nep-sea New Economics Papers
on South East Asia
Issue of 2023‒01‒09
seventy papers chosen by
Kavita Iyengar
Asian Development Bank

  1. Product market regulation in Indonesia: An international comparison By Christine Lewis; Cristiana Vitale; Rosamaria Bitetti; Auxentius Andry Yudhianto; Javier Terrero-Davila
  2. 한국-베트남 경제ㆍ사회 협력 30년 지속가능한 미래 협력 방안 연구(30 Years of Korea-Vietnam Economic and Social Cooperation 1992-2021: Achievements, Limitations and Suggestions for Further Expansion) By KWAK, Sungil; BEAK , Yong-Hun; LEE, Han-Woo; Lê , Quốc Phương; Vũ, Mạnh Lợi; Nguyễn , Thị Thanh Huyền
  3. Japan and the Regional Comprehensive Economic Partnership (RCEP) By Mie Oba
  4. The Role of the Economic Research Institute for ASEAN and East Asia (ERIA) in Promoting the Regional Comprehensive Economic Partnership (RCEP) By Fusanori Iwasaki; Keita Oikawa
  5. Decentralization, intergovernmental coordination, and emergency response in East and Southeast Asia: lessons from combatting the COVID-19 pandemic. By Sarah Shair-Rosenfield
  6. InforMining: an in-depth study of informalization in global gold production: The Philippines By Robles Mengoa, Eugenia; Geenen, Sara; Verbrugge, Boris; Besmanos, Beverly; López Valverde, Rafael
  9. OJK dan Sistem Moneter Islam By Arief, A. Anggie Zabrina
  10. Analisa Bisnis Penjualan HP Ilegal di E-Commerce (Studi Kasus Shopee) By Wiratama, Ida Bagus Gede Aditya
  11. Assessing Policy Impacts in Digital Services Trade: Implications for the Philippines By Quimba, Francis Mark A.; Moreno, Neil Irwin S.
  12. Macroeconomic Prospects of the Philippines in 2022–2023: Steering through Global Headwinds By Debuque-Gonzales, Margarita; Corpus, John Paul P.; Miral, Ramona Maria L.
  13. Vietnam Macroeconomic Resilience Toward External Shocks By Nguyen Hong Son; Ly Dai Hung
  14. Inflation Structure in Vietnam Economy By Ly Dai Hung
  15. Term-Structure of Foreign Direct Investment Into Vietnam Economy By Ly Dai Hung
  17. Pentingnya Aplikasi Kredit Pintar Sebagai Media Pelayanan dan Kebutuhan Masyarakat menggunakan metode 7C Framework By , Sandyawan
  18. Kebijakan Anti Kolusi Dalam Penyelenggaraan Pemerintahan By Fyngky, Fryza; Fyngky, Fryza; Fyngky, Fryza
  20. Analisa Bisnis Penjualan HP Ilegal di E-Commerce (Studi Kasus Shopee) By Wiratama, Ida Bagus Gede Aditya
  21. 인도네시아 탄소 중립 대응 정책과 한국의 그린뉴딜과의 협력 방안(Analysis on Net-Zero Policy of Indonesia and It’s Implication for Korean Green New Deal Policy) By Lee, Jaeho
  22. COVID-19 Pandemic and the Health and Well-being of Vulnerable People in Vietnam By Hai-Anh Dang; Minh Do
  23. Prediction Errors of Macroeconomic Indicators and Economic Shocks for ASEAN Member States, 1990-2021 By Masahito Ambashi; Fusanori Iwasaki; Keita Oikawa
  24. Global Trade Cycle and Financial Cycle in Vietnam Economy By Ly Dai Hung
  25. Early contours of Philippine foreign policy under Ferdinand Marcos Jr.: Like father, like son By Heiduk, Felix; Wilms, Tom
  26. Teori Dan Konsep Kewirausahaan By Mansur, Mansur; Dr. Erny Rachmawati, MM; , Caroline; Pratama, Fidya Arie
  27. Analisis Penjualan Sepatu Branded Palsu di Platform Shopee By Satyarini, Mirah
  28. Economic Robustness Under Current Covid-19 Pandemic By Ly Dai Hung
  29. Gender Security and Safety in the ASEAN Digital Economy By Araba Sey
  30. Ekonomi Internasional Sebuah Pemikiran dalam Perspektif Islam By triyawan, andi
  31. Global Value Chain Participation and Labour Productivity in Manufacturing Firms in Viet Nam: Firm-Level Panel Analysis By Upalat Korwatanasakul; Tran Thi Hue
  32. Security in the Indo-Pacific: The Asianisation of the regional security architecture By Heiduk, Felix
  33. Vietnam’s Global Value Chains Participation and Policy Implications for South Korea-Vietnam Economic Cooperation By Truong, Quang Hoan
  34. Does Investment, Zakat, Infak and Shadaqah and Inflation Infuence the Economic Growth?: Evidence from Indonesia By triyawan, andi
  35. Robust Testing for Explosive Behavior with Strongly Dependent Errors By Yiu Lim Lui; Jun Yu; Peter C. B. Phillips
  36. Penggunaan Website Sebagai Alat Pemesanan Transportasi pada Aplikasi Carryfy By Arika, Hidayati
  37. Finite Sample Comparison of Alternative Estimators for Fractional Gaussian Noise By Shi, Shuping; Yu, Jun; Zhang, Chen
  38. FDI Inflows and Domestic Firms: Adjustments to New Export Opportunities By Brian McCaig; Nina Pavcnik; Woan Foong Wong
  39. Exchange rate fluctuations and the financial channel in emerging economies By Beckmann, Joscha; Comunale, Mariarosaria
  40. Do College Admissions Criteria Matter? Evidence from Discretionary vs. Grade-Based Admission Policies By Kamis, Rais; Pan, Jessica; Seah, Kelvin
  42. Analisis Bisnis Penjualan Liquid Palsu di Shopee By Wiguna, I Made Surya
  43. Enhancing Profits and Incomes in Agriculture and Fisheries By Briones, Roehlano M.
  44. 한국의 지역별 개발협력 추진전략: 아시아 지역 ODA 지원 방안(Korea’s Regional Cooperation and ODA Policy in Asia: Performance and Challenges) By Yul, Kwon; Yun, Jeonghwan; Lee, Eunsuk; Lee, Ju Young; Yoo, Aila; Kim, Sung Hye
  45. The relationship between firms that start operating as unregistered and firms’ innovation: the moderating effect of access to finance By Sam Njinyah; Simplice A. Asongu
  46. Analysis of the 2023 President’s Budget By Diokno-Sicat, Charlotte Justine; Palomar, Robert Hector G.; Ruiz, Mark Gerald C.
  48. Dynastic Measures of Intergenerational Mobility By Olivier Bargain; Maria Lo Bue; Francesco Palmisano
  49. Những nhà khoa học xuất sắc thì cần được đầu tư mạnh mẽ hơn By Linh, Thùy
  50. Government in Business and on Board: The Good, the Bad or the Ugly? By Mindsponge, AISDL
  51. PRAKTIK KEBIJAKAN MONETER ISLAM By putri, Aulia ananda
  52. Fast and Sustainable Development in Digital Revolution: An Application of Kuznets Curve By Ly Dai Hung
  53. Dasar-Dasar Statistik Sosial By Rahimallah, Muhammad Tanzil Aziz
  54. Korean Economic and Industrial Outlook for 2022 By KIET, KIET
  56. Kerangka KerjaKebijakan Moneter Islam By putri, Aulia ananda
  57. External Debts and Trade Balance: An International Evidence By Ly Dai Hung
  58. Eswatini: Technical Assistance Report on Government Finance Statistics Mission (July 6-12, 2022) By International Monetary Fund
  59. Macroeconomic Determinants of Tourism Demand in Malaysia: A Markov Switching Regression Approach By Soh, Ann-Ni; Puah, Chin-Hong; Jong, Meng-Chang
  60. Resume Kerangka Kerja Kebijakan Moneter Islam By , Asniar
  61. InforMining: une étude approfondie des dynamiques d’informalisation dans la production mondiale de l’or: République Démocratique du Congo By Bikubanya, Divin-Luc; Geenen, Sara; Verbrugge, Boris
  62. Habibah ibrahim kasim (resume kelompok 6) By kasim, Habibah ibrahim
  63. Interaction between Financial Economy and Real Economy By Ly Dai Hung
  64. Resensi buku perjanjian baru By sremere, Mariana
  65. The Emergence of African Continental Free Trade Area Agreement and Lessons from the Asia-Pacific Trade Agreement By Igbatayo, Samuel
  66. 국제사회의 부동산 보유세 논의 방향과 거시경제적 영향 분석(The Policy Direction of International Organizations on Immovable Property Tax and Its Impact on the Macro Economy) By Jeong, Young Sik; Kang, Eunjung; Lee, Jinhee; Kim, Kyunghun; Kim, Jeehye
  67. A model-free approach to continuous-time finance By Henry Chiu; Rama Cont
  68. A multi-group analysis of the impact of lean manufacturing practices on operational performance: Does the national culture matter? By , Le Nguyen Hoang
  69. Urban pollution: A global perspective By Rainald Borck; Philipp Schrauth
  70. InForMining: un estudio profundo de la informalidad en la producción global del oro: Perú By Robles Mengoa, Eugenia; Geenen, Sara; Verbrugge, Boris; López Valverde, Rafael

  1. By: Christine Lewis; Cristiana Vitale; Rosamaria Bitetti; Auxentius Andry Yudhianto; Javier Terrero-Davila
    Abstract: Appropriately designed Product Market Regulation (PMR) is essential to enhance productivity, boost economic growth and increase welfare. Regulation is needed to address market failures and guarantee the health and safety of consumers. However, by limiting the entry and expansion of firms, a too stringent regulatory environment can hinder an efficient allocation of resources both within and across industries. This paper provides a detailed review of PMR in Indonesia and analyses the country’s performance in this area relative to OECD countries, other G-20 members and regional peers. To do so, it relies on the OECD’s PMR Indicators, which have been recently compiled for Indonesia. These indicators assess the extent to which the regulatory framework of a country is competition-friendly across a range of sectors and regulatory areas. The analysis reveals that PMR in Indonesia is less conducive to competition than in most OECD countries. The scope for improvement is particularly great in areas such as barriers in network sectors, command-and-control regulation, public procurement, the governance of State-owned Enterprises (SOEs) and the extent to which the impact on competition is assessed when designing new regulation. The paper proposes concrete policy measures to align the regulatory environment of Indonesia with that of best performing countries.
    Keywords: Competition, Governance of State-Owned Enterprises, Indonesia, Product Market Regulation, Productivity, Professional Services, Public Procurement, Regulation
    JEL: D24 D4 H57 K23 K32 L1 L2 L3 L4 L5 L6 L7 L8 L9 O53
    Date: 2022–12–16
  2. By: KWAK, Sungil (KOREA INSTITUTE FOR INTERNATIONAL ECONOMIC POLICY (KIEP)); BEAK , Yong-Hun (DANKOOK UNIVERSITY); LEE, Han-Woo (Sogang University); Lê , Quốc Phương (Vietnam Industry and Trade Information Center); Vũ, Mạnh Lợi (Vietnam Academy of Social Sciences (VASS)); Nguyễn , Thị Thanh Huyền (Hanoi National University)
    Abstract: Korea and Vietnam have achieved remarkable outcomes of cooperation over the past 30 years since establishing diplomatic relations in December 1992. The rapid expansion of cooperation between the two countries is due to their geographical, historical, and cultural similarities and commonalities. Vietnam and Korea are both traditionally agricultural countries that have grown rice since ancient times, and have been influenced by Confucianism. In addition, Korea and Vietnam, which have inherited abundant cultural heritages thanks to their long history, have strong national pride. In particular, many Vietnamese scholars often take Korea as an example when discussing improving national industrial strategies and infrastructure, given that Korea has overcome the ruins of the Korean War and Vietnam is growing over the scars of the Vietnam War. However, since Vietnam joined the WTO in 2007, cooperation between the two countries has been mainly led by the economic sector. As economic cooperation strengthened, the two countries fell into the illusion that they knew each other well. Delusions often lead to unnecessary misunderstandings. A representative example is the dissatisfaction of Koreans with Vietnam’s quarantine response in the early stages of the 2020 COVID-19 outbreak. Vietnam regarded quarantine as a war situation and controlled it with strong discipline, but foreigners, including Koreans, did not understand this social trend. It was a misunderstanding that could have been avoided if Koreans were a bit more aware about Vietnam’s quarantine situation and culture, and conversely, Vietnamese knew better about Korean society and culture. This study analyzes the performance of cooperation in the economic, social, and cultural sectors over the past 30 years and seeks ways to enhance cooperation in the social and cultural sectors, which are relatively less successful than the economic sector. This is because the sustainable development of their bilateral relations requires not only economic cooperation but also “softpower” cooperation in social and cultural sectors. (the rest omitted)
    Keywords: 경제협력; 경제관계; economic cooperation; economic relations
    Date: 2021–12–30
  3. By: Mie Oba (Kanagawa University)
    Abstract: This paper aims to clarify the role of Japan in the process leading up to the establishment of the Regional Comprehensive Economic Partnership (RCEP). While emphasising that respect for the centrality of the Association of Southeast Asian Nations (ASEAN) was a principle of RCEP, Japan played a leading role in the process of RCEP negotiations. For Japan, RCEP is one of the fruits of its strategy in East Asia/Asia-Pacific that began the mid-1990s to protect and increase the interests and advantages of Japanese business and retain Japan’s political leverage in the region. When substantial negotiations for RCEP began in 2013, its importance for Japan was secondary to other free trade agreements (FTAs) including the Trans-Pacific Partnership, China–Japan–Korea FTA, and Japan–European Union FTA. However, the Government of Japan and the business community had set a lot of economic and strategic goals in promoting RCEP. After the withdrawal of the United States (US) from the Trans-Pacific Partnership, RCEP was seen as an essential framework for establishing a rules-based regional order in the Indo-Pacific region. Although it was after India’s withdrawal from the RCEP negotiations, Japan further emphasised the importance of RCEP as the measure to sustain and foster the rule-based regional order and simultaneously pursued the conclusion of negotiations and the establishment of high-level rules, achieving some success. Ultimately, the havoc brought about by the coronavirus disease (COVID-19) pandemic and the sense of crisis in the traditional liberal international order caused by the intensifying strategic competition between the US and China, drove the conclusion of RCEP. RCEP will be increasingly important for economic order in Japan and Asia in the coming years. Ironically, as the strategic competition between the US and China escalates and leads to a surge in protectionism, the economic and strategic importance of RCEP – an FTA that incorporates China – is becoming more significant as a measure to counter unilateralism and protectionism. In addition, RCEP needs elements that address globalisation’s adverse effects and pitfalls, in areas such as the environment, labour rights, and a reduction in the disparity between the rich and poor.
    Keywords: Japan; RCEP; TPP; CJK FTA; Rule-based order; Regionalism
    JEL: F15 F53 F55
    Date: 2022–10–24
  4. By: Fusanori Iwasaki (Economic Research Institute for ASEAN and East Asia (ERIA)); Keita Oikawa (Economic Research Institute for ASEAN and East Asia (ERIA))
    Abstract: This paper aims to understand how the Economic Research Institute for ASEAN and East Asia (ERIA), an international organisation established under the East Asia Summit framework in 2008, contributed to negotiations for the Regional Comprehensive Economic Partnership (RCEP) agreement. Previous international relations studies have analysed the functions of international institutions, such as providing specialist information, skills, and knowledge, and helping states with international policymaking. In light of the functions of international institutions that the previous studies identified, we examine ERIA’s activities in support of the RCEP and their changing characteristics at each phase of the negotiating process: (i) before the launch of negotiations, (ii) during the early stage of negotiations, (iii) during the later stage of negotiations, and (iv) during the implementation phase after conclusion of the agreement. We show that ERIA studied the economic impact and feasibility of implementing the RCEP in the 16 countries participating in the RCEP negotiations before the negotiation launch phase, providing a rationale for establishing the RCEP. In the early stage of negotiations, ERIA promoted ASEAN centrality, which is the key concept of the RCEP negotiations, through research asserting the importance of the ASEAN Economic Community (AEC) and the significance of the RCEP in realising the AEC. In the later stage of negotiations, ERIA expanded its scope of contribution to include more policy-oriented engagement with policymakers in the countries participating in the RCEP negotiations, exemplified by the establishment of ERIA’s Policy Design Department in 2016. The Policy Design Department provided technical support for preparing rules of origin and trade facilitation negative lists through capacity building programmes for RCEP negotiators in Cambodia and the Lao PDR. Even after the end of the RCEP negotiations, ERIA conducted capacity development programmes on RCEP issues in various fields (harmonised tariff nomenclature, rules of origin, and e-commerce). Throughout the four phases of the RCEP negotiating process, ERIA provided information-providing and decision-supporting functions. In line with the need for finalizing and implementing the RCEP, ERIA expanded its mission to include the specialist technical-providing function in the last phases.
    Keywords: International institution; Information-sharing; Regional integration; RCEP
    JEL: F53
    Date: 2022–10–24
  5. By: Sarah Shair-Rosenfield
    Abstract: Despite region-wide lessons learned from the SARS pandemic in 2003, country responses to the Covid-19 pandemic in East and Southeast Asia have been very diverse. Outcomes have also varied widely, with some of the world’s lowest per capita case and death rates in Taiwan and Vietnam and extremely high per capita case and death rates in Indonesia, the Philippines, and Malaysia. A common feature of many of these countries is their decentralized governance systems, most of which lack clear channels for coordination among different levels of government. I consider how government structure and political centralization shaped emergency response to the Covid-19 pandemic in East and Southeast Asia. While the quantitative analysis shows that weak coordination may actually exacerbate problems in executing decentralization when responding to the pandemic, a paired comparison of Indonesia and the Philippines suggests the drawbacks of a decentralized but uncoordinated system.
    Keywords: decentralization, emergency.
    JEL: H11 H23 H77 Q58
    Date: 2022–12
  6. By: Robles Mengoa, Eugenia; Geenen, Sara; Verbrugge, Boris; Besmanos, Beverly; López Valverde, Rafael
    Abstract: This paper is part of the project ‘InForMining: an in-depth study of informalization in global gold production’ funded by the Flemish Research Foundation (FWO) and supervised by Prof. Dr. Sara Geenen and Dr. Boris Verbrugge at the Institute of Development Policy (IOB), University of Antwerp, Belgium.2 The project has two main objectives: (1) to study informalization processes in the global gold production system and (2) to study their effects on workers. Responding to the first objective, we studied informalization as one of the structural trends characterizing global gold production. This resulted in the book Global Gold Production Touching Ground (Verbrugge & Geenen, 2020). In response to the second objective, we studied the question of informal labour in mining areas in three countries across three continents: Peru in Latin America, the Philippines in Asia and the Democratic Republic of Congo (DRC) in Africa. In this paper, we present the results of a survey carried out by PhD student Eugenia Robles Mengoa and the team of Bantay Kita in the Philippines. Bantay Kita is a coalition of social organizations dedicated to the transparency and accountability of extractive industries. The data were analysed by Eugenia Robles and consultant Rafael López.
    Keywords: mining, gold, Philippines
    Date: 2022–08
  7. By: Halim, Ismail
    Abstract: Resume singkat terkait penerapan sistem keuangan islam di indonesia bahkan dunia.
    Date: 2022–11–13
  8. By: Rahimallah, Muhammad Tanzil Aziz (Sulawesi Barat University)
    Abstract: Kemunculan Covid-19 atau virus Corona memiliki fakta telah menyebar di 118 negara dan menginfeksi puluhan juta manusia dan per Oktober 2020 sudah menyebabkan kematian sekitar 1 juta jiwa. WHO pun sudah menyatakan Covid-19 adalah bagian dari pandemi global. Dikatakan pandemi karena tingkat keparahan penyakit, jumlah korban atau infeksi yang terletak pada penyebaran geografisnya yang mengacu penyebarannya pada negara atau benua. Jika, pandemi ini masih terjadi dan berkembang, pastinya akan mengganggu seluruh lini publik, perekonomian negara, dan pangan yang terjangkit pandemi, khususnya Indonesia. Semenjak pandemi, perekonomian Indonesia mengalami pertumbuhan negatif, sektor publik juga mengalami penurunan, ditambah ketersedian pangan di Indonesia tidak stabil, dikarenakan tidak adanya pasokan pangan untuk memenuhi 267 juta penduduk Indonesia. Mengingat Indonesia adalah penghasil bahan pangan, sayuran, buah-buahan, umbi-umbian, terutama beras. Kejadian ini yang menjadi fokus, jika dikemudian hari mengalami bencana yang tidak terduga dan persiapan dalam menghadapi masa krisis apa pun bentuknya, maka Indonesia harus menghadapi tantangan menuju ketahanan pangan. Pada artikel ini disarankan perlu dilakukan penyesuaian arah kebijakan pembangunan ketahanan pangan, khususnya dalam menetapkan tujuan, memilih cara mencapai tujuan dan menentukan sasaran ketahanan pangan nasional Indonesia.
    Date: 2020–12–26
  9. By: Arief, A. Anggie Zabrina
    Abstract: Otoritas moneter adalah suatu entitas yang memiliki wewenang untuk mengendalikan jumlah uang yang beredar pada suatu negara dan memiliki hak untuk menetapkan suku bunga dan parameter lainnya yang menentukan biaya dan persediaan uang. Sejak dikeluarkannya UU Bank Indonesia tahun 1999, Bank Indonesia telah diberi amanah sebagai otoritas moneter yang dapat menjalankan kebijakan moneter konvensional maupun syariah.
    Date: 2022–11–13
  10. By: Wiratama, Ida Bagus Gede Aditya
    Abstract: Penelitian ini dilakukan dengan tujuan untuk menganalisa proses jual beli yang biasanya dilakukan secara online melalui aplikasi E-Commerce. Karena semakin banyak masyarakat indonesia yang menggunakan aplikasi E-Commerce, maka pemerintah membuat regulasi terkait PP PMSE yang ditetapkan tahun 2019. Penelitian ini dilakukan dengan tujuan untuk mengetahui apakah masih ada bisnis usaha yang tidak mengikuti PMSE. Peraturan Pemerintah. Penelitian ini lebih fokus pada bisnis usaha yang menjual produk hp kw (barang tiruan) pada aplikasi Shopee. Penelitian ini menggunakan metode yaitu metode Eksperimental terkait aturan perdagangan, mengumpulkan data pada platform E-Commerce Shopee, membaca dan mencatat hasil barang yang di beli oleh pembeli. Penelitian ini menunjukkan hasil bahwa masih terdapat pelaku usaha yang tidak mengikuti aturan perdagangan tersebut. Hasil dari ditemukannya pelaku usaha yang melakukan kecurangan pada E-Commerce Shopee adalah pelaku usaha ini menjual hp tiruan dengan harga yang sangat murah dari harga aslinya dan hp yang dijual tidak sesuai dengan keterangan spesifikasi yang ada pada platform shopee.
    Date: 2022–11–11
  11. By: Quimba, Francis Mark A.; Moreno, Neil Irwin S.
    Abstract: Rapid digitalization has become an integral feature of the global economy in recent years, as markets became more connected and new modes of production and trade emerged. Having a relatively open digital environment, the Philippines is poised for digital trade integration with its Asia-Pacific neighbors. However, various measures must be taken for the country to be fully prepared for regional integration. Some of these are considered low-hanging fruits and can be quickly adopted by the government. This paper examined these low-hanging fruits in terms of their effects on the digital services trade. It conducted a two-stage regression of the gravity model of trade using data from various sources. This allowed for the estimation of country-specific characteristics in the presence of three-way fixed effects. Results show that the low-hanging fruits generate heterogenous effects on digital services trade. Ratifying the revised WTO Agreement on Government Procurement (GPA) is positively associated with digital services trade, despite an earlier version having negative effects. Data retention requirements and online piracy have both positive and negative effects, while the effects of local loop unbundling were inconclusive. Overall, data retention was more facilitative, while online piracy had greater adverse effects on the digital services trade. These findings suggest the importance of acceding to the GPA, revising the conditions of data retention requirements, strengthening copyright enforcement, and providing additional channels for promoting legal content. Comments to this paper are welcome within 60 days from the date of posting. Email
    Keywords: digital services trade;WTO GPA;local loop unbundling;data retention policy;copyright enforcement
    Date: 2022
  12. By: Debuque-Gonzales, Margarita; Corpus, John Paul P.; Miral, Ramona Maria L.
    Abstract: This paper, which will be released as the lead chapter of the 2021–2022 PIDS Economic Policy Monitor, reviews the Philippines’ macroeconomic performance in 2021 and the first half of 2022, analyzes recent developments and challenges shaping the economy’s near-term outlook, and presents macroeconomic projections for 2022 and 2023. With the country’s sustained economic reopening, the analysis suggests that GDP growth may grow by about 7.1 percent, but economic activity may weaken in 2023 as the global economic environment deteriorates. Inflation will likely continue to be elevated in 2022 but may still fall within the central bank’s target range in 2023. The economic outlook features significant challenges and downside risks, including persistently high inflation, an uncertain business environment, and a possible downturn in the world’s major economies. The paper ends by outlining what the authors believe should count among the government’s key priorities in steering the economy through these headwinds. Comments to this paper are welcome within 60 days from the date of posting. Email
    Keywords: Philippine economy;growth;inflation;forecast
    Date: 2022
  13. By: Nguyen Hong Son; Ly Dai Hung (Vietnam Institute of Economics, Hanoi, Vietnam)
    Abstract: The paper investigates the macroeconomic resilience of Vietnam economy toward external shocks. The research method combines qualitative analysis, using literature review to shed a light on current economy, with quantitative analysis, using a time-series sample of Vietnam over 1990-2021. The results record that the Vietnam economy can absorb the external shocks by a quite rapid recovery and stable economic growth over time. The external shocks, however, usually cause changes in growth orbit and associated undermine potential macroeconomic instability. Therefore, the public policy architecture needs to improve the macroeconomic resilience to translate the external shocks into the macroeconomic stability in the coming years.
    Keywords: Resilience,External Shocks,Vietnam,E41,F36,E22
    Date: 2022–10
  14. By: Ly Dai Hung (Vietnam Institute of Economics, Hanoi, Vietnam)
    Abstract: The paper investigates the structure of inflation in the Vietnam economy, as a developing economy with a strong record of low inflation and high economic growth rate over recent years, even during the recent Covid-19 pandemic. Methodology: The paper uses a quantitative analysis which investigates the quarterly dataset of inflation for the Vietnam economy over 1990-2021. The inflation is decomposed into three main components including core inflation, energy inflation and food inflation. Findings: The evidence records that the main driver of inflation in the Vietnam economy is the food inflation. Moreover, both energy and food inflation tends to have a large deviation over time. This illustrates the impact of the world commodity market on domestic inflation. The core inflation, however, is quite stable over time, reflecting the effectiveness of monetary policy in the Vietnam economy. Implications: The results implies that the food inflation can be a prioritized objective for the Vietnam economy to stabilize the domestic inflation. Moreover, the monetary policy, which affects the core inflation, needs to be combined with the fiscal policy, which affects the energy inflation.
    Keywords: Inflation Rate,Economic Growth,Pandemic,Quantitative Analysis,Qualitative Analysis,Vietnam economy
    Date: 2022–08
  15. By: Ly Dai Hung (Vietnam Institute of Economics, Hanoi, Vietnam)
    Abstract: The paper investigates the term structure of foreign direct investment into Vietnam economy by dividing the short-term, medium-term and long-term contribution on the domestic economic growth. The data is an annual sample of Vietnam economy over 2007-2021. The empirical evidence records that the foreign direct investment stimulates the domestic economic growth by promoting the net exports in the medium-term and by the capital accumulation process in the long-term. In the short-term, the foreign direct investment also provides the foreign currency, which affect directly the equilibrium foreign exchange rate. Therefore, the foreign direct investment is a crucial growth engine for the Vietnam economy. The evidence suggests that the foreign direct investment can be a priority for the public policy to enhance the domestic economic growth rate. Beside the domestic sector, including the state-owned firms and private firms, the foreign direct investment needs to be managed so that its contribution to domestic economic growth is maximized.
    Date: 2022–11
  16. By: Halim, Ismail
    Abstract: Resume singkat tentang kerangka kerja kebijakan ekonomi moneter islam di indonesia.
    Date: 2022–11–19
  17. By: , Sandyawan
    Abstract: Dalam setiap kebudayaan selalu terdapat ilmu pengetahuan atau sain dan teknologi, yang digunakan sebagai acuan untuk menginterpretasikan dan memahami lingkungan beserta isinya, serta digunakan sebagai alat untuk mengeksploitasi, mengolah dan memanfaatkannya untuk pemenuhan kebutuhan manusia. Kredit Pintar adalah aplikasi yang menyediakan layanan pinjaman uang online untuk mendukung inklusi keuangan dengan nama badan usaha PT. Kredit Pintar Indonesia yang telah berdiri sejak tahun 2018. Kredit Pintar telah terdaftar dan diawasi oleh OJK, sehingga dinyatakan sebagai penyedia layanan pinjaman uang online yang resmi beroperasi di Indonesia.Memilih pinjaman online terpercaya membutuhkan ketelitian dan kecermatan. Sebagai pencari dana, wajar kiranya jika membandingkan satu layanan dengan layanan lain untuk memperoleh pinjaman bunga paling rendah dan menguntungkan. Salah satu layanan yang dapat kita pilih dalam memenuhi kebutuhan keuangan ialah pinjaman Kredit Pintar. Saat ini Kredit Pintar tidak hanya menjadi trend pinjam meminjam saja namun telah berdampak terhadap perekonomian dan mendorong terciptanya jenis pembiayaan dan investasi bagi masyarakat di seluruh Indonesia. Jadi metode yang digunakan dalam penelitian ini adalah menggunakan metode 7C Framework.
    Date: 2022–11–29
  18. By: Fyngky, Fryza; Fyngky, Fryza; Fyngky, Fryza
    Abstract: Kebijakan pada umumnya merupakan suatu action masyarakat atau disebut juga dengan tindakan-tindakan masyarakat yang mengikat janji dengan orang lain atau sekelompok orang yang dapat merugikan orang lain bahkan negara sekali pun. Di Indonesia kolusi ini sering terjadi, mulai dari kalangan golongan bawah maupun golongan tertinggi sekalipun. Kolusi ini pada umumnya seperti menjadi budaya di Indonesia. Dari upaya pencegahan kolusi ini sebenarnya tidak menjamin 100% tercegahnya action kolusi tetapi setidaknya dengan adanya upaya tersebut dapat mengurangi kerugian-kerugian yang ada. Jenis penelitian ini menggunakan metode kepustakaan (libarsry research) yang dimana penelitian ini memiliki dua variable yaitu kebijakan dan penyelenggara pemerintahan.
    Date: 2022–11–29
  19. By: putri, Aulia ananda
    Abstract: Instrumen kebijakan moneter Islam tidak berbeda dengan tujuan kebijakan moneter secara umum, yaitu menjaga stabilitas dari mata uang (baik secara internal maupun eksternal), penciptaan instrumen keuangan yang terdiversifikasi, likuiditas, transparansi sistem keuangan, dan mekanisme pasar yang efektf sehingga pertumbuhan ekonomi yang diharapkan dapat tercapai. Dalam ekonomi Islam, tidak ada sistem bunga sehingga bank sentral tidak dapat menerapkan kebijakan discount rate tersebut. Bank Sentral Islam memerlukan instrumen yang bebas bunga untuk mengontrol kebijakan ekonomi moneter dalam ekonomi Islam. Dalam hal ini, terdapat beberapa instrumen bebas bunga yang dapat digunakan oleh bank sentral untuk meningkatkan atau menurunkan uang beredar. Penghapusan sistem bunga, tidak menghambat untuk mengontrol jumlah uang beredar dalam ekonomi. Adapun instrumen - instrumen tersebut ialah: 1. Giro wajib minimum 2. Fasilitas pembiayaan dan simpanan 3. Operasi pasar terbuka 4. Transaksi Repo syariah 5. Sertifikat Investasi Mudharabah Antarbank (SIMA) 6. Sertifikat Perdagangan Komoditi Berdasarkan Prinsip Syariah Antarbank(SiKA) 7. Sertifikat Pengelolaan Dana Berdasarkan Prinsip Syariah Antarbank (SiPA) 8. Reserve Repo SBSN 9. Pengelolaan Likuiditas Berdasarkan Prinsip Syariah Bank Indonesia (PaSBI) 10. Surat Berharga Syariah Negara (SBSN)
    Date: 2022–11–30
  20. By: Wiratama, Ida Bagus Gede Aditya
    Abstract: Penelitian ini dilakukan dengan tujuan untuk menganalisa proses jual beli yang biasanya dilakukan secara online melalui aplikasi E-Commerce. Karena semakin banyak masyarakat indonesia yang menggunakan aplikasi E-Commerce, maka pemerintah membuat regulasi terkait PP PMSE yang ditetapkan tahun 2019. Penelitian ini dilakukan dengan tujuan untuk mengetahui apakah masih ada bisnis usaha yang tidak mengikuti PMSE. Peraturan Pemerintah. Penelitian ini lebih fokus pada bisnis usaha yang menjual produk hp kw (barang tiruan) pada aplikasi Shopee. Penelitian ini menggunakan metode yaitu metode Eksperimental terkait aturan perdagangan, mengumpulkan data pada platform E-Commerce Shopee, membaca dan mencatat hasil barang yang di beli oleh pembeli. Penelitian ini menunjukkan hasil bahwa masih terdapat pelaku usaha yang tidak mengikuti aturan perdagangan tersebut. Hasil dari ditemukannya pelaku usaha yang melakukan kecurangan pada E-Commerce Shopee adalah pelaku usaha ini menjual hp tiruan dengan harga yang sangat murah dari harga aslinya dan hp yang dijual tidak sesuai dengan keterangan spesifikasi yang ada pada platform shopee.
    Date: 2022–11–27
    Abstract: 기후변화 위기에 대처하기 위한 국제사회의 논의가 지속되는 가운데 탄소 배출 순위 세계 8위, 아세안 1위인 인도네시아는 COP26에 2030년까지 무조건 29%, 조건 41%의 국가온실가스감축안(NDC: Nationally Determined Contribution)을 제출하고, 탄소 중립 달성 기한을 2060년으로 발표한 바 있다. 인도네시아는 한국 신남방정책의 핵심 파트너로 한국의 K-뉴딜 글로벌화 전략을 통해 마이크로그리드 유망시장으로 선정된 바 있으나, 인도네시아의 탄소 중립 정책을 참고한 포괄적인 협력 정책은 아직 마련되지 못한 상황이다. 이에 본 연구는 인도네시아의 탄소 중립 관련 정책 및 국제협력 현황에 대한 분석을 기반으로 한국·인도네시아 탄소 중립 협력 방향을 제시했다.(the rest omitted) <p> While the international community has been engaged in dialogue on countermeasures to climate change by global warming, Indonesia, which ranked 8th in the world in Co2 emissions and top in ASEAN, has submitted its nationally determined contribution (NDC) targets of unconditional reduction of 29% and conditional reduction of 41% by 2030, and announced the net zero target by 2060. Indonesia is a core partner of Korea’s New Southern Policy and has been identified as a promising market for micro-grid projects in the K-New Deal Globalization Strategy, but as of yet no comprehensive strategy has been established that takes into account Indonesia’s net zero policy. To address this gap, this paper examines and suggests policy directions for cooperation with Korea’s Green New Deal, based on an analysis of Indonesian policies related to carbon neutrality and the current status of international cooperation in Indonesia. Indonesia had submitted a NDC target of unconditional reduction of 29%, conditional reduction of 41% by 2030, and has been implementing a series of policies in various areas, for example finance, technical assistance, capacity building, etc. Indonesia is coordinating its NDC targets and the local adaption and mitigation policies through the Long-Term Strategy for Low Carbon and Climate Resilience (LTS-CCR) 2050. In addition, a series of policies in the areas of environment Executive Summary • 105protection, renewable energy, reforestation, and waste management had been introduced in the National Medium Term Development Plan (RPJMN) for 2020-2024. The National Energy Policy(KEN), which is the major initiative for Co2 emission mitigation, pursues to change the energy consumption structure by increasing the share of renewable energy instead of fossil fuels. The National Energy Plan(RUEN) is a set of multi-sectoral policies to implement the targets of KEN. The National Electricity Plan(RUKN) is the core plan of RUEN, in line with which the country has been implementing the structural change of nationalelectricity generation by increasing the share of renewable energy(12%→28%) and decreasing the share of fossil fuels(60%→47%)(the rest omitted)
    Keywords: 환경정책; 에너지산업 environmental policy; energy industry
    Date: 2022–03–30
  22. By: Hai-Anh Dang (World Bank); Minh Do (Vietnam National University, Hanoi)
    Abstract: Despite a sizable population and modest status as a low-middle-income country, Vietnam has recorded a low COVID-19 fatality rate that rivals those of richer countries with far larger spending on health. This paper offers an early review of the emerging literature in public health and economics on the pandemic effects in Vietnam, with a specific focus on vulnerable population groups. The review suggests that vulnerable workers were at more health risk than the general population. The pandemic reduced household income, increased the poverty rate, and worsened wage equality. It increased the proportion of below-minimum-wage workers by 2.5 percentage points (i.e., a 32-percent increase). While government policy responses were generally regarded as effective, public support for these responses was essential for this success, particularly where there was stronger public participation in the political process. The review also indicates the need for a social protection database to identify the poor and informal workers to further enhance targeting efforts. Finally, it suggests future directions for research in the Vietnamese context.
    Keywords: COVID-19, health, vulnerable households, poverty, inequality, Vietnam
    JEL: D00 H00 I1 I3 O1
    Date: 2022–11
  23. By: Masahito Ambashi (Institute of Economic Research, Kyoto University); Fusanori Iwasaki (ERIA); Keita Oikawa (ERIA)
    Abstract: In this study, we analyze how economic shocks affect six ASEAN Member States-Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam-in three dimensions: global, domestic, and uncertainty shocks. We collect macroeconomic indicators for 1990-2021 and calculate macroeconomic shocks based on the prediction errors of real GDP growth rates. First, we demonstrate that countries were significantly subjected to unforeseen negative economic shocks on average. Second, we show high synchronization of economic fluctuations and shocks within these countries and with the world. Third, by conducting regression analyzes separately, we derive the following: (i) positive association between variations of the global real GDP growth rates and countries' economic shocks; (ii) different quantitative significance of previous estimates among countries; (iii) country-specific domestic shocks; and (iv) correlation of global- and country-level uncertainty indices with negative economic shocks in some AMS. Our results highlight the relative importance of global, domestic, and uncertainty shocks in the AMS as 56.3%, 39.6%, and 2.8%, respectively. Finally, based on this dataset and conducted analysis, we also review the effect of the COVID-19 pandemic on these countries.
    Keywords: Prediction error; Economic shock; Uncertainty; Business cycle synchronization
    JEL: E32 F44 N15
    Date: 2022–12
  24. By: Ly Dai Hung (Vietnam Institute of Economics, Hanoi, Vietnam)
    Abstract: The paper investigates the jointly dynamics of international trade cycle and financial cycle in the Vietnam economy. The data is a time-series sample of Vietnam economy over the 1995-2021 time period. And the research objective is to analyze the co-movement of foreign trade and financial cycle, incorporating the recent Covid-19 pandemic. Methodology: The research methodology combines both qualitative analysis with quantitative one. In particular, the qualitative analysis reviews the recent literature on the global trade and financial cycle, with a focal point on the developing economies. Then, the quantitative analysis considers the time-series analysis of Vietnam economy, as one typical small open economy. Findings: The global trade and financial cycle are considered as a central role within the current international monetary system. The trade cycle can be effective in the short and medium term while the financial cyle exists for a longer term. In the Vietnam economy, the trade and financial cycle co-moves closedly, especially during the time period of structural break such as Covid-19 pandemic. Implications: The results uncover that the public policy needs to be adjusted according to the points in the global trade and financial cyle. The policy at the peak of cycle can be tightened while the policy at the trough of cycle needs to be expanded. And the policy at both the peak and trough needs to be accompanied with an excellent communication to the whole economy.
    Keywords: Global Trade Cycle,Financial Cycle,Quantitative Analysis,Qualitative Analysis,Vietnam economy
    Date: 2022–09
  25. By: Heiduk, Felix; Wilms, Tom
    Abstract: Ferdinand "Bongbong" Marcos Jr. won the Philippines' presidential election by a landslide on 9 May and was officially sworn in on 30 June. During the election campaign, Marcos Jr. - the son of Philippine dictator Ferdinand Marcos Sr. who was ousted in 1986 - remained extremely vague when it came to describing his foreign and security policies. Some observers initially speculated that Marcos Jr. would continue to pursue the foreign policy shift towards the People's Republic of China that had been established by his predecessor Rodrigo Duterte. Several weeks into Marcos Jr.'s presidency, however, a much more nuanced picture has emerged. It appears that the newly elected president is likely seeking to balance the Philippines' relations with China and the US to a greater extent than his predecessor. He therefore seems to be following in his father's foreign policy footsteps. This could open up new opportunities for cooperation between the Philippines and Germany and the EU - provided that such collaboration considers the high degree to which Manila's current foreign policy agenda seems to be driven by domestic concerns and objectives.
    Keywords: Philippine,foreign policy,presidential elections,Ferdinand Marcos Jr.,Rodrigo Duterte,Southeast Asia,Indo-Pacific,China,US,EU
    Date: 2022
  26. By: Mansur, Mansur; Dr. Erny Rachmawati, MM; , Caroline; Pratama, Fidya Arie
    Abstract: Buku ini merupakan simbol semangat intelektual dalam mengakaji ilmu pendidikan yang terbit pada tahun 2021. Kontributor dari buku ini adalah para peneliti dan dosen dari berbagai kampus di Indonesia. Mereka memiliki latar belakang pendidikan yang berbeda. Penulisan buku ini dilandasi atas pentingnya update penelitian terbaru tentang kajian ilmu kewirausahaan dengan tema “Teori dan Konsep Kewirausahaan”. Buku ini terdiri dari 169 artikel yang dimasukan ke dalam 16 bab di dalam buku ini. Upaya penyusunan buku ini dilakukan untuk mendokumentasikan karya-karya yang dihasilkan para penulis sehingga dapat bermanfaat bagi pembaca secara lebih luas. Penulisan buku juga mengandung konsekuensi untuk membangun budaya perusahaan dan pendidikan Indonesia yang lebih bermartabat dan berintegritas. Sebagai penutup, tiada gading yang tak retak. Tentunya banyak kekurangan dalam penyusunan buku ini sehingga kritik dan masukan selalu diperlukan bagi pengembangan studi ilmu akuntansi baik secara teori maupun implementasinya. Hal-hal yang besar tentunya berawal dari yang sederhana. Semoga tulisan-tulisan dalam buku ini menjadi ilmu yang bermanfaat bagi pengembangan organisasi hari ini dan esok.
    Date: 2021–12–29
  27. By: Satyarini, Mirah
    Abstract: Zaman sekarang di era yang sudah digital ini. Perkembangan teknologi sudah berkembang dengan sangat pesat. Seperti masyarakat sudah mulai berbelanja melalui online shop. Tetapi terdapat sisi negative dari berkembang nya teknologi dengan pesat yaitu mudah nya melakukan pemalsuan terhadap dokumen, barang, ataupun yang lainnya. Permasalah yang akan dibahas yaitu: Bagaimana pengaturan hukum terhadap pemalsuan barang di Indonesia Dan Bagaimana cara membedakan barang yang asli dengan yang palsu. Metode yang digunakan yaitu metode studi pustaka dan metode analisis atau dokumentasi. Salah satu pemalsuaan yang saat ini terjadinya yaitu pemalsuan sepatu bermerek diantaranya nike, adidas, converse. Kasus pemalsuan sepatu merupakan kasus yang marak terjadi. Sanksi yang di dapat apabila ketahuan melakukan pemalsuan yaitu dapat di pidana penjara paling lama lima tahun dan membayar denda sebanyak dua miliyar rupiah. Maka dari itu kita sebagai masyarakat harus lebih teliti lagi dalam membeli barang melalui online shop atau offline store.
    Date: 2022–11–12
  28. By: Ly Dai Hung (Vietnam Institute of Economics, Hanoi, Vietnam)
    Abstract: The paper analyzes the reaction of an economy against the current covid-19 pandemic. The analysis covers many economies, both advanced and developing ones, with a focal point on the Vietnam economy. Methodology: The research method employs a quantitative analysis based on data analysis of Vietnam economy over 2010-2022, covering the current Covid-19 pandemic. Moreover, the method also uses a qualitative analysis based on reviewing the recent literature on the recovery of economies after the pandemic. Findings: The paper shows that the pattern of robustness is different across economies. Some economies experience a sharp reduction in economic growth with a substantial recovery while others have both a less decrease in economic growth but with slow recovery. Moreover, the pandemic also results in a more vulnerable economy against unexpected shocks. Implications: The government needs to provide a more stimulating fiscal package to enhance the robustness of an economy against the pandemic. In particular, the package can be oriented directly to low-income households, and small business firms.
    Keywords: Economic Robustness,Economic Growth,Pandemic,Quantitative Analysis,Qualitative Analysis,Vietnam economy
    Date: 2022–08
  29. By: Araba Sey (University of Washington Information School)
    Abstract: Gender-based cyber violence inhibits progress towards gender digital equality by discouraging women from participating in the digital economy. From the magnitude of the problem to its economic and social impacts, much remains to be understood about how women experience safety and security in the Association of Southeast Asian Nations (ASEAN) digital economy. Drawing on academic and grey literature, this paper reflects on the implications of gender-based cyber violence for digital equality and economic development. Overall, data are lacking on the prevalence, economic costs, and social impacts of gender-based cyber violence within ASEAN. Policy tends to focus more on measuring domestic and intimate partner violence, likely due to its designation as the main indicator for Sustainable Development Goal 5. Although a variety of national, regional, and global frameworks exist to address different dimensions of violence against women, cybersecurity, and workplace harassment, more work is needed to identify the scale and scope of gender-based cyber violence in the region, in order to target policy appropriately.
    Keywords: Cyber violence; Cybersecurity; Digital economy; Economic costs; Gender, women; ASEAN
    JEL: O53 J16 J18 J7 L86
    Date: 2022–12–13
  30. By: triyawan, andi
    Abstract: Buku ini adalah pemikiran yang berusaha untuk mengenalkan kepada pembaca konsep Islam yang berkaitan dengan ekonomi Internasional. Ilmu Ekonomi yang banyak dianut oleh manusia di seluruh Negara kebanyakan masih berkutat pada jiwa-jiwa kapitalisme yang bersifat individualis, materialis dan berusaha menghalalkan segala cara demi kekayaan duniawi. Lingkup yang dibahas dalam ekonomi internasional ini bersifat makro, sehingga banyak juga mengkaji kebijakan- kebijakan Negara. Dalam terdapat beberapa topik diantaranya Perdagangan Internasional dalam Pandangan Islam, Abu Ubaid dan Perdagangan Internasional, Perdagangan Internasional Dalam Pandangan Islam, Sejarah Perdagangan Internasional pada awal Islam, Al Hisbah Internasional, Mekanisme Pasar Menurut Ibnu Taimiyah, ACFTA – Pasar Bebas Dalam Pandangan Islam, Imbal Dagang dan Perdagangan Internasional, Dumping Dalam Pandangan Islam, Hedging Dalam Pandangan Islam. Pada edisi kedua ini terdapat bab yang menjelaskan mengenai perkembangan Wisata halal dibeberapa negara diantaranya Indonesia, Malaysia, Korea Selatan, Jepang. Semoga buku ini bisa menjadi sumbangsih pemikiran tentang Ekonomi Internasional dalam perspektif Islam yang belum ada selama ini.
    Date: 2021–05–31
  31. By: Upalat Korwatanasakul (Waseda University, Japan); Tran Thi Hue (Department of Global Human Studies, Faculty of Literature, Kobe Women’s University, Japan)
    Abstract: This study describes the status of global value chains (GVCs) in Viet Nam and examines the roles of GVC participation and technology in enhancing labour productivity in manufacturing firms. The estimation method is a panel fixed-effect regression employing unique firm-level data matching the Vietnam Technology and Competitiveness Survey and Vietnam Enterprise Survey, 2009–2018. The findings show the positive effect of backward GVC participation when considering firm GVC participation status (i.e. whether they engage with backward linkages). However, when accounting for GVC participation degree (i.e. GVC participation index), the results show a stark contrast, revealing the negative effect of backward GVC participation on labour productivity. The results, therefore, partly reject the learning-to-learn hypothesis. On the other hand, regardless of GVC indicators, forward GVC participation positively impacts labour productivity, confirming the views of learning-by-exporting and learning-by-supplying. The findings also suggest the significance of research and development, digital technology, and foreign investment in enhancing labour productivity. Therefore, policies promoting forward GVC participation should be the priority, while policies to promote backward GVC participation should be well designed and accompanied by policies that ensure technology transfer and domestic technology development to avoid the trap of a subordinate role.
    Keywords: Global value chain participation; Labour productivity; Learning by-exporting; Learning-to-learn; Viet Nam
    JEL: F13 F14 F16 O19 O24
    Date: 2022–10–28
  32. By: Heiduk, Felix
    Abstract: Since the Korean War of 1950-53, the security architecture of the region previously referred to as the 'Asia-Pacific' has been based on a US-led system of bilateral alliances known as the 'hub-and-spokes' system. A multilateral system of collective defence, similar to NATO in Europe, has not existed in the region. In 2014, the People's Republic of China under Xi Jinping began to develop its own ideas for reshaping the regional security system. Xi called the hub-and-spokes system a relic of the Cold War and called for a regional security architecture 'by Asians for Asians'. The 'Indo-Pacific' is widely regarded as a strategy to counter a Sinocentric restructuring of the region. The majority of actors involved conceives its security architecture as an antagonistic order in which security is established against, and not with, China. This architecture is more 'Asianised' than before. The region's US allies are gaining significance in relation to Washington. What's more, bilateral and minilateral partnerships outside the hub-and-spokes system are becoming increasingly important, for example those involving states such as India or Indonesia. Structurally, bilateral alliances and partnerships dominate. They are increasingly supplemented by minilateral formats such as AUKUS or the Quad. For the EU and its member states, all this means that realising the idea of an inclusive Indo-Pacific has become a distant prospect. The effective multilateralism propagated by the EU is also gradually falling behind as the regional security architecture is increasingly being transformed into a web of bilateral and minilateral cooperation formats.
    Keywords: Australia,India,Indonesia,USA,China,hub and spoke,ASEAN,Indo-Pacific,AUKUS,Quad,minilateral formats,security architecture
    Date: 2022
  33. By: Truong, Quang Hoan (Vietnam Academy of Social Sciences)
    Abstract: The term “value chain” refers to the whole production process of a good or service from the design and raw material processing to manufacturing and market services for the final customers. A global value chain (GVC) indicates production across multiple countries (Simola 2021). Wang et al. (2017) distinguish between simple and complex GVC activities and classify GVC participation in the following four activities: (i) export its domestic value added in intermediate exports used by a direct importing country to produce products for the importing country’s final consumption (simple GVC); (ii) export its domestic value added in intermediate exports used by a direct importing country to produce products for importing countries’ exports to third countries (complex GVC forward participation); (iii) importing foreign value added in intermediate imports to produce products for domestic use (simple GVC); (iv) importing foreign value-added in intermediate imports to produce products for its gross exports (complex GVC backward participation). Trade and foreign direct investment (FDI) are considered to be the main driving factors of Vietnam’s economic growth. However, Vietnam’s growth rates became substantially lower in the first decade of the 21st century and even lower after 2008, putting the country in high danger of falling into a middle-income trap (Nguyen and Truong 2022). Overcoming this huge challenge will require Vietnam to make greater progress in GVC participation, which can only be obtained by implementing the appropriate policy reforms and adjustments, particularly in FDI, trade, and industrial and institutional areas. In this regard, assistance and cooperation from Korea – an advanced economy, especially a top trade and FDI partner of Vietnam – would play a significant role in improving Vietnam’s GVCs participation. Against this backdrop, this study aims to examine Vietnam’s GVC participation. It then assesses the major challenges faced by Vietnam’s GVC participation. Based on this, the research draws relevant policy implications for Vietnam–South Korea (hereafter Korea) economic cooperation to improve Vietnam’s GVC participation in the following years.
    Keywords: Vietnam’s Global Value Chains Participation and Policy Implications; South Korea-Vietnam Economic Cooperation
    Date: 2022–09–15
  34. By: triyawan, andi
    Abstract: Economic growth became the topic of discussion that is important in the country's economy (Manzoor, et., al., 2019; Urbano, et. al, 2019; Susilawati, et, al, 2020). Economic growth is seen as the long-term macroeconomic problem, which has been seen as the benchmark for its economic development. Economic growth is a form of development of economic activities that increase the production of goods and services (Ivanović-Djukić, et, al. 2018; Sherwood, 2019). The main component of economic growth is the accumulation of capital, which covers all types of investment in the capital; population growth will contribute to the total labor force; and support the advancement of technology (Sukirno, 2015). Gross Domestic Product (GDP) is one of indicator for determining the country's economic state and development. GDP is the total value of final goods and services produced by all monetary units (Center Bureau of Statistics, 2021). The economy will grow if the total production of goods and services in a given year is higher than in the previous year. The economic growth rate of Indonesia's GDP fluctuates between 2014 and 2020.
    Date: 2022–03–29
  35. By: Yiu Lim Lui (Dongbei University of Finance and Economics); Jun Yu (Singapore Management University); Peter C. B. Phillips (Cowles Foundation, Yale University)
    Abstract: A heteroskedasticity-autocorrelation robust (HAR) test statistic is proposed to test for the presence of explosive roots in financial or real asset prices when the equation errors are strongly dependent. Limit theory for the test statistic is developed and extended to heteroskedastic models. The new test has stable size properties unlike conventional test statistics that typically lead to size distortion and inconsistency in the presence of strongly dependent equation errors. The new procedure can be used to consistently time-stamp the origination and termination of an explosive episode under similar conditions of long memory errors. Simulations are conducted to assess the finite sample performance of the proposed test and estimators. An empirical application to the S&P 500 index highlights the usefulness of the proposed procedures in practical work.
    Date: 2022–10
  36. By: Arika, Hidayati
    Abstract: The rapid growth of information and technology has made people take advantage of public services, especially in the field of land transportation. In the past, transportation orders had to step into base places that were usually far from where they lived, now it is enough to use online transportation service applications that are already available on mobile phones. Carryfy Indonesia is an application that functions for ordering across regions quickly, easily and safely and also to help its partners find passengers then provide the best service. Booking through the website makes it very easy for people to order transportation quickly and safely. This study aims to find out how to use the Carryfy web / application as a means of booking transportation with case studies on tourist visitors. This research uses descriptive research methods. Data obtained from the study documentation of the carryfy testimonial website. The results of this study show that carryfy has features found in The 7C Framework.
    Date: 2022–11–29
  37. By: Shi, Shuping (Macquarie University); Yu, Jun (Singapore Management University); Zhang, Chen (Singapore Management University)
    Abstract: The fractional Brownian motion (fBm) process is a continuous-time Gaussian process with its increment being the fractional Gaussian noise (fGn). It has enjoyed widespread empirical applications across many fields, from science to economics and finance. The dynamics of fBm and fGn are governed by a fractional parameter H ∈ (0, 1). This paper first derives an analytical expression for the spectral density of fGn and investigates the accuracy of various approximation methods for the spectral density. Next, we conduct an extensive Monte Carlo study comparing the finite sample performance and computational cost of alternative estimation methods for H under the fGn specification. These methods include the log periodogram regression method, the local Whittle method, the time-domain maximum likelihood (ML) method, the Whittle ML method, and the change-of-frequency method. We implement two versions of the Whittle method, one based on the analytical expression for the spectral density and the other based on Paxson’s approximation. Special attention is paid to highly anti-persistent processes with H close to zero, which are of empirical relevance to financial volatility modelling. Considering the trade-off between statistical and computational efficiency, we recommend using either the Whittle ML method based on Paxson’s approximation or the time-domain ML method. We model the log realized volatility dynamics of 40 financial assets in the US market from 2012 to 2019 with fBm. Although all estimation methods suggest rough volatility, the implied degree of roughness varies substantially with the estimation methods, highlighting the importance of understanding the finite sample performance of various estimation methods.
    Keywords: Fractional Brownian motion; Fractional Gaussian noise; Semiparametric method; Maximum likelihood; Whittle likelihood; Change-of-frequency; Realised volatility
    JEL: C12 C22 G01
    Date: 2022–11–22
  38. By: Brian McCaig; Nina Pavcnik; Woan Foong Wong
    Abstract: We investigate the long-term effects of export opportunities to a large destination market on multinational affiliates and domestic firms in a low-income host country. The US-Vietnam Bilateral Trade Agreement reduced US import tariffs on exports from Vietnam. Tariff reductions led to entry of foreign and private firms and to employment expansion in formal manufacturing, with foreign entrants contributing most to employment growth. State firms stall employment reallocation through slower contraction. Half of tariff-induced foreign entrant growth is post-entry and exporter-driven. Foreign entrants are from non-US sources, highlighting the importance of studying FDI from multiple source countries in a lower-income host.
    JEL: F13 F14 O14 O19
    Date: 2022–12
  39. By: Beckmann, Joscha; Comunale, Mariarosaria
    Abstract: This paper assesses the financial channel of exchange rate fluctuations for emerging countries and the link to the conventional trade channel. We analyze whether the effective exchange rate affects GDP growth, the domestic credit and the global liquidity measure as the credit in foreign currencies, and how global liquidity affects GDP growth. We make use of local projections in order to look at the shocks' transmission covering 11 emerging market countries for the period 2000Q1- 2016Q3. We find that foreign denominated credit plays an important macroeconomic role, operating through various transmission channels. The direction of effects depends on country characteristics and is also related to the policy stance among countries. We find that domestic appreciations increase demand regarding foreign credit, implying positive effects on investment and GDP growth. However, this is valid only in the short-run; in the medium-long run, an increase of credit denominated in foreign currency (for instance, due to appreciation) decreases GDP. The financial channel works mostly in the short run except for Brazil, Malaysia, and Mexico, where the trade channel always dominates. Possibly there is a substitution effect between domestic and foreign credit in the case of shocks in exchange rates.
    Keywords: emerging markets,financial channel,exchange rates,global liquidity
    JEL: F31 F41 F43 G15
    Date: 2021
  40. By: Kamis, Rais (National University of Singapore); Pan, Jessica (National University of Singapore); Seah, Kelvin (National University of Singapore)
    Abstract: This paper examines the implications of college admissions criteria on students' academic and non-academic performance in university and their labor market outcomes. We exploit a unique feature of the admissions system at a large university that has two admission tracks – a regular admission track where admission is based exclusively on academic performance and a discretionary admission (DA) track where applicants can instead gain admission on the basis of demonstrated non-academic qualities. Comparing students admitted through each track, we find that DA students fare similarly in terms of academic performance in university as marginal students admitted through the regular route. However, they are significantly more likely to be involved in optional academic and non-academic college activities and earn substantially higher labor market earnings up to three years after graduation. These results are not driven by the DA process differentially selecting students on the basis of family background or unobserved academic ability.
    Keywords: college selection, higher education, non-academic skills
    JEL: I21 I23 J31
    Date: 2022–11
  41. By: putri, Aura
    Abstract: Peredaran penjualan bajakan merupakan tindakan ilegal yang umum di kalangan pecinta buku yang ingin mendapatkan buku dengan harga lebih murah. Peredaran buku bajakan ini juga cukup marak ditemukan di salah satu e-commerce yaitu Shopee. Dikarenakan Koleksi bukunya sangat lengkap, Anda dapat menemukan buku yang Anda inginkan dengan cepat, dan harganya lebih murah dari buku aslinya. Metode yang digunakan untuk proses pengumpulan data dalam pembuatan jurnal ini adalah deskriptif. Penelitian deskriptif adalah penelitian yang bertujuan untuk membuat deskripsi atau gambaran tentang fakta-fakta, sifat-sifat dan hubungan antar fenomena yang diteliti yang memegang peranan yang sangat penting bagi manusia. .Dalam penggunaan E-commerce khususnya Shopee memegang peranan sangan penting pada zaman yang serba digital seperti sekarang ini, hampir semua orang sudah beralih menggunakan aplikasi berbasis digital untuk mempermudah segala kegiatan contohnya berbelanja online untuk membeli semua kebutuhan yang diperlukan di E-commerce Shopee. Pada jaman sekarang masyarakat sudah mulai beralih menggunakan dan mengatur segala aktivitasnya dengan cara digital (online ). Sudah semakin berkurang masyarakat yang melakukan beberapa kegiatan secara langsung contohnya berbelanja ke pasar aatu sebuah toko, tapi dengan adanya kecanggihan dari teknologi saat ini masyarakat sudah beralih memanfaatkannya karena lebih mudah dan praktis seperti berbelanja di E-commerce Shopee, disana para pelanggan dapat melakukan berbagai transaksi mulai dari membeli makanan, pulsa, membayar hutang, membeli segala keperluan sehari-hari dan masih banyak lagi.
    Date: 2022–11–21
  42. By: Wiguna, I Made Surya
    Abstract: E-commerce Shopee digunakan melakukan aktivitas belanja dimana dan kapan saja serta mempunyai fintech pembayaran Shopeepay. Aplikasi shopee menghasilkan sistem belanja yang sesuai dengan kebutuhan penggunanya pada kalangan remaja maupun dewasa. Tidak menutup kemungkinan pada masyarakat senior juga menggunakannya.1 Saat ini teknologi berkembang pesat. Interaksi jual beli yang biasanya dilakukan secara langsung kini dapat dilakukan secara online melalui aplikasi E-Commerce. Karena semakin banyak masyarakat yang menggunakan aplikasi E-Commerce, maka pemerintah membuat regulasi terkait PP PMSE yang ditetapkan tahun 2019. Artikel ini dilakukan dengan tujuan untuk mengetahui apakah masih ada pelaku usaha yang tidak mengikuti PMSE. Peraturan Pemerintah. Penelitian ini lebih fokus pada pelaku usaha yang menjual produk buku dan juga software aplikasi pada aplikasi Shopee. Penelitian ini menggunakan tiga metode yaitu melakukan studi literatur terkait PP PMSE, menjajaki platform E-Commerce, melakukan wawancara dengan pembeli atau pembaca buku dan pembuat buku. Penelitian ini menunjukkan hasil bahwa masih terdapat pelaku usaha yang tidak mengikuti PP PMSE tersebut. Implikasi dari ditemukannya pelaku usaha pada E-Commerce Shopee yang tidak mengikuti PP PMSE adalah penelitian selanjutnya dapat melakukan penelitian pada platform E- Commerce lain, misalnya seperti Lazada, Tokopedia, JD ID dan platform lainnya.2
    Date: 2022–11–13
  43. By: Briones, Roehlano M.
    Abstract: This paper seeks to assess the degree to which the modernization objective of the Agriculture and Fisheries Modernization Act (AFMA) in terms of enhanced profits and incomes in the AF sectors has been achieved. It finds that, while still low compared with the national average, per capita income for agricultural households has been rising since the late 1990s, continuing long-term trends since at least the 1960s. Increases in the income of agricultural households have been largely driven by nonfarm income sources, although agricultural income has also been rising. Increases in agricultural income have been driven in part by productivity growth and increasing competitiveness of agriculture (i.e., declining cost per unit output). However, the increasing fragmentation of landholdings in recent decades is associated with the lost opportunity for increased income. Nonetheless, poverty incidence among agricultural households has been falling, with acceleration in decline since 2012. Consistent with rising income, poverty among agricultural households has been falling, with the pace of decline accelerating from 2012 to 2018.These stylized facts suggest several policy implications: (1) Adopt strategies to accelerate modernization by structural change, such as boosting infrastructure investment and promotion of industrial innovation; (2) Accelerate productivity growth in agriculture by R&D and extension; (3) Undertake measures to promote structural change within agriculture; (4) Promote agri-food systems modernization by appropriate industrial policies, including operational consolidation of landholdings; and (5) Redeploy safety nets and social protection schemes as targeted measures towards cushioning adjustment to reform. Comments to this paper are welcome within 60 days from the date of posting. Email
    Keywords: farm productivity;agricultural transformation;structural change;poverty
    Date: 2022
    Abstract: 아시아 지역은 1990년대 이후 안정적인 성장국면에 진입하면서 중국은 물론 동남아시아, 남아시아의 주요국들이 신흥시장으로 큰 주목을 받아왔다. 그러나 최근 코로나19 확산으로 위기상황이 지속되면서 아시아 지역 대부분의 개도국에서 구조적 취약성이 심화되었으며, 감염병 확산을 막기 위한 봉쇄조치로 인해 경제성장이 둔화됨에 따라 사회경제적 불평등도 확대되고 있는 실정이다. The Asian region has drawn great attention as an emerging market with relatively stable growth since the 1990s. The COVID-19 pandemic crisis, however, has revealed its structural vulnerability, intensifying socio-economic inequality in the region. Economic activities have shrunk due to the lockdown measures, resulting in stagnation and widening the income gap. Uncertainties have also increased in the environment for development cooperation in the region, which calls for a new approach for effective implementation of official development assistance (ODA).This study aims at deriving Korea’s mid-term ODA strategies towards the Asian region by analyzing changes in the development context and conditions for cooperation in the region since the pandemic, as well as progress in the Sustainable Development Goals (SDGs) and the development gap. As economic interdependencies with Asian countries have intensified, Korea’s ODA has given the highest priority to the region: fifty to sixty percent of its ODA has been directed to Asia and sixteen out of twenty-four priority partner countries are in the region. The Korean government has also pursued diplomatic diversification focused on strengthening partnerships with Asian emerging markets, particularly under the New Southern and Northern Policy. Establishing an effective ODA strategy in the post-COVID-19 erarequires not only country-specific assistance plans but also a regional approach which incorporates the diverse development needs, so as to improve policy coherence as well as developmenteffectiveness. As the demands from developing countries willing to share Korea’s experiences and know-how in response to COVID-19 have increased, the role of Korea’s ODA has gained itsimportance particularly in the health sector. The uncertaintiesfurther increased by the recent spread of the omicron variant, however, make more difficult the implementation of ODA projectsin addition to normal economic activities. While the Korean government continues to support the Asian region as a priority, the overall strategy lacks integrated regional approach as Korea’s ODA has been based on individual country strategies—Country Partnership Strategies (CPS). (the rest omitted)
    Keywords: 경제협력; 경제개발; Economic cooperation; economic development
    Date: 2021–12–30
  45. By: Sam Njinyah (Manchester Metropolitan University, UK); Simplice A. Asongu (Yaoundé, Cameroon)
    Abstract: The purpose of this paper is to examine the relationship between a firm starting operation informally and its future innovation and whether this relation is moderated by institutional support (having access to finance from financial institutions to run their business). Data from the World Bank Enterprise Survey on 30 Eastern European and South-East Asian countries were analysed using probit regression analysis. The findings show that there is a positive significant relationship between firms that start operations informally and the firms’ innovation and that such effect persists over time. We found that this relationship is stronger if the firms can gain access to finance to expand their business activities. Finally, our result shows that such a relationship is based on the type of innovation being pursued by the firm. By examining the moderation effect of access to finance on starting a business informally, we provide an alternative explanation to policymakers on how to deal with informal firms to benefit from their contribution to growth.
    Keywords: Informality/unregistered firms, Innovation, Institutions, and Eastern European and South East Asia
    Date: 2022–01
  46. By: Diokno-Sicat, Charlotte Justine; Palomar, Robert Hector G.; Ruiz, Mark Gerald C.
    Abstract: The 2023 Philippine national budget was drafted on the eve of the election of a new president. While aiming to sustain the recovery from the effects of the COVID-19 pandemic and address economic scarring, the new administration needs to manage the implementation of the Mandanas-Garcia Supreme Court Ruling (or Mandanas ruling, which broadens the base for intergovernmental fiscal transfers and fully devolves functions to local governments). Compounding this was the geopolitical tensions in Europe that shook the world in February 2022, disrupting global value chains and triggering the rise in oil and food prices. With the backdrop of these continuing challenges, the new administration has identified its key priorities that aim to address these short-term concerns while also seeking to lead the improvement of the country as it enters the medium to long term. This paper examines the 2023 National Expenditure Program (NEP), which is also known as the President’s Budget, to see how it budgets for (a) the identified priorities of the new administration and (b) the effects of the pandemic and the Mandanas Ruling. Concerns regarding the pandemic are expected to be reflected not only with the prioritization of health and social protection programs but also efforts to improve the economy—especially given the projected 61.3 percent debt-to-GDP ratio in 2023. With respect to the Mandanas Ruling, the phased absorption of devolved functions has been met by reduced support to richer local government units (LGUs) from national government programs. For poorer LGUs, policymakers introduced in 2022 the fiscal equalization program known as the Growth Equity Fund (GEF) to be a source of funds for LGUs that cannot absorb devolved functions immediately. The GEF is continued as a policy in 2023 but must be closely monitored. The last section presents trends in Philippine fiscal deficits and discusses fiscal risks to debt sustainability. An exercise, estimating tax buoyancy, was also conducted to examine the current tax system. The results suggest that debt is sustainable and the current tax system is buoyant though it could still be improved to ensure a stable stream of revenues. Comments to this paper are welcome within 60 days from the date of posting. Email
    Keywords: COVID-19 pandemic;Expansionary fiscal policy;Mandanas ruling;2023 budget
    Date: 2022
  47. By: Mali, Ignasius Loyola Prasetyo
    Abstract: Crowde adalah platform financial technology dimana Crowde merupakan salah satu start up pertanian yang menjadi platform dalam bidang khusus permodalan dengan sistem Peer-to-Peer (P2P) Lending. Kurangnya modal menjadi salah satu masalah dalam bisnis agrikultur sehingga Crowde dapat membantu pengguna terkait kurangnya permodalan. Tujuan penelitian ini adalah untuk mengetahui sejauh mana peran penggunaan website Crowde sebagai platform permodalan agrikultur. Metode yang digunakan berupa deskriptif dengan mendeskripsikan sesuai keadaan. Subjek penelitian adalah petani yang sudah bergabung di website Crowde. Berdasarkan hasil diperoleh bahwa petani -petani yang bergabung dengan Crowde merasa Crowde sangat membantu terutama dalam kendala permodalan selain membantu permodalan Crowde juga memberikan pelatihan bagi pengguna. Kesimpulan diperoleh bahwa Penggunaan website Crowde memiliki peran yang sangat penting dalam permodalan di bidang agrikultur.
    Date: 2022–11–29
  48. By: Olivier Bargain (BSE - Bordeaux Sciences Economiques - UB - Université de Bordeaux - CNRS - Centre National de la Recherche Scientifique); Maria Lo Bue; Francesco Palmisano
    Abstract: We suggest a simple and fexible criterion to assess relative inter-generational mobility. It accommodates different types of outcomes, such as (continuous) earnings or (discrete and ordinal) education levels, and captures dynastic improvements of such outcomes at different points of the initial distribution. We provide dominance characterizations - for instance on the relative progress made by women - that are consistent with social preferences upon desirable patterns of mobility. We suggest an application on Indonesia. Using the IFLS data, we match parents observed in 1993 to their children in 2014, providing one of the rare intergenerational mobility analyses based on a long panel in the context of a developing country. Results indicate that mobility in terms of education and potential earnings was markedly at the advantage of women. The bulk of the population came out of illiteracy, possibly due to largescale education reforms, but the relative educational mobility was regressive, which considerably reduced the progressivity of mobility in terms of potential earnings.
    Keywords: Intergenerational mobility, Education, Earnings, Social welfare, Gender
    Date: 2022–12–13
  49. By: Linh, Thùy
    Abstract: Tạp chí điện tử Giáo dục Việt Nam có cuộc trao đổi với Tiến sĩ Phạm Hiệp- Giám đốc nghiên cứu, Trung tâm Nghiên cứu và Phát triển giáo dục Edlab Asia, một chuyên gia về giáo dục đại học những nhìn nhận và kỳ vọng về vấn đề phát triển khoa học công nghệ nước nhà.
    Date: 2021–02–17
  50. By: Mindsponge, AISDL
    Abstract: Giang Hoang – a researcher from Monash Business School – attempted to explore the unique agency problems arising among multiple agents in Vietnamese enterprises. She found that a higher proportion of foreigners on supervisory boards, more multiple state representatives on the board of directors, longer chairman’s years employed by companies, better titles of chairpersons, and the greater largest shareholder ownership decreased agency cost levels. In contrast, the magnitude of the second largest shareholder ownership was identified to increase agency costs.
    Date: 2022–11–20
  51. By: putri, Aulia ananda
    Abstract: Kebijakan moneter bertujuan mengarahkan perekonomian makro ke kondisi yang lebih baik dan atau diinginkan. Kondisi-kondisi tersebut diukur dengan menggunakan indicator-indikator makro utama seperti terpeliharanya pertumbuhan ekonomi yang baik, stabilitas harga umum yang terkendali, dan menurunnya tingkat pengangguran. Kebijakan moneter tujuannya adalah untuk mencapai stabilisasi ekonomi. Berhasil tidaknya tujuan dari kebijakan moneter tersebut dipengaruhi oleh dua faktor, pertama: kuat tidaknya hubungan kebijakan moneter dengan kegiatan ekonomi tersebut, kedua: jangka waktu perubahan kebijakan moneter terhadap kegiatan ekonomi.
    Date: 2022–11–24
  52. By: Ly Dai Hung (Vietnam Institute of Economics, Hanoi, Vietnam)
    Abstract: The paper investigates the fast and sustainable development pattern with the digital revolution by employing the Kuznets curve. The data is a cross-section sample of 180 economies over 1990-2021 time period. The qualitative analysis shows that the Kuznets curve is well-recorded in the literature of income inequality and environmental reservations. And the digital revolution tends to push forward the achievement of social and environmental results. Moreover, the quantitative analysis records that both the social and environmental Kuznets curves exist. And the digital revolution can change the pattern of Kuznets curve in the direction that enhance the fast and sustainable development. The evidence suggests that the digital revoluation is crucial for the fast and sustainable development cross economies around the world. Thus, one possible policy mechanism can be the stimulation of digital revolution so that an economy can first achieve the social Kuznets curve then the environmental Kuznets curve.
    Date: 2022–11
  53. By: Rahimallah, Muhammad Tanzil Aziz (Sulawesi Barat University)
    Abstract: Perkembangan ilmu sosial menjadikan kedudukan penelitian kuantitatif dalam ilmu sosial adalah setara bahkan untuk beberapa kajian justru lebih dibutuhkan. Adapun gerbang untuk memasuki penelitian kuantitatif ini adalah pemahaman statistik, khususnya statistik sosial. Buku ini disusun secara sederhana namun sistematis dan sangat mudah untuk dipahami, dengan harapan memberikan pondasi awal bagi para pembaca untuk mengenali dan memahami statistik sosial. Buku ini memilih bahasan-bahasan yang nantinya akan sangat diperlukan dalam melakukan penelitian kuantitatif khususnya yang berkaitan dengan membaca dan memahami data statistik, pengukuran data statistik, penentuan sampel penelitian dan juga pengolahan data dan penarikan kesimpulan atas data kuantitatif dalam ilmu sosial. Selain itu, buku ini menyajikan contoh-contoh soal dan latihan sesuai dengan materi yang telah dipelajari agar semakin memudahkan pembaca untuk memahami setiap pembahasan. Di bagian akhir buku ini pula disajikan project statistik sosial yang bisa dilakukan guna memperdalam pemahaman dan penerapan statistik dalam ilmu sosial dengan cara pembelajaran luar ruangan. Project yang disajikan berupa survey-survey sosial yang tidak hanya bisa dijadikan rujukan untuk model penelitian kuantitatif tetapi juga bisa langsung mengaplikasikan semua pembahasan yang ada dalam buku ini dalam suatu kegiatan bahkan hasilnya bisa langsung dimanfaatkan untuk kepentingan publik.
    Date: 2021–02–28
  54. By: KIET, KIET (Korea Institute for Industrial Economics and Trade)
    Abstract: The real economy of South Korea showed solid growth in the first half of 2021 as the impact of COVID-19 eased and lockdown measures in major countries were lifted, but growth slowed in H2. Rapid first half growth was led by an increase in exports and investment, as domestic and foreign demand recovered. In 2022, the growth is expected taper off somewhat due to slowing exports, reduced policy support, and reverse base effects. However, the growth trend will be maintained, so the Korean real economy is expected to grow by 2.9 percent due to relaxed COVID-19 protocols and a recovery in domestic demand, and particularly in consumption. Consumption is expected to increase in the 3 percent range, which is similar to 2021, due to high vaccination rates, and acceleration of the government’s “living with COVID-19 initiative”, and expectations that an oral treatment for COVID-19 will be made available. Facilities investment is expected to grow by 2.2 percent as the global economy continues to recover and demand for ICT components related to the digital transformation continues to rise, although there are concerns over falling memory semiconductor prices. Construction investment should also recover, civil engineering construction turns to an upward trend. Exports are expected to grow by only 1.6 percent in 2022, due to the base effect of a sharp increase in 2021 and continued uncertainties such as the protracted U.S.-China trade dispute and the economic slowdown in China. Exports of 13 major industries are expected to increase by 3.4 percent in 2022 due to a recovery in global demand and a rise in export unit prices. Export growth will slow, however, due to the base effect, uncertainties related to COVID-19 in Southeast Asia, an imbalance in semiconductor supply and demand, and the economic slowdown in China. Nevertheless, exports will exceed pre-pandemic levels and the proportion of exports of the 13 major industries will also increase. Machinery industry exports will continue to grow (save for shipbuilding machinery) and materials industry exports are also poised to increase, excepting steel exports. In the IT sector, export growth will be driven by rechargeable batteries and semiconductors, but appliance exports are expected to lag behind. Production in the 13 major industries is expected to increase due to the expansion of exports and domestic demand in most industries except for the shipbuilding and home appliance industries, but the magnitude of increase is expected to be somewhat limited.
    Keywords: Korean Economic Outlook; Korean Industrial Outlook; Macroeconomics
    JEL: E66
    Date: 2022–02–28
  55. By: Restu, Toya
    Abstract: Isi buku “Pengantar Kedalam Perjanjian Baru” ini adalah suatu penyusurvean yang telah dilakukan pada zaman dahulu yang sudah berpuluh-puluhan tahun lamanya, namun sampai saat ini masih disebarluaskan dengan sangat baik.
    Date: 2022–11–28
  56. By: putri, Aulia ananda
    Abstract: secara umum tujuan sistem moneter Islam hampir sama dengan sistem moneter ekonomi lainnya yakni, kesejahteraan. Namun pada tataran strategi berbeda jauh, teori ekonomi kapitalis yang mengandalkan kekuatan pasar saja, sedangkan Marxisme mengandalkan negara sebagai pemegang penuh atas kendali aktivitas perekonomian beserta kebijakan-kebijakannya. Dalam Islam individu sebagai khalῑfah di muka bumi harus mampu bertangung jawab atas dirinya dan negara sebagai garda terakhir apabila individu itu sudah tidak mampu menjamin kesejahteraannya.
    Date: 2022–11–22
  57. By: Ly Dai Hung (Vietnam Institute of Economics, Hanoi, Vietnam)
    Abstract: The paper investigates the relationship between the external debts and the trade balance on a data sample of 190 economies over 1990-2020. In particular, the trade surplus provides the financial resource to repay the external debts. Thus, a greater trade surplus ensures a greater ability to sustain a huger external debts. The qualitative analysis records that there exits mixed results on the external debts and trade balance. And the quantitative analysis illustrates that the external debts are positively correlated with the trade balance. Thus, the evidence confirms that a greater trade surplus can sustain a huger external debts. The empirical results uncover that the trade balance is crucial for a sustained quantity of external debts. Thus, an appropriated policy for the external debts is to stimulate the trade balance, such as with the international trade policy and associated exchange rate policy.
    Date: 2022–09
  58. By: International Monetary Fund
    Abstract: This technical assistance (TA) mission on Government Finance Statistics (GFS) was conducted during July 6-12, 2022. The main purpose of the mission was to review the progress made by the authorities in implementing previous TA recommendations and provide further support to strengthen the compilation and dissemination of GFS in line with international standards set out in the Government Finance Statistics Manual 2014 (GFSM 2014).
    Keywords: Government finance statistics;Public sector debt statistics;Expenditure;Public Sector
    Date: 2022–11–29
  59. By: Soh, Ann-Ni; Puah, Chin-Hong; Jong, Meng-Chang
    Abstract: A wave of studies has always surrounded the nexus of tourism development and economic growth in a nation. An assessment is provided in this study to examine the Malaysian tourism market dynamics. A series of macroeconomic variables has been utilised to model tourism demand and examine causal linkages among tourism and economic growth. Spanning from 2000 till 2018 on a monthly basis, the Markov regime switching regression provides an overview of tourism market performance and potential influences during recession and expansion periods of the Malaysian tourism cycle. Notably, the results present a reference chronology of the crises happening over the past two decades, the Granger causality of the variables, and different behavioural changes of the variables as well for both recession and expansion periods. Significant relationships have been revealed in this study that suggest that overall international tourism can drive economic growth and vice versa.
    Keywords: Markov switching regression, sustainable development goals, Granger causality, tourism-led growth hypothesis, R language
    JEL: O11 O4
    Date: 2022–12–11
  60. By: , Asniar
    Abstract: Fokus utama kebijakan moneter dalam Islam yakni pada pemeliharaan perputaran sumber daya dengan hukum-hukum syariah seperti ketiadaan suku bunga dalam ekonomi, sehingga tidak ada lagi alasan bagi para pemegang dana untuk menahan uangnya di pasar keuangan. Kebijakan moneter berperan dalam mengendalikan jumlah uang beredar menggunakan instrumen moneter tertentu melalui transmisi moneter dengan tujuan akhir, sebagaimana yang utama adalah pencapaian stabilitas harga.
    Date: 2022–11–19
  61. By: Bikubanya, Divin-Luc; Geenen, Sara; Verbrugge, Boris
    Abstract: Ce papier cadre dans le projet "InForMining: une étude approfondie de l'informalisation dans la production mondiale de l’or", financé par la Fondation pour la recherche flamande (FWO) et supervisé par le Prof. Dr. Sara Geenen et le Dr. Boris Verbrugge à l'Institut de politique de développement, Université d'Anvers en Belgique. Le projet a comme objectifs d’analyser les dynamiques d’informalisation dans la production mondiale de l’or, ainsi que leurs effets sur les travailleurs. En réponse au premier objectif, nous avons étudié l’informalisation comme une tendance structurelle dans le système mondial de production de l’or dans le livre "Global gold production touching ground" (Verbrugge et Geenen, 2020). En réponse au deuxième objectif, nous avons étudié la question du travail informel au sein des zones minières dans trois pays et trois continents : le Pérou en Amérique Latine, les Philippines en Asie et la RDC en Afrique. Dans ce papier nous présentons les résultats d’une enquête qui a été faite en RDC en collaboration avec le Centre d’Expertise en Gestion Minière (CEGEMI) de l’Université Catholique de Bukavu.
    Keywords: mining, gold, DRC
    Date: 2022–08
  62. By: kasim, Habibah ibrahim
    Abstract: Keuangan Islam adalah sebuah sistem yang bersumber dari Al-Quran dan Sunnah, serta dari penafsiran para ulama terhadap sumber-sumber wahyu tersebut. Dalam berbagai bentuknya, struktur keuangan Islam telah menjadi sebuah peradaban yang tidak berubah selama empat belas abad. Karakteristik keuangan Islam adalah nilai 15 ketuhanan, nilai dasar kepemilikan (al- milkiyah), keseimbangan, Nilai Dasar Persaudaraan dan Kebersamaan, nilai dasar kebebasan dan Nilai Dasar Keadilan.Instrument system keuangan Islam adalah zakat, larangan riba, kerjasama ekonomi, jaminan sosial, Pelarangan terhadap praktek-praktek usaha yang kotor serta adanya peranan negara dalam system ekonomi. Untuk memberikan dampak yang lebih signifikan terhadap ekonomi, sistem keuangan Islam perlu memiliki porsi yang lebih signifikan terhadap total asset keuangan, yakni setidaknya 20 persen. Oleh karena itu, pemerintah, bank sentral, dan agen-agen ekonomi yang peduli pada sistem keuangan Islam perlu bekerja lebih keras.
    Date: 2022–11–21
  63. By: Ly Dai Hung (Vietnam Institute of Economics, Hanoi, Vietnam)
    Abstract: The paper analyzes the interaction between the financial economy and real economy on a data sample of 185 economies over 1990-2019. In particular, the financial economy mentions to the value of financial markets, including the bonds, debts, securities and related assets, while the real economy is based on the production capacity of an economy. Methodology: The research methodology is based on a quantitative analysis. This method carries out the graphical and data analysis, then, derives main princinple underlying the interaction between the financial and real economy. Findings: The evidence shows that the financial economy can have various correlation pattern with the real economy. There exists a non-linear dependence pattern of economic growth on the stock market value per GDP and a negative correlation of domestic credit to private sector with the economic growth. Implications: The empirical evidence suggests that the financial economy does not necessary illustrate the production capacity but mainly illustrates the expectation by the households and investors. Thus, an appropriated policy can be the participation of government to provide useful information to drive and stablize the financial markets, especially during the recession time period.
    Keywords: Financial Economy,Real Economy,Quantitative Analysis
    Date: 2022–05
  64. By: sremere, Mariana
    Abstract: Paulus mengingatkan para pemilik budak kalau mereka punya tanggung jawab kepada budak-budak mereka. Para pemilik budak harus bisa menunjukkan tanggung jawab moral kepada budak-budak ini kalau mereka adalah orang-orang yang takut akan Tuhan. Di surat ini, Paulus tidak mengutuk perbudakan, tetapi menyatakan Onesimus sebagai saudara seiman, bukan lagi budak. Ketika para pemilik budak ini sudah bisa menganggap para budaknya sebagai saudara sendiri, perbudakan akan mencapai tahap di mana status budak tidak ada lagi artinya. Jemaat-mula-mula memang tidak secara langsung mengecam perbudakan, tetapi memberikan dasar hubungan yang baru antara pemilik dan budaknya. Paulus berusaha mempersatukan Filemon dan Onesimus dengan kasih Kristus sehingga di antara mereka timbul adanya persamaan derajat. Hanya karena terang Injil, barulah perbudakan bisa musnah.
    Date: 2022–11–29
  65. By: Igbatayo, Samuel (Afe Babalola University, Nigeria)
    Abstract: Africa’s regional integration agenda arrived at a cross roads in 2019, with the adoption of the African Continental Free Trade Area (AfCFTA) agreement. The AfCFTA framework came into force on 30th May, 2019, with its ratification by The Gambia, which brought the total number of African Union (AU) member state ratifications to twenty-two, the minimum threshold for AfCFTA implementation (Baker McKenzie 2019). As of May; 2022, forty-three of the 55 African countries have ratified the AfCFTA agreement (African Union 2018). The 12th Extraordinary Session of the Assembly of the African Union in Niamey on 7th July; 2019, witnessed the launching of AfCFTA’s operational phase, which is governed by five instruments, namely: the rules of origin, the online negotiating forum, the monitoring and elimination of non-tariff barriers; a digital payment system and the African Trade Observatory. In addition, the beginning of trade under the terms of the agreement was set for July 1, 2020 (TRALAC 2020). A free trade agreement (FTA) can be aptly described as a pact between two or more countries on areas in which they agree to lift most or all tariffs, and other barriers to imports and exports among them (Barone 2019). Under a free trade framework, goods and services can be traded across international borders, with little or no government tariffs, quotas, subsidies, or prohibitions to inhibit their exchange. The theory of free trade Agreements is rooted in classical economics, dating back to the era of Adam Smith. During this period, David Ricardo (1772-1823), a British political economist, was acknowledged with pioneering thoughts on free trade as a key instrument for wealth accumulation. The evolution of preferential trade agreements is traceable to the rise of European countries after World War II, with the establishment of the European Coal and Steel Community in 1951, a development that eventually culminated in the creation of the European Union (EU) (Johnston 2019). Spurred by the success of regional bodies with free trade agreements and Africa’s poor trading performance; estimated at a paltry 3% of annual global trade, the African Union embarked upon the creation of the AfCFTA agreement as a tool for Intra-Africa trade and regional integration.
    Keywords: The; Emergence; of; African; Continental; Free; Trade; Area; Agreement; and; Lessons;
    Date: 2022–10–27
    Abstract: 2008년 글로벌 금융위기 이후 전 세계적으로 불평등이 심화되고 있는 가운데 자산불평등이 소득불평등보다 더 심화되고 있다. 한국도 예외는 아니다. 불평등 심화는 그 자체로 끝나지 않고 기회의 불평등, 나아가 계층 간의 이동을 억제하고 이는 불평등을 더욱 심화시켜 악순환을 만들어내는 것이 더 큰 문제이다. 이에 따라 국제사회는 불평등을 완화하고 포용성장을 위한 일환으로 부동산 보유세를 비롯한 재산과세 강화를 권고하고 있다. 국내에서도 부동산 보유세 등 재산과세 논의가 활발하다. 그래서 본 연구는 부동산 보유세에 대한 국제사회 및 주요국의 정책 방향을 조사하고 부동산 보유세가 거시경제에 미치는 영향을 살펴보고자 한다. Since the 2008 global financial crisis, inequality has been increasing worldwide. In particular, levels of wealth (asset) inequality are increasing further than income inequality. And Korea is no exception. This deepening of inequality is more worrisome in that it leads to inequality of opportunity while suppressing movement between classes, which in turn deepens inequality, creating a vicious cycle of inequality. This is a bigger problem than the inequality itself. The international communities are calling for stronger property taxes, including recurrent taxes on immovable property, as part of mitigating inequality and promoting inclusive growth. In Korea, there is heated discussion on property taxes, such as recurrent taxes on immovable property including the comprehensive real estate tax. Therefore, this study aims to investigate policy directions in international organizations and major countries on immovable property tax andexamine the effect of property tax on the macro economy. This study consists of four parts. In Chapter 2, we examine the direction of international organizations’ tax policy on immovable property and the current real estate tax system of major countries. The international communities, represented by organizations such as the OECD, World Bank, and IMF, have been calling for stronger property taxes, such as recurrent taxes on immovable property, since the global financial crisis in 2008, and this trend has continued even after the COVID-19 pandemic in 2020. In particular, the introduction or reinforcement of a wealth tax, a new type of property tax, has recently become an issue of discussion. When comparing the real estate taxation systems of Korea, the United States, the United Kingdom, Canada, and Singapore, several characteristics become evident for Korea. In terms of the purpose of imposing immovable property tax, these major economies and Korea share the aim of securing localgovernment finances, but the difference is that the international communities are focusing more on inclusive growth and improvinginequality, while Korea is more focused on stabilizing the real estate market. (the rest omitted)
    Keywords: 조세; 금융정책; Tax; financial policy
    Date: 2021–12–30
  67. By: Henry Chiu; Rama Cont
    Abstract: We present a non-probabilistic, pathwise approach to continuous-time finance based on causal functional calculus. We introduce a definition of self-financing, free from any integration concept and show that the value of a self-financing portfolio is a pathwise integral (every self-financing strategy is a gradient) and that generic domain of functional calculus is inherently arbitrage-free. We then consider the problem of hedging a path-dependent payoff across a generic set of scenarios. We apply the transition principle of Isaacs in differential games and obtain a verification theorem for the optimal solution, which is characterised by a fully non-linear path-dependent equation. For the Asian option, we obtain explicit solution.
    Date: 2022–11
  68. By: , Le Nguyen Hoang (Ho Chi Minh University of Banking)
    Abstract: Purpose- Although there are abundant studies addressing the technical aspects of lean manufacturing, few have been done to examine the influence of national culture on its effectiveness. Moreover, the “true” relationship between national culture and operational performance from practising lean manufacturing is probably non-linear, thus leading to an inconsistent role of national culture in previous research. By employing multi-group invariance analyses that do not face the strict assumption of linearity relationships, this study aims to investigate how the impact of lean manufacturing practices on operational performance differs across groups with different national cultural dimensions. Design/methodology/approach- Seven models associated with five cultural dimensions and two control variables (i.e. type of ownership, size of enterprise) are developed and tested based on 271 global manufacturing plants located in Vietnam. Findings- The results indicated that lean manufacturing is more effective in plants with a small size that value a low power distance, low uncertainty avoidance, and feminine culture. These results partially support the practice-culture congruence perspective. Originality/value- This study provides an alternative analytical approach to study the role of natural culture and shows what specific cultural dimensions are congruent with lean manufacturing practices. These empirical results contribute to a deeper understanding of the reasons why certain companies find lean manufacturing practices difficult and/or fail to achieve their target performance.
    Date: 2022–11–03
  69. By: Rainald Borck (University of Potsdam, CESifo, DIW Berlin); Philipp Schrauth (University of Potsdam)
    Abstract: We use worldwide satellite data to analyse how population size and density affect urban pollution. We find that density significantly increases pollution exposure. Looking only at urban areas, we find that population size affects exposure more than density. Moreover, the effect is driven mostly by population commuting to core cities rather than the core city population itself. We analyse heterogeneity by geography and income levels. By and large, the influence of population on pollution is greatest in Asia and middle-income countries. A counterfactual simulation shows that PM2.5 exposure would fall by up to 36% and NO2 exposure up to 53% if within countries population size were equalized across all cities.
    Keywords: population density, air pollution, gridded data
    JEL: Q53 R12
    Date: 2022–12
  70. By: Robles Mengoa, Eugenia; Geenen, Sara; Verbrugge, Boris; López Valverde, Rafael
    Abstract: Este documento forma parte del proyecto "InForMining: un estudio profundo de la informalidad en la producción global de oro", financiado por la Fundación Flamenca de Investigación (FWO) y supervisado por la Prof. Dra. Sara Geenen y el Dr. Boris Verbrugge del Instituto de Políticas del Desarrollo (IOB) de la Universidad de Amberes, Bélgica. Este proyecto tiene dos objetivos principales: estudiar los procesos de informalización en el sistema global de producción de oro, así como sus efectos sobre los trabajadores. Respondiendo al primer objetivo, hemos estudiado la informalización como una de las tendencias estructurales que caracterizan la producción mundial de oro. Esto ha dado lugar al libro "Global gold production touching ground" (Verbrugge y Geenen, 2020a). En respuesta al segundo objetivo, hemos estudiado la cuestión del trabajo informal en las zonas mineras de tres países de tres continentes: Perú en América Latina, Filipinas en Asia y la República Democrática del Congo (RDC) en África. En este trabajo presentamos los resultados de una encuesta realizada por la estudiante de doctorado Eugenia Robles Mengoa. Los datos fueron analizados por Eugenia Robles y el consultor Rafael López.
    Keywords: mining, gold, Peru
    Date: 2022–08

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