nep-sea New Economics Papers
on South East Asia
Issue of 2024‒05‒27
twenty-two papers chosen by
Kavita Iyengar, Asian Development Bank

  1. Employment Formalization in Indonesia: Role of Parents’ Employment Mobility Toward Children’s Employment Mobility By Ruslan, Kadir; Sukma, Weni Lidya
  2. Behind the Slow Start: An Assessment of Early Childhood Care and Development in the Philippines By Ulep, Valerie Gilbert T.; Casas, Lyle Daryll D.; Bagas, Joy; Manuel, Aaron Carlos G.; Mendoza, John Paulo D.; Dela Luna, Kim Leonard G.
  3. Assessing the Impact of Jajar Legowo Planting System on Wetland Paddy Productivity and Income of Farmers in Indonesia By Prasetyo, Octavia Rizky; Kadir, Kadir
  4. Income Inequality by Gender in Malaysia By Jia Qi Cheong
  5. Does Farm Size Matter for Food Security Among Agricultural Households? Analysis of Indonesia’s Agricultural Integrated Survey Results By Ruslan, Kadir; Prasetyo, Octavia Rizky
  6. War Causes Religiosity: Gravestone Evidence from the Vietnam Draft Lottery By Mill, Wladislaw; Ebert, Tobias; Berkessel, Jana; Jonsson, Thorsteinn; Lehmann, Sune; Gebauer, Jochen
  7. Formulation of an Assessment Tool on Basic Service-Level Standards for Resettlement Projects By Ballesteros, Marife M.; Lorenzo, Pauline Joy M.; Ramos, Tatum P.; Ancheta, Jenica A.; Rodil, Amillah S.
  8. Air quality valuation using online surveys in three Asian megacities By Tan-Soo, Jie-Sheng; Finkelstein, Eric; Qin, Ping; Jeuland, Marc; Pattanayak, Subhrendu; Zhang, Xiaobing
  9. Impact of COVID-19 Pandemic on the Financial Performance of Healthcare Firms listed on Thailand Stock Exchange By Ek-anong Tangrukwaraskul; Kiriya Kulchanarat
  10. Rethinking Taxation in the Digital Economy: Approaches to Harnessing Online Markets By Bañez, Emerson S.
  11. Heterogeneity in Shadow Prices of Water Pollutants: A Study of the Seafood Processing Industry in Vietnam By Nam, Pham Khanh; Man, Pham Nhu; Thuy, Truong Dang
  13. Insights into Economic Charter Change and the Case for Services Reform By Serafica, Ramonette B.
  14. A growth-friendly and inclusive green transition strategy for Thailand By Kosuke Suzuki; Jens Matthias Arnold; Jean Chateau; Supatra Sripumphet; Wilailuk Poolee
  15. Natural or Reclaimed Coastal Areas? The Role of Environmental Awareness in Supporting Coastal Ecotourism By Azreen Rozainee Abdullah
  16. Deconstructing deglobalization: the future of trade is in intermediate services By Baldwin, Richard; Freeman, Rebecca; Theodorakopoulos, Angelos
  17. Can foraging for earthworms significantly reduce global famine in a catastrophe? By Miller, Henry; Mulhall, James; Pfau, Lou; Palm, Rachel; Denkenberger, David
  18. Why Does Working from Home Vary Across Countries and People? By Pablo Zarate; Mathias Dolls; Steven J. Davis; Nicholas Bloom; Jose Maria Barrero; Cevat Giray Aksoy
  19. The Pitfalls of Protectionism: Import Substitution vs. Export-Oriented Industrial Policy By Reda Cherif; Fuad Hasanov
  20. Extractive industries: imperatives, opportunities, and dilemmas in the net-zero transition By Tony Addison; Alan R. Roe
  21. How You Pay Drives What You Choose: Health Savings Accounts versus Cash in Health Insurance Plan Choice By Jonathan Gruber; Mengyun M. Lin; Haoming Liu; Junjian Yi
  22. Hitting the High Notes: Orchestras' Funding Models By Salvaggio, Salvino A.

  1. By: Ruslan, Kadir; Sukma, Weni Lidya
    Abstract: This study aims to analyze the impact of parents’ employment status mobility on the children’s employment status mobility. In doing so, we applied a two-stage multinomial logistic regression model. In this research, employment status mobility refers to a mobility status from informal to formal jobs and vice versa. Using data from the Indonesian Family Life Survey (IFLS) for the period 2007 and 2014, the profile of the Indonesian workforce was dominated by stayers. The estimation results of multinomial logistic regression indicate that only fathers’ employment status mobility has a significant effect on the children’s employment status mobility, where fathers who are stayers and experiencing upward mobility will provide greater opportunities for their children to be stayers and fewer opportunities to experience downward mobility. Moreover, the employment status mobility of mothers does not have a significant impact on their children’s employment mobility. Our study points out the pivotal role of fathers in influencing employment formalization in Indonesia. Our findings could be valuable inputs for policy-making regarding employment formalization in Indonesia.
    Keywords: formal, informal, Recommendation 204, parents’employment, job mobility, upward mobility, downward mobility
    JEL: J2 J21 J24 J62
    Date: 2023–04–02
  2. By: Ulep, Valerie Gilbert T.; Casas, Lyle Daryll D.; Bagas, Joy; Manuel, Aaron Carlos G.; Mendoza, John Paulo D.; Dela Luna, Kim Leonard G.
    Abstract: This report assesses the Early Childhood Care and Development (ECCD) in the Philippines, aiming to support the Second Congressional Commission on Education (EDCOM2) of the Philippine Congress with empirical evidence for programmatic and legislative reforms. Our assessment uses a comprehensive framework that analyzes the health, nutrition, and early education outcomes of Filipino children and examines their access to essential health, nutrition, and early education services. We analyze demand- and supply-side inputs such as governance, financing, infrastructure, and human resources to identify factors that explain the poor and inequitable access to these basic services. Throughout our analysis, we highlight key principles for optimizing ECCD returns: (1) timely provision of crucial interventions during critical life stages, (2) ensuring comprehensive access to essential services, and (3) upholding quality standards with far-reaching impacts on health, nutrition, and education outcomes. Comments to this paper are welcome within 60 days from the date of posting. Email
    Keywords: EDCOM;Second Congressional Commission on Education;Early Childhood Care and Development;ECCD
    Date: 2024
  3. By: Prasetyo, Octavia Rizky; Kadir, Kadir
    Abstract: This study aims to assess whether Jajar Legowo planting system has a significant impact on increasing the productivity of wetland paddy and the income of the paddy growers in Indonesia. We applied a linear regression model to the results of the 2017 National Cost Structure of Paddy Cultivation Household Survey conducted by BPS-Statistics Indonesia in all 34 provinces. The main contribution of this study is to provide an evaluation of the performance of Jajar Legowo planting system in increasing paddy productivity and income of the farmers. Therefore, our research can be used by the government as a reference for future improvement of the implementation of Jajar Legowo cultivation system. Our findings show that the new cultivation system has a significant impact on increasing the productivity of wetland paddy. Without controlling for other variables affecting productivity, the estimation result pointed out that on average, the new cultivation system can increase productivity by about 10 per cent. However, after controlling for other variables (the farmers and other cultivations characteristics), the magnitude decreases to around 5 per cent. Moreover, our estimation results also show that the income of the farmers rises by around 12 per cent by implementing Jajar Legowo. Our study indicates that the implementation of Jajar Legowo planting system results in better efficiency than that of the conventional one.
    Keywords: Jajar Legowo, productivity, the income of farmers
    JEL: Q1 Q12 Q16 Q18
    Date: 2023–08–11
  4. By: Jia Qi Cheong (Faculty of Business, Economics and Accountancy, Universiti Malaysia Sabah, Malaysia Author-2-Name: Suresh Narayanan Author-2-Workplace-Name: "School of Social Sciences, Universiti Sains Malaysia, Gelugor, Malaysia. " Author-3-Name: Author-3-Workplace-Name: Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:)
    Abstract: " Objective - Studies related to the distribution of income are very important for national development as they are related to efforts to reduce the gender earnings disparity. Women have overcome many challenges within the labour market, but gender income differentials persist in Malaysia. Methodology/Technique - Reducing gender income differentials is one ingredient for sustained economic growth. This article examines the gender income distribution in several submarkets within the Malaysian labour market and discusses some initiatives to reduce income disparities therein. The data used here were drawn from the Department of Statistics and cover the 10-year period from 2010 to 2019. Findings - Data show evidence that there exists gender earning disparity in Malaysia along the lines of education, specifically tertiary education, and ethnicity, specifically in Indian and Chinese communities. Novelty - This paper proposed a few policy recommendations with the hope that they will aid in the effort of reducing gender income differentials, which are a critical share of the country's human capital development. Type of Paper - Empirical"
    Keywords: Differentials, Gender, Income, Labour, Malaysia.
    JEL: M41 M49
    Date: 2024–03–31
  5. By: Ruslan, Kadir; Prasetyo, Octavia Rizky
    Abstract: Most agricultural households in Indonesia are small-scale farmers making them prone to food insecurity. Until recently, no study has assessed the impact of farm size and sociodemographic characteristics on the food insecurity status of agricultural households using a nationwide agricultural household survey in Indonesia. Our study aims to address this gap by utilizing the results of the first Indonesian Agricultural Integrated Survey conducted by BPS in 2021. Applying the Rasch Model, Multinomial Logistic Regression, and Ordinary Least Squares Regression, we found that the farm size has a positive impact in lowering the likelihood of experiencing moderate or severe levels of food insecurity among agricultural households. Our study also found that agricultural households with a higher probability of being food insecure are characterized by having higher members of households, relying only on agricultural activities for their livelihood, lower education attainment of household heads, and being led by female farmers.
    Keywords: food security, FIES, AGRIS, small-scale food producers
    JEL: Q1 Q12 Q15 Q18
    Date: 2023–10–10
  6. By: Mill, Wladislaw; Ebert, Tobias; Berkessel, Jana; Jonsson, Thorsteinn; Lehmann, Sune; Gebauer, Jochen
    Abstract: Does war make people more religious? Answers to this classic question are dominated by the lack of causality. We exploit the Vietnam Draft Lottery -- a natural experiment that drafted male U.S. citizens into military service during the Vietnam War -- to conclusively show that war increases religiosity. We measure religiosity via religious imagery on web-scraped photographs of hundreds of thousands of gravestones of deceased U.S. Americans using a tailor-made convolutional neural network. Our analysis provides compelling and robust evidence that war indeed increases religiosity: people who were randomly drafted into war are at least 20 % more likely to have religious gravestones. This effect sets in almost immediately, persists even after 50 years, and generalizes across space and societal strata.
    Date: 2024–04–17
  7. By: Ballesteros, Marife M.; Lorenzo, Pauline Joy M.; Ramos, Tatum P.; Ancheta, Jenica A.; Rodil, Amillah S.
    Abstract: The Philippine government has promoted and institutionalized the delivery of basic services in resettlement sites through various flagship housing programs and the issuance of policies, guidelines, and/or standards. Existing literature suggests, however, that most resettlement sites lack the basic services and the social and economic opportunities to ensure the development of liveable and sustainable communities. The study notes that resettlement projects must be carefully planned in terms of both the processes and the physical design. Government laws and policies must be translated into clear minimum standards that are adopted at the national and subnational level. To formulate these standards, the authors reviewed existing local and international policies and guidelines on resettlement housing and examined the good practices in selected resettlement projects and among project implementers. The policy mapping and case study led to the identification of policy and implementation gaps, which were used in the development and refinement of the assessment tool for resettlement planning. Comments to this paper are welcome within 60 days from the date of posting. Email
    Keywords: social housing;resettlement projects;settlement planning;resettlement standards
    Date: 2024
  8. By: Tan-Soo, Jie-Sheng (Lee Kuan Yew School of Public Policy, National University of Singapore); Finkelstein, Eric (Duke-NUS Medical School, Singapore); Qin, Ping (School of Applied Economics, Renmin University of China); Jeuland, Marc (Sanford School of Public Policy, Duke University, USA); Pattanayak, Subhrendu (Sanford School of Public Policy, Duke University, USA); Zhang, Xiaobing (School of Economics, Renmin University of China)
    Abstract: Due to worsening air quality across many cities in developing countries, there is an urgent need to consider more aggressive air pollution control measures. Valuation of the benefits of clean air is crucial for establishing the rationale for such policies, but is methodologically challenging, often expensive, and therefore remains limited. This study assesses the potential for more standardized and cost-effective measurement of the demand for air quality improvements, applying a contingent valuation procedure via online surveys, in three Asian megacities facing severe but varying pollution problems – Beijing, Delhi, and Jakarta. The study’s primary contribution is to demonstrate the viability of this approach, which significantly enhances comparability of valuations and their drivers across locations, and thereby has great potential for informing policy analysis and targeting of specific interventions. A second contribution is to supply sorely needed data on the benefits of clean air in these three particular Asian cities, which collectively have a population of about 50 million people. The annual willingness-to-pay for air quality to reach national standards is estimated to be US$150 in Jakarta (where average PM2.5 concentration, at 45µg/m3, exceeds national standards by the smallest amount, specifically a factor of 1.3), US$1845 in Beijing (PM2.5 at 58µg/m3, 1.7 times the standard), and US$1760 in Delhi (PM2.5 at 133µg/m3, 3.3 times the standard). The methods deployed could be applied more widely to construct a worldwide database of comparable air quality valuations.
    Keywords: Low and middle-income countries; air pollution; contingent valuation
    JEL: D00
    Date: 2023–05–30
  9. By: Ek-anong Tangrukwaraskul (Kasetsart University); Kiriya Kulchanarat (Kasetsart University)
    Abstract: Healthcare services in Thailand are profoundly promoted and aimed to be Asia?s capital of health and wellness since 2015. Revenues from medical tourists accelerated growth in the private hospitals, many of those are listed on the stock exchange. During the COVID-19 pandemic, economic activities including travel and tourism, were brought to a halt resulting in a decline in the number of medical tourists. However, domestic demand for medical services significantly increased. This paper investigates how healthcare firms listed in Thailand stock market perform before and during the pandemic. Panel data during the year 2015 ? 2018 represents pre-pandemic period and the year 2019 ? 2022 represents pandemic period. Data from financial reports was analyzed using pooled ordinary least square (OLS) regression. Effects of firms? operation towards their financial performance before and during the pandemic are examined.
    Keywords: Financial Performance, Financial Ratio, Healthcare Sector, the Stock Exchange of Thailand, COVID-19 pandemic
    JEL: F65 L25 L80
  10. By: Bañez, Emerson S.
    Abstract: The study aims to evaluate the country’s legal framework for taxing digital transactions, specifically the extent to which provisions of the law can map onto the value of digital markets. Based on findings on the structure of the digital commerce value chain and its possible interactions with both current and proposed tax regimes, the study provides four policy prescriptions: (a) optimize existing tax authority over platforms, (b) have a digital-ready tax administration, (c) expand the scope for investigation and liability, and (d) engage at the international level. Nonresident providers are the ones that have gained the most from digital markets while minimizing the tax impact of their activities. The Philippines should continue to explore multilateral options for the reallocation of taxing rights as well as address the issue of “base erosion and profit shifting”. Such options include regional tax treaties and the Organisation for Economic Co-operation and Development’s framework treaty. Efforts at negotiating and crafting the provisions should take into account the Philippines’ trading power relative to other countries, and its comparative ability to exercise jurisdiction.
    Keywords: digital taxation;taxes;digital commerce;tax law;tax administration
    Date: 2024
  11. By: Nam, Pham Khanh (School of Economics, University of Economics HCMC); Man, Pham Nhu (The Joint Doctorate Programme, University of Economics HCMC and Erasmus University Rotterdam); Thuy, Truong Dang (School of Economics, University of Economics HCMC)
    Abstract: This study examines the marginal abatement costs (MACs) of three water pollutants (BOD, COD, and TSS) in the seafood processing industry in the Mekong River Delta of Vietnam. Using data on production activities and pollutant concentration, we estimate the MACs and analyze their relationship with firm characteristics. The results reveal significant heterogeneity in MACs, with younger firms, less labor-intensive firms, LLCs and joint-stock companies, firms located in seashore or riverside areas, and those with ISO or other certifications exhibiting lower MACs. These findings suggest that a uniform standard or environmental fee may not efficiently address pollutant reduction. Instead, a tradable permit system could be a more effective approach.
    Keywords: seafood; water pollutants; marginal abatement cost; directional distance function
    JEL: Q22
    Date: 2023–09–23
  12. By: Tharinee Pongsupatt (Faculty of Business Administration, Kasetsart University); Apichat Pongsupatt (Faculty of Business Administration, Kasetsart University)
    Abstract: The objective of this paper is to examine factors affecting capital structure in the banking sector. Two categories of explanatory variables consist of internal and external factors. Internal factors were divided into six variables including profitability, owner, market value, size, tangible assets, and intangible assets. External factors are economic determinants which are made up of interest rate and gross domestic product. Capital structure is measured by debt ratio. The study employed multiple regressions and panel data analysis in the capital structure in the banking sector. The population are 11 banks listed in Thailand stock exchange. The data is collected quarterly from the period of 2012 ? 2021 with total of 40 quarters. Secondary data was collected through Thailand Stock Exchange website and analyzed using multiple regression model with statistic testing at the significant level of 0.05. The result shows that the firm?s market value, tangibility, firm?s size and interest rate are positively associated with capital structure while firm?s profitability and ownership are negatively associated with leverage. The study recommends the bank managers, financial analysts and policy maker should better understanding about the factors which may influence the capital structure of Thailand banking sector.
    Keywords: Capital Structure, Banking Sector, Leverage, Panel Data
    JEL: M19 M41 C12
  13. By: Serafica, Ramonette B.
    Abstract: This essay discusses the rationale for economic charter change through the lens of services reform and identifies three issues with the current proposal of Congress: the retention of the legislative franchise requirement, the exclusion of mass media from the scope of the amendments, and the choice of the liberalization approach. To harness the full potential of services as an engine of economic growth and development in the 21st century, the paper recommends addressing these issues and removing all the specific restrictions that have been locked in the 1987 Constitution, namely: Art. XII Sec. 11 (public utility), Art. XII Sec. 14 (practice of all professions), Art. XIV Sec. 4(2) (educational institutions); Art. XVI Sec. 11(1) (mass media); and Art. XVI Sec. 11(2) (advertising industry). Liberalization must be pursued as part of a broader structural reform agenda. This involves improving regulations and strengthening institutions that will foster an economic environment that supports robust competition, encourages innovation, and facilitates the efficient allocation of resources. The reforms will contribute to higher productivity, which the Constitution itself recognizes “as the key to raising the quality of life for all, especially the underprivileged” (Art. XII Sec.1). Comments to this paper are welcome within 60 days from the date of posting. Email
    Keywords: services;restrictions;trade;investment;regulation
    Date: 2024
  14. By: Kosuke Suzuki; Jens Matthias Arnold; Jean Chateau; Supatra Sripumphet; Wilailuk Poolee
    Abstract: This paper discusses Thailand’s green growth policy framework with a focus on finding the right policy mix and institutional setup. Given that the economy is in a process of catching up with advanced economies, particular emphasis will need to be placed on making the green transition conducive to economic growth and further improvements in living standards. Implementing Thailand’s current pledge to achieve carbon neutrality by 2050 and net zero emissions by 2065 will require substantial policy changes. While the expansion of natural gas use over the past years has helped Thailand to contain increases of carbon emissions, reversing the still rising emissions calls for a strong shift towards renewable energy sources. Thailand has already started these efforts. The use of biofuels has increased in road transport, and other renewable energy sources have also expanded. Investments into greener production technologies and a more responsible use of resources have received strong attention. However, most current initiatives are voluntary, which will not be sufficient to achieve the country’s climate goals. As Thailand is highly vulnerable to climate change risks, policies that promote adaptation to climate change will also play an important role.
    Keywords: carbon pricing, energy efficiency, green growth, green innovation, renewable energy sources, Thailand
    JEL: D58 H23 O38 O44 O53 Q48 Q58
    Date: 2024–05–07
  15. By: Azreen Rozainee Abdullah ("School of Hospitality, Tourism and Culinary Arts, UOW Malaysia KDU Penang University College, Malaysia" Author-2-Name: Yue Fen Hoe Author-2-Workplace-Name: "UOW Malaysia KDU Penang University College, 32, Jalan Anson, 10400 George Town, Malaysia " Author-3-Name: Author-3-Workplace-Name: Author-4-Name: Author-4-Workplace-Name: Author-5-Name: Author-5-Workplace-Name: Author-6-Name: Author-6-Workplace-Name: Author-7-Name: Author-7-Workplace-Name: Author-8-Name: Author-8-Workplace-Name:)
    Abstract: " Objective - This study was undertaken to analyze the relationship between perceived negative impacts on land reclamation (LR) and support for coastal ecotourism within fishing communities (CE), with environmental awareness (EA) as the mediating variable. Methodology - This study utilized a convenience sampling technique to distribute questionnaires to 400 domestic tourists in coastal areas. Data analysis was conducted using Hayes's PROCESS in IBM Statistical Package for Social Science (SPSS v25.0). Findings - Results showed that LR had a direct effect on CE [β= 0.183; 95% confidence interval (CI) 0.095–0.270; P= 0.000
    Keywords: Sustainable development; land reclamation; coastal ecotourism; environment awareness
    JEL: Q5 O13 P28 R5
    Date: 2024–03–31
  16. By: Baldwin, Richard; Freeman, Rebecca; Theodorakopoulos, Angelos
    Abstract: This article contests the idea that the world has entered a post-globalization era. It argues that rapid globalization has evolved rather than ended. Even though the global goods trade-to-GDP ratio reached its zenith 15 years ago, the rapid rise of services trade has persisted and now accounts for one-fifth of international commerce. The paper makes a statistical and logical case that the future of trade lies in services trade—especially trade in intermediate services.
    Keywords: deglobalization; intermediate services; intermediate trade; service-led development; services trade
    JEL: F10 F13 F15
    Date: 2024–01–01
  17. By: Miller, Henry; Mulhall, James; Pfau, Lou; Palm, Rachel; Denkenberger, David
    Abstract: Earthworms are a resilient group of species that thrive in a variety of habitats through feeding on decaying organic matter, and are therefore predicted to survive an abrupt sunlight reduction scenario, such as a nuclear winter. In this study, the feasibility and cost-effectiveness of foraging earthworms to reduce global famine following a reduction in sunlight with or without global catastrophic loss of infrastructure was considered. Methods for extracting worms were analysed, along with scalability, climate-related barriers to foraging, and pre-consumption processing requirements. Estimations of the global earthworm resource suggest it could provide three years of the protein needs of the current world population, at a median cost of 353 USD·kg−1 dry carbohydrate equivalent or a mean cost of 1200 (90% confidence interval: 32–8500) USD·kg−1 dry carbohydrate equivalent. This is more expensive than other resilient food options and, moreover, earthworms may bioaccumulate heavy metals and other contaminants, presenting a health risk. While costs appear high, there are a number of uncertainties that remain to be addressed. In particular, earthworm biomass distribution may be higher in specific locations. Real-world news reports of earthworm foraging in China and Vietnam detail high yields, suggesting a targeted approach to foraging in the most abundant regions could provide a more feasible application of earthworms as a resilient food source.
    Date: 2024–04–19
  18. By: Pablo Zarate; Mathias Dolls; Steven J. Davis; Nicholas Bloom; Jose Maria Barrero; Cevat Giray Aksoy
    Abstract: We use two surveys to assess why work from home (WFH) varies so much across countries and people. A measure of cultural individualism accounts for about one-third of the cross-country variation in WFH rates. Australia, Canada, the UK, and the US score highly on individualism and WFH rates, whereas Asian countries score low on both. Other factors such as cumulative lockdown stringency, population density, industry mix, and GDP per capita also matter, but they account for less of the variation. When looking across individual workers in the United States, we find that industry mix, population density and lockdown severity help account for current WFH rates, as does the partisan leaning of the county in which the worker resides. We conclude that multiple factors influence WFH rates, and technological feasibility is only one of them.
    JEL: E0 G0 L0
    Date: 2024–04
  19. By: Reda Cherif; Fuad Hasanov
    Abstract: Industrial policies pursued in many developing countries in the 1950s-1970s largely failed while the industrial policies of the Asian Miracles succeeded. We argue that a key factor of success is industrial policy with export orientation in contrast to import substitution. Exporting encouraged competition, economies of scale, innovation, and local integration and provided market signals to policymakers. Even in a large market such as India, import substitution policies in the automotive industry failed because of micromanagement and misaligned incentives. We also analyze the risk tradeoffs involved in various industrial policy strategies and their implications on the 21st century industrial policies. While state interventions may be needed to develop some new capabilities and industries, trade protectionism is neither a necessary nor a sufficient tool and will most likely be counterproductive.
    Keywords: Industrial policy; export orientation; import substitution; growth; diversification; innovation; technology
    Date: 2024–04–26
  20. By: Tony Addison; Alan R. Roe
    Abstract: The extractives industries are highly controversial but remain vitally important in much of the developing world. This paper considers their role in reducing energy poverty and discusses scenarios for the future of the global markets for oil, gas, and metals (emphasizing the increasing importance of Asia). It then provides a snapshot of the increasing dependence of many developing countries on the extractives sector and uses that analysis to provide a perspective on the new opportunities arising from the global net-zero transition.
    Keywords: Climate, Commodities, Extractive industries, Mining, Natural gas, Oil
    Date: 2024
  21. By: Jonathan Gruber; Mengyun M. Lin; Haoming Liu; Junjian Yi
    Abstract: A marked feature of health insurance plan choice is inconsistent choices through the overweighting of premiums relative to out-of-pocket spending. We show that this source of inconsistency disappears when both types of spending come from the same source of designated funds. We focus on the MediSave program in Singapore, whereby residents can pay their health insurance premiums with cash or MediSave funds, but are subject to limits that vary by age and over time. By exploiting variations in those limits, we consistently find that when individuals are able to pay their health insurance premiums with MediSave funds, they are less price sensitive and more willing to enroll in more generous plans—which results in lower spending levels and variance, and lower adverse selection in the market. The results suggest a strong role for mental accounting in insurance decisions.
    JEL: I13
    Date: 2024–04
  22. By: Salvaggio, Salvino A.
    Abstract: This brief note explores the varied funding models for orchestras worldwide, illustrating how historical, cultural, political, and economic factors shape their financial strategies. Orchestras in Europe often benefit from substantial government support, viewing cultural pursuits as public goods, whereas those in the United States predominantly rely on private funding due to limited public subsidies. A hybrid model is also discussed, prevalent in the UK, Asia, and Australia, which combines governmental support with private sources to ensure financial stability and uphold the cultural significance of orchestral music. The note emphasises the need for skilled management across these diverse funding environments to sustain long-term viability and achieve artistic goals.
    Date: 2024–04–28

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