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1. Choice and Coercion in East Asian Exchange Rate Regimes

Author:
C. Randall Henning
Publication Date:
09-2012
Content Type:
Working Paper
Institution:
Peterson Institute for International Economics
Abstract:
This paper examines the exchange rate regimes of East Asian countries since the initial shift by China to a controlled appreciation in July 2005, testing econometrically the weights of key currencies in the implicit baskets that appear to be targeted by East Asian monetary authorities. It finds, first, that Malaysia, Thailand, Singapore and the Philippines have formed a loose but effective “renminbi bloc” with China, and that South Korea has participated tentatively since the global financial crisis. Second, the emergence of the renminbi bloc in terms of the exchange rate has been facilitated by the continued dominance of the US dollar as a trade, investment, and reserve currency. Third, exchange rate stabilization is explained by the economic strategies of these countries, which rely heavily on export development and financial repression, and the economic rise of China. Fourth, analysts should specify the exchange rate preferences of these emerging market countries carefully before drawing inferences about Chinese influence within the region.
Topic:
Development, Emerging Markets, Foreign Exchange, and International Trade and Finance
Political Geography:
China, Malaysia, Asia, South Korea, Philippines, Singapore, and Thailand

2. Would a Southeast Asian rice futures market be feasible, and what of food security?

Author:
Sally Trethewie
Publication Date:
05-2012
Content Type:
Policy Brief
Institution:
Centre for Non-Traditional Security Studies (NTS)
Abstract:
In 2010, it was proposed that Singapore consider hosting an international rice futures market, with cited benefits being enhanced price discovery and price stabilisation. The RSIS Centre for Non-Traditional Security (NTS) Studies hosted an Expert Working Group Meeting in Singapore in March 2012 to discuss the feasibility of this proposal. The market conditions of the Southeast Asian rice sector are seen as an impediment to the operation of an international futures contract, although opinion is divided as to the degree that these conditions would affect a contract. Whether feasible or not, the proposal for a rice futures market raises several issues related to the region's food security, in particular, the potential impact of futures trading on rice price volatility and the livelihoods of smallholder farmers. This NTS Policy Brief provides a summary of these issues and presents considerations for Southeast Asian policymakers.
Topic:
Agriculture, Development, International Trade and Finance, Markets, and Food
Political Geography:
Singapore and Southeast Asia

3. Executive Accountability in Southeast Asia: The Role of Legislatures in New Democracies and Under Electoral Authoritarianism

Author:
William Case
Publication Date:
01-2011
Content Type:
Policy Brief
Institution:
East-West Center
Abstract:
In an influential study, Fish and Kroenig argue that "overarching institutional designs" (i.e., presidential, parliamentary, and dual systems) tell us less about the prospects of a new democracy than does the particular strength of the legislature. Specifically, executives are best checked where legislatures are powerful, generating horizontal accountability. In addition, ordinary citizens are better informed by the robust party systems that strong legislatures support, fostering vertical accountability. In comparing Freedom House scores with their Parliamentary Powers Index (PPI), Fish and Kroenig show clear correlations, leading them to conclude that democracies are made strong by legislatures that are empowered. In this monograph, this thesis is tested in five country cases in Southeast Asia: the Philippines and Indonesia, both new democracies, and Malaysia, Cambodia, and Singapore, cases of electoral authoritarianism. Analysis uncovers that in the new democracies, though their legislatures may be rated as powerful, members are geared less to checking the executive than to sharing in state patronage. In addition, although the legislature is evaluated as weak under electoral authoritarianism, it features an opposition that, with little access to patronage, remains committed to exposing executive abuses. What is more, when the executive operates a regime type that lacks the full legitimacy gained through general elections, he or she grows more receptive to at least mild legislative scrutiny. Contrary to Fish and Kroenig, then, this study concludes that the executive is held more accountable by legislatures under electoral authoritarianism than in new democracies. But rather than leading to a transition to democratic politics, this accountability strengthens authoritarian rule.
Topic:
Civil Society, Democratization, Development, Government, and Politics
Political Geography:
Malaysia, Asia, Cambodia, and Singapore

4. Ensuring Urban Food Security in ASEAN

Author:
Mely Caballero-Anthony, Paul Teng, Margarita Escaler, and Pau Khan Khup Hangzo
Publication Date:
08-2010
Content Type:
Working Paper
Institution:
Centre for Non-Traditional Security Studies (NTS)
Abstract:
This synthesis provides the main findings of the Food Security Expert Group Meeting which was convened by the RSIS Centre for Non-Traditional Security (NTS) Studies in Singapore on 4–5 August 2010. The Meeting brought together experts from multilateral and bilateral agencies, international and regional organisations, universities, agribusiness firms and relevant Singapore government agencies. The Meeting aimed to examine the context of urban food security relative to global food security and rural food security; explore the development of an ASEAN (Association of Southeast Asian Nations) Food Security Management Information System; assist in developing a research agenda on urban food security; and identify possible roles for Singapore in the global food system.
Topic:
Security, Agriculture, Development, and Food
Political Geography:
Singapore and Southeast Asia

5. China-Southeast Asia Relations

Author:
Robert Sutter and Chin-Hao Huang
Publication Date:
01-2010
Content Type:
Journal Article
Journal:
Comparative Connections
Institution:
Center for Strategic and International Studies
Abstract:
The last quarter of 2009 featured high-level Chinese leadership diplomacy with individual Southeast Asian countries, ASEAN, and Asian regional multilateral groups. Salient meetings involved the ASEAN Plus 1 and Asian leadership summits in Thailand in October, a presidential visit to Malaysia and Singapore, including the APEC leaders meeting in Singapore in November, and high-level visits to Australia in late October, and Myanmar and Cambodia in December. Chinese official media commentary showed some concern over recently heightened US and Japanese diplomatic activism in the region. The South China Sea disputes and military tensions along the China-Myanmar border were much less prominent than earlier in the year.
Topic:
Development and Economics
Political Geography:
China, Australia, Singapore, and Southeast Asia

6. China-Southeast Asia Relations Chronology

Publication Date:
04-2009
Content Type:
Journal Article
Journal:
Comparative Connections
Institution:
Center for Strategic and International Studies
Abstract:
No abstract is available.
Topic:
International Relations, Security, and Development
Political Geography:
China, Singapore, and Southeast Asia

7. Growth Oriented Macroeconomic Policies for Small Islands Economies: Lessons from Singapore

Author:
Anis Chowdhury
Publication Date:
04-2008
Content Type:
Working Paper
Institution:
United Nations University
Abstract:
Most small island economies or 'microstates' have distinctly different characteristics from larger developing economies. They are more open and vulnerable to external and environmental shocks, resulting in high output volatility. Most of them also suffer from locational disadvantages. Although a few small island economies have succeeded in generating sustained rapid growth and reducing poverty, most have dismal growth performance, resulting in high unemployment and poverty. Although macroeconomic policies play an important role in growth and poverty reduction, there has been very little work on the issue for small island economies or microstates. Most work follows the conventional framework and finds no or very little effectiveness of macroeconomic policies in stabilization. They also concentrate on short-run macroeconomic management with a focus almost entirely on either price stability or external balance. The presumption is that price stability and external balance are prerequisite for sustained rapid growth. This paper aims to provide a critical survey of the extant literature on macroeconomic policies for small island economies in light of the available evidence on their growth performance. Given the high output volatility and its impact on poverty, this paper will argue for a balance between price and output stabilization goals of macroeconomic policy mix. Drawing on the highly successful experience of Singapore, it will also outline a framework for growth promoting, pro-poor macroeconomic policies for small island economies/microstates.
Topic:
Development, Economics, and Government
Political Geography:
Asia, Australia/Pacific, Caribbean, and Singapore

8. Securitizing/Desecuritizing the Filipinos' 'Outward Migration Issue' in the Philippines' Relations with Other Asian Governments

Author:
José N. Franco
Publication Date:
01-2006
Content Type:
Working Paper
Institution:
Centre for Non-Traditional Security Studies, S. Rajaratnam School of International Studies
Abstract:
Today's outward migration of millions of Filipinos has rendered international borders porous and blurred the already thin-line between legal and illegal overseas workers, making both documented and undocumented migrants from the Philippines a responsibility of their government. Every case affecting Filipinos abroad, therefore, is a potential non-traditional security issue because, while migration poses no direct threat to the territorial security of sovereign states, it could threaten the survival of government if left unattended. It could make or unmake politicians, remove officials from public office, or, at worst, strain diplomatic relations between labor-sending and -receiving countries. It's also an economic issue that spills over to other related cases, such as human rights, sexual and reproductive health topics, national politics, and foreign affairs. The concept of securitization and desecuritization—as advanced by the Euro-centric Copenhagen School and adopted, with some modifications, by the Asia-centric Institute of Defence and Strategic Studies, in Singapore—is a powerful tool used by actors in identifying an existential threat to a referent object in migration cases, and in resolving the issue at hand.
Topic:
Security, Development, and Government
Political Geography:
Singapore and Southeast Asia

9. Tourism in a 'Borderless' World: The Singapore Experience

Author:
T.C. Chang
Publication Date:
05-2004
Content Type:
Policy Brief
Institution:
East-West Center
Abstract:
The development of tourist destinations that transcend national borders, first envisioned in the 1950s, gained momentum in the 1990s. Whether facilitated by large regional organizations such as the Association of Southeast Asian Nations (ASEAN) or bilateral agreements, countries—especially smaller ones— have worked to identify and leverage their neighbor's strengths. Singapore, for example, adopted a national tourism plan based on the concept of "borrowed attractiveness." It has compensated for its limited natural resources and high costs by collaborating with Indonesia and Malaysia, which contribute cheaper labor and land in exchange for infrastructure, financing, and expertise. The city-state also aggressively sells its tourism expertise overseas and aspires to be Asia's tourism hub. But Singapore's experience demonstrates that regional tourism, while diversifying tourism development opportunities, can also perpetuate inequities between wealthier and poorer collaborators and present serious challenges to businesses operating in unfamiliar settings.
Topic:
International Relations and Development
Political Geography:
Asia, Australia/Pacific, Singapore, and Southeast Asia