Bribery and firm survival in Vietnam: Moderating effects of market competition,credit, and institutional constraints

This paper examines the relationship between bribery and firm survival when facing different levels of market competition, credit constraints, and other institutional limitations. Using panel data from surveys of small- and medium-sized enterprises in Vietnam over a 10-year period and a semi-parametric Cox proportional hazards model approach, we provide empirical support for the “greasing-the-wheels” hypothesis of firm survival. Effects are found to be more pronounced for formally registered and larger firms, explained by their greater bargaining power vis-à-vis public officials. Moreover, bribery as a “risk-of-exit” reducing strategy is found only for firms not institutionally or financially constrained and for firms operating in sectors with low levels of competition.     

Energy Consumption and Bitcoin Market

Asia-Pacific Financial Markets - This paper is the first empirical paper to study the relationship between Bitcoin energy consumption and its market. Using the variance decompositions in...     

Air Pollution and Housing Values in Korea: A Hedonic Analysis with Long-range Transboundary Pollution as an Instrument

Environmental and Resource Economics - We estimate the degree and scope of PM2.5-induced negative price shock in Korea’s local housing markets, taking a two-stage hedonic approach. For the...     

URBAN REGENERATION IN SEOUL: Alternative Urbanism or the Resilience of Neoliberal Urbanism?

Park Won-soon, the former mayor of Seoul, put forward a new vision of Seoul as a progressive city, and one of his signatures was the promotion of a new urban regeneration policy called the Seoul-type Urban Regeneration Model (SUR). It was first presented as a solution to compressed and profit-oriented urban redevelopment but evolved into an alternative model which conveyed the worlding desire of the Seoul Metropolitan Government to redefine Asian urbanism beyond developmentalism or neoliberalism. In this article, we argue that the SUR demonstrates a mixture of post-developmentalist features and the lingering impact of neoliberal rationalities. Specifically, we problematize SUR's hybrid aspirations for urban competitiveness, improved quality of life and participatory governance by articulating how the pursuit of a globally competitive city conflicts with and overrides other values and how citizen-centered governance was exploited as an efficient mechanism of neoliberal urbanism.