Asia and the Global Economy最新文献_第2页

The Marshall-Lerner Condition: Stability of an Equilibrium or a System? 马歇尔-勒纳条件：平衡的稳定性还是系统的稳定性？

Asia and the Global Economy Pub Date : 2024-07-01 DOI: 10.1016/j.aglobe.2024.100091

Hiroya Akiba

{"title":"The Marshall-Lerner Condition: Stability of an Equilibrium or a System?","authors":"Hiroya Akiba","doi":"10.1016/j.aglobe.2024.100091","DOIUrl":"10.1016/j.aglobe.2024.100091","url":null,"abstract":"<div><div>This article examines the Marshall-Lerner (ML) condition from a broader perspective. Mundell (1968) regarded ML as the stability condition of the equilibrium, but not of the system. The violation of the ML condition by Japan's estimates is interpreted as a possible symptom of a negative exchange rate depreciation spiral in Thorbecke (2022). By constructing an open-economy macroeconomic model with three endogenous variables in three markets, and solving the model for the exchange rate, we examined the model's stability. Stability depends not only on the ML condition, but also on the configuration of the model's parameters. This implies that the ML condition alone is not responsible for the stability/instability of the model. Using the ML parameter estimated by Thorbecke (2022) and previously obtained money market parameters for the Japanese economy, we found that a simple model satisfies the necessary and sufficient conditions for stability. However, for an extended model, some cases fail to satisfy stability conditions. We further investigate the possible cause of this failure, and suggest that the Bank of Japan's (BOJ) unconventional monetary policies implemented after the economic bubble burst may be responsible.</div></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"4 2","pages":"Article 100091"},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142759407","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

引用次数: 0

The impact of economic policy uncertainty on agricultural prices: Evidence from China 经济政策不确定性对农产品价格的影响：来自中国的证据

Asia and the Global Economy Pub Date : 2024-07-01 DOI: 10.1016/j.aglobe.2024.100100

Li Hao, Lee Ki-Seong

引用次数: 0

Local corruption and corporate investment in an emerging market 新兴市场的地方腐败与企业投资

Asia and the Global Economy Pub Date : 2024-07-01 DOI: 10.1016/j.aglobe.2024.100087

Thi Mai Nguyen, Quoc Trung Tran, Thi Thuy Trang Truong

引用次数: 0

Geoeconomics of US-China tech rivalry and industrial policy 中美科技竞争的地缘经济学与产业政策

Asia and the Global Economy Pub Date : 2024-07-01 DOI: 10.1016/j.aglobe.2024.100098

Kevin Honglin Zhang

引用次数: 0

Does innovation facilitate meeting the CO2 emission reduction targets of China: A non-linear approach 创新是否有助于实现中国的二氧化碳减排目标？非线性方法

Asia and the Global Economy Pub Date : 2024-01-01 DOI: 10.1016/j.aglobe.2024.100079

Yifan Wang , Nadia Doytch , Mohamed Elheddad , Wei Li , Mengna Chi

{"title":"Does innovation facilitate meeting the CO2 emission reduction targets of China: A non-linear approach","authors":"Yifan Wang , Nadia Doytch , Mohamed Elheddad , Wei Li , Mengna Chi","doi":"10.1016/j.aglobe.2024.100079","DOIUrl":"https://doi.org/10.1016/j.aglobe.2024.100079","url":null,"abstract":"<div><p>China has been implementing energy efficiency and CO<sub>2</sub> emission reduction schemes at the provincial level that have been embedded in the National Five Year Plans of the country. We set out to investigate the relationship between R&D expenditures and CO<sub>2</sub> emissions in China at the province level in the context of the planned emissions reduction targets. We explore the possibility of the existence of a non-linear relationship between R&D expenditures and CO<sub>2</sub> emissions with a non-parametric methodology, a fixed effect panel data quantile (FEQR) regression estimator applied to a panel of 30 provinces. We stratify the sample according to the five emissions reduction target tiers of the 12<sup>th</sup> Five-Year National Plan of China and we investigate the role of R&D expenditures in emissions reduction within each of the tiers. We find an inverse U relationship with different turning points for the three middle tiers and a U-shaped relationship for the tier under the most stringent environmental regulation. We find no effect in the tier with the least stringent emissions reduction targets. A further investigation shows that the above results are attributed to sectors with relatively low energy intensity and not to the sectors of heavy industry. The results allow us to draw broad conclusions about the effectiveness of investment in new technologies as a means of meeting the CO<sub>2</sub> targets in China.</p></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"4 1","pages":"Article 100079"},"PeriodicalIF":0.0,"publicationDate":"2024-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2667111524000033/pdfft?md5=d4d77183a23dccf5516019d519b505a6&pid=1-s2.0-S2667111524000033-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140548994","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

Board gender diversity in China and Eastern Europe 中国和东欧董事会的性别多样性

Asia and the Global Economy Pub Date : 2024-01-01 DOI: 10.1016/j.aglobe.2024.100077

Ichiro Iwasaki , Xinxin Ma , Satoshi Mizobata

{"title":"Board gender diversity in China and Eastern Europe","authors":"Ichiro Iwasaki , Xinxin Ma , Satoshi Mizobata","doi":"10.1016/j.aglobe.2024.100077","DOIUrl":"https://doi.org/10.1016/j.aglobe.2024.100077","url":null,"abstract":"<div><p>This paper reports on an empirical analysis of 42,094 public/private companies in China and 21 Eastern European countries to grasp the actual state and determinants of board gender diversity in emerging market firms. We confirmed that firms in these countries are comparable to those in advanced nations in terms of the prevalence of firms recruiting female board members and the female share of board directorships. Furthermore, in emerging market countries, internal promotions are used as often as, or even more often than, external ones to recruit women to director positions. The results revealed that board composition and ownership structure are important determinants of the gender diversity of the corporate board in emerging market firms. We also found that the effects of these factors vary significantly depending on the country/region and the listing status of firms and that two qualitatively different decision-making stages related to the appointment of women to board positions (i.e., a decision as to whether to appoint any women to the board and a decision as to how many board positions should be reserved for women) have a substantial impact on the empirical results.</p></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"4 1","pages":"Article 100077"},"PeriodicalIF":0.0,"publicationDate":"2024-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S266711152400001X/pdfft?md5=05b0e22faf6fc3e48fd15cb94ef0e3e3&pid=1-s2.0-S266711152400001X-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140643711","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

Digital revolution, blockchain technologies and central bank digital currencies: Implications for Asian economic cooperation 数字革命、区块链技术和中央银行数字货币：对亚洲经济合作的影响

Asia and the Global Economy Pub Date : 2024-01-01 DOI: 10.1016/j.aglobe.2024.100080

Ali M. Kutan

引用次数: 0

Searching for global equilibrium: How new economic statecraft undermines international institutions 寻求全球平衡：新经济国策如何破坏国际机构

Asia and the Global Economy Pub Date : 2024-01-01 DOI: 10.1016/j.aglobe.2023.100076

Vinod K. Aggarwal, Andrew W. Reddie

引用次数: 0

Erratum regarding missing Declaration of Competing Interest statements in previously published articles 关于以前发表的文章中缺少 "竞争利益声明 "的勘误

Asia and the Global Economy Pub Date : 2023-07-01 DOI: 10.1016/j.aglobe.2023.100067

引用次数: 0