M. Hadi Soesastro: Indonesian public intellectual,Asia Pacific visionary

This note commemorates and celebrates the life and contribution of M. Hadi Soesastro, a Bulletin board member who passed away on 4 May 2010. Hadi was arguably Indonesia's leading public intellectual in the fields of international economic policy and political economy, ASEAN economic cooperation, and East Asian economic integration. He made seminal contributions in these fields, and on the political economy of reform in Indonesia, the economic development of East Timor, and energy economics. He also played a major role in institutional development, most notably at the Centre for Strategic and International Studies, and in many other official, academic and research endeavours in Indonesia and East Asia.     

太平洋彼岸美国长滩,青岛的姊妹城市

青岛与长滩于1985年结成友好城市，25年来教育、文化、体育、志愿者和经贸交流频繁。1997年4月该市时任市长奥尼尔率政府和经贸代表团访问了青岛，并促成了长滩港和青岛港的结好。     

Microfinance in the Asia Pacific

The use of financial services as a development tool has taken a variety of forms over the past 25 years—rural credit schemes offering heavily subsidised loans to poor farmers, microfinance organisations providing working capital loans to predominately female micro-entrepreneurs, and a variety of organisations offering a range of financial services (credit, savings and insurance) to help poor households increase incomes and reduce their vulnerability to income fluctuations. Microfinance providers in Asia and Latin America have been world leaders, and the demonstration effect of their successes has helped to build substantial microfinance industries in countries such as Indonesia, Bangladesh and Bolivia. Africa has fewer well-known programs but some notable performers and growing microfinance sectors nonetheless; while regions such as the South Pacific have few if any microfinance successes. This paper highlights some key themes in the development of microfinance, with particular reference to the Asia Pacific region.     

Workers' Remittances,Capital Inflows,and Economic Growth in Developing Asia and the Pacific

This paper examines the impact of remittances on economic growth, using developing countries in Asia and the Pacific as a case study. Using data for the period 1993–2013, our results show that remittances only generate negative and significant impacts on economic growth if they reach 10 percent of GDP or higher. A remittances‐to‐GDP ratio of below 10 percent could still impact growth negatively, but the effect is statistically insignificant. The present study finds some degree of substitutability between remittances and financial development. Foreign direct investment (FDI), but not other types of capital inflow, contributes significantly to economic growth. Other traditional growth engines, including education, trade openness, and domestic investment, are crucial in promoting growth in developing Asian and Pacific nations.     

欢乐飞越太平洋

蛇年春节,在厄瓜多尔、哥伦比亚、美国、阿曼、卡塔尔、韩国、蒙古等7个国家,重庆2013年海外"欢乐春节"系列活动精彩上演,重庆歌舞、杂技、民乐、曲艺和铜梁龙舞等巴渝风情独具魅力,惊艳世界。2月6日至2月27日,受文化部委派,重庆市派出由市曲艺团、市杂技艺术团、市歌剧院和市歌舞团四大文艺院团     

Arbitration and Bargaining across the Pacific

This paper reports laboratory experiments comparing arbitration behavior between and across two countries with extensive trade relations, the United States and Japan. Besides comparing disputes in both locations, we evaluate disputes between them. While we find nominal differences between the countries, we observe significant changes in both groups' behavior when facing someone from the other country. Specifically, Americans seek larger profits when facing a Japanese counterpart and Japanese subjects settle more frequently with an American counterpart. Our results suggest that the literature on bargaining behavior across cultures paints an incomplete picture of international comparisons by failing to consider bargaining interactions.     

Aid and Growth in the Pacific Islands

The literature on the aid–growth relationship has recently been reinvigorated through the application of growth equations that seek to explain growth as a function of institutions, policies and aid. This approach has generally led to the conclusion that aid has contributed to growth, albeit with decreasing returns. Some studies have found that there is only a positive relationship between aid and growth when there is a favourable policy environment—a finding that has been used to provide a reason for the reallocation of aid to better-performing countries and an increased emphasis by donors on aid conditionality. It is unclear whether these conclusions apply to the Pacific island countries given their unusual features: notably, small populations, remote locations and a high level of aid. This paper draws on the recent literature in examining the aid–growth relationship in seven Pacific island countries. A positive relationship between aid and growth is identified, although it is subject to decreasing returns. The study is unable to provide an adequate explanation for the role of institutions and policy in growth in the countries studied, or determine whether aid only contributes to growth when favourable policy environments are in place.     

Strategies for Good Governance in the Pacific

Governance problems in the Pacific find their roots in deeply embedded political and social issues such as the structures of government, the quality of leadership, and the capacity of civil society to hold government accountable. These root causes are not easily addressed by outsiders, such as donors. Yet, governance is so fundamental to the development process that development agencies have a responsibility to assist. The options available to them are relatively limited, however, given that sustained change can only occur if driven from within. But there are courses of action available to development agencies and this paper has outlined a few. They do not necessarily need substantial amounts of funding. But they do need persistent and continuing effort and support and a substantial change of strategy by donors.     

The role of natural resources in trade patterns among the U.S., Japan,and other countries in the Asian Pacific Rim

The Role of Natural Resources in Trade Patterns among the US, Japan, and Other Countries in the Asian Pacific Rim. —The paper investigates the role natural resources play in shaping the trade patterns of both the US and Japan in trading with each other and with country groups in the Asian Pacific Rim. It has been argued that it is the US’s effective exploitation of natural resource endowment which was instrumental in that country’s rise to economic preeminence at the turn of this century. Given that the US relative resource abundance has diminished after the Second World War, one would expect to see the declining role of resources in American exports. Using data for 1973, 1982, and 1991, the empirical results indicate clearly that natural resources continue to play a critical role in explaining the more recent bilateral trade patterns.     

Pacific Island Economies: Performance, Growth Prospects and the Impact of the Asian Economic Crisis

The small Pacific island economies are increasingly challenged by globalisation. This paper, drawing on the limited literature, surveys the economic performance and growth prospects of six of the economies for which fair economic data are available, with special reference to the impact of the Asian crisis. Developments and problems are discussed country by country and sector by sector. In conclusion the author indicates the reforms needed to raise living standards in these small countries.