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1. ESG Policy Trends in South Korea's Public Institutions

Author:
Hochang Song
Publication Date:
12-2022
Content Type:
Working Paper
Institution:
Korea Economic Institute of America (KEI)
Abstract:
In Korea, public institutions play a critical role in the national economy. Korean public institutions not only provide public services to the market but also influence various private enterprises by entering procurement contracts. Thus, it is meaningful to review and analyze the ESG policies and trends in Korean public institutions, since they may have a broader effect. Public institutions are established and supported by government investment. Due to this government support, public institutions find it unnecessary to receive investment from the private sector or funding from financial institutions, which means the government is the key stakeholder with the largest influence on public institutions in terms of ESG policies. In this context, the Korean government unveiled the “Economic Policy Direction for H2 2021” in June 2021, announcing that it would take measures to “ensure that public institutions will play a leading role in implementing ESG-based management.” The 2021 policy direction itself built upon several years of effort to implement ESG policy.
Topic:
Economy, Financial Institutions, Public-Private Partnership, and Public Institutions
Political Geography:
Asia and South Korea

2. Central Banks' Responses to COVID-19 in ASEAN Economies

Author:
Charan Singh and Panitra Kumar Jena
Publication Date:
08-2021
Content Type:
Research Paper
Institution:
Economic Research Institute for ASEAN and East Asia (ERIA)
Abstract:
The effect of the COVID-19 pandemic on public health, social life, economic conditions, and financial markets has been significant for Association of Southeast Asian Nations (ASEAN) economies. The main objective of this study is to understand the response of central banks to COVID-19 in 10 ASEAN economies, i.e., Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam. In this study, panel data as well as time-series data have been used to see the impact of COVID-19 on macroeconomic variables and financial variables. The period of the study ranges from 23 January 2020 to 11 December 2020. The first part of the study shows the trend analysis of macroeconomic variables of ASEAN economies and a descriptive analysis of various measures taken by the central banks of ASEAN economics. Further, a comparative analysis of monetary measures with advanced countries is depicted. Further, empirical findings of ARCH and GARCH indicate that recent as well as past COVID-19 news has a significant impact on stock market volatility in select ASEAN countries.
Topic:
Banks, Fiscal Policy, Pandemic, COVID-19, Financial Institutions, and Banking
Political Geography:
Asia and Southeast Asia

3. Intellectual Capital in Islamic Banking Sector: Evidence from Turkey

Author:
Hakan Uslu
Publication Date:
01-2020
Content Type:
Journal Article
Journal:
The Rest: Journal of Politics and Development
Institution:
Centre for Strategic Research and Analysis (CESRAN)
Abstract:
The Islamic banking sector has experienced a rapid development both in Muslim and non-Muslim geographies. In this study, using a panel dataset spanning the time period 2005-2018 and several econometric estimations, how intellectual capital affects the financial performance of the participation banks, as Islamic banks are called in Turkey is analysed. The Value-Added Intellectual Coefficient model (VAIC), a well-known methodology, is utilised as a measure for intellectual capital performances and return on assets (ROA) and return on shareholders’ equity (ROE), in general, financial performances of the banks. The results of the analyses provide evidence for a positive and statistically significant impact of intellectual capital on financial performances of Islamic banks operating in Turkey. The results also suggest that employed capital efficiency and structural capital efficiency in the operations of Islamic banks are the two crucial factors for their profitability, while human capital efficiency has no statistical relationship with their financial performances. The current study contributes to the relevant literature since there is no study on Islamic banks of Turkey in the aspect of intellectual capital and helps Islamic bankers, such as executives, investors and shareholders, or policymakers in understanding and determining their positions regarding intellectual capital.
Topic:
Banks, Financial Institutions, Capital, and Banking
Political Geography:
Europe, Turkey, and Asia

4. Asian Economic Success and Latin American Failure in the 1980s: New Analyses and Future Policy Implications

Author:
Ajit Singh
Publication Date:
03-1994
Content Type:
Working Paper
Institution:
Kellogg Institute for International Studies
Abstract:
A striking feature of the world economy during the last decade has been the collapse of economic growth in Latin America whilst industrialization and development have proceeded apace in the Asian countries. This paper first assesses alternative explanations of the Asian economic success and the Latin American failure during the 1980s. Secondly, it examines the related question of the long-term development strategies followed by the outstandingly successful East Asian economies. The paper arrives at rather different analyses and policy conclusions on these issues from those of the international financial institutions and the mainstream economists.
Topic:
Economic Growth, Economic Development, and Financial Institutions
Political Geography:
Asia and Latin America