Asian Economic Journal最新文献_第7页

Debt Begets Debt: The Sri Lankan Welfare State and Fiscal Sustainability 债务引发债务:斯里兰卡福利国家与财政可持续性

IF 1.3 4区经济学

Asian Economic Journal Pub Date : 2021-12-27 DOI: 10.1111/asej.12255

Tilak Abeysinghe

{"title":"Debt Begets Debt: The Sri Lankan Welfare State and Fiscal Sustainability","authors":"Tilak Abeysinghe","doi":"10.1111/asej.12255","DOIUrl":"10.1111/asej.12255","url":null,"abstract":"Universal free education, healthcare and food subsidy and land (and housing) for the landless were the key features of the Sri Lankan welfare state. In the 1960s and 1970s, Sri Lanka was an outlier among developing countries in that it had high human development indicators for a low-income country. Sri Lanka cannot make the same claims today. Many developing countries have surpassed Sri Lanka. Insufficient economic growth and perpetual budget deficits have resulted in an unsustainable build-up of public debt. A segmented trend analysis of the debt-to-GDP ratio shows that social welfare programs are not the main drivers of unsustainable debt trends at present. It is debt servicing that perpetuates the debt burden. In fact, the fiscal constraints of the country have taken a heavy toll on the quality of the social programs. The debt burden resulting from an aging population, although largely offset at present by the declining proportion of young people in the population, is bound to increase further. Interestingly, apart from higher GDP growth, a quality-adjusted road network seems to contribute to lowering the debt burden through indirect growth effects. By implication, essential infrastructure development increases the debt burden in the short run but reduces the debt burden in the long run when the growth effects start to kick in.","PeriodicalId":45838,"journal":{"name":"Asian Economic Journal","volume":"35 4","pages":"363-389"},"PeriodicalIF":1.3,"publicationDate":"2021-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42492521","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

EAEA17 Conference: Call for Papers and Preliminary Information EAEA17会议:论文和初步信息征集

IF 1.3 4区经济学

Asian Economic Journal Pub Date : 2021-12-27 DOI: 10.1111/asej.12258

引用次数: 0

Impact of Financial Literacy on Retirement Financial Portfolio: Evidence from China* 金融素养对退休理财投资组合的影响:来自中国的证据*

IF 1.3 4区经济学

Asian Economic Journal Pub Date : 2021-12-27 DOI: 10.1111/asej.12256

Ruiting Sun, Huanhuan Zhang, Calum G. Turvey, Xueping Xiong

{"title":"Impact of Financial Literacy on Retirement Financial Portfolio: Evidence from China*","authors":"Ruiting Sun, Huanhuan Zhang, Calum G. Turvey, Xueping Xiong","doi":"10.1111/asej.12256","DOIUrl":"10.1111/asej.12256","url":null,"abstract":"Financial literacy is an important factor that affects financial assets saved for retirement. Based on the China Household Finance Survey (2017) data and the two-stage life cycle model, we study the impact of financial literacy on retirement financial portfolios. The findings are as follows: (i) financial literacy has a significant positive impact on the choice of wealth management products, risky financial assets and the total amount of retirement financial assets, but it has a negative impact on the choice of bank savings; (ii) financial literacy has a significant negative impact on the proportion of savings but has a significant positive impact on the proportion of wealth management products and risky financial assets; and (iii) using a different financial literacy index, considering selection bias and the influence of financial practitioners in the household, we prove the reliability of the above results. The paper highlights the importance of financial education and provides strong support for public (government) involvement to strengthen financial literacy education and improve the awareness of retirement financial planning to reduce the financial pressures faced by many of China's elderly citizenry.","PeriodicalId":45838,"journal":{"name":"Asian Economic Journal","volume":"35 4","pages":"390-412"},"PeriodicalIF":1.3,"publicationDate":"2021-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45326483","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 3

Corporate Tax Avoidance and Firm Diversification: Evidence from Chinese Listed Firms 企业避税与企业多元化:来自中国上市公司的证据

IF 1.3 4区经济学

Asian Economic Journal Pub Date : 2021-12-19 DOI: 10.1111/asej.12257

Zhigang Qin, Wen Liu, Maonan Chen

引用次数: 1

Effect of Export Credit Insurance on Export Performance: An Empirical Analysis of Korea* 出口信用保险对出口绩效的影响:韩国的实证分析*

IF 1.3 4区经济学

Asian Economic Journal Pub Date : 2021-11-01 DOI: 10.1111/asej.12252

Hyelin Choi, Kyunghun Kim

引用次数: 5

Monetary Policy Regimes in Small Open Economies: The Case of Sri Lanka* 小型开放经济体的货币政策制度:以斯里兰卡为例*

IF 1.3 4区经济学

Asian Economic Journal Pub Date : 2021-10-25 DOI: 10.1111/asej.12251

Harsha Paranavithana, Leandro Magnusson, Rod Tyers

引用次数: 0

Portfolio of Intangible Investments and Production and Innovation Performance: Evidence from Taiwanese Manufacturing Firms* 无形投资组合与生产与创新绩效:来自台湾制造业企业的证据*

IF 1.3 4区经济学

Asian Economic Journal Pub Date : 2021-10-24 DOI: 10.1111/asej.12254

Yi-Chi Hsiao, Mei-Lan Lo, Chia-Ling Lin, Hui-Lin Lin

{"title":"Portfolio of Intangible Investments and Production and Innovation Performance: Evidence from Taiwanese Manufacturing Firms*","authors":"Yi-Chi Hsiao, Mei-Lan Lo, Chia-Ling Lin, Hui-Lin Lin","doi":"10.1111/asej.12254","DOIUrl":"10.1111/asej.12254","url":null,"abstract":"In the face of keen competition, what is the optimal investment strategy for enhancing a firm's core competency? Which types of intangible investments should be encouraged? What are the effects of intangible investments on innovation performance? Intangible assets have long been recognized as important sources of firms' innovation and long-term growth. In a departure from the approach of traditional studies on intangible investments that mainly focus on the R&D input, in this study we explore the performance implications of non-R&D investments. Using uniquely compiled firm-level panel data of Taiwanese manufacturing firms for the years 2001, 2006 and 2011, we find that intangible investments positively contribute to firms' production and innovation performance. Among three categories of intangible investments, the empirical results show that economic competency contributes the most to the growth in the value of firms' output, and innovative property is the main driver facilitating the development of product innovation. Policy and managerial implications are also developed and investigated.","PeriodicalId":45838,"journal":{"name":"Asian Economic Journal","volume":"35 4","pages":"345-362"},"PeriodicalIF":1.3,"publicationDate":"2021-10-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47888492","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Terrorism Risk and the Mediating Role of Manager Experience: Empirical Evidence* 恐怖主义风险与管理者经验的中介作用:实证证据*

IF 1.3 4区经济学

Asian Economic Journal Pub Date : 2021-09-21 DOI: 10.1111/asej.12248

Ummad Mazhar

引用次数: 0

Is the Bank Lending Channel of Monetary Policy Evident in the Philippines? A Dynamic Panel Data Approach* 菲律宾货币政策的银行借贷渠道是否明显?动态面板数据方法*

IF 1.3 4区经济学

Asian Economic Journal Pub Date : 2021-09-21 DOI: 10.1111/asej.12249

Jean Christine A. Armas

引用次数: 0

Political Instability, Civil War and Cost Efficiency of Banking Firms: A Case Study in Sri Lanka* 政治不稳定、内战与银行成本效率:斯里兰卡个案研究*

IF 1.3 4区经济学

Asian Economic Journal Pub Date : 2021-09-21 DOI: 10.1111/asej.12250

Lalith Seelanatha

{"title":"Political Instability, Civil War and Cost Efficiency of Banking Firms: A Case Study in Sri Lanka*","authors":"Lalith Seelanatha","doi":"10.1111/asej.12250","DOIUrl":"10.1111/asej.12250","url":null,"abstract":"This paper investigates the effects of political instability resulting from successive regime changes and the 30-year civil war on the cost efficiency of local banks in Sri Lanka. A translog cost function was used to estimate bank cost efficiency, and a multivariate regression model was used to investigate the determinants of bank cost inefficiency. On average, the cost efficiency of banks in Sri Lanka during the study period was relatively high. Sri Lankan banks performed more efficiently during the second political regime (2001–2004), which had more liberal political and economic policies to promote the private sector compared with other regimes. During this period, the government was involved in peace talks, leading to a ceasefire agreement that temporarily stopped the violence. Furthermore, the positive coefficients for the dummy variables representing the third and fourth political regimes showed that more restrictive economic policies can increase bank cost inefficiencies. The results also indicate that immediately following the civil war, Sri Lankan banks recorded a decline in cost efficiency. Cost inefficiency was positively associated with banks' risk aversion, credit risk, market share, interest rate risk and increase in GDP and negatively associated with non-earning assets, liquidity, bank size and concentration.","PeriodicalId":45838,"journal":{"name":"Asian Economic Journal","volume":"35 3","pages":"294-316"},"PeriodicalIF":1.3,"publicationDate":"2021-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47476994","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 3