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Articles 1 - 30 of 30
Full-Text Articles in Asian Studies
The Vientiane Report: National Landscape, Current Challenges And Opportunities For Growt, Institute For Societal Leadership, Lai Cheng Lim
The Vientiane Report: National Landscape, Current Challenges And Opportunities For Growt, Institute For Societal Leadership, Lai Cheng Lim
Institute of Societal Leadership Research Collection
Laos is a small, landlocked, mountainous country in Southeast Asia. As a country, it shares borders with Myanmar and the People’s Republic of China to the Northwest, Vietnam to the East, Cambodia to the South and Thailand to the West.
The Dili Report: National Landscape, Current Challenges And Opportunities For Growth, Institute For Societal Leadership, Lai Cheng Lim
The Dili Report: National Landscape, Current Challenges And Opportunities For Growth, Institute For Societal Leadership, Lai Cheng Lim
Institute of Societal Leadership Research Collection
Timor-Leste, Asia’s newest nation, is located in Southeast Asia, on the southernmost edge of the Indonesian archipelago. The country was colonised by the Portuguese for over 450 years, occupied by the Indonesians for 24 years and administered by the United Nations for two and a half years. As a nation, Timor-Leste has had a very traumatic birth.
Executive Overreach By Minority Governments, Madhav S. Aney, Shubhankar Dam
Executive Overreach By Minority Governments, Madhav S. Aney, Shubhankar Dam
Research Collection School Of Economics
A provision in the Indian constitution allows the executive to make laws in the event oneof the two houses of parliament is not in session. This provision was intended to allow theexecutive to act in case there’s an immediate legislative necessity and the parliament cannotbe convened. Using a bargaining model with asymmetric information we show how partieswithin the parliament may reach an agreement on legislations when the ruling party does notcommand a majority (minority government). The model makes predictions about lawmakingpatterns by the legislature when the parliament is in session, and ordinances by the executivewhen the parliament is not in …
Emil Salim [Indonesia, Minister Of Environment], Emil Salim
Emil Salim [Indonesia, Minister Of Environment], Emil Salim
Digital Narratives of Asia
Emil Salim was part of the famed Berkeley Mafia who brought Indonesia out of its economic crisis in the mid-1960s. He later went on to become Minister of Environment in President Suharto's cabinet. He speaks to DNA about how he overcame obstacles in his career, even when he did have subject knowledge, and what it was like working with President Suharto.
Unleashing Asean's Potential Through Aec, Michael Zink
Unleashing Asean's Potential Through Aec, Michael Zink
Asian Management Insights
The Association of Southeast Asian Nations (ASEAN) has set an ambitious goal to integrate the economies of its ten members by 2015, a move that is aimed at boosting the bloc’s competitiveness and creating development across the region that is more equitable. With the target date for Southeast Asia's countries to create a single economic market just months away, increasing attention is being paid to the region's vast economic potential. If successful, the formation of the ASEAN Economic Community (AEC) will not only create one of the world’s largest integrated economic spheres, but will add vastly to the appeal of …
It’S Not Will You Succeed? But Can You Afford To Fail?, Girija Pande
It’S Not Will You Succeed? But Can You Afford To Fail?, Girija Pande
Asian Management Insights
With India and China’s economic ties no longer defined only by trade, the countries’ convergence is opening up new opportunities and challenges for businesses on either side seeking to cross the Sino-Indian border.
Mind The Liquidity Gap: Building A Better Capital Market For You, Kaushik Rudra
Mind The Liquidity Gap: Building A Better Capital Market For You, Kaushik Rudra
Asian Management Insights
Asian banks in most jurisdictions are currently more than adequately capitalised with respect to Basel III. However, as they are called upon to support the region’s economic growth over the next decade, they are likely to run up against capital constraints.
Do Asian Conglomerates Offer Attractive Risk-Adjusted Returns?, Nandini Vijayaraghavan
Do Asian Conglomerates Offer Attractive Risk-Adjusted Returns?, Nandini Vijayaraghavan
Asian Management Insights
Research on a sample of seven Asian conglomerates shows that stocks of some of these companies not only outperformed the S&P 500, but also exhibited lower volatility.
The Yangon Report: National Landscape, Current Challenges And Opportunities For Growth, Institute For Societal Leadership, John W. Ellington
The Yangon Report: National Landscape, Current Challenges And Opportunities For Growth, Institute For Societal Leadership, John W. Ellington
Institute of Societal Leadership Research Collection
Since its independence from British rule in 1948, Myanmar has struggled with multiple obstacles, including a series of violent internal ethnic and sectarian conflicts, isolationist fiscal policies instituted by an increasingly distrustful military government and international sanctions and condemnation following government crackdowns in 1988 and 2007. In spite of all these setbacks, President Thein Sein’s decision in 2011 to liberalise the country’s political and economic systems has created a new wave of optimism for what was once commonly regarded as a failed state.
Wage, Income And Consumption Inequality In Japan, 1981-2008: From Boom To Lost Decades, Jeremy Lise, Nao Sudo, Michio Suzuki, Ken Yamada, Tomoaki Yamada
Wage, Income And Consumption Inequality In Japan, 1981-2008: From Boom To Lost Decades, Jeremy Lise, Nao Sudo, Michio Suzuki, Ken Yamada, Tomoaki Yamada
Research Collection School Of Economics
In this paper we document the main features of the distributions of wages, earnings, consumption and wealth in Japan since the early 1980s using four main data sources: the Basic Survey on Wage Structure (BSWS), the Family Income and Expenditure Survey (FIES), the National Survey of Family Income and Expenditure (NSFIE) and the Japanese Panel Survey of Consumers (JPSC). We present an empirical analysis of inequality that specifically considers the path from individual wages and earnings, to household earnings, after-tax income, and finally consumption. We find that household earnings inequality rose substantially over this period. This rise is made up …
A New Hedonic Regression For Real Estate Prices Applied To The Singapore Residential Market, Jiang Liang, Peter C. B. Phillips, Jun Yu
A New Hedonic Regression For Real Estate Prices Applied To The Singapore Residential Market, Jiang Liang, Peter C. B. Phillips, Jun Yu
Research Collection School Of Economics
This paper develops a new hedonic method for constructing a real estate price index that utilizes all transaction price information that encompasses both single-sale and repeat-sale properties. The new method is less prone to specification errors than standard hedonic methods and uses all available data. Like the Case-Shiller repeat-sales method, the new method has the advantage of being computationally efficient. In an empirical analysis of the methodology, we fit the model to all transaction prices for private residential property holdings in Singapore between Q1 1995 and Q2 2014, covering several periods of major price fluctuation and changes in government macro …
Is Urban Food Demand In The Philippines Different From China?, Tomoki Fujii
Is Urban Food Demand In The Philippines Different From China?, Tomoki Fujii
Research Collection School Of Economics
It is essential to understand the consumption pattern of food and how it changes over time to formulate sound economic policies as well as marketing and pricing strategies. In this study, we estimate the Quadratic Almost Ideal Demand System with six rounds of the Family Income Expenditure Survey exploiting the conditional linearity of the demand system. We find that the Filipino diet has become westernized and that the changes in urban food demand elasticities are qualitatively similar to those in urban China, especially for meat, fruits, and vegetables.We also offer some policy and business implications.
Exchange Rates And Export Structure, Wen-Tai Hsu, Yi Lu, Yingke Zhou
Exchange Rates And Export Structure, Wen-Tai Hsu, Yi Lu, Yingke Zhou
Research Collection School Of Economics
This paper studies whether changes in the exchange rate affect a country’s export structure, using an arguably exogenous sudden appreciation of renminbi on July 21, 2005 as the main source of identification. Employing combined regression discontinuity and difference-in-differences approach, we show that China’s export structure became more similar to that of the developed countries after the currency appreciation. We also find that the majority of the appreciation effect comes from the inter-firm resource reallocation rather than the inter-region or intra-firm resource reallocation.
Wage A Measured Battle Against The Bottle, Tan K. B. Eugene
Wage A Measured Battle Against The Bottle, Tan K. B. Eugene
Research Collection Yong Pung How School Of Law
In a commentary, SMU Associate Professor of Law and Nominated Member of Parliament Eugene Tan believed that there are legitimate and pressing concerns to justify the close scrutiny of the existing regime on alcohol sale and consumption. He felt that the authorities could leverage market research data to understand the drinking culture and norms here and generate nuanced regulatory responses to alcohol sale and consumption. The insights gleaned from such research could aid our understanding of the dynamics of the drinking culture here. Associate Prof Tan added that the key policy challenge in the review process is to tackle the …
International Transmission Of Interest Rates And The Open Economy Trilemma In Asia, Hwee Kwan Chow
International Transmission Of Interest Rates And The Open Economy Trilemma In Asia, Hwee Kwan Chow
Research Collection School Of Economics
There has recently been much discussion on the relevance of the open economy trilemma in the context of deepening financial integration of countries across the world (see for instance, Rey (2013) and Devereux and Yetman (2014)). The open economy trilemma is an important issue for the countries in Asia not least because their financial systems are small and exchange rate stability is crucial to their economic growth. This paper investigates whether the economies in Asia are still bound by the "impossible trinity" by examining the interest rate transmission from the US to the region before and after the onset of …
Marriage And Child Bearing, Kong Weng Ho
Marriage And Child Bearing, Kong Weng Ho
Research Collection School Of Economics
This chapter considers the impact of existing incentives and policies to encourage marriage and child-birth, and other direct and indirect ways to raise the total fertility rate (TFR).
Why Cpf-Style Systems Generally Work Better, Hian Teck Hoon
Why Cpf-Style Systems Generally Work Better, Hian Teck Hoon
Research Collection School Of Economics
The Central Provident Fund (CPF) has been in existence since 1955, and plays an important role in the lives of millions of Singaporeans. But this does not mean there is nothing to be learnt from asking some fundamental questions about its usefulness.
Singapore’S Competitiveness At Risk, Augustine H. H. Tan
Singapore’S Competitiveness At Risk, Augustine H. H. Tan
Research Collection School Of Economics
Singapore’s disappointing second-quarter growth of 2.1 per cent compared with the same period last year has raised concerns about the impact of economic restructuring. When compared with the last quarter, growth even dipped 0.8 per cent. At the same time, productivity performance has been dismal. After rising by 2.2 per cent in 2011, productivity dropped by 1.4 per cent in 2012 and another 0.2 per cent last year.
Managing Private Vehicles In Asian Cities, Sock-Yong Phang
Managing Private Vehicles In Asian Cities, Sock-Yong Phang
Research Collection School Of Economics
Asia's rapid urbanization and growing incomes have resulted in a corresponding booming market in motor vehicle sales. In 2013, an estimated 18 million new passenger cars were sold in China. Motor vehicle users generate congestion, pollution, accidents, noise and road damage. Yet, in most cities motor vehicle users often do not pay the full social costs and are therefore implicitly subsidized by non-users. According to the Tom Tom Traffic Index, which is based on GPS data, motorists in the worst congested cities in developed countries spend up to 40% more time for peak hour commutes. This level of delay is …
Is The Renminbi East Asia’S Dominant Reference Currency? A Reconsideration, Hwee Kwan Chow
Is The Renminbi East Asia’S Dominant Reference Currency? A Reconsideration, Hwee Kwan Chow
Research Collection School Of Economics
Recent empirical studies show that the Chinese currency renminbi is either becoming or has become a dominant reference currency in Asia. However, the high correlation between the US dollar and renminbi movements hampers the identification of their individual effects on the Asian currencies. In particular, the application of Frankel-Wei regressions to determine the weights of the US dollar and the (unorthogonalized) renminbi in the implicit currency baskets could suffer from endogeneity problems that produce an upward bias in renminbi’s estimated weight. This paper reviews the evidence by applying country-specific VAR models to daily exchange rate data from nine Asian economies …
Wealth Management In Singapore, Francis Koh
Wealth Management In Singapore, Francis Koh
Research Collection Lee Kong Chian School Of Business
As early as 2015, Singapore may oust Switzerland as the world’s top finance hub. But the path forward requires adjustments in the strategic direction of individual firms. Wealth management in Singapore is vibrant, growing, challenging.
Commodity Super Cycles: A Reality Check, Maureen Derooij
Commodity Super Cycles: A Reality Check, Maureen Derooij
Asian Management Insights
Do commodity super cycles exist, or are we simply seeing patterns in randomness? More importantly, are we in the middle of one that is showing signs of going bust?
The Fundamental Law Of Highway Congestion Revisited: Evidence From National Expressways In Japan, Wen-Tai Hsu, Hongliang Zhang
The Fundamental Law Of Highway Congestion Revisited: Evidence From National Expressways In Japan, Wen-Tai Hsu, Hongliang Zhang
Research Collection School Of Economics
The fundamental law of highway congestion states that when congested, the travel speed on an expanded expressway reverts to its previous level before the capacity expansion. In this paper, we propose a theory that generalizes this statement and finds that if there exists a coverage effect, that is, the effect of longer road length on traffic conditional on capacity, then the new equilibrium travel speed could be lower than its previous level. Given the fundamental law, the theory predicts that the elasticity of traffic to road capacity is at least 1. We estimate this elasticity for national expressways in Japan …
Long-Term Health Effects Of Malaria Exposure Around Birth: Evidence From Colonial Taiwan, Simon Chang, Belton Fleisher, Seonghoon Kim, Shi-Yung Liu
Long-Term Health Effects Of Malaria Exposure Around Birth: Evidence From Colonial Taiwan, Simon Chang, Belton Fleisher, Seonghoon Kim, Shi-Yung Liu
Research Collection School Of Economics
In the early 20th century, the Japanese colonial government initiated an island-wide malaria eradication campaign in Taiwan, resulting in not only a rapid decline in malaria across time but also elimination of disparity across regions. Exploiting variations in malaria deaths caused by the campaign, we estimate causal effects of malaria exposure around birth on the health of elderly born in the colonial period. To mitigate potential biases caused by measurement errors and omitted confounders, we employ climatic factors to instrument for malaria deaths. Our findings suggest that people who were exposed to a high malaria risk around birth tend to …
Improving Money's Worth Ratio Calculations: The Case Of Singapore's Pension Annuities, Joelle H. Y. Fong, Jean Lemaire, Yiu Kuen Tse
Improving Money's Worth Ratio Calculations: The Case Of Singapore's Pension Annuities, Joelle H. Y. Fong, Jean Lemaire, Yiu Kuen Tse
Research Collection School Of Economics
This article contributes to a better understanding of the risks involved in a life annuity investment. We examine the distribution of weighted annuity benefits and assess various measures of dispersion such as the coefficient of variance. In particular, we quantify the standard deviation about the expected value, thereby extending the usefulness of the popular money’s worth framework for annuity valuation. The effort toward a more detailed and more accurate risk picture of investing in annuities enables retirees to differentiate among products that may appear seemingly uniform in terms of money’s worth, but vary widely in terms of their risk attributes.
Monetary Regime Choice In Singapore: Would A Taylor Rule Outperform Exchange-Rate Management?, Hwee Kwan Chow, G. C. Lim, Paul D. Mcnelis
Monetary Regime Choice In Singapore: Would A Taylor Rule Outperform Exchange-Rate Management?, Hwee Kwan Chow, G. C. Lim, Paul D. Mcnelis
Research Collection School Of Economics
This paper adopts a dynamic stochastic general equilibrium-vector autorgressive (DSGE-VAR) approach to examine the managed exchange-rate system at work in Singapore. We examine if the country has any reason to fear floating the exchange rate and adopting a Taylor rule. Our results show that, in terms of overall inflation volatility, the exchange rate rule has a comparative advantage over the Taylor rule when export price shocks are the major sources of real volatility, while a Taylor rule dominates when domestic productivity shocks drive real volatility. The exchange-rate rule also dominates the Taylor rule for reducing inflation persistence.
The Lasting Impact Of Parental Early Life Malnutrition On Their Offspring: Evidence From The China Great Leap Forward Famine, Seonghoon Kim, Quheng Deng, Belton M. Fleisher, Shi Li
The Lasting Impact Of Parental Early Life Malnutrition On Their Offspring: Evidence From The China Great Leap Forward Famine, Seonghoon Kim, Quheng Deng, Belton M. Fleisher, Shi Li
Research Collection School Of Economics
We investigate whether the effects of parents’ in utero malnutrition extend to the second generation (their children). Specifically, we explore whether the second generation’s level of schooling is negatively impacted by their parents’ malnutrition in utero, using the China Famine as a natural experiment. We find that, the impact of mother’s in utero malnutrition due to the Famine reduced second generation male and female entrance into junior secondary school by about 5–7 percentage points. We measure famine severity with provincial excess death rates instrumented by measures of adverse climate conditions, which corrects for possible biases induced by measurement errors and …
Budget 2014 Is About Doing The Right Thing, Tan K. B. Eugene
Budget 2014 Is About Doing The Right Thing, Tan K. B. Eugene
Research Collection Yong Pung How School Of Law
In a commentary, SMU Associate Professor of Law and NMP Eugene Tan opined that the Budget’s move for the Pioneer Generation Package (PGP) was important and the right thing to do, as it mattered politically, and provided benefits and assurance to the pioneers. He said it was wise to set aside the $8b cost of the package, so future generations would not bear the cost of financing it. The Budget had acknowledged its role in caring for the elderly as well as preparing for the future and promoting social mobility through education assistance schemes for the children of lower earners, …
The Makings Of A Social Investment State, Tan K. B. Eugene
The Makings Of A Social Investment State, Tan K. B. Eugene
Research Collection Yong Pung How School Of Law
In a commentary, SMU Associate Professor of Law and NMP Eugene Tan opined that the Budget was an economic, political and social instrument, and not just a fiscal policy instrument. He said that key economic themes persisted in Budget 2014: productivity, restructuring, reducing reliance on foreign labour and long-term planning. He highlighted that the Budget was dominated by social themes, as it exuded inclusiveness, equity and gratitude. The Government’s expansion of schemes to reduce the income gap and improve social mobility was actually a move to make up for its lack of investments in the social sector in past years, …
Dynamic Poverty Decomposition Analysis: An Application To The Philippines, Tomoki Fujii
Dynamic Poverty Decomposition Analysis: An Application To The Philippines, Tomoki Fujii
Research Collection School Of Economics
In this paper, we propose a new method of poverty decomposition. Our 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 us to decompose the change in poverty into growth and redistribution components for each group (e.g., regions or sectors) in the economy. We extend our method to include six components and provide an empirical application to the Philippines for the period 1985–2009.