Search results
1 – 10 of 101Soukavong Bounthone and Kyophilavong Phouphet
In the Lao People’s Democratic Republic (Lao PRD), the services sector accounts for more than 41% of GDP and more than 80% of total trade (World Bank, 2021). Empirical studies…
Abstract
In the Lao People’s Democratic Republic (Lao PRD), the services sector accounts for more than 41% of GDP and more than 80% of total trade (World Bank, 2021). Empirical studies show that most of the services trade occurs in the travel and tourism sectors, accounting for more than 50% of the total services trade in the Lao PDR. The services sector also plays an essential role in the Lao PDR’s wholesale and retail sectors, which employ the most significant number of people across all services sectors. The services trade balance was in a surplus between 1997 and 2011, though in 2012, it entered a significant deficit that continues to the present. This study investigates the link between services trade and economic growth in the Lao PDR, building on a recent analysis of the services trade in various economic and economic growth. The authors use econometric methods such as the autoregressive distributed lag (ARDL) bound test and the Granger causality test to analyze time-series data for the Lao PDR from 1990 to 2019. The econometric results demonstrate the long-run relationship between economic growth and variables related to the services trade. This indicates the government and policymakers of the Lao PDR should invest in infrastructure, particularly in trade facilitation and the liberalization of the services sector, to facilitate the acceleration of economic growth.
Details
Keywords
Hail Park, Jong Chil Son and Wenbo Wang
This study empirically aims to analyze the transmission of monetary policy in consideration of asymmetry based on the Bank of the Lao PDR (BOL)'s monetary policy tools and real…
Abstract
Purpose
This study empirically aims to analyze the transmission of monetary policy in consideration of asymmetry based on the Bank of the Lao PDR (BOL)'s monetary policy tools and real and financial variables in the domestic market.
Design/methodology/approach
This study adopts two approaches, conventional vector autoregression (VAR) and asymmetric VAR, to investigate the impact of monetary policy on macroeconomic variables including inflation and real GDP growth in the Lao PDR.
Findings
Under a highly dollarized monetary regime, the policy rate change plays a weaker role compared with M0, which exerts significantly positive effects on real GDP growth and inflation. The results of the asymmetric VAR model further substantiate that the real economy responds to a positive M0 shock (easing monetary policy) rather than a negative shock (tightening monetary policy).
Practical implications
Overall estimation results suggest that the effectiveness of monetary policy is limited in Laos, which would take priority over efforts to strengthen the development of the short-term financial market and de-dollarization.
Originality/value
This study can fill the gap in the literature in which the discussions on the transmission mechanism of monetary policy in the BOL's monetary policy are still little known.
Details
Keywords
Vadsana Chanthanasinh and Piya Wongpit
The main objectives of this study were to examine the Lao People’s Democratic Republic (PDR) agricultural exports to the People’s Republic of China (PRC), the tuning of the…
Abstract
The main objectives of this study were to examine the Lao People’s Democratic Republic (PDR) agricultural exports to the People’s Republic of China (PRC), the tuning of the Agricultural Commodity Frequency Index (ACFI) to non-tariff measures (NTMs), and the coverage ratio of goods to determine the effects of the PRC’s NTMs on Lao PDR’s agricultural exports using a demand export model with a fixed-effect method. The authors found that Lao PDR’s agricultural exports to the PRC increased by an average of 46.91% from 2013 to 2020, covering a total of 51 product codes, comprising six of the most valuable product types (i.e., bananas, corn, tapioca flour, watermelon, sticky rice, and sweet potato) given priority by the PRC. Additionally, from 2013 to 2020, the average ACFI concentration with NTMs was 10.08%, and the average coverage ratio for goods was 14.43%. The results of statistical significance testing at 1% suggest that three factors demonstrated the most significant impact on value: agricultural products facing NTMs in the form of sanitary and phytosanitary (SPS) measures and technical barriers to trade (TBTs), treaties with priority conditions regarding SPSs and priorities for agricultural products, and the real gross domestic product (GDP) of the PRC. Furthermore, a PRC GDP increase of 1% resulted in a 3.1235% impact on Lao PDR exports.
Details
Keywords
James Gomez and Robin Ramcharan
Governments in Southeast Asia have introduced and enforced harsh legal measures to stem the spread of COVID-19. These measures are disproportionate to the crisis and disregard…
Abstract
Governments in Southeast Asia have introduced and enforced harsh legal measures to stem the spread of COVID-19. These measures are disproportionate to the crisis and disregard fundamental human rights. Against this backdrop, public trust in government among Southeast Asians nevertheless remains relatively high – paradoxically, people living in authoritarian regimes tend to trust their governments more compared to people living in democratic regimes. The chapter examines the impacts that anti-COVID-19 legal measures have left on the protection of human rights and the seemingly paradoxical divorce between public trust and the diminished respect for fundamental human rights. Based on this examination, this chapter also proposes elements that any global treaty for future pandemic response must include in order to ensure the protection of human rights.
Details
Keywords
Hanvedes Daovisan, Sayamol Charoenratana and Motoki Akitsu
Transnational migration is a key challenge in migrant-sending and host-receiving countries. However, relatively little is known about how migrants use network capital to foster…
Abstract
Purpose
Transnational migration is a key challenge in migrant-sending and host-receiving countries. However, relatively little is known about how migrants use network capital to foster small and medium-sized enterprises (SMEs) in the ASEAN Economic Community (AEC). Therefore, the purpose of this study is to explore how network capital fosters Laotian migrant workers in Thai family SMEs.
Design/methodology/approach
This research was conducted using qualitative network analysis (QNA). Referral snowball sampling was used to draw 20 participants from December 2021 to March 2022. Data analysis was performed using Gephi, a software package developed for QNA (coding, network features, measure nodes and network metrics).
Findings
The main findings are the following four emerging themes: chain networks, social networks, human networks and financial networks are associated with network capital for fostering Laotian migrant workers in Thai family SMEs.
Originality/value
To the best of the authors’ knowledge, this study is the first QNA to explore how Laotian migrant workers use network capital in Thai family SMEs.
Details
Keywords
This paper explores the issue of developing and enhancing intra-ASEAN international student mobility given the context of ASEAN integration, regionalization of ASEAN higher…
Abstract
Purpose
This paper explores the issue of developing and enhancing intra-ASEAN international student mobility given the context of ASEAN integration, regionalization of ASEAN higher education and the various intra‐ASEAN student mobility schemes currently implemented.
Design/methodology/approach
It explores higher education policies, available higher education and international student mobility data, as well as the various intra‐ASEAN (and relevant) student mobility schemes to present the current status of intra‐ASEAN student mobility, challenges and opportunities to further enhance student mobility within the ASEAN region.
Findings
Aside from showing that intra‐ASEAN student mobility is significantly low compared to outbound student mobility from ASEAN countries, the paper also highlights the relationship between a country’s income status with choice of intra‐ASEAN or extraASEAN student mobility. Finally, it recommends developing a comprehensive intra‐ASEAN mobility scheme taking the merits of the various intra‐ASEAN mobility schemes currently implemented and guided by developments in the European ERASMUS mobility programs.
Originality/value
This is probably the first (in fact, it is an exploratory) paper that address the issue of intra‐ASEAN international student mobility, which aims to explore relevant issues to address the development of a comprehensive ASEAN mobility scheme.
Details
Keywords
Ariva Sugandi Permana, Sholihin As’ad and Chantamon Potipituk
The zero-waste term in municipal solid waste management has been the utopian objective of every waste management authority in the cities in developing countries, even though it…
Abstract
The zero-waste term in municipal solid waste management has been the utopian objective of every waste management authority in the cities in developing countries, even though it comes with different perceptions, which are sometimes misguided. People can produce no waste unless they live with no consumption. The zero-waste term does not mean that we produce no waste, rather we dump no waste at the landfill site. It means we dispose of nothing at a landfill site since the issue of landfill site can be a culprit of waste management, for its reiterating city land demands that generate “headaches” to city authority because of NIMBYism (Not In My Back Yard issue). No one accepts living voluntarily next to a landfill site as it creates more harm than harmless. With zero waste at the landfill site in mind, the waste management authority attempts to deal with the complexity of municipal solid waste management, by reviving each element of the waste management stakeholders to concertedly move on to deal with waste. Individual households and communities, without which waste management will not be successful, were positioned as the main thrust of waste management. A multipronged approach was implemented with all stakeholders, i.e., lawmakers, regulators, waste producers, implementers, and pressure groups, appearing with different functions but a common point: zero waste at the landfill site. A stakeholder with a large capacity, i.e., local government focuses on creating a large project that has a large impact on overall waste management; private sectors may contribute to establishing recycling centers, and waste-to-energy projects. Meanwhile, the individual households, which are large in number but have a small capacity, establish community-based activities, i.e., waste banks. This chapter attempts to provide the overall picture of municipal solid waste management in 14 cities in developing countries toward their goal of zero waste at landfill sites.
Details
Keywords
According to a debt sustainability analysis published by the IMF in May, Laos is in debt distress. Years of rapid growth in borrowing to fund infrastructure development…