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on South East Asia |
| By: | Alain Coen; Patrick Lecomte; Saadallah Zaiter |
| Abstract: | The aim of this study is to analyze the role of Chinese foreign direct investments (FDIs) in the dynamics of real estate in the Asia-Pacific region after the global financial crisis. We use a linear asset pricing model including macroeconomic risk factors and develop a metric to measure FDIs in the real estate sector. Based on panel econometrics, our robust results report that Chinese FDIs significantly influence Asia-Pacific region’s public real estate markets, shedding new light on China’s economic internationalization in the Asia and the Pacific region. We also provide strong evidence that our findings are not driven by a reverse causality phenomenon, whereby a country with superior performance of public real estate sector is in better position to attract Chinese FDIs. |
| Keywords: | Asia-Pacific region; Chinese foreign direct investments; Macroeconomic risks; REITs |
| JEL: | R3 |
| Date: | 2022–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:2022_56&r=sea |
| By: | Maliki Achmad; Graham Teskey; Anna Winoto; Michael Woolcock (Center for International Development at Harvard University) |
| Abstract: | Since March 2020, the novelty, intensity, and scale of the COVID-19 pandemic has placed enormous stress on governments, delivery systems, and social order around the world, especially so in countries with modest public health resources, where targeting is especially difficult, and among occupational groups working in close proximity to others. Those overseeing Indonesia’s health care system from mid-2020 onwards faced precisely this vortex of existential challenges, but certain organizations within this system were well placed to deploy an adaptive implementation strategy. KOMPAK was one such organization2; its efforts were not universally successful, but their achievements (e.g., coherently coordinating governance efforts between national, regional, and local levels of government; building effective village information systems) were nonetheless distinctive, consequential and enduring. In this sense, COVID-19 can be understood as a perverse but instructive “natural experiment” in how well public sector organizations respond in the face of unexpected high-stakes, high-uncertainty, low-resource, low-prior-experience crises. We document key insights and implications for public sector administration from KOMPAK’s efforts, not just for Indonesia and other developing countries but for public service delivery systems more generally. |
| Keywords: | Indonesia, Covid-19 |
| Date: | 2023–02 |
| URL: | http://d.repec.org/n?u=RePEc:cid:wpfacu:425&r=sea |
| By: | Wisarut Suwanprasert |
| Abstract: | Prior to China's accession to the WTO in 2001, tariffs on Chinese products were based on an annual renewal of China's MFN status. Recent empirical evidence suggests that US importers stockpiled Chinese products to avoid the risk of high tariffs if the renewal were unsuccessful. I estimate the international spillover effects of the removal of US trade policy uncertainty on the timing of monthly US imports from the United States' major trading partners, by using product-level data at the HS 6-digit level, from 1991 to 2007. The empirical analysis finds that the removal of trade policy uncertainty alters the timing of US imports from Canada, Indonesia, Malaysia, Mexico, South Korea, Taiwan, Thailand, and the United Kingdom. Canada, Mexico, and South Korea experienced larger spillover effects in products for which they had large market shares in the United States. |
| Keywords: | Trade policy uncertainty; China shock; NTR gap; International spillovers; Inventories |
| JEL: | F1 |
| Date: | 2023–02 |
| URL: | http://d.repec.org/n?u=RePEc:pui:dpaper:200&r=sea |
| By: | , Penulis |
| Abstract: | In accordance with the mandate of the Defense Industry Law, State-Owned Enterprises can act as Lead Integrator of the National Alutsista PT. PAL Indonesia (PT. PAL) is one of the state-owned enterprises (BUMN) engaged in the construction of the Indonesian Navy Warships. The problem in this research is how the development strategy of PT. PAL as a BUMN in an effort to fulfill the national defense equipment to improve national resilience. The purpose of this study is to identify several internal and external factors that influence decision making and then determine the priority of strategic criteria and develop a strategic plan for the development of PT. PAL to be implemented in order to increase national resilience by fulfilling the national defense equipment. The research method used is a combination of qualitative and quantitative methods with the integration of SWOT analysis. The results showed that PT. PAL's problem solving was carried out through efforts to improve the competence of Human Resources (HR) and production facilities in the form of facilities and infrastructure. Human Capital Building policies and programs must continue to be socialized and internalized to improve the skills of employees to suit the demands of the times. An assessment of PT. PAL has been carried out by the Ministry of BUMN in 2017 based on the KPKU as a measuring tool; the results obtained by PT. PAL include BUMN category/level band good performance with a score of 489. |
| Date: | 2021–09–30 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:4ny7x&r=sea |
| By: | Stephen Ayerst; Loren Brandt; Diego Restuccia |
| Abstract: | The expansion in farm size is an important contributor to agricultural productivity in developed countries, but the reallocation process is hindered in less developed economies. How do distortions to factor reallocation affect farm dynamics and agricultural productivity? We develop a model of heterogeneous farms making cropping choices and investing in productivity improvements. We calibrate the model using detailed farm-level panel data from Vietnam, exploiting regional differences in agricultural institutions and outcomes. We focus on south Vietnam and quantify the effect of higher measured distortions in the North on farm choices and agricultural productivity. We find that the higher distortions in north Vietnam reduce agricultural productivity by 46%, accounting for around 70% of the observed 2.5-fold difference between regions. Moreover, two-thirds of the productivity loss is driven by farms' choice of lower productivity crops and reductions in productivity-enhancing investment, which more than doubles the productivity loss from factor misallocation. |
| JEL: | O11 O14 O4 Q12 Q15 Q16 |
| Date: | 2023–02 |
| URL: | http://d.repec.org/n?u=RePEc:nbr:nberwo:30985&r=sea |
| By: | , MUTMAINNA |
| Abstract: | Kota Palopo adalah sebuah kota di Provinsi Sulawesi Selatan, Indonesia. Kota Palopo sebelumnya berstatus kota administratif sejak 1986 dan merupakan bagian dari Kabupaten Luwu yang kemudian berubah menjadi kota pada tahun 2002 sesuai dengan UU Nomor 11 Tahun 2002 tanggal 10 April 2002. |
| Date: | 2023–01–27 |
| URL: | http://d.repec.org/n?u=RePEc:osf:osfxxx:a8xdu&r=sea |
| By: | Mathieu Gomes (CleRMa - Clermont Recherche Management - ESC Clermont-Ferrand - École Supérieure de Commerce (ESC) - Clermont-Ferrand - UCA - Université Clermont Auvergne); Thi Ngoc Mai Lê (UEH, University of Economics Ho Chi Minh City, Ho Chi Minh, Viet Nam); Benjamin Williams (CleRMa - Clermont Recherche Management - ESC Clermont-Ferrand - École Supérieure de Commerce (ESC) - Clermont-Ferrand - UCA - Université Clermont Auvergne) |
| Date: | 2023–02 |
| URL: | http://d.repec.org/n?u=RePEc:hal:journl:hal-03925429&r=sea |
| By: | Rainald Borck; Philipp Schrauth |
| 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: | 2022–12–14 |
| URL: | http://d.repec.org/n?u=RePEc:bdp:dpaper:0008&r=sea |
| By: | Andrew Brown; Frithjof Laubinger; Peter Börkey |
| Abstract: | Global trade in plastic waste and scrap declined further (2017-2021) in 2021 and preliminary data indicates a continuing trend in the first half of 2022 (January to May). The combined trade surplus of OECD Member Countries (i.e., the difference between exports and imports) continued to decrease. Less plastic waste and scrap is being exported by OECD countries to non-OECD countries, however some countries still export substantial volumes to non-OECD countries. Particularly several non-OECD south-east Asian countries remain large export destinations. At the same time, trade between OECD countries has increased. The value and composition of plastic waste and scrap exports in 2021 suggests that more high value and easy to recycle plastic waste was traded. The trade regime remains dynamic with new export destinations emerging, which deserve further monitoring. |
| Keywords: | circular economy, plastics, trade, waste management |
| JEL: | F18 L65 Q53 Q56 |
| Date: | 2023–03–02 |
| URL: | http://d.repec.org/n?u=RePEc:oec:envaaa:210-en&r=sea |
| By: | Paloma Taltavull de La Paz; Raúl Pérez; Francisco Juarez; Zhenyu Su |
| Abstract: | The paper builds the cycles of transactions and prices in the short term rental market from 2015 to 2021 for 46 European and Asian cities to understand how short-term tenants move across the cities. Having the cycles at the city level, the paper builds a panel and estimates a supply-demand model for the short-term rental market and analyses the endogenous relationship and ripple effect among cities using the VECM framework. Results suggest the existence of links between cities, both in short-term rental contracts and prices, supporting the hypothesis that short-term rental market visitors choose cities clustered in networks and that those networks compete with each other as alternative destinations. The evidence suggests that, through the technological platforms and individually, a particular city network is chosen as an alternative to others, revealing tastes changes and inducing segmentation in rental price growth and investment. |
| Keywords: | Cities; population mobility; rental prices, ; short term rental market |
| JEL: | R3 |
| Date: | 2022–01–01 |
| URL: | http://d.repec.org/n?u=RePEc:arz:wpaper:2022_134&r=sea |
| By: | Ozili, Peterson K |
| Abstract: | The purpose of the study is to investigate the correlation between credit supply to government and credit supply to the private sector to determine whether there is a crowding-out or crowding-in effect of credit supply to government on credit supply to the private sector. The findings show a significant positive correlation between credit supply to government and credit supply to the private sector. There is also a significant positive relationship between credit supply to government and credit supply to the private sector, implying a crowding-in effect of government borrowing on private sector borrowing. The positive correlation between credit supply to government and credit supply to the private sector by banks is stronger and highly significant in the period before the Great Recession, while the positive correlation is weaker and less significant during the Great Recession, and the correlation further weakens after the Great Recession. The regional analyses show that the positive correlation between credit supply to government and credit supply to the private sector by banks is stronger and highly significant in the African region than in the Asian region and the region of the Americas. |
| Keywords: | Domestic credit to private sector, government borrowing, crowding-out, credit supply, private sector, government, bank credit, recession, Africa, Asia, Europe, America, correlation. |
| JEL: | E51 E63 |
| Date: | 2023 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:116407&r=sea |
| By: | Gern, Klaus-Jürgen; Kooths, Stefan; Sonnenberg, Nils; Reents, Jan; Stolzenburg, Ulrich |
| Abstract: | Global growth has decelerated over the course of the year under the impact of high energy prices and great uncertainty. Monetary policy, which is being tightened very quickly in view of high inflationary pressure across the board, is now also putting a drag on economic activity. Overall, production remained on an upward trend into the fall, with impetus coming from easing supply bottlenecks and the continuing normalization of activity in those sectors of the economy particularly affected by the Covid-19 pandemic. Towards the end of the year, however, economic momentum weakened noticeably further. The major advanced economies in particular are currently facing a period of weak economic activity despite considerable fiscal support measures. At the same time, the problems for the Chinese economy remain significant. While global output (measured on a purchasing power parity basis) at 3.2 percent is expected to grow by 0.3 percentage points more this year than expected in September, we continue to forecast an increase of only 2.2 percent next year. For 2024, our expectation has even been reduced slightly to 3.2 percent, mainly because we do expect the US economy to recover slowly. Inflation is likely to have peaked and is expected to slow significantly over the forecast horizon thanks to lower commodity prices and easing economic tensions. However, underlying inflation is not likely to return to target levels until the end of the forecast period. |
| Keywords: | advanced economies, emerging economies, monetary policy, COVID19, Americas, Asia, Business Cycle World, China, Emerging Markets & Developing Countries, Europe, USA |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkie:268801&r=sea |
| By: | Gern, Klaus-Jürgen; Kooths, Stefan; Sonnenberg, Nils; Reents, Jan; Stolzenburg, Ulrich |
| Abstract: | Global growth has decelerated over the course of the year under the impact of high energy prices and great uncertainty. Monetary policy, which is being tightened very quickly in view of high inflationary pressure across the board, is now also putting a drag on economic activity. Overall, production remained on an upward trend into the fall, with impetus coming from easing supply bottlenecks and the continuing normalization of activity in those sectors of the economy particularly affected by the Covid-19 pandemic. Towards the end of the year, however, economic momentum weakened noticeably further. The major advanced economies in particular are currently facing a period of weak economic activity despite considerable fiscal support measures. At the same time, the problems for the Chinese economy remain significant. While global output (measured on a purchasing power parity basis) at 3.2 percent is expected to grow by 0.3 percentage points more this year than expected in September, we continue to forecast an increase of only 2.2 percent next year. For 2024, our expectation has even been reduced slightly to 3.2 percent, mainly because we do expect the US economy to recover slowly. Inflation is likely to have peaked and is expected to slow significantly over the forecast horizon thanks to lower commodity prices and easing economic tensions. However, underlying inflation is not likely to return to target levels until the end of the forecast period. |
| Keywords: | advanced economies, emerging economies, monetary policy, COVID19, Americas, Asia, Business Cycle World, China, Emerging Markets & Developing Countries, Europe, USA |
| Date: | 2022 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkeo:97&r=sea |