Suchergebnisse

The process of global economic integration is justified by the primary goal of inclusive and balanced growth for all economies, so it is relevant to identify the extent to which this goal has been achieved. This research evaluates whether the member economies of the Asia-Pacific Economic Cooperation (APEC) have experienced economic convergence during the 1960–1990 (pre-APEC) and 1990–2020 (post-APEC) periods. For this purpose, beta, sigma and gamma convergence are estimated, which are methodological approaches proposed by Barro and Sala-i-Martin (1991, Brookings Papers on Economic Activity, 1991(1), 170–182) and Marchante et al. (2006, Fundación de Estudios de Economía Aplicada Working Papers No. 2006-05), for APEC as a region and for the high- and middle-income economies that conform it. The results show that the process of economic convergence among APEC members intensified after its formation in 1989 and that the region can be categorized as an 'economic convergence club'. As well as that, the high- and middle-income groups are converging towards their respective stationary state.

Fuel subsidies are widespread and debated extensively. The issues with these subsidies are fully acknowledged by many energy economists; however, the total subsidy level remains high. This is because energy subsidies are often closely related to the political economy viewpoint. Moreover, the rationale underlying fossil fuel subsidies, particularly concerning political, economic, and social contexts, is to reduce energy poverty, ensure access to energy, and redistribute the wealth that stems from the exploitation of national resources. Although there is considerable controversy surrounding the efficiency of these policies, energy subsidies confer private benefits on particular interest groups and, once implemented, tend to persist. This paper discusses and models various aspects of the political economy of fuel subsidy reform in selected Asia-Pacific Economic Cooperation (APEC) economies. Applying a panel data set from the period 1991-2018, the paper provides an empirical analysis of the economic and political perspectives of fuel prices in APEC countries resulting from the elimination of fossil fuel subsidization policies. Our findings robustly support the current economic trend of those governments that have decided to phase out fossil fuel energy policies. Based on these findings, we conclude that a range of economic, political, and social parameters systematically influence fuel prices.

Featuring contributions from distinguished groups of international academic experts, this book is essential reading for all those interested in political and economic developments in the Asia Pacific.