Asia and the Global Economy最新文献_第2页

Economic growth and foreign direct investment in Asia: When investors imperfectly fulfil approved investment plans 亚洲的经济增长和外国直接投资：当投资者不完全履行已批准的投资计划时

Asia and the Global Economy Pub Date : 2024-07-01 DOI: 10.1016/j.aglobe.2024.100093

Abigail S. Hornstein

{"title":"Economic growth and foreign direct investment in Asia: When investors imperfectly fulfil approved investment plans","authors":"Abigail S. Hornstein","doi":"10.1016/j.aglobe.2024.100093","DOIUrl":"10.1016/j.aglobe.2024.100093","url":null,"abstract":"<div><div>Foreign direct investment (FDI) may represent an expansion in the domestic capital supply, which could thus increase GDP growth through the investment and consumption sectors and generate productivity increases. We examine this hypothesis by looking earlier in the investment process and use little-known data on FDI approvals from ten Asian countries that have routinely required advance approval of FDI and have also disclosed this data. We show that the approved FDI predicts actual FDI inflows, and that on average more FDI is approved than realized. The approved FDI is used to create an FDI commitment ratio and gap, which are thus absolute and relative measures of how FDI pledges are fulfilled. We then examine how the host economy is affected by the FDI commitment ratio and gap using an Arellano-Bond dynamic panel estimator to examine an unbalanced dataset spanning 1967–2022. We find GDP growth forecasts are significantly affected by both FDI measures. However, actual GDP growth is affected negatively by the FDI gap, with the effects strongest at the 3-year horizon. Thus, we show that FDI initially displaces domestic capital before expanding the domestic capital supply.</div></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"4 2","pages":"Article 100093"},"PeriodicalIF":0.0,"publicationDate":"2024-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142704993","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

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

Comparing the effectiveness of the African Growth and Opportunity Act (AGOA) and Forum on China-Africa Cooperation (FOCAC) in South Africa: An application of Keynes' Macroeconomic Theory 比较《非洲增长与机会法案》（AGOA）和中非合作论坛（FOCAC）在南非的成效：凯恩斯宏观经济理论的应用

Asia and the Global Economy Pub Date : 2024-05-26 DOI: 10.1016/j.aglobe.2024.100081

Marvellous Ngundu , Mulatu F Zerihun , Malibongwe C Nyathi

{"title":"Comparing the effectiveness of the African Growth and Opportunity Act (AGOA) and Forum on China-Africa Cooperation (FOCAC) in South Africa: An application of Keynes' Macroeconomic Theory","authors":"Marvellous Ngundu , Mulatu F Zerihun , Malibongwe C Nyathi","doi":"10.1016/j.aglobe.2024.100081","DOIUrl":"https://doi.org/10.1016/j.aglobe.2024.100081","url":null,"abstract":"<div><p>This study applies Keynesian macroeconomic theory in the ARDL model to compare the growth effects of the US's AGOA and China's FOCAC multilateral trading systems in South Africa from the first quarter of 2001 to the fourth quarter of 2022. The study uses South Africa's net exports with the corresponding partner as a proxy for each multilateral trading system. This quantification stems from the fact that South Africa's trade with the US and China has significantly improved since the establishment of AGOA and FOCAC in 2000. Our findings show that none of the multilateral trading systems contribute significantly to South Africa's economic growth. Rather, they appear to be used as strategic initiatives to gain access to mineral resources and facilitate the movement of mining machinery and other inputs into South Africa. To some extent, they are used as market-seeking initiatives, particularly FOCAC. It is worth noting, however, that the mineral resource preferences of these systems vary: while China prioritizes mineral products, the US prioritizes precious metals. This suggests that China and the US scramble for natural resources in South Africa, and possibly Africa in general, is complementary rather than competitive.</p></div>","PeriodicalId":100126,"journal":{"name":"Asia and the Global Economy","volume":"4 2","pages":"Article 100081"},"PeriodicalIF":0.0,"publicationDate":"2024-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S2667111524000057/pdfft?md5=33db1e2554789ef82a0db81d0f82d3be&pid=1-s2.0-S2667111524000057-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141097742","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 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

Is the WTO terminally ill? Threats to the international trading system 世贸组织病入膏肓了吗？国际贸易体系面临的威胁

Asia and the Global Economy Pub Date : 2024-01-01 DOI: 10.1016/j.aglobe.2024.100078

Zdenek Drabek

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