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Articles 541 - 570 of 691

Full-Text Articles in Asian Studies

How Does Vietnam's Accession To The World Trade Organization Change The Spatial Incidence Of Poverty?, Tomoki Fujii, David Roland-Holst Apr 2008

How Does Vietnam's Accession To The World Trade Organization Change The Spatial Incidence Of Poverty?, Tomoki Fujii, David Roland-Holst

Research Collection School Of Economics

Trade liberalization is good for growth, and growth is good for the poor. This argument is simple but powerful. It has served as the departure point for discussion of the link between trade and poverty among economists and policy-makers, regardless of whether and to what extent they buy this argument. Krueger (1998) considers the inefficiencies that import substitution strategy creates and argues that trade liberalization undertaken at a period of low or negative growth rates can normally lead to a period of higher growth rates. Bhagwati and Srinivasan (2002) emphasize the empirical evidence of China and India. That is, these …

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Complex Emergencies And The Challenge Of Achieving Development In Afghanistan, Mahitab Mohamed Marzouk Jan 2008

Complex Emergencies And The Challenge Of Achieving Development In Afghanistan, Mahitab Mohamed Marzouk

Archived Theses and Dissertations

No abstract provided.

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Japan And The World: Japan’S Contemporary Geopolitical Challenges – A Volume In Honor Of The Memory And Intellectual Legacy Of Asakawa Kan’Ichi, Frances Rosenbluth, Masaru Kohno Jan 2008

Japan And The World: Japan’S Contemporary Geopolitical Challenges – A Volume In Honor Of The Memory And Intellectual Legacy Of Asakawa Kan’Ichi, Frances Rosenbluth, Masaru Kohno

CEAS Occasional Publication Series

Yale CEAS Occasional Publication Series - Volume 2

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The Political Economy Of South Korea: Economic Growth, Democratization, And Financial Crisis, Uk Heo, Houngcheul Jeon, Hayam Kim, Okjin Kim Jan 2008

The Political Economy Of South Korea: Economic Growth, Democratization, And Financial Crisis, Uk Heo, Houngcheul Jeon, Hayam Kim, Okjin Kim

Maryland Series in Contemporary Asian Studies

No abstract provided.

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The Development Drive Of North-South Versus South-South Ptas, Jose Luis Ramirez Jan 2008

The Development Drive Of North-South Versus South-South Ptas, Jose Luis Ramirez

Electronic Theses and Dissertations

The importance of PTAs in today's global economic order is unmistakable, especially during the last fifteen years when their proliferation has dramatically accelerated and their scope and structure have radically changed. However, the available theoretical framework (international trade theories) from which their developmental impact is assessed seems to be largely lagging behind. Hence, there is a crucial need for more realistic assessments of their embedded developmental features because an increasing number of developing countries are perceiving these agreements as one of the key instruments to propel their long delayed economic development. In this thesis, I strive to construct an alternative …

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Rolling Adf Tests: Detecting Rational Bubbles In Greater China Stock Markets, Peng Huang Jan 2008

Rolling Adf Tests: Detecting Rational Bubbles In Greater China Stock Markets, Peng Huang

Dissertations and Theses Collection (Open Access)

Following Phillips, Wu and Yu (2007), this paper extends their bubble detecting work to several Greater China stock markets. Two alternative bubble detecting methods, the forward recursive ADF tests raised by Phillips et al. (2007) and the modified version, forward rolling ADF tests, are implemented and compared. Monte Carlo simulations are performed to determine the critical values of the ADF statistic under different sample size. Empirical results demonstrate that only rolling ADF tests are successful in detecting rational bubbles by overcoming the problem of periodically collapsing bubble. As we have expected, bubbles in China Mainland stock market are detected. Out …

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Hong Kong's Money: The History, Logic And Operation Of The Currency Peg, Hwee Kwan Chow Jan 2008

Hong Kong's Money: The History, Logic And Operation Of The Currency Peg, Hwee Kwan Chow

Research Collection School Of Economics

No abstract provided.

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Singapore's Exchange Rate Policy: Some Implementation Issues, Hwee Kwan Chow Dec 2007

Singapore's Exchange Rate Policy: Some Implementation Issues, Hwee Kwan Chow

Research Collection School Of Economics

Reflecting the small open nature of its economy, Singapore has adopted an exchange rate-centered monetary policy framework since 1981. The exchange rate regime in Singapore is an intermediate regime that follows the basket-band-crawl system. With this managed float system, the MAS has successfully deterred speculators from attacking the domestic currency for most of the past three decades. At the same time, the flexibility accorded by the managed float system aided Singapore in escaping from the 1997–1998 Asian crisis relatively unscathed. In order to advance our understanding of the hitherto successful operation of Singapore's exchange rate policy, we examine the following …

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Geographic Decomposition Of Inequality In Health And Wealth: Evidence From Cambodia, Tomoki Fujii Dec 2007

Geographic Decomposition Of Inequality In Health And Wealth: Evidence From Cambodia, Tomoki Fujii

Research Collection School Of Economics

The small-area estimation developed by Elbers, Lanjouw and Lanjouw (2002, 2003), in which a census and a survey are combined to produce the estimates of welfare measures for small geographic areas, has become a standard tool for poverty analysis in developing countries. The small-area estimates are typically plotted on a map, which are commonly called a poverty map. Poverty maps proved useful for policy analysis and formulation, and have become increasingly popular among policy-makers and researchers. In Cambodia, poverty maps have been used by various international organizations, ministries and non-governmental organizations for analyzing the poverty situations for their operation areas, …

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Review Of "Rethinking Asia’S Economic Miracle: The Political Economy Of War, Prosperity And Crisis", Su-Mei Ooi Oct 2007

Review Of "Rethinking Asia’S Economic Miracle: The Political Economy Of War, Prosperity And Crisis", Su-Mei Ooi

Scholarship and Professional Work - LAS

The article reviews the book Rethinking Asia’s Economic Miracle: The Political Economy of War, Prosperity and Crisis by Richard Stubbs.

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Wage Inequality, Intergenerational Mobility, And Education In Singapore, Kong Weng Ho Oct 2007

Wage Inequality, Intergenerational Mobility, And Education In Singapore, Kong Weng Ho

Research Collection School Of Economics

Accompanying Singapore’s phenomenal economic growth over the past four decades has been a rapid increase in educational attainment over the years. In 1960, the mean years of schooling for residents aged 25 and over was 3.14 years; in 2006, it was 9.3 years. This dramatic increase in the supply of skilled labour in all sectors of the economy helped to power Singapore’s high growth rates over the past few decades of economic development, which also saw declining wage inequality and high upward intergenerational mobility in education. However, we need to ask if these trends will continue in the future and …

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Modeling Country Risks: An Asian Perspective, Swee Liang Tan, G. K. Randolph Tan Sep 2007

Modeling Country Risks: An Asian Perspective, Swee Liang Tan, G. K. Randolph Tan

Research Collection School Of Economics

This paper investigates the use of the Markov Regime Switching Model (MRSM) as a means to track changes in the levels of investor confidence. It also assesses the probabilities of a country switching between different regimes using the transition probability matrix. A maximum of three possible levels or regimes of risk – low, intermediate and high volatility regimes, is considered. From the smoothed probabilities calculated for different regimes, this paper makes inferences about timings of debt crisis. Comparing Brazil, Mexico, the Philippines and Indonesia in particular, we date the onset and subsequent dissolution of crisis-induced panic. We give interpretations of …

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Forecasting The Car Penetration Rate (Cpr) In China: A Nonparametric Approach, Sainan Jin, Liangjun Su Sep 2007

Forecasting The Car Penetration Rate (Cpr) In China: A Nonparametric Approach, Sainan Jin, Liangjun Su

Research Collection School Of Economics

With strong economic growth, the auto industry has made great breakthroughs in recent years and has become a backbone industry in China, while cars play an increasingly important role, and are now the principal part of the auto industry. Both China's government and academic circles take strong interest in the prediction of CPR (i.e. car penetration rate or cars per thousand people), which will be the main guidance for the future industry policy. We summarize the existing problems in recent research and propose to use nonparametric methods to estimate the CPR and its elasticity with respect to GDP per capita …

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How Much Should Foreign Talent Be Paid?, Manoj Thulasidas Jul 2007

How Much Should Foreign Talent Be Paid?, Manoj Thulasidas

Research Collection School Of Computing and Information Systems

Singapore needs foreign talent — and there’s no need to feel bad about it. It is a statistical fact of life. For every top Singaporean in any field — be it science, medicine, finance, sports or whatever — we will find about 500 professionals of equal calibre in China and India. Not because we are 500 times less talented, just that they have 500 times more people.

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Characterizing Exchange Rate Policy In East Asia: A Reconsideration, Hwee Kwan Chow, Yoonbai Kim, Wei Sun Jun 2007

Characterizing Exchange Rate Policy In East Asia: A Reconsideration, Hwee Kwan Chow, Yoonbai Kim, Wei Sun

Research Collection School Of Economics

Frankel and Wei (1994) developed and popularized a method for uncovering the implicit weights assigned to major international currencies constituting a currency basket. We extend the methodology in two dimensions: include regional competitive pressure and employ a vector autoregressive (VAR) model to overcome simultaneity bias. With these modifications, we confirm the prominent role of the US dollar in the exchange rate policy of East Asian economies beyond the short run. However, despite the high degree of commitment to nominal exchange rate stability prior to the crisis, fluctuations in most East Asian currencies are also significantly influenced by country specific shocks. …

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Financial Liberalization And Monetary Policy Cooperation In East Asia, Hwee Kwan Chow, Peter N. Kriz, Roberto S. Mariano, Augustine H. H. Tan May 2007

Financial Liberalization And Monetary Policy Cooperation In East Asia, Hwee Kwan Chow, Peter N. Kriz, Roberto S. Mariano, Augustine H. H. Tan

Research Collection School Of Economics

As the countries in East Asia embark on financial liberalization, a key issue that confronts policymakers is the greater complexity of risks that is injected into the financial system. In particular, capital account liberalization may potentially increase the vulnerability of individual countries to external financial shocks. This paper advocates the optimally cascading of financial liberalization that is consistent across three dimensions: extent of domestic financial liberalization; the degree of exchange rate flexibility; and the scope of capital account liberalization. Unless the process of liberalization is properly managed, it could provoke destabilizing capital flows and lead to volatile exchange rates. Smooth …

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Global And Regional Sources Of Risk In Equity Markets: Evidence From Factor Models With Time-Varying Conditional Skewness, Aamir R. Hashmi, Anthony S. Tay Apr 2007

Global And Regional Sources Of Risk In Equity Markets: Evidence From Factor Models With Time-Varying Conditional Skewness, Aamir R. Hashmi, Anthony S. Tay

Research Collection School Of Economics

We examine the influence of global and regional factors on the conditional distribution of stock returns from six Asian markets, using factor models in which unexpected returns comprise global, regional and local shocks. The models allow for conditional heteroskedasticity and time-varying conditional skewness, and are used to measure mean, variance, and skewness spillovers. We find that incorporating time-varying conditional skewness improves the fit of our spillover models, and can alter measurements of variance spillovers. However, time-varying conditional skewness is mostly a local phenomenon; with exceptions, there is little spillover in skewness from global and regional factors.

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Asian Currency Baskets: A Useful Surveillance Tool?, Charles Adams, Hwee Kwan Chow Mar 2007

Asian Currency Baskets: A Useful Surveillance Tool?, Charles Adams, Hwee Kwan Chow

Research Collection School Of Economics

This paper considers whether an intra-regional currency basket and the associated divergence indicators could play a useful role in official exchange rate surveillance. Recently, proponents of an Asian currency basket have referred to the role the European Currency Unit played in constructing exchange rate divergence indicators as evidence of the usefulness of intra-regional currency baskets for exchange rate monitoring. The paper shows that such indicators have a number of features that can lead to them obscuring underlying changes in exchange rates and that the signals they emit will often be difficult to interpret. In addition, the use of regional currency …

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Business Output And Business Experience: Evidence From China's Nongovernmental Businesses, Liangjun Su Feb 2007

Business Output And Business Experience: Evidence From China's Nongovernmental Businesses, Liangjun Su

Research Collection School Of Economics

We study the application of the Solow growth model in China's non-governmental businesses and propose a reasonable modification for it. Our analysis indicates that business experience is closely tied to the output of China's non-governmental businesses. Our major findings include: (1) the business experience has little overall impact on the elasticity of output with respect to labour; (2) the business experience has a large impact on the elasticity of output with respect to capital and the elasticity increases as the business experience increases; (3) the adjusted Solow residual that reflects technological progress exhibits a negative relationship with the business experience, …

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Moving Window Unit Root Test: Locating Real Estate Price Bubbles In Seoul Apartment Market, Shuping Shi Jan 2007

Moving Window Unit Root Test: Locating Real Estate Price Bubbles In Seoul Apartment Market, Shuping Shi

Dissertations and Theses Collection (Open Access)

Bubbles are characterized by rapid expansion followed by a contraction. Evans (1991) shows that stationarity tests suggested by Hamilton and Whiteman (1985) and Diba and Grossman (1988) are incapable of detecting periodically collapsing bubbles. Phillips, Wu, and Yu (2006) advanced the forward recursive unit root test which improves the power significantly in the presence of periodically collapsing bubbles. In this paper, we consider rolling window unit root test with a pre-selected optimum window. A combining use of conventional unit root test and forward recursive unit root test is suggested from the results of power comparison. Furthermore, we apply those three …

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Open Vs Sealed Bid Auctions: Testing For Revenue Equivalence Under Singapore's Vehicle Quota System, Roberto S. Mariano, Winston T. H. Koh, Yiu Kuen Tse Jan 2007

Open Vs Sealed Bid Auctions: Testing For Revenue Equivalence Under Singapore's Vehicle Quota System, Roberto S. Mariano, Winston T. H. Koh, Yiu Kuen Tse

Research Collection School Of Economics

Using data from the auction of vehicle quota licenses in Singapore, we study if revenue equivalence holds when the auction format was switched from a sealed-bid format (May 1990 to June 2001) to an open bidding format since July 2001. Our econometric analysis indicates the change in auction format led to a change in bidding behavior. On average, the quota license premium under the open bidding format is about US$1000 (about 7.5% of the Category E license price in June 2001) lower, compared to the forecast level that would have prevailed if there had been no change in the auction …

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The Singapore Model Of Housing And The Welfare State, Sock Yong Phang Jan 2007

The Singapore Model Of Housing And The Welfare State, Sock Yong Phang

Research Collection School Of Economics

While Singapore is not generally regarded as a welfare state, the provision of housing welfare on a large scale has been a defining feature of its welfare system. The extensive housing system has played a useful role in raising savings and homeownership rates as well as contributing to sustained economic growth in general and development of the housing sector in particular. Few would dispute the description of Singapore’s housing policies as 'phenomenally successful' (Ramesh, 2003). Singapore’s economic growth record in the past four decades has brought it from third world to first world status (Lee, 2000), with homeownership widespread at …

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To Use Or Not To Use?: Poverty Mapping In Cambodia, Tomoki Fujii Jan 2007

To Use Or Not To Use?: Poverty Mapping In Cambodia, Tomoki Fujii

Research Collection School Of Economics

No abstract provided.

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A Monetary Union In East Asia: What Does The Common Cycles Approach Tell?, K Sato, David E. Allen, Zhaoyong Zhang Jan 2007

A Monetary Union In East Asia: What Does The Common Cycles Approach Tell?, K Sato, David E. Allen, Zhaoyong Zhang

Research outputs pre 2011

There is controversy about whether a monetary union is feasible in the East Asian region. Amongst the criteria for establishing a monetary union, most of the existing studies focus on the symmetric issue of fundamental shocks and the extent of correlations by applying the Blanchard and Quah (1989) structural vector autoregression (VAR) technique, which includes the firstdifferenced variables in the model and examines only bilateral relationships. When forming a monetary union, the member countries need to renounce their monetary policy autonomy. If shocks to respective economies are symmetric, the cost of relinquishing the discretionary monetary policy is likely to be …

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Choice Of Currency By East Asia Bond Issuers, David Fernandez, Simon Klassen Nov 2006

Choice Of Currency By East Asia Bond Issuers, David Fernandez, Simon Klassen

Research Collection Lee Kong Chian School Of Business

In discussing bond markets in Asia, academics and policymakers typically begin by noting that the Asian crisis of 1997-98 in part resulted from the underdevelopment of the region’s domestic bond markets and the resultant currency and duration mismatches. When assessing the progress made in developing these markets in the post-crisis years, academics and policymakers usually observe that, while several domestic currency government bond markets have moved ahead, corporate bond markets have lagged (Asian Development Bank (2002), Reserve Bank of Australia (2003)). The policy conclusion is therefore often drawn: to prevent another Asian crisis, Asian bond markets must be further developed.

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Characterizing Exchange Rate Policy In East Asia: A Reconsideration, Hwee Kwan Chow Aug 2006

Characterizing Exchange Rate Policy In East Asia: A Reconsideration, Hwee Kwan Chow

Research Collection School Of Economics

Frankel and Wei [Frankel, J. A., & Wei, S.-J. (1994). Yen bloc or dollar bloc: Exchange rate policies of the East Asian economies. In I. Takatoshi & A. Krueger (Eds.), Macroeconomic linkages. Chicago: University of Chicago Press] developed and popularized a method for uncovering the implicit weights assigned to major international currencies constituting a currency basket. We extend the methodology in two dimensions: include regional competitive pressure and employ a vector autoregressive (VAR) model to overcome simultaneity bias. With these modifications, we confirm the prominent role of the US dollar in the exchange rate policy of East Asian economies beyond …

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The Political Economy Of Poverty Reduction: A Comparative Study Of Two Chinese Provinces, John A. Donaldson Aug 2006

The Political Economy Of Poverty Reduction: A Comparative Study Of Two Chinese Provinces, John A. Donaldson

Research Collection School of Social Sciences

Is growth good for the poor? In theory, yes. As one influential report on China’s “War on Poverty” suggested, ”Obviously robust economic growth helps reduce poverty, as long as the gains are reasonably distributed” (Rozelle et al. 2000). In practice as well, growth is often a crucial ingredient in the poverty reduction recipe. While this relationship is well founded, important exceptions present themselves – some areas grow, but poverty persists; the economies of other areas remain apparently stagnant, yet poverty diminishes. These exceptions, if studied, will not only illuminate further the causal relationship between these two concepts, but also provide …

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Exchange-Rate Systems And Interest-Rate Behaviour: The Experience Of Hong Kong And Singapore, Yiu Kuen Tse, Paul S. L. Yip Jul 2006

Exchange-Rate Systems And Interest-Rate Behaviour: The Experience Of Hong Kong And Singapore, Yiu Kuen Tse, Paul S. L. Yip

Research Collection School Of Economics

The Currency Board System in Hong Kong and the monitoring band system in Singapore are important benchmarks for two different exchange-rate systems. In this paper we consider the implications of the two exchange-rate systems on the interest-rate behaviour of the two economies. We examine the domestic–US interest differentials under the two exchange-rate regimes during the Asian Financial Crisis as well as the pre-and post-crisis periods. Using a bivariate generalized autoregressive conditional heteroscedasticity model, we also investigate whether there is any change in the correlation between the domestic and US interest rates due to the Asian Financial Crisis.

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Growth Accounting For A Follower-Economy In A World Of Ideas: The Example Of Singapore, Kong Weng Ho, Hian Teck Hoon Jun 2006

Growth Accounting For A Follower-Economy In A World Of Ideas: The Example Of Singapore, Kong Weng Ho, Hian Teck Hoon

Research Collection School Of Economics

In this paper, we take another approach to accounting for the sources of Singapore’s economic growth by being explicit about the channels through which Singapore, as a technological follower, benefits from international R&D spillovers. Taking into account the channels through which technology developed in the G5 countries diffuses to technological followers, we show that 57.5 percent of Singapore’s real GDP per worker growth rate over the 1970-2002 period is due to multifactor productivity growth. In particular, about 52 percent of the growth is accounted for by an increase in the effectiveness of accessing ideas developed by the technology leaders through …

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Economics Of Semiconductor Industry In Taiwan And South Korea, Tamer Mohamed Safwat El-Zayat Apr 2006

Economics Of Semiconductor Industry In Taiwan And South Korea, Tamer Mohamed Safwat El-Zayat

Archived Theses and Dissertations

No abstract provided.

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