nep-sea New Economics Papers
on South East Asia
Issue of 2021‒06‒21
twenty-two papers chosen by
Kavita Iyengar
Asian Development Bank

  1. Interdependence Between Monetary Policy And Asset Prices In Asean-5 Countries By Solikin M. Juhro; Bernard N. Iyke; Paresh K. Narayan
  2. Cancer care and access to cancer drugs in Asia-Pacific By Hofmarcher, Thomas; Keel, George; Lindgren, Peter
  3. Energy potential assessments and investment opportunities for wind energy in Indonesia By Nurry Widya Hesty; Dian Galuh Cendrawati; Rabindra Nepal; Muhammad Indra al Irsyad
  4. Direct Monetary Costs and Its Determinants in Migration Decisions: Case of Cross-Border Labour Migration from Cambodia to Thailand By Chan Mono Oum; Gazi M. Hassan; Mark J. Holmes
  5. The Generalized System of Preferences and NGO Activism By Lionel Fontagné; Michela Limardi
  8. Four great Asian trade collapses By Alan de Bromhead; Alan Fernihough; Markus Lampe; Kevin Hjortshøj O’Rourke
  9. The Importance Of Digital Platform For The Sustainability Of MSME By Handoyo, Anastasia
  10. Hong Kong’s Intermediary Role on Funding the BRI: How does it fare against Singapore? By Alicia García-Herrero; Hanrui Li; Gary Ng
  11. How good are manufacturing jobs in Myanmar?: Evidence from matched employer-employee data By Paolo Falco; Francesca Gioia; Neda Trifkovi?
  12. Study of Airport Service Quality and Profitability in Indonesia By Nugroho, Adi
  13. Future of Rohingyas: Dignified Return to Myanmar or Restoring Their Rights or Both By Mohajan, Haradhan
  14. Pricing and Risk Analysis in Hyperbolic Local Volatility Model with Quasi Monte Carlo By Julien Hok; Sergei Kucherenko
  15. Education Attainment and Economic Growth of Asian Developing Countries By Humaira Kamal Pasha
  16. Evaluating a Community-Led Central-Kitchen Model for School Feeding Programs in the Philippines: Learnings for Multisectoral Action for Health By Vanessa T. Siy Van; Carmina P. Siguin; Andrew C. Lacsina; Lean Franzl L. Yao; Zarah G. Sales; Normahitta P. Gordoncillo; Leslie Advincula-Lopez; Joselito T. Sescon; Eden Delight Miro
  17. Engineering-Economic Evaluation of Diffractive Non-Line-Of-Sight Backhaul (e3nb): A Techno-economic Model for 3D Wireless Backhaul Assessment By Edward J. Oughton; Erik Boch; Julius Kusuma
  18. Are Certified Supply Chains More Socially Sustainable? A Bargaining Power Analysis By Paul Muller; Michael Böhm; Péter Csillag; Michele Donati; Marion Drut; Hugo Ferrer-Pérez; Lisa Gauvrit; Jose Gil; Viet Hoang; Agata Malak-Rawlikowska; Konstadinos Mattas; Orachos Napasintuwong; An Nguyen; Ioannis Papadopoulos; Bojan Ristic; Zaklina Stojanovic; Áron Török; Efthimia Tsakiridou; Mario Veneziani; Valentin Bellassen
  19. COVID-19’s reality shock for external-funding dependent emerging economies By Alicia García-Herrero; Elina Ribakova
  20. Estimating the Ex-ante and the Ex-post Effects of Chinese Outward FDI By Donatella Baiardi; Valeria Gattai; Piergiovanna Natale
  21. L'impact socio-économique du Brexit sur CANZUK et l'Anglosphère lors de la pandémie COVID-19 : Le cas du Canada, de l'Australie et de la Nouvelle-Zélande By Kohnert, Dirk

  1. By: Solikin M. Juhro (Bank Indonesia); Bernard N. Iyke (APAEA); Paresh K. Narayan (APAEA)
    Abstract: In this paper, we investigate the interdependence between monetary policy and asset prices in ASEAN-5 countries. Within country-specific models and proxying asset prices by the composite stock market indices of these countries, we find strong interdependence between monetary policy and asset prices. We show that real stock prices decline as interest rates increase due to a contractionary monetary policy shock. Interest rates rise in response to an increase in real stock prices induced by a stock price shock, although it does so after a couple of months after the shock. We find the interdependence of monetary policy and asset prices to hold up within panel models. The delay in interest rate response to stock price shocks originates from three of the ASEAN-5 countries, namely Indonesia, the Philippines, and Thailand.
    Keywords: Monetary Policy, Asset Prices, ASEAN-5 Countries
    JEL: E52 E58 E61 G12
    Date: 2020
  2. By: Hofmarcher, Thomas (IHE - The Swedish Institute for Health Economics); Keel, George (IHE - The Swedish Institute for Health Economics); Lindgren, Peter (IHE - The Swedish Institute for Health Economics)
    Abstract: IHE will publish a report series on cancer care and access to cancer drugs in Asia-Pacific. The main report "Cancer care and access to cancer drugs in Asia and the Pacific" will be published when the five sub-reports have been published. <p> The report explores the state of cancer care and access to cancer drugs in Asia-Pacific. 14 countries and locations, referred to as “markets” in the report, are included in the analysis. They are grouped into 7 high-income markets (Australia, Hong Kong, Japan, New Zealand, Singapore, South Korea, Taiwan) and 7 middle-income markets (China, India, Indonesia, Malaysia, the Philippines, Thailand, Vietnam). <p> The report provides a comparative analysis of the 14 markets. It is divided into five sub-reports focusing on: <p> 1. The burden of cancer: It shows that cancer patient numbers have been growing steadily in recent years along with the incoming silver tsunami. While more and more patients survive cancer in high-income markets, patient outcomes in middle-income markets are at best stagnating. <p> 2. Health spending on cancer care: It shows that most markets miss the informal WHO target of public health spending of 5% of GDP. Cancer accounts for 5-9% of total health spending in high-income markets and only 1-2% (excl. out-of-pocket payments) in some middle-income markets. <p> 3. Patient access to innovative cancer drugs: It shows that there is a big gap between the number of innovative drugs with regulatory approval and those with reimbursement approval. Almost 1 million patient life years are lost for every year of delay in reimbursement of 10 innovative cancer drug-indications across the markets. <p> 4. Health spending on cancer drugs and unmet patient needs: Total health spending on cancer drugs ranges from $30 to $90 per capita in high-income markets and from $0.2 to $6.6 in middle-income markets (based on list prices). Despite higher spending on innovative cancer drugs, even high-income markets may struggle to meet patient needs. <p> 5. Pricing policies for off-patent cancer drugs: Pricing policies for off-patent cancer drugs are not fully effective in many markets. Effective pricing policies for off-patent cancer drugs could free up substantial resources for re-investment in new innovative cancer drugs. <p> The report was funded by Merck Sharp & Dohme (MSD). Responsibility for the analysis, interpretations, and conclusions, as well as errors or omissions lies solely with the authors.
    Keywords: Cancer; cancer drugs; Asia; Australia; China; Hong Kong; India; Indonesia; Japan; New Zealand; Malaysia; Philippines; Singapore; South Korea; Thailand; Taiwan; Vietnam; healtheconomics; hälsoekonomi; Health expenditure
    Date: 2021
  3. By: Nurry Widya Hesty; Dian Galuh Cendrawati; Rabindra Nepal; Muhammad Indra al Irsyad
    Abstract: Indonesia has a target of achieving 23% of renewable energy share in total energy mix in 2025. However, as commonly observed across developing economies, Indonesia also does not have accurate and comprehensive database of renewable energy potentials, especially wind energy. Therefore, this article aims to assess the theoretical potential of wind speed and to visualize the wind speed by province based on wind map using GIS for the entire Indonesia. Our assessment integrates advanced analytical techniques, i.e., Weather Research and Forecasting (WRF) model, method geographic information system (GIS), Newtonian relaxation assimilation technique, and Variational Analysis Method (VAM). The robustness of our analysis is confirmed by using high resolution data from the National Aeronautics and Space Administration (NASA) database and Cross-Calibrated Multi-Platform (CCMP) Reanalysis satellite data. Wind resource measurement data in Jayapura, Bantaeng and Sukabumi sites are used to validate the modelling results. The biases of the modelled data are 0.324, 0.368, and 0.324 in Jayapura, Bantaeng and Sukabumi respectively. This conclusion has two global implications. First, this study shows the WRF method is a feasible option to estimate wind speed data in developing countries commonly lacking meteorological stations to measure the wind energy resources. Second, the yearly wind mapping by province level produces mean wind speed map that is a useful information to indicate the profile of wind energy resource as the input for the wind energy system planning. We then match the wind energy potentials with other factors influencing wind warm feasibility, e.g., renewable energy tariffs, and parameters of power system flexibility.
    Keywords: Wind energy, Indonesia, Renewable Resources, Weather Research and Forecasting
    Date: 2021–03
  4. By: Chan Mono Oum (University of Waikato); Gazi M. Hassan (University of Waikato); Mark J. Holmes (University of Waikato)
    Abstract: Migration cost is a critical factor of human labour mobility, and little is known about how much migrant workers would pay for their foreign jobs. Previous studies do not capture the effects of direct worker-paid migration costs on migration decisions; the endeavour to ensure a positive return on migration thus remains a puzzling and new frontier in labour migration research. The paper investigates the effect of the direct monetary costs on formal or informal migration decisions of Cambodian labour migrants to Thailand, using unique data from a 422-household survey in Cambodia. The survey also includes data from 17 registered recruiting agencies that enable us to construct the alternative specific conditional logit model with alternative migration cost-specifics. After controlling for the endogenous costs of moving using the Control Function method, we find that reducing the total cost of labour migration lowers the probability of choosing irregular migration by 15.8 percentage points. The choice of regular or irregular migration is also determined by other factors such as destination countries' immigration policies, such as deportation, length of stay, and income. The labour migration policies should be revisited by considering these factors to curb the high migration cost.
    Keywords: costs of migration; regular migration; irregular migration; Cambodia
    JEL: F22 J08 R23
    Date: 2021–06–10
  5. By: Lionel Fontagné (Banque de France, Université Paris 1 Panthéon-Sorbonne Centre d'Economie de la Sorbonne, PSE, CEPII); Michela Limardi (Centre d'Economie de la Sorbonne, RIME lab (Université de Lille))
    Abstract: Can preferential market access help to enforce Labor Laws in beneficiary countries? The Generalized System of Preferences (GSP) is accorded conditional on compliance with labor rights. The United States scheme leaves room for petitioning and revising the scheme upon request by interest groups. We here focus on such a review episode, and ask whether it led to the better enforcement of domestic Labor Laws in Indonesia. Using data from Indonesian Manufacturing firms, we show that GSP renegotiation combined with the activism of workers' rights groups helped increase firm-level average wages up to the minimum wage level, not only inside but also outside the export sector. GSP leverage allowed labor NGOs to act more effectively by putting the violation of national Labor Laws and poor working conditions under the international spotlight
    Keywords: GSP; labor standards; NGOs; wage determination
    JEL: J52 J80
    Date: 2021–04
  6. By: Usman, Safri
    Abstract: Provinsi Gorontalo merupakan salah satu daerah yang memiliki potensi perikanan yang cukup baik. Salah satu jenis hasil perikanan tangkap yang melimpah yaitu ikan cakalang (Katsuwonus pelamis). Menurut ( DKP Gorontalo) pada tahumn 2009-2010 jumlah produksinya mencapai 7.609 Ton. Penangkapan ikan cakalang (Katsuwonus pelamis) di perairan Indonesia dapat dilakukan sepanjang tahun dan hasil yang diperoleh berbeda dari musim ke musim serta bervariasi menurut lokasi penangkapan. Apabila hasil tangkapan lebih banyak dari biasanya disebut musim puncak dan apabila dihasilkan lebih sedikit dari biasanya disebut musim paceklik Fausan (2011) dalam Ibrahim (2013).
    Date: 2021–05–25
  7. By: Intan, Patricia; Dinanti, Fila Destia; Wulandari, Dwi
    Abstract: Kemiskinan dan ketimpangan selalu menjadi masalah di setiap negara sedang berkembang, bahkan di negara maju pun juga. Di Indonesia tingginya jumlah penduduk miskin dipengaruhi oleh berbagai macam factor, diantaranya adanya ketimpangan dalam pendistribusian pendapatan antar satu provinsi dengan provinsi lainnya. Penelitian ini bertujuan untuk menganalisis seberapa besar seberapa besar tingkat kemiskinan dan ketimpangan distribusi pendapatan yang terjadi di Sumatera Utara tahun 2016- 2020. Metode analisis data dalam penelitian ini adalah pendekatan deskriptif kuantitatif. Jenis data yang digunakan adalah data sekunder yang diperoleh dari Badan Pusat Statistik Provinsi Sumatera Utara dari tahun 2016 hingga tahun 2020. Setelah dilakukan analisis dapat diperoleh hasil bahwa ketimpangan distribusi pendapatan Provinsi Sumatera Utara yang dilihat dari Gini Ratio selama lima tahun pengamatan rata-rata koefisien berada di atas angka 0,310 yang artinya ketimpangan di Provinsi Sumatera Utara masih tergolong rendah (0 < GR < 0,4) karenanya pembangunan ekonomi dan distribusi pendapatan di Provinsi Sumatera Utara relatif merata, dan nilai Gini Ratio tertinggi selama tahun pengamatan terjadi di September 2017.
    Date: 2021–05–22
  8. By: Alan de Bromhead; Alan Fernihough; Markus Lampe; Kevin Hjortshøj O’Rourke
    Abstract: This paper introduces a new dataset of commodity-specific, bilateral import data for four large Asian economies in the interwar period: China, the Dutch East Indies, India, and Japan. It uses these data to describe the interwar trade collapses in the economies concerned. These resembled the post-2008 Great Trade Collapse in some respects but not in others: they occurred along the intensive margin, imports of cars were particularly badly affected, and imports of durable goods fell by more than those of non-durables, except in China and India which were rapidly industrializing. On the other hand the import declines were geographically imbalanced, while prices were more important than quantities in driving the overall collapse.
    Keywords: Trade collapses; interwar economy; protection
    JEL: N75 F14
    Date: 2021–04–01
  9. By: Handoyo, Anastasia
    Abstract: Tugas Perekonomian Indonesia KP A
    Date: 2021–05–23
  10. By: Alicia García-Herrero (Senior Research Fellow, Bruegel); Hanrui Li (Macroeconomic Data Analyst, Macrobound Financial); Gary Ng (Economist at NATIXIS.)
    Keywords: Hong Kong, Economic Development, Singapore, Belt and Road Initiative, Finance
    Date: 2020–10
  11. By: Paolo Falco; Francesca Gioia; Neda Trifkovi?
    Abstract: The quality of people's jobs is a fundamental determinant of their well-being, and judging the state of a labour market on the basis of job quantity alone delivers a very partial picture. This study is an attempt to place the spotlight on the working conditions of workers in the Myanmar manufacturing sector. Using a model of job demands and job resources, we focus on the balance between different stress factors and the support workers get. We find that a large fraction of workers face severe pressures.
    Keywords: job quality, Productivity, Working conditions, Myanmar
    Date: 2021
  12. By: Nugroho, Adi
    Abstract: This study was about the Airport Service Quality (ASQ) measurement and its relation to profitability in the airport industry. The main purpose of this study was to develop an understanding of the ASQ measurement in Airports by investigating the relationships of service quality in terms of creating purchase intentions. In specific to ASQ, the surveys have been systematically carried out by many airport operators all over the world. ASQ has 8 components: access; check-in; passport/personal ID control; security; finding your way; airport facilities; airport environment; and arrival services. This is different from PZB’s (1985) Service Quality dimensions. This suggests that an effective process of measuring and analyzing passenger perceptions of ASQ is not easily achieved. These concerns are certainly relevant to avoid misinterpreting passenger perceptions. The measurement model should be considered for a multidimensional approach in the context of airport performance measurement regarding service quality.The study, however, included the perceptions of both international passengers and domestic concerning the current service levels, more specific was using the measurement model of Cronin and Taylor (1992). Cronin and Taylor (1992) say that perception alone is enough and even better than other models i.e, PZB (1988) model. This study analyzes whether passengers may stay longer in the airport, recommend the airport to other people or pay higher tax if they are satisfied with the service offers by airport. This also included an assessment the ability ASQ to explain the variation in repeat purchase intention including interaction among variables. The results of this study show ASQ has a moderately low effect of purchasing intentions.
    Date: 2021–05–22
  13. By: Mohajan, Haradhan
    Abstract: At present Bangladesh is hosting more than 1.1 million of Rohingyas who have been migrated from Myanmar and maximum of them are living in 34 makeshift camps of Cox’s Bazar and some thousands start to live at Bhashan Char of Bangladesh. The Government of Bangladesh (GoB) does not recognize Rohingyas as refugees and so they are not entitled to claim even the rights of refugees in Bangladesh. Getting support from the international community, the GoB still tries to repatriate Rohingyas to Myanmar, as the repatriation will relieve the huge burden of Bangladesh. But Rohingyas are not interested to go back to their home country, Myanmar without establishing their citizenship and some other rights. As a result, till today not a single Rohingya has been repatriated to Myanmar and so at present the future of the Rohingya is in uncertainty. Bangladesh always think the fruitful solution of the Rohingya Crisis lies on their repatriation but more than three years after Rohingyas’ new entry in 2017 no repatriation happens and so the question arises what may be the future of Rohingyas? Is the future of Rohingyas rely on their repatriation or staying in Bangladesh for a longer period of time with or without restoring their rights, would be tried to discuss in this article. If the Rohingyas will have to stay in Bangladesh for a longer time, then what the GoB should do, will also be discussed in this paper. For this the field visit and interviews with Rohingya refugees at Rohingya Refugee Camp in 2018 and also in 2020 by the first author, M. M. Rahman, and his more than 3 years working experience on Rohingya crisis at BTV (Bangladesh Television) and the literature reviews by all the authors will be utilized.
    Keywords: Rohingya, citizenship rights, dignified return
    JEL: A1 A13 I31
    Date: 2020–07–09
  14. By: Julien Hok; Sergei Kucherenko
    Abstract: Local volatility models usually capture the surface of implied volatilities more accurately than other approaches, such as stochastic volatility models. We present the results of application of Monte Carlo (MC) and Quasi Monte Carlo (QMC) methods for derivative pricing and risk analysis based on Hyperbolic Local Volatility Model. In high-dimensional integration QMC shows a superior performance over MC if the effective dimension of an integrand is not too large. In application to derivative pricing and computation of Greeks effective dimensions depend on path discretization algorithms. The results presented for the Asian option show the superior performance of the Quasi Monte Carlo methods especially for the Brownian Bridge discretization scheme.
    Date: 2021–06
  15. By: Humaira Kamal Pasha (CERDI - Centre d'Études et de Recherches sur le Développement International - CNRS - Centre National de la Recherche Scientifique - UCA - Université Clermont Auvergne)
    Abstract: The purpose of the study is to examine the long-run relationship of economic growth and education in the developing countries of Asia from 1991 to 2015 by following Barro and Lee approach. The econometric strategy indicates long-run relationship between public spending on education and education achievement based on Cobb-Douglas production function with intuition of Solow Augmented Growth Model. In addition, the study attempts to deal with the potential endogeneity by using Generalized Method of Moment (GMM) technique. Findings provide increase economic growth with higher budget allocation in education; however, contradict the assumption of Solow Augmented Mankiw-Romer-Weil for population growth rate. The study finds robust estimates for economic growth determining by life expectancy rate and purchasing power parity as well as by examining heterogeneity among countries classified into subsamples. The findings present valuable recommendations to increase human capital investment in education for policy makers.
    Keywords: Economic growth,Human capital,Public spending,Panel data. JEL Codes: O1,I2,H52,C33
    Date: 2021–03–18
  16. By: Vanessa T. Siy Van (Health Sciences Program, Ateneo de Manila University); Carmina P. Siguin (Community Welfare, Wellness, and Well-being Laboratory, Ateneo de Manila University); Andrew C. Lacsina (Community Welfare, Wellness, and Well-being Laboratory, Ateneo de Manila University); Lean Franzl L. Yao (Department of Mathematics, Ateneo de Manila University); Zarah G. Sales (Institute of Human Nutrition and Food, University of the Philippines Los Baños); Normahitta P. Gordoncillo (Institute of Human Nutrition and Food, University of the Philippines Los Baños); Leslie Advincula-Lopez (Development Studies Program, Ateneo de Manila University); Joselito T. Sescon (Department of Economics, Ateneo de Manila University); Eden Delight Miro (Department of Mathematics, Ateneo de Manila University)
    Abstract: In devolved governments like the Philippines, local government units (LGUs) must be engaged to develop and coordinate responses to tackle the multisectoral problem of childhood undernutrition. However, current Philippine nutrition interventions, such as school feeding programs (SFPs) generally rely on the national government or private sector, to mixed results. The central-kitchen SFP-model was developed by 2 Philippine non-government organizations and facilitated large-scale feeding through community multisectoral action. This paper evaluated the model’s impact in 1 urban-city and 1 rural-province using data from 24-hour dietary recalls with 308 rural and 310 urban public-school students and household surveys with their caregivers. Enabling factors were explored in focus-group discussions with 160 multisector participants and implementers, and a review of official documents. The program had greater impact on rural beneficiaries and improved dietary habits and school participation in both sites, though menu modifications could increase program impact. The locally-led-and-operated central kitchens were a multisectoral investment that served as a scaffold for other health, education, and social-welfare interventions. Program sustainability was attributed to affording communities agency to operate and modify the model according to local needs, embed volunteer pools in social networks, and organize demand for related services from their LGU. Public participation in local policymaking compelled LGUs to rally non-health sectors to address non-health determinants of undernutrition. Operations were sustained despite political leadership changes through formal and informal accountability mechanisms and transparent monitoring and evaluation across sectors. The model demonstrated empowering civil society can hold local governments accountable for multisectoral action in decentralized settings. Future interventions should also focus on educating local leaders, as their knowledge of the relevance of holistic health interventions was a necessary precondition that motivated their stewardship and coordination of different government sectors.
    Keywords: community-led central kitchen model, school feeding program, childhood nutrition
    JEL: H75 I18
    Date: 2021–06
  17. By: Edward J. Oughton; Erik Boch; Julius Kusuma
    Abstract: Developing ways to affordably deliver broadband connectivity is one of the major issues of our time. In challenging deployment locations with irregular terrain, fiber optic or traditional Clear-Line-Of-Sight (CLOS) wireless links can be uneconomical to deploy, resulting from the number of required towers making infrastructure deployment unviable. With the emergence of new research focusing on developing wireless diffractive backhaul technologies to provide diffractive Non-Line-Of-Sight (NLOS) links, this paper evaluates the engineering-economic implications of such approaches. To quantify different technology strategies, a Three-Dimensional (3D) techno-economic assessment framework is presented to help prioritize regions for future investment in broadband connectivity, utilizing a combination of remote sensing and viewshed geospatial techniques. Such a method is an essential evaluation step prior to beginning detailed Radio Frequency (RF) Quality of Service engineering but has hitherto received less research attention in the literature. This framework is applied to assess both Clear-Line-Of-Sight and diffractive Non-Line-Of-Sight strategies for deployment in Peru, as well as the islands of Kalimantan and Papua, in Indonesia. The results find that a hybrid strategy combining the use of Clear-Line-Of-Sight and diffractive Non-Line-Of-Sight links produces a 15-43 percent cost-efficiency saving, relative to only using traditional Clear-Line-Of-Sight wireless backhaul links. The codebase is released opensource via the Engineering-Economic Evaluation of Non-Line-of-Sight Backhaul (e3nb) repository.
    Date: 2021–06
  18. By: Paul Muller (BETA - Bureau d'Économie Théorique et Appliquée - UL - Université de Lorraine - UNISTRA - Université de Strasbourg - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, CESAER - Centre d'Economie et de Sociologie Rurales Appliquées à l'Agriculture et aux Espaces Ruraux - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - AgroSup Dijon - Institut National Supérieur des Sciences Agronomiques, de l'Alimentation et de l'Environnement); Michael Böhm (Ecozept - Partenaires INRAE); Péter Csillag (Corvinus University of Budapest - Corvinus University of Budapest); Michele Donati (University of Parma); Marion Drut (CESAER - Centre d'Economie et de Sociologie Rurales Appliquées à l'Agriculture et aux Espaces Ruraux - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - AgroSup Dijon - Institut National Supérieur des Sciences Agronomiques, de l'Alimentation et de l'Environnement); Hugo Ferrer-Pérez (CREDA - Centre for Agro-Food Economy & Development, UPC-IRTA, Castelldefels, Spain - UPC - Université polytechnique de Catalogne); Lisa Gauvrit (Ecozept - Partenaires INRAE); Jose Gil (CREDA - Centre for Agro-Food Economy & Development, UPC-IRTA, Castelldefels, Spain - UPC - Université polytechnique de Catalogne); Viet Hoang (School of Economics, University of Economics Ho Chi Minh City, Ho Chi Minh City 700000, Vietnam); Agata Malak-Rawlikowska (Faculty of Biology [Warsaw] - UW - University of Warsaw); Konstadinos Mattas (Aristotle University of Thessaloniki); Orachos Napasintuwong (Kasetsart University - KU (THAILAND) - KU - Kasetsart University); An Nguyen (School of Economics, University of Economics Ho Chi Minh City, Ho Chi Minh City 700000, Vietnam); Ioannis Papadopoulos (Aristotle University of Thessaloniki); Bojan Ristic (University of Belgrade [Belgrade]); Zaklina Stojanovic (University of Belgrade [Belgrade]); Áron Török (Corvinus University of Budapest); Efthimia Tsakiridou (Aristotle University of Thessaloniki); Mario Veneziani (University of Parma); Valentin Bellassen (CESAER - Centre d'Economie et de Sociologie Rurales Appliquées à l'Agriculture et aux Espaces Ruraux - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement - AgroSup Dijon - Institut National Supérieur des Sciences Agronomiques, de l'Alimentation et de l'Environnement)
    Abstract: Food quality schemes (FQS: organic and geographical indication products) are often supposed to be more sustainable by their political advocates. We explore the social sustainability advantage of FQS through the lens of supply chains' bargaining power (BP) distribution. We propose an indicator synthesizing different sources underlying BP (competition-based, transactional, institutional) and counting two dimensions (fair BP distribution and adaptation capacity), that we apply to 18 FQS supply chains and corresponding reference. FQS perform better than their reference products on both dimensions. This better performance is due to a combination of sources.
    Keywords: bargaining power,market power,transaction costs,institutions,social sustainability indicator,Bargaining power
    Date: 2021–05–13
  19. By: Alicia García-Herrero (Chief Economist for Asia Pacific, NATIXIS, Department of Economics & Institute for Emerging Market Studies, Hong Kong University of Science and Technology); Elina Ribakova (Deputy Chief Economist at the Institute of International Finance)
    Abstract: The spread of COVID-19 and its associated impacts have again brought into focus the dependence of emerging market economies on external financing. This column analyses the factors that put emerging economies at an increased risk of a sudden reduction in dollar liquidity as a consequence of the COVID-19 outbreak. Based on this analysis, it reviews the key tools at the disposal of emerging economies, the Fed, and the IMF to address this problem. It concludes by offering some policy recommendations on the pecking order that could be followed to potentially shield the emerging economies from the dollar shortage problems related to COVID-19.
    Keywords: COVID-19, Finance, Financial Regulation, Central Banks, Emerging Economies, IMF, Monetary Policy, Emerging Markets
    Date: 2020–05
  20. By: Donatella Baiardi; Valeria Gattai; Piergiovanna Natale
    Abstract: This study investigates the relationship between outward Foreign Direct Investment (FDI) and the performance of Chinese enterprises. Using firm-level panel data over the period 2008–2014, we introduce a taxonomy of outward FDI that accounts for the decision to invest abroad and the location of foreign affiliates. Through different specifications, we show systematic differences in performance between FDI starters and non-starters two years before and two years after the first investment by the starters. This fact points to the existence of strong ex-ante and ex-post effects of Chinese outward FDI. On one hand, we provide evidence — so far not present in the literature — that the best performing Chinese firms self-select into outward FDI. On the other hand, controlling for endogeneity through propensity score matching (PSM) techniques, we detect significant learning effects from outward FDI to firm-level performance. Interestingly, these effects are heterogeneous with respect to destination, with deeper learning for Chinese enterprises investing in Asia.
    Keywords: FDI; China; ex-ante effects; ex-post effects; panel data
    JEL: F23 L25 O53
    Date: 2021–06
  21. By: Kohnert, Dirk
    Abstract: ABSTRACT & RÉSUMÉ & ZUSAMMENFASSUNG : Although Britain has been one of the hardest hit among the EU member states by the corona pandemic, Boris Johnson left the EU at the end of 2020. Brexit supporters endorsed the idea of CANZUK, i.e. a union between the UK, Canada, Australia and New Zealand. The CANZUK was embedded in a vision of the revival of the olden days of Great Britain and its role in the ‘Anglosphere’, dating back to World War II and 19th-century British settler colonialism. It is rather doubtful whether the CANZUK members can realize Boris Johnson’s vision of prosperous trade in the ‘Anglosphere’. Besides, there are many open questions, notably on the overall effect of Brexit on CANZUK concerning the socio-economic impact of the global Corona crisis. Last, but not least, will the relative weight of the UK vis à vis other global players like China and India diminish in the medium and long run. After all, the new global focus of international trade will be reallocated from the Atlantic (America and Europe) to the Asian Pacific region, the key player in world economies to come. RÉSUMÉ : Bien que la Grande-Bretagne ait été l'un des États membres les plus durement touchés par la COVID-19 pandémie, Boris Johnson a quitté l'UE fine 2020. Les partisans du Brexit ont approuvé l'idée de CANZUK, c'est-à-dire, une union entre le Royaume-Uni, le Canada, l'Australie et Nouvelle-Zélande. Le CANZUK s’inscrivait dans une vision de la renaissance des anciens temps de la Grande-Bretagne et de son rôle dans « l ’Anglosphère », datant de la Seconde Guerre mondiale et du colonialisme des colons britanniques du XIXe siècle. Il est assez douteux que les membres de CANZUK puissent revaloriser la vision de Boris Johnson d’un commerce prospère dans « l’Anglosphère ». En outre, de nombreuses questions restent ouverts, notamment sur l'effet global du Brexit sur CANZUK par rapport à l'impact socio-économique de la COVID-19 crise mondiale. Enfin, le poids relatif du Royaume-Uni par rapport à d'autres acteurs mondiaux, comme la Chine et l'Inde, diminuera à moyen et long terme. Après tout, la nouvelle orientation mondiale du commerce international sera réaffectée de l'Atlantique (Amérique et Europe) à la région Asie-Pacifique, l'acteur clé de l’économie mondiale à venir. ---------------------------------------------------------------------------------------------------------------------------- ZUSAMMENFASSUNG : Obwohl Großbritannien von der Corona Ppandemie unter den EU-Mitgliedstaaten mit am stärksten betroffen war, verließ Boris Johnson die EU Ende 2020. Die Befürworter des Brexit unterstützten die Idee eines CANZUK Handelsvertrages, d.h. einer Union zwischen Großbritannien, Kanada, Australien und Australien Neuseeland. CANZUK war eingebettet in eine Vision der Wiederbelebung der alten Tage Großbritanniens und seiner Rolle in der „Anglosphäre“, die auf den Zweiten Weltkrieg und den britischen Siedlerkolonialismus des 19. Jahrhunderts zurückgeht. Es ist zweifelhaft, ob die CANZUK-Mitglieder Boris Johnsons Vision eines prosperierenden Handels in der „Anglosphäre“ umsetzen können. Außerdem gibt es viele offene Fragen, insbesondere zu den Gesamteffekten des Brexit auf CANZUK angesichts der sozioökonomischen Auswirkungen der globalen Corona-Krise. Nicht zuletzt, wird das relative Gewicht Großbritanniens gegenüber anderen Global Playern wie China und Indien mittel- und langfristig abnehmen. Schließlich wird sichh der globale Schwerpunkt des internationalen Handels vom Atlantik (Amerika und Europa) auf den asiatisch-pazifischen Raum verlagern, dem Hauptakteur der zukünftigen Weltwirtschaft.
    Keywords: Brexit, pandémie de COVID-19, CANZUK, Canada, Australie, Nouvelle-Zélande, Royaume-Uni, commerce international, zone de libre-échange, union douanière, Anglosphère, settler colonialism, white dominions,
    JEL: F13 F15 F22 F40 F68 I18 I3 N1 O24 O5 Z13
    Date: 2021–05–29
  22. By: Solikin M. Juhro (Bank Indonesia)
    Abstract: This paper is aimed to explore salient issues of central banking practices, especially on challenges confronted by central banks in the digital era, lessons learned, as well as their implications. As we have acknowledged, in the midst of major financial crises in the last two decades, central banks faced very complex policy challenges blighted with high uncertainty, all of which have changed the practical and theoretical perspectives of central bank policy. The complexity and uncertainty of issues faced by central banks have and will continue to evolve in line with the advancement of digital technology. Navigating central banking practices in the digital era, therefore, is a very challenges task that requires the central bank's ability to create breakthroughs and orchestrate policy innovations. While the central bank policy mix is still a viable strategy, central banks are required to operate beyond conventional wisdom, with novel practices. Optimizing the benefits of technological advances and becoming a relevant regulator in the digital era must anchor the central bank's strategy in the future.
    Keywords: Central Bank Policy, Digital Transformation, Central Bank Digital Currency
    JEL: E52 E58 O3
    Date: 2021

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