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1 – 10 of over 10000Gregg Huff and Giovanni Caggiano
This chapter uses new data sets to analyze labor market integration between 1882 and 1936 in an area of Asia stretching from South India to Southeastern China and encompassing the…
Abstract
This chapter uses new data sets to analyze labor market integration between 1882 and 1936 in an area of Asia stretching from South India to Southeastern China and encompassing the three Southeast Asian countries of Burma, Malaya, and Thailand. We find that by the late nineteenth century, globalization, of which a principal feature was the mass migration of Indians and Chinese to Southeast Asia, gave rise to both an integrated Asian labor market and a period of real wage convergence. Integration did not, however, extend beyond Asia to include core industrial countries. Asian and core areas, in contrast to globally integrated commodity markets, showed divergent trends in unskilled real wages.
This paper aims to seek to find answers to three questions. First, is there any possibility of long-term cointegration between East and Southeast Asian equity markets? If so, how…
Abstract
Purpose
This paper aims to seek to find answers to three questions. First, is there any possibility of long-term cointegration between East and Southeast Asian equity markets? If so, how many cointegrating equations are there? Second, what are the short-term causal relationships between equity markets in East and Southeast Asia? Third, what is the East Asia’s most influential equity market toward their Southeast counterparts, and vice versa?
Design/methodology/approach
This study uses Johansen's (1988) cointegration method to test long-run relationships among East and Southeast Asian equity markets. With regards to short-run causal relationships, this study uses Granger-causality test as well as the forecast variance decomposition method.
Findings
Johansen test proves that there is cointegration between East and Southeast Asian equity markets, but the integration process is not complete. Cointegrating vector also provides evidence that member countries of ASEAN+3 respond differently to external shocks. With regards to short-run causal direction, this study finds that Japan Granger-causes all equity markets in Southeast Asia, while Singapore and Vietnam Granger-cause all equity markets in East Asia. These results imply that Japan is the market with most linkages in Southeast Asia, while Singapore and Vietnam are the markets with most linkages to East Asia. Furthermore, forecast variance decomposition reveals that Japan is the East Asia’s most influential equity markets, while Singapore is the most influential equity market in Southeast Asia. This study suggests that policymakers in East and Southeast Asian countries to synchronize the capital market standards and regulations as well as to reduce the barriers for capital mobility to spur the regional equity market integration.
Research limitations/implications
Increasing integration of East and Southeast Asian capital markets forces policymakers in ASEAN+3 countries to synchronize monetary policies, as it has been found that regionally integrated capital markets reduce the degree of independent monetary policy (Logue et al., 1976). It is therefore important for policymakers in East and Southeast Asian countries to assess the possibility of stock market integration within this region to anticipate the future risks associated with economic integration as well as to build collective regional institutions (Wang, 2004). Click and Plummer (2005) also argued that integrated stock markets is more efficient than nationally segmented equity markets, and the efficiency of Asian capital markets has been questioned in particular after the 1997 Asian financial crises. Yet, the empirical evidence on the extent of financial integration among ASEAN+3 member countries has been limited and inconclusive. This study is therefore an attempt to investigate the recent development of ASEAN+3 equity markets integration.
Practical implications
This study focuses its attention on the existence and the extent of financial integration in East and Southeast Asia region, and it provides evidence that equity market integration in ASEAN+3 is far from complete, and for that reason, there is a need for policymakers in ASEAN+3 member countries to synchronize their standards and regulations. Furthermore, the policymakers in East and Southeast Asia can gain benefit from this study, as it provides the evidence that ASEAN+3 member countries respond differently to policy shocks, which may hinder the development of regional financial integration as well as the policy effectiveness of region-wide authority in ASEAN+3.
Originality/value
This research is different from previous studies, as it puts the regional financial integration within the context of ASEAN+3 frameworks. Unlike previous research that considers East and Southeast Asian countries as an individual entity, this research considers East and Southeast Asia into two different blocks, following Tourk (2004) who documented that negotiation process for ASEAN+3 financial integration is conducted in sub-regional level (ASEAN vs East Asia), rather than national level (country per country basis). Second, this study covers the period after the 1997 Asian financial crisis. As suggested in Wang (2014), that the degree of stock market integration tends to change around the periods marked by financial crises, the updated study on Asian financial integration in the aftermath of 1997 financial crises is important to document the development of regional financial integration.
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Priyanka Sinha, Subaveerapandiyan A. and Manoj Kumar Sinha
This study aims to understand the research data management (RDM) services offered by academic libraries in South Asian and Southeast Asian countries. This study aims to evaluate…
Abstract
Purpose
This study aims to understand the research data management (RDM) services offered by academic libraries in South Asian and Southeast Asian countries. This study aims to evaluate the library and information science professionals’ required RDM skills and the challenges faced with providing RDM services.
Design/methodology/approach
The research methodology for this study used a survey method with purposive sampling. Data were collected through online structured questionnaires, which were used to examine the current state of RDM services offered in academic libraries in South Asia and Southeast Asia.
Findings
South Asian and Southeast Asian region major types of RDM services provided were data repository, data management training, maintaining Web resources, data study and analysis, and promoting awareness of reusable data sources. Little attention was given to advisory services on data analysis/mining/visualization and supporting reproducibility and workflow transparency. The results indicated that most respondents agreed that metadata standards and data management planning skills were required for RDM services in South Asia and Southeast Asia.
Originality/value
This study is significant because it offers a comprehensive assessment of ongoing RDM services in academic libraries of South Asia and Southeast Asia. Most current literature focuses on best practices in developed nations. This study highlights the need for more competent and dedicated academic staff for effective RDM services. Library professionals can use this study to identify the gaps in RDM services and suggest formative measures to overcome such challenges.
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Mohammed Ayoub Ledhem and Mohammed Mekidiche
This paper aims to empirically explore the nexus between Islamic finance and economic growth across Southeast Asia based on the perception of the endogenous growth model.
Abstract
Purpose
This paper aims to empirically explore the nexus between Islamic finance and economic growth across Southeast Asia based on the perception of the endogenous growth model.
Design/methodology/approach
This paper applied the dynamic panel one-step system GMM as an optimum estimation approach to study the influence of Islamic finance on economic growth in Southeast Asia from 2013Q4 to 2019Q4. This paper used total Islamic financing as the major exogenous explanatory factor inside the endogenous growth model, whereas the gross domestic product was used as the measurement of economic growth. The sample consisted of all complete Islamic banks operating in Southeast Asia (Malaysia, Brunei Darussalam and Indonesia).
Findings
The findings demonstrated that Islamic finance is promoting economic growth in Southeast Asia, which reflects the weighty role of Islamic finance as an energetic contributor to economic growth.
Practical implications
This paper would enrich the literature by studying the nexus between Islamic finance and economic growth in Southeast Asia based on the perception of endogenous growth model, as the results of this paper assist as an attendant for financial scholars, decision-makers and policymakers to expand Islamic finance globally as an alternative funding source for the best involvement to economic growth.
Originality/value
Despite the existing studies on the nexus between Islamic finance and economic growth, this paper is the first that explores empirically the nexus between Islamic finance and economic growth in Southeast Asia based on the theoretical background of the endogenous growth model to obtain solid information on this nexus.
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Muhammad Najib Razali, Norhidayah Md. Yunus, Ainur Zaireen Zainudin and Janice Lee Yim Mei
The purpose of this paper is to assess the sustainability levels in terms of sustainability practices amongst public-listed property companies in Southeast Asia.
Abstract
Purpose
The purpose of this paper is to assess the sustainability levels in terms of sustainability practices amongst public-listed property companies in Southeast Asia.
Design/methodology/approach
The websites and annual reports for each company were assessed to determine the level of sustainability practices amongst property companies in Southeast Asia. Their sustainability strategies were then rigorously assessed by using a scorecard which assesses sustainability levels based on related issues.
Findings
The results show that green or sustainable property development in Southeast Asian countries remains at a moderate level. There is still much room for improvement to enhance the level of green attributes in property development.
Research limitations/implications
This paper only assesses property development companies in five Southeast Asian countries; namely, Singapore, Malaysia, Thailand, Indonesia and the Philippines.
Originality/value
Given the increasingly significant sustainability issues – especially amongst international property development players, this paper attempts to deliver better informed investment and decision-making ideas for sustainable property developments.
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This paper argues that one must be careful in drawing lessons from the development experience of East and Southeast Asia. The economic strategy followed by these countries was not…
Abstract
This paper argues that one must be careful in drawing lessons from the development experience of East and Southeast Asia. The economic strategy followed by these countries was not one of free trade, or even simulated free trade. Instead, in these countries key conditions were created which provided hospitable environments for investment coordination. It was the ensuing boom in investment which generated rapid economic development. The current economic problems of this region are not the result of corrupt states or crony capitalism, none of which are new to the region, but the result of an inability to engage in economic restructuring
Peter J. Buckley, Jeremy Clegg, Adam R. Cross and Hui Tan
This paper explores the impact of China’s growing prominence in global and regional foreign direct investment (FDI) fl ows on the Southeast Asian countries as investment…
Abstract
This paper explores the impact of China’s growing prominence in global and regional foreign direct investment (FDI) fl ows on the Southeast Asian countries as investment locations. Providing internal social and economic cohesion is maintained, China is likely to exert a greater pull on regional FDI after WTO accession. To benefit from China’s success, the Southeast Asian countries will need to replace deteriorating individual locational advantages relative to China with a superior regional one. The ASEAN Free Trade Agreement or the Asian Investment Area or both are likely to be important policy solutions.
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Johnrev Guilaran and Hong An Nguyen
Disaster responders play a crucial role in providing aid to individuals and communities following catastrophic events. Being tasked to protect and preserve life and property…
Abstract
Disaster responders play a crucial role in providing aid to individuals and communities following catastrophic events. Being tasked to protect and preserve life and property, these groups of professionals are constantly exposed to various hazards, which puts them at risk of negative mental health consequences. This chapter describes and discusses these mental health effects and interventions for disaster responders in Southeast Asia. The chapter defines who the disaster responders are in Southeast Asian countries. Drawing from the literature, this chapter enumerates the various positive and negative psychological consequences of disaster response, and the risk and protective factors associated with disaster response work. This chapter also describes the different interventions, such as psychological first aid and psychotherapy, following the Inter-agency Standing Committee (IASC) (2007) guidelines on conducting mental health and psychosocial support services (MHPSS), and focusing on the Southeast Asian context. This chapter ends with a discussion of the different challenges of providing MHPSS in Southeast Asia and with some recommendations on how to improve the delivery of these services and the mental health of disaster responders in general.
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This paper aims to investigate the history and distribution of trade ceramics in Southeast Asia over a thousand-year period stretching from the ninth to the early nineteenth…
Abstract
Purpose
This paper aims to investigate the history and distribution of trade ceramics in Southeast Asia over a thousand-year period stretching from the ninth to the early nineteenth century CE.
Design/methodology/approach
The study takes a material culture approach to the writing of marketing history by researching the ceramics trade from the starting point of artifacts and their social context. It draws from literatures on Chinese and Southeast Asian ceramics art history and archaeology. It also is informed by first-hand experience inspecting surviving artifacts in shops, talking to dealers and taking in museum displays.
Findings
After a brief historical overview of the ceramics trade in Southeast Asia, the research further explores topics in physical distribution (transportation routes, hubs and local marketplaces and ships, cargo and packing) and product assortments, adaptation and globalization of consumer culture.
Research limitations/implications
The art history and archaeological literatures provide a good overview of the ceramics trade and analysis of surviving material artifacts, but only limited information about distribution and consumption. Many questions remain unanswered.
Originality/value
This study contributes to international business and marketing history by documenting a thousand years of trade among China, mainland and insular Southeast Asia, and a long-standing cultural exchange facilitated by seaborne commerce. It also shares a marketing perspective with the fields of Southeast Asian art history and archaeology. Research in marketing history has neglected this region. To fully understand the development of marketing in the pre-industrial era, accounts from civilizations outside the West must be included.
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The leaders of the Association of the Southeast Asian Nations (ASEAN) announced to negotiate a Regional Comprehensive Economic Partnership (RECP) in November 2012, which is…
Abstract
The leaders of the Association of the Southeast Asian Nations (ASEAN) announced to negotiate a Regional Comprehensive Economic Partnership (RECP) in November 2012, which is comprised of 10 ASEAN Member States (Thailand, Indonesia, Philippines, Malaysia, Singapore, Brunei, Vietnam, Cambodia, Laos, and Myanmar) and its six FTA partner countries (China, Japan, South Korea, Australia, New Zealand, and India). Embedded in the ASEAN Charter and implemented in all existing ASEAN + 1 FTAs, the ASEAN Centrality has been a corner stone principle in ASEAN-centric economic initiatives. Emerging discord in the region, complicated security climate and the rise of China, among others, have put the ASEAN Centrality under challenge. The development of the RCEP provides a timely case to assess ASEAN’s leadership role in creating the world’s most populous Free Trade Area. The RCEP may enhance ASEAN’s central role, but ASEAN needs to address challenges facing the regional integration now and beyond 2015. On the country/economy level, the chapter reviews some ASEAN Member States and their FTA Partners how they practice their ASEAN policy and seek leadership role in ASEAN. The three major players in ASEAN-Indonesia, Thailand, and Malaysia have reiterated the importance of the ASEAN Centrality in their foreign policy in the past, but debates emerge whether, such as in Indonesia, ASEAN Centrality best suits the national interests. The chapter also explores how the major powers, including China and the United States, respond to and collaborate with the group of smaller developing country players.
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