises |
| JEL: | F31 |
| Date: | 2018–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:89103&r=sea |
| By: | Chang, Pao-Li (School of Economics, Singapore Management University); Hsu, Wen-Tai (School of Economics, Singapore Management University) |
| Abstract: | This article provides a review on the theories of various power-law phenomena related to geography and trade. In particular, we focus our discussion on the gravity equation of trade flows, the power law in firm size, and the link between the two - highlighting the roles of geography and trade in the theoretical modeling. We also discuss how these two power-law phenomena may be related to other power-law phenomena, such as those in income, firm productivity and city size. |
| Date: | 2018–09–27 |
| URL: | http://d.repec.org/n?u=RePEc:ris:smuesw:2018_019&r=sea |
| By: | Konstantinos Chisiridis (Department of Economics, University of Macedonia, Greece); Kostas Mouratidis (Department of Economics, University of Sheffield, UK); Theodore Panagiotidis (Department of Economics, University of Macedonia, Greece) |
| Abstract: | The European north-south divide has been an issue of a long-standing debate. We employ a Global VAR model for 28 developed and developing countries to examine the interaction between the global trade imbalances and their impact within the euro-area framework. The aim is to assess the propagation mechanisms of real shocks, focusing on the interconnections among the north euro area and the south euro area. We incorporate theory-based long-run restrictions and examine the effects of (i) non-export real output shocks, (ii) expansionary shocks and (iii) real exchange rate shocks. The results provide support for symmetric adjustment in the euro area; an expansionary policy of the north euro area and increased competitiveness in the south euro area can alleviate trade imbalances of the debtor euro area economies. From the south euro area perspective, internal devaluation is the most beneficial policy. North euro area and U.S. origin shocks to domestic output exert a dominant influence in the rest of the Europe and Asia while the strong linkage between trade flows within the euro area is confirmed. |
| Keywords: | North-South Euro Area Trade Imbalances, Global Trade Imbalances, International Linkages, Global VAR, Spillover Effects |
| JEL: | C33 E27 F14 |
| Date: | 2018–10 |
| URL: | http://d.repec.org/n?u=RePEc:shf:wpaper:2018015&r=sea |
| By: | Niaz Asadullah (University of Malaya, Malaysia); Alain Trannoy (Aix-Marseille University (AMSE), CNRS and EHESS, France); Sandy Tubeuf (Université Catholique de Louvain, Belgium); Gaston Yalonetzky (University of Leeds, UK) |
| Abstract: | Inequality of opportunity builds upon the distinction between fair inequality related to responsibility variables and unfair inequality related to circumstances. This distinction is meaningful as long as responsibility variables are not fully determined by circumstances. We attempt to check the magnitude of the correlation between child effort and family background when measuring inequalities of opportunity in education using a purposefully designed survey on secondary-school education in rural Bangladesh. The analysis comprises decomposition exercises of the predicted variance of school performance in mathematics and English by source and subgroup based on parametric estimates of educational production functions. Pupils’ effort, preferences, and talents contribute between a third and 40\% of the total predicted variances in performance scores. The correlation between overall effort and circumstances does not matter much since the contribution of overall effort only falls by 10\% when the correlation is taken into account. All in all, these results cast doubt on the common practice of reducing education to a circumstance when estimating inequality of opportunity in income attainment. |
| Keywords: | inequality of opportunity, education, effort, decomposition, school. |
| JEL: | C01 I24 O12 |
| Date: | 2018–09 |
| URL: | http://d.repec.org/n?u=RePEc:inq:inqwps:ecineq2018-474&r=sea |