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Guest editor's introduction 特邀编辑导言
Asia and the Global Economy Pub Date : 2024-07-01 DOI: 10.1016/j.aglobe.2024.100088
Byung-yeon Kim
{"title":"Guest editor's introduction","authors":"Byung-yeon Kim","doi":"10.1016/j.aglobe.2024.100088","DOIUrl":"10.1016/j.aglobe.2024.100088","url":null,"abstract":"","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"4 2","pages":"Article 100088"},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142704987","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The impact of the Global Minimum Tax on Vietnam's foreign direct investment attraction 全球最低税对越南吸引外国直接投资的影响
Asia and the Global Economy Pub Date : 2024-07-01 DOI: 10.1016/j.aglobe.2024.100090
Le Quoc Hoi , Nguyen Thi Hoai Thu , Nguyen Xuan Hung , Phung Tu Uyen , Tran Thu Huong , Trinh Thi Huyen Minh , Hoang Thi Phuong Anh
{"title":"The impact of the Global Minimum Tax on Vietnam's foreign direct investment attraction","authors":"Le Quoc Hoi ,&nbsp;Nguyen Thi Hoai Thu ,&nbsp;Nguyen Xuan Hung ,&nbsp;Phung Tu Uyen ,&nbsp;Tran Thu Huong ,&nbsp;Trinh Thi Huyen Minh ,&nbsp;Hoang Thi Phuong Anh","doi":"10.1016/j.aglobe.2024.100090","DOIUrl":"10.1016/j.aglobe.2024.100090","url":null,"abstract":"<div><div>This study assesses the impact of the Global Minimum Tax (GMT) on the attraction of foreign direct investment (FDI) in Vietnam. The authors rely on the analytical framework of UNCTAD (2022) and descriptive statistical methods to analyze and evaluate the impact of GMT on FDI attraction. The research findings indicate that the implementation of GMT will affect tax competitiveness, profit shifting, investment location, and investment scale in various degrees and directions. In particular, GMT may create conflicts between current tax laws and GMT rules, leading to inconsistencies and difficulties in enforcing tax regulations. Vietnam will have to compete with other countries in asserting tax jurisdiction over investment activities on its territory. GMT may negatively affect FDI inflows into Vietnam in sectors with a high tax elasticity to investments. Vietnam may be forced to move away from competition for attracting FDI solely based on corporate income tax and shift to new forms of competition. Based on these findings, the paper proposes several recommendations for the Vietnamese government to refine policies related to GMT.</div></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"4 2","pages":"Article 100090"},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142704991","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Impact of COVID-19 and border closures on North Korean markets: A comparison with international prices COVID-19 和边境关闭对朝鲜市场的影响：与国际价格的比较
Asia and the Global Economy Pub Date : 2024-07-01 DOI: 10.1016/j.aglobe.2024.100096
Seungho Jung , Dawool Kim , Kyoochul Kim
{"title":"Impact of COVID-19 and border closures on North Korean markets: A comparison with international prices","authors":"Seungho Jung ,&nbsp;Dawool Kim ,&nbsp;Kyoochul Kim","doi":"10.1016/j.aglobe.2024.100096","DOIUrl":"10.1016/j.aglobe.2024.100096","url":null,"abstract":"<div><div>This study examines the impact of COVID-19 and border closures on North Korean markets by comparing the prices of key goods—rice, gasoline, diesel, and exchange rates—with those in the Chinese and global markets. By analyzing market price data, we assess North Korea's economic connectivity to international markets, particularly through China, and how pandemic-induced disruptions affected this linkage. Empirical results reveal that North Korean market prices for these goods generally maintain a long-term equilibrium relationship with international and Chinese prices, although the COVID-19 period disrupted this relationship. These findings suggest that North Korea's macroeconomic stability, especially price levels, is influenced by external factors through its economic ties with China.</div></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"4 2","pages":"Article 100096"},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142704997","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Japan and South Korea's engagement in the Chinese market post-RCEP implementation: A case study of the semiconductor industry 实施《关于建立更紧密经贸关系的安排》后日本和韩国在中国市场的参与情况：半导体行业案例研究
Asia and the Global Economy Pub Date : 2024-07-01 DOI: 10.1016/j.aglobe.2024.100085
Yuxin Peng (Ph.D. student at Ritsumeikan University)
{"title":"Japan and South Korea's engagement in the Chinese market post-RCEP implementation: A case study of the semiconductor industry","authors":"Yuxin Peng (Ph.D. student at Ritsumeikan University)","doi":"10.1016/j.aglobe.2024.100085","DOIUrl":"https://doi.org/10.1016/j.aglobe.2024.100085","url":null,"abstract":"<div><p>After the RCEP implementation in 2022, trade differences emerged between Japan and South Korea with China, especially in semiconductors. Japan's exports to China declined, while South Korea's grew. This study uses qualitative and quantitative methods to explain post-RCEP semiconductor trade differences, focusing on value chain complementarity, new tariff rates, and U.S. factors. Three conclusions: 1) Within the global value chain, the different positions of Japan and South Korea in the semiconductor sectors compared to China result in varying levels of market complementarity between Japan and China and South Korea and China; South Korea, in particular, exhibits a significantly higher potential market. 2) In terms of reducing tariff barriers under RCEP, compared to Japan, South Korea experienced a more substantial decline in semiconductor tariff rates in the Chinese market. 3) The non-tariff barrier sanctions imposed by the United States on Chinese semiconductors in 2022 influenced trade choices for Japan and South Korea. Japan, being more loyal to the United States, tends to align with U.S. policies, leading to a reduction in semiconductor trade with China.</p></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"4 2","pages":"Article 100085"},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2667111524000094/pdfft?md5=a0af832f82ea4a06e998fabeb950aa3c&pid=1-s2.0-S2667111524000094-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141483872","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Does automation really reduce jobs? 自动化真的会减少工作岗位吗？
Asia and the Global Economy Pub Date : 2024-07-01 DOI: 10.1016/j.aglobe.2024.100099
Zheng Fang , Soon Hock Kang , Sandra Myo Han May
{"title":"Does automation really reduce jobs?","authors":"Zheng Fang ,&nbsp;Soon Hock Kang ,&nbsp;Sandra Myo Han May","doi":"10.1016/j.aglobe.2024.100099","DOIUrl":"10.1016/j.aglobe.2024.100099","url":null,"abstract":"<div><div>Using panel data from 63 countries in 2005–2021 and the generalised method of moments, this paper examines the impact of industrial robot utilisation on employment. Results show a 1 % increase in new industrial robot installations per 10,000 workers reduces the unemployment rate by 0.037 %-0.039 %. The impact is more pronounced for male workers (0.045 %) than female workers (0.033 %), and youth unemployment is more significantly affected. Lastly, automation is found to reduce the unemployment rate by 0.052 % for people with intermediate education, yet with little effect on those with basic or advanced educational attainment.</div></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"4 2","pages":"Article 100099"},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142704994","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Cooperation or conflict in northeast Asia? - An approach of NARCI (Northeast Asia Regional Cooperation Index) 东北亚的合作还是冲突？- 东北亚区域合作指数（NARCI）的研究方法
Asia and the Global Economy Pub Date : 2024-07-01 DOI: 10.1016/j.aglobe.2024.100089
Jiyoung Moon , Jehoon Park , Sunghoon Park
{"title":"Cooperation or conflict in northeast Asia? - An approach of NARCI (Northeast Asia Regional Cooperation Index)","authors":"Jiyoung Moon ,&nbsp;Jehoon Park ,&nbsp;Sunghoon Park","doi":"10.1016/j.aglobe.2024.100089","DOIUrl":"10.1016/j.aglobe.2024.100089","url":null,"abstract":"<div><div>In order to measure the current status of Northeast Asian regional cooperation, more specifically in order to comprehensively evaluate whether the region is in a state of cooperation or conflict, this paper adopts a revised and improved combination of approaches used in three existing publications. The Northeast Asia Cooperation Index (NARCI) illustrates the strained situation in Northeast Asia as expected. Looking at the total score, it is -0.25 and -0.425 in 2022 and 2023, respectively, indicating that Northeast Asian regional cooperation is in a state of conflict rather than cooperation and is getting worse. In particular, the political and security situation is at its worst and the economy is also depressed. Regional trade, investment and energy cooperation are all deteriorating. However, some indicators point to the obvious contrast between cooperation and conflict in Northeast Asia giving unexpected dynamism. It should be emphasized that the regional value chain remains robust, even amid the conflict between the US and China.</div></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"4 2","pages":"Article 100089"},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142704996","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
How oil prices impact the Taiwanese economy: Evidence from the stock market 石油价格如何影响台湾经济？来自股市的证据
Asia and the Global Economy Pub Date : 2024-07-01 DOI: 10.1016/j.aglobe.2024.100086
Willem Thorbecke
{"title":"How oil prices impact the Taiwanese economy: Evidence from the stock market","authors":"Willem Thorbecke","doi":"10.1016/j.aglobe.2024.100086","DOIUrl":"10.1016/j.aglobe.2024.100086","url":null,"abstract":"<div><div>Oil prices are volatile. How do oil prices affect Taiwanese industries? This paper investigates how oil price increases driven by shocks to global aggregate demand and to oil supply affect Taiwanese sectoral stock returns. It uses Hamilton's (2014) approach to divide oil price changes into portions driven by demand and supply factors. The results indicate that the semiconductor sector and Taiwan Semiconductor Manufacturing Company (TSMC) are harmed by oil price increases. Since oil prices are often high and quick to change, these findings imply that TSMC should expedite its goal of switching from depending on fossil fuels to utilizing renewable energy.</div></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"4 2","pages":"Article 100086"},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142571568","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Trade liberalization and export performance in China: Export-margin approach with firm-level data in 1995–2019 贸易自由化与中国的出口绩效：利用1995-2019年企业层面数据的出口利润率方法
Asia and the Global Economy Pub Date : 2024-07-01 DOI: 10.1016/j.aglobe.2024.100094
Hui-Zheng Liu , Shi-Long Li , Kevin H. Zhang
{"title":"Trade liberalization and export performance in China: Export-margin approach with firm-level data in 1995–2019","authors":"Hui-Zheng Liu ,&nbsp;Shi-Long Li ,&nbsp;Kevin H. Zhang","doi":"10.1016/j.aglobe.2024.100094","DOIUrl":"10.1016/j.aglobe.2024.100094","url":null,"abstract":"<div><div>A key challenge facing developing countries is how to promote export performance through trade liberalization (TL). Using large and highly disaggregate firm-level data with 6-digit HS categories for 1995–2019, we investigate the issue for China based on the recent literature of export margins (XM). Export growth is decomposed into extensive and intensive margins (EM and IM), and IM further into price and quantity margins (PM and QM). We develop three empirical hypotheses based on a theoretical model that includes external economies of scale (EES) and industrial agglomeration (IA) as well as TL-XM links. Then we take China's entry to World Trade Organization (WTO) in 2001 as a quasi-natural experiment in difference-in-difference (DID) regressions. The estimate results suggest that TL increases both EM and IM (and QM) but reduces PM after China's entry to TWO in 2001. The finding is robust to various specifications of the empirical model and measurements of the variables. The further estimations show significantly positive effects of EES, IA, and their interactive terms with TL on EM, IM, and QM. The positive effects are larger for medium-tech industries than low-tech and high-tech industries.</div></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"4 2","pages":"Article 100094"},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142704992","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The fourth industrial revolution: Implications for the global economy and for the strategic competition between the United States and China
Asia and the Global Economy Pub Date : 2024-07-01 DOI: 10.1016/j.aglobe.2024.100097
Josef C. Brada , Jehoon Park
{"title":"The fourth industrial revolution: Implications for the global economy and for the strategic competition between the United States and China","authors":"Josef C. Brada ,&nbsp;Jehoon Park","doi":"10.1016/j.aglobe.2024.100097","DOIUrl":"10.1016/j.aglobe.2024.100097","url":null,"abstract":"<div><div>During the First Industrial Revolution, industrialization led to incompatibilities between the economic sphere and a political sphere based on rule by monarchs and land-owning nobles. These incompatibilities led to poor economic outcomes for workers and, ultimately, to deep changes in the political system. In the Second and Third Industrial Revolutions, compatibility emerged between new technologies and political systems based on representative democracy, leading to favorable outcomes. The changes in technology brought by the Fourth Industrial Revolution may lead to a growing incompatibility between the productive and political spheres, marked by polarization and conflict both within and among counties. A key aspect of this conflict is the rivalry between the United States and China. We evaluate the strengths of the respective countries and analyze which of them is likely to win the competition for dominance during the Fourth Industrial Revolution.</div></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"4 2","pages":"Article 100097"},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142748638","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Profiling the perceived resilience of young farmers in Japanese agriculture 剖析日本农业中青年农民的抗风险能力
Asia and the Global Economy Pub Date : 2024-07-01 DOI: 10.1016/j.aglobe.2024.100092
Yuna Seo, Naoto Shirasawa
{"title":"Profiling the perceived resilience of young farmers in Japanese agriculture","authors":"Yuna Seo,&nbsp;Naoto Shirasawa","doi":"10.1016/j.aglobe.2024.100092","DOIUrl":"10.1016/j.aglobe.2024.100092","url":null,"abstract":"<div><div>The importance of younger farmers is increasing as Japan's agricultural sector faces a declining labor force. This study assessed young farmers' perceptions and resilience in response to agricultural changes and risks, using four criteria: robustness, adaptability, transformability, and cooperativeness. Farmers were categorized into two resilience profiles: high and low. High-resilience farmers displayed strong agricultural training, mathematical skills, and a positive approach to future challenges, managing farm functions efficiently. Conversely, the low-resilience group had limited training, lower mathematical abilities, and struggled with challenges, expressing concerns about economic issues and uncertainty. Recommendations for strengthening resilience include enhancing agricultural education, promoting rural life, and fostering innovative farming. These insights offer valuable guidance for policymakers aiming to build a resilient, sustainable agricultural sector in Japan.</div></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"4 2","pages":"Article 100092"},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142655428","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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