The Politics of Japan–China Trade and the Role of the World Trade System

The large and rapidly growing trade relationship between Japan and China has occurred against a backdrop of political tensions. This study measures performance of the trade relationship, benchmarking it against other trade flows worldwide, and examines the impact of the politics on bilateral trade performance. To do this, a frontier gravity model is estimated using core determinants of trade. This gives a benchmark against which to measure trade performance, explained using resistances to trade. While the economic relationship is not independent from the politics, an important conclusion is that trade has not been diminished or disturbed by politics to a significant extent. China’s commitment to the global trading system from the mid‐1980s and its accession to the WTO in 2001 has meant that tensions in the political relationship with Japan from time to time have not derailed, but rather have increasingly come to be dominated, by the economic relationship.     

International and Regional Cooperation: Asia's Role and Responsibilities

Asia has emerged from the global financial crisis as an important stabilizing force and an engine of global economic growth. The establishment of the G-20 gives Asian economies the global forum that they need to both represent their interests in global governance and deliver on responsibilities concomitant with their growing weight in the global economy. The region has a host of cooperation arrangements in APEC, ASEAN+3, and EAS (East Asian Summit), all with ASEAN as the fulcrum. They are huge assets, but they need to be repositioned to relate effectively to the G-20 process and other global arrangements. They also need to comprehend the politics of the changing structure of regional power. This paper discusses the challenges that Asia faces in aligning regional and global objectives in financial, trade, and other areas of cooperation, such as climate change and foreign investment. It argues that Asia is now a critical player in the global system and has a central contribution to make in strengthening global governance and international policy outcomes. The paper sets out ways to fill gaps in regional cooperation and link the agenda for regional cooperation more effectively to Asia's new role globally. This is essential to sustain Asia's superior growth performance, correct imbalances, and support the global economic system.     

Dynamical analysis of the R&D-based growth model with a regime switch

Several empirical studies suggest that advanced economies experience a growth regime switch from factor accumulation to knowledge accumulation. To investigate the mechanism of such a regime switch, this study develops a concise and flexible dynamic model based on Romer (J Polit Econ 98:S71–S102, 1990) by introducing two types of endogenously supplied R&D input capital. The model replicates the growth patterns of developed and underdeveloped nations, clarifies the important role that capital plays in the difference between them, and presents several implications for interest-rate subsidies and official development assistance. Further, it shows that if a country enjoying long-run growth has little initial capital, its initial economic development will be based on capital accumulation. When the capital stock becomes sufficient for supporting R&D, the economy will achieve long-run growth through R&D.     

ICI Suppression Methods Based on Maximum Likelihood Sequence Estimation for MSDD OFDM Systems

To suppress the intercarrier interference(ICI) in multiple symbol dif ferential detection(MSDD) orthogonal frequency division multiplexing(OFDM) sys tems, statistical effects of ICI are analysed and then considered in the maximum likelihood sequence estimation(MLSE) process. Afterwards, a method, which can estimate and suppress the ICI by utilizing the knowledge of all the subcarriers in the MLSE process, is proposed. To reduce the computational complexity, severa l suboptimal ICI suppression methods, which utilize the knowledge of part of the subcarriers, are further proposed. Simulation results show that the proposed su boptimal methods can significantly enhance the bit error rate(BER) performances in both flat and frequency selective Rayleigh fading channels.     

Family business groups in Thailand: coping with management critical points

Using insights drawn from business history and business group literature, we develop a model to analyze how family business groups in late industrializing countries cope with management resource limitations that plague them in their pursuit of growth and diversification. A field study was conducted analyzing 215 family business groups in Thailand. Results suggest that family business groups will survive, and even prosper, if they are able to adapt their strategies and modernize their management styles to overcome three management resource limitations (or “management critical points”)—fund raising, production technology, and human resources. There is a detailed discussion of the different strategies that help to extend these upper limits or management critical points. We then divide family business groups into four types, which are based on their diversification and management strategies. We argue that their performances vary and that the modernized single business type and the modernized conglomerate type will be the future forms of family business groups, which will ensure that they remain competitive in the new global economy. Using our model, we conclude that family business groups in Thailand are still disinclined to make the transition to managerial enterprises, according to the conventional Anglo-Saxon model.