Asian Review of Political Economy最新文献

{"title":"The emergence of geo-economic institutions: observations on European and Chinese development cooperation in Ukraine, Georgia, and Moldova 2014 – 2020","authors":"Angelo Kruger,&nbsp;Jack Strosser","doi":"10.1007/s44216-023-00020-2","DOIUrl":"10.1007/s44216-023-00020-2","url":null,"abstract":"<div><p>The emergence of China as a major provider of development finance has garnered considerable scholarly debate. Chinese investments and their impact on recipient states have been extensively studied, mainly focusing on the Belt and Road Initiative (BRI). In response to the BRI, the European Commission recently announced its connectivity strategy, the Global Gateway initiative. In this context, and even before the announcement, little work has been done to map Chinese state capitalist development finance side by side with the European Union’s (EU) market-led, public-private partnership-oriented strategies, especially within Europe’s own neighborhood. Additionally, the literature insufficiently explains why development institutions (agents) would act geo-economically to enforce their most powerful member states’ (principals) international agendas. This lack of theoretical explanatory power poses a serious puzzle. Thus, we ask, how has EU and Chinese institutional investment cooperation developed (legally and financially) in the EU’s Eastern Partnership (EaP) region in the previous EU Multiannual Financial Framework (MFF) from 2014 to 2020? We argue that development institutions have acted in accordance with their principal’s policy goals by facilitating investment and institutional agreements and by offering beneficial cooperation conditions, so that the EU and China can direct investment in a geo-economic manner if they choose to do so. In the following, we find that European investment in the EaP countries Ukraine, Moldova, and Georgia, has been huge in absolute terms (amount invested) and strong in relative terms––through deeper economic cooperation––when compared to Chinese investment activity in the same countries. This development supports the EU’s aim of countering China’s increasing economic presence in the region. However, we find that this gap has been closing in total terms. Our study suggests that while China has not matched EU investment in the EaP region for the previous MFF, further research is needed to unpack individual sectors and their geo-economic implications for official development institutions and their respective states.</p></div>","PeriodicalId":100130,"journal":{"name":"Asian Review of Political Economy","volume":"2 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://link.springer.com/content/pdf/10.1007/s44216-023-00020-2.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138953871","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}

{"title":"Evolution of government and market under China’s reform era: through the perspective of state capacity","authors":"Changdong Zhang","doi":"10.1007/s44216-023-00016-y","DOIUrl":"10.1007/s44216-023-00016-y","url":null,"abstract":"<div><p>There are two main stream theories explaining China’s rapid economic development in the reform era: new institutionalism and developmental state theory. Realizing the weaknesses of two main stream theories and based on China’s unique experience as both a transitional economy and developing economy that experienced rapid industrialization and marketization, scholars also developed other theories with some revisions of the above two mainstream theories. While these theories have very different focuses, they agree on the importance of state capacity. The author argues that the Chinese Communist Party composes the institutional foundation of state capacities to promote economic growth and build market institutions, and discusses three important aspects of how party strength and state capacity helped the market transition, government restructuring and enterprise reform. The future challenges are discussed in the conclusion.</p></div>","PeriodicalId":100130,"journal":{"name":"Asian Review of Political Economy","volume":"2 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://link.springer.com/content/pdf/10.1007/s44216-023-00016-y.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138958519","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}

{"title":"How inflation affects Japan’s “quantitatively eased” economy","authors":"Chris G. Pope","doi":"10.1007/s44216-023-00018-w","DOIUrl":"10.1007/s44216-023-00018-w","url":null,"abstract":"<div><p>This article argues that the Bank of Japan is caught in a bind owing to both its quantitative easing policies of the last two decades and chronic inflation. In response to quantitative tightening abroad, the Bank of Japan is under pressure to raise interest rates and/or allow yields on ten-year government bonds to rise. This is because the response to inflation among G7 nations has undermined the yen, which have made clear the flaws of the Bank of Japan’s approach to restoring economic growth, namely quantitative easing as any attempt to adapt to international efforts to address inflation, using monetary methods, runs the risk of triggering a cascade of loan defaults due to illiquidity issues both at home and in foreign markets. To demonstrate this, the article evaluates Japanese quantitative easing measures, including the Bank of Japan’s yield curve control policy, and assesses the problems it faces due to inflation and the responses to it, including monetary tightening abroad.</p></div>","PeriodicalId":100130,"journal":{"name":"Asian Review of Political Economy","volume":"2 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-12-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://link.springer.com/content/pdf/10.1007/s44216-023-00018-w.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139004602","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}

{"title":"Ye, Jing. (2022). The myth of local governance: state-building and participatory budget reform. Peking University Press","authors":"Hanyu Yang","doi":"10.1007/s44216-023-00019-9","DOIUrl":"10.1007/s44216-023-00019-9","url":null,"abstract":"","PeriodicalId":100130,"journal":{"name":"Asian Review of Political Economy","volume":"2 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-11-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://link.springer.com/content/pdf/10.1007/s44216-023-00019-9.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135136262","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}

{"title":"Albertus, Michael. (2021). Property without rights: origins and consequences of the property rights gap. Cambridge: Cambridge University Press","authors":"Yuchen Liu","doi":"10.1007/s44216-023-00017-x","DOIUrl":"10.1007/s44216-023-00017-x","url":null,"abstract":"","PeriodicalId":100130,"journal":{"name":"Asian Review of Political Economy","volume":"2 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://link.springer.com/content/pdf/10.1007/s44216-023-00017-x.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136209268","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}

{"title":"Japan-Bangladesh geo-economic cooperation: the lens of Free and Open Indo-Pacific (FOIP) for peace, stability and prosperity","authors":"Md. Jahangir Alam,&nbsp;Md. Saifullah Akon","doi":"10.1007/s44216-023-00015-z","DOIUrl":"10.1007/s44216-023-00015-z","url":null,"abstract":"<div><p>The ongoing transfer of economic power from the West to the East created a shift in economic dominance and the global power balance, allowing emerging nations to enhance their positions. Several countries favor a Free and Open Indo-Pacific initiative to preserve the status quo. Because it maintains an essential seaport in the Indian Ocean, Bangladesh is recognized as a maritime nation. Bangladesh’s geographic advantage allows it to serve as a node and hub in regional and inter-regional trade and investment. This potential stems from the global movement of economic power toward the Indo-Pacific Region. This study assesses whether Japan’s FOIP can provide peace and stability to Bangladesh while grasping geopolitical sustainability. Furthermore, this paper argues FOIP’s regional economic cooperation is managed effectively, and Japanese investment might benefit Bangladesh’s economy for sustainable development. This qualitative study uses primary and secondary data to evaluate the feasibility of Japanese geopolitical projects in Bangladesh for peace, stability, and prosperity. This study provides a new paradigm in analyzing the strategic geopolitical implications of FOIP in the Bay of Bengal area, highlighting the repercussions of geopolitical transformation into a strategic focal point. This study depicts the equiangular developmental diplomacy’s balancing instrument and standards for joint stability and growth in the Bay of Bengal area.</p></div>","PeriodicalId":100130,"journal":{"name":"Asian Review of Political Economy","volume":"2 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-09-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://link.springer.com/content/pdf/10.1007/s44216-023-00015-z.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135815598","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}

{"title":"Big business as vanguard: social welfare expansion in China","authors":"Hao Chen","doi":"10.1007/s44216-023-00014-0","DOIUrl":"10.1007/s44216-023-00014-0","url":null,"abstract":"<div><p>Why would an emerging market economy without Western democratic institutions provide and promote social welfare to its citizens? This paper explores the driving forces behind the rapid yet unequal expansion of social welfare in China, a phenomenon notable since the late 1990s. Rather than adhering to the conventional state-centered approach that views welfare expansion as a strategy for one-party regimes to seek legitimacy, this study offers an alternate perspective that emphasizes the ‘demand’ side, particularly the role of business. Through a systematic analysis of all 336 Chinese municipalities from 2001 to 2012, the study demonstrates how big businesses act as ‘vanguard,’ pushing local governments to enhance social welfare provision. It suggests that big businesses, in the absence of institutionalized democratic institutions, serve as ‘functional equivalents,’ channeling societal demands to the government. This paper also finds that firms’ influence on social policy in non-democracies is more capability based instead of institutional based; large domestic and multinational corporations are more capable in lobbying the government.</p></div>","PeriodicalId":100130,"journal":{"name":"Asian Review of Political Economy","volume":"2 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://link.springer.com/content/pdf/10.1007/s44216-023-00014-0.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78370241","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}

{"title":"Chen, Zhaoyuan. (2023). Investing in state capacity: FDI structure and state building in the developing countries. Shanghai People's Publishing House","authors":"Liu Luxin","doi":"10.1007/s44216-023-00013-1","DOIUrl":"10.1007/s44216-023-00013-1","url":null,"abstract":"<p>Liu L, Investing in State Capacity: FDI Structure and State Building in the Developing Countries (in Chinese: <i>投资国家能力：外国直接投资结构与发展中世界的国家建设</i>), by Chen Zhaoyuan, Shanghai People’s Press, 2023,328 pages, ¥85 (paperback)</p>","PeriodicalId":100130,"journal":{"name":"Asian Review of Political Economy","volume":"2 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-06-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://link.springer.com/content/pdf/10.1007/s44216-023-00013-1.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"73228621","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}

{"title":"Zhang, Changdong. (2021). Governing and ruling: the political logic of taxation in China. Ann Arbor: University of Michigan Press","authors":"Guangming Jiang","doi":"10.1007/s44216-023-00012-2","DOIUrl":"10.1007/s44216-023-00012-2","url":null,"abstract":"","PeriodicalId":100130,"journal":{"name":"Asian Review of Political Economy","volume":"2 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-04-17","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://link.springer.com/content/pdf/10.1007/s44216-023-00012-2.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82673769","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}

{"title":"A recent regulatory storm in China: theoretical interpretation and applicability","authors":"Youyi Zhang,&nbsp;Sen Gong","doi":"10.1007/s44216-023-00011-3","DOIUrl":"10.1007/s44216-023-00011-3","url":null,"abstract":"<div><p>While the recent “regulatory storm” in China has attracted attention from media, academia, and policy makers both in China and overseas, there lacks theoretical interpretation of Chinese central government’s major regulatory practices. Based on the review on global reflection of the shortcomings of the current market economy system and China’s own market economy practices, this article argues that China’s strengthening of market regulation is based on a people-centered paradigm of the state-market relationship that takes into account both efficient market and effective government and that is consistent with the international framework to improve the market economy system, in particular the stakeholder economy. To support the argument, this article illustrates China’s “regulatory storm” in terms of corporate governance, environmental goals, social impacts, adverse consequences, and employee rights with reference to cases from sectors affected by the “regulatory storm”. Moreover, China’s recent regulatory measures reflect the effectiveness of the “strong government” in rapidly rectifying market order and are in line with the global trend of building a new market system, which is worthy of reference for other Asian countries with similar political and economic contexts.</p></div>","PeriodicalId":100130,"journal":{"name":"Asian Review of Political Economy","volume":"2 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-03-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://link.springer.com/content/pdf/10.1007/s44216-023-00011-3.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76388294","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}