Individual Asian Countries Research Articles

COMPARATIVE ANALYSIS OF SMART ECONOMY DEVELOPMENT IN SELECTED COUNTRIES OF SOUTHEAST ASIA

Research subject. The development of the global economy indicates the formation of a new trend in the formation of the smart economy, which currently covers both developed and developing countries. According to the analysis, developed countries are leaders in economic development precisely because of the development of technologies that are the basis for the formation of the smart economy and the smart intellectualisation of economic activity. The smart economy in Asia is actively developing due to the intensive introduction of the latest technologies, innovative management approaches, and increased resource efficiency. Asian countries such as China, Japan, South Korea, Singapore, and India are leaders in the development of the smart economy. At the same time, Asian countries have been demonstrating one of the highest rates of economic development since the beginning of the XXI century, which is primarily due to the active technologisation of production and the spread of communication technologies in all areas of economic activity. Several technology centres are emerging in Asia, concentrating technology companies and creating a favourable environment for the development of the smart economy. Methodology. The article conducts a comparative analysis of the factors contributing to the development of the smart economy in individual Asian countries, identifies the most influential factors and the degree of their impact on each country. The purpose of this study is to identify the factors influencing the development of the smart economy and compare their impact in the economies of China, India and Singapore. To achieve this goal, the following research objectives are envisaged: to identify factors that have a significant impact on the development of the smart economy in different countries; to assess the impact of individual factors on the development of the smart economy in China, India and Singapore; to compare the impact of individual factors of the smart economy on the economies of these countries; and to assess the models of smart economy development in China, India and Singapore. Conclusion. The smart economy in Asia is characterised by unique features that reflect the cultural, technological and economic conditions of the region. The key features of the Asian smart economy include a high level of digitisation and technological integration, active development of smart cities, financial technologies (FinTech), a focus on automation and robotics, innovation hubs and support for start-ups, environmental sustainability and green energy, and the digitalisation of governance and public services. Asian countries are also distinguished by the integration of smart technologies into the everyday life of citizens and the support of innovation ecosystems at the state level.

Deployment expectations of multi-gigatonne scale carbon removal could have adverse impacts on Asia’s energy-water-land nexus

Existing studies indicate that future global carbon dioxide (CO2) removal (CDR) efforts could largely be concentrated in Asia. However, there is limited understanding of how individual Asian countries and regions will respond to varying and uncertain scales of future CDR concerning their energy-land-water system. We address this gap by modeling various levels of CDR-reliant pathways under climate change ambitions in Asia. We find that high CDR reliance leads to residual fossil fuel and industry emissions of about 8 Gigatonnes CO2yr−1 (GtCO2yr−1) by 2050, compared to less than 1 GtCO2yr−1 under moderate-to-low CDR reliance. Moreover, expectations of multi-gigatonne CDR could delay the achievement of domestic net zero CO2 emissions for several Asian countries and regions, and lead to higher land allocation and fertilizer demand for bioenergy crop cultivation. Here, we show that Asian countries and regions should prioritize emission reduction strategies while capitalizing on the advantages of carbon removal when it is most viable.

Negotiating over the rules of origin in regional trade agreements in Asia

AbstractIn regional trade agreements (RTAs), member countries choose a common rule of origin (RoO) for each product. This study examines the factors that influence RoOs in four ASEAN‐plus‐one RTAs, which are agreements between ASEAN and four individual countries. One unique feature is that ASEAN as a whole negotiates with a plus‐one country, which may dilute the interests of individual ASEAN countries at large. Our findings are summarised as follows. First, the more restrictive RoOs are set in the products where plus‐one countries are less competitive against most ASEAN countries. Second, the more restrictive RoOs are likely to be imposed in products that plus‐one countries protect with higher most favoured nation tariffs. These two results reflect the bargaining power among a plus‐on country and ASEAN countries and indicate that plus‐one's preference influences RoOs more strongly. Third, we find contrasting results between intermediate and final products. RoOs are likely to be less restrictive in intermediate products and more restrictive in final products when plus‐one countries have higher export competitiveness or when the majority of ASEAN countries have higher MFN tariffs.

CURRENT STATE AND PROSPECTS FOR EXPANDING THE EXPORT OF DOMESTIC INDUSTRIAL PRODUCTS TO RAPIDLY DEVELOPING COUNTRIES OF ASIA

The article analyzes the current state and prospects of development of exports of domestic industrial products to the rapidly developing countries of Asia, in particular to Indonesia, Thailand, Bangladesh and the Philippines. It is shown that today Ukraine is a full-fledged participant in the globalization process, and its further development will largely depend on the priorities of its foreign economic integration policy, the formation and implementation of which should be based on building strategic relations with both individual Asian countries and various regional associations. It is substantiated that the need to intensify Ukraine’s cooperation with Asian countries is caused not only by the global transformation in the balance of power of the world economy, but also by the need for export diversification of foreign trade in the context of Russian aggression. The analysis shows that by 2022, the demand for domestic industrial products in the markets of Indonesia and Thailand had positive dynamics and ensured, albeit not a significant increase in the export of Ukrainian high-tech goods. Despite the positive trade balance, demand for domestic industrial products in the markets of Bangladesh and the Philippines was characterized by a gradual decline until 2022. In general, the share of domestic industrial products in the structure of exports to these countries is quite low: Indonesia - 0.7%, Thailand - 3.0%, Bangladesh - 4.3%, and the Philippines - 9.9%. At the same time, the share of industrial products from these countries in the structure of Ukrainian imports was much higher, in particular: Indonesia - 20.0%, Thailand - 82.1%, Bangladesh - 96.8%, and the Philippines - 92.4%. Due to the large-scale invasion of Ukraine by Russia, the article estimates the losses in foreign trade between Ukraine and rapidly developing Asian countries in 2022. In particular, it is shown that the volume of foreign trade turnover between Ukraine and Indonesia will decrease by 39.2% compared to 2021, Thailand - by 35.3%, Bangladesh - by 48.6%, and the Philippines - by 38.6%. Based on the analysis of scientific and statistical literature, it is established that the determining instrument of trade policy of the rapidly developing Asian countries is customs tariffs, various preferential regimes and benefits for industrial products in accordance with various bilateral and regional trade agreements. In order to further develop partnership relations between Ukraine and the rapidly developing countries of Asia, it is proposed to intensify and strengthen the dialogue on deepening trade and economic cooperation through the system of trade policy instruments. In terms of further research, additional studies are proposed to determine the prospects for concluding bilateral trade agreements on FTAs between individual countries and developing a long-term strategy for trade and economic cooperation.

Аналіз зовнішньоторговельних відносин України з країнами Азії

The aim of the article is to analyze Ukraine’s foreign trade relations with Asian countries and identify the main trends, challenges and prospects for their cooperation. The article considers the main features of the Asian region in the economic sphere and finds that it is characterized by a high concentration of resource potential, dynamic economic development, active trade and regional economic cooperation. The general dynamics of Ukraine’s foreign trade with Asian countries during 2013–2022 is presented, as well as its distribution by region in 2022. A detailed analysis of Ukraine’s export-import operations in the context of individual Asian countries is carried out. The key trading partners of Ukraine in the region, which include Turkey, China and India, have been identified. The main documents regulating Ukraine’s foreign economic activity with these countries are considered, such as the Free Trade Agreement between Ukraine and Turkey (ratification postponed), Agreement between the Government of Ukraine and the Government of the People’s Republic of China on Trade and Economic Cooperation and a similar Agreement between the Government of Ukraine and the Government of the Republic of India. The main features and key trends that determine the dynamics of the development of trade relations with these countries are analyzed in detail. Their commodity structure of foreign trade with Ukraine has been analyzed and it has been found that the basis of Ukrainian exports to the Asian region is agricultural products, namely: vegetable oils and fats, wheat, corn and animal feed. Other promising trading partners of Ukraine, namely, Japan and South Korea, are also allocated. It is proved that for the balanced development of foreign trade relations with other countries and ensuring the sustainability of the economy in the context of global competition, Ukraine needs to maintain flexibility and adapt to new geopolitical and economic conditions, diversify the commodity structure of exports, as well as conclude new trade agreements.

Government failures and non-performing loans in Asian countries

PurposeNon-performing loans (NPLs) may determine an overall weakness of the banking system within a country. The purpose of the present study is to analyze the impact of government failures on NPLs in Asian countries in the time span 2000–2020. The variables employed as proxies of government failures are public debt as % of gross domestic product (GDP) and a government ineffectiveness index proposed by the World Bank.Design/methodology/approachThe econometric approach employed is a panel generalised time series (GLS) model with heteroskedasticity and autocorrelation specific to each panel.FindingsThe results confirm that public debt as % of GDP and governmental ineffectiveness impacted significantly on NPLs for Asian countries in the observed period.Originality/valueThe literature offers similar results only for some individual Asian countries, while a wider analysis is lacking for Asian macroareas. The present paper considers 31 Asian countries, and supports the idea that a healthy financial sector is correlated to institutional quality and political regime. Hence, policy makers are advised to monitor governance indicators to reduce NPLs.

Climate Change and Sustainability in ASEAN Countries

The ASEAN region is one of the most susceptible regions to climate change, with three of its countries—Myanmar, the Philippines, and Thailand—among those that have suffered the greatest fatalities and economic losses because of climate-related disasters. This paper reveals that the ASEAN’s environmental performance is sorely lagging other regions despite evidence of its cohesive and comprehensive efforts to mitigate emissions and build up adaptive capacity to climate-related disasters. Within the ASEAN, there exist gaps in environmental performance between each country. This suggests that increased cooperation between individual ASEAN countries is pertinent for the region to collectively combat climate change. In addition, we show that government effectiveness has a positive influence on a country’s climate performance, signifying that a government’s strong commitment to governance is necessary in the fight against climate change.

Priorities for Sustainable Urban Development as Exemplified by Individual Asian Countries

Studies have shown that comparison of strategies for sustainable cities in Asian countries is carried out through the prism of the international concept of sustainable development. The work builds a complex relationship between general and specific criteria for sustainable development of the urban environment in the strategies of individual Asian countries. Priority is given to management, socio-economic development, and environmental protection. Sustainable urban development guidelines are shown considering problems of poverty, environmental pressures, and drawing attention to environmental problems in cities. The particular countries (Bhutan, Myanmar and Cambodia) show guidelines for sustainable urban development, considering urbanization and population flows, the vulnerability of major population groups and addressing poverty and pressure on the environment. Analyzing the Sustainable Development Goals and internal strategies of Asian countries, the authors sought to determine the goals and objectives of creating sustainable cities, features of sustainable cities’ strategies in individual Asian countries and typical problems that arise on the path to sustainable urban development. The hypothesis of the study is the approach to sustainable cities through the prism of the concept of sustainable development with its socioenvironmental and economic components in their relationship and interdependence.

“New Protectionism” in ASEAN

ABSTRACTThe 21st century suggests a somewhat vexing scenario of “new protectionism”, especially with the rise of protectionist non-tariff measures or NTMs. This largely refers to standard-like NTMs (sanitary and phytosanitary measures and technical barriers to trade, known as SPS and TBTs respectively) with a dual purpose of non-trade policy objectives and (hidden/concealed) protectionism. Since ASEAN is a high user of standard-like NTMs relative to other measures, this begs the question if there is an intentional shift toward murky protectionism in the region. Grounded on a few criterion to establish potential protectionism, the paper forwards the plausibility of “hidden” barriers in the standard-like NTMs drawing upon related secondary data, and specific illustrative cases of harmful and burdensome NTMs in the individual ASEAN countries. From the narrative experiences of ASEAN, it is inferred that procedural obstacles, directly associated with a reported standard-like NTMs, instead of the NTM itself, account for the “hidden” barriers in ASEAN. The paper concludes that irrespective of the motivation for protectionist NTMs, whether unintentional or intentional, procedural obstacles deserve attention in their own right. Regulatory reform for the standard-like NTMs is therefore needed at the national-level of the AMS to get rid of those “hidden” barriers.

Affluent countries inflict inequitable mortality and economic loss on Asia via PM2.5 emissions

This research sets out to quantify the mortality and economic loss in individual Asian countries caused by the PM2.5 emissions induced by the consumption of the world’s five highest-consuming countries (US, China, Japan, Germany, UK). In 2010 alone, the economic impact of these five countries’ consumption caused a loss of almost 45 billion US dollars due to the premature deaths of more than 1 million people in Asia, including 15 thousand children younger than 5 years old. The percentage ratio of economic loss to value-added driven by consumers via trade differed greatly among the impacted countries. For the US, the highest percentage loss was 4.1% in Laos, followed by 2.0% in Bangladesh, both markedly higher than the figures for the more developed countries, such as 0.21% for Japan and 0.18% for Korea. This reflects the inequitable value chain existing between consumer countries and impacted countries, and implies that developing countries are obtaining value-added in exchange for unintentionally increased health risks, delaying their development and potentially creating a vicious circle that hinders much-needed improvements in areas like poverty reduction and public health. This inequitable situation needs to be redressed through introduction of clean energy and other types of technological assistance to help achieve United Nations Sustainable Development Goals 7, 10 and 13. Such as move is essential if premature infant deaths are to be curtailed.

Good global citizen? ASEAN’s image building in the United Nations

ABSTRACTBased on role theory, the article examines the images that ASEAN member governments project of their organization. It rests on a discourse analysis of 198 speeches in the United Nations General Assembly between 1998 and 2017. Findings suggest that ASEAN does not figure as a top priority for delegates and that an overarching ASEAN role conception is missing. However, their addresses reveal parameters on which a collective role conception can be built. Individual ASEAN countries undertake great efforts to project themselves as ‘good global citizens,’ a role conception that could also be applied to ASEAN.

Assessing Teacher’s Attitude, Knowledge, and Application (AKA) on STEM: An Effort to Foster the Sustainable Development of STEM Education

This study focuses on assessing the growth of the latest developments of science, technology, engineering, and mathematics (STEM) as part of an effort to maintain the progress of STEM education. Assessment is necessary for every educational activity, including in the field of STEM education. However, there are limited comprehensive reports on the progress and development of STEM education inside individual Asian countries. An attempt to bring up the sustainable development of STEM education is conducted by using an exhaustive assessment. The assessment, within this study, includes three domains, namely attitudes, knowledge, and applications (AKA) regarding STEM education. The comparison of these three domains based on demographic data, teachers’ difficulties perception, and its contribution to the sustainable development of STEM education is, likewise, discussed. This type of research is a mix of both qualitative and quantitative research methodology. The quantitative analysis method was performed to address the level position and the comparative value of the three domains. In comparison, the qualitative analysis method was employed to strengthen the quantitative result analysis, as well as to deal with the teachers’ perception. Results show that science teachers have a very good attitude, a moderate-level category in the application, and a low-level category in knowledge regarding STEM education. Further, there are differences in knowledge and the application of STEM education, based on educational background and teaching experience of the teachers, yet there are no differences regarding teachers’ attitudes. Other components are discussed in detail, such as the teacher’s perception of STEM teaching difficulties. Providing challenges and opportunities for improving the quality of education in the future are discoursed. The results of this study suggest that knowledge and attitudes are fundamental domains for the proper implementation, as well as sustainability, of STEM education (especially in Indonesia).

Purchasing power parity in ASEAN-5 countries: revisit with cross-sectional dependence and structural breaks

ABSTRACTThis paper re-examines the purchasing power parity (PPP) hypothesis for a panel of ASEAN-5 countries. The panel unit root and cointegration tests, which incorporate cross-sectional dependence and multiple structural breaks, are innovatively used for testing the PPP hypothesis. We could not find evidence that supports the existence of a long-run equilibrium between the relative price ratio and the nominal exchange rate for the whole period. Nevertheless, there is evidence of a cointegrating relationship for the post-crisis period. Our finding implies that a flexible exchange rate regime is suitable for the individual ASEAN countries.

Applying a common data model to Asian databases for multinational pharmacoepidemiologic studies: opportunities and challenges.

ObjectiveThe goal of the Asian Pharmacoepidemiology Network is to study the effectiveness and safety of medications commonly used in Asia using databases from individual Asian countries. An efficient infrastructure to support multinational pharmacoepidemiologic studies is critical to this effort.Study design and settingWe converted data from the Japan Medical Data Center database, Taiwan’s National Health Insurance Research Database, Hong Kong’s Clinical Data Analysis and Reporting System, South Korea’s Ajou University School of Medicine database, and the US Medicare 5% sample to the Observational Medical Outcome Partnership common data model (CDM).ResultsWe completed and documented the process for the CDM conversion. The coordinating center and participating sites reviewed the documents and refined the conversions based on the comments. The time required to convert data to the CDM varied widely across sites and included conversion to standard terminology codes and refinements of the conversion based on reviews. We mapped 97.2%, 86.7%, 92.6%, and 80.1% of domestic drug codes from the USA, Taiwan, Hong Kong, and Korea to RxNorm, respectively. The mapping rate from Japanese domestic drug codes to RxNorm (70.7%) was lower than from other countries, and we mapped remaining unmapped drugs to Anatomical Therapeutic Chemical Classification System codes. Because the native databases used international procedure coding systems for which mapping tables have been established, we were able to map >90% of diagnosis and procedure codes to standard terminology codes.ConclusionThe CDM established the foundation and reinforced collaboration for multinational pharmacoepidemiologic studies in Asia. Mapping of terminology codes was the greatest challenge, because of differences in health systems, cultures, and coding systems.

New perspectives on bank risk in Malaysia

AbstractStable banks in individual ASEAN countries are essential to the economic stability of the ASEAN region as these countries move towards the goal of greater financial integration in the region. This study comprehensively explores bank risk in Malaysia as compared to the ASEAN region over an 18-year period which includes the Asian and Global Financial Crises. Metrics used include non-performing loans (NPLs), conditional distance to default (CDD which focuses on tail risk of asset volatility and is the authors own measure of bank default based on an extension to the Merton distance to default (DD) model) and a tail risk (TR) measure being the difference between DD and CDD asset volatility. DD is usually applied to corporate customers of banks but has been applied in the literature to banks themselves, which is the approach used for CDD in this study. Multiple regression analysis is undertaken to assess the impact of CDD on returns. The regression and default results are compared between small and larg...

The EU-Singapore Free Trade Agreement: A Landmark Deal?

In 2006, the Commission published its Global Europe Communication and marked a change from a multilateral to a bilateral trade strategy. Part of the agenda of this new strategy was to strengthen the bilateral trade relations with key Asian states. Initially, the objective was to conclude a region- to-region agreement with ASEAN, which unfortunately did not succeed. Following the suspension of talks, the Council in December 2009 gave the green light to initiate bilateral FTA negotiations with individual ASEAN countries, whilst preserving the strategic objective of a regional FTA. Negotiations for an FTA between the EU and Singapore were launched in 2010 and completed in October 2014. It is the EU’s first FTA with an ASEAN Member State and the second one with a major Asian trading partner. Thus, this agreement paves the way for future FTAs with countries in the region. In the meantime, new negotiations were opened with five other ASEAN states. This paper uses an adapted version of Robert Putnam’s two-level game theory. The approach analyses crucial interactions occurring during a negotiation between the international (Level I) and domestic level (Level II). The EU increases the complexity of these entanglements, since the Level II is composed of a second two-level game between the EU institutions and the Member States (Level III), transforming Putnam’s theory into a three-level games approach. The convergence of the different interests at each level form the “win-set” within which any agreement reached at Level I will be acceptable for Level II and III constituencies. This essay examines the motivations and interests at stake in the negotiations of the EUSFTA including the win-sets of each partner (II.), the ratification process and thereto current deadlock (III.). The final objective is to figure out to which extent the EUSFTA is a model for new FTAs with ASEAN countries, with ASEAN itself and how it may shape the whole European Common Commercial Policy.

Trade Interactions of China-Latin America Vis-À-Vis Asean-Latin America: The Relevance of the Center-Periphery Relations?

This paper compares the role of relative factor endowment differences in driving bilateral trade flows between China and six selected ASEAN economies with Latin America. The findings reveal that relative factor endowment differences are consistently positive and significant for increasing export flows between China and Latin America, suggesting that complementary comparative advantages are developing along the lines of center-periphery relations. Contrary to China-Latin America, specific individual ASEAN countries trade in manufactures with Latin America offer prospects for trade specialization beyond the traditional view of comparative advantages, which is based on similarities in factor endowments. Taken together, these findings suggest that the ASEAN region can plausibly be a game changer to the existing patterns of interregional Asia-Latin America relationship, namely that of China-Latin America, by capitalizing on intra-industry trade flows with their Latin American counterparts.

Inflammatory bowel disease in Asia

See article in J. Gastroenterol. Hepatol. 2010; 25: 453–468

ASEAN and Political Change in Myanmar: Towards a Regional Initiative?

ASEAN states have favoured diplomacy and peer pressure in order to sway Myanmar's military regime to release Daw Aung San Suu Kyi and other political detainees and to promote national reconciliation. So far, ASEAN's combined efforts have not been very successful, although the generals are moving Myanmar beyond extra- constitutional rule. This paper asks whether, in the aftermath of the September 2007 protests, the constitutional referendum and Cyclone Nargis, there is much scope for a new regional effort to promote reconciliation and democratization in Myanmar that is additional to the support ASEAN offers for the good offices of the United Nations Secretary General. The paper sets out different positions held within ASEAN on promoting political change in Myanmar. It also examines the prospects for putting into practice recent ideas to address Myanmar's political situation in new regional settings. The paper concludes that: (1) significant difference characterize the Myanmar policy of individual ASEAN countries in line with varying interests and pressures, and dissimilar views on what — if anything — should be done to help Myanmar democratize; (2) Indonesia is the only ASEAN country to have conceptualized a possible regional diplomatic initiative, but its full implementation and success are far from certain.

Introductory Overview: Revisiting Trade Policies in Southeast Asia

Trade policy is clearly back on the radar screen in Southeast Asia, having been overshadowed by monetary and financial matters in the aftermath of the Asian crisis. The New Regionalism--the proliferation of free trade agreement (FTA) initiatives--has occupied centre stage since 1999/2000. Singapore blazed the trail, and other ASEAN members, notably Thailand, have been catching up. FTA initiatives have become equally popular in Northeast and South Asia, Australasia, and beyond. New FTAs concluded so far in the region have been mostly bilateral, involving individual ASEAN countries and partners outside the region. They have been supplemented by plurilateral, big-block FTA initiatives, involving ASEAN collectively and others (China, India, Japan, Australia, New Zealand). In all, about forty FTAs have been negotiated or are under discussion in the Asia-Pacific since 1999. There is talk of an East Asian Economic Community bringing together ASEAN, China, Japan, and Korea, and even of an Asian Economic Community that would subsume South Asia too. Not too long ago, China acceded to the World Trade Organization (WTO) in 2001, crowning the most sweeping set of market-oriented reforms, including the biggest dose of trade and investment liberalization, the world has ever seen. Arguably, China's WTO accession, with very strong commitments that go far beyond those of other developing countries, is the symbol of the liberalization wave worldwide over the past quarter century, and of modern economic globalization more generally. It is also a marker for the way in which China is reshaping economic activity and policy in East and Southeast Asia. India, too, is integrating faster into the world economy, though not nearly as fast or as dramatically as China. The global integration of these two big developing countries is probably the lead trend in economic globalization today and for some time to come. It has powerful, not-to-be underestimated implications for trade and wider economic policies in Southeast Asia. Turning to multilateral matters, the WTO, after the crippling failure of the Seattle Ministerial Conference in 1999, witnessed the launch of a new round of multilateral trade negotiations in Doha at the end of 2001. The round came to a halt with the collapse of the Cancun Ministerial Conference in 2003; but it was revived, with a new negotiating framework put in place by July 2004. Nevertheless, grave doubts about the future of the WTO and of the multilateral trading system persist--a major factor in turning to FTAs in Southeast Asia and elsewhere. Finally, ASEAN itself has hardly been short of initiatives to deepen its own economic integration. The tariff reduction timetable for the ASEAN Free Trade Area (AFTA) has been advanced and a new agreement announced to achieve an ASEAN Economic Community (AEC) by 2020. However, grand visions belie the reality on the ground, with at best modest results in bringing down intra-regional trade barriers. …