Suchergebnisse

PurposeThe purpose of this paper is to examine the extent of the trade integration of Thailand with the Mekong region in comparison with its trade integration with the other major partners (advanced ASEAN, China, India, Japan, and the USA).Design/methodology/approachThe study adopts the gravity trade model as an analytical framework, for the period from the 1980s through the 2000s.FindingsIt is found that Thailand's trade integration with the Mekong region has remarkably grown from the 1980s to the 2000s, in the sense that Thailand's total trade with the Mekong region, which lies below the gravity‐model standard in the 1980s, exceeds the standard in the 1990s and the 2000s. However, it is also found that the intensity of Thailand's trade integration with the Mekong region is still behind that with advanced ASEAN even in the 2000s. It might come from the higher service‐link costs that prevent the Mekong region from being fully involved in the international production network.Originality/valueThe paper may be valuable to the policy makers and researchers in the Mekong region, since it contributes to reviewing the two‐decade progress of the regional cooperation of the Greater Mekong Subregion from such quantitative perspectives as trade integration.

This article examines the post-crisis exchange rate management in the selected East Asian countries: Indonesia, Korea, the Philippines, and Thailand. The main findings are as follows: First, the trends of the coefficient of variation in the monthly nominal exchange rates and foreign exchange reserves revealed that the exchange rate flexibility of all the sample countries had increased under the "soft peg" regime from the pre-crisis period towards the post-crisis period. Second, the result of the Frankel-Wei type of regression analysis with the Chow's test showed that the Philippines and Korea might reduce the US dollar dominance while Korea and Indonesia might raise the weights assigned to the Japanese yen and the euro respectively, in their post-crisis exchange rate management, and that all the sample countries could raise sensitivity to their domestic inflation rates in their post-crisis exchange rate management. The policy implication in the findings above lies in the significance of inflation rate as one of the factors for determining a reference rate in the exchange rate management.

AbstractThis article examines the applicability of the Dutch Disease hypothesis by using a vector auto‐regression model, focusing on the resource‐rich and middle‐income economies in the Association of Southeast Asian Nations. The empirical study found that the latecomers of Lao People's Democratic Republic and Myanmar seemed to suffer from the Dutch Disease over the sample period for 1970–2015; and the forerunners of Indonesia and Malaysia, on the other hand, appeared to have no Dutch Disease effect at least in the current period of 1997–2015, although Indonesia had experienced the Dutch Disease in the previous period of 1970–1996. The lessons from the forerunners' experiences in order for the latecomers to escape from the Dutch Disease are to establish some funding system of allocating resource revenues for investment projects; to diversify domestic industries through improving business environments; and to improve institutional quality to reinforce resource governance.

Using the analytical framework of the environmental Kuznets curve, this study examines whether developing countries in the world enjoy the latecomer's advantage or suffer the latecomer's disadvantage in the area of environmental management and technology, with a focus on representative environmental indices of sulfur emissions and carbon emissions. The study's two main findings represent clear contrasts in panel estimation results between sulfur emissions and carbon emissions First, sulfur emissions follow the expected inverted U-shape pattern of the environmental Kuznets curve, while carbon emissions show monotonous increasing trends with per capita income in the observed range. Second, sulfur emissions represent the dominance of the latecomer's advantage while carbon emissions reveal that of the latecomer's disadvantage. The contrast in the emission-income patterns appears to come from the difference in the origin of emissions: sulfur emissions mainly from production (emissions from production are easily regulated on the local level), and carbon emissions from both production and consumption (emissions from consumption are easily externalized). In addition, the contrast in the latecomer's effects seems to be related to the degree of maturity in the know-how and technology to abate emissions: prevailing desulfurization and unrestricted "carbon leakage."

ABSTRACTThis study examines, with a focus on regional environmental states in China, whether regional latecomers suffer the domestically created 'pollution haven' effect through the interjurisdictional competition for polluted industries within China, or enjoy the spillover effect of nationwide progress in environmental management and technology, using the analytical framework of the environmental Kuznets curve. The study found that the regional latecomer's advantage was verified in the case of wastewater, while its disadvantage was identified in waste gas and solid waste. We speculate that the contrasting result on regional latecomer's effects between wastewater, waste gas, and solid waste comes from the difference in policy performances: the well-designed water pollution control may have regional latecomer's enjoy the spillover effect of nationwide progress, while the ineffective control of air and solid waste pollution may cause a 'pollution haven' effect through the interjurisdictional competition for polluted industries on regional latecomers.

Chapter 1 Analysis of the "Dutch Disease" Effect and Public Financial Management in Mongolian Economy -- Chapter 2 Enhancement in Governance Capacity of the Sovereign Wealth Funds of Mongolia -- Chapter 3 Government Financial Supports for Small and Medium-sized Enterprises (SMEs) in Mongolia -- Chapter 4 Macroprudential Policy to Manage Systemic Risk Deriving from Financial Institutions in Mongolia -- Chapter 5 Inflation Targeting and the Pass-through Effect in Mongolia -- Chapter 6 Stock Market Development and Macroeconomic Policies in Mongolia -- Chapter 7 The Development Stage of Bond Market in Mongolia among Asian countries.