Bank financial structure in pre-crisis East and Southeast Asia

Seeking evidence on the role of bank governance in the 1997 crisis, we study financial structure and bank performance from 1987 to 1997. Financial performance ratios (capital adequacy, liquidity, profitability, and loan preference) are regressed on structural variables (bank assets, net income, administrative expenses, and time), focusing on banks’ management efficiency and financial performance. During financial liberalization, loan-preference ratios were higher, perhaps signaling more risk; so were capital-adequacy ratios. Capital adequacy falls, then rises as management size increases; profitability behaves oppositely, indicating diminishing returns. Thailand’s, Korea’s and Indonesia’s banks show stronger lending preference but weaker profitability; possible harbingers of crisis.     

Understanding India's Regional Initiatives with East and Southeast Asia

In recent years, India has concluded several bilateral and regional agreements with countries in East and Southeast Asia. This paper discusses four motivating factors underlying these initiatives: (i) the recognition by other Asian countries of India's growing importance as an investment and export market, as a supplier of manpower, and as a counterbalance to China's growing regional dominance; (ii) India's recognition of Asia's growing importance in the world economy; (iii) India's desire to prevent its marginalisation and to create a sphere of political and economic influence within East and Southeast Asia; and (iv) geo-political considerations such as securing energy interests, and addressing transport and connectivity concerns and long-term political and sub-regional stability objectives. India's approach to these integration efforts has been largely defensive and its future integration initiatives are likely to be more geo-political and strategic in nature.     

Selected Land Reforms in East and Southeast Asia: Their Origins and Impacts

Agrarian reforms in the four case study countries examined here came about by outside influence (Korea and Taiwan), revolutionary uprising (People's Republic of China), and legislation (Philippines). In the last case, the reforms remain very incomplete. In Taiwan and South Korea, reforms initially promoted a more equitable distribution of resources and income. This widened the domestic market, lessened underemployment and joblessness in both agriculture and industry, increased profitability in manufacturing, and established more equitable development patterns. In these economies, a national market has preceded (or accompanied) development of world markets. Land reform is not a once-and-for-all phenomenon. Resources and incomes can concentrate again in the absence of proper government policies. There is no necessary correlation between land reform, economic improvement, and democratic forms of government.     

东亚区域经济整合与华商

在经济全球化和区域化的浪潮中,东亚区域经济一体化迅速兴起.作为区域经济的微观基础之一,华商企业在区域经济发展中具有重要地位,并在东亚区域化进程中发挥积极作用.当代华商是东亚区域经济整合的重要力量,华商企业的国际化程度提高和经济网络扩展,将推动区域产业分工和生产经营网络的格局变化.     

中国经济崛起对东亚发展的机遇

新世纪之初,有关中国经济崛起是对邻国及发达国家经济发展的“威胁”的各种“版本”也纷纷见诸于报端,在国际社会中引起了轩然大波。然而,这些貌似合理的论调在严谨的实证分析面前是根本站不住脚的。本文的研究表明,“黑洞论”经不起数据的检验;中国人民币币值的稳定不仅有益于中国,而且有益于世界。中国的经济崛起与世界的经济发展之间是一种互惠互利、共存共赢关系。     

把拳拳之心化为报国之志——记两位南侨机工的抗战故事

抗日战争时期,许多旅居海外的华侨情系故土,除出钱捐物外,还自发地组织如"救护服务团"、"义勇工程队"、"学兵队"等救国社团,回国支援抗战。"南侨机工"就是其中的一个代表。祖国召唤共赴国难"机工"是当时华侨对汽车司机和     

把拳拳之心化为报国之志——记两位南侨机工的抗战故事

祖国召唤 共赴国难 “机工”是当时华侨对汽车司机和修车技术人员的统称。自1937年“七七事变”到1938年,武汉、广州相继沦陷,我国沿海各港口被日寇侵占。南洋各地华侨同仇敌忾,捐款捐物,国民政府为了运入国际援华物资,乃创“军事委员会西南进出口物资运输总经理处”（西南运输处）于广州,后迁入昆明。其年,滇缅公路正在加紧修筑。     

跨境生产分享与东亚地区一体化:中国的作用

本文考察了跨境生产分享对官方一体化的影响,结论是它促进了单一市场政策的实施,而不利于自由贸易区和关税同盟的建立。此外,市场导向的一体化降低了贸易对汇率变动的敏感度,对各国的汇率政策产生影响。文章还考察了中国在建立包含生产分享的地区一体化中的作用。     

Transboundary Pollution in Southeast Asia: The Indonesian Fires

Uncontrollable forest fires in Indonesia have caused much environmental damage in Southeast Asia with immediate countries such as Singapore, Malaysia, Brunei, and even Southern Thailand bearing most of it. The intentional burning of forests has engendered a transboundary haze pollution problem with severe economic ramifications in both victim and perpetrator countries. This paper reviews the related issues and suggested policy responses from the different interdisciplinary perspectives. Identification and analysis by way of a “stakeholders approach” to the possible sharing of costs in certain programs to combat the fires and haze is suggested. The paper also discusses the role of economic incentives in managing forest fires.     

A note on educational performance of economics graduate programs in East and Southeast Asia

This paper considers educational performance of economics graduate programs in East and Southeast Asia by examining the highest educational origins of the regional contributors in the top five journals between January 1995 and July 2005. Evidence proves that East and Southeast Asian graduates represent 13% of the contributors, have a 10% share of the regional aggregate AER-equivalent-length pages, and American doctors are dominant. Educational productivity of East and Southeast Asian economics graduate programs is thought to be equal, at best, to that of the middle-ranked ones in the United States top-50 schools.     

东南亚华人企业集团与"彭罗斯效应":基于委托-代理的解释

本文以委托—代理理论为依据,分析东南亚华人企业集团中的"彭罗斯效应"问题。结果表明,东南亚华人企业集团特殊的家族式治理模式与人情至上的文化理念,使得这些企业在获得管理资源时能够一定程度地缓解"彭罗斯效应"所谓的管理约束,给企业带来稳定和成长;但也正是这些特征,使得东南亚华人企业集团的管理能力受到一定限制,并使企业成长面临瓶颈问题。     

The role of production fragmentation in international business cycle synchronization in East Asia

This paper analyzes factors contributing to the observed increase in international business cycle synchronization between eight East Asian developing countries and the major developed economies of Japan and the United States. To this end, a two-country dynamic general equilibrium (DGE) model is proposed which focuses on the role of production fragmentation among these countries. A key feature of the model is that it includes the trade in differentiated capital goods, which are added to the capital stock for production, and the technology embodied in these capital goods. The parameters of the model are calibrated using actual data of the countries included. Model simulations are conducted for two periods (1993–1997 and 1999–2005), before and after the Asian financial crisis, showing that the increase in business cycle synchronization can be attributed mainly to the growing fragmentation of production activities.     

The geopolitics of international trade in Southeast Asia

Review of World Economics - Motivated by the historically tense geopolitical situation in Southeast Asia, the paper simulates the potential closure of key maritime waterways in the region...     

东南亚国家的经济调整及其前景分析

金融危机后，东南亚各国政府积极采取措施，大力实施国内经济 且和调整，东南亚经济已走顾机阴影，进入恢复性增长阶段。但在世界经济周期波动的冲击和国内经济转型与结构调整的拖累下，短期前景不容乐观，东南亚经济复苏将是一个艰难曲折的过程。