Asian Economic Papers最新文献

The Untimely Demise of the Goods and Services Tax (GST) in Malaysia: A Postmortem and the Way Forward 马来西亚商品与服务税（GST）的不合时宜消亡：事后总结与未来之路

IF 9.7 3区经济学

Asian Economic Papers Pub Date : 2024-01-08 DOI: 10.1162/asep_a_00883

Suresh Narayanan, Abdul Rais Abdul Latiff

{"title":"The Untimely Demise of the Goods and Services Tax (GST) in Malaysia: A Postmortem and the Way Forward","authors":"Suresh Narayanan, Abdul Rais Abdul Latiff","doi":"10.1162/asep_a_00883","DOIUrl":"https://doi.org/10.1162/asep_a_00883","url":null,"abstract":"\u0000 We discuss the reasons for the introduction of the Goods and Services Tax (GST) in Malaysia, its subsequent abolition, and the factors to consider if it is to be reinstated. The GST was implemented hastily to rein in mounting government deficits and debt. The lack of preparation to address its impact on the general price level, and incomes of poorer households in an economy already predisposed to inflation, led to widespread public discontent. The high compliance costs borne by smaller firms, delays in providing tax refunds to businesses, and the wasteful use of the additional revenues the tax generated strengthened the anti-GST sentiment. Any attempt to bring back the GST must focus on gaining acceptance rather than the revenue it generates. This is best achieved by timing its reintroduction correctly, keeping the rate low, the base broad, and implementing parallel measures to supplement the incomes of households seriously undermined by the tax on the consumption side. Additionally, addressing leakages, waste, and corruption in the public sector will strengthen public acceptance of the tax and instill confidence in public sector fiscal management.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":"2 4","pages":""},"PeriodicalIF":9.7,"publicationDate":"2024-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139446091","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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: 0

Comments by Nam Seok Kim, on The Untimely Demise of the Goods and Services Tax (GST) in Malaysia: A Postmortem and the Way Forward Nam Seok Kim 就马来西亚商品与服务税（GST）的不合时宜消亡发表的评论：事后总结与未来之路

IF 9.7 3区经济学

Asian Economic Papers Pub Date : 2024-01-08 DOI: 10.1162/asep_a_00884

引用次数: 0

Comments by Masahiro Endoh, on Change from COVID-19 Pandemic to a New Normal: Documenting Consumption Behavior of Two Years with Big Data Masahiro Endoh 关于从 COVID-19 大流行到新常态的变化的评论：用大数据记录两年的消费行为

IF 9.7 3区经济学

Asian Economic Papers Pub Date : 2024-01-08 DOI: 10.1162/asep_a_00877

引用次数: 0

The Threat of Economic Deglobalization from Cold War 2.0: A Japanese Perspective 冷战 2.0 带来的经济去全球化威胁：日本视角

IF 9.7 3区经济学

Asian Economic Papers Pub Date : 2024-01-08 DOI: 10.1162/asep_a_00875

M. Ando, Kazunobu Hayakawa, F. Kimura

{"title":"The Threat of Economic Deglobalization from Cold War 2.0: A Japanese Perspective","authors":"M. Ando, Kazunobu Hayakawa, F. Kimura","doi":"10.1162/asep_a_00875","DOIUrl":"https://doi.org/10.1162/asep_a_00875","url":null,"abstract":"\u0000 The intensified geopolitical tension in Northeast Asia and the U.S.–China confrontation have shifted policy debates in Japan toward national security while the economic discussion has become thin. To regain more balanced policy talks, this paper tries to quantitatively comprehend the effect of the United States and its allies’ export controls on the East Asian machinery production networks and Japan's trade performance. Major findings include the following four points: First, most of the supply chain decoupling policies by the Japanese government have been the ones to prepare for sudden interruptions of the supply of important items while decoupling policies for strategic competition are limited only in the context of the cooperation with the United States. Second, international trade statistics at the industry level do not show clear evidence of supply chain decoupling in East Asia due to the U.S. export controls, at least up to 2022. Third, however, the negative trade effect becomes visible at the product or individual firms’ level, and the recent strengthening of the United States and its allies’ export controls may augment the negative effect on machinery production networks. Fourth, although the scope of trade controls would expand further, the supply chain decoupling is likely to end up with a partial one. The paper claims that middle powers such as Japan must establish a well-balanced trade policy.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":"59 9","pages":""},"PeriodicalIF":9.7,"publicationDate":"2024-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139447711","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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: 0

Trade-war Tariffs and Supply Chain Trade 贸易战关税与供应链贸易

IF 9.7 3区经济学

Asian Economic Papers Pub Date : 2024-01-08 DOI: 10.1162/asep_a_00885

Deborah L. Swenson

引用次数: 0

Why Do Real Wages Stagnate in Japan and Korea? 日本和韩国的实际工资为何停滞不前？

IF 9.7 3区经济学

Asian Economic Papers Pub Date : 2024-01-08 DOI: 10.1162/asep_a_00882

Hyunbae Chun, K. Fukao, H. Kwon, Jungsoo Park

引用次数: 2

Resilience of Japanese Multinational Enterprise Production Networks during the COVID-19 Pandemic 日本跨国企业生产网络在 COVID-19 大流行期间的复原力

IF 9.7 3区经济学

Asian Economic Papers Pub Date : 2024-01-08 DOI: 10.1162/asep_a_00879

Licheng Liang

引用次数: 0

Exploring the Impact of China's Internal Circulation Strategy on its Stock Market under Deglobalization 探讨去全球化背景下中国内循环战略对股市的影响

IF 9.7 3区经济学

Asian Economic Papers Pub Date : 2024-01-08 DOI: 10.1162/asep_a_00880

Yujie Shi, Xinyi Hong, Liming Wang

{"title":"Exploring the Impact of China's Internal Circulation Strategy on its Stock Market under Deglobalization","authors":"Yujie Shi, Xinyi Hong, Liming Wang","doi":"10.1162/asep_a_00880","DOIUrl":"https://doi.org/10.1162/asep_a_00880","url":null,"abstract":"\u0000 In May 2020, China formulated the Internal Circulation Strategy (ICS) to address the risks of global economic downturns caused by deglobalization. This study is the first to empirically examine the impacts of China's ICS on its stock market performance, focusing on investor behavior. Using data from the Baidu search index and the Shanghai and Shenzhen stock exchanges for the period 27 July 2020 to 5 May 2023, the results reveal that stock returns are negatively associated with investor attention to China's ICS, while stock volatilities are positively associated. This suggests that the ongoing and profound shift in economic strategy has raised concerns among investors. Furthermore, our analysis of heterogeneity finds that the negative association with stock market returns is statistically significant only during times of high policy uncertainty or geopolitical risk. The positive association with stock market volatility is statistically significant only during times of high geopolitical risk. This indicates that the stability of the internal and external environment plays a crucial role in alleviating investor concerns. We also observe mixed impacts on different sectors of the stock markets, with some sectors unaffected while others primarily experiencing a decline in returns.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":"2 6","pages":""},"PeriodicalIF":9.7,"publicationDate":"2024-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139445902","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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: 0

Navigating the New Normal: The European Union's Changing Stance on Globalization in the Era of Trade Conflicts 驾驭新常态：欧盟在贸易冲突时代不断变化的全球化立场

IF 9.7 3区经济学

Asian Economic Papers Pub Date : 2024-01-08 DOI: 10.1162/asep_a_00886

Fredrik Sjöholm

引用次数: 0

Change from the COVID-19 Pandemic to a New Normal: Documenting Consumption Behavior of Two Years with Big Data 从 COVID-19 大流行到新常态的变化：用大数据记录两年的消费行为

IF 9.7 3区经济学

Asian Economic Papers Pub Date : 2024-01-08 DOI: 10.1162/asep_a_00876

Yoko Konishi, Takashi Saito, Hajime Kanai, Naoya Igei, Junichi Mizumura, Kyoko Shiga, Keita Sueyasu, Ryosuke Hamaguchi

{"title":"Change from the COVID-19 Pandemic to a New Normal: Documenting Consumption Behavior of Two Years with Big Data","authors":"Yoko Konishi, Takashi Saito, Hajime Kanai, Naoya Igei, Junichi Mizumura, Kyoko Shiga, Keita Sueyasu, Ryosuke Hamaguchi","doi":"10.1162/asep_a_00876","DOIUrl":"https://doi.org/10.1162/asep_a_00876","url":null,"abstract":"\u0000 The COVID-19 pandemic has drastically changed our daily lives in terms of eating, learning, working, and leisure time. So far, Japan has experienced eight waves of widespread infection and three emergency declarations but has coped with the crisis without mandatory lockdowns, behavioral restrictions, and mandatory mask-wearing that were seen in other countries. The response has mainly been an encouragement of behavioral changes in our daily lives. In this paper, we observe through “consumption big data” the initial disruption, the adaptation period, and the change to a new normal. We use point of sale (POS) data from supermarkets, convenience stores, home centers, drugstores, and consumer electronics mass merchandisers, as well as data from household bookkeeping applications, for the two years from January 2020 to December 2021. The POS data was used to observe item-level sales trends, while the household bookkeeping application data was used to observe trends in service expenditures and the prevalence of cashless payments. This made it possible to comprehensively understand the changes in consumer behavior during the pandemic.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":"31 11","pages":""},"PeriodicalIF":9.7,"publicationDate":"2024-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139446239","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"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: 0