Selected Asian Countries Research Articles

Financial Inclusion and Financial Development Determine Human Development in Selected Asian Countries

The research highlights the crucial role of accessible financial services and robust financial systems in enhancing human development outcomes, offering valuable insights for policy-makers aiming to foster inclusive economic growth. This research makes an effort to highlight that financial inclusion and financial development with other major factors determine human development in some selected Asian economies. The authors make use of panel data from 8 Asian nations for the year 2005 to 2018. The dependent variable is the human development index. However, financial inclusion, financial development, urban population, and general government final consumption expenditure are taken as explanatory factors in this analysis. Fixed effect results show that financial inclusion with financial development, urban population, and general government final consumption expenditures have enhanced the human development of Asian countries. The study findings recommend for maximum financial approach and financial amenities in improving the human development of nations. There is a dire need for more improved quality of education for high living standards and development.

Fiscal Prudence and Economic Growth in Asia: the role of Efficient Public Spending

The present research is an attempt to study the role of public sector efficiencies in determining optimal fiscal size of the governments for selected Asian countries. Studying efficiency of public spending is important because efficient government spending leads to improved provision of public services like health, education, infrastructure, and welfare initiatives. Improving public sector efficiency will help to promote transparency and accountability which reduces the chances of corruption and wastage of scarce public resources. Using the panel data for 19 developing countries for years 1996-2022, efficiency augmented optimal size of government expenditures is calculated. Pooled Mean Group technique is employed to calculate the impact of efficiency on growth maximizing levels of government total spending, government consumption spending and government investment spending. Results establish strong impact of efficiency in public expenditures on optimal fiscal size. Other variables enhancing economic growth include capital stock and trade openness, while human capital has negative effects. Public sector efficiencies are found to reduce growth maximizing size of government spending. The optimal size of government total expenditure is estimated to be 25.19 %, while optimal fiscal size for government consumption expenditure and government investment expenditure are 14.04%, and 11.18 % respectively for developing Asian countries.

The Role of Relationship between Money Supply and Exports in the Context of Economic Development through Increasing the Resilience of Foreign Exchange Reserves: Evidence from Selected Asian Countries

The importance of building foreign exchange reserve performance is the main requirement in safeguarding the economy in the global order from potential risks and threats originating from the external sector. This has become an important discussion in recent times, but several previous studies have not answered the urgency in building sustainable economic resilience, especially in countries that have economic experience with economic shocks caused by potential risks originating from the external sector. Ordinary-Least Square (OLS) analysis chosen to prove impact of financial stability and international trade on the growth and resilience of foreign exchange reserves as external liquidity for several countries in Asia during 1990 – 2020. The results of this research show that in the long term, both the money supply variable and exports as an independent variable have a positive and significant influence in increasing the resilience of the external liquidity performance of selected Southeast Asian countries. Our policy recommendations emphasize the importance of maintaining the resilience of foreign exchange reserves as external liquidity in order to increase economic resilience in the global economic arena. The government should provide the main focus in increasing policies by increasing the role of the external sector itself through international cooperation.

Is Green Always Beneficial? Assessing the True Impact of Greenfield Investments on Green Economy---Evidence from Selected Asean Countries

Is Green Always Beneficial? Assessing the True Impact of Greenfield Investments on Green Economy---Evidence from Selected Asean Countries

The Role of Green Technological Innovation, Fintech, and Financial Development in Environmental Sustainability: A Study on Selected Asian Countries

This study intends to explore the nexus of green technological innovations, financial development, and Fintech with environmental sustainability. It employs data from Asian economies spanning from 2012 to 2021. We intend to examine the impact of green innovations, Fintech, and financial development (measured through access to financial institutions and efficiency of financial markets) on Environmental Sustainability (measured through carbon emissions). After addressing the issues of slope heterogeneity, cointegration, and CSD, this study employs the CS-ARDL model to explore the connectedness between proposed variables. We find that Fintech and the efficiency of financial markets enhance carbon emissions, thus deteriorating environmental sustainability. On the other hand, access to financial institutions and green technological innovations improves ecological sustainability. The findings are essential for Asian economies and policymakers to attain better environmental quality.

The role of financial inclusion, technology innovation, energy and environmental degradation in determining sustainable growth in Asia

AbstractSustainable growth is a top priority for all economies as they work towards creating a prosperous and resilient future for current and future generations. This study empirically explores the important role of financial inclusion (FI), energy consumption, technological (TECH) innovation and environmental degradation in the economic growth of 13 selected developing Asian countries from 2000 to 2021. The feasible generalized least squares method is used for empirical examinations due to the nature of the data. The study focuses on three dimensions of FI: penetration, usage and availability of financial institutions. The results show that FI, energy consumption and TECH innovation encourage economic growth, whereas ecological footprint discourages economic growth in selected Asian countries. The empirical findings highlight the importance of promoting sustainable growth in Asia through enhanced FI, TECH innovation, sustainable energy practices and environmental conservation. Governments in these countries should prioritize strengthening the financial sector, investing in research and development and implementing effective policies to ensure a clean and green environment. This will lead to inclusive and environmentally responsible development that benefits both current and future generations in the region.

Thriving or Declining? Unraveling Corruption, Environmental Quality, Energy Consumption, and Economic Growth in ASEAN Countries

The current study is carried out to explore the link between Corruption,Environment quality. Energy consumption and economic growth in selectedAsean countries. In addition to that, the present study aims to highlight thedirect impacts of corruption upon environmental degradation, energyconsumption, and economic progress. For this purpose, the analyticalframework has been particularly used. Theoretically, environmental quality isexpected to be directly influenced by corruption using taxation andregulations, while corruption affects economic growth which in turn affectsthe quality of environment. Therefore, economic growth is negativelyinfluenced by the levels of corruptions. The higher the levels of corruption thelower will be the GDP level of an economy. This lower GDP level theninfluences the environmental quality, and thus confirms the EKC hypothesis.This paper has employed cointegration model for analyzing the associationbetween environmental quality, energy consumption, corruption, andeconomic growth for the data involving 5 ASEAN countries i.e. Malaysia,Thailand, Singapore, Philippines, and Indonesia for the years 1960-2021. Theliterature review has shown no empirical study that have employedcointegration model for examining the effects of corruption on energyconsumption, environmental quality, and economic growth. The findings ofthe study are in line with the proposed hypothesis. The study which is amongthe pioneering studies will be helpful for policymakers and researchers.

A Comparative Legal Analysis on Personal Data Protection Laws in Selected ASEAN Countries

A Comparative Legal Analysis on Personal Data Protection Laws in Selected ASEAN Countries

Examining the Impact of E-Government Development Index (EGDI) and Worldwide Governance Indicators (WGI): A Comparative Study of Thailand and The Six Selected ASEAN Countries

The purpose of this research is to analyze how the comparison between Thailand and the six selected ASEAN countries in this study, namely Singapore, Brunei Darussalam, Malaysia, Thailand, Indonesia, and the Philippines. This study will analyze the data further using Google Data Studio which is correlated between two indicators, namely the World Governance Indicator (WGI) and the E-Government Development Index (EGDI). Based on the six indicators of the World Governance Indicator (WGI), it can be concluded that on the Voice and Accountability indicator, Thailand scored 82.53 because the freedom of expression in Thailand is still not completely free. On the indicator of Political Stability and Absence of Violence/Terrorism Thailand itself experienced several acts of terror in its country. In the Government Effectiveness indicator, Thailand's Government has implemented good regulatory practices and is committed to improving the quality of regulations. On the Regulatory Quality indicator, Thailand has been working to accelerate reforms for three years to set a solid foundation for sustainable regulatory policy intervention.

Dynamics of Indonesian stock market interconnection: Insights from selected ASEAN countries and global players during and after the COVID-19 pandemic

This study investigates the evolving dynamics of the Indonesian stock market in relation to selected ASEAN countries (Malaysia, Singapore, Thailand, and the Philippines) and global economic players (the US, Japan, and China) during and after the COVID-19 pandemic. Utilizing weekly data for the pandemic era (January 2020 – December 2021) and the post-pandemic period (January 2022 – December 2023), the ARDL technique reveals intricate relationships among these capital markets. Long-term analyses indicate that Singapore and the Philippines positively influenced Indonesia’s market during the pandemic. At the same time, China had a negative impact, highlighting heightened sensitivity and interconnectedness during crises. Since the pandemic, Malaysia, Singapore, the US, China, and Japan emerged as key positive influencers, with other countries showing insignificance. In the short term, during the pandemic, Malaysia, Thailand, and China had a significant positive impact on Indonesia’s capital market. However, only Malaysia continued to exert a significant influence on Indonesia after the pandemic. These findings provide valuable insights into the dynamic interactions shaping Indonesia’s stock market performance amidst global economic fluctuations and crises.

Thriving or Declining? Unraveling Corruption, Environmental Quality, Energy Consumption, and Economic Growth in ASEAN Countries

The current study is carried out to explore the link between Corruption, Environment quality. Energy consumption and economic growth in selected Asean countries. In addition to that, the present study aims to highlight the direct impacts of corruption upon environmental degradation, energy consumption, and economic progress. For this purpose, the analytical framework has been particularly used. Theoretically, environmental quality is expected to be directly influenced by corruption using taxation and regulations, while corruption affects economic growth which in turn affects the quality of environment. Therefore, economic growth is negatively influenced by the levels of corruptions. The higher the levels of corruption the lower will be the GDP level of an economy. This lower GDP level then influences the environmental quality, and thus confirms the EKC hypothesis. This paper has employed cointegration model for analyzing the association between environmental quality, energy consumption, corruption, and economic growth for the data involving 5 ASEAN countries i.e. Malaysia, Thailand, Singapore, Philippines, and Indonesia for the years 1960-2021. The literature review has shown no empirical study that have employed cointegration model for examining the effects of corruption on energy consumption, environmental quality, and economic growth. The findings of the study are in line with the proposed hypothesis. The study which is among the pioneering studies will be helpful for policymakers and researchers.

Dependence and sustainability: a disaggregated analysis of electricity generation in ASEAN countries

PurposeThis study aims to explore the diverse sources of electricity generation (coal, natural gas, oil and hydroelectricity) and their respective associations with economic growth and environmental quality.Design/methodology/approachThis study uses static panel data analysis with a random effects model for six selected ASEAN countries (Indonesia, Malaysia, Filipina, Thailand, Vietnam and Myanmar) from 1994 to 2014.FindingsThis study reveals that economic growth in six selected ASEAN countries is enhanced by electricity generation from all sources, while the contribution of electricity production from hydroelectricity remains the largest and strongest. There is no environmental impact of electricity production from hydroelectric, whereas fossil fuel-based electricity production emits carbon dioxide, with coal sources being the largest contributor, followed by natural gas and oil.Practical implicationsBased on the results, these six ASEAN countries should invest more in hydropower projects, reduce the coal mix in power generation and promote clean coal technology to improve economic efficiency and environmental sustainability.Originality/valueTo the best of the authors’ knowledge, no research has examined the relationship between electricity production, environmental quality and economic growth in Southeast Asian nations. Therefore, the outcome of this study is expected to provide insightful results to supplement the framing and implementation of national and collective regional strategies for sustainable electricity generation in ASEAN countries.

Cancer mortality predictions for 2024 in selected Asian countries and Australia with focus on stomach cancer.

We estimated cancer mortality figures in five major Asian countries and Australia for 2024, focusing on stomach cancer, a leading cause of cancer-related deaths in Eastern Asia. We computed country- and sex-specific annual age-standardized rates (ASRs) for total cancers and the 10 most common cancer sites, using WHO and the United Nations Population Division databases from 1970 to 2021 or the latest available year. We predicted figures for 2024 and estimated the number of avoided cancer deaths in 1994-2024. All cancers combined ASR declined between 2015-2019 and 2024 across considered countries and sexes. In 2024, the lowest predicted male rate is in the Philippines (75.0/100 000) and the highest in Australia (94.2/100 000). The Republic of Korea is predicted to have the lowest female ASR (42.1/100 000) while the Philippines the highest (74.5/100 000). Over the last three decades, 121 300 deaths were estimated to be avoided in Hong Kong SAR, 69 500 in Israel, 1 246 300 in Japan, 653 300 in the Republic of Korea, 303 300 in Australia, and 89 700 among Philippine men. Mortality from stomach cancer has been decreasing since 1970 in all considered countries and both sexes. Significant decreases are at all age groups Male rates remain, however, high in Japan (8.7/100 000) and the Republic of Korea (6.2/100 000). Declining cancer mortality is predicted in the considered countries, notably reducing stomach cancer burden. Stomach cancer, however, remains a major public health issue in East Asia.

Post-Pandemic Challenges of Textile Industry Workers in India: Analysis of Social Security Laws of Select Asian Countries

Abstract The COVID-19 pandemic ensued a challenging period for global health; however, the loss of livelihoods throughout the lockdown also led to a significant economic issue that warranted a reassessment of the existing socio-economic structures. Manufacturing lines were severely impeded, particularly in the Indian textile industry, the second-largest employer and labour-intensive industry. The initial lockdown did not provide manufacturers enough time to prepare for the impending catastrophe, compelling many to shut down their operations. The above circumstances highlighted the lack of resilient social security laws in India. Despite initiatives like the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA), the Employees’ Provident Fund (EPF) scheme and other initiatives like grain distribution to families below the poverty line, lack of economic security came to the forefront. There is a need to have a competent social security legal framework in India to ensure economic stability for all that would fall in line with the noble ideas of the framers of the Constitution as enshrined in the Directive Principles of State Policy, the guiding light for all state action in India. India has not ratified the International Labour Organizations Social Security (Minimum Standards) Convention of 1952. The focal area of the current research would be to look into the sufficiency of the legal framework (International and National) to protect the economic interests of the workers. The authors examine the following: 1. Examine the Code on Social Security, 2020 passed by the Indian legislature interpreting it in light of the COVID-19 pandemic and its effect on textile manufacturing in India along with other steps initiated by the government for the textile industry. 2. Carry out a comparative analysis of the social security laws of other Asian countries (Bangladesh, Vietnam, and China) to carve out best practices that can be adopted in India. 3. Analyse and contrast the statistical data of the four predominant textile manufacturing and exporting economies on selected parameters.

Shaping a greener future: The role of geopolitical risk, renewable energy and financial development on environmental sustainability using the LCC hypothesis

The recent progress report of Sustainable Development Goals (SDG) 2023 highlighted the extreme reactions of environmental degradation. This report also shows that the current efforts for achieving environmental sustainability (SDG 13) are inadequate and a comprehensive policy agenda is needed. However, the present literature has highlighted several determinants of environmental degradation but the influence of geopolitical risk on environmental quality (EQ) is relatively ignored. To fill this research gap and propose a inclusive policy structure for achieving the sustainable development goals. This study is the earliest attempt that delve into the effects o of geopolitical risk (GPR), financial development (FD), and renewable energy consumption (REC) on load capacity factor (LCF) under the framework of load capacity curve (LCC) hypothesis for selected Asian countries during 1990–2020. In this regard, we use several preliminary sensitivity tests to check the features and reliability of the dataset. Similarly, we use panel quantile regression for investigating long-run relationships. The factual results affirm the existence of the LCC hypothesis in selected Asian countries. Our findings also show that geopolitical risk reduces environmental quality whereas financial development and REC increase environmental quality. Drawing from the empirical findings, this study suggests a holistic policy approach for achieving the targets of SDG 13 (climate change).

Comparative Perspectives on the Protection of Food Geographical Indications in Asian Countries

AbstractThe significance of food is beyond its gastronomic value. Food symbolises a community's enriched past and holds cultural expressions and traditional knowledge. The linkage of food with religious beliefs, geo-climatic factors, social standards, and various health benefits builds the reputation of the food, which is essentially attributable to its geographic origin. Following the ratification of the Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS), the contracting states that have enacted Geographical Indications (GI) legislation (particularly those in Asia) have come forward to protect foodstuffs as GI in order to safeguard their communities and their traditional knowledge associated with foodstuffs. Against this background, the present article attempts to compare foodstuff GIs in eight selected Asian countries with a sui generis system of GI protection as TRIPS compliance. The comparative analysis of the evolution and scope of foodstuff protection, pre-registration and post-registration impact, and quality maintenance provides important insights into convergence and divergence among the selected Asian countries. The study further identifies policy implications for the sustenance of GI.

Asia Core Dossier: Standardizing CMC Requirement to Facilitate Best Case Submissions in Asia.

When the regulatory requirements are converged or harmonized, the country-specific variance of countries is often reduced or omitted, and this facilitates the possibility of preparing a core dossier that caters to multiple countries. When such options of a core dossier are acceptable to multiple countries, the resource required to prepare the dossier and the time taken to prepare it is also reduced, thus eliminating resource constraints in supporting dossier planning and preparation and indirectly facilitating earlier submission in countries. In this paper, the authors have illustrated a process applied to standardize the dossier requirements amongst selected countries in Asia, producing an output of a core dossier that applies to four submission types amongst these countries. The core dossier adopts the International Council for Harmonization-Common Technical Dossier format as a reference. Main focus is the standardization of format and requirements within the Module 3 or Chemistry Manufacturing Controls sections of the dossier, which from the authors' organizational experience usually notes a higher variances and country-specific elements. Development of the dossier standardization process is due to an internal hurdle within the authors' organization, where global resource constraints and prioritizations of dossier preparation and compliance review process needed to be improved to facilitate earlier or near-simultaneously submissions in the majority of the Asia countries. The paper demonstrates an assessment of the dossier components and standardization to assemble a fit-for-purpose core dossier termed 'Asia Core Dossier' (ACD). ACD has been successfully implemented within the authors' organization to reduce country-specific requirements and facilitate earlier (fit for strategy) submissions in the selected Asia countries. The paper also discusses the tangible benefits of the authors' experiences from utilizing the ACD. Regulatory professionals in different organizations could reference the ACD as a template for preparing a simplified and efficient dossier and as a relevant component of Good Submission Practice(GSubP).

The Impact of Board Size, Board Diversity, Board Independence, and Board Activity on Integrated Reporting: Evidence from Selected Asean Countries - Indonesia, Malaysia, and the Philippines

The Impact of Board Size, Board Diversity, Board Independence, and Board Activity on Integrated Reporting: Evidence from Selected Asean Countries - Indonesia, Malaysia, and the Philippines

Consideration of Young People's Active Travel in National Urban Policy Documents in Asia: A Documentary Analysis.

Active travel to school faces challenges in urbanized and car-centric Asian regions. The UN-Habitat supports global governments in formulating National Urban Policies (NUPs) for sustainable urban development. This study examined how young people's active travel is discussed in NUP documents in selected Asian countries. Framing analysis using thematic coding was applied to NUP documents from Asian countries. NUP documents were identified via the UN-Habitat's Urban Policy Platform website. A theory-based framework, using both inductive and deductive coding, was employed to identify discussions on key themes related to young people's active travel (active travel, transport, physical activity, young people, and school). A semiquantitative heat map visualized theme patterns coverage (presence; degree of policy-relevant detail discussed). NUP documents from 15 (of 47) Asian countries were retrieved. Transport promotion was acknowledged in 11/15 countries. Discussions on young people's active travel were limited (7/15 featured detailed discussion). Main themes (active travel, physical activity, young people, and school) were treated as secondary considerations, with active travel framed as a utilitarian solution rather than a well-being promoter. Additional contextual considerations (sustainability, natural disaster risk, pollution, and urban congestion) were identified through inductive analysis. NUPs inadequately incorporate active travel, especially in relation to young people. NUPs focus on transport and sustainability while neglecting physical activity, schools, and youth. A more intersectoral approach, tailored to each country's priorities, is necessary for enhanced policy development. Leveraging active travel as a double-duty intervention allows policymakers to tackle health and sustainability challenges along with concerns about traffic congestion and pollution.

Financial Opening under the WTO Agreement in Selected Asian Countries: Progress and Issues

Financial Opening under the WTO Agreement in Selected Asian Countries: Progress and Issues