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on South East Asia |
| By: | Nith, Kosal |
| Abstract: | This paper analyzes the threat and opportunity of textiles and clothing industry in Cambodia by employing SWOT analysis, quantitative method of revealed comparative and competitive advantage. The findings reveal that Cambodia has both comparative and competitive advantage of garment industry comparing to another Asian garment exporting countries-namely India, Pakistan, Thailand, and Vietnam, except Bangladesh. Whereas the Cambodian textile industry experiences both comparative and competitive disadvantage as it obtains the lowest score among counties in this study. Our analysis shows that the Cambodian T&S sector faces the risk of EBA, negative impact on the US-China trade war. Vietnam’s readiness, along with good trade policy between India and Bangladesh, is also has a negative impact on Cambodia. Cambodia must consider long-term and medium-term strategies to expand competitiveness for T&S exports. Nevertheless, the term of trade could obtain positive growth since the price of garment and textile products experiences an increasing trend. |
| Keywords: | Textiles and Clothing, Everything but Arms, Revealed Comparative Advantage, Revealed Competitive Advantages, Trade Policy. |
| JEL: | F18 F21 F53 L16 L52 |
| Date: | 2019–05–18 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:94378&r=all |
| By: | Michiyuki Yagi (Graduate School of Business Administration, Kobe University); Katsuhiko Kokubu (Graduate School of Business Administration, Kobe University) |
| Abstract: | As an introductory analysis, this paper examines how to shift to the sustainable production in Southeast Asia (especially in Thailand). The current situation of environment and supply chain management in Southeast Asia is measly understood. This paper aims to understand the current situation and future issues with discussion of related policy issues in Southeast Asia. Research design of this study is divided into two parts; micro and macro viewpoints. From the micro viewpoint, we examine corporate disclosure and green purchasing/procurement by adopting neo-institutional theory and stakeholder theory. Regarding corporate disclosure, we use CDP data, whereas, regarding green purchasing/procurement, we use Toyokeizai corporate social responsibility data (focusing on Japanese firms). On the other hand, from the macro viewpoint, we examine the current situation following Porter hypothesis and the framework of green product development of Southeast Asian countries. Based on some macro statistics such as OECD statistics and World Bank data, we review the current situation and what should be discussed from these frameworks as remaining issues. |
| Keywords: | Repeated games; Monitoring option; Imperfect monitoring; Folk theorem |
| JEL: | C72 C73 |
| URL: | http://d.repec.org/n?u=RePEc:kbb:dpaper:2016-13&r=all |
| By: | Rahman, Mahbubur; Mohajan, Haradhan |
| Abstract: | The Rohingya is a Muslim ethnic minority group in Rakhine State of Myanmar. It is now established but controversial fact that the Rohingya is a stateless population of the world who has found shelter across vast swathes of Asia mainly in Bangladesh, and also in India, Pakistan, Thailand and Malaysia. But a majority of Rohingyas are living in various camps of Bangladesh with statelessness identity. Recently, the UN warns that the Rohingya children who are living in various camps of Bangladesh would be the lost generations of the world. This article discusses the aspects of “stateless community” and “lost generation” of the world’s most persecuted people-the Rohingya. |
| Keywords: | Statelessness, Lost Generation, Rohingya |
| JEL: | A2 B3 B30 N9 |
| Date: | 2019–02–15 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:94659&r=all |
| By: | Maruf, Aminudin; Masih, Mansur |
| Abstract: | Although there are a number of studies on the relationship between infrastructure and economic growth, this study is the first attempt at investigating whether the relationship between infrastructure and economic growth is symmetric or asymmetric in Indonesia. Using the non-linear ARDL technique, this study employs quarterly data from 1990:Q1 – 2016:Q1. The paper finds a long-run asymmetric relationship between infrastructure and economic growth but symmetric relationship in the short-run. Moreover, this study also finds the causal direction of economic development in Indonesia from gross fixed capital formation to labor. The paper suggests the expansion of investment in the infrastructural industry to boost the growth of the Indonesian economy. The study also urges the policy makers to design robust infrastructure policies guiding the infrastructure and country’s economy in both the short-run and long-run period. |
| Keywords: | Infrastructure, Economic Growth, Non-Linear ARDL, Indonesia |
| JEL: | C58 O4 |
| Date: | 2019–06–22 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:94663&r=all |
| By: | Wang, Ruixue; Rejesus, Roderick M.; Tack, Jesse B.; Balagtas, Joseph V.; Nelson, Andy |
| Abstract: | This study examines the relationship between yields of modern rice varieties and three major weather variables | maximum temperature, minimum temperature, and precipitation. Data from a long-running farm-level survey in the Philippines, with rich information on planted rice varieties, allows us to estimate fixed effect econometric models of rice yields. We find that increases in temperature, especially minimum temperatures, have substantial negative impacts on rice yields. Yield response to temperatures vary across different varietal groups. Early modern varieties, bred primarily for higher yields, pest resistance, and/or grain quality traits, demonstrate improved heat-stress resistance relative to traditional varieties. Moreover, the most recent varietal group bred for better tolerance to abiotic stresses are even more resilient to warming temperatures. These results provide some evidence that public investments in breeding rice varieties more tolerant to warming temperatures have been successful, and continued investments in these breeding efforts are warranted. |
| Keywords: | Agricultural and Food Policy |
| Date: | 2019–05–29 |
| URL: | http://d.repec.org/n?u=RePEc:ags:eaa172:289720&r=all |
| By: | Ilan Noy; Cuong Nguyen; Pooja Patel |
| Abstract: | In 2011, Thailand experienced its worst flood ever. Using repeated waves of the Thai Household Survey, we analyse the flood’s economic impacts. In 2012, households answered a set of questions on the extent of flooding they experienced. We use this self-identified flood exposure, and external exposure indicators from satellite images, to identify both directly affected households and those that were not directly flooded but their communities were (the spillovers). We measure the impact of the disaster on income, expenditure, assets, debt and savings levels, directly, and indirectly on spillover households. We also analyse the flood’s impacts across different socio-economic groups. |
| Keywords: | disaster, flood, Thailand, economic impact |
| JEL: | O12 Q54 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:ces:ceswps:_7644&r=all |
| By: | Riatu Mariatul Qibthiyyah (Institute for Economic and Social Research, Faculty of Economics and Business, Universitas Indonesia) |
| Abstract: | Indonesia decentralization policy is an expenditure type of decentralization. It has evolved from setting functional assignments to coordination of expenditure programs across level of governments. This study will compare type of cooperation that has taken place in three sectors of expenditure programs: (1) environmental - carbon emission mitigation programs, (2) infrastructure programs, and (3) social assistance program. We investigate challenges and opportunities of central government support that can still be salience for the sub-national and local governments involvement on those expenditure programs. |
| Keywords: | expenditure decentralization — functional assignment — government cooperation |
| JEL: | H5 H10 |
| Date: | 2019–05 |
| URL: | http://d.repec.org/n?u=RePEc:lpe:wpaper:201935&r=all |
| By: | Azwan, Nurul Iman; Masih, Mansur |
| Abstract: | The increasing price of housing property in Malaysia has become a concern as it increases the cost of living through debt payment by households. The purpose of the paper is to investigate whether the housing price has an asymmetric relationship with banking debt. The asymmetric relationship will be tested using the NARDL method. The research will aid the policymakers in deciding whether measures to control housing loan or alternatively, the initiatives and controls on the housing supply-side is better to curb increasing price of houses. The paper finds that the relationship between banking debt and housing prices is asymmetric in the short run and symmetric in the long run. However, we find that the relationship between housing debt and housing prices is asymmetric in both the short and long run. A positive change in housing debt will affect the housing price inflation more than a negative change. Through the causality tests, we find that policies should focus on the supply-side and price control policies to affect the housing price, rather than the controls on banking debt |
| Keywords: | housing price, banking debt, NARDL, Malaysia |
| JEL: | C58 E44 |
| Date: | 2019–06–23 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:94685&r=all |
| By: | Cao Chenrui |
| Abstract: | India and China are naturally a pair of sister countries. Their similarities and their association are great, numerous and intimate with every aspect and from every standard of observation and judgment. Looking over the geography and history of all the nations in the world, it is observed that there are no other two nations that can be compared to these two countries. The two countries, both situated in the bright and glorious continent of Asia; India to the south-west and China to the north-east, spread out lordly in different direction but yet are linked up at the main line, just like the two wheels of the carriage or the wings of a bird, and the two hands and feet or the two ears and eyes of a person. More than 2,000 years ago, the southern silk road from Yunnan became the link of trade, culture exchanges between China and South and Southeast Asian countries. Yunnan has historically shared a border with India for a long time. The state in the western part of Yunnan was connected with the ancient state of India which still adds to the better relationship of the two countries. With this background the article stress on the similarity of the two countries and highlights the avenues yet to be achieved by the counties. Key Words: emerging trends, India, China, India and China, developing countries Policy |
| Date: | 2018–12 |
| URL: | http://d.repec.org/n?u=RePEc:vor:issues:2018-28-11&r=all |
| By: | Facundo Abraham (World Bank Development Research Group); Juan J. Cortina (World Bank Development Research Group); Sergio L. Schmukler (World Bank Development Research Group) |
| Abstract: | During the past decades, firms from emerging economies have significantly increased the amount of financing obtained in capital markets. Most of the literature has focused on issuances in international markets, which appear to have been a key driver of the overall activity in a context of financial globalization. This paper explores whether domestic issuances have also played a role in this increase in financing. By examining the case of East Asia, which captures most of the capital raisings among emerging economies, this paper shows that domestic issuances have been the main component of the overall expansion in capital market financing since 2000. As domestic markets developed, more and smaller firms accessed capital markets, while larger corporations increased their funding sources and their resilience to international shocks. The experience of East Asia shows that domestic capital markets can play a useful role and that numerous policies might aid in their development. |
| Keywords: | Asian Financial Crisis; corporate bond markets; corporate financing; Global Financial Crisis; SME capital markets; stock markets; syndicated loan markets |
| JEL: | F33 G00 G01 G15 G21 G23 G31 |
| Date: | 2019–06 |
| URL: | http://d.repec.org/n?u=RePEc:anc:wmofir:154&r=all |
| By: | Vedat Akgiray |
| Abstract: | Beyond bitcoin, blockchain technology has acquired attention and importance in its own right. Today, it is conceptually accepted that blockchain stands out as a disruptive technology that will change a number of processes in financial services and could in turn impact corporate governance. This paper explores the recent applications of blockchain technology in financial services and outlines regulatory responses, to set the scene for future work in this area on corporate governance. This paper provided background for the Corporate Governance Committee’s roundtable discussion on blockchain technology and the implementation of the G20/OECD Principles of Corporate Governance on 10 April 2018. A subsequent presentation of the paper was given at the OECD Workshop on Digital Financial Assets on the 16 May 2018, and at the OECD-Asian Roundtable on Corporate Governance in Malaysia on 7-8 November 2018. This work also provides a contribution to the work of the OECD Blockchain Policy Centre. |
| Keywords: | blockchain, corporate governance, distributed ledger technology, financial market regulation, technological innovation |
| JEL: | G30 G38 O30 O33 |
| Date: | 2019–06–25 |
| URL: | http://d.repec.org/n?u=RePEc:oec:dafaae:21-en&r=all |
| By: | Elyas, Redha; Masih, Mansur |
| Abstract: | Global environmental pollution has been rapidly growing over the past few years, causing global warming and drastic climate changes. There are efforts carried out by individuals and entities to minimize the level of pollution worldwide. This study attempts to investigate the nexus relationship between carbon emissions, FDI inflows, exports and GDP. Having an open economic setting, heavy reliance on FDI and exports, as well as high rate of carbon emissions, Singapore appears to suit the study. The analysis is carried out using standard time-series techniques, supplemented by ARDL and NARDL tests on annual data spanning from 1970 to 2017. The empirical results tend to suggest that the nexus relationship is statistically significant, the rate of carbon emissions really influences GDP through FDI and that the CO2 emission is the most exogenous among the variables. This study is consistent with the “no pain all gain” slogan by which implementation of policies related to carbon emissions is expected to expand GDP growth due to the awareness of investors regarding environmental issues. Our findings are of great importance to the development policies in countries facing similar challenges. |
| Keywords: | environment, GDP growth, ARDL, Nonlinear ARDL, Singapore |
| JEL: | C22 C58 Q56 |
| Date: | 2019–06–22 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:94683&r=all |
| By: | Chaikal Nuryakin (Institute for Economic and Social Research, Faculty of Economics and Business, Universitas Indonesia); Lovina Aisha; Natanael Waraney Gerald Massie |
| Abstract: | This study aims to delve deeper into the discussion on how the ?nancial inclusion progress in Indonesia could be affected by the growing ?ntech industry. We shall comprehensively discuss the current state of the platforms in the country, including the potential bene?ts and challenges. Such af?ictions include the hugely-concentrated deposit market, to begin with and the discrepancies between regulators and the technological changes, while the high internet and mobile phone penetration are only one of the many advantages the country are endowed with. The study aims to highlight the challenges faced in increasing ?nancial inclusion before the ?ntech platforms begin to ?ourish and how they differ to the current condition. Novel and relevant policy recommendations are also provided in the latter parts of the discussion. |
| Keywords: | ?nancial inclusion — ?nancial technology — Indonesia — digital divide |
| JEL: | G21 G28 |
| Date: | 2019–05 |
| URL: | http://d.repec.org/n?u=RePEc:lpe:wpaper:201936&r=all |
| By: | Bakari, Sayef; Sofien, Tiba |
| Abstract: | The objective of this paper is to examine the impact of openness, foreign investment inflows, and domestic investment on economic growth for the case of 24 Asian economies over the time span 2002-2017 through the use of the fixed and random effect models. Our empirical results pointed out that domestic investment positively influences economic growth. However, we found that foreign direct investment and exports are negatively affecting the growth path. Also, the population, imports, and final consumption expenditure have no real impact on economic growth. Due to the importance of the positive externalities linked to the trade openness and foreign direct investments inflow, in terms of technology transfer bias, financial capacities, human expertise, large markets size, and spillover effect added to the domestic capacities and the national investment, the pace of the phenomenal economic performance of the Asian economies is very well justified. |
| Keywords: | Trade openness, FDI, Domestic Investment, Economic Growth. |
| JEL: | E22 F13 F14 F15 O11 O16 O47 O53 |
| Date: | 2019–01 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:94489&r=all |
| By: | Hübler, Michael; Schwerhoff, Gregor |
| Abstract: | This article introduces a new Melitz-type model of heterogeneous producers with decreasing returns to scale and different productivities. Different to previous models, it describes smallholder producers in rural areas of developing countries in the context of environment and development economics. The model enables a socially sensitive policy analysis considering poverty and distributional effects. In this model, the production input causes a negative environmental externality. External shocks, e.g., caused by climate change, and economic policies affect the producers' endogenous choice between market entry or exit and between simple or advanced technology. In the frst step, various shocks and policies are analyzed theoretically. A novel type of the rebound effect (Jevons paradox) is identifed for the production input that occurs when market entry is incentivized by productivity improvements. In the second step, the model is calibrated by applying it to coffee production in rural Vietnam. The simulation results show that secondary effects of the shocks, such as employment effects, can be substantially larger than the original impact. The support of market entry or of the advanced technology creates adverse distributional effects. |
| Keywords: | heterogeneous producers, technology choice, climate change, coffee, Vietnam |
| JEL: | O33 Q12 Q17 Q54 |
| Date: | 2019–06 |
| URL: | http://d.repec.org/n?u=RePEc:han:dpaper:dp-655&r=all |
| By: | Sumit Agarwal (National University of Singapore); Elvira Sojli (University of New South Wales); Wing Wah Tham (University of New South Wales) |
| Abstract: | Commuting imposes financial, time and emotional cost on the labor force, which increases the cost of supplying labor. Theory suggests a negative or no relation between travel and working time for two reasons: travel time is a cost to supplying labor and commuting frustrates the traveler decreasing productivity. We use a unique dataset that records all commuting trips by public transport (bus and train) over three months in 2013 to study if commuting time affects labor supply decisions in Singapore. We propose a new measure of commuting and working time based on administrative data, which sidesteps issues related to survey data. We document a causal positive relation between commute time and the labor supply decision within individuals. Specifically, we show that a one standard deviation increase in commute time increases working time by 2.6%, controlling for individual, location, and time fixed effects. There are two sources of variation in the elasticity of work time to travel time: across individual and within individual (time variation). While part of the cross-sectional variation may be captured by survey data, the time-variation is completely unexplored. First, we find that the cross-sectional variation depends on whether one engages in a service or manufacturing type of job. This cross-sectional variation might be missed out in survey-based responses due to a different selection process, based say on the proportion of industries in the S&P500. Second, we find that there is very large within individual variation in the elasticity, not based on calendar effects, like day of the week or month. We investigate several potential explanations for this result. We find that in professions where interaction with co-workers and with customers is necessary, i.e. service jobs, disruptions in travelling to work cause a backlog and increase the working hours beyond the original travel delay. These (travel delayed) individuals are not compensated for the time that they put in, in addition to the usual number of working hours. This means that there is a cost shift from employer to employee. Given the recent trend of moving from manufacturing to service-based economies, it is most likely the positive elasticity will increase and become a larger economic burden. |
| Keywords: | Commute time, labor supply, elasticity, task juggling, trains, buses, big data |
| JEL: | D1 J22 J24 M54 |
| URL: | http://d.repec.org/n?u=RePEc:cth:wpaper:gru_2018_015&r=all |
| By: | Chang, Pao-Li (Singapore Management University); Nguyen, Tran Bao Phuong (Singapore Management University) |
| Abstract: | The CPTPP, or the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, is an example of a “mega-regional” free trade agreement, whose provisions on the rules of origin and trade facilitation can have potentially large impacts on the CPTPP-wide supply chains. In this paper, we investigate whether the CPTPP members are key upstream and downstream trade partners to each other in the global value chains. We develop formulas of bilateral upstreamness and downstreamness, based on the gross-export decomposition framework of Koopman, Wang and Wei (2014) and Borin and Mancini (2017). We demonstrate how the decomposition of gross exports can be used to construct informative measures of the position of countries in global value chains. |
| Keywords: | Global value chain (GVC); Gross export decomposition; Upstream/downstream trade partners; GVC position; CPTPP |
| JEL: | F14 F15 |
| Date: | 2019–06–10 |
| URL: | http://d.repec.org/n?u=RePEc:ris:smuesw:2019_012&r=all |