Search

Begin New Search Topic Economics Political Geography Asia

551. China and Emerging Asia: Comrades or Competitors?

Author:
John W. Schindler, John G. Fernald, Prakash Loungani, and Alan J. Ahearne
Publication Date:
12-2003
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
Do increases in China's exports reduce exports of other emerging Asian economies? We find that correlations between Chinese export growth and that of other emerging Asian economies are actually positive (though usually not significant), even after controlling for trading-partner income growth and real effective exchange rates. We also present results from a VAR estimation of aggregate trade equations on the relative importance of foreign income and exchange rates in determining Asian export growth. Although exchange rates do matter for export performance, the income growth of trading partners matters even more. In addition, we examine specific products and find evidence that a considerable shifting of trade patterns is taking place, consistent with a 'flying geese' pattern in which China and ASEAN-4 move into the product space vacated by the NIEs. Our results suggest that China and emerging Asia are both comrades (overall) and competitors (in specific products).
Topic:
Economics and Emerging Markets
Political Geography:
China and Asia

552. Contagion: An Empirical Test

Author:
Jon Wongswan
Publication Date:
09-2003
Content Type:
Working Paper
Institution:
Board of Governors of the Federal Reserve System
Abstract:
Using the conditional Capital Asset Pricing Model (CAPM), this paper tests for the existence and pattern of contagion and capital market integration in global equity markets. Contagion is defined as significant excess conditional correlation among different countries' asset returns above what could be explained by economic fundamentals (systematic risks). Capital market integration is defined as the situation in which only systematic risks are priced. The paper uses a panel of sixteen countries, divided into three blocs: Asia, Latin America, and Germany-U.K.-U.S., for the period from 1990 through 1999. The results show evidence of contagion and capital market integration. In addition, contagion is found to be a regional phenomenon.
Topic:
International Relations, Economics, Globalization, and International Trade and Finance
Political Geography:
United States, United Kingdom, Asia, Germany, and Latin America

553. A Jobless Recovery?

Author:
Allan H. Meltzer
Publication Date:
11-2003
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
While Alan Greenspan and most analysts continue to discuss the loss of millions of manufacturing jobs since the Bush administration took office, the Labor Department Household Survey shows such claims to be either wrong or greatly exaggerated.
Topic:
International Relations, Foreign Policy, Democratization, and Economics
Political Geography:
Russia, Europe, and Asia

554. The YUKOS Affair

Author:
Leon Aron
Publication Date:
09-2003
Content Type:
Policy Brief
Institution:
American Enterprise Institute for Public Policy Research
Abstract:
In the early morning of October 25, 2003, masked agents of the Russian security agency, the FSB, stormed the plane of Mikhail Khodorkovsky, CEO and principal owner of Russia's largest private oil company, YUKOS; arrested him; and conveyed him to a Moscow prison. He was charged with tax evasion, fraud, forgery, and embezzlement.
Topic:
Democratization, Economics, and Emerging Markets
Political Geography:
Russia, Europe, and Asia

555. Clean Air for Asia - China - India - Japan - United States Cooperation to Reduce Air Pollution in China and India

Author:
Richard L. Lawson, John R. Lyman, Donald L. Guertin, Tarun Das, Shinji Fukukawa, and Yang Jike
Publication Date:
07-2003
Content Type:
Policy Brief
Institution:
Atlantic Council
Abstract:
For China and India, rapid economic growth is imperative to alleviate poverty, raise income levels and improve their citizens' quality of life. In 2000, China and India's combined populations of 2.3 billion represented over 38 percent of the world's population. With both countries determined to grow their economies rapidly, there will be an associated rapid rise in energy demand. One of the most significant problems facing the two countries is the existing and increasing level of air pollution that will accompany growing energy consumption. This report focuses on the challenge of developing economic, energy, and environmental policies that will complement existing policies designed to reconcile the drive for economic growth with the need for greater environmental protection of air quality.
Topic:
Economics and Environment
Political Geography:
United States, Japan, China, India, and Asia

556. South Korea, a new model for the new economy?

Author:
Christian Milelli
Publication Date:
09-2003
Content Type:
Working Paper
Institution:
Centre d'Etudes et de Recherches Internationales
Abstract:
The "new economy" in South Korea rhymes with the Internet. In 2003, the "land of morning calm" has actually become the most connected country in the world. The present study tackles this phenomenon from a number of angles. The Internet is not only considered as a physical network but a lever of transformation of the country's economic and social life. Although the role of the state has been decisive and remains focal, it is not enough to explain the extreme rapidity with which the new electronic medium spread, which is due to a broad range of causes. The Korean experience differs from former ones in that it extends well beyond the market sphere (ecommerce) to areas such as education, volunteer associations and even politics. The emergence of a national dimension constitutes another characteristic that at first seems paradoxical, since the Internet is so universal in scope. Yet observation of the evolution of Internet traffic on the national level confirms this trend. South Korea is far from an exceptional case in Asia, but the country has taken the lead over its neighbors, becoming a new "model." Beyond these singular features, the Korean experience in the use of the Internet again demonstrates that a global "information revolution" – in other words, a process that is quickly reshaping the material bases of an entire society – is underway.
Topic:
Development, Economics, and Emerging Markets
Political Geography:
Asia and South Korea

557. CERI: Barter and Inter-business Transactions in Russia: Trade Normalization in View after the Ruble Crisis of 1998?

Author:
Caroline Dufy
Publication Date:
09-2003
Content Type:
Working Paper
Institution:
Centre d'Etudes et de Recherches Internationales
Abstract:
Barter was a prominent issue in public debate during the 1990s in Russia: it prompted a more overall reflection on the nature of the Russian economy and the aim pursued by economic reforms. These major issues shaped a number of divisions: the government opposition portrayed barter as one of the pernicious effects of economic policies that gave priority to finance to the detriment of the national productive sphere. For others, it was to be interpreted as the legacy of the Soviet industrial sector and its lack of competitiveness.
Topic:
Development, Economics, and International Trade and Finance
Political Geography:
Russia, Europe, and Asia

558. Chechen Militia Threaten Increased Terrorism

Author:
Tamara Makarenko
Publication Date:
05-2003
Content Type:
Working Paper
Institution:
Centre for the Study of Terrorism and Political Violence, St. Andrews University, Scotland
Abstract:
Chechen resistance movements have reorganised to adjust to the post 11 September 2001 security environment, and appear to be adopting more lethal terrorist tactics. Tamara Makarenko reports.
Topic:
Security, Economics, and Terrorism
Political Geography:
Russia, Europe, Asia, and Moscow

559. The Institutional Setting of the NAFTA Debate in the United States

Author:
Miguel Ángel Valverde
Publication Date:
02-2003
Content Type:
Working Paper
Institution:
Centro de Investigación y Docencia Económicas
Abstract:
The objective of this paper is to analyze the institutional setting of the NAFTA debate in the United States, focusing on the interaction between the Presidency and Congress, in the formulation of foreign commercial policy. A series of arrangements have tamed confrontation between the Executive and Legislative powers, reconciling their institutional biases. THese arrangements channel and contain domestic demands for protectionism, favoring international trade liberalization negotiations.
Topic:
Economics, International Trade and Finance, and Treaties and Agreements
Political Geography:
Africa, United States, Asia, and North America

560. George Russell Centre Newsletter No. 4, VAT Administration: Is Reform Necessary?

Publication Date:
06-2003
Content Type:
Working Paper
Institution:
EastWest Institute
Abstract:
The fourth regular round table discussion, organized by the George Russell Centre for Corporate Competitiveness (GRCCC) within the framework of the open discussion "The Future of Russia: Developing Global Competitiveness" took place on July 11, 2003 in the Moscow Centre of the EastWest Institute. The theme of the round table was: "VAT Administration: Is Reform Necessary?". Leading Russian experts, largely members of the George Russell Centre expert group, participated in the discussion.
Topic:
Development, Economics, and International Trade and Finance
Political Geography:
Russia, Europe, Asia, and Moscow