Social and Behavioral Sciences Commons^™

Integrating Business Opportunities In An Emerging Asian Economy: Perspectives From Singapore's Gambit In Vietnam, Ai Lin Leong, David David, Caroline Yeoh

Research Collection Lee Kong Chian School Of Business

To date, Singapore’s regionalization strategy has been applied in China, India, Indonesia and Vietnam through the establishment of industrial parks. The nexus between these ‘clones’ is the implantation of Singapore’s positive business ethos amidst more uncertain host environments. Leveraging on world-class infrastructure, efficiency and location-specific advantages, these industrial parks present themselves as low-cost investment enclaves. This paper focuses on the regional industrial development project assembled, administered and promoted by the sovereign national governments of Singapore and Vietnam. Using in-depth case studies, it examines the push-pull factors for firms with different structures. It finds that progress in this privileged foreign investment …

Production And Political Economy In The Animation Industry: Why Insourcing And Outsourcing Occur, Feichin, Ted Tschang, Andrea Goldstein

Research Collection Lee Kong Chian School Of Business

This paper presents a framework for explaining production patterns in creative industries. In particular, we focus on the conditions under which insourcing occurs in the US threedimensional animation industry and where outsourcing in the conventional two-dimensional animation industry occurs to the Philippines. The work that is outsourced is not the most creative component of the entire production process. Institutional decisions (as related to the location of decision makers and primary markets), and business conditions in the world market, have both positively and negatively affected the local Filipino industry and its position within the global division of labor. Implications for knowledge-based …

Indonesian Economic Development: Miracle Or Mirage?, John Malcolm Dowling, Chin Fang Yap

Research Collection School Of Economics

This paper focuses on a few major developments that took place during the three decades from the late 1960s to the Asian financial crisis. The study finds, in retrospect, that many of the Indonesian economy's weaknesses--now so glaringly apparent--were there all the time. The paper concludes that the Indonesian banking crisis was primarily domestic in nature, more so than the crises in Korea and Thailand. The extent of the failure was much more widespread and probably resulted from a chain of bank runs and bank closings, reinforced by uncertainty and lack of faith in the government's commitment to the IMF …

Exporting Expertise: The Singapore Experience In Vietnam, Caroline Yeoh, Siang Yeung Wong, Amrit Vaidyanath

Research Collection Lee Kong Chian School Of Business

Infrastructure can be unreliable and administration subject to corruption in Asia’s rapidly emerging economies. This context presented Singapore with unique opportunities to export its ‘positive reputation’ to locations where these attributes are less certain. The strategic initiative is premised on the perception that Singapore’s good relations with multinationals, as well as ‘guanxi’, or connections, with Asian business networks, will give the industrial-township projects a marketing advantage. To complement the extensive literature on Singapore’s flagship projects in Indonesia and China, this paper takes a closer look at Singapore’s lesser-known project in Vietnam. Evidence from on-site surveys is presented. It finds that …

From Efficiency-Driven To Innovation-Driven Economic Growth: Perspectives From Singapore, Kim Song Tan, Sock-Yong Phang

Research Collection School Of Economics

The Singapore economy is going through a period of major restructuring. Economic stagnation since the 1997 Asia financial crisis (except for a brief recovery in 1999) has called into question the continued relevance of many fundamental policies that had worked well in the past. In 2002, a high-level Economic Review Committee (ERC) was convened by the government to chart new directions for the economy. A common thread that ran through the committee’s various reports was a call to enhance the economy’s innovative capacity, with the aim of making Singapore an innovation hub in the region. The call reflects an increased …

Emotions Across Cultures And Methods, Christie N. Scollon, Ed Diener, Shigehiro Oishi, Robert Biswas-Diener

Research Collection School of Social Sciences

Participants included 46 European American, 33 Asian American, 91 Japanese, 160 Indian, and 80 Hispanic students (N = 416). Discrete emotions, as well as pleasant and unpleasant emotions, were assessed: (a) with global self-report measures, (b) using an experience-sampling method for 1 week, and (c) by asking participants to recall their emotions from the experience sampling week. Cultural differences emerged for nearly all measures. The inclusion of indigenous emotions in India and Japan did not alter the conclusions substantially, although pride showed a pattern across cultures that differed from the other positive emotions. In all five culturalgroupsandforbothpleasantandunpleasantemotions,globalreportsof emotionpredictedretrospective recall even …

Institutional Change And Persistence: The Evolution Of Poland's Electoral System, 1989-2001, Kenneth Benoit, Jacqueline Hayden

Research Collection School of Social Sciences

Electoral systems are uniquely distributive political institutions that shape political outcomes, yet are themselves endogenously shaped outcomes of political choices. In Poland, party system development has involved not only parties adapting to electoral institutions in each election, but also parties modifying these institutions prior to every election. We model electoral system change as driven by partisan self-interest in maximizing seat share and test it in five episodes of electoral system change in Poland from 1989 to 2001, comparing parties’ support for electoral law alternatives to their expectations of seat shares from those alternatives. Data consists of opinion polls, roll-call votes, …

Smu Receives Record S$200 Million -- Fund To Go Towards Scholars Programme, Fund For Excellence And Endowment For The University, Singapore Management University

SMU Press Releases and News

No abstract provided.

Integrating Business Opportunities In Contiguous Economies: Perspectives From Singapore's Gambit In Indonesia, Caroline Yeoh, Sang M Lee, W. Ra Jang

Research Collection Lee Kong Chian School Of Business

No abstract provided.

What Has Luck Got To Do With Economic Development? An Interpretation Of Resurgent Asia's Growth Experience, Hing-Man Leung, Swee Liang Tan, Zhenlin Yang

Research Collection School Of Economics

This paper critically reexamines the belief, currently gathering strength in the literature, that economic development depends on good luck rather than on good policy, and that Prometheus is unchained by chance. While it is impossible to disprove the role of luck in growth, we argue that luck is endogenous, and good luck is a function of good policy. Luck favours those who strive. Again contrary to common belief, we show that resurgent Asian economies have endured more, not less, than their fair share of economic volatility. They learned their lessons by success and failures, and luck is endogenous through learning-by-investing.

On Leverage In A Stochastic Volatility Model, Jun Yu

Research Collection School Of Economics

This paper is concerned with specification for modelling financial leverage effect in the context of stochastic volatility (SV) models. Two alternative specifications co-exist in the literature. One is the Euler approximation to the well known continuous time SV model with leverage effect and the other is the discrete time SV model of Jacquier, Polson and Rossi (2004, Journal of Econometrics, forthcoming). Using a Gaussian nonlinear state space form with uncorrelated measurement and transition errors, I show that it is easy to interpret the leverage effect in the conventional model whereas it is not clear how to obtain the leverage effect …

A Semi-Parametric Two-Component Compound Mixture Model And Its Application To Estimating Malaria Attributable Fractions, Jing Qin, Denis H. Y. Leung

Research Collection School Of Economics

Malaria remains a major epidemiologic problem in many developing countries. Malaria is defined as the presence of parasites and symptoms (usually fever) due to the parasites. In endemic areas, an individual may have symptoms attributable either to malaria or to other causes. From a clinical viewpoint, it is important to correctly diagnose an individual who has developed symptoms so that the appropriate treatments can be given. From an epidemiologic and economic viewpoint, it is important to determine the proportion of malaria-affected cases in individuals who have symptoms so that policies on intervention program can be developed. Once symptoms have developed …

Behind Closed Doors: Governmental Transparency Gives Way To Secrecy, Ann Florini

Research Collection School of Social Sciences

A few years ago, I sat at a table in a Washington think-tank with a group of mid-level Japanese officials. They were spending several weeks in the United States on a study tour, and I was meeting with them to give a talk on governance and access to information. Japan had recently passed, but not yet implemented, a sweeping freedom of information law, and the bureaucrats were puzzled about how they were to implement it. Or even whether they should implement it. After all, as one earnest young woman asked, if the government starts giving people information, they might want …

Re-Examining Public Policy: A Case For Conditional Fees In Singapore?, Gary Chan

Research Collection Yong Pung How School Of Law

Conditional fee agreements are currently prohibited in Singapore. The Singapore courts still adhere to the public policy considerations expressed in the English common law which proscribe maintenance and champerty. However, the United Kingdom as well as Ontario (Canada) and Australia have recently ‘departed’ from the old system prohibiting conditional fee agreements. It is thus timely for Singapore to re-examine the public policy arguments against conditional fee agreements and inquire whether a conditional fee based system ought to be introduced. Apart from the above jurisdictions, lessons will also be drawn from the problems and issues faced by the US and the …

The Impact Of War And Wartime On Transition To Adulthood: Vietnam, 1940-1990, Bussarawan Teerawichitchainan

Research Collection School of Social Sciences

During the latter half of the 20th century, Vietnam experienced nearly continuous wars, including the Vietnam War (1965-1975). Wars afflicted young Vietnamese adults most and left profound imprints on the life course of those who survived. Based on the 1995 Vietnam Longitudinal Survey, my study uses the life course approach to document how war affects the timing and sequencing of early life course transitions for the Vietnamese growing up between the 1940s and the 1990s. The life course transitions examined include leaving school and entering labor force and first marriage and first birth. I study the impact of war by …

How To Be Chinese: Ethnic Chinese Experience A 'Reawakening' Of Their Chinese Identity, Chang Yau Hoon

Research Collection School of Social Sciences

The post-Suharto era is an exciting period for Chinese Indonesians and other minority ethnic groups in Indonesia. After over three decades of cultural and political repression, Chinese Indonesians are now being given the opportunity to express their identity. The re-emergence of Chinese religion, language, and press in Indonesia since the end of the New Order, has had a significant impact on the development of ethnic Chinese identity. The strongly anti-Chinese sentiment expressed in the May 1998 riots in Jakarta and elsewhere in Indonesia, including the looting of Chinese-owned shops and businesses and the racially-motivated rapes, drastically altered the position of …

Social Trust And Economic Governance, Fali Huang

Research Collection School Of Economics

The paper investigates the dynamic relationship between social trust and economic governance using a principal-agent model with stochastic returns. To mitigate the inherent moral hazard problem both intrinsic and extrinsic incentives are useful. The cooperative tendency of an agent measures his intrinsic discipline against shirking, the distribution of which characterizes social trust in society. The economic governance methods include direct monitoring and efficiency wage. The main results are the following. An agent with a higher cooperative tendency needs less monitoring and a lower wage to make effort, which brings higher profit for the principal. But competition among principals for more …

Contextualism Reconsidered: Some Skeptical Reflections, Chandran Kukathas

Research Collection School of Social Sciences

A number of theorists have touted the merits of the contextual approach to political theory, arguing that a close examination of real-world cases is more likely to yield both theoretical insight and practical solutions to pressing problems. This is particularly evident, it is argued, in the field of multiculturalism in political theory. The present paper offers some skeptical reflections on this view, arguing the merits of a view of political theory which sees the contextual approach as less distinctive than its proponents imagine, and less useful than many would suggest. It maintains that there are serious limits to what political …

Revised Estimates Of Dimension And Exercise Variance Components In Assessment Center Postexercise Dimension Ratings, Charles E. Lance, Tracy A. Lambert, Amanda G. Gewin, Filip Lievens, James M. Conway

Research Collection Lee Kong Chian School Of Business

The authors reanalyzed assessment center (AC) multitrait-multimethod (MTMM) matrices containing correlations among postexercise dimension ratings (PEDRs) reported by F. Lievens and J. M. Conway (2001). Unlike F. Lievens and J. M. Conway, who used a correlated dimension-correlated uniqueness model, we used a different set of confirmatory-factor-analysis-based models (1-dimension-correlated Exercise and 1-dimension-correlated uniqueness models) to estimate dimension and exercise variance components in AC PEDRs. Results of reanalyses suggest that, consistent with previous narrative reviews, exercise variance components dominate over dimension variance components after all. Implications for AC construct validity and possible redirections of research on the validity of ACs are discussed.

Get The Smu Edge: Make A Difference [Advertisement], Singapore Management University

SMU Press Releases and News

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The Empirical Relationship Between Exchange Rates And Interest Rates In Post-Crisis Asia, Hwee Kwan Chow, Yoonbai Kim

Research Collection School Of Economics

In post-crisis Asia, all crisis-hit countries (except Malaysia) announced a shift from exchange rate based monetary policy framework to the explicit adoption of inflation targeting that uses interest rates as the key monetary policy operating instrument. In this study, we examine the empirical relationship between exchange rates and interest rates, and investigate how the dynamics between them have changed following the crisis. This is carried out by constructing a bivariate VAR-GARCH model for each of the four Asian crisis countries, namely Indonesia, Korea, Philippines and Thailand. The findings suggest these countries do not use interest rate policy more actively to …

Trade, Capital Accumulation And Structural Unemployment: An Empirical Study Of The Singapore Economy, Hiau Looi Kee, Hian Teck Hoon

Research Collection School Of Economics

This paper studies the factors responsible for the secular decline of Singapore’s unemployment rate over the period 1966-2000 in an environment of low and stable inflation rates. We introduce wage bargaining and unions into a specific-factors, two-sector economy with an export sector and a non-tradable sector to obtain an endogenous natural unemployment rate. Increases in the relative export price and capital stock in the export sector are predicted to reduce structural unemployment. These hypotheses could not be rejected based on structural estimations and co-integration regressions. Empirically, capital accumulation in the export sector explains most of the decline in Singapore’s unemployment …

Road Congestion Pricing In Singapore: 1975-2003, Sock-Yong Phang, Rex S. Toh

Research Collection School Of Economics

Facing traffic congestion in the Central Business District and enormous demands on scarce land resources by the growing number of motor vehicles, Singapore, a small island city-state the size of Seattle, embarked on a bold decision to reduce road congestion by implementing the famous Area Licensing Scheme in 1975. This was a manual system of tolls for multiple entries into the Restricted Zone. While achieving the intended effect of cutting down on the volume of vehicular traffic in the Restricted Zone, the authors (and others) found that the problem of congestion had merely shifted in time and place. Many changes …

Modeling The Firm-Size Distribution Using Box-Cox Heteroscedastic Regression, Zhenlin Yang, Yiu Kuen Tse

Research Collection School Of Economics

Using the Box-Cox regression model with heteroscedasticity (BCHR), we re‐examine the size distribution of the Portuguese manufacturing firms studied by Machado and Mata (2000) using the Box-Cox quantile regression (BCQR) method. We show that the BCHR model compares favourably against the BCQR method. In particular, the BCHR model can answer the key questions addressed by the BCQR method, with the advantage that the estimated quantile functions are monotonic. Furthermore, confidence intervals of the regression quantiles are easy to compute, and the estimation of the Box-Cox heteroscedastic regression is straight forward.

Is Global Civil Society A Good Thing?, Ann Florini

Research Collection School of Social Sciences

Washingtons — Tanks in the streets of Seattle in 1999. Molotov cocktails in Prague in 2000. Gunfire in Genoa in 2001. A hundred thousand people gathering every winter in a World Social Forum to talk about how to improve the world. Global agreements on everything from human rights protections to banning weapons systems. Fifteen million people on the streets in cities around the world on a single day in 2003 to protest the Iraq war. These headlines reflect the rise of a force now so potent in world affairs that the New York Times has referred to it as “the …

Bargaining And Competition Revisited, Takashi Kunimoto, Roberto Serrano

Research Collection School Of Economics

We show the robustness of the Walrasian result obtained in models of bargaining in pairwise meetings. Restricting trade to take place only in pairs, most of the assumptions made in the literature are dispensed with. These include assumptions on preferences (differentiability, monotonicity, strict concavity, bounded curvature), on the set of agents (dispersed characteristics) or on the consumption set (allowing only divisible goods).

Why Is China So Competitive? Measuring And Explaining China's Competitiveness, F. Gerard Adams, Byron Gangnes, Yochanan Shachmurove

Research Collection School Of Economics

This paper evaluates factors responsible for the competitiveness of China in the world economy and relative to its East Asian rivals. China has been highly successful in capturing world export markets. Chinese competitiveness is not just a matter of an undervalued exchange and extremely low labor costs. It reflects primarily the coincidence of favorable cost conditions with improvements in China’s ability to produce products that meet world market specifications. These improvements are closely related to foreign participation in China’s economy through foreign direct investment and joint venture enterprises.

Have U.S. - Japan Trade Agreements Made A Difference?, Byron Gangnes, Craig Parsons

Research Collection School Of Economics

International trade is governed by a complicated patchwork of international treaties, bilateral agreements, and unilateral actions, often directed at trade in very specific commodities. A determination of the impact of trade measures begins with an assessment of their direct effect on trade volumes and prices in targeted sectors. While in some cases—such as the recent U.S. anti-dumping duties on steel—the measures have readily identifiable impacts, in others cases the effects are more difficult to determine.

Diasporic Tycoons, Outlaw States And Beijing Bastards: The Contingent Politics Of Greater China, William A. Callahan

Research Collection School of Social Sciences

No abstract provided.

National Insecurities: Humiliation, Salvation And Chinese Nationalism, William A. Callahan

Research Collection School of Social Sciences

While I was researching the South China Sea disputes between China, Vietnam, and the Philippines, I came upon an unlikely refer ence. In an otherwise hard-nosed analysis of the issue, a noted Chi nese expert cited a book called the Atlas of Shame. This odd juxta position of security studies, territoriality, and emotion piqued my interest, and I asked a friend in Beijing to track down this curious book. Once I got a copy of the Atlas of the Century of National Humili ation in Modern China, the correct title, I was fascinated by what seemed to be a unique …