Economic Governance,Accountability and Accounting Change in East Asia

The development of economic governance is now thought to require the remaking of respective accountabilities along with significant corresponding accounting change. On the basis of key discourses about a particular ‘critical’ period in East Asia's recent history, this article considers whether certain regional and individual country accountabilities were actually remade and whether the role of accounting changed accordingly. It finds that the preferred strategies governing economic recovery after the East Asian crisis were partial and incompletely realized. It concludes that ‘higher order’ governance has been unexpectedly problematic and requires more East Asian sourced research in future.     

ASEAN's role in Japan's economic policy in East Asia

Although Japan's economic and trade policy with the United States and Europe has been widely researched in such works as Tyson (1992), relatively less research has been done on Japan's recent trade and economic policies towards other East Asian countries such as Korea and Taiwan. Since the mid-1980s, because of rising labor costs and appreciation of the Japanese yen, Japan has increased manufacturing production in ASEAN countries such as Thailand and Malaysia. The purpose of this short article is to discuss Japan's increased economic focus in Asia, and implications for East Asian countries such as Korea and Taiwan. © 1993 John Wiley & Sons, Inc.     

东亚区域一体化的“轮轴-辐条”结构难题与中国的对策

东亚区域一体化近年来有较快的进展,但也出现了轮轴-辐条结构,导致离心力增大的障碍。中国作为东亚地区的经济大国,在东亚区域一体化过程中,既要发挥大国的作用,也要争取作为轮轴国的地位,这样才能在一体化过程中取得主导地位,获得应有的利益。     

The internationalization of an Arab bank: The case of Ahli United Bank of Bahrain

Ahli United Bank of Bahrain (AUB) has “leapfrogged” over early stages of internationalization by means of multiple rapid acquisitions of competitors. Use of this high‐cost, high‐risk strategy is well known among companies with the resources to invest in international expansion, but its application has not yet been studied in depth among companies based in the Middle East. This theory‐driven case study examines the growth record of AUB, its place in the regional banking industry in the Gulf, and its successful internationalization as an Arab bank. The article concludes with a detailed assessment of managerial and theoretical implications arising from the case study, and proposes further research to understand better the process of internationalization by companies expanding from a base in the Middle East. © 2011 Wiley Periodicals, Inc.     

东亚区域内贸易的发展趋势及面临的问题

东亚区域内贸易飞速发展是当今世界经济两大潮流——经济全球化和区域经济一体化趋势下的一个独特现象,已经引起学者们的广泛关注,纷纷对其作出大量研究。东亚区域内贸易未来发展面临的主要问题是东亚经济体间存在多种冲突;贸易摩擦问题不断;区域货币金融合作进展缓慢。     

东亚经济一体化的贸易与投资效应

20世纪80年代以来,东亚区域(10+3)经济一体化取得长足的进展,经济区域化给东亚地区带来显著的经济绩效。文章根据区域经济一体化理论,深入地分析了东亚经济区域化带来的区域内贸易和投资效应,并通过计量模型对东亚地区的FDI与贸易的关系进行了检验,发现在东亚FDI与进口和出口都是互补关系,即FDI促进了东亚地区的贸易发展。     

美国参与东亚区域合作对中国的影响研究

在亚太框架下的贸易自由化一直进展缓慢,直到最近,亚太的经济合作才出现实质性的进展。特别是美国不仅与东盟10国签订了贸易和投资框架协议,还与韩国、澳大利亚开始贸易自由协定的谈判,美国对东亚区域合作的参与度越来越高。对于中国而言,美国参与东亚的贸易自由化进程对其会有什么样的影响,是值得密切关注的。文章基于GTAP模型对美国参与东亚区域合作的路径进行模拟,并基于模拟结果分析其对中国的影响。结果表明,中国不参与东亚区域合作是弊大于利,而参与则是利大于弊。中国需要注意的问题:一是积极参与东亚区域合作是最优策略;二是要注意美国的扼制策略,积极加强自由贸易区建设。     

东亚区域生产网络发展与东亚区域经济合作的深化

随着产品内分工的发展,东亚区域生产网络的日益深化已成为东亚区域经济发展不可逆的趋势。本文梳理了东亚区域生产网络的表现和特征,对东亚区域生产网络引起的东亚贸易结构变化进行了探讨,分析了东亚区域生产网络对东亚各经济体的影响,揭示了东亚区域生产网络存在的缺点和潜在问题,并提出在东亚区域经济合作不断深化的背景下,促进东亚区域生产网络进一步发展的策略。     

Emerging market multinationals’ role in facilitating developed country multinationals’ regional expansion: A critical review of the literature and Turkish MNC examples

The recent expansion of emerging market multinationals into world markets has generated a rich literature. While this literature has addressed the potential motivations, behaviors, and strategic implications of these firms’ moves abroad, their possible role as facilitating agents in regional expansion has not been adequately explored. In this paper, we explore this question through a critical review of the literature and examples from Turkish multinationals. We also offer questions for future research.     

Exchange Rate Pass‐through and Currency Invoicing: Implications for Monetary Integration in East Asia

Exporter's price‐setting behaviour and currency invoicing play a key role in the literature on the new open‐economy macroeconomics. This paper estimates exchange rate pass‐through coefficients for the exports of four ASEAN countries: Indonesia, Malaysia, the Philippines and Thailand. In addition, previous estimates of pass‐through as well as invoicing behaviour in East Asia are discussed in the context of regional integration. The new pass‐through coefficients are estimated under two alternate specifications for up to 34 goods for each of the four ASEAN countries destined for up to 13 major markets. The results suggest: (a) little pass‐through is occurring in Southeast Asia and (b) this lack of pass‐through is more likely attributable to the fact that they are small countries in a relatively integrated market, rather than evidence of pricing to market. The implications for regional monetary integration of this apparently low degree of pass‐through are detailed.     

从区域性国际公共产品供给角度析东亚区域合作中的中韩自贸区建设

区域经济一体化势不可挡,成为了提供区域性国际公共产品的有效途径。中国作为地区性大国,在推进东亚区域合作方面责任重大,其利益亦不应仅仅局限于贸易创造效应。在目前东亚地区大国间尚难形成合力共同推动地区经济一体化的情况下,中韩自贸区建设将成为本地区区域性国际公共产品集体供给的有益尝试。     

East Asia's Anti‐dumping Problem

East Asia accounts for a large and growing share of worldwide anti‐dumping (AD) activity. East Asian countries have long been the main targets of AD actions, accounting for about one‐third of all AD actions during the 1980s, more than 40 per cent of all AD actions during the 1990s, and almost 50 per cent of all AD actions in recent years. After controlling for factors that might influence filings such as the exchange rate and trade volume, it is found that East Asian countries are subject to about twice as many cases as either North American or Western European countries. Moreover, the trend in filings against East Asian countries is increasing, meaning that in recent years the propensity for countries to direct their AD filings against East Asian countries is growing. One concern is that the growing intensity of AD use against East Asia is driven by China‐PRC. Importantly, but a rising propensity is found even excluding China‐PRC.     

Peace and Economic Interdependence in the Middle East

Can economic interdependence pacify the Middle East? While Middle Eastern countries have, for the most part, avoided the global trend of regionalism, this study provides empirical evidence that Middle Eastern countries with significant trade ties to other countries in the region do cooperate more and fight less. In addition to confirming the liberal notion of peace through trade, this study shows that several conditions outlined by the selectorate theory of political survival must be fulfilled if economic interdependence in the Middle East is to be achieved. A case study outlining Israeli and Turkish economic cooperation is used to show the selectorate model's regional compatibility. The regional applicability of the selectorate theory leads us to conclude that politically liberal countries are more likely to maintain economic relations with one another than with autocratic ones. Since liberal countries will be more economically interdependent with one another they will also be more peaceful towards one another. Ultimately, then, this study concludes that political liberalisation is one way of enhancing regional economic interdependence and consequently the prospects for a more peaceful Middle East.     

FTA between China and Korea

Under the regional cooperation being a main trend of the World’s economic development, East Asia should make China and Korea as a breakthrough, build Sino-Korean free trade district, and then push the development of the whole East Asia’s regional economic cooperation. Both China and Korea want to contribute to FTA and keep the close geographic, humanistic and trade relation. Both countries’ political relation has been improving. In the IT industry, the focus of sino-Korean FTA, sino-Korean IT industries develop quickly and possess the cooperative basis. While in the FTA’s construction, IT industries’ cooperation faces the obstacles: Sino-Korean economic nationalism ; the existence of huge china trade deficit for sino-Korean trade ; the copyright dispute in the software development. Sino-Korea must take the corresponding measures in order to push the sino-Korean substantial development.     

FTA betwee China and Korea

Under the regional cooperation being a main trend of the World’s economic development,East Asia should make China and Korea as a breakthrough,build Sino-Korean free trade district,and then push the development of the whole East Asia’s regional economic cooperation.Both China and Korea want to contribute to FTA and keep the dose geographic,humanistic and trade relation.Both countries’ political relation has been improving.In the IT industry,the focus of sino-Korean FTA,sino-Korean IT industries develop quickly and possess the cooperative basis.While in the FTA’s construction,IT industries’ cooperation faces the obstacles:Sino-Korean economic nationalism; the existence of huge china trade deficit for sino-Korean trade;the copyright dispute in the software development.Sino-Korea must take the corresponding measures in order to push the sino-Korean substantial development.     

The internationalization of the RMB: a perspective vis a vis East Asian economic and financial integration

The People’s Republic of China has achieved remarkable progress in the internationalization of the RMB by introducing a number of concrete measures to boost the RMB’s status on the world stage since 2009. The ongoing RMB internationalization is being promoted under the background of deepening economic and financial integration in East Asia. In this article, we attempt to analyse RMB internationalization from the perspective of East Asian regional integration. We hypothesize that East Asian regional integration lays a broad foundation for China to push RMB internationalization forward. An internationalized RMB, we argue, will play more important roles in the process of East Asian regionalization. Thus, RMB regionalization could be an important and necessary step of internationalization. The Chinese authorities should not only push the RMB toward internationalization under China’s framework of domestic financial system reform, but they should also integrate RMB internationalization into the process of East Asian economic and financial integration. Therefore, a win–win strategy of RMB internationalization for both China and East Asian countries is needed.     

东亚经济一体化:理论基础与现实指向

随着经济全球化的迅速发展,区域经济一体化成为不可逆转的趋势。尽管东亚已经成为世界第三大经济体,但是除了正在成长中的东盟自由贸易区和没有约束力的亚太经合组织、亚欧会议外,东亚尚未形成正式的区域经济一体化组织。通过分析东亚区域经济一体化发展过程中的"雁行模式"的利弊、APEC的特点、四轮驱动模式的作用,针对东亚区域经济一体化的特点、建立东亚共同体的长远目标,提出了加快实现东亚经济一体化的若干对策建议。     

人民币货币价值的稳定性分析——人民币成为区域主导货币的基础

随着我国经济实力的不断增强,我国和人民币在东亚区域货币合作进程中的地位和作用日益显现。人民币能否在东亚货币竞争中找到合理的地位,进而成为区域主导货币,其稳定的货币价值是最基本的要求和基础。本文将分别通过分析人民币对内价值、对外价值的稳定性及其稳定的政治基础,进而指出人民币已初步具备成为东亚区域主导货币的条件。     

The FTA Music Is Playing in Asia: After ECFA,Will Taiwan Join the Dance?

In the context of stalled multilateral trade negotiations, major trading economies are seeking free trade agreements (FTAs) to secure their market access objectives. Nowhere is this dynamic stronger than in East Asia, where a web of bilateral and plurilateral agreements is stitching together piecewise an Asian free trade area that could plausibly rival the EU and NAFTA trade blocs and where the possibility of a formal pan-Asian agreement has been raised. Taiwan has been largely excluded from this dynamic. However, with the June 29, 2010 signing of the Economic Cooperation Framework Agreement (ECFA) with China, the possibility of Taiwan joining the FTA dance in East Asia would appear to have been greatly strengthened as the advocates had anticipated. This article considers the economic and trade implications of Taiwan's participation versus non-participation in an emerging East Asian trade bloc. We support our analysis with simulations using the GTAP computable general equilibrium model. The article finds that the benefits to Taiwan of participating in such a bloc have increased, as have the opportunity costs of exclusion, since the share of East Asian partners in its trade has risen.     

The effect of culture on consumer choice: the need for conformity vs. the need for uniqueness

This paper investigates whether East Asians are more likely than Westerners to purchase a brand presented as a best‐seller given that East Asians tend to have a higher need for conformity and Westerners tend to have a higher need for uniqueness. Results show that East Asians are more likely than their Western counterparts to purchase such brands when the perceived risk is low. However, when the perceived risk is high, both East Asians and Westerners tend to prefer a brand presented as a best‐seller. Results also show that, in a three‐option set in which the C option is dominated by the B option but not by the A, both East Asians and Westerners are more likely to select option C when it is presented as a best‐seller than when it is not. Managerial implications and the study's limitations are also discussed.