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April, 2014 Current Topics

 

Source

 

 

 

 

Use of National Currencies for Trade Settlement in East Asia: A Proposal, April 2014. This paper develops a multilateral currency system where national currencies are used for trade settlement in East Asia, comprising the Association of Southeast Asian Nations (ASEAN) member countries, the People's Republic of China, Japan, and the Republic of Korea (ASEAN+3). The currency scheme is expected to mitigate the risks associated with independent attempts at internationalization in non-convertible currency countries...

 

ADB

The Rise of the Redback and the People's Republic of China's Capital Account Liberalization: An Empirical Analysis of the Determinants of Invoicing Currencies, April 2014. This study investigates the determinants of currency choice for trade invoicing in a cross-country context while focusing on the link between capital account liberalization and its impact on the use of the renminbi (RMB). The authors find that while countries with more developed financial markets tend to invoice less in the US dollar, countries with more open capital accounts tend to invoice in either the euro or their home currency...

 

ADB

The Role of Offshore Financial Centers in the Process of Renminbi Internationalization, April 2014. The People's Republic of China (PRC) has been quite aggressive recently in promoting the international use of its currency, the renminbi. Historical experience suggests that an active offshore market is essential for a global currency. Indeed, anecdotal evidence affirms the role of offshore markets in pushing the renminbi currency to the world...

 

ADB

A Short-Run Analysis of Exchange Rates and International Trade with an Application to Australia, New Zealand, and Japan, April 2014. The information and communication technology (ICT) revolution of the past 3 decades has transformed the world into an integrated marketplace. Today, producers and consumers alike are able to compare the prices of local businesses and worldwide sellers. For an increasing number of tradable goods, they can take advantage of arbitrage opportunities between online and offline transactions...

 

ADB

Flexible Implementation: A Key to Asia's Transformation, Published 2014. This study focuses on how real-world policymakers might operationalize the capability to be flexible in the agencies they lead or create. It does so through detailed examinations of three types of organizations--venture capital, defense research, and industrial policy--chosen for their ability to flexibly deliver on a portfolio of investments or programs. It concludes by offering a tentative set of techniques and strategies to enable flexible implementation.

 

EWC

Hong Kong: High Frequency Macroeconomic Forecasts Current Quarter Model: 2014Q2, April 2014. According to its High Frequency Macroeconomic Forecast, real GDP in 14Q1 is estimated to increase by 3.3% when compared with the same period last year. This is a slightly downward revision of our previous forecast of 3.5% growth released in January 9, 2014. This adjustment reflects a mild delay in the recovery of external demand due to the harsh winter in North America as well as the statistical revision by Hong Kong Census and Statistics Department. In 14Q2, real GDP growth is forecast to rise by 3.7% when compared with the same period last year...

 

HKU

Asian Development Outlook 2014: Fiscal Policy for Inclusive Growth (Highlights, Full Report) reports that Developing Asia’s gross domestic product (GDP) expanded steadily by 6.1% in 2013, the same pace as in the previous year. The major industrial economies—the US, euro area members, and Japan—grew by a collective 1.0% in 2013. The momentum is expected to quicken to 1.9% in 2014 and 2.2% in 2015. Output in the PRC grew by 7.7% in 2013, matching the performance of the previous year. However, growth is set to slow somewhat in the years ahead as policy promotes growth that is more equitable, sustainable, and balanced...

 

ADB

Asia Small and Medium-sized Enterprise (SME) Finance Monitor 2013, Published 2014 highlighting
  • SMEs are the backbone of Asia’s economies. Further development can support inclusive growth; employment, and the effort to overcome middle-income traps
  • Poor access to finance limits the ability of SMEs to survive and grow. Further bank efficiency is needed
  • Limitations of bank lending require diversified SME financing models
  • Access to finance is a critical part of SME policies
  • SME finance policies focus on bankability; more work is needed on nonbank financing
  • SME finance policies should be addressed in a holistic manner that goes beyond already established ways.
 

ADB

ADB - OECD Study on Enhancing Financial Accessibility for SMEs: Lessons from Recent Crises, Published 2014 suggesting
  • demand creation focusing on target segments such as social enterprises and SMEs led by women, with design of a low-cost structure for SME access to capital markets
  • establishment of an investor base to provide initial risk capital for potential growth-oriented SMEs, especially through fostering the venture capital industry
  • strengthening market literacy for potential SME issuers and investors
  • investor protection mechanisms backed by proper laws and regulations
  • facilitation measures for access to an SME market backed by a comprehensive policy support framework with well-organized policy coordination among regulators and line ministries responsible for SME sector development and access to finance.
 

ADB

e-Quarterly Research Bulletin Volume 5 Number 1, January-March 2014 covering
  • ADB’s Distinguished Speakers Program: Measuring the Connectedness of the Financial System: Implications for Risk Management
  • Yen’s Trade Spillover
  • Invisible Trade Barriers: Trade Effects of US Antidumping Actions against the People’s Republic of China
  • Why Do Asian Firms Hold Cash?
 

ADB

China's Dilemma in the Ukraine Crisis, March 2014. Sheng Ding, Associate Professor of Political Science at Bloomsburg University of Pennsylvania, explains that "What is currently unfolding in Ukraine is a multifaceted political disaster for the communist government in China."

 

EWC

Mongolian Foreign Relations Surge Indicates New Activist Agenda for 2014, March 2014. Alicia Campi, President of the US-Mongolia Advisory Group, explains that "It is quite evident that in 2014 Mongolian President Elbegdorj, who labels himself the 'President to Bridge Mongolia to the World,' will continue his diplomatic offensive and overseas travels."

 

EWC

The New Vietnamese Vocabulary for Foreign and Defense Relations, March 2014. Lewis M. Stern, former Director for Southeast Asia in the Office of the Secretary of Defense 2002-2008, explains that "Decision-makers in Hanoi and Washington now need to determine what it will take to move the relationship from the status of a 'comprehensive partnership' conferred during President Truong Tan Sang's 2013 visit to a new 'strategic partnership.'"

 

EWC

Global Trends of Multi-Factor Productivity, March 2014. This paper offers the balanced panel of the estimated growth rates of MFP for 24 OECD countries over 1986-2011. Based on the estimates of MFP growth, a number of notable trends in productivity growth are identified for the entire OECD area as well as three major economies--the United States, the Eurozone and Japan--within the OECD...

 

EWC

Is the Information Technology Agreement Facilitating Latecomer Manufacturing and Innovation? India's Experience, November 2013. The paper examines India's experience with ITA. Initially, the main concern was to attract inward FDI and to facilitate the growth of its then still nascent IT services industry. For electronics manufacturing however, the analysis shows that gains from trade liberalization were overshadowed by substantial costs - with rising electronics imports inflating the country's current account deficit to unsustainable record highs, while eroding domestic electronic manufacturing and innovation...

 

EWC

Collective Self-Defense and US-Japan Security Cooperation, October 2013. If Japan decides to exercise its right of collective self-defense (CSD), it would have complex effects on US-Japan security cooperation. The tangible short-term outcomes would likely be rather modest, and mid-term outcomes are dependent on changes in complementary policies, laws, and attitudes. American observers who expect that a revised interpretation of Japan's Constitution will provide an immediate boost to the alliance are likely to be disappointed...

 

EWC

Standards, Innovation, and Latecomer Economic Development - A Conceptual Framework, September 2013. The paper develops a conceptual framework to study how standards are created and used in Asian countries that seek to catch up with the productivity and income levels of the US, the EU and Japan. A stylized model of latecomer standardization tasks, capabilities and strategies is used to demonstrate that the costs of developing and implementing effective standards can be substantial. The paper examines the critical role that patents play for standardization and argues that "strategic patenting" to generate rents from de facto industry standards can stifle latecomer economic development. Policy implications conclude the paper...

 

EWC

Industrial Upgrading through Low-Cost and Fast Innovation - Taiwan's Experience, September 2013. This paper examines the forces that drive Taiwan's new strategy of "Upgrading through Low-Cost and Fast Innovation." The first section highlights characteristics of Taiwan's traditional "Global Factory" innovation model and examines the role of innovation policy in that model. Section 2 reviews fundamental weaknesses that define the requirements of Taiwan's new innovation strategy. Section 3 explores Taiwan's new strategy of "low-cost and fast innovation through domestic and global innovation networks." Finally, section 4 examines the role of government and key policies and initiatives in the IT industry...

 

EWC

Asia Bond Monitor, March 2014. Emerging East Asian bond markets remained relatively stable in the fourth quarter of 2013 amid the financial turmoil swirling in emerging markets. However, global liquidity is likely to tighten as the US Federal Reserve is expected to continue tapering its monthly asset purchases. Bond yields in the region have risen since the tapering began in December 2013, and could rise further in the months ahead...

 

ADB

Global Implications of the Renminbi's Ascendance, March 2014. This paper evaluates the prospects for the Renminbi's role as an international currency and the implications for global financial markets. Although the People's Republic of China (PRC) does not have either an open capital account or a flexible exchange rate, the renminbi has attained considerable traction as an international currency on account of the PRC's rising shares of global trade and gross domestic product. Through bilateral swaps that the People's Bank of China has established with other central banks, the renminbi is also becoming more prominent in international finance...

 

ADB

Does Finance Really Matter for the Participation of SMEs in International Trade? Evidence from 8,080 East Asian Firms, March 2014. This paper studies factors associated with firm participation in export markets, focusing primarily on firm size and access to credit, based on a survey sample comprising observations of 8,080 small and medium enterprises (SMEs) (with fewer than 100 employees) and non-SME firms in developing East Asian countries across sectors. The main findings suggest the interdependent relationships between export participation, firm size, and access to credit...

 

ADB

Asymmetric Price Transmission in Indonesia's Wheat Flour Market, March 2014. Data indicate that its domestic price in Indonesia has been increasing regardless of movements in the international price of wheat. A test for asymmetric price transmission from international wheat to domestic wheat flour markets is conducted using an error correction model and finds the presence of asymmetric price transmission. The upward adjustment in the domestic price of wheat flour is much faster than its adjustment downward when it deviates from long-run equilibrium. Results are robust to use of disaggregated data as well as to inclusion of additional of control variables such as prices of other inputs...

 

ADB

Reserve Bank of India's Policy Dilemmas: Reconciling Policy Goals in Times of Turbulence, March 2014. This paper reviews some of the more critical policy dilemmas facing the Reserve Bank of India (RBI) in its pursuit of inflation stabilization and balanced growth objectives. The challenge in meeting these objectives further increased in the mid-2000s with the advent of large capital flows into the country and with RBI’s role in preserving financial stability...

 

ADB

Growth Horizons for a Changing Asian Regional Economy, March 2014. After two generations of economic growth, the next phase of structural transformation for Asia will have several salient features. The authors’ results suggest that no single policy orientation, pathway, or even destination will apply to all economies. The main driver for each economy’s structural change will be demand, both domestic and external. These demand sources can have very different sector emphasis, however, and drive domestic resource allocation in different directions...

 

ADB

Public Service Delivery: Role of Information and Communication Technology in Improving Governance and Development Impact, March 2014. The focus of this paper is on improving governance through the use of information and communication technology (ICT) in the delivery of services to the poor, i.e., improving efficiency, accountability, and transparency, and reducing bribery. A number of papers recognize the potential benefits but they also point out that it has not been easy to harness this potential. This paper presents an analysis of effective case studies from developing countries where the benefits have reached a large number of poor citizens. It also identifies the critical success factors for wide-scale deployment...

 

ADB

Improving Service Delivery through Decentralization: A Challenge for Asia, March 2014. This paper assesses how decentralization can contribute, if proper political and fiscal institutions are present, to improving service delivery in Asia. In other words, decentralization is an opportunity and a challenge at the same time. The paper presents the salient characteristics of decentralized government in Asia and then focuses on the analysis of critical issues leading to “partial decentralization” that is common to most models. Consideration is also given to the emerging challenges common to most Asian systems...

 

ADB

Governance and Developing Asia: Concepts, Measurements, Determinants, and Paradoxes, March 2014. Recent years have seen the emergence of a considerable volume of literature on governance and its role in economic and social development of a country. This paper provides a critical review of the literature. This review brings into the open a number of serious conceptual, measurement, and data issues as well as the existence of an Asian governance paradox—i.e., a general disjunction between growth and governance in most Asian economies...

 

ADB

Final Report: APEC Workshop on Information Sharing on Logistics Services, March 2014. This report aims to analyse the current situation of the logistics services, new trends in the APEC region, trade liberalization and facilitation of logistics services among APEC economies, future policy options and recommendations on logistics services.

 

APEC

 

 

 

 

 

 

 

 

March, 2014

 

 

 

 

 

 

Income Distributions, Inequality, and Poverty in Asia, 1992 - 2010, March 2014. In this paper, income distributions for developing countries in Asia are modeled using beta-2 distributions, which are estimated by a method of moments procedure applied to grouped data. Estimated parameters of these distributions are used to calculate measures of inequality, poverty, and pro-poor growth in four time periods over 1992–2010. Changes in these measures are examined for 11 countries, with a major focus on the People's Republic of China (PRC), India, and Indonesia, which are separated into rural and urban regions...

 

ADB

The Challenges of Doing Business in Papua New Guinea, Published 2014. The business environment has improved since 2002, but doing business in PNG remains extremely challenging. Efforts to improve the business environment will help create a foundation for sustained, inclusive, and diversified economic growth, which builds on that generated by the resource boom...

 

ADB

Office of Anticorruption and Integrity: Annual Report 2013, Published 2014. In 2013, ADB's Office of Anticorruption and Integrity (OAI) received 250 complaints, surpassing the previous record of 240 received in 2012. It converted 92 complaints into investigations and processed sanctions imposed on 30 individuals and 31 firms. Almost half of the complaints came from ADB staff, highlighting their crucial role in combating threats to the integrity and effectiveness of ADB’s development work...

 

ADB

China's Media Crackdown Is a Growing Concern, March 2014. Mark C. Eades, a freelance writer based in Shanghai, China, explains that "While state-run Chinese media enjoy unrestricted access to the United States, foreign media, including US media organizations, face increasing restrictions in China."...

 

EWC

Russia and Japan: Can Two-Plus-Two Equal More Than Four? March 2014. Stephen Blank, Senior Fellow at the American Foreign Policy Council, explains that "Whether or not there will actually be increased Russia-Japan economic engagement, it is clear that the rapprochement is partly being driven forward by a growing mutual apprehension regarding China's increasingly aggressive stance in the region."...

 

EWC

Democratic Change and Forest Governance in the Asia Pacific: Implications for Myanmar, February 2014. While signs of democratization in a country may raise hopes of better natural resource governance, especially of forests, evidence from the Asia Pacific region in countries such as Indonesia and Cambodia demonstrates no significant relationship between a country's transition toward democracy and better forestry governance. Myanmar's transition to democracy is unlikely to counter this trend...

 

EWC

Feasibility of Accelerating the Deployment of Carbon Capture, Utilization and Storage in Developing APEC Economies, March 2014. The objective of this study is to produce a feasibility assessment for accelerating CCUSEOR in selected developing APEC economies.

 

APEC

Sustainable Development of Tourism Destinations, March 2014. The report aims to provide a comprehensive understanding of the main sustainable tourism concepts, guidelines, indicators and certifications.

 

APEC

Summary Report - APEC Workshop on Promoting the Development of Wind Energy, December 2013. This Summary Report covers the good practices discussed during the Workshop, targeted at promoting wind energy in the APEC region.

 

APEC

APEC Seminar Workshop on Mainstreaming Climate Change Adaptation and Mitigation Initiative in Agriculture (AMIA), Published 2014. The APEC Seminar Workshop on Mainstreaming Climate Change Adaptation and Mitigation Initiative in Agriculture (AMIA) is a follow up of the APEC Symposium on Climate Change conducted by the Philippines in February 2012. The seminar workshop aims to create an appropriate framework for cooperation to operationalize the recommendations of the APEC Climate Change Symposium.

 

APEC

Productive Employment and Empowering Education: An Agenda for India's Youth, 2014. Until very recently and despite human capital’s pre-eminent and empirically established contribution to economic growth, Indian policymakers planning for economic development concentrated largely on issues of capital, labour and, to a lesser extent, technology. This paper argues that India’s demographic dividend with 65 per cent of the population in aged 15-24 in 2012 is ideally suited to embark on a path of sustained high rate of economic growth for the foreseeable future if India can reap the benefits of rapid human capital accumulation. It finds, however, that both in the area of education and in labour markets considerable effort is needed to facilitate such rapid and sustained growth.

 

ASARC

Export of Environmental Goods: India's Potential and Constraints, 2013. Using data between 1996 and 2010, this paper identifies the constraints that make India, which is one of the emerging EGS exporters, not able to realize its export potential of environmental goods (EG). The empirical results show that the growth of India’s exports of EG was negatively affected by its ‘behind the border’ constraints, such as weak infrastructure and institutions, while the effect of ‘explicit beyond the border’ constraints, such as partner-countries’ tariff and exchange rate on the exports of EG was relatively small...

 

ASARC

Highlights of Journal of Global Buddhism, Volume 15, 2014  

JGB

Highlights of Journal of Global Buddhism, Volume 14, 2013  

JGB

Is There Really a Renminbi Bloc in Asia? February 2014. This paper examines whether the renminbi (RMB) has supplanted the US dollar as the major anchor currency in the currency baskets of East Asian economies. It systematically demonstrates that existing techniques to address the problem of severe multicollinearity in estimations of the Frankel—Wei regression model, with the movements in both the RMB and the US dollar included on the right-hand side of the equation, remain limited in providing stable and robust results...

 

ADB

Dynamic Poverty Decomposition Analysis: An Application to the Philippines, February 2014. This paper proposes a new method of poverty decomposition. The method remedies the shortcomings of existing methods and has some desirable properties such as time-reversion consistency and subperiod additivity. It integrates the existing methods of growth-redistribution decomposition and sector-based decomposition, because it allows poverty change to be decomposed into growth and redistribution components for each group (e.g., regions or sectors) in the economy...

 

ADB

Assessing the Experience of South Asia - East Asia Integration and India's Role, February 2014. This paper examines the gains for South Asian economies from integrating with East Asia and India's role in this process. Evidence of increased pan-Asian integration exists but the process is uneven. Bilateral trade has grown. As have bilateral foreign direct investment flows and free trade agreements (FTAs), albeit at a slower pace than trade...

 

ADB

Vertical Specialization, Tariff Shirking, and Trade, February 2014. Using export data from the People's Republic of China, the paper demonstrates that vertical specialization allows firms to more easily circumvent antidumping measures by relocating their manufacturing to another country...

 

ADB

Public-Private Service Delivery Arrangements and Incentive Schemes in Developing Asia, February 2014. This paper explains the rationale for and the factors that account for the successes or failures of public-private service delivery arrangements, focusing on the role of monetary and nonmonetary incentives used in selected case studies in developing Asian countries...

 

ADB

Asian Development Outlook Forecast Skill, February 2014. This paper assesses the accuracy of Asian Development Outlook forecasts against actual outcomes for the years from 2008 to 2011 and against the benchmark of International Monetary Fund's World Economic Outlook forecasts...

 

ADB

The Role of Mineral Fertilizers in Transforming Philippine Agriculture, February 2014. Fertilizer policy in the country has evolved from pervasive interventionism in the 1970s to today`s market-oriented regime. Government has abandoned price policies and subsidies, focusing rather on standard setting, quality regulation, and training...

 

PIDS

Toward Relaxing the Cabotage Restrictions in Maritime Transport, February 2014. The present cabotage law is considered one of the serious bottlenecks to Philippine economic growth. The perennial inefficiencies in the maritime industry are linked to lack of competition due to barriers to entry, arising from the law’s provision that allows only domestic shipping lines to serve domestic routes...

 

PIDS

More Talk than Walk: Indonesia as a Foreign Policy Actor, February 2014. Indonesia’s population size, geographic location and economic potential all suggest that it will play a bigger role in international affairs in the future than it currently does. The truth is, however, that Indonesia is unlikely to emerge as a significantly more influential actor over the next five years in ways that set it apart from other middle powers. If Indonesia is to achieve great power status, as some observers have suggested, it will only do so in the much longer term...

 

Lowy

Northeast Asia's Turbulent Triangle: Korea-China-Japan Relations, January 2014. The modern histories of China, Japan and South Korea were forged by Japan’s colonisation of China and Korea and the Korean War that divided the peninsula and saw China on the side of North Korea and Japan on the side of South Korea. This recent history has left the bilateral relations on each side of this turbulent triangle strained by a lack of trust, popular antipathy and unresolved territorial disputes. As noted in the project’s Beijing workshop, the stalled trilateral free trade agreement negotiations between the three Northeast Asian neighbours, launched with great hope in 1997, have been the victim of this turbulence and strain....

 

Lowy

Cybersecurity by Executive Order, February 2014. On 12 February 2014 the United States National Institute of Standards & Technology (NIST) released the Framework for Improving Critical Infrastructure Cybersecurity, the flagship accomplishment of the Obama Administration’s 2013 cybersecurity Executive Order. Just weeks before the White House announced its executive order, the then Australian Prime Minister Julia Gillard made an equally exciting declaration introducing the Australian Cyber Security Centre (ACSC). One year on, the contrast between the two efforts is stark....

 

ASPI

Can China and India Coexist in Myanmar? February 2014. Daniel Wagner, Chief Executive Officer, and Giorgio Cafiero, Research Analyst, both with Country Risk Solutions, explain that "Even if Myanmar's relationship with China does not fundamentally shift (and we do not expect that it will), India--and other countries such as the United States and Japan--offer Naypyidaw greater leverage against Beijing by emphasizing that Myanmar has other options."...

 

EWC

China, India and Indonesia - Building Trust Amidst Hostility, February 2014. Vibhanshu Shekhar, Visiting Fellow at the Institute of Peace and Conflict Studies, New Delhi, explains that “The predominant culture of strategic autonomy in India and Indonesia seems to be dictating their economically beneficial and tension-reducing exercises of cooperation with China.”...

 

EWC

Globalization, Infrastructure, and Inclusive Growth, February 2014. This paper covers threes issues: first, defining and measuring inclusive growth; second, the relationship between international trade and inequality; and third, the links between infrastructure and inequality. Both international trade and infrastructure make it easier for people to exchange goods and services and to increase income by allowing specialization, economies of scale, variety, etc...

 

ADB

Rising Inequality in Asia and Policy Implications, February 2014. This paper looks at the recent trends of rising inequality in developing Asia, asks why inequality matters, examines the driving forces of rising inequality, and proposes policy options for tackling high and rising inequality. Technological change, globalization, and market-oriented reform have driven Asia's rapid growth, but have also had significant distributional consequences...

 

ADB

Lessons for Asia from Europe's History with Banking Integration, February 2014. As Asia considers greater harmonization and integration of its financial systems, it would be well-advised to consider the experience of Europe, particularly the eurozone. There are many lessons to be drawn from Europe about how to implement such integration, mostly negative. It is particularly evident that moving to a currency union had major unanticipated consequences for the ability to manage integration of financial systems within the eurozone...

 

ADB

How Far Can Renminbi Internationalization Go? February 2014. The question of how far renminbi internationalization can go has become a common concern in the international financial community. This paper argues that the sheer size of the People's Republic of China's (PRC) trade and the convenience of using the renminbi for transaction settlements is one contributing factor, but that exchange rate arbitrage and interest rate arbitrage matter also...

 

ADB

Regional Financial Regulation in Asia, February 2014. The paper considers experiences of the European Union (EU) and Asia in regional financial cooperation and regulation and draws lessons for Asia. The EU represents the most advanced stage of regional financial integration and regulation in the world today, and can provide valuable lessons for Asia...

 

ADB

Emerging Economies' Supply Shocks and Japan's Price Deflation: International Transmissions in a Three-Country DSGE Model, February 2014. This paper examines the international transmission effects that a positive supply shock in emerging economies may have on inflation in developed economies. A three-country dynamic stochastic general equilibrium (DSGE) model is constructed to analyze the impact of a supply shock in an emerging economy, the People's Republic of China (PRC), on inflation rates in two developed economies, Japan and the United States (US)...

 

ADB

The India–Sri Lanka Free Trade Agreement and the Proposed Comprehensive Economic Partnership Agreement: A Closer Look, February 2014. The paper shows that the FTA has worked in favor of Sri Lanka but its full potential has not yet been realized due to market access problems in India, and the lack of supply capacity for some products in Sri Lanka...

 

ADB

Regional Settlement Infrastructure and Currency Internationalization: The Case of Asia and the Renminbi, February 2014. The squeeze in United States dollar liquidity that emerged with the global financial crisis highlighted the risks inherent in the current global financial system. Asia was adversely affected by the crisis not only because of its dependence on trade, but also because of its heavy reliance on the US dollar for regional and international transactions...

 

ADB

Three Decades of Development Partnership: Royal Government of Bhutan and Asian Development Bank, Published 2014. The partnership has promoted power sector development, enhanced transport networks and rural connectivity, supported rapid urbanization, strengthened financial systems, laid the foundation of technical and vocational education and training, pushed environmental conservation, and encouraged regional cooperation and trade.

 

ADB

Results-Based Management Framework in the Philippines, Published 2013. This guidebook focuses on the results-based management framework that is currently being institutionalized in the Philippines. It begins with an outline of its business model characterizing the concepts that have been implemented in the Philippines...

 

ADB

Pacific Transport Update 2013. This document provides a summary of the existing portfolio of transport projects and technical assistance approved and under implementation in 2013.

 

ADB

Pacific Health Dialog (2010-2011) now available  

PHD

 

 

 

 

 

 

 

 

February, 2014

 

 

 

 

 

 

South Caucasian - People's Republic of China Bilateral Free Trade Agreement: Why It Matters, January 2014. H. Hovhanesian and H. Manasyan assess the PRC's FTA strategy, the potential for regional integration in the South Caucasus, and the likely impacts of an FTA on the economies of Armenia, Azerbaijan, Georgia, and the PRC...

 

ADB

Explaining Foreign Holdings of Asia's Debt Securities, January 2014. C. Y. Horioka, T. Nomoto, and A. Terada-Hagiwara find that the overall increase in foreign holdings of Asian debt securities since 2000 appears to be driven by relatively stable exchange rates and the higher risk-adjusted returns on the debt...

 

ADB

Can Low Interest Rates be Harmful: An Assessment of the Bank Risk-Taking Channel in Asia, January 2014. A. Ramayandi, U. Rawat, and H. C. Tang find the presence of the risk-taking channel based on a panel of publicly listed bank data in Asia and concludes that “too low” interest rates lead to an increase in bank risk-taking...

 

ADB

Terms of Trade, Foreigh Direct Investment, and Development: A Case of Intra-Asian "Kicking Away the Ladder"? December 2013. K. M. Wacker, P. Großkurth, and T. Lakemann show that FDI has generally beneficial effects on developing countries’ export prices, but has negative effects in the case of South Asia...

 

ADB

Food Security and Nutrition: The Role of Forests, 2013. With a growing global population, much of the current discourse on food security is focussed on increasing and expanding agricultural production. Much of this expansion is speculated to be at the expense of natural systems. However, some suggest that we already grow enough food and food scarcity is primarily caused by inadequate distribution, a lack of purchasing power and other non-productive causes. Thus the emphasis on production alone is not sufficient to guarantee future food security...

 

CIFOR

Chinese Trade and Investment in the Mozambican Timber Industry, 2013. China’s demand for timber has increased dramatically over the past 20 years; today more than 90% of Mozambican timber exports are destined for China. Demand for forest products present both opportunities and challenges for Mozambique. As the country’s sixth largest export, timber represents one of the most important industries and sources of income, yet the intensified search for resources puts pressure on the sustainable management of the forests...

 

CIFOR

Analysis of China's Overseas Investment Policies, 2011. In recent years, in line with China’s Going Out strategy announced in 2000, China’s overseas investment activities have increased greatly and at increasing rates. By the end of 2009, the total value of China’s outward foreign direct investment had reached US$5.6 billion. Policies have played strong supporting roles in bringing about this trend by facilitating and encouraging Chinese companies to make overseas investments...

 

CIFOR

Socio-Economic Considerations for Land Use Planning: The Case of Kapuas Hulu, West Kalimantan, 2013. Understanding the socio-economic conditions, the drivers for land use change and economic development, along with cultural and social characteristics, is essential to ensure that land use decisions are made that ensure positive economic and social outcomes are optimised...

 

CIFOR

APEC Outcomes & Outlook 2013/2014, February 2014. Looking ahead to 2014 and recognizing that traditional growth patterns are changing, China will host APEC under the theme of “Shaping the Future through Asia-Pacific Partnership.” APEC will pursue its agenda through three key priorities during 2014: Advancing Regional Cooperation, Promoting Innovative Development, Economic Reform and Growth, and Strengthening Comprehensive Connectivity and Infrastructure Development.

 

APEC

Progress Report on 2011 Baseline Study on Good Regulatory Practices, February 2014. This 2013 survey of the use of selected GRPs and comparison with APEC’s 2011 GRP Baseline Report confirm that APEC economies continue to invest substantial political and financial resources in improving the quality of their domestic regulatory regimes. The rate of change in the use of GRPs has not slowed from 2011 to 2013; rather, it is accelerating, and there is more attention currently to improving the application of GRPs to get meaningful results on the ground.

 

APEC

Research Outcomes: Summary of Research Projects 2013, February 2014. This report provides the summaries of all research projects that were undertaken during 2013.

 

APEC

APEC, Services, and Supply Chains - Taking Stock of Services-Related Activities in APEC, January 2014.

 

APEC

Start-Up Guide, Building Information Modeling, December 2013. This Start-Up Guide was developed in collaboration with the bimSCORE team in support of work on green building by the APEC Subcommittee on Standards and Conformance (SCSC), through the multi-year project on the Role of Standards and Conformity Assessment Measures in Enhancing the Performance and Energy Efficiency of the Commercial Building Sector.

 

APEC

An Emergent US Security Strategy in Southeast Asia, February 2014. Marvin Ott, Senior Scholar, and Kenneth Ngo, Research Assistant, both at the Woodrow Wilson Center, explain that "Game theory predicts that in a competitive arena with multiple actors, coalitions will form. In Southeast Asia, we are seeing the emergence of an incipient coalition in support of US security strategy."...

 

EWC

Afghanistan - Transition to Transformation: A Role for Australia in Helping Shape Afghanistan's Future, February 2014. The transformation decade will seek to consolidate and build on the outcomes of transition to ensure Afghanistan’s future as a functional, stable and durable state. The Afghanistan National Security Forces (ANSF) will have the lead responsibility for national security during transformation. Although transition still has nearly a year to go, the end-of-2014 scorecard is expected to be a mix of positives and negatives...

 

ASPI

Institute of Southeast Asian Studies - Trends in Southeast Asia 2013
#01: China's Economic Engagement with Southeast Asia: Thailand
#02: Political Islam and Islamist Politics in Malaysia
#03: China's Economic Engagement with Southeast Asia: Indonesia
#04: More Change Awaits Vietnam's Political Economy

 

ISEAS

International Journal of Korean Studies, Volume XVII, Number 2, 2013  

IJKS

International Journal of Korean Studies, Volume XVII, Number 1, 2013  

IJKS

The People's Republic of China's Growth, Stability, and Use of International Reserves, January 2014. In the run-up to the financial crisis, the world economy was characterized by large and growing current account imbalances. Since the onset of the crisis, the People's Republic of China and the United States have rebalanced. As a share of gross domestic product, their current account imbalances are now less than half their pre-crisis levels...

 

ADB

Determinants of the Trilemma Policy Combination, January 2014. This paper presents a theoretical framework for policy making based on the "impossible trinity" or the "trilemma" hypothesis. A simple optimization model shows that placing more weight in terms of preference for each of the three open macroeconomic policies—exchange rate stability, financial market openness, and monetary policy independence—contributes to a higher level of achievement in that particular policy...

 

ADB

Capital Market Financing for SMEs: A Growing Need in Emerging Asia, January 2014. This paper explores the potential of capital market financing for SMEs in emerging Asia, reviewing the challenges of existing SME capital markets and assessing demands on SMEs, regulators, policy makers, market organizes, securities firms, and investors for developing an SME market, based on the findings from intensive surveys...

 

ADB

Japan in East Asia: Challenges and Opportunities for 2014, January 2014. Kei Koga, Assistant Professor at Nanyang Technical University, Singapore, explains that "Japan's diplomacy in 2014 requires strategic patience, and there are three diplomatic steps that could help achieve it."...

 

EWC

Former Iwakuni Mayor Ihara Reflects on the Problem of US Bases in Japan, January 2013. After 9.11, the United States increased its demand for burden-sharing on the part of allies such as Japan and South Korea. In East Asia, the importance of the US presence in both of those countries as a deterrence mechanism was reinforced as political and military tensions grew due to factors including the intensification of China-Japan rivalry and associated nationalisms, territorial disputes and unsettled historical issues...

 

APJ

Bitter Soup For Okinawans - The Governor's Year-End Betrayal, January 2013. In and around Okinawa, events of unparalleled importance continue to unfold, with implications for Japan, the US-Japan and US-Japan-China relationships, and for peace and democracy generally. As former Governor Ota Masahide foresaw earlier in the year, 2013 turned out to be “the worst ever (obviously excluding the utter catastrophe of 1945) for Okinawa.”...

 

APJ

"Why on earth is something as important as this not in the textbooks?"–Teaching Supplements, Student Essays, and History Education in Japan, January 2013. The economic setbacks suffered by Japan in the early 1990s brought with them a sense of social malaise that has lingered to the present. In recent years, only a small minority of Japanese believe that their country is on the right track and while “Abenomics” has public confidence on a slight upswing, it is far too early to tell if this will hold...

 

APJ

Lavish Are The Dead: Re-envisioning Japan's Korean War, December 2013. In 1957, a young Japanese writer published a collection of short stories which quickly attracted nationwide attention. The title of the collection - Shisha no Ogori - is particularly difficult to render into English, but has been translated by John Nathan as Lavish Are The Dead. The writer was Ōë Kenzaburō, and the success of this, his first published book, was the start of a career that would ultimately bring him international fame and a Nobel Prize for literature...

 

APJ

Systems of Irresponsibility and Japan's Internal Colony, December 2013. In the wake of the March 11, 2011 earthquake, tsunami, and nuclear disaster, much has been said about the character of Japan, and especially about Tōhoku and its people. In the early weeks and months, the exceptionally good behavior of an overwhelming majority of Japanese in the face of a disaster of almost unthinkable magnitude was the object of much admiration...

 

APJ

The Uncertain Future of a "New Type" of US-China Relationship, December 2013. President Xi Jinping’s call for a “new type of great-power relationship” in meetings in 2013 with President Obama raises important questions about the future of US-China relations. On the surface, it appeared that the two leaders were on the same page. At the June summit, Obama agreed with Xi that “working together cooperatively” and bringing US-China relations “to a new level” were sound ideas...

 

APJ

Japan's Designated Secrets Protection Law Would Foreclose Criticisms of the Government, December 2013. On December 6, 2013, Japan’s Diet (national assembly) passed a controversial Designated Secrets Protection bill, having rushed it through both chambers in barely a month...

 

APJ

Just Gas? Smart Power and Koizumi's Anti-Nuclear Challenge, December 2013. Japan’s former Prime Minister Koizumi Junichiro has repeatedly called for current Prime Minister Abe Shinzo to make an explicit decision to get out of nuclear power. Koizumi’s full-scale press conference on this matter, held on November 12 in front of 350 journalists, shook up the Abe cabinet...

 

APJ

Back to the Future: Shinto, Ise and Japan's New Moral Educatio, December 2013. Immaculate and ramrod straight in a crisp black suit, Japan’s education minister, Shimomura Hakubun, speaks slowly and deliberately, like a schoolteacher. His brow creases with concern when he talks about Japan’s diminished place in the world, its years of anemic economic growth and poorly competing universities. Mostly, though, he appears worried about the moral and spiritual decline of the nation’s youth...

 

APJ

The Rage of Exile: In the Wake of Fukushima, December 2013. Present government policy is to maintain the status of Nagadoro as a no-go zone for at least another four years. Among the 250 inhabitants is Shoji Masahiko, who until the nuclear disaster supported his wife and four children as a part-time farmer and part-time carpenter. In March of this year, Masahiko handed me the document which, after an inexcusable delay, I have now translated below. The Japanese original follows...

 

APJ

Marines, Missiles, and the Iron Lady: The Military Leg in Japan's Ocean Strategy, December 2013. The complex situation in East Asia and the wider Pacific-Indian Ocean Region is prompting governments to deploy a full range of tools, from economic diplomacy to humanitarian relief operations to declarations of exclusive air space, in their search for a balance between what they consider to be their key national interests and their shared wish to avert open conflict...

 

APJ

The Asia-Pacific in the Eye of Super-storms, December 2013. Super-storm Haiyan made a devastating landfall in the east-central Philippines on November 8, leaving behind a trail of death and destruction that has draped the whole country in a pall of grief. The Philippines has since been reeling from this disaster. The typhoon buffeted the most vulnerable of Filipinos, 40% of whom live below the poverty line (i.e., $1.25 a day)...

 

APJ

Distorting Democracy: Politics by Public Security in Contemporary South Korea, December 2013. Although a full year has not elapsed since the election of South Korea's President Park Geun-hye, there are already troubling signs that her term as President is going to be a difficult period for both the health of Korean democracy and for liberal and progressive political forces...

 

APJ

The Formation and Principles of Count Dürckheim's Nazi Worldview and his interpretation of Japanese Spirit and Zen, December 2013. Japan, the “yellow fist”, as he called the nation in “Mein Kampf”, caused Adolf Hitler a considerable headache. In his racist foreign policy he distrusted the Asians in general and would have preferred to increase European world supremacy by collaborating with the English Nordic race...

 

APJ

The Harbin An Jung-Geun Statue: A Korea/China-Japan Historical Memory Controversy, December 2013. The Chinese and South Korean governments have recently announced the building of a new monument to An Jung-Geun in Harbin. An is most famous for his 1909 assassination of Itō Hirobumi, a high Japanese official who framed the Meiji constitution, served as prime minister, and is credited with being one of the great modernizers of the Meiji period...

 

APJ

Environmental Restoration of Former US Military Bases in Okinawa, November 2013. US military bases south of Kadena are slated to be returned to Okinawa, although that is only to happen at various times up to “2028 or later,” and their environmental restoration is an important local issue...

 

APJ

Introduction: The Continued Saga of the Henoko Base and Japan-US-Okinawa Relations, November 2013. Okinawa may have temporarily receded from the headlines, but the contradictions and conflicts that have roiled it for most of the post-War era, in acute form now for 17 years, have not been resolved...

 

APJ

Workshop to Support the Development of National Lighting Design Centers in APEC Region, December 2013. This report presents the outcome from presentations and discussions, and is organized in three themes 1) The opportunities of lighting design research for sustainable development 2) Research focus areas in APEC region 3) Recommendations on a model for effective lighting design center as well as a framework on next steps for the development of national lighting design centers in interested APEC economies...

 

APEC

Funds Flow and Financial Control Analysis of the Student Financial Assistance Programs (StuFAP), February 2014

 

PIDS

Millennium Development Goals Scenarios to 2015 and Beyond: An Integrated Micro-Macro Modelling Approach, February 2014

 

PIDS

Schooling Outcomes in the Philippines, 1988-2008: Impacts of Changes in Household Income and the Implementation of the Free Public Secondary Education Act (RA 6655), February 2014

 

PIDS

Industry-Academe Collaboration for Research and Development, January 2014

 

PIDS

Assessment of Student Financial Assistance Programs (StuFAP) Policies, Procedures, and Control Mechanisms, January 2014

 

PIDS

Environmental Aspects of a Potential Philippines-European Union Free Trade Agreement, January 2014

 

PIDS

Enhancing Supply Chain Connectivity and Competitiveness of ASEAN Agricultural Products: Identifying Choke Points and Opportunities for Improvement, January 2014

 

PIDS

Disasters, Poverty, and Coping Strategies: The Framework and Empirical Evidence from Micro/Household Data - Philippine Case, January 2014

 

PIDS

Prospects for a Philippines-European Union Free Trade Agreement: Implications for Agriculture, January 2014

 

PIDS

An Analysis of the Philippine Offensive and Defensive Interests in the Non-agricultural Sector: Inputs to the Philippines-European Union Free Trade Agreement, January 2014

 

PIDS

The Potential Impacts of a Free Trade Agreement with the European Union on the Philippine Fisheries Sector, January 2014

 

PIDS

Growth and Redistribution: Is there 'Trickle Down' Effect in the Philippines? January 2014

 

PIDS

Financing Infrastructure in the Philippines: Fiscal Landscape and Resources Mobilization, January 2014

 

PIDS

Using the Social Rate of Discount in Evaluating Public Investments in the Philippines, January 2014

 

PIDS

How Should We Move Forward in Customs Brokerage and Trade Facilitation? January 2014

 

PIDS

Economic Growth Must Translate to Better Health Outcomes, October-December 2013

 

PIDS

Social Protection Policies on Spotlight as Manila Hosts 14th GDN Meet, July-September 2013

 

PIDS

Journal of Bhutan Studies, Volume 27, Winter 2012  

Bhutan

 

 

 

 

 

 

 

 

 
 

  

 
 

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