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We index full-text journals with open access platforms in our NEW Asia-Studies Full-Text Plus section. Here is the list of journals available.

 
 

 

 
 

 

 
 

 

 
 

December, 2016 Current Topics

 

Source

 

 

 

 

Trends in Southeast Asia 2016 #17: New Context of Vietnam’s National Security Challenges. Vietnam’s concept of national security is based on “the survival of the ruling regime that acts in the name of the country”. This is unlike in many countries where national security relates merely to the survival of the state. Because the challenges to Vietnam’s national security are perceived as challenges and threats to the ruling regime, the concept of national security tends to focus on the internal dimension of national security. The Mid-term National Congress of the Communist Party of Vietnam (CPV) in 1994 listed “four threats” facing the country, namely, the danger of falling behind neighbouring countries economically; the threat of “peaceful evolution”; deviation from socialism; and corruption and bureaucratism. None of them, except for peaceful evolution, comes from outside...

 

ISEAS

Trends in Southeast Asia 2016 #16: The Johor Sultanate: Rise or Re-emergence?. Malaysia's sultans have in recent years taken on an increasingly discernible role in the country's political life. However, rather than something new, the rulers' resurgence should be viewed as part of a longer term negotiation over the precise boundaries of their role. The Sultan of Johor, Ibrahim Ismail, is arguably the most visible of the country's rulers at present. Since ascending to the throne in 2010, he has constructed a prominent media profile and been active in many areas of policy-making. He reinstated the Islamic week, suggested expanding the role of the Johor Military Force, and promoted a unique state identity. Planned initiatives by him include a Bank of Johor, a large-scale low-cost housing scheme, as well as a maglev train linking the eastern and western parts of the state's southern coast...

 

ISEAS

Duterte, Mindanao, and Political Culture, November 2016. Alan Tidwell, Director of the Center for Australian, New Zealand, and Pacific Studies at Georgetown University explains that "Arguably the Philippines was in crisis even before the election of Duterte. His election can be seen, in part, as a reaction to that crisis, as much as it can be seen as contributing to it.”

 

EWC

Reforming China's Arms Procurement System: An Effort to be Closely Watched, November 2016. Yoram Evron, Visiting Fellow at the East-West Center in Washington, explains that “The PLA reforms are facing unavoidable challenges of organizational inertia and resistance by commanders and units that lose their power. In addition, President Xi still faces opposition within the party.”

 

EWC

Land Tenure Security and Policy Tensions in Myanmar (Burma), October 2016. After 50 years of military rule, in 2011 the Thein Sein government's reforms in Myanmar (Burma) entailed a reengagement with the international community, including major international financial organizations, donors, nongovernmental organizations (NGOs), and civil society organizations (CSOs). The government's social and economic development policies, which were strongly influenced by this engagement, encouraged private domestic and foreign investment in agriculture to create wealth and reduce poverty. Land legislation allied to these policies was designed to improve land tenure security, yet it had harmful effects on the majority of the population employed in agriculture, including smallholder farmers and ethnic communities...

 

EWC

Patents and Technology Transfer through Trade and the Role of Regional Trade Agreements, October 2016. Regional trade agreements can have powerful impacts on technology transfer (TT), primarily through their effects on trade in high-technology goods and services, foreign direct investment (FDI), and licensing, all of which are key channels of information diffusion. In that context, regional trade agreements (RTAs) and mega-regionals such as the TPP embody considerable promise for direct expansion of TT, if primarily within the agreement. Moreover, recent econometric evidence largely finds that each of these flows responds positively to strengthened patent laws and other intellectual property rights (IPR), though this conclusion must be conditioned on a variety of factors (Maskus, 2012). These basic observations suggest that there could be an important complementarity between the formation of trade agreements and their IPR standards, a critical question that has not yet attracted much investigation...

 

EWC

ASEAN+3 Bond Market Guide 2016: Hong Kong, China, Published 2016. The ASEAN+3 Bond Market Guide is a comprehensive explanation of the region’s bond markets. It provides various information such as the history, legal and regulatory framework, specific characteristics of the market, trading and transaction, and other relevant information. The Hong Kong, China Bond Market Guide is an outcome of the strong support and contributions of ASEAN+3 Bond Market Forum members and experts, particularly from Hong Kong, China. The report should be recognized as a collective good to support bond market development among ASEAN+3 members.

 

ADB

Asia Bond Monitor, November 2016. Emerging East Asian bond yields rose for nearly all markets and for most tenors between 31 October and 18 November amid uncertainty over future US economic policy and the likelihood of a Federal Reserve rate hike in December.
Given rising uncertainty, most central banks in emerging East Asia maintained their existing monetary policies in order to wait for greater clarity regarding US economic policy and its potential impacts on global financial markets.

 

ADB

Spillovers of United States and People’s Republic of China Shocks on Small Open Economies: The Case of Indonesia, November 2016. This paper examines the impact of certain external shocks originating from the US and the PRC on Indonesia as a small open economy. The spillover effects of tapering off, an interest rate hike, exchange rate devaluation, and real gross domestic product (GDP) are analyzed. Two versions of the global vector autoregression model are employed, which covers 33 countries and considers both financial and trade relations among countries. Spillover assessments are conducted through impulse responses with 1,000 bootstrap replications, and compared to the responses of peer countries...

 

ADB

Impacts of Universal Health Coverage: Financing, Income Inequality, and Social Welfare, November 2016. This paper studies the impact of tax-financed universal health coverage schemes on macroeconomic aspects of labor supply, asset holding, inequality, and welfare, while taking into account features common to developing economies, such as informal employment and tax avoidance, by constructing a dynamic stochastic general equilibrium model with heterogeneous agents. Agents have different education levels, employment statuses, and idiosyncratic shocks. Given three tax financing options, calibration results based on the Thai economy suggest that the financing options matter for outcomes both at the aggregate and disaggregate levels. Universal health coverage, financed by labor income tax revenue, could reduce inequality due to its large redistributive role...

 

ADB

Reforms to the European Union Financial Supervisory and Regulatory Architecture and Their Implications for Asia, November 2016. European Union (EU) countries offer a unique experience of financial regulatory and supervisory integration, complementing various other European integration efforts following the Second World War. Financial regulatory and supervisory integration was a very slow process before 2008, despite significant cross-border integration, especially of wholesale financial markets. However, the policy framework proved inadequate in the context of the major financial crisis in the EU starting in 2007, and especially in the euro area after 2010. That crisis triggered major changes to European financial regulation and to the financial supervisory architecture, most prominently with the creation of three new European supervisory authorities in 2011 and the gradual establishment of European banking union starting in 2012...

 

ADB

Land Policy and Urbanization in the People’s Republic of China, November 2016. We explore the relationship between land policies and urbanization in the PRC. We analyze the land policies associated with urbanization and summarize findings related to central and local government involvement in the process of urbanization. In particular, we explore the relationship between urbanization and land leasing. We find that the urbanization rate and the land leasing revenue are positively related. Land leasing provides financial support for PRC urbanization, but damages the interest of landless peasants. Especially in the west, population urbanization lags behind land urbanization, resulting in much higher land and house prices in the east than those in inland PRC...

 

ADB

Fiscal Decentralization and Local Budget Deficits in Viet Nam: An Empirical Analysis, November 2016 . Since 1975, Viet Nam has gradually decentralized more fiscal responsibilities to local authorities. This study has two objectives: (i) to take stock of the current institutional framework for intergovernmental fiscal relations in Viet Nam, and (ii) to empirically assess the debt sustainability of local governments in Viet Nam. The empirical analysis uses two estimation methods: (i) fully modified ordinary least squares (OLS) to estimate the long-term correlations between co-integration equations, including vectors of co-integration variables, and stochastic regressor innovations; and (ii) fiscal reaction equations at the provincial level, based upon the Bohn (2008) model. The empirical results suggest that deficit levels are generally sustainable at the local le

 

ADB

Measuring the Impact of Vulnerability on the Number of Poor: A New Methodology with Empirical Illustrations, November 2016. Given a poverty line, a person who is non-poor (poor) currently may not be treated as non-poor (poor) in a vulnerable situation. The poverty line is adjusted in the presence of vulnerability such that the utility of a person at the current poverty line and that at the adjusted poverty line become identical. Using an additive model of vulnerability, it is shown that if the utility function obeys constant Arrow-Pratt absolute risk aversion, then the harmonized poverty line is a simple absolute augmentation of the current poverty line. On the other hand, under a multiplicative model of vulnerability with constant Arrow-Pratt relative risk aversion, the revised poverty line is a simple relative augmentation of the current poverty line...

 

ADB

A Poverty Line Contingent on Reference Groups: Implications for the Extent of Poverty in some Asian Countries, November 2016. This paper estimates the number of poor in various countries in Asia by applying an “amalgam poverty line”, which is a weighted average of an absolute poverty line (such as $1.25 per day or $1.45 per day) and a reference income (such as the mean or the median income). The number of poor is computed under various values of the weight applied to the absolute poverty line, namely 100%, 90%, 66%, and 50%. The paper provides estimates of the headcount ratio and poverty gap ratio under the various scenarios for 25 different countries or regions examined

 

ADB

Concepts and Measurement of Vulnerability to Poverty and Other Issues: A Review of Literature, November 2016. The body of literature on vulnerability is growing. We classify studies on the concepts and measurements of vulnerability to poverty into welfarist, expected poverty, and axiomatic approaches. Empirical studies on vulnerability to poverty in Asia and elsewhere show that poverty and vulnerability are related but different, and that key determinants of vulnerability often include education and location. We also briefly review other areas of vulnerability analysis such as vulnerability to climate change and recommend policies.

 

ADB

An Asian Poverty Line? Issues and Options, November 2016. Given Asia’s record of rapid economic growth and the conceptual and empirical problems of the current international income poverty line (“dollar-a-day”), this paper discusses whether there is merit to develop an Asia-specific poverty line that addresses some of the shortcomings of the dollar-a-day line and additionally considers Asia’s particular economic situation. We consider various ways of creating an Asia-specific poverty line, including an Asia-specific international income poverty line (using purchasing-power parity [PPP] adjusted dollars) that is derived from Asian national poverty lines...

 

ADB

Structural Change and Income Distribution: Accounting for Regional Inequality in the People’s Republic of China and Its Changes during 1952–2012, October 2016. This study explores the relationship between inequality and structural transformation by constructing a theoretical model, developing analytical frameworks, and implementing a case study. The general equilibrium model we develop demonstrates that inequality exhibits an inverted U shape as structural change proceeds from onset to completion...

 

ADB

Costs and Benefits of Urbanization: The Indian Case, October 2016. Urbanization has both benefits and costs. In a market economy, the trade-off between benefits and costs determines the level, speed, and pace of urbanization. This paper summarizes research findings on how urbanization enhances productivity and economic growth in both rural and urban sectors, taking the case of India...

 

ADB

Looking Beyond Conventional Intergovernmental Fiscal Frameworks: Principles, Realities, and Neglected Issues, October 2016. Fiscal decentralization and intergovernmental fiscal relations reform have become nearly ubiquitous in developing countries. Performance, however, has often been disappointing in terms of both policy formulation and outcomes. The dynamics underlying these results have been poorly researched. Available literature focuses heavily on policy and institutional design concerns framed by public finance, fiscal federalism, and public management principles...

 

ADB

Frameworks for Central–Local Government Relations and Fiscal Sustainability, October 2016. This paper reviews alternative models of the relationship between central and local governments, and provides an overview and assessment of different financing mechanisms for local governments, including tax revenues, central government transfers, bank loans, and bond issuance, with a focus on the context of emerging Asian economies. The paper also reviews financing mechanisms for local governments and mechanisms for maintaining fiscal stability and sustainability at both the central and local government levels. Based upon the evidence on the decentralization process in Asia, it proposes some policy implications for improving central-local government relations and fiscal sustainability

 

ADB

Sanitation and Sustainable Development in Japan, Published 2016. Selected projects in Kitakyushu City, Kobe City, Saitama City, Saitama Shintoshin, and Tadotsu Town provide examples of how robust sanitation systems can deliver economic and environmental benefits. This publication documents Japan’s experience in pursuing sustainable sanitation solutions in the context of economic development. Five case studies illustrate how sound sanitation policies are essential in achieving a nation’s growth. Produced by ADB in cooperation with Japan Sanitation Consortium, this publication also documents key policies and laws that enable the integration of sewerage systems and wastewater treatment facilities in development plans. It shares learnings on how the sanitation challenge can be met, not only at the community, but also at the national level.

 

ADB

Toward a National Eco-Compensation Regulation in the People’s Republic of China, Published 2016. ADB and the National Development and Reform Commission of the People’s Republic of China (PRC) undertook a study on eco-compensation regulations development in the country. The study examined the PRC’s theory, practice, and legislation governing eco-compensation in selected ecological areas to map out the scope and content of a national eco-compensation regulation. Pursuit of its higher agenda of ecological civilization and development of its national eco-compensation regulation will require the PRC to capture the diversity that subnational projects have tapped, integrate its experience with eco-compensation at all levels of government into a coherent national regulatory framework, and harmonize this framework with existing laws and other legal instruments.

 

ADB

2016 CTI Report to Ministers, November 2016. The CTI Annual Report to Ministers for 2016 outlines the Committee’s accomplishments and recommendations in the key priority areas of APEC’s Trade and Investment Liberalization and Facilitation (TILF) agenda in support of APEC’s 2016 priorities under the theme of “Quality Growth and Human Development”. Collective Action Plans (CAPs) in various Osaka Action Agenda (OAA) issue areas, which were first reported in 1996, continued to be the Committee’s main vehicle for advancing APEC’s trade and investment agenda.

 

APEC

Fact sheet: 2016 APEC Economic Policy Report, November 2016. This 2-page fact sheet provides an overview of the 2016 APEC Economic Policy Report (AEPR) which aims to promote greater understanding of the wide ranging benefits of service sector reforms.

 

APEC

2016 APEC Economic Policy Report, November 2016. The 2016 APEC Economic Policy Report, ‘Structural Reform and Services’, tackles a subject at the very heart of current growth, productivity and economic inclusion challenges facing the APEC region. The report consists of a policy framework chapter, which concludes with a set of important recommendations, and five case studies that provide an in depth analysis of the economic impact of specific services sector reforms:
• China: retail services
• Indonesia: air transport services
• Japan: financial services
• New Zealand: electricity retail services
• Chinese Taipei: testing and certification services

 

APEC

Fact sheet: 2016 APEC Senior Officials' Report on Economic and Technical Cooperation, November 2016. This 2-page fact sheet of the 2016 APEC Senior Officials' Report on Economic and Technical Cooperation highlights a summary of activities undertaken by SCE fora and an overview on ECOTECH project funding during the year.

 

APEC

APEC Senior Officials' Report on Economic and Technical Cooperation 2016, November 2016. This report attempts to capture some highlights of the activities at the Working Group/Task Forces level. It includes a summary of activities undertaken by SCE fora supporting the existing ECOTECH priorities based on the 2016 SCE Fora Report and other updates available. A brief overview on ECOTECH project funding has been also provided.

 

APEC

APEC's Bogor Goals Dashboard, November 2016. The purpose of the Dashboard is to provide easy-to-understand figures to track the advancement in areas critical to promoting greater regional economic integration, such as liberalization and facilitation of trade and investment. The intention is to display a set of harmonized indicators laying out the evolution across time of certain aspects of trade and investment liberalization and facilitation in quantitative terms...

 

APEC

Second-Term Review of APEC's Progress towards the Bogor Goals - Progress by Economy, November 2016. The analysis by individual economy highlighted their recent progress and identifying areas in which economies could make further improvements. These reports by economy were prepared with information from their Individual Action Plans and data from other sources such as international organizations and domestic government institutions...

 

APEC

Second-Term Review of APEC's Progress towards the Bogor Goals: APEC Region, November 2016. The Second-Term Review of Progress towards the Bogor Goals includes two sections: 1) the general assessment of the progress of the APEC region as a whole; and 2) the review of each economy’s recent progress in the areas included in the Osaka Action Agenda...

 

APEC

APEC Regional Trends Analysis Rethinking Skills Development in the Digital Age, November 2016. This issue of APEC Regional Trends Analysis features two chapters: (1) Rethinking Skills Development in the Digital Age; and (2) Continued Growth amid Persistent Global Weakness...

 

APEC

APEC in Charts 2016. An annual PSU publication, APEC in Charts provides a graphical overview of the APEC region’s economic, trade and investment performance as well as in areas related to APEC 2016 priorities.

 

APEC

APEC Supply Chain Connectivity Framework Action Plan 2010-2015: Final Assessment, November 2016. The report presents the final assessment results of the APEC Supply Chain Connectivity Framework Action Plan (SCFAP). The SCFAP aims to improve the performance of supply chains in the APEC region, with a target of 10 percent reduction in time, cost and uncertainty by 2015. The results show that some progress has been made in reducing time and cost for traders. Nevertheless, gaps remain and these should be addressed in the next phase of the SCFAP. The second phase should also address emerging areas in the global supply chain such as e-commerce, digital customs and cybersecurity.

 

APEC

Survey of Regulatory Measures in Environmental Services, November 2016. Prepared in support of the APEC Environmental Services Action Plan, this report presents an overview of regulatory measures for environmental services in APEC economies. It includes a summary of the scope and coverage of services and measures; an overview of the institutional frameworks, the incidence of regulatory measures and the extent of liberalisation in trade agreements of environmental services identified across APEC economies; and summary outcomes of measures identified in each APEC economy. While the findings show considerable variations across the member economies, some trends are apparent. One such trend is that while not all economies have committed to market opening of environmental services in the WTO GATS, all have improved on WTO liberalisation outcomes in subsequent FTAs.

 

APEC

Exploring Quantitative Indicators for Effective Monitoring of APEC-wide Progress on Structural Reform under RAASR 2016-2020, October 2016. This report proposes possible external baseline indicators to be used to monitor APEC-wide progress on structural reform under the Renewed APEC Agenda for Structural Reform (RAASR). The report is structured as follows: Chapter 1 gives a brief evolution of structural reform initiatives in APEC; Chapter 2 provides general overview of how the review process of RAASR can possibly be conducted as    well as the thought process behind the identification of the proposed external indicators; Chapter 3 lists these indicators and provide additional details for each, including the relevant RAASR pillars addressed by the indicator, possible actions at economy level that may impact the indicator, its strengths and limitations; and Chapter 4 concludes the report.

 

APEC

Enabling Legal Compliance & Cross-Border Data Transfers with the APEC Cross-Border Privacy Rules (CBPR), July 2016. This report summarizes the outcomes of the CBPR workshop held in Singapore outlining the purpose, benefits and workings of the CBPR system

 

APEC

 

 

 

 

 

 

 

 

November, 2016

 

 

 

 

 

 

Good Practices on Gender Diversity in Corporate Leadership for Growth, November 2016. This report presents the outcome of a survey that was undertaken to establish how women directors enhance corporate values in companies within the APEC region. The mechanism of improving corporate values through the appointment of women directors were demonstrated. Case studies were also conducted through interviews with leading companies in APEC (Canada; Japan; Korea; Malaysia; Mexico; the Philippines; and Viet Nam) that are considered to have achieved positive impact on growth through gender diversity. 

 

APEC

Independent Assessment Report of the Policy Partnership on Women and the Economy (PPWE), November 2016. This report presents the results of an independent assessment of the APEC Policy Partnership for Women and the Economy (PPWE) to ensure economic and technical cooperation (ECOTECH) activities are targeted, effective, efficient, and make the best use of resources. This independent assessment also recommends actions to ensure that PPWE is responsive to APEC’s current priorities and contributes to the achievement of its overall vision and objectives.

 

APEC

Independent Assessment Report of the Agricultural Technical Cooperation Working Group (ATCWG) and the High Level Policy Dialogue on Agricultural Biotechnology (HLPDAB), November 2016.
APEC sought an independent review of the operations and structure of the ATCWG and HLPDAB in order to ensure that their economic and technical cooperation (ECOTECH) activities are targeted, effective, efficient, and make the best use of resources. This report recommends actions to ensure that the ATCWG and HLPDAB respond to APEC’s current priorities and contribute to the achievement of its overall vision and objectives.

 

APEC

Exploration on Strengthening of Maritime Connectivity, November 2016. This report attempts to identify the issues and challenges faced by APEC economies in the process of developing maritime connectivity and puts forward recommendations aimed at future efforts to be made by APEC. It outlines possible directions for addressing the issues on port congestion, shipment information sharing, trade liberalization, trade facilitation and relation with IMO rule. In addition, this study also covers the perspective of GVCs and is expected to be contributive to the implementation of “APEC Strategic Blueprint for Promoting Global Value Chains Development and Cooperation”.

 

APEC

APEC SME Internationalization Model Indices: Development and Application, November 2016. Internationalization is important for SMEs, and needs for government support policies are increasing in order to facilitate and diversify SME internationalization. As such, it is essential to objectively assess SME internationalization levels using model indices, on which potential problems in internationalization must be addressed. In this respect, APEC has stressed the importance of studies on the development of model indices and data collection regarding SME internationalization...

 

APEC

Cyber-Energy Nexus Study: Best Practices, Opportunities, and Challenges for Smart Energy Technology, July 2016. This timely study fills a number of important gaps in understanding current APEC energy grid cybersecurity efforts and presents a number of related collaborative efforts for future examination. Smart energy technology and networked control systems are becoming integral parts of the energy value chain globally. These critical energy infrastructure assets are vulnerable to cyber and physical attacks and lack secure interoperability policies and standards. The U.S. Department of Energy, together with Singapore Energy Market Authority, led the first Asia-Pacific Economic Cooperation (APEC) study exploring smart energy technology cyber security trends, policies and standards in the region...

 

APEC

Seminar "Social Inclusion of People with Disabilities through Access to Telecommunications", June 2016. This report summarizes the outcomes and recommendations from the seminar, “Social Inclusion of People with Disabilities through Access to Telecommunications”, which addressed topics related to i) Access to ICT as a fundamental right of PWD; ii) Policies and regulations on access to telecommunications for PWD; iii) Best practices on regulating access to telecommunications for PWD; and iv) Achievements, difficulties and challenges for PWD in the APEC Region.

 

APEC

Trends in Southeast Asia 2016 #15: The Geopolitics of Xi Jinping’s Chinese Dream: Problems and Prospects. Viewing China's current relations with neighbours in the East Asian littoral from geopolitical and macrohistorical perspectives enables us to evaluate China's current prospects for advancing its "peaceful rise". Today the ruling Communist Party of China (CPC) articulates a Chinese Dream that envisions a new age of Asian predominance to match China's memory of past golden ages. To realize this dream, China seeks geopolitical predominance in the East Asian littoral. Judging from the foreign policy goals and behaviour pursued by Xi Jinping, China appears likely to govern the region according to its core interests even when this may require other states to give up their lawful sovereign rights and prerogatives...

 

ISEAS

America's 'Maginot Line': A Study of Static Border Security in an Age of Agile and Innovative Threats, November 2016. Borders and border security are once again becoming increasingly important to the nation state. Many take a default position that our coastline is our border and that border security involves merely police, security guards and immigration or customs officials. But Australia’s geography no longer provides the physical barrier from the outside world that it once did. This strategy provides a case study analysis of post-9/11 changes to US border security policies. It examines each of America’s different borders: the friendly northern borders, maritime borders, and the militarised southern border. It provides recommendations for Australia’s border security.

 

ASPI

ASPI at 15, October 2016. ASPI was registered as a wholly government-owned company on 22 August 2001, but it was several years earlier when Ian McLachlan, the first Defence Minister of the Howard government, saw the need to establish an institute to provide an alternate source of advice on defence and strategic policy. The articles in this Strategic Insights paper, originally published on the ASPI Strategist website in August 2016, come from a number
of individuals who deeply wanted the institute to succeed and indeed were prepared to invest their own effort to make it happen. While turning 15 is a good time to reflect on growth and early experiences, ASPI’s most productive years are still ahead of it.

 

ASPI

The Wattle and the Olive: A New Chapter in Australia and Israel Working Together, October 2016. The relationship between Australia and the small Jewish state is warm and close, despite occasional problems. Australia has always been seen as friendly by Israel, although it’s rarely been a major focus of policy efforts in Jerusalem. While there’s a mutual recognition of shared values and a reasonably close bilateral working relationship, there hasn’t been sufficient recognition given by either state to how each contributes to the other’s national interests. This paper considers common strategic interests, cooperation on traditional security issues and non-traditional security matters and puts forward recommendations for enhancing the relationship.

 

ASPI

Economic Migration and Australia in the 21st Century, October 2016. This Analysis assesses the benefits and challenges of contemporary economic immigration in Australia. While the policy arrangements underpinning economic immigration have undergone significant changes in recent decades, Australian governments have managed this transition successfully. Increased intakes of skilled immigrants have assisted structural transitions in Australia’s economy, delivered tangible benefits in addressing challenges related to population, and produced positive effects in relation to fiscal impact, productivity, and immigrants’ employment and labour market outcomes...

 

Lowy

Myanmar’s Evolving Relations: The NLD in Government, October 2016. The National League for Democracy’s (NLD) landslide victory in Myanmar’s November 2015 general election prompted celebrations around the world. Following a nervous, but successful, transition to ensure the transfer of power, the first five months in office of the NLD government were an opportunity for Myanmar’s democratically elected administration to reinforce its legitimacy and set a foundation for long-term policy success. This paper charts developments from the transfer of power up until the eve of the Union Peace Conference – 21st Century Panglong—a significant step in the peace process—on August 30, 2016. It describes the formation of the NLD government, the changing role of the legislature, the institutionalizing of Aung San Suu Kyi’s position “above the president,” as well as accords specific attention to the peace process (including Rakhine state affairs) as a top policy priority for the NLD as it sought to revitalize efforts initiated under the previous administration...

 

ISDP

Under the Radar: Georgia’s October 2016 Elections, October 2016. Georgia will hold parliamentary elections on October 8, 2016, which will be key to deciding the country’s future development and its strategic trajectory. Economic problems, especially unemployment and prices, dominate the minds of the Georgian electorate. A large majority thinks the country is headed the wrong direction. The Georgian Dream government has lost the support it had four years ago; yet the electorate appears to lay equal if not more blame for Georgia’s problems on the predecessor UNM government. Palpable anger and frustration is visible in surveys, where practically all political figures have negative approval ratings. This makes the election an opportunity for “third” parties and new po-litical forces, if they are given the space to take advantage. These range from reliably pro-Western forces like the Free Democrats; to populists like the Labor party; unknown quantities like the State for People alli-ance; and outright anti-Western ones like the Alliance of Patriots...

 

ISDP

Key Indicators for Asia and the Pacific 2016 (Highlights, and Full Report):
  • Part I: Sustainable Development Goals Trends and Tables
  • Part II: Regional Trends and Tables
  • Part III: Global Value Chains

Key Indicators for Asia and the Pacific 2016 covers 48 economies: Afghanistan, Armenia, Australia, Azerbaijan, Bangladesh, Bhutan, Brunei Darussalam, Cambodia, China, Cook Islands, Fiji Islands, Georgia, Hong Kong, India, Indonesia, Japan, Kazakhstan, Kiribati, Republic of Korea, Kyrgyz Republic, Lao, Malaysia, Maldives, Marshall Islands, Micronesia, Mongolia, Myanmar, Nauru, Nepal, New Zealand, Pakistan, Palau, Papua New Guinea, Philippines, Samoa, Singapore, Solomon Islands, Sri Lanka, Taipei, Tajikistan, Thailand, Timor-Leste, Tonga, Turkmenistan, Tuvalu, Uzbekistan, Vanuatu, and Viet Nam.

 

ADB

Monetary Authority of Singapore: Macroeconomic Review, Volume XV, Issue 2, October 2016 (Full Report, Presentation Slides for Briefing):  

MAS

The High Stakes for Southeast Asia of the 2016 U.S. Presidential Election, October 2016. Asad Latif, Associate Fellow at the ISEAS-Yusof Ishak Institute in Singapore, explains that “Southeast Asians hope that Americans choose their next leader wisely to build on enduring ties with the United States.”

 

EWC

What Happens in the South China Sea, Matters in the East China Sea: Japan’s Reaction to the South China Sea Arbitration Ruling, October 2016. Matthew Short, researcher at the East-West Center in Washington, explains that “Pushing Japan to be a more proactive member of the international system, Abe has advocated for and employed Japan as a guardian of global commons, especially the maritime commons, to ensure they remain open and beneficial to everyone.”

 

EWC

Australia’s Contentious Strategy in the South China Sea, October 2016. Orrie Johan, researcher at the East-West Center in Washington, explains that “Australia does not have to choose between the U.S. and China. Turnbull seems to be following this approach by showing the U.S. that it supports American freedom of navigation operations and by showing China that Australia will not participate in any FONOPs itself.”

 

EWC

A China Perspective: North Korea's Nuclear Tests Reshaping Northeast Asian Security, October 2016. Liang Yabin, Research Fellow of the Pangoal Institution and Associate Professor at the Party School of the Central Committee of the Communist Party of China, explains that “Nuclear weapons greatly improve the geo-strategic position of the DPRK in Northeast Asia, which also increases the possibility of reaching a compromise and exchange of interests between the U.S. and the DPRK.”

 

EWC

China's Bold Strategy for Semiconductors--Zero-Sum Game or Catalyst for Cooperation? September 2016. This paper explores whether China's bold strategy for semiconductors will give rise to a zero-sum game or whether it will enhance cooperation that will benefit from increased innovation in China. As the world's largest producer and exporter of electronic products, China is by far the top market for integrated circuits (ICs), accounting for nearly a third of global demand. Yet its ability to design and produce this critical input remains seriously constrained. Despite decades and many billions of dollars of state-led investment, China's domestic production of semiconductors covers less than 13% of the country's demand...

 

EWC

International Trade and Exchange Rate, October 2016. From a longer-term perspective, however, global trade volume has not deviated much from its long-term trend. Postglobal financial crisis, the exchange rate volatility has grown significantly. Countries with appreciating currencies show rising import intensity and significant export growth. However, the impact of currency depreciation on trade has become much smaller postglobal financial crisis. All these analyses suggest that competitive devaluations may not spur exports as much as earlier expected—and it may further undermine the nascent recovery of international trade.

 

ADB

Dealing with Quantitative Easing Spillovers in East Asia: The Role of Institutions and Macroprudential Policy, October 2016. This paper explores the impact of advanced countries’ quantitative easing on emerging market economies (EMEs) and how macroprudential policy and good governance play a role in preventing potential financial vulnerabilities. We used confidential locational bank statistics data from the Bank for International Settlements to examine whether quantitative easing has caused an appreciation of EMEs’ currencies and how it has done so, and whether this has in turn boosted foreign-currency borrowing, thus making EMEs vulnerable to balance sheet and maturity mismatch problems...

 

ADB

Human Capital and Urbanization in the People’s Republic of China, October 2016. The relationship between human capital development and urbanization in the People’s Republic of China (PRC) is explored, highlighting the institutional factors of the hukou system and a decentralized fiscal system. Educated workers disproportionately reside in urban areas and in large cities. Returns to education are significantly higher in urban areas relative to those in rural areas, as well as in large, educated cities relative to small, less-educated cities. In addition, the external returns to education in urban areas are at least comparable to the magnitude of private returns...

 

ADB

Housing System and Urbanization in the People’s Republic of China, October 2016. This paper examines how transformations in the housing system in the People’s Republic of China (PRC) influence the PRC pattern of urbanization. It first discusses how housing policies determine the supply and demand of housing in urban PRC and subsequently analyzes how the changes in the mode of housing provision have affected rural–urban migration, intercity labor mobility, the financing of urban infrastructure, and general urban economic activities in the PRC. The PRC experience of the interaction between the housing system and urbanization is unique, but it clearly indicates that an effective housing system that can responsively provide adequate and affordable housing is crucial to the success of inclusive and equitable urbanization.

 

ADB

Government Decentralization Program in Indonesia, October 2016. Without much preparation, Indonesia, in 2000, at a stroke replaced the previous system of centralized government and development planning with a wide range of decentralization programs. The reforms gave greater authority, political power, and financial resources directly to regencies and municipalities, bypassing the provinces. The powers transferred include those of executing a wide range of responsibilities in the areas of health, primary and middle-level education, public works, environment, communication, transport, agriculture, manufacturing, and other economic sectors...

 

ADB

Decline in Oil Prices and the Negative Interest Rate Policy in Japan, October 2016. In April 2013, the Bank of Japan (BOJ) introduced an inflation target of 2% with the aim of overcoming deflation and achieving sustainable economic growth. But due to lower international oil prices it was unable to achieve this target and was forced to take further measures. Hence, in February 2016, the BOJ adopted a negative interest rate policy by massively increasing the money supply through purchasing long-term Japanese government bonds (JGBs). The BOJ had previously only purchased short-term government bonds, a policy that flattened the yield curve of JGBs. On the one hand, banks reduced the number of government bonds they purchased because short-term bond yields had become negative. Even the interest rates of long-term government bonds up to 15 years became negative...

 

ADB

Case Study of Central and Local Government Finance in Japan, September 2016. This paper aims to provide an overview of the basics of Japan’s local public administration and finance system and to analyze how Japan’s municipalities restore their fiscal balance after a fiscal shock. In Japan, local governments play a major role in redistribution. Combined with regional disparities in tax capacities and an inflexible local tax system, there is a large vertical fiscal gap in Japan between the central and local governments—a gap that necessitates the transfer of funds from central to local governments. Under this system, the fiscal adjustments in Japan’s municipalities occur mainly via changes in government investment, and they account for 63%–95% of adjustments in permanent unit innovations in grants and own-source revenue. In contrast to the role of expenditure, the municipalities’ own-source revenue plays a limited role in balancing the local budget...

 

ADB

Improving Financial Inclusion in Asia and the Pacific: Constraints, Applicability, and Lessons from Digital Financial Services, September 2016. The paper focuses on the challenge of understanding new consumer risks which arise when using DFS and how financial consumer protection frameworks can be strengthened to address these risks. It also includes case studies of countries’ approaches to financial consumer protection and DFS in Asia and the Pacific. The countries reviewed include the Philippines, Malaysia, Papua New Guinea, and Fiji. These case studies highlight a common trend across countries—financial consumer protection frameworks are being viewed as one component of broader national financial inclusion strategies. Frameworks are being strengthened as part of a heightened focus on financial education and by incorporating the latest research on financial inclusion and on how best to reach the unbanked.

 

ADB

The Housing Challenge in Emerging Asia: Options and Solutions, Published 2016. The Housing Challenge in Emerging Asia: Options and Solutions provides new insights and ideas to best design and implement housing policies aimed at improving access to affordable and adequate housing. The book offers an innovative theoretical framework to conceptualize and analyze various housing policies. It also critically reviews housing policies of various countries and draws lessons for others. The countries studied include advanced economies within and outside Asia, such as Japan, the Republic of Korea, Singapore, Switzerland, the United Kingdom, and the United States, as well as emerging countries within Asia, such as the People’s Republic of China and India.

 

ADB

Gender Equality and Women’s Rights in Myanmar: A Situation Analysis, Published 2016. Myanmar is making historical progressive reforms. Rapid political, economic, and social transition is taking the country and its 51.4 million citizens in new directions. If the reforms are to equally benefit women and men and girls and boys, fundamental changes are needed in how women and their needs are included in Myanmar’s new governance and in policy, planning, and decision-making processes...

 

ADB

The Emergence of Pacific Urban Villages: Urbanization Trends in the Pacific Islands, Published 2016. Village-like settlements such as squatter and informal settlements are seen as a type of urban village. The report examines the evolution of different types of settlement commonly known as native or traditional villages, and the more recent squatter and informal settlements. It looks at the role these and other urban villages play in shaping and making Pacific towns and cities and presents key actions that Pacific countries and development partners need to consider as part of urban and national development plans while achieving a more equitable distribution of the benefits of urbanization.

 

ADB

Case Study on the Role of Services Trade in Global Value Chains: Telecommunications in Papua New Guinea, September 2016. This case study is one out of the four which examines the role of services in global value chains (GVCs), particularly the effects market-opening services development have had on the economy and GVCs. This case study examines the effects of the deregulation of Papua New Guinea’s (PNG) mobile telecommunications sector, a process which began in 2007. It is estimated that the effects of liberalisation in this sector include a boost to GDP of up to 2.3% and total cost savings of 2% to 5% for businesses. Mobile telecommunications have also helped deliver improvements in safety and financial transparency...

 

APEC

Case Study on the Role of Services Trade in Global Value Chains: Transport Services in Chile, September 2016. This case study is one out of the four which examines the role of services in global value chains (GVCs), particularly the effects market-opening services development have had on the economy and GVCs. Focusing on the transport services in Chile, this case study finds that Chile has undertaken substantial transport sector liberalization over recent years. On the basis of an econometric model, it is concluded that the combination of transport sector reform efforts in Chile perhaps contributed to increase GVC performance by around 7%...

 

APEC

Manual on Good Practices to Improve the Supply Chain of Marine Products from the Subsistence Fishery Sector in the Asia Pacific Region, September 2016. Small-scale fisheries are highly dynamic, labour intensive and usually not integrated with local marketing arrangements. Small-scale fishers, their families and communities are critically dependent on fish for their food and livelihood security and are extremely vulnerable to external pressures and shocks. Products originating from subsistence or small-scale fisheries require good handling practices along the supply chain since up to 30% of the catch in some cases is lost due to poor handling practices. This manual is intended for use as a training aid to help introduce and explain post-harvest fishing topics to subsistence fisher folk and others actors in the coastal fisheries value chain...

 

APEC

APEC Workshop on Promoting SMEs' Integration into Regional and Global Environmental Goods and Services Markets, July 2016. This report outlines the presentations and discussions of the APEC Workshop on Promoting SMEs’ Integration into Regional and Global Environmental Goods and Services (EGS) Markets. Initiated by Viet Nam, the workshop provided an overview of the regional and global EGS markets; challenges, opportunities, and critical issues for facilitating SMEs in environmental goods and services markets; advantages of trade agreements on place; experiences in promoting SMEs’ participation into regional and global EGS markets in terms of regulations, incentives, facilitation, critical issues, etc; and case studies of SMEs’ integration into regional and global EGS markets.

 

APEC

Promoting the Participation of Small and Medium Enterprises in the Global Textile and Apparel Value Chains, June 2016. The studies provide insights on the textile and apparel industry of the four APEC member economies, including a diagnostic of the current state-of-play of SMEs integration into GVCs, government policies and programs, specific barriers that SMEs face upon attempting to join GVCs, and a series of recommendations and concrete action plans. The studies identify and categorize numerous institutions and frameworks created to support SMEs indirectly or directly, and how SMEs utilize government supports and engage with the rules of new model of trade integration.

 

APEC

Compendium of Energy Efficiency Policies of APEC Economies, April 2016. The Compendium of Energy Efficiency Policies of APEC Economies intends to promote information sharing of energy efficiency and energy conservation policies and practices across APEC economies under a common format. The report contains information on energy efficiency policies and initiatives in all APEC economies (with the exception of Papua New Guinea) based on the responses provided by each economy to a questionnaire.

 

APEC

Japanese Journal of Religious Studies 2011-2016  

Nanzan

 

 

 

 

 

 

 

 

October, 2016

 

 

 

 

 

 

Trends in Southeast Asia 2016 #14: Learning Diplomacy: Cambodia, Laos, Myanmar and Vietnam Diplomats in ASEAN. For nearly two decades, ASEAN has served as a vehicle for the postsocialist states of Cambodia, Laos, Myanmar, and Vietnam (CLMV) to seek diplomatic recognition and enmesh their economies with the dominant discourses, structures, and visions of post-Cold War capitalist modernity. In scholarly and lay understandings of how CLMV states “integrate” through ASEAN, attention has been firmly on the political, security, and economic outcomes of ASEAN-CLMV interactions, with diplomacy viewed as a passive instrument to pursue such outcomes. Such a static view of diplomacy obscures a vital mechanism in and through which these broader macro-social changes are being sought and accomplished. As they pursue modernist state projects, diplomats too must yield to experiences of learning and redefinition to express (and enable) the project of international “integration”. This paper examines such processes of learning and redefinition by studying the effects and consequences of immersion in English-based ASEAN multilateral work for the diplomats of CLMV states...

 

ISEAS

The 2016 Presidential Campaign and the Crisis of Us Foreign Policy, October 2016. The 2016 US presidential election is the most consequential election for international order since the Second World War. America’s status as a liberal superpower is on the ballot. To understand Donald Trump’s foreign policy, we must distinguish between his three core beliefs that he has held for many decades and rarely if ever waivered from, the central themes of his campaign, and other issues. His core beliefs are opposition to America’s alliance arrangements, opposition to free trade, and support for authoritarianism, particularly in Russia. If he is elected president and governs in a manner consistent with these beliefs, the United States will be transformed from the leader of a liberal international order into a rogue superpower that withdraws from its international commitments, undermines the open global economy, and partners with Putin’s Russia...

 

Lowy

Foreign Fighters in Syria and Iraq: the Day After, September 2016. In the last five years, Western counterterrorism agencies have focused largely on radicalised individuals going to Syria and Iraq. Now and in the immediate future they will need to focus more on those coming out. The prospective collapse of Islamic State’s ‘caliphate’ is likely to increase the number of foreign fighters leaving its territory. More generally, the foreign fighter fallout from the years of conflict in Syria and Iraq will echo that of previous conflicts such as Afghanistan and Bosnia. The fighters who survive and escape will be just as ideologically motivated as those that emerged from Afghanistan and Bosnia, but will be more operationally experienced, have more lethal skills and be better networked than their predecessors.In the last five years, Western counterterrorism agencies have focused largely on radicalised individuals going to Syria and Iraq...

 

Lowy

From Hollywood to Bollywood? Recasting Australia’s Indo/Pacific Strategic Geography, October 2016. Australia’s strategic geography is being revolutionised. China and India’s rising maritime power, coupled with a Eurasia-wide ‘connectivity revolution’, is drawing together two formerly disparate theatres: the Asia–Pacific and the Indian Ocean region. This report argues against the Indo-Pacific idea and presents the case for a more regionally differentiated ‘Indo/Pacific’ alternative. The hyphen at the heart of the Indo-Pacific aggregates two distinct regional security orders that have differed widely in their historical evolution and that today present different challenges and regional order-building opportunities for Australia...

 

ASPI

AWD Combat System: an Upgrade for the Aegis, September 2016. This paper examines the delivery of the AWDs and the combat system to date, and explores what upgrades might be possible in the stated period. We’re about to spend a lot of money completing the current three AWDs, only to turn around and spend a lot more money upgrading them. If the government wants to spend $4–5 billion on improving naval capability over the next 12 years, there might be more useful ways to spend the money.

 

ASPI

MAS Survey of Professional Forecasters, September 2016. The September 2016 Survey was sent out on 11 August 2016 to a total of 27 economists and analysts who closely monitor the Singapore economy. This report reflects the views received from 22 respondents (a response rate of 81.5%) and does not represent MAS’ views or forecasts. GDP growth in Q2 2016 was higher than expected
The Singapore economy expanded by 2.1% in Q2 2016, which was slightly above the median forecast of 2.0% reported in the June 2016 Survey.
The economy is forecast to expand by 1.8% in 2016
For 2016 as a whole, the respondents expect the economy to grow by 1.8%, unchanged from the previous survey.

 

MAS

Hong Kong: High Frequency Macroeconomic Forecasts Current Quarter Model: 2016Q4, October 2016. According to its High Frequency Macroeconomic Forecast, real GDP is estimated to grow by 1.4% in 16Q3, when compared with the same period in 2015, slower than the 1.7% growth in 16Q2. In 16Q4, real GDP growth is expected to improve to 2.1% when compared with the same period last year. Slowed from the 2.4% growth in 2015, we forecast Hong Kong GDP will grow by 1.5% in 2016 as a whole, upward revised by 0.3 percentage points comparing to our previous forecast.

 

HKU

International Criminal Justice and Southeast Asia: Approaches To Ending Impunity for Mass Atrocities, September 2016. Nearly 15 years after entry into force, the UN Rome Statute of the International Criminal Court has 124 state parties, meaning that nearly two-thirds of states have joined this initiative to end impunity for the worst atrocities. Despite this global diffusion and normalization of international criminal justice, only 3 of 11 states in Southeast Asia have ratified the Statute. In response to the region's underrepresentation among ICC state parties, various governmental and nongovernmental actors have undertaken efforts to raise awareness of the Rome Statute and promote ratification in the region. However, beyond expanding the reach of the Statute, there is scope to draw upon regional experiences and potential to build a stronger foundation for an emerging regional consensus around ending impunity for mass atrocities.

 

EWC

ASEAN Security Architecture: Tension between National Interests and Regional Institutions, September 2016. Benjamin Ho, Associate Research Fellow at the S. Rajaratnam School of International Studies, Singapore, explains that “Only if Beijing is able to persuade that China’s national interests do not run contrary to those of ASEAN can an enduring and amicable relationship be forged.”

 

EWC

The Strategic Significance of the US-India, September 2016. Manjeet S. Pardesi, Asia Studies Visiting Fellow at the East-West Center in Washington, explains that “Contrary to international relations theories, the signing of the LEMOA demonstrates that India is seeking regional primacy, not hegemony, and this is compatible with America’s strategic interests in South Asia/Indian Ocean.”

 

EWC

Indonesian Islam: Neither White Knight nor Damsel in Distress, September 2016. Benjamin Nathan, former researcher at the East-West Center in Washington, explains that “The same factors that limit the usefulness of Indonesian Islam as a counterweight to extremist groups in the Middle East apply with equal strength to attempts by extremist groups in the Middle East to make inroads in Indonesia.”

 

EWC

Democracy and the Legitimacy of Indonesia’s Counter-terrorism Policy, September 2016. Abubakar Eby Hara, Asia Studies Visiting Fellow at the East-West Center in Washington, explains that “Indonesia demonstrates that in battling terrorism democracy and serious efforts to gain legitimacy from the people before taking action are still necessary as part of a grand narrative to counter ISIL.”

 

EWC

Expanded CUES: A Worthwhile Idea but Challenging Exercise? September 2016. Swee Lean Collin Koh, Research Fellow at the Institute of Defence and Strategic Studies in Singapore, explains that “The increasing activities of irregular maritime forces in the South China Sea…mean that an expanded CUES, though possible, will face an arduous and challenging road ahead.”

 

EWC

Fiscal Deficit and Fiscal Reform in Japan, September 2016. Taro Ohno, Associate Professor at Shinshu University in Japan, explains that “Japan will continue to face daunting fiscal challenges in the years ahead, and thus finding the most effective and equitable fiscal policy should be a top priority for the Japanese government.”

 

EWC

Modernizing the AFP & Duterte’s Priorities, September 2016. Charmaine Deogracias, Visiting Fellow at the East-West Center in Washington, explains that “Duterte’s leftist leanings and determination to pursue peace talks with the communists will definitely affect the military’s capability upgrade and his engagement with the U.S.”

 

EWC

Asian Development Outlook 2016: Meeting the Low-Carbon Growth Challenge (Update, Highlights) covering Central Asia, East Asia, South Asia, Southeast Asia and The Pacific. Growth has held up in developing Asia despite a difficult external environment. The region is expected to grow steadily at 5.7% in 2016 and 2017, the forecasts in this Update unchanged from Asian Development Outlook 2016. While global commodity prices have begun to rebound, inflation remains largely subdued. Consumer prices will likely rise by 2.6% in 2016 and 2.9% in 2017. Continued slow recovery in the United States, the euro area, and Japan presents a clear downside risk to the outlook. Uncertainty about the path of monetary policy in these economies, and the implications this has for capital flows, complicates macroeconomic management in developing Asia. Policy makers globally need to resist moves toward protectionism that would only undermine the recovery. By transitioning to low-carbon growth, developing Asia is poised to reap outsized rewards as an essential player in the global effort to contain climate change...

 

ADB

Asia Bond Monitor, September 2016. The report notes that yields for 2-year and 10-year local currency government bonds in emerging East Asia were mostly lower between 1 June and 15 August and stock markets in the region recorded gains as well, giving investor sentiment a lift. Over the same period, most East Asian currencies also appreciated against the US dollar, with the Korean won recording the biggest gain of 7.7%. The exception was the Chinese renminbi, which fell 0.9% during the period. While financial markets are calm, there are rising risks to emerging East Asia’s bond markets. As the sole major developed economy to show growth, the likelihood of a policy rate hike in the United States could prompt capital outflows from the region. Furthermore, the full impact of Brexit has yet to be seen and if the UK’s transition is marred by problems, volatility could return. Lastly, if negative interest rates in the EU and Japan continue, it will reduce monetary authorities’ flexibility in the event of another major financial shock. Negative rates also reduce banking profitability and can exacerbate capital inflows to emerging markets.

 

ADB

Spatial Estimation of the Nexus between the PRC’s Foreign Direct Investment and ASEAN’s Growth, September 2016. Forging closer economic relations between the People’s Republic of China (PRC) and the Association of Southeast Asian Nations (ASEAN) over the last 2 decades has contributed to building a stronger ASEAN economy. It is particularly important to know how the PRC’s foreign direct investment responds to ASEAN’s economic performance. This study investigates the causal relationship between the PRC’s foreign direct investment and economic growth among the 10 ASEAN member countries from 1995 to 2013. Panel unit root tests, a spatial panel vector autoregressive model, and spatial Granger causality are employed as empirical techniques for spatial panel estimation. The empirical results reveal that the PRC’s direct investment in ASEAN caused economic growth in ASEAN, and economic growth in ASEAN resulted in the PRC’s direct investment in ASEAN. This finding raises potentially interesting external investment policy implications.

 

ADB

Urbanization and Rural Development in the People’s Republic of China, September 2016. This paper presents research findings on how urbanization enhances productivity and economic growth in both urban and rural sectors. Through agglomeration effects, employment opportunities and income levels can largely increase. In addition, the mechanisms of sharing, matching, and learning are much stronger in cities, especially large cities. However, in the People’s Republic of China (PRC), urbanization lags far behind industrialization. Institutional barriers against rural-to-urban and interregional migration, such as the hukou system, have reduced the ability of urban growth to absorb rural labor. As for rural development, urbanization has propelled agricultural productivity, rural income, and consumption levels. Moreover, agricultural productivity is driven to a large extent by capital accumulation, through capital deepening and remittance. Agricultural organizations, urbanization, and outflow of migrant workers make it possible for large-scale production and agricultural mechanization to occur.

 

ADB

Is There a Size-Induced Market Failure in Skills Training? September 2016. A skilled and educated workforce can support the competitiveness of enterprises of all sizes. However, smaller firms may face greater challenges in developing human capital. We explore differences between smaller and larger firms in offering skills training and in hiring workers with more formal education. Drawing on a dataset of enterprises in five Asian countries, we find major size-based differences in education and training. While smaller firms train less, they also are less inclined to view an inadequately skilled workforce as a major constraint on their operations. It may be that smaller firms are content to occupy niches in a low-skills equilibrium. Our empirical results do offer the possibility, however, that a size-induced market failure in skills training may coexist with a lower regard for skills. The policy implications are not only that governments can reduce the costs for firms to train, but also that micro and small firms need to be sensitized to the benefits of skills upgrading.

 

ADB

Fiscal Equalization Schemes and Subcentral Government Borrowing, September 2016. Examining the cases of Canada, Germany, and Spain, the role played by fiscal equalization schemes in determining subnational borrowing was analyzed, and the link between regional governments’ primary fiscal balances and gross domestic product per capita was tested econometrically. The study results show that either poor or rich regions can display higher regional public borrowing on average, and these results can be linked to the institutional design of regional equalization systems in place. Particular elements, such as tax efforts and fiscal capacities, also play relevant roles in this regard. Reforms of these schemes can therefore prove instrumental in reducing regional heterogeneity in public borrowing.

 

ADB

Measuring Systemic Risk Contribution of International Mutual Funds, September 2016. This study provides new evidence of systemic risk contribution in the international mutual fund sector from 2000–2011. The empirical analysis tracks the systemic risk of 10,570 mutual funds investing internationally. The main findings suggest that the systemic risk contributions of international mutual funds are more than proportional given the fund’s size. Policy implications are discussed in terms of practicality of regulation, macroprudential approach, and risk-taking behavior of fund managers.

 

ADB

Working Conditions, Work Outcomes, and Policy in Asian Developing Countries, September 2016. This paper reviews academic studies of the causes and consequences of poor conditions in developing country garment factories with a special emphasis on causes and potential solutions for South Asia. This review provides an introduction to some of the leading academic literature and ideas that are important for understanding the persistence of poor labor practices and possible policies to address these conditions.

 

ADB

Skills and Activity Upgrading in Global Value Chains: Trends and Drivers for Asia, August 2016. This paper examines the main trends and drivers of upgrading by Asian countries in global value chains using the newly constructed ADB multiregion input–output tables in combination with occupation data. Our results suggest an ongoing specialization process in high-income Asian countries and in developing member countries toward high-skilled knowledge-intensive activities. The pace of upgrading differs across Asian countries. We use a structural decomposition method to account for the drivers of the trends observed. In particular, technological change in global value chains that is biased toward skilled activities is important in accounting for the trends observed.

 

ADB

Developing Local Currency Bond Markets in Asia, August 2016. This paper reviews the advances made in developing local currency bond markets in emerging Asia. While progress in Asian local currency markets has been remarkable, hurdles to developing the market for local currency corporate bonds remain large in the shape of market infrastructure and institutions, inconsistent policies and regulations, and—more broadly—in poor corporate governance; and cross-country variances are significant. The paper empirically investigates economic factors associated with expanding local currency bond markets and highlights the importance of macroeconomic performance and institutional strength as key areas for further reforms.

 

ADB

A Comparative Analysis of Tax Administration in Asia and the Pacific, Published 2016. The analysis and practical guidance provided in this report are based on surveys of revenue bodies conducted in 2014 and 2015, along with accompanying research of revenue bodies’ corporate documents, and guidance and diagnostic materials published by international organizations that seek to promote improvements in tax administration. The report series aims to help revenue bodies and governments identify opportunities for enhancing the operation of their tax systems by sharing internationally comparable data on aspects of tax systems and their administration. However, considerable care needs to be taken with international comparisons of tax administration setups and performance-related data...

 

ADB

Asian Development Review, Vol. 33, No. 2, 2016 (Full Report):
Special Issue on Potential Growth and Misallocation in Asia
. Asia’s future growth prospects are key to the evolution of the world economy. By the middle of this decade, Asia’s contribution to the world’s gross domestic product growth had surpassed 60%. The spectacular growth performance of the People’s Republic of China and the growth acceleration of India have had significant implications for poverty reduction and shifted the axis of the global economy toward Asia. Studying Asia’s future potential growth—including its determinants, obstacles, and policy influences—is essential to understanding the direction of the world economy.

  ADB

Asian Development Review, Vol. 33, No. 1, 2016 (Full Report). Topics discussed in this issue of the Asian Development Review include export performance of asian economies in ict-enabled services; foreign direct investment and terms of trade in south asia; preferential agreements on trade in services; monetary policy in the people's republic of china; dynamic effects of changes in the exchange rate system; international trade and risk sharing in the global rice market, and typhoon aid and development.

  ADB

APEC Workshop on Promoting the Development of Biomass Energy, September 2016. The APEC Workshop on Promoting the Development of Biomass Energy report summarizes the presentations and discussions on the state-of-play, development and trends of biomass energy development; views from various sectors on the development of biomass energy; and recommendations on the way forward...

 

APEC

A Comparative Study on Multi-field Applications of BMPV in the APEC Region, September 2016. The report compiles a comprehensive analysis of the completed project cases of BMPV application in the APEC region. It provides reviews of the experience and lessons from application of distributed BMPV systems in the region and compares their relevant policies, market development status, technical economy and typical cases, in an effort to explore the best practice for APEC economies for reference...

 

APEC

Food Industry Associations: Their Role and Value in Policy and Regulation, September 2016. This report takes a brief look at how food industry associations (or trade associations) provide a valuable mechanism for advising government on the practical and commercial implications of regulatory proposals, which can result in best practice regulation, assist government in protecting the public interest, and advance broader economic policy objectives.

 

APEC

Trends and Developments in Provisions and Outcomes of RTA/FTAs Implemented in 2015 by APEC Economies, September 2016. Following a similar report produced last year, as part of the APEC Information Sharing Mechanism on RTA/FTAs agreed in 2014, this report analyzes the evolution of the number of RTA/FTAs by APEC economies in the past two decades and examines the general structure of the RTA/FTAs that APEC economies put in force during 2015. Nine agreements were included in this report, namely: the Australia-China; Australia-Japan; Canada-Korea; Chile-Thailand; China-Korea; Korea-New Zealand; Korea-Viet Nam; Malaysia-Turkey and Mexico-Panama FTAs...

 

APEC

APEC's Ease of Doing Business - Final Assessment 2009-2015, August 2016. The final assessment of the APEC’s Ease of Doing Business (EoDB) initiative, which takes into account the period 2009-2015, looks at the performance of the APEC region using the indicators of the World Bank’s Doing Business in five priority areas, namely: 1) Starting a Business; 2) Dealing with Construction Permits; 3) Getting Credit; 4) Trading Across Borders; and 5) Enforcing Contracts...

 

APEC

Independent Assessment Report of the Telecommunications and Information Working Group (TELWG), August 2016. While TELWG has been operating for some 25 years since 1990, the last few years have seen some of the most rapid technological advances in the telecommunications sector ever. As TELWG worked towards the 2008 goal for universal access to broadband, access to, and use of smartphones, tablets and wireless devices has increased dramatically. Secure computer and mobile device networks connected to stable and reliable telecommunications infrastructure form the essential foundation for the development of the digital economy...

 

APEC

 

 

 

 

 

 

 

 

September, 2016

 

 

 

 

 

 

Trends in Southeast Asia 2016 #13: Is a New Entrepreneurial Generation Emerging in Indonesia?. The main actors in Indonesia’s business landscape have long been assumed to be the country’s Chinese minority. However, in the last decade, there has been a more visible, growing culture of entrepreneurship amongst the pribumi — “native” Indonesians. Democratic reforms, decentralization and the deregulation of certain sectors of the economy, facilitated by new information technology, have enabled a new generation of entrepreneurs to emerge outside the traditional system of political patronage. New forms of networking are taking shape within local and national business associations, networking forums, and the marketing and business media. While civil servant positions are still highly sought after, the idea of entrepreneurship and business as careers is becoming more and more popular, especially among young Indonesians. The challenge that the Joko Widodo administration faces is to encourage this new social dynamic without falling into the trap of constructing artificial support programmes. These showed themselves to be counter-productive in the past.

 

ISEAS

Asymmetric Threshold Vertical Price Transmission in Wheat and Flour Markets in Dhaka (Bangladesh): Seemingly Unrelated Regression Analysis, Published 2016. The analysis of price transmission for commodities requiring processing in vertical markets is challenged by fuzzy policy environments in the case of developing countries. However the analyses of threshold and asymmetries in price transmission at different levels of vertical markets provide a good indicator of market efficiency. The paper employs threshold cointegration that takes into account the asymmetric adjustment towards a long-run equilibrium and short-run price transmission. The paper investigates the non-linear price adjustment in short- and long-run in vertical markets of wheat and flour in Bangladesh...

 

ASARC

Assessing the South China Sea Award, August 2016. The Philippines had a major, if unenforceable, win against China in the 12 July South China Sea Arbitration under the United Nations Convention on the Law of the Sea. But the implications go beyond the bilateral dispute between China and the Philippines and it carries great legal weight as an authoritative ruling by an international judicial body. Bearing in mind that the award is legally binding only on the parties to the arbitration, there’s the question of what might this assertion mean for third countries who may opt to exercise navigational rights based on the Tribunal’s rulings on the status and maritime entitlements of features in the Spratlys...

 

ASPI

Uncertainty about Federal Reserve Policy and Its Transmission to Emerging Economies: Evidence from Twitter, September 2016. It is well known that a tightening or easing of the United States’ monetary policy affects financial markets in emerging economies. This paper argues that uncertainty about future monetary policy is a separate transmission channel. We focus on the taper tantrum episode in 2013, a period with an elevated uncertainty about monetary policy, and use a data set that contains 90,000 Twitter messages (“tweets”) on Federal Reserve tapering. Based on this data set, we construct a new index about monetary policy uncertainty using a list of uncertainty keywords...

 

ADB

Overview of Financial Inclusion, Regulation, and Education, September 2016. Financial inclusion is receiving increasing attention as having the potential to contribute to economic and financial development while at the same time fostering more inclusive growth and greater income equality. However, although substantial progress has been made, there is still much to achieve. East Asia and the Pacific and South Asia combined account for 55% of the world’s unbanked adults, mainly in India and the People’s Republic of China (PRC). This analysis is based on studies of the experiences of Germany, the United Kingdom, Bangladesh, India, Indonesia, the Philippines, Sri Lanka and Thailand...

 

ADB

Migration in the People’s Republic of China, September 2016. This report summarizes the characteristics of migration in the People’s Republic of China (PRC) after its reforms and opening up. Rapid urbanization in the PRC has resulted from recent decades of intense rural–urban migration. The scale of migration increased rapidly and long-term migration is the main characteristic. The population characteristics of migration are determined not only by a personal decision, but also a joint decision within households to send members with comparative advantages in manufacturing and services, usually male and young, to work in cities. Coastal regions where manufacturing and services are better developed, especially big cities, are the major destinations...

 

ADB

The Impact of Sex Ratios before Marriage on Household Saving in Two Asian Countries: The Competitive Saving Motive Revisited, August 2016. his paper estimates a household saving rate equation for India and the Republic of Korea using long-term time series data for 1975 to 2010, focusing in particular on the impact of the premarital sex ratio on the household saving rate. It finds that the premarital gender ratio (the ratio of males to females) has a significant impact on the household saving rate in both India and the Republic of Korea, even after controlling for the usual suspects such as the aged and youth dependency ratios and income...

 

ADB

Safety and Intelligent Transport Systems Development in the People’s Republic of China, Published 2016. This report identifies factors which contribute to collisions that can be addressed by intelligent transport systems technologies in the People’s Republic of China. It examines opportunities for establishing a policy framework for the development and implementation of C-ITS using connected vehicle-to-vehicle and vehicle-to-road-infrastructure technologies. Some C-ITS applications identified and relevant to the People’s Republic of China are cooperative hazard warning systems and enhanced driver awareness and control.

 

ADB

Outward Ripples: How Japan-Korea History Tensions Affect ASEAN, May 2016. Over the past decade, Japan-Korea tensions over their shared history have become a major cause for concern for analysts and practitioners of international relations. This working paper examines whether and how much Japan and Korea have "exported" their bilateral tensions to relations with member countries of the Association of Southeast Asian Nations (ASEAN); and the impact on Japan-ASEAN and Korea-ASEAN ties. This is done by analyzing the economic, political, and security ties between these nations, as well as public opinion and media coverage of Japan-Korea 'history issues' within ASEAN. This data is interpreted through a 'holistic constructivist' theoretical framework, which seeks to look at culture and social constructions as a causal factor in international relations...

 

EWC

Kyrgyzstan 2010: Conflict and Context, July 2016. Kyrgyzstan gained independence at the end of 1991 and immediately embarked on an ambitious program of economic reform. This was underpinned by a commitment to democratic ideals and the emergence of a thriving civil society. The international community was impressed and regarded Kyrgyzstan as an exemplary model for regional development. There were many Kyrgyz, especially among the educated, urban sector of the population, who shared this positive view. Consequently, it came as a shock when, in 2010, the country was engulfed by a terrible series of violent clashes. It was tempting to seek “instant” culprits and readily comprehensible “causes.” The easiest solution was to present the conflict as an internecine struggle between rival ethnic communities. However, as those with long first-hand experience of the region pointed out, this explanation was too simplistic...

 

ISDP

Reforming the International Protection Regime: Responsibilities, Roles and Policy Options for Australia, August 2016. The international protection regime is failing states and refugees alike. It may be too soon to reform its fundamentals, but the regime needs to be implemented more effectively, and straight away. It is in Australia’s national interest to drive reform, in order to prepare for future asylum flows, take advantage of the success of Operation Sovereign Borders, and fulfil its long-standing commitment to helping people in need. At the domestic level, Australia should set standards for responding fairly but effectively to asylum seekers, and prepare for environmental migration. At the regional level Australia needs to establish leadership credentials to promote protecting people closer to home. At the global level Australia should champion new approaches to refugees and migration, challenging an increasingly complacent regime...

 

Lowy

Making the Most of the G20, July 2016. At a time when multilateralism is in decline and many countries are turning inward, the G20 is needed. The premier forum for international economic cooperation has design flaws, but provides political leadership on global economic matters such as international tax, financial regulation and international financial institutions. In an uncertain world, it is the best means that the international community has to coordinate responses to global economic and financial crises. The G20 can also play an important role in countering growing anti-globalisation sentiment...

 

Lowy

Tourist Arrivals and Inclusive Growth, August 2016. This study contributes to tourism policy discussions in the APEC region in two ways. First, it examines the likely impacts of policies that can contribute to achieving the target of 800 million international tourist arrivals by 2025, a goal APEC tourism ministers announced in 2014. Second, it looks at the linkages between tourism development and the overall economy, in particular the linkages between tourism and macroeconomic indicators, inclusive growth, and MSME development. 

 

APEC

Peer Review on Low Carbon Energy Policies in Viet Nam, August 2016. The APEC Peer Review on Low Carbon Energy Policies (PRLCE) was endorsed by the APEC Energy Ministers at the 2010 Energy Ministerial Meeting. The review is an extension APEC’s Peer Review on Energy Efficiency and its guidelines. 

 

APEC

Workshop on Experiences and Plans to Double Renewable Energy Utilization by 2030 in the APEC Region, August 2016. This report highlights the findings from the workshop which targeted best practices and next steps to help APEC economies develop roadmaps for increasing the share of renewable energy in power generation and end-use technologies.

 

APEC

Import MRL Guideline for Pesticides, July 2016. This Guideline is intended to facilitate a greater degree of clarity and alignment around the application of assessment methodologies involved in considering import MRL requests, from the perspective of consumer protection, across the APEC region. The aim being to not only increase consumer confidence in the MRL setting process, but where practical and appropriate, also achieve greater regulatory convergence of MRLs, promoting greater alignment with international standards, while reducing the regulatory burden across APEC economies and facilitating trade.

 

APEC

APEC Oil and Gas Security Exercise - The Philippines Exercise, June 2016. This report provides the outcome of the Oil and Gas Security Exercise, which details the Philippines' responses to the three hypothetical emergency scenarios formulated for the said exercise. The report also presents comments and recommendations from the team of experts on the responses generated from each scenario.

 

APEC

APEC Energy Efficiency Policy Workshop Summary Report: Policy and Program Evaluation, June 2016. Evaluation of energy efficiency policy is essential to developing effective policy and to understanding the impacts of policy and program implementation. However, the practice of evaluation is lagging behind, especially in APEC developing economies. To support the development of this practice APERC coordinated the APEC Energy Efficiency Policy Workshop: Policy and Program Evaluation in Taichung City, Chinese Taipei on 12 April 2016.

 

APEC

Capacity Building Research on Customs Control of Cross-Border E-Commerce, February 2016. The report has formed a package of proposals for the APEC economies on the base of the results on the APEC seminar about customs control for CBEC. It not only cites the newest researches about Cross-Border E-Commerce (CBEC), analyzes its overall development, and outlines the legislation and regulatory model of APEC and the EU major economies in this field. In the light of Customs supervision and Risk Prevention and Control, it also summarizes experience and methods of the cooperation between customs and other partners, and proposes effective ways to improve the supervision.

 

APEC

Volatility Contagion across the Equity Markets of Developed and Emerging Market Economies, July 2016. Using variance risk premiums (VRPs) nonparametrically calculated from equity markets in selected major developed economies and emerging market economies (EMEs) over 2007‒2015, we document the correlation of VRPs across the markets and examine whether equity fund flows work as a path through which VRPs spill over globally. First, we find that VRPs tend to spike up during market turmoil such as the peak of the global financial crisis and the European debt crisis. Second, we find that all cross-equity market correlations of VRPs are positive, and that some economy pairs exhibit high levels of the correlation...

 

ADB

Credit Surety Fund: A Credit Innovation for Micro, Small, and Medium-Sized Enterprises in the Philippines, July 2016. Micro, small, and medium-sized enterprises are a backbone of the Philippine economy. One factor that hinders the growth of these enterprises is their difficulty in accessing finance from banks and other financial institutions. The Credit Surety Fund (CSF) was established to help these enterprises and other organizations become creditworthy and bankable. The CSF is a credit guarantee program initiated by the Bangko Sentral ng Pilipinas that enables enterprises and cooperatives to gain easier access to loans from banks without providing collateral...

 

ADB

Barriers to Innovation in Indian Small and Medium-Sized Enterprises, July 2016. Innovation plays a critical role in shaping the industrial and firm competitiveness of any nation. Innovation is often discussed in the setting of developed countries, but the rise of emerging economies such as India has generated a new interest in understanding innovation in developing economies. This paper aims to study and present the current state of innovation in small and medium-sized enterprises (SMEs) in India. The focus of the paper is to bring out the key barriers SMEs face in the innovation process in the context of the existing government policy...

 

ADB

Philippine Institute for Development Studies - Policy Notes:  

PIDS

Philippine Institute for Development Studies - Development Research News:  

PIDS

Asian Ethnology 2011-2016  

Nanzan

 

 

 

 

 

 

 

 

August, 2016

 

 

 

 

 

 

Advanced Manufacturing and China's Future for Jobs, August 2016. This paper explores how China's push into advanced manufacturing and services through robots and other new disruptive technologies might affect the country's future for jobs. After decades of rapid-fire growth, China's comparative advantage in manufacturing and the extraordinary size of its economy explain why China has not followed Dani Rodrik's pattern of "premature de-industrialization". However, China now has reached a level of development where catching up through an investment-driven "Global Factory" model is no longer sufficient to create long-term economic growth and prosperity...

 

EWC

Asia on the Medal Stand: Rio Olympic Forecasts, July 2016. This paper updates and extends forecasts originally contained in the working paper on "Asian Participation and Performance at the Olympic Games," with Kevin Stahler, May 2015. It was subsequently published as Noland, Marcus, and Kevin Stahler. 2016. Asian Participation and Performance at the Olympic Games. Asian Economic Policy Review 11:1 70-90.

 

EWC

Trends in Southeast Asia 2016 #12: Understanding Jokowi’s Foreign Policy. The foreign policy issue in the 2014 Indonesian presidential election was the rejection by both candidates, Joko Widodo (Jokowi) and Prabowo Subianto, of President Susilo Bambang Yudhoyono’s high-profile globalism. Both promised instead a foreign policy directed to the real economic and social interests of the people. This raised concerns by Indonesia’s international partners that its new foreign policy would be more nationalistic and inward looking. A year and a half into Jokowi’s presidency, it is possible to make a preliminary assessment of the course of Jokowi’s foreign policy in relation to the goals that Jokowi the candidate set forth for Jokowi the president. Indonesia’s foreign policy under Jokowi, like his predecessor’s, is that suited to a rising middle power with a claim to regional leadership. Its operating principles have been unchanged since first enunciated in 1948: “bebas dan aktif” — independent and active — shaped pragmatically to existing situations...

 

ISEAS

Trends in Southeast Asia 2016 #11: The Red Shirts and Their Democratic Struggle in Northern Thailand, April 2010 to May 2015. The political education of members of Thailand’s Red Shirt movement took place through the electoral process, and through learning how political institutions and the judiciary could be systematically used to topple the elected government. The main sources of instruction were the Red Shirt TV programmes followed by Bangkok rallies. In Chiang Mai Province, for example, Red Shirt activities centred around a radio station and participation in political gatherings. The former involved dissemination of information, the latter connected activists with those from other parts of Northern Thailand. The relationship between the United Alliance for Democracy against Dictatorship (UDD) and satellite Red Shirt groups was rather distant. The UDD leadership showed little interest in strengthening Red Shirt forces outside Bangkok and in turn, there was little participation by Red Shirt leaders from other provinces in Bangkok activities...

 

ISEAS

Trends in Southeast Asia 2016 #10: Bipolarity and the Future of the Security Order in East Asia. ASEAN is in danger of becoming marginalized as East Asian security becomes increasingly shaped by such volatile flashpoints as a nuclear North Korea and a South China Sea increasingly dominated by quarrels over sovereignty and maritime security. Accordingly, the notion of “ASEAN centrality” is now being seriously challenged and is unlikely to prevail against the growing bipolar security environment shaped by China and the United States. ASEAN and other Asia-Pacific states could gravitate toward one of five alternative order-building scenarios: A Sino-American condominium that defines and accepts each other’s geopolitical sphere of influence; The replacement or substantial revision of the United States’ bilateral alliance system with the expansion of multilateral norms and instrumentalities; The gradual predominance of an “Asia for Asians” concept led by China but endorsed by a substantial number of Southeast Asian states...

 

ISEAS

Improving on Zero: Australia and India Attempt Strategic Convergence, August 2016. India no longer sees Australia as merely a strategic stooge of the US. And Australia is starting to accord India the importance India always saw as its right. Those are big changes in attitude and policy—and in the two countries’ understanding of each other’s interests. Strategy: The Australia–India strategic relationship was in zero territory—often in negative mode—for much of the 20th century; indeed, effectively since India’s independence. In the 21st century, though, Australia and India can reach for greater strategic convergence. People: Australia in the 21st century can have a set of relationships with India based on people as much as on economic and strategic need. Economics and trade: As China slows economically, Australia turns to India...

 

ASPI

Principled Engagement: Rebuilding Defence Ties With Fiji, July 2016. The geopolitics of the Pacific Islands region is changing, including the emergence of the new Pacific regionalism. The traditional regional security orthodoxy is also changing. The Russian arms deal to Fiji has underlined the extent to which Australia and New Zealand face competition for access and influence from external players in their relations with Fiji. Since the normalisation of relations in 2014, Australia and New Zealand have pursued a soft approach to engagement. Australia’s and New Zealand’s response to Cyclone Winston offered an opportunity to re-engage with Fiji’s military and test the potential for increased defence diplomacy. It is time for Australia and New Zealand to undertake a principled rebuilding of defence ties with Fiji.

 

Lowy

The Rise of Defense Diplomacy in the South China Sea, June 2016. Jacqueline Espenilla, Non-Resident WSD-Handa Fellow at the Pacific Forum CSIS, explains that “Countries like the Philippines and Vietnam are shrewdly using the power of defense diplomacy to link their navies and military to strategically interested countries, thereby getting tacit support for positions that conform to shared values [regarding] internationally acceptable behavior.”

 

EWC

Review of APEC Green Building Project, July 2016. The Project builds on work to-date carried out by APEC member economies to advance green building and building energy efficiency and was implemented through the APEC Sub-Committee on Standards and Conformance (SCSC).

 

APEC

Policy Review for APEC Low-Carbon Model Town Phase 5 Final Report, June 2016. The APEC Low-Carbon Model Town (LCMT) project seeks to promote low-carbon technologies in city planning in order to manage rapidly growing energy consumption and greenhouse gas emissions in urban areas of the APEC region. This report presents the findings of Policy Review for Biting City, North Sulawesi Province, Indonesia.

 

APEC

Literature Survey Developing Solar-Powered Emergency Shelter Solutions as an Energy-Resilience Tool for Natural Disaster Relief in APEC Community, May 2016. This literature survey informs APEC forum Energy Working Group (EWG), specifically its sub-forum of Expert Group on New and Renewable Energy Technologies.

 

APEC

A Report on Enhancing Labour Mobility in the APEC Region, Published 2015. This report was commissioned to generate additional knowledge about labour mobility in the Asia-Pacific region, at present and over time, to inform APEC member economies’ deliberations about options to manage regional demand and enhance worker mobility to optimise potential benefits such as reducing unemployment, boosting productivity, addressing labour force imbalances, and contributing to economic development.

 

APEC

Asian Development Outlook Supplement - Asia's Growth Prospects Undimmed by Brexit Vote, July 2016. Growth in Central Asia is weaker than predicted, while expansion in the Pacific is now expected to be a touch higher. Forecasts are unchanged for East, South, and Southeast Asia. While the Brexit vote has affected developing Asia’s currency and stock markets, its impact on the real economy in the short term is expected to be small...

 

ADB

Knowledge Work on Securitization in the People’s Republic of China, July 2016. This working paper describes key features and mechanisms of securitization and practices of securitizing revenue streams from various classes of physical asset before and after the global financial crisis, and provides context information on how this could be relevant for the PRC. The aim is to deepen the understanding for securitization and contribute to ongoing discussions about reforming local government finances, infrastructure finance and project finance, and further diversifying financial sevices. Local governments in the PRC and their subsidiaries are still struggling with rapidly increasing debt levels but also have numerous physical assets on their balance sheets.

 

ADB

The Impact of a People’s Republic of China Slowdown on Commodity Prices and Detecting the Asymmetric Responses of Economic Activity in Asian Countries to Commodity Price Shocks, July 2016. This study carries out the analysis in two parts. First, noting the fact that commodity prices are characterized by structural breaks, a model based on a Flexible Fourier Form is employed to study the causal relations between a slowdown in the People’s Republic of China and different commodity prices. The second part investigates whether the response of emerging and developing Asian countries to a positive or negative shock is significantly different.

 

ADB

Effects of the People’s Republic of China’s Structural Change on the Exports of East and Southeast Asian Economies, July 2016. Asian economies which failed to export relatively more consumption goods to the People’s Republic of China’s (PRC) suffered larger declines in overall exports to the PRC. In addition, Asian economies that exported relatively less parts and components to the PRC saw their shares of the PRC’s total imports decline. Overall, the PRC’s structural change is having a significant impact on the pattern of its trade with its neighbors.

 

ADB

Determinants of Consumer Price Inflation versus Producer Price Inflation in Asia, June 2016. The authors empirically examine and compare the determinants of producer and consumer price inflation in 10 major Asian economies—People’s Republic of China (PRC); Hong Kong, China; India; Indonesia; Republic of Korea; Malaysia; Philippines; Singapore; Thailand; and Viet Nam—during 2000–2015. In this connection, they also investigate the pass-through of global oil prices, global food prices, and exchange rates to domestic producer and consumer prices. Overall, they find that cost-push factors such as oil and food prices are more important in explaining producer price inflation than consumer price inflation in the 10 Asian economies. On the other hand, for consumer prices, demand-pull factors still explain much of the inflation.

 

ADB

Pacific Economic Monitor, July 2016. Forecasts for global growth in 2016 have been lowered to 3.1%—the same rate as last year—due to weakness in demand, international trade, and capital flows, as well as demographic trends and lackluster productivity growth. Prospects for the People’s Republic of China (PRC) have improved modestly during the first half of the year, with adjustment toward services and consumption—away from investment and manufacturing—but the IMF warns that the situation in many leading economies could further reduce global growth. Other major risk factors include the repercussions of the United Kingdom’s vote to exit the European Union, tighter credit conditions, major exchange rate fluctuations, and further weakness in commodity markets...

 

ADB

Bridging the “Missing Middle” between Microfinance and Small and Medium-Sized Enterprise Finance in South Asia, July 2016. With maturity in the microfinance market in South Asia, it is observed that some microfinance members’ needs grow beyond the boundaries of traditional microfinance group loans. In addition, there are other small enterprises whose needs are not met by microfinance institutions or commercial banks. It is important to address the financing needs of these firms given their employment potential, and hence this issue is on the policy agenda of the three countries studied in this paper: India, Bangladesh, and Pakistan...

 

ADB

Optimal Credit Guarantee Ratio for Asia, July 2016. Difficulty in accessing finance is one of the critical factors constraining the development of small and medium-sized enterprises (SMEs) in Asia. Owing to their significance to national economies, it is important to find ways to provide SMEs with stable finance. One efficient way to promote SME financing is through credit guarantee schemes, where the government guarantees a portion (ratio) of a loan provided by a bank to an SME. This research provides a theoretical model and an empirical analysis of factors that determine optimal credit guarantee ratio.

 

ADB

Capital Inflow Surges and Consequences, July 2016. While capital flows to emerging markets bring numerous benefits, they are also known to create macroeconomic imbalances (economic overheating, currency overvaluation) and increase financial vulnerabilities (domestic credit growth, bank leverage, foreign currency-denominated lending). But are all inflows the same? In this paper, we examine whether the source of the inflow—residents repatriating foreign assets or nonresidents investing in the country—or the type of inflow (foreign direct investment, portfolio, other investment) makes any difference to the consequences of the capital flow...

 

ADB

Urbanization, Inequality, and Poverty in the People’s Republic of China, July 2016. Relying on the present literature, official statistics, and household survey data in the People’s Republic of China (PRC), this paper summarizes research findings on the relationship between urbanization, urban–rural inequality, and poverty, and provides further empirical evidence on the role of urbanization and government policies in urban poverty. Several conclusions can be drawn from this paper. First, urbanization has a significant effect on reducing both poverty of rural residents and poverty of migrating peasants, and, consequently, has a positive effect on narrowing the rural–urban income/consumption gap...

 

ADB

Commercial Bank Innovations in Small and Medium-Sized Enterprise Finance: Global Models and Implications for Thailand, July 2016. In Thailand, the government has long recognized the importance of small and medium-sized enterprises (SMEs) to the economy and has given a large amount of financial support to this sector. Still, SMEs are not able to catch up with larger enterprises and the constraints to SME financing remain the main topic of policy discussion today. Against this background, the important issue for Thailand may not be about the lack of financial assistance per se but about how to design an appropriate market-friendly business model and supporting scheme to help SMEs gain access to credit on a sustainable basis...

 

ADB

Small Firms, Human Capital, and Productivity in Asia, July 2016. The paper analyzes the link between human capital and firm-level productivity in five Asian countries. It draws on a dataset of over 4,000 enterprises and considers both the prior educational attainment of workers and in-service training programs of enterprises. Differences between small, medium-sized, and large enterprises and between countries are also presented. The key finding is that both preservice education and in-service training are positively correlated with labor productivity. The productivity of small and medium-sized enterprises (SMEs) is enhanced by a higher level of skills and education of the workforce, just as it is with large firms

 

ADB

Finance for Micro, Small, and Medium-Sized Enterprises in India: Sources and Challenges, July 2016. The key objective of the study was to identify various challenges faced by MSMEs in sourcing of finance during different stages of their life cycle. This study is a first-of-its-kind attempt to focus on these aspects. The study further explores whether the financial awareness of MSME entrepreneurs is a major limitation in the identification and utilization of sources of finance. Data was collected through personal interviews using a structured questionnaire from a sample of 85 MSMEs...

 

ADB

Dynamics of Innovation and Internationalization among Small and Medium-Sized Enterprises in Viet Nam, July 2016. This paper examines the bidirectional causality between innovation and internationalization in the context of developing countries. Using a dynamic bivariate probit model and adopting a broad definition of internationalization, this paper analyzes these issues using a panel dataset of small and medium-sized enterprises in Viet Nam. The results show a high persistence in process and product innovations and internationalization decisions...

 

ADB

Skills Training by Small and Medium-Sized Enterprises: Innovative Cases and the Consortium Approach in the Republic of Korea, July 2016. This paper presents targeted government policies for promoting training in small and medium-sized enterprises (SMEs) to increase their contributions to economic development. It first discusses the role of SMEs in country development and the special challenges facing SMEs in developing human resources. It then surveys some innovative, targeted policies for promoting training by SMEs in Asia and Latin America...

 

ADB

Journal of Global Buddhism, Volume 17, 2016  

JGB

 

 

 

 

 

 

 

 

 
 

  

 
 

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