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Korea’s neutral interest rate: Estimates, determinants, and monetary policy stance J. Asian Econ. (IF 2.681) Pub Date : 2024-03-06 Kyu Ho Kang, Kyeongtak Do
A neutral interest rate is a key indicator of the monetary policy stance. This study estimates South Korea’s neutral interest rates and their determinants. Based on the results, we investigate the prior monetary policy patterns of the Bank of Korea (BOK) and evaluate its stance. We adopted a time-series model approach, with a Bayesian econometric strategy. We can summarize the empirical findings as
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Housing cycle and firm investment: International firm-level evidence J. Asian Econ. (IF 2.681) Pub Date : 2024-03-06 Hyunduk Suh, Jin Young Yang
The macro-finance literature provides conflicting views on how movements in housing price affect firms’ capital spending or R&D. We further explore this issue by analyzing a comprehensive international firm-level data set. We use the housing price component independent of firms’ investment opportunities and credit supply shocks. The results support the collateral channel as housing price and firm investment
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Overflowing Waters, Diluted Investments: The Enduring Impact of Historical Yellow River Floods on Enterprise Fixed Assets Investments J. Asian Econ. (IF 2.681) Pub Date : 2024-03-03 Weihua Yu, Jingjing Hu, Chenchen Deng
Unraveling the long shadow of historical natural disasters, this study explores how the Yellow River floods shape enterprise fixed asset investments in an institutional and cultural context. Leveraging the regression discontinuity approach, we uncover a significant negative impact of these floods on investments, primarily due to weakened property rights and increased reliance on religious coping mechanisms
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Determinants and impacts of rural crime victimization: Evidence from a case study in Southeast Asia J. Asian Econ. (IF 2.681) Pub Date : 2024-01-24 Ulrike Grote, Thanh-Tung Nguyen, Trung Thanh Nguyen, Frank Neubacher
We use a panel dataset of around 3500 rural households from Southeast Asia and investigate evidence on crime victimization. More concretely, we ask (1) to what extent are rural people affected by crime? (2) What factors determine rural crime victimization? And (3) what are the impacts of crime victimization on welfare of rural households? We use the routine activity approach as the theoretical framework
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Equity market responses to surprise Covid-19 lockdowns: The role of pandemic-driven uncertainty J. Asian Econ. (IF 2.681) Pub Date : 2023-12-11 Aakriti Mathur, Rajeswari Sengupta, Bhanu Pratap
The onset of the Covid-19 pandemic raised questions about identifying and measuring vulnerabilities in non-financial firms in response to large shocks. Applying natural language processing on quarterly earnings call reports, we construct a firm-specific measure of concern about the pandemic for a set of Indian non-financial firms. Compared to their peers, firms with early concern about the pandemic
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Does cross-border M&A improve merging firms’ domestic performances? J. Asian Econ. (IF 2.681) Pub Date : 2023-12-06 Sung Hyun Son, Young-Han Kim
Facing the concerns that outward foreign direct investments might hollow out domestic corporate activities, we examine whether cross-border acquisitions by emerging market enterprises (EMEs) improve or damage domestic corporate performances based on the data of 348 Indian firms’ cross-border M&A experiences from 1995 to 2017. We investigate acquirers’ post-M&A performances by nonparametric flexible
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Impact of global liquidity on Indian financial markets and monetary policy outcomes: An ARDL approach J. Asian Econ. (IF 2.681) Pub Date : 2023-11-23 Vimarsh Padha, Aditi Chaubal
Liquidity management is essential for the financial framework of any economy, especially for operationalizing monetary policy. The relatively resilient Indian financial system experiences the transmission of global liquidity shocks, which results in a reversal of portfolio flows from domestic markets resulting in central bank interventions. This paper examines the impact of global liquidity shocks
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Trade and employment in the formal and informal sectors: A natural experiment from Cambodia J. Asian Econ. (IF 2.681) Pub Date : 2023-11-18 Kiyoyasu Tanaka, Theresa M. Greaney
How does trade affect formal and informal jobs in developing economies? This paper estimates the impact of exports on employment in the formal and informal sectors by exploiting the European Union (EU)’s reform in rules of origin for duty-free market access, which produced a large positive shock to Cambodia’s garment exports to the EU. We use nationally representative datasets on formally registered
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Artificial intelligence and intergenerational occupational mobility J. Asian Econ. (IF 2.681) Pub Date : 2023-11-14 Linhui Wang, He Zhao, Zhanglu Cao, Zhiqing Dong
Artificial intelligence (AI) has a huge impact on economic development, while the literature focuses on the effect of AI on employment, and little is known about the impact of AI on intergenerational occupational mobility. Using a large, representative survey of individual-level data from the CGSS database, this paper presents novel evidence on the effect of AI on intergenerational occupational mobility
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The impact of the innovation city project on the local economy: Evidence from Korean Innovation City Project from 2012 to 2014 J. Asian Econ. (IF 2.681) Pub Date : 2023-11-13 Seongmin Seo, Do Won Kwak
This study employs a difference-in-differences approach to investigate the impact of the Korean Innovation City Project (KICP) on employment and productivity. KICP is a place-based policy that involved relocating public institutions and providing economic incentives to attract businesses. Our findings show that newly established businesses experienced positive employment effects mainly in the nontradable
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Do financial markets react to emerging economies’ asset purchase program? Evidence from the COVID-19 pandemic period J. Asian Econ. (IF 2.681) Pub Date : 2023-11-11 K.P. Prabheesh, Rakesh Padhan, Javed Ahmad Bhat
We employ the daily data on bond yield, stock return, and exchange rate to explore their reaction to the large-scale asset purchase program for 8 emerging market economies during the COVID-19 pandemic period. Using event study analysis, we find that: (1) out of 8 emerging economies, 6 economies’ financial markets react to the asset purchase announcements. (2) Most economies witnessed a rise in stock
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Research of the non-linear dynamic relationship between global economic policy uncertainty and crude oil prices J. Asian Econ. (IF 2.681) Pub Date : 2023-11-04 Mengqi Gong, Zhe You, Longle Wang, Dapeng Ruan
This paper examines the relationship between global economic policy uncertainty (GEPU, Global economic policy uncertainty refers to the fact that market actors cannot accurately predict whether the government will change the current economic policy, if so, when the government will make changes, and what the content of the current policy changes will be. These are difficult for economic actors to accurately
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Environmental protection tax on enterprise environmental, social and governance performance: A multi-perspective analysis based on financing constraints J. Asian Econ. (IF 2.681) Pub Date : 2023-11-03 Ailan Liu, Sijia Dai, Zhixuan Wang
This article fills the research gaps of existing studies on the mechanism between environmental policy and corporate performance in environmental, social, and governance (ESG). The study finds that implementing environmental protection tax can improve the ESG performance of heavily polluting firms. By examining the mediating effects of factors based on financing constraints, the study further explores
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Parental non-cognitive abilities and child mental health J. Asian Econ. (IF 2.681) Pub Date : 2023-10-18 Yao Wang, Chunchao Wang, Rui Zhang
Parents play a crucial role in the mental health and development of their children. This study investigates the impact of parental non-cognitive abilities on the mental health of their children. Our findings show that parental non-cognitive abilities, especially conscientiousness, agreeableness, and neuroticism, positively influence child mental health. This effect varies based on the child’s gender
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An anatomy of Nepal’s remarkable export decline: A note J. Asian Econ. (IF 2.681) Pub Date : 2023-09-23 Rishi R. Sharma
This paper documents and breaks down a remarkable decline in Nepal’s exports over the 2000–2019 period. This decline is due to a collapse in the country’s top export products and is largely uniform across destinations and products. Furthermore, it is not on account of the poor global performance of the sectors Nepal was specialized in but is something more specific to Nepal. Industry-level statistics
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Banks’ net interest rate spread and the transmission of monetary policy in Korea J. Asian Econ. (IF 2.681) Pub Date : 2023-09-21 Yong-Gook Jung, Jinyong Kim
In the transmission of monetary policy, banks’ administered interest rates set by their market power may not coordinate well with the policy intention. In this study, we examine the effect of banks’ net interest rate spread (NIS) on real economic growth in response to changes in the benchmark interest rate in Korea. We find that the market power component of the NIS interacting with the benchmark rate
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Whose financial grievances go unobserved? J. Asian Econ. (IF 2.681) Pub Date : 2023-09-21 Vimal Balasubramaniam, Renuka Sane, Srishti Sharma
Financial inclusion around the world is developing rapidly and reaching 76% of the world’s population. However, the gap between access to formal financial products and the long-term use of them remains. We present the results of a first representative telephone survey in India, which explores a major friction that creates this gap: Redressing consumer complaints. Consumer complaints behaviour is product-invariant
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Productivity and market participation: Cambodian rice farmers J. Asian Econ. (IF 2.681) Pub Date : 2023-07-28 Channary Khun, Sokchea Lim
Rice is the staple food in many Asian countries. The study attempts to understand the underlying issues of low rice farm productivity and whether progress made on this front will lead to greater market participation. Employing a control function to address the endogeneity issue and using the latest survey of Cambodia’s agriculture sector, the paper finds that rice farmers are more likely to commercialize
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Risk attitude and economic welfare: A panel analysis on a multiethnic population in rural Viet Nam J. Asian Econ. (IF 2.681) Pub Date : 2023-07-18
The relationship between economic welfare and general risk attitude is examined using a three-wave data set collected from 588 ethnically diverse households in Central Vietnam. Ethnic minorities account for about 30 % of the sample and include twelve different ethnic groups. Multivariate analysis is applied with single equation and equation-system estimating approaches. The results confirm that the
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Individual preferences toward inward foreign direct investment: A survey experiment J. Asian Econ. (IF 2.681) Pub Date : 2023-07-20 Ayumu Tanaka, Banri Ito, Naoto Jinji
In democratic societies, public attitudes toward foreign direct investment (FDI) can influence FDI policy as in other policy areas but have been largely ignored in FDI literature. To bridge this gap, we investigate individual preferences toward inward FDI. We employ a conjoint (vignette) survey experiment and analyze the determinants of preferences toward acquisitions by foreign firms. Conjoint survey
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COVID-19-associated income loss and job loss: Evidence from Indonesia J. Asian Econ. (IF 2.681) Pub Date : 2023-05-30 Rendra A.A. Putra, Kostiantyn Ovsiannikov, Koji Kotani
COVID-19 pandemic has substantially altered socioeconomic conditions around the world. While numerous existing studies analyze the impact of the COVID-19 pandemic among developed states, little is known about its effects on people’s lives and social discrepancies in emerging economies. To this end, we empirically analyze the 2020 Indonesian Labor Force Survey data, hypothesizing that COVID-19 has given
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Industry salary gap incentive and enterprise innovation J. Asian Econ. (IF 2.681) Pub Date : 2023-05-16 Jing Su, Jiaoliang Jiang, Bingbing Zhang, Lijuan Cao
The impact of an industry salary gap on corporate innovation is a topic that has attracted great interest. To enrich and expand research on this topic, this research aims to measure this impact from the perspective of the governance effect. The results show that a salary gap across industries significantly drives enterprise innovation at firms with higher agency costs. According to this result, reducing
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Elections and COVID-19 benefit payments J. Asian Econ. (IF 2.681) Pub Date : 2023-05-11 S. Bessho
This study examines the political factors associated with the implementation of a benefit payment policy in Japan during the COVID-19 crisis. The Japanese government announced a universal cash payment program in April 2020, but the payment date differed across localities. This study estimates the correlation between this timing and local politicians’ characteristics, finding that local governments
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Migrating for children’s better future: Intergenerational mobility of internal migrants’ children in Indonesia J. Asian Econ. (IF 2.681) Pub Date : 2023-04-11 Alfariany Milati Fatimah, Chiara Kofol
Internal migration dominates population mobility in Indonesia; according to the 2010 census, there were almost 30 million permanent migrants, around 12.5 percent of the population. The effects of this internal migration on the second generation continue to be under-explored. This paper investigates the long-term impact of parents’ migration on their children’s intergenerational per capita expenditure
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Reference-dependent preferences and probability judgments J. Asian Econ. (IF 2.681) Pub Date : 2023-03-29 Takaharu Ishii
This paper provides empirical evidence that probability judgments help explain a reference-dependent preference. It explains using the data for Tokyo Taxi drivers, which includes the respondents about psychological questions. Probability judgments based on a dual process to cognition means judgments and calculations of the probability when they determine something under uncertainty. It weakens the
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Firm-level Utilization Rates of Regional Trade Agreements: Importers’ Perspective J. Asian Econ. (IF 2.681) Pub Date : 2023-03-20 Kazunobu Hayakawa, Nuttawut Laksanapanyakul, Taiyo Yoshimi
This study provides evidence of firm-level utilization of regional trade agreements (RTAs) using transaction-level import data for Thailand. Two stylized facts are presented: some firms use RTA schemes in imports from RTA partner countries, whereas others do not; among firms that import from RTA partner countries under RTA schemes, some use RTA schemes for all transactions but others use them only
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The role of import prices in flattening the Phillips curve: Evidence from Korea J. Asian Econ. (IF 2.681) Pub Date : 2023-03-12 JaeBin Ahn, Jiwon Lee
Are global inflation synchronization and the flattening of the Phillips curve across the globe related? The globalization hypothesis has been proposed to explain the relationship but questions remain on its quantitative role. Focusing on South Korea, one of Asia-Pacific supply chain hubs, this paper investigates the extent to which import prices affect domestic price inflation over the period between
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Shadow banking activities of non-financial companies and the information content of stock prices J. Asian Econ. (IF 2.681) Pub Date : 2023-03-02 Xun Han, Yue Feng, Jianjun Li
In recent years, corporate investment rate has been declining, and they have been allocating financial capital to the shadow credit market, which lead to accumulation of financial risks. Based on the annual data of non-financial listed companies from 2007 to 2019, this paper explores the impact of non-financial companies’ shadow banking on the information content of stock prices. Results show that
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Does bank competition affect the transmission mechanism of monetary policy through bank lending channel? Evidence from India J. Asian Econ. (IF 2.681) Pub Date : 2023-03-05 Bijoy Rakshit, Samaresh Bardhan
This paper empirically investigates how intensified competition in the Indian banking affects the transmission of monetary policy through bank lending channel over the period 1997–2017. Additionally, this study examines the impact of deposit and loan market channels on bank’s credit growth. Results obtained through two-step system-GMM reveal that a higher degree of market power weakens the monetary
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Lights out? COVID-19 containment policies and economic activity J. Asian Econ. (IF 2.681) Pub Date : 2023-02-15 Robert C.M. Beyer, Tarun Jain, Sonalika Sinha
This paper estimates how strongly COVID-19 containment policies have impacted aggregate economic activity. We use a difference-in-differences methodology to estimate how containment zones of different severity across India impacted district-level nighttime light intensity, as well as household income and consumption. From May to July 2020, nighttime light intensity was 9.1 % lower in districts with
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Revisiting the Phillips curve for Indonesia: What can we learn from regional data? J. Asian Econ. (IF 2.681) Pub Date : 2023-02-10 Harry Aginta
This study seeks new empirical evidence of the Phillips curve in Indonesia, an emerging and geographically diversified economy. There are three important contributions from this research. First, applying panel econometric method to exploit regional variation, the study resolves the issue of using on-target national inflation rates that potentially causes weakening inflation-output link. Second, the
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Do NBFCs propagate real shocks? J. Asian Econ. (IF 2.681) Pub Date : 2023-02-09 Saurabh Ghosh, Debojyoti Mazumder
Notwithstanding a smaller share of total loans vis-à-vis commercial banks, we investigate a possible role of Non-banking financial companies (NBFCs) in propagating a real shock to the rest of the economy. Our two-sector model captures emerging economy characteristics such as NBFC borrowings from commercial banks, heterogeneities in financial constraints, and labour market friction faced by firms. Our
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The Arab Spring, a setback for gender equality? Evidence from the Gallup World Poll J. Asian Econ. (IF 2.681) Pub Date : 2022-12-31 Robert Rudolf, Shun Wang, Fengyu Wu
Combining a unique dataset from the Gallup World Poll for the period 2009–2018 with Wolfsfeld et al.’s (2013) protest index, we evaluate the impact of the Arab Spring pro-democracy protests on gender equality in eleven Middle Eastern and North African countries. We use a difference-in-differences approach and find a negative impact of mass protests on female access to labor markets and support for
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COVID-19 policy actions and inflation targeting in South Asia J. Asian Econ. (IF 2.681) Pub Date : 2022-12-17 Syed Aun R. Rizvi, Kasun Pathirage
In this paper, we examine the impact of policy actions undertaken by governments during the COVID-19 pandemic on Consumer Price Index (CPI) in five major South Asian nations, namely, Bangladesh, India, Nepal, Pakistan and Sri Lanka. Using panel fixed effects regression with robust standard errors, we show the relative importance of monetary and financial interventions on reducing CPI while fiscal interventions
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Testing policy effectiveness during COVID-19: An NK-DSGE analysis J. Asian Econ. (IF 2.681) Pub Date : 2022-12-19 Sayar Ahmad Shah, Bhavesh Garg
We examine the effectiveness of fiscal and monetary policy in mitigating the impact of COVID-19 in India using the NK-DSGE framework. In terms of policy effectiveness, our findings imply that expansionary monetary policy is effective in reviving economic growth both from the demand side and supply side. In contrast, expansionary fiscal policy is effective only from the supply side. Our findings recommend
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Modeling an early warning system for household debt risk in Korea: A simple deep learning approach J. Asian Econ. (IF 2.681) Pub Date : 2022-12-20 Yujin Kwon, Sung Y. Park
We construct an early warning indicator for household debt risk by analyzing the relationship between household debt and certain important macroeconomic determinants using a simple deep learning approach. A precise and informative indicator can help inform economic policies, especially in light of the recent growth in the ratio of household debt to income. Although several studies have analyzed the
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Macroeconomic effects of uncertainty shocks: Evidence from Korea J. Asian Econ. (IF 2.681) Pub Date : 2022-11-21 Dooyeon Cho, Husang Kim
This paper proposes a new measure of economic policy uncertainty (EPU) for Korea by fine-tuning the keywords and exploiting information drawn from a wide variety of local newspapers. The uniqueness of our new EPU index lies mainly in the fact that it uses a set of keywords that correspond much more closely to actual language use and better reflect the economic environment of Korea, which is classified
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Does productive microcredit improve rural children's education? Evidence from rural Vietnam J. Asian Econ. (IF 2.681) Pub Date : 2022-11-17 Chung Thanh Phan, Sizhong Sun, Zhang-Yue Zhou, Rabiul Beg, Richard Ramsawak
Whether increasing access to microcredit results in better educational outcomes for children’s education in rural areas remains an important but inconclusive topic in development literature. This paper contributes to this strand of research both theoretically and empirically. We develop a theoretical model where a representative household uses microcredit to fund its family business and maximises its
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Corporate entertainment expenses and corruption in public procurement J. Asian Econ. (IF 2.681) Pub Date : 2022-11-12 Sungwon Kang, Daehwan Kim, Geonhyeong Kim
Viewing corporate entertainment of public officials as a form of bribes, Korea recently adopted a strong regulation against such practice (the Antigraft Act of 2016). In this paper, we investigate whether the regulation succeeded in reducing corruption in public procurement. An examination of the procurement system in Korea suggests that bribe-paying firms submit lower bids to procurement auctions
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Impacts of the COVID-19 crisis on single-person households in South Korea J. Asian Econ. (IF 2.681) Pub Date : 2022-11-11 Haeil Jung, Jun Hyung Kim, Gihyeon Hong
Using nationally representative income and expenditure data from South Korea, we show that single-person households suffered a much greater decrease in household income and expenditure compared to multi-persons households during the COVID-19 pandemic in 2020. Negative effects on income were largest for the single-person households in ages 50—64, mostly driven by decreases in earned income rather than
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Changes in women’s empowerment in the household, women’s diet diversity, and their relationship against the background of COVID-19 in southern Bangladesh J. Asian Econ. (IF 2.681) Pub Date : 2022-11-11 Els Lecoutere, Marrit van den Berg, Alan de Brauw
The COVID-19 pandemic in Bangladesh, associated public health measures, and people’s reactions were projected to have caused job losses among women, a decline in women’s empowerment and reduced women’s diet diversity. Using a November 2020 telephone survey to re-interview adult female respondents of a November 2019 in-person survey, contrary to expectations we find that more women found than lost jobs
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Introduction to special issue on “Uncertainty and Risk Management for Asian Economies” J. Asian Econ. (IF 2.681) Pub Date : 2022-10-31 Ted Tsun-Feng Chiang, Jack W. Hou, Pui Sun Tam
Abstract not available
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Do house prices play a role in unconventional monetary policy transmission in Japan? J. Asian Econ. (IF 2.681) Pub Date : 2022-09-15 Nuobu Renzhi
This study comprehensively analyzes the role of house prices in the transmission mechanism of unconventional monetary policy (UMP) in Japan using structural vector autoregression models. The empirical results show that house prices are significantly affected by UMP shocks, and fluctuations in house prices considerably affect macroeconomic variables. With a set of robustness checks and extensions, the
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Impacts of an international bridge on households: Evidence from Thailand J. Asian Econ. (IF 2.681) Pub Date : 2022-09-06 Kazunobu Hayakawa, Souknilanh Keola, Sasatra Sudsawasd, Kenta Yamanouchi
This paper empirically investigates the impacts of an international bridge between Thailand and Laos on households in Thailand. Based on the significance of agricultural sectors near the bridge, we investigate how its effect on household income differs between agricultural households and other types of households. We found that the bridge increased the income of agricultural households with agricultural
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Determinants of international students’ decision to remain in Japan to work after graduation J. Asian Econ. (IF 2.681) Pub Date : 2022-08-08 Nguyet Thi Khanh Cao
Using microdata from a survey conducted by the Japan Student Services Organization, I applied binary outcome models to investigate the determinants of international students' decision to remain in Japan to work after graduation. The empirical results showed that the most significant determinants of the students' decision to permanently work in Japan were the initial motivation of the students before
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Understanding the role of trade agreements in Indonesia’s FDI J. Asian Econ. (IF 2.681) Pub Date : 2022-08-08 Paresh Kumar Narayan, Badri Narayan Rath, Ferry Syarifuddin
In this paper, we develop the hypothesis that trade agreements influence foreign direct investment (FDI). We extend the conventional model of FDI determinants to accommodate the role of trade agreements. Fitting Indonesian data to this model, we discover strong evidence that, while both bilateral and multilateral trade agreements positively influence Indonesia’s FDI, multilateral agreements have a
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The impacts of the COVID-19 pandemic on micro, small, and medium enterprises in Asia and their digitalization responses J. Asian Econ. (IF 2.681) Pub Date : 2022-08-08 Asami Takeda, Hoa T. Truong, Tetsushi Sonobe
Soon after the outbreak of the COVID-19 pandemic, many governments began extending financial and other forms of support to micro, small, and medium enterprises (MSMEs) and their workers because smaller firms are more vulnerable to negative shocks to their supply chain, labor supply, and final demand for goods and services than larger firms. Since MSMEs are diverse, however, the severity of the pandemic’s
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Increasing yield and farm income of upland farmers: The case of Panay Island Upland Sustainable Rural Development Project in the Philippines J. Asian Econ. (IF 2.681) Pub Date : 2022-07-23 Clark N. Melendres, Ji Yong Lee, Bongkyun Kim, Rodolfo M. Nayga
The 17th Sustainable Development Goal aims to enhance the international cooperation between developed and least-developed countries, and the Official Development Assistance (ODA) program is the largest source of external support in the attainment of this goal. The purpose of this study is to evaluate the effects of the Panay Island Upland Sustainable Rural Development Project (PIU-SRDP), an ODA project
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Testing for the uncovered interest parity condition in a small open economy: A state space modelling approach J. Asian Econ. (IF 2.681) Pub Date : 2022-07-23 Guna Raj Bhatta, Rabindra Nepal, Charles Harvie, Kankesu Jayanthakumaran
Do interest rate differentials smoothly mirror the changes in the exchange rate between a small open economy and a large emerging market economy? The literature provides conflicting views on the validity of the uncovered interest parity condition (UIP), including its size and factors influencing the risk premium. We examine the validity of the UIP condition between Nepal and India using time-series
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Impact of institutional determinants on income inequalities in Indonesia during the Era Reformasi J. Asian Econ. (IF 2.681) Pub Date : 2022-07-22 Małgorzata Szczepaniak, Andrzej Geise, Nurul Bariyah
This article examines the links between a selected group of institutional factors and income inequalities. The Indonesian transformation process, referred to as the Era Reformasi, which started in 1999, was a substantial institutional change in the social, political, and economic sphere that could have impacted income inequalities. We conducted an analysis based on Engle and Granger’s (1987) cointegration
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How can quality regional spending reduce poverty and improve human development index? J. Asian Econ. (IF 2.681) Pub Date : 2022-07-09 Uki Masduki, Wiwiek Rindayati, Sri Mulatsih
There is only a small amount of literature that discusses government spending and development performance, especially poverty and the human development index (HDI). Most of them discuss through income. Although some discuss government spending, few discuss their quality. This paper attempts to examine and discuss the quality of government spending and then to link its effects to poverty and HDI rates
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The gender wage gap in Myanmar: Adding insult to injury? J. Asian Econ. (IF 2.681) Pub Date : 2022-06-30 Henrik Hansen, John Rand, Ngu Wah Win
Using two surveys from 2017, we analyze the gender wage gap for urban workers in Myanmar. We start from a standard wage equation and condition on education, experience, health and a small set of household demographic attributes. Subsequently we control for differences in occupational choice and sector of employment. We estimate the models with sample selection correction and this leads to estimated
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Impact of uncertainty and exchange rate shocks: Theory and global empirics J. Asian Econ. (IF 2.681) Pub Date : 2022-06-29 Jing Lian Suah
This paper offers two points on the impact of uncertainty and exchange rate shocks. (1) A conceptual model where behavioural frictions – rational inattentiveness and bounded expectations – interact with uncertainty, generating aggregate fluctuations. Central banks can target these behavioural frictions to stabilise output and prices. (2) Empirical findings from a panel of advanced and emerging economies
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The impact of highways on commodity prices: The price of butter in Japan J. Asian Econ. (IF 2.681) Pub Date : 2022-06-18 Kazunobu Hayakawa, Kenmei Tsubota
This study empirically investigates the effect of highway construction on retail prices of butter in Japan. We consider the relocation of butter producers owing to the development of highways. We observed that highway construction increased transportation speed; however, the average transportation time from the production site dramatically increased with the increase in transportation distance. This
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Will monetary policy affect energy security? Evidence from Asian countries J. Asian Econ. (IF 2.681) Pub Date : 2022-06-18 Ke Wang, Yi-Wei Wang, Quan-Jing Wang
This paper uses the System Generalized Moments (SYS-GMM) method to empirically analyze the data of 16 Asian countries from 2000 to 2019, and finds the impact of monetary policy on energy security. We conclude that the real interest rate, total reserve and exchange rate all have a positive impact on energy security, that is, when these three indicators decline, the risk of energy security increases
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Understanding BOXPI — Industry portfolio perspectives J. Asian Econ. (IF 2.681) Pub Date : 2022-06-10 Myeong Hyeon Kim, Young Min Kim, Kisung Yang
“BOXPI” is an acronym for the boxed Korea Composite Stock Price Index (KOSPI). Uniquely, KOSPI has remained within an extremely narrow range during 2012–2016 despite the global liquidity expansion. This study develops a continuous-time model to describe sector rotation and interprets the BOXPI phenomenon from industry portfolio perspectives. We find that the upper bound of the BOXPI can be interpreted
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Fostering non-cognitive skills and academic performance: Experimental evidence from women’s-only colleges in Pakistan J. Asian Econ. (IF 2.681) Pub Date : 2022-06-06 Maryiam Haroon, Farah Said, Mahniya Zafar
We conduct a randomized control trial to investigate the effect of a soft-skills intervention that highlights the role of beliefs about perseverance on non-cognitive skills, effort, and academic performance of college students. We have a sample of 366 undergraduate students from women-only and public colleges in a major metropolitan city in Pakistan. We find that a brief discussion stressing perseverance