|
on South East Asia |
| By: | Shinozaki , Shigehiro (Asian Development Bank); Miyakawa, Daisuke (Waseda University); Arahan, Romeo (Asian Development Bank) |
| Abstract: | Limited data on micro, small, and medium-sized enterprises (MSMEs) make it difficult for governments to design appropriate MSME policies in Asia and the Pacific. To identify factors affecting MSME development and promote evidence-based policymaking, we propose a probabilistic principal component analysis method that works despite current data limitations. The study uses time-series MSME data collected from 25 developing member countries of the Asian Development Bank (ADB) through the Asia Small and Medium-Sized Enterprise Monitor project. The estimation results suggest that sound MSME credit markets, diversified financing options, support for new businesses and job creation, and active MSME participation in global marketplaces play a critical role in ensuring a smooth business recovery from various crises and shocks affecting developing Asia and the Pacific. |
| Keywords: | SME development; access to finance; financial inclusion; SME policy; probabilistic principal component analysis; Southeast Asia; South Asia; Central and West Asia; the Pacific |
| JEL: | D22 G20 L20 L50 |
| Date: | 2024–02–14 |
| URL: | http://d.repec.org/n?u=RePEc:ris:adbewp:0715&r=sea |
| By: | Thanh P. Hui; Katsushi S. Imai |
| Abstract: | This study analyses the long-lasting effects of the Vietnam War on the human capital of first and second generations after 50 years. Our focus is on Agent Orange, herbicide bombings used by the US military during the Vietnam War from 1962 to 1971. Although there is extensive research on the direct impacts of exposure to the war on education, health, and economic conditions, little is known about its outcomes on children born well after the war. Using the nationally representative household data in 2014, 2016, and 2018, combined with Agent Orange Data, this paper finds evidence that bombing exposure has long-lasting adverse effects not only on the affected generation but also on the children of those who experienced the conflicts. Overall, women tend to be more severely influenced by bombings than men, and the adverse effects on years of education are persistent in the second generation. In the first generation, there are also stronger effects on individuals exposed to the bombing after birth than those exposed in utero. Results based on 2SLS show that mothers’ exposure to shocks during the prenatal period or after birth significantly affects the schooling level of their children, especially among the mother-daughter dyads. |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:man:sespap:2401&r=sea |
| By: | Heimann, Tobias; Argueyrolles, Robin; Reinhardt, Manuel; Schuenemann, Franziska; Söder, Mareike; Delzeit, Ruth |
| Abstract: | The Renewable Energy Directive (RED II) by the European Union (EU) provides an updated framework for the use of renewable energy in the EU transport sector until 2030, and bans the use of biofuels with a high risk of causing indirect land‐use change in high carbon stock areas (high ILUC‐risk criteria). The only biofuel feedstock affected by this criterion is palm oil. We employ the computable general equilibrium (CGE) model DART‐BIO for a scenario‐based policy analysis and evaluate a phase‐out of palm oil‐based biodiesel, and an additional phase‐out of soy oil‐based biodiesel in the EU. Our results show that the palm phase‐out has only a relatively small impact on global palm fruit production and total crop land use in tropical and subtropical regions, while the soy phase‐out leads to a comparable stronger decrease in global soy production, and a reduction in total cropland use in soy‐producing regions. Both policies lead to increased oilseed production in the EU. Therefore, farmer in Malaysia and Indonesia face a significantly reduced income. While European farmers profit the most, EU firms and households are confronted with higher expenditures. Finally, this study indicates that unilateral demand‐side regulations for a single good in a single sector is not sufficient for effective environmental protection. Enhanced binding sustainability criteria and certification schemes for the use of all vegetable oils in every sector and industry as well as improved protection schemes for sensible forest areas are necessary. |
| Keywords: | Biofuels, Computable General Equilibrium (CGE), Land Use, Palm Oil, Renewable Energy Directive (RED II), Soy Oil |
| Date: | 2024 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:ifwkie:281955&r=sea |
| By: | Thanh P. Bui (Department of Economics, Business School University of St Andrews, UK); Katsushi S. Imai (Department of Economics, School of Social Sciences, The University of Manchester, UK and Research Institute for Economics and Business Administration, Kobe University, JAPAN) |
| Abstract: | This study analyses the long-lasting effects of the Vietnam War on the human capital of first and second generations after 50 years. Our focus is on Agent Orange, herbicide bombings used by the US military during the Vietnam War from 1962 to 1971. Although there is extensive research on the direct impacts of exposure to the war on education, health, and economic conditions, little is known about its outcomes on children born well after the war. Using the nationally representative household data in 2014, 2016, and 2018, combined with Agent Orange Data, this paper finds evidence that bombing exposure has long-lasting adverse effects not only on the affected generation but also on the children of those who experienced the conflicts. Overall, women tend to be more severely influenced by bombings than men, and the adverse effects on years of education are persistent in the second generation. In the first generation, there are also stronger effects on individuals exposed to the bombing after birth than those exposed in utero. Results based on 2SLS show that mothers' exposure to shocks during the prenatal period or after birth significantly affects the schooling level of their children, especially among the mother-daughter dyads. |
| Date: | 2024–03 |
| URL: | http://d.repec.org/n?u=RePEc:kob:dpaper:dp2024-06&r=sea |
| By: | Peng, Xue |
| Keywords: | Agricultural and Food Policy, International Relations/Trade |
| Date: | 2023–12 |
| URL: | http://d.repec.org/n?u=RePEc:ags:iats23:339559&r=sea |
| By: | Sania Sawale (Bridgewater-Raritan High School, Bridgewater, NJ, United States); Daniel B. Kurz (Scranton, PA, United States) |
| Abstract: | In the Summer of 1966, older Los Angeles residents grew angry over the crowds of teens and young adults in the downtown area. Despite the fact that few services were offered to these young people who faced the possibility of being drafted in the Vietnam War, the older population decided that the first response to the overcrowding issue should be police intervention. In what is now regarded as a complete overreaction, the Los Angeles Police Department (LAPD) violently challenged, attacked, arrested, and dispersed thousands of young people who otherwise were not acting in a harmful manner. Where these young people would wind up, where they would go to deal with their issues, and their need for socialization was irrelevant. They were treated as if they had invaded the community and that their lives mattered little. In reaction to these violent clashes, singer/songwriter Stephen Stills penned what would be one of the most influential protest anthems of the Modern Era: “For What It’s Worth†. The purpose of this study is to show how this 1966 song was not only an instant hit, but also impacted activists over the past half-century, as it was covered by famous artists in diverse social reform movements, in protests, and even in a political party convention. This study will explore how this one protest song represents the overall impact of music on activist culture, and strives to inspire and inform readers about the power of music in activism. |
| Keywords: | Los Angeles Police Department (LAPD), young people, disenfranchisement, draft, “For What It’s Worth†, cover, public demonstration |
| Date: | 2023–08 |
| URL: | http://d.repec.org/n?u=RePEc:smo:raiswp:0302&r=sea |
| By: | Susan M. Collins |
| Abstract: | The U.S. economy overall performed remarkably well in 2023: inflation slowed notably, while job growth and output growth remained quite strong. Importantly, the pandemic recovery has been unusually equitable, with employment gains having been broadly shared across racial and ethnic groups. |
| Date: | 2024–02–28 |
| URL: | http://d.repec.org/n?u=RePEc:fip:fedbsp:97875&r=sea |
| By: | Tan, Yeng-May (Xiamen University Malaysia); Autio, Erkko (Imperial College Business School); Estrada, Gemma (Asian Development Bank); Park, Donghyun (Asian Development Bank); Uddin, Gazi Salah (Linköping University) |
| Abstract: | Information and communication technology or digital technology helped entrepreneurs survive the coronavirus disease (COVID-19) restrictions. For instance, they shifted to online sales in the face of stringent lockdowns and mobility constraints. The enhanced resilience of entrepreneurs, in turn, contributed to the resilience of the broader economy. This study explores the relationship between the quality of a country’s digital entrepreneurial ecosystem, measured by the Global Index of Digital Entrepreneurship Systems (GIDES), and its economic performance during the COVID-19 pandemic. Based on a cross-country analysis of 100 global economies, we find a positive association between GIDES and economic performance during the pandemic. This suggests that the quality of a country’s environment for digital entrepreneurs can strengthen its economic resilience even in the face of major shocks. |
| Keywords: | digital entrepreneurship; digitalization; entrepreneurial ecosystem; economic resilience; COVID-19; Global Index of Digital Entrepreneurship Systems (GIDES) |
| JEL: | F62 L26 L86 |
| Date: | 2024–02–16 |
| URL: | http://d.repec.org/n?u=RePEc:ris:adbewp:0716&r=sea |
| By: | Nazif Durmaz; Henry Thompson |
| Abstract: | This paper simulates the constant cost trade model with labor inputs for three and five regions and products aggregated from the World Input-Output Database. The regions start with America, Asia, and Europe trading Resources, Manufactures, and Services. Each region maximizes Cobb-Douglas utility based on global consumption shares subject to balanced trade and global material balance. Simulated autarky and trade with the rest of the world lead to the full model with multiple potential equilibria. Diversified exports and import competition characterize the trade patterns with the gains from trade relative to autarky up to 20% for the five regions. |
| Keywords: | comparative advantage; relative prices; simulation; constant cost trade |
| JEL: | F10 F14 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:abn:wpaper:auwp2024-03&r=sea |
| By: | Charles Yuji Horioka (Research Institute for Economics and Business Administration, Kobe University, Asian Growth Research Institute, Institute of Social and Economic Research, Osaka University, JAPAN, School of Economics, University of the Philippines, Diliman, PHILIPPINES, and National Bureau of Economic Research, JAPAN) |
| Abstract: | The finding of Feldstein and Horioka (1980) that domestic saving and domestic investment are highly correlated across countries despite the rapid globalization and liberalization of financial markets in recent decades has been regarded as a Puzzle or Paradox. However, in this paper, we show that countries as a whole may not be able to transfer their capital abroad and that the Feldstein-Horioka Finding of domestic saving and domestic investment being highly correlated across countries may arise even if there are no frictions in financial markets and even if individual investors can freely transfer their capital abroad if there are frictions in goods markets such as transport costs, tariffs, nontariff barriers, the cost of regulatory compliance, etc. In fact, there is evidence that frictions in goods markets are a more serious impediment to countries as a whole being able to transfer their capital abroad than frictions in financial markets, especially in the short run. |
| Keywords: | Capital controls; Fallacy of composition; Feldstein-Horioka finding; Feldstein-Horioka Puzzle or Paradox; Frictions in financial markets; Frictions in goods markets; Global interest rate; Globalization and liberalization of financial markets; Interest parity; Interest rate equalization; International capital flows; International capital mobility; Saving-investment correlations; Saving retention coefficient; Trade costs; Trade frictions |
| JEL: | F15 F21 F32 F36 F41 G15 |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:kob:dpaper:dp2024-03&r=sea |
| By: | Marjan Petreski; Stefan Tanevski; Alejandro D. Jacobo |
| Abstract: | Using a Taylor rule amended with official reserves movements, we derive country-specific monetary shocks and employ a local projections-estimator for tracking gender-disaggregated labor-market responses in 99 developing economies from 2009 to 2021. Results show that women experience more negative post-shock employment responses than men, contributing to a deepening of the gender gaps on the labor market. After the shock, women leave the labor market more so than men, which results in an apparently intact or even improved unemployment outcome for women. We find limited evidence of sector-specific reaction to interest rates. Additionally, we identify an intense worsening of women-s position on the labor market in high-growth environments as well under monetary policy tightening. Developing Asia and Latin America experience the most significant detrimental effects on women's employment, Africa exhibits a slower manifestation of the monetary shocks-impact and developing Europe shows the mildest effects. |
| Date: | 2024–02 |
| URL: | http://d.repec.org/n?u=RePEc:arx:papers:2402.05729&r=sea |