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on South East Asia |
| By: | Isabelle Laplace (ENAC - Ecole Nationale de l'Aviation Civile); Nathalie Lenoir (LEEA - ENAC - Laboratoire d'Economie et d'Econométrie de l'Aérien - ENAC - Ecole Nationale de l'Aviation Civile); Chantal Roucolle (ENAC - Ecole Nationale de l'Aviation Civile) |
| Date: | 2019–09–20 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-02297335&r=all |
| By: | Mansur, Alfan; Nizar, Muhammad Afdi |
| Abstract: | In a number of occasions during the bad times where financial markets are under pressure, Indonesia often suffers the most compared to neighbors or peer countries. It indicates that there is something fundamental as the driving factors and the depth of the Indonesian financial sector may be the major factor. This research aims to investigate how deep and develop the Indonesian financial sector using multiple indicators and metrics. This research also investigates the causal relationship between financial sector development and the economic growth whether the Indonesian financial sector is supply-leading or demand-following. Moreover, this research attempts to identify the determinants of the financial sector development in Indonesia. The results show that the development of the Indonesian financial sector has been focused on the access aspect, while the development of its depth as well as efficiency is still limited. The depth level by the end of 2018 was even still lower than the level in the mid-1990s. The research's results also show that the financial sector development in Indonesia is demand-following or it develops as the economy grows. Lastly, the results show that the financial sector development in Indonesia is affected by multi-aspect factors ranging from macroeconomic factors and institutions to the openness levels either trade openness or financial openness. On those many structural aspects, Indonesia is inferior compared with many countries, so it is not a coincidence that the Indonesian financial sector is less developed compared to the many countries. |
| Keywords: | financial sector, development, market, depth, economy |
| JEL: | C12 C43 E44 G10 G18 G21 G28 |
| Date: | 2019–09–24 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:96265&r=all |
| By: | Nicolas Gravel (CSH - Centre de sciences humaines de New Delhi - MEAE - Ministère de l'Europe et des Affaires étrangères - CNRS - Centre National de la Recherche Scientifique, AMSE - Aix-Marseille Sciences Economiques - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - Ecole Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique); Edward Levavasseur (AMSE - Aix-Marseille Sciences Economiques - EHESS - École des hautes études en sciences sociales - AMU - Aix Marseille Université - ECM - Ecole Centrale de Marseille - CNRS - Centre National de la Recherche Scientifique); Patrick Moyes (GREThA - Groupe de Recherche en Economie Théorique et Appliquée - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique) |
| Abstract: | This paper proposes two dominance criteria for evaluating education systems described as joint distributions of the pupils' cognitive skill achievements and family backgrounds. The first criterion is shown to be the smallest transitive ranking of education systems compatible with three elementary principles. The first principle requires any improvement in the cognitive skill of a child with a given family background to be recorded favorably. The second principle demands that any child's cognitive skill be all the more favorably appraised as the child is coming from an unfavorable background. The third principle states that when two different skills and family backgrounds are allocated between two children, it is preferable that the high skill be given to the low background child than the other way around. The criterion considers system A to be better than system B when, for every pair of reference background and skill, the fraction of children with both a lower background and a better skill than the reference is larger in A than in B. Our second criterion completes the first by adding to the three principles the elitist requirement that a mean-preserving spread in the skills of two children with the same background be recorded favorably. We apply our criteria to the ranking of education systems of 43 countries, taking the PISA score in mathematics as the measure of cognitive skills and the largest of the two parents International Socio Economic Index as the indicator of background. We show that, albeit incomplete, our criteria enables conclusive comparisons of about 19% of all the possible pairs of countries. Education systems of fast-growing Asian economies - in particular Vietnam - appear at the top of our rankings while those of relatively wealthy Arabic countries such as Lebanon, United Arab Emirates and Jordan are at the bottom. The fraction of countries that can be ranked successfully happens to be only mildly increased as a result of adding elitism to the three other principles. |
| Keywords: | Education,inequality,family background,opportunities,dominance,math scores,international comparisons |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-02291128&r=all |
| By: | Robbie Lin; Chyi Lin Lee |
| Abstract: | Logistics properties have been an increasingly institutionalised property sector in the Asia-Pacific property investment space. It was mostly driven by the strong economic expansion and demographic population growth in the Asia-Pacific. Particularly, e-commerce continues to drive the demand for warehouse space that forms the key driver of logistics properties. The purpose of this paper is to assess superior risk-adjusted performance and portfolio diversification benefits of logistics REITs in Australia, Japan and Singapore over July 2009 - December 2018. To reflect the actual property allocation and major asset classes allocation within institutional investors’ holdings, this study deploys a constrained asset allocation analysis. The preliminary results suggest that logistics REITs as the value-added and strategic role in a mixed-asset portfolio to institutional investors seeking property investment in the Asia-Pacific. The practical property investment implications for logistics properties as an institutionalised property sector are also identified. |
| Keywords: | Asia-Pacific; E-commerce; Institutional Investors; Logistics REITs; Risk-Adjusted Performance |
| JEL: | R3 |
| Date: | 2019–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2019_124&r=all |
| By: | Giuseppe Attanasi; Ylenia Curci; Patrick Llerena; Maria del Pino Ramos-Sosa; Adriana Carolina Pinate; Giulia Urso |
| Abstract: | This article presents a mixed-methods research in the field of creativity. By making use of experiments and a questionnaire, it analyses how creativity is affected by three factors: i) motivation, ii) individuals’ attitudes towards risk and ambiguity and iii) social context. Each one of these factors has been extensively investigated in the theoretical and empirical literature getting to results still open to discussion. In particular, this research focuses on two aspects. First, we try to shed some light on the controversial findings linking risk taking and creativity that exist in the economic and psychology literature. To do so, we test the hypotheses that self perception of creative abilities may play a role in establishing a riskcreativity positive correlation. Second, being the three factors strongly influenced by culture, the study investigates whether the impacts on creativity may differ in diverse geographical locations. Following Attanasi et al. (2019), we exploit data from experiments performed in main cities of one eastern and one western country: Ho Chi Minh city (Vietnam) and Strasbourg (France). The information to build the risk and ambiguity factor derive from risk and ambiguity elicitation via lotteries. To account for motivation, different organizational scenarios are set in experimental treatments (financial incentives vs non financial incentives to collaborate). Finally, information on social context and self perception of creative abilities are collected through a self administrated questionnaire. In our analysis, we find that risk aversion, social habits and leisure activities have a positive effect on the creative performance of the French participants, while for Vietnamese the intrinsic motivation and the perception of their own creative capacities are positive correlated with creative scores. Our results suggest that in a country like France, social context has a strong influence on individual creativity, while for Vietnam individual features play a role in creativity, suggesting that the socio-cultural context has different impacts on creativity. |
| Keywords: | Cexperiments, risk, ambiguity, self-perceived creativity, motivation, geographical location, social context. |
| JEL: | I23 O31 O32 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:ulp:sbbeta:2019-38&r=all |
| By: | Phuong Le; Cuong Le Van; Anh Ngoc Nguyen; Ngoc Minh Nguyen; Phu Nguyen-Van; Dinh-Tri Vo |
| Abstract: | We first consider the question of the productivity of the economy of Vietnam at the macro level. With theoretical models and empirical data, we find out the Leontief production function, and its associated TFP (Total Factor Productivity). We show that the TFP is one of the main engines of Vietnam economic growth. However when we move to the micro level with the capital productivity of 2,835 State Owned Enterprises (SOEs), we discover there exists an over utilization of the physical capital and more importantly, diversion of the capital stock. This diversion may be due to a waste of capital stocks or to a special form of bribery we call "hidden overhead". To summarize, economic growth in Vietnam my be enhanced by investing in the founding components of TFP such as new technology, Human Capital, better organisational system, but also by fighting the bribery and the over utilization of the physical capital. |
| Keywords: | Productivity; Production Function; TFP; Hidden Overhead. |
| JEL: | E60 O11 P21 |
| Date: | 2019 |
| URL: | http://d.repec.org/n?u=RePEc:ulp:sbbeta:2019-36&r=all |
| By: | Trung Tran; Thi Thu Hien Le; Thi Thuy Trang Nguyen; Anh Giang Pham; Thi Hanh Vu; Minh Hoang Nguyen; Ha My Vuong; Thu Trang Vuong; Phuong Hanh Hoang; Manh Toan Ho; Quan-Hoang Vuong |
| Abstract: | Book reading is an important factor contributing to children's cognitive development and education for sustainable development. However, in a developing country like Vietnam, statistics have reported a low figure in book reading: only 1.2 books a year. This research study used a dataset of 1676 observations of junior high school students from Northern Vietnam to explore students' reading behavior and its association with demographic factors, and the family's reading culture. Data analysis suggests the older the student gets, the less inclined they are to read, and being female and having hobbies of low sensory stimulation are linked to higher preference for reading. Regarding scholarly culture at home, students who read more varied types of books and spend more time on books are correlated with higher reading interest. Reading habits are also positively reinforced by the capacity to access books and parental book reading. |
| Keywords: | Education for sustainable developments; Gender; Junior high school students; Reading abilities; Reading practices; Sustainable education; Vietnam |
| Date: | 2019–08 |
| URL: | http://d.repec.org/n?u=RePEc:ulb:ulbeco:2013/292782&r=all |
| By: | Hai Feng Hu |
| Abstract: | The Rank/Size rule (Zipf’s law) implies that the bigger the city, the more attractive the city. And, the difference of population growth in megacities all over the world implies that attraction of Asian megacities is greater than Western megacities. This research adds the “urban dream” factor into the push-and-pull theory for city formation, and because most of the “urban dream” comes from poverty, this research proposes that the intensity of urban dream is a decreasing function of human and economic development, thus the intensity of urban dream will be bigger in Asia, consequently the push-and-pull model with urban dream factor can explain the differences between Eastern and Western megacities. |
| Keywords: | city size; Megacity; Migration; urban dream |
| JEL: | R3 |
| Date: | 2019–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:eres2019_67&r=all |
| By: | Alberto Bisin; Giulia Tura |
| Abstract: | We study the cultural integration of immigrants, estimating a structural model of marital matching along ethnic dimensions, exploring in detail the role of fertility, and possibly divorce in the integration process. We exploit rich administrative demographic data on the universe of marriages formed in Italy, as well as birth and separation records from 1995 to 2012. We estimate strong preferences of ethnic minorities' towards socialization of children to their own identity, identifying marital selection and fertility choices as fundamental socialization mechanisms. The estimated cultural intolerance of Italians towards immigrant minorities is also substantial. Turning to long-run simulations, we find that cultural intolerances, as well as fertility and homogamy rates, slow-down the cultural integration of some immigrant ethnic minorities, especially Latin America, East Asia and Sub-Saharan Africa. Nonetheless, 75% of immigrants integrate into the majoritarian culture over the period of a generation. Interestingly, we show by counterfactual analysis that a lower cultural intolerance of Italians towards minorities would lead to slower cultural integration by allowing immigrants a more widespread use of their own language rather than Italian in heterogamous marriages. Finally, we quantitatively assess the effects of large future immigration inflows. |
| JEL: | D1 J12 J13 J15 |
| Date: | 2019–09 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:26303&r=all |
| By: | Palmer, Michael; Williams, Jenny; McPake, Barbara |
| Abstract: | Little is known about the extra costs faced by households with disabled members in low resource settings and the impact of these costs on living standards. In this paper we estimate the direct cost associated with disability for households in Cambodia. Using the Standard of Living approach, the direct cost associated with having a member with disabilities is estimated to be 19% of monthly household consumption expenditure. Accounting for the direct cost of disability doubles the poverty rate amongst households with disabled members from 18% to 37%, and increases the poverty gap from 3 to 8 per cent. A comparison of the direct cost associated with disability and income support received from government and family sources reveals that only 7 per cent of the costs of disability are met. Our findings suggest that, in the absence of increased coverage of public income support, households with disabled members will continue to experience a lower standard of living compared to households without disability in Cambodia. |
| Keywords: | disability, standard of living approach, cambodia |
| JEL: | I15 I32 O12 |
| Date: | 2018–08 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:90045&r=all |
| By: | Lahny, Moh Abduttawwab |
| Abstract: | This research looked for comparing the fatwa of the Egyptian Dar al - Ifta and the fatwa of the Indonesian Council of Ulema on network marketing, which has a purpose to know the comparison. Conceptual and comparative approaches of the standard judgment research with qualitative descriptive research. This research took place first, they gave equal definition and how to derive only a slight difference in the same questions. Adhere to the House of Fatwa, the decisions of the Islamic synods and also looks at the people of competence. And the Indonesian Council of Ulema on the result of the jurisprudence university curriculum and explanatory and restorative and fill the pretext. Secondly, in their inquiring questions, they have a special way to report on network marketing. The fatwa report of the Egyptian Fatwa House passed the fatwa through four basic stages in the mufti's mind: photography, conditioning, statement of judgment, and the stage of downloading and issuing the fatwa; Also, attention to: The decision of the Minister of Industry and Trade and the system of the Minister of Commerce. |
| Keywords: | Multy Level Marketing, Fatwa of Dar Ifta Egypt, Indonesian Council of Ulema. |
| JEL: | M2 M3 |
| Date: | 2019–09–28 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:96211&r=all |
| By: | Medel-Ramírez, Carlos; Medel-López, Hilario |
| Abstract: | The present proposal, as an area of opportunity, addresses the empowerment of indigenous women, as a mechanism that seeks to achieve the development of management skills of sustainable productive organizations in the short, medium and / or long term, create individual commitment to develop their own potentialities and to generate an answer for their social change and human development. This in support of the strategy to combat poverty and social exclusion, through the development of productive projects, through the management of sustainable productive organizations that seek to improve the living conditions and social position of indigenous women. The importance of the research is that it seeks to deepen the social exclusion processes present in indigenous women, in order to propose alternative solutions in order to overcome their condition of multidimensional poverty and that seek to strengthen the actions for empowerment in the development of their management capacities themselves that are elements that promote the development of sustainable productive organizations. |
| Keywords: | Empowerment of indigenous women, management of sustainable organizations, multidimensional poverty, social exclusion., Vietnam, México |
| JEL: | I32 I38 O38 |
| Date: | 2019–09–22 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:96287&r=all |
| By: | Chen Jin (National University of Singapore, School of Computing, Department of Information Systems and Analytics, 13 Computing Drive, Singapore 117417, Republic of Singapore); Luyi Yang (Johns Hopkins University, Carey Business School, 100 International Drive, Baltimore, MD, 21202, USA); Kartik Hosanagar (The University of Pennsylvania, the Wharton School, 3730 Walnut Street, 552 Jon M. Huntsman Hall, Philadelphia, PA, 19104, USA) |
| Abstract: | “Brushing"---the practice of online merchants placing fake orders of their own products to artificially inflate sales on e-commerce platforms---has recently received widespread public attention. On the one hand, brushing enables merchants to boost their rankings in search results, because products with higher sales volume are often ranked higher. On the other hand, rankings matter because search frictions faced by customers narrow their attention to only the few products that show up at the top. Thus, fake orders from brushing may affect customer choice. We build a stylized model to understand merchants’ strategic brushing behavior and its welfare implications. We consider two competing merchants selling substitutable products (one of high quality, the other of low quality) in an evolutionary sales-based ranking system that assigns a higher ranking to a product with higher sales. In principle, such an adaptive system improves customer welfare relative to a case in which products are randomly ranked, but it also triggers brushing as an unintended consequence. Since the high-quality merchant receives a favorable bias in the sales-based ranking, he mainly has a defensive brushing incentive, whereas the low-quality merchant mostly has an offensive brushing incentive. As a result, brushing is a double-edged sword for customers. It may lead customer welfare to be even lower than what it would be in a random-ranking system, but in some other cases, it can surprisingly improve customer welfare. If brushing is more difficult for merchants (e.g., due to tougher regulations), it may make customers worse off as it attenuates brushing by the high-quality merchant but induces the low-quality one to brush more aggressively. If search is easier for customers (e.g., due to improved search technologies), it can actually hurt them as it may disproportionately discourage the high-quality merchant from brushing. |
| Keywords: | search; rankings; brushing; fake; customer welfare |
| Date: | 2019–09 |
| URL: | http://d.repec.org/n?u=RePEc:net:wpaper:1902&r=all |
| By: | Rashid Javed (UPPA - Université de Pau et des Pays de l'Adour); Mazhar Mughal (ESC Pau) |
| Abstract: | Son preference prevails widely in South and East Asia and is demonstrated by sex-selection methods such as differential stopping and sex-selective abortion. Differential birth-spacing is another possible way by which this disproportionate desire for sons could manifest itself. The time span before moving on to the next pregnancy may be short as long as sons have not been born. Shorter birth spacing leads to higher demand on the mother's body, leading to higher health risk to both mother and child. In addition there is greater competition among siblings for parental care and resources. In this study, we examine this phenomenon by using three demographic and health surveys of Pakistani households covering the period from 1990-91 to 2012-13 and carrying out a set of duration model estimations. We investigate if and how preference for sons affects birth-spacing, if this relationship has evolved over time, if it depends on the order, number or overall proportion of sons born,and whether it increases the probability of risky births (those less than 24 or 18 months from the previous birth). We gauge the type of households in which this phenomenon appears to be more prevalent. We find strong evidence for differential behaviour at early parities throughout the period. Women whose first or second children are sons have significantly longer subsequent birth intervals compared with women with no sons. Birth-spacing differs substantially by parity and number of children. Sex of the firstborn is another significant factor. The association seems to have undergone little significant change over the past two decades. Besides, the likelihood of risky births is higher among women without one or more sons. This phenomenon of gender-specific lengthy and risky birth intervals is prevalent more among households that are wealthier or nuclear and among women with greater say in intra-household decisions. |
| Abstract: | L'espacement différencié entre les naissances est un exemple démontrant comment le phénomène de préférence pour les garçons peut se manifester. La période précédant la prochaine grossesse peut être courte tant que le nombre désiré des garçons n'est pas né. Une période limitée entre les naissances entraine plus de pression sur le corps des femmes, plus de risques en matière de santé pour la mère et son enfant. De plus, il existe une plus grande rivalité entre les enfants concernant les soins et les ressources des parents. Nous étudions ce phénomène à partir de trois enquêtes démographiques et de santé réalisées auprès de différents ménages pakistanais de 1990-91 à 2012-2013. Nous voulons savoir si et comment la préférence pour les garçons affecte l'écart entre deux naissances, si cette relation évolue sur la période, si elle dépend de l'ordre de naissance, du nombre ou de la part de garçons nés, et si cela accroit la probabilité de naissances risquées. Nous étudions également le profil de ménage où ce phénomène est plus récurrent. En utilisant des méthodes d'estimation paramétriques semi et non paramétriques, nous trouvons des indices forts en faveure d'espacement différencié pour les premières naissances tout au long de la période. Les femmes qui ont d'abord eu deux garçons attendent entre 13 et 17% plus de temps avant une troisième naissance que celles qui n'ont pas eu de garçons. L'espacement varie de façon significative par ordre des naissances et le nombre d'enfants. Le sexe du premier enfant également joue un rôle important. En outre il existe une probabilité plus forte de naissances risquées. Ce comportement est plus répandu dans les familles plus riches ou nucléaires, avec des femmes plus âgées, plus éduquées ou qui ont un poids plus important dans les prises de décision au sein du ménage. Ces résultats ont des répercussions importantes pour la santé maternelle et infantile au Pakistan. |
| Date: | 2019–09–21 |
| URL: | http://d.repec.org/n?u=RePEc:hal:wpaper:hal-02293629&r=all |
| By: | Rosati, Nicoletta (European Commission -- JRC); Bellia, Mario (European Commission -- JRC); Matos, Pedro Verga (University of Lisbon); Oliviera, Vasco (University of Lisbon) |
| Abstract: | In this paper we propose a novel approach in analysing the impact of changes in sovereign credit ratings on stock markets. We study the evolution of a segmented form of the stock market index for several crisis-hit countries, including both European and Asian markets. Such evolution is modelled by a homogeneous Markov chain, where the transition probabilities from one starting level of the index to a new (lower or higher) level in the next period depend on some explanatory variables, namely the country’s rating, GDP and interest rate, through a generalised ordered probit model. The credit ratings turn out to be determinant in the dynamics of the stock markets for all three European countries considered - Portugal, Spain and Greece, while not all considered Asian countries show evidence of correlation of market indices with the ratings. |
| Keywords: | Credit ratings; financial crisis; Europe; Markov chains; generalized ordered probit models |
| JEL: | C25 C58 E44 G01 G15 G24 |
| Date: | 2019–09 |
| URL: | http://d.repec.org/n?u=RePEc:jrs:wpaper:201908&r=all |