Asian Development Bank Institute Research Paper Series最新文献

{"title":"Productivity and Employment in Apac Economies: A Comparison with the EU Using Firm-Level Information","authors":"Filippo di Mauro, Peter J. Morgan, Minh Duy Hoang","doi":"10.2139/ssrn.3870915","DOIUrl":"https://doi.org/10.2139/ssrn.3870915","url":null,"abstract":"We provide an overview of productivity development and other related indicators in Asia and Pacific (APAC) countries, with comparisons with the Europe region. We use the seventh vintage firm-level data from the Productivity Research Network in the APAC region and CompNet in Europe for our study. The overall results show that the productivity growth in developed APAC countries (Australia, New Zealand, and the Republic of Korea) is significantly ahead of the growth in developing APAC countries (India and the People’s Republic of China) and on par with the EU’s growth. There is an ongoing process of bottom firms catching up with top firms in the Republic of Korea and the richest EU countries. Regarding employment and labor skills, employment growth has generally been quite stagnant in all regions. Labor skills, for which we use the wage premium as a proxy, are quite similar across most regions, with the richest EU countries showing a higher premium than the rest. Our test of the productivity–employment link indicates that the size of employment tends to have a greater impact on productivity in APAC countries, while labor skills have greater emphasis in the EU.","PeriodicalId":120411,"journal":{"name":"Asian Development Bank Institute Research Paper Series","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-05-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131612784","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"“Sanitation” in the Top Development Journals: A Review","authors":"Ma. Laarni Revilla, Fangqi Qu, KE Seetha Ram, Bhanoji Rao Vadlamani","doi":"10.2139/ssrn.3912364","DOIUrl":"https://doi.org/10.2139/ssrn.3912364","url":null,"abstract":"The top 12 development journals published a total of 18,329 papers during the period 2000‒2020. Of these, only 51 focused on sanitation and related issues, which are the focus of this review. Results were mixed on the efficiency of sanitation delivery since political factors and administrative characteristics vary across locations. Accountability and leadership, especially at the local level, appear to be important driving forces. There is a need for more case studies that analyze what works, and what does not, in specific locations. Also, further studies will have to investigate how to influence the norms, traditions, and beliefs toward favorably supporting household sanitation decisions. Additionally, governments should enhance their social welfare programs to address socioeconomic inequalities (i.e., income, gender, and rural-urban disparities), which also critically affect individual and household sanitation investments. Efforts at national and international levels are needed to encourage research on the various dimensions of sanitation.","PeriodicalId":120411,"journal":{"name":"Asian Development Bank Institute Research Paper Series","volume":"58 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124499245","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Local Currency Bond Markets, Foreign Investor Participation, and Capital Flow Volatility in Emerging Asia","authors":"J. Beirne, Nuobu Renzhi, Ulrich Volz","doi":"10.2139/ssrn.3870861","DOIUrl":"https://doi.org/10.2139/ssrn.3870861","url":null,"abstract":"We examine the role of local currency bond markets (LCBMs) and foreign investor participation in these markets in capital flow volatility in emerging Asian economies over the period 1999 to 2020. Using a panel analysis and impulse response functions generated from a panel structural vector autoregression, we show that greater development of LCBMs across 10 Asian emerging economies in terms of capitalization helps to mitigate against capital flow volatility, while foreign investor participation has the opposite effect, particularly for less developed LCBMs. Our findings have policy implications from a financial stability perspective, whereby continued efforts to enhance LCBMs while reducing reliance on foreign investors should be encouraged. Strengthening the local investor base and mobilizing domestic resources through LCBMs ought to be a priority for raising long-term capital that will enable the financing of sustainable investment and development. Our findings also suggest that greater efforts are needed to enhance foreign exchange hedging arrangements for foreign investors in LCBMs, particularly in times of heightened financial stress.","PeriodicalId":120411,"journal":{"name":"Asian Development Bank Institute Research Paper Series","volume":"26 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133507340","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Macroeconomic Impact of COVID-19 in Developing Asia","authors":"Y. Sawada, Lea R. Sumulong","doi":"10.2139/ssrn.3912360","DOIUrl":"https://doi.org/10.2139/ssrn.3912360","url":null,"abstract":"We summarize the unprecedented adverse health and economic impacts as well as policy responses in the Asia and Pacific region and the rest of the world generated by the coronavirus disease (COVID-19) pandemic in 2020. By the end of 2020, over 80 million people had been infected, with developing Asia accounting for 17% of cases. As the pandemic progressed, the Asian Development Bank (ADB) carried out assessments of the impacts on the global economy as well as on the overall economies of its developing members, updating the analyses as more information became available. On the whole, five economic impact assessments were undertaken in 2020 – one each in March, April, May, June, and December. Based on the latest analysis, relative to a no-COVID-19 baseline, global losses were estimated at 5.5%–8.7% of world GDP in 2020 and 3.6%–6.3% of world GDP in 2021, with the corresponding losses for developing Asia amounting to 6.0%–9.5% of regional GDP and 3.6%–6.3% of regional GDP in 2020 and 2021, respectively. These impacts largely originate from declines in domestic demand and tourism, and from global spillovers. As a result of these losses, real GDP of the developing Asian region is estimated to have contracted by 0.4% in 2020. A partial recovery is expected in 2021, with regional growth projected at 6.8%. Further analyses were carried out to study the impacts on micro, small, and medium-sized enterprises;employment;migration and remittances;poverty;nonperforming loans;and debt sustainability. Faced with wide-ranging unfavorable impacts, governments and multilateral lenders responded aggressively to mitigate the adverse effects of the pandemic. Many governments provided direct income support to households and businesses to help them cope with the economic shock. Meanwhile, multilateral lenders like ADB readily provided support in terms of finance, knowledge, and partnerships. In addition, ADB launched a $9 billion vaccine facility, the Asia Pacific Vaccine Access Facility, in December 2020, to support its low- and middle-income member countries in the effective procurement and delivery of COVID-19 vaccines. Despite the availability of vaccines, however, there is no room for complacency, as it will take years for the global population to achieve herd immunity, especially amidst the emergence of new, more transmissible, virus strains. While COVID-19 has brought about long-lasting changes to the global economy, it is up to policy makers to use this opportunity to adapt COVID-19 responses to address longer-term challenges.","PeriodicalId":120411,"journal":{"name":"Asian Development Bank Institute Research Paper Series","volume":"23 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125107489","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"What Matters for Private Investment Financing in Renewable Energy Globally and in Asia?","authors":"Dina Azhgaliyeva, J. Beirne, Ranjeeta Mishra","doi":"10.2139/ssrn.3870857","DOIUrl":"https://doi.org/10.2139/ssrn.3870857","url":null,"abstract":"We examine the drivers of private investment in renewable energy by source of funding for 13 global economies over the period 2008 to 2018, with a focus on a sub-panel of Asian economies. Using a seemingly unrelated regression model, we provide a first quantitative estimate of the effect of government renewable energy policies on private investments across different sources of financing. Our results indicate that feed-in-tariffs (FITs) have the greatest overall effect in Asia on driving private investment in renewable energy, particularly from asset finance compared with other funding sources. The impact of FITs in Asia is also greater than that of the global sample. The impact of FITs is amplified in the presence of lower regulatory quality, which may be related to ease of market entry. We also find an important role in Asia for government expenditure on research and development in stimulating private investment. The magnitudes of the effects in Asia are broadly in line with the overall global sample. Finally, we find that technology costs, are less elastic on private investment in Asia compared with globally in affecting private investment in renewable energy across all funding sources, which may be related to the prevailing strong cost competitiveness of Asian economies in renewable energy provision.","PeriodicalId":120411,"journal":{"name":"Asian Development Bank Institute Research Paper Series","volume":"44 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127400676","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Does GVC Participation Improve Firm Productivity? A Study of Three Developing Asian Countries","authors":"S. Urata, Youngmin Baek","doi":"10.2139/ssrn.3912357","DOIUrl":"https://doi.org/10.2139/ssrn.3912357","url":null,"abstract":"We examine the impact of local firms’ participation in global value chains (GVCs) on productivity by considering three different patterns of GVC participation. We conducted a DID-PSM estimation involving three countries, Indonesia, the Philippines, and Viet Nam, and 17 manufacturing sectors in 2009 and 2015. We found an endogenous relationship between firm productivity and GVC participation: firms that enter GVCs have high productivity before participating in the GVCs (selection effect), and only Indonesian firms which entered GVCs had a high productivity growth after joining GVCs (learning effect). These two effects were only found for firms which both import intermediate goods and export output, and not for firms which only either import or export. We also found that indirect exporting does not improve a local firm’s productivity. We give several recommendations to help firms and governments facilitate the participation of firms in GVCs.","PeriodicalId":120411,"journal":{"name":"Asian Development Bank Institute Research Paper Series","volume":"14 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131048688","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Why Is Energy Access Not Enough for Choosing Clean Cooking Fuels? Sustainable Development Goals and Beyond","authors":"Zhanna Kapsalyamova, Ranjeeta Mishra, Aiymgul Kerimray, K. Karymshakov, Dina Azhgaliyeva","doi":"10.2139/ssrn.3912347","DOIUrl":"https://doi.org/10.2139/ssrn.3912347","url":null,"abstract":"The transition to sustainable energy requires an assessment of drivers of the use of clean and dirty fuels for cooking. Literature highlights the importance of access to modern fuel for switching from dirty fuels. Though access to cleaner fuels such as electricity promotes clean fuel use, it does not necessarily lead to a complete transition to the use of modern fuels. Households continue using traditional fuels in addition to modern fuels. We explain the choice of dirty cooking fuels even when access to electricity is provided. We use nationally representative household survey data to study the household energy use decisions in three middle-income countries, India, Kazakhstan, and the Kyrgyz Republic. We discuss the role of access to natural gas, free fuel, convenience or multi-use of fuels determined by the heating system installed, built-in environment, and other socioeconomic factors in household fuel choice for cooking. The results show that access to natural gas increases the likelihood of opting for natural gas, while the availability of free fuel in rural areas and the coal-based heating system promote the use of solid fuels.","PeriodicalId":120411,"journal":{"name":"Asian Development Bank Institute Research Paper Series","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129658762","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Impacts of COVID-19 on Households in ASEAN Countries and Their Implications for Human Capital Development","authors":"Peter J. Morgan, L. Trinh","doi":"10.2139/ssrn.3870909","DOIUrl":"https://doi.org/10.2139/ssrn.3870909","url":null,"abstract":"The outbreak of the COVID-19 virus and the resulting falls in demand due both to uncertainty and policy interventions such as lockdowns, “social distancing,” and travel restrictions are having a severe impact on Asian economies and hence on Asian households. These negative impacts come through a variety of channels, including loss of employment or reduced working hours, loss of sales and income of a household business, inability to travel to work, increased need to stay at home to look after children or sick household members, higher prices and/or lack of availability of staple items, reduced access to schooling, etc.<br><br>To better understand these impacts, we carried out computer-assisted telephone interviews of households in eight ADB developing member countries: Cambodia, the Lao People’s Democratic Republic, Indonesia, Malaysia, Myanmar, the Philippines, Thailand, and Viet Nam. Our empirical results suggest that various household characteristics, including household income class (before COVID-19), household demographic factors, and COVID-19-induced factors such as having at least one person who lost their job or being located in lockdown areas, all affected the likelihood of a decline in income. In all countries, having at least one person who lost their job or had reduced working time increases the likelihood of experiencing financial difficulties by 17 percentage points. About 27% of children who stopped attending school could not fully participate in online learning programs due to weak/insufficient internet connections and a lack of digital devices. Two COVID-19-related factors—having at least one person who lost their job or had working hours reduced and experiencing financial difficulties—significantly affect the intensity of online classes taken by children in an average household.","PeriodicalId":120411,"journal":{"name":"Asian Development Bank Institute Research Paper Series","volume":"94 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"115351896","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Demographic Transition for Economic Development in Taipei,China: Literature and Policy Implications","authors":"Chin-peng Chu, K. Yeh","doi":"10.2139/ssrn.3807139","DOIUrl":"https://doi.org/10.2139/ssrn.3807139","url":null,"abstract":"As an economy with a population of 23 million, Taipei,China is enjoying the demographic dividend of economic growth resulting from a shift in the population age structure, but an increasingly aged population could be bad for the economy. As an international comparison, its population is aging faster than that of most members of the Asian Development Bank and other advanced economies. Based on the literature, we evaluate the impact of aging on economic growth and volatility using relevant data and then concludes with the government policies relevant to the prospective aging problem. At the current stage, the situation is not as bad as expected. An aging workforce with positive productivity has no negative impact on economic growth. The old-age dependency ratio has a significantly negative effect on economic development, but appropriate foreign labor immigration and elderly long-term care policies can mitigate it. Higher education attainment still works to support economic growth in the long run. Besides, an increase in longevity first enhances and then erodes net foreign assets, and high old-age dependency ratios cause investments to respond strongly to technology shocks because individuals prefer to save more for retirement in aging societies. However, population aging has a minor influence on the dynamics of the macroeconomic variables. Nevertheless, the government should be cautious and allocate resources to help labor-intensive and low-skilled industries transform into more innovation-oriented and knowledge-intensive ones. Social welfare support must also become an important aspect of the social security framework.","PeriodicalId":120411,"journal":{"name":"Asian Development Bank Institute Research Paper Series","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-03-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130001650","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Industry Fragmentation and Wastewater Efficiency: A Case Study of Hyogo Prefecture in Japan","authors":"T. Urakami, David S. Saal, M. Nieswand","doi":"10.2139/ssrn.3807100","DOIUrl":"https://doi.org/10.2139/ssrn.3807100","url":null,"abstract":"The efficient operation of sewerage services is impacted by various factors such as geographic and topographical conditions, diversity of vertical and horizontal organizational structure, ownership types, and level of public–private partnership. The Ministry of Land, Infrastructure, Transport and Tourism, as the primary regulator of the sewerage industry in Japan, has conducted policy reforms to address issues facing the country in the 21st century: population decline, aging population, potentially high investment needs due to the aging facilities and frequent natural disasters, and fiscal pressures given the country’s high debt to gross domestic product ratio. The ministry has set out several policy directions, with the most important being wide-area consolidation (WAC). Given the fragmented nature of Japan's municipally controlled sewerage system with different entities serving different customer types, the optimal consolidation strategy might differ both within and between Japan’s 47 prefectures. We therefore conducted a case study of Hyogo Prefecture, which has identified several subprefecture regions within which to pursue WAC. Our aim was to gain a better understanding of how the complex characteristics and fragmentation impact not only current sewerage entity performance, but also the required approach to achieve the benefits from WAC. We argue that WAC policy objectives would be best achieved by establishing consolidated regional public sewer authorities, which should adopt one of the following consolidation strategies, depending on their own characteristics: consolidation to improve operational performance without physical integration; consolidation around a non-urban river basin system to improve treatment and collection efficiency; consolidation around a regional champion city to support small municipalities; consolidation around an urban river basin system of all operations and infrastructure; and urban consolidation of operations, collection, and treatment infrastructure.","PeriodicalId":120411,"journal":{"name":"Asian Development Bank Institute Research Paper Series","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-02-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124921708","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}