• Asian Journal of Innovation and Policy
• /
• v.7 no.1
• /
• pp.131-149
• /
• 2018

Multinational corporations (MNCs) leverage global locations for efficient production and sustained growth, and move significant foreign direct investments globally, particularly into emerging economies. MNCs also engage in entrepreneurial ecosystems of host countries for strategic benefits and impact the ecosystem as well. Of late, MNCs are increasingly entering into emerging economies like India through foreign direct investment (FDI) inflows and they are playing a vital role in start-up promotion in the entrepreneurial ecosystem. Therefore, we examine the role of MNCs and its impact on the entrepreneurial ecosystems in India by exploring a symbiotic relationship between MNCs and startups. We use a case-based method to ascertain and analyze specific benefits that emerge from such symbiotic relationships and draw implications for startups in India's technology entrepreneurial ecosystem.

• Asian Journal of Innovation and Policy
• /
• v.7 no.3
• /
• pp.511-533
• /
• 2018

As the developed and developing economies make the transition to knowledge-based economies, the high-tech sector has been the primary engine in enabling this transformation. Given this context, the policy making and implementation abilities of the countries' local administration assume significance. This study therefore attempts to examine the policy evolution undertaken by China and India which resulted in the emergence of high-tech startup ecosystems in these countries. Further, using a theoretical framework for an ideal entrepreneurial ecosystem, it tries to understand the similarities and differences prevalent currently in the Indian and Chinese high-tech startup ecosystem. The results of the study indicate that although both the countries took different paths, from a macro-perspective, they follow the same pattern as observed in the US and Israel policy making - that of the change in the role of Government as a regulator to that of an enabler of the entrepreneurial ecosystem. The differences and similarities between the key entrepreneurial ecosystem components provide additional knowledge about the currently prevailing conditions of the ecosystem in these countries.

• Asian Journal of Innovation and Policy
• /
• v.12 no.2
• /
• pp.155-176
• /
• 2023

This paper employs datasets from the Enterprise Survey conducted by the World Bank to examine the relationship between four types of innovation defined by the Oslo Manual (OECD, 2005): product innovation, process innovation, marketing innovation, organization innovation, and the firm performance in the selected developing ASEAN economies. The main objective of this paper is to understand the characteristics of innovation activities at the firm level and how various innovation types affect firm performance. The empirical results from ASEAN manufacturing firms reveal that product innovation positively affects firms' performance, while non-technological innovations are negatively related to the performance of firms. The further employed quantile regression provides more insights into the roles of innovation types on different levels of firm performance: while product and process innovations actively contribute to the small and medium-size firms (below 25^th quantile and median), organizational and marketing innovations negatively affect them. Interestingly, the role of process innovation decreases when firm performance grows.

• East Asian Economic Review
• /
• v.22 no.2
• /
• pp.117-140
• /
• 2018

WTO was established in 1995 and as many as 36 new members joined WTO until December 2017. Thus it would be interesting to see if new members have committed higher or lower levels of market opening compared to the original members. In this regard, a sophisticated scoring scheme is needed to quantify market opening commitments. After proper econometric model is established for the original members, same model can be applied to the new members for comparison. It was found that new members committed a much higher level of commitment than the original members. In addition, it was also found that transition economies committed higher levels than the non-transition economies. More interesting finding is that among the new members, the larger the economies or the larger the trading volume are, the closer was the level of commitment to the predicted level. Then the question is whether this difference was due to benign neglect by the new members or due to malign select by the original members.

• Pallet News
• /
• s.70
• /
• pp.8-19
• /
• 2013

본 원고는 지난 2013년 7월 17일 일본 동경 'Mielparque Tokyo'에서 열린 2013 제8회 APSF(Asia Pallet System Federation) 총회 기조강연으로 일본 동경대학교의 Kazuyuki Motohashi 교수가 발표하였습니다.

• International Area Studies Review
• /
• v.16 no.3
• /
• pp.53-73
• /
• 2012

In this study we investigate the ability of the yield spread to predict economic recessions in two Asian economies. For our purpose we use the data from two emerging economies (South Korea and Thailand) that are also known for their openness in terms of exports and imports. We employ both two-regime Markov-Switching model (MS) and three-regime MS model to estimate the probability of recessions during Asian crisis. We found that the yield spread is confirmed to be a reliable recession predictor for Thailand but not for South Korea. The three-regime MS model is better for capturing the Asian financial crisis than two-regime MS model. We also tried to find the duration of economic expansions and recessions. We tested the hypothesis of asymmetric movements of business cycles. The MS results are also compared with that of the standard probit model for comparison. The MS model does not significantly improve the forecasting ability of the yield spread in forecasting business cycles.

• International Area Studies Review
• /
• v.14 no.2
• /
• pp.61-78
• /
• 2010

The paper is basically attempted to reveal a possibility of monetary unification and setting an anchor currency in North East Asian economies such as South Korea, China, and Japan. The Cobb-Douglas utility function is tentatively built by a Walrasian economic framework. Korean Won(KRW) is represented for a numeraire in a structural model, and the estimation of a parameter is performed by 2SLS and GARCH-M models. Empirical evidence is found that not only monetary unification itself in this regime seems not to be practicable, but also setting an anchor currency by Chinese Yuan(CNY) or Japanese Yen(JPY) is also inappropriated due to the fact that the estimated parameter is not converged to a unity. Walrasian equilibria are enhanced by the convergence to a unity in the model. It also has to be mentioned that a number of necessary and sufficient conditions should be fulfilled prior to discuss a monetary unification in North East Asian economies. Instead, Asia currency unit(ACU) is more feasible in reality.

• East Asian Economic Review
• /
• v.24 no.3
• /
• pp.207-235
• /
• 2020

Acknowledging that individuals dislike having low relative income renders trade less attractive when seen as a technology that integrates two economies by merging separate social spheres into one. We define a "trembling trade" as a situation in which gains from trade are less than losses in relative income, with the result that global social welfare is reduced. We show that a "trembling trade" can arise even when trade is more gainful in four ways: through trade the absolute income of everyone increases, the income gap in both economies is reduced, as is the income gap between the trading economies. However, trade brings populations, economies, or markets that were not previously connected closer together in social space. As a consequence, separate social spheres merge, and people's social space and their comparators are altered. Assuming that people like high (absolute) income and dislike low relative income, the aggregate increase in unhappiness caused by the trade-induced escalation in relative deprivation can result in a negative overall impact of trade on (utilitarian-measured) social welfare, if the absolute income gains are not large enough to mitigate the relative income losses.

• The Journal of Asian Finance, Economics and Business
• /
• v.10 no.1
• /
• pp.133-143
• /
• 2023

The detrimental impacts of financial instability on the world economy during the financial crisis highlighted the requirement to understand the existing financial circumstances. Stability and developments in financial conditions are important for economic prosperity. This study analyses the impact of geopolitical risk on the economic conditions of some specific emerging economies using monthly data from January 1999 to September 2016 by applying a fixed-effects panel data model. The estimation results demonstrated that geopolitical risk has a significant, negative impact on financial conditions. It shows geopolitical risk could be seen as a key factor that contributes towards financial conditions. Further, it implies that negative shocks of high geopolitical risk experienced by emerging economies are one of the primary reasons for the financial conditions' deterioration. The findings provide important insights for governments, policymakers, and investors. For instance, governments and politicians should refrain from expressing or producing tension, economic discomfort, or news that is likely to increase a high geopolitical risk. Maintaining a close eye on geopolitical risk and its sources may also help to stabilize financial conditions and develop a well-functioning financial system. As a result, investors would be better informed about an economy's economic and financial conditions, allowing them to diversify their international portfolios and devise investing strategies during uncertain economic times.

• Land and Housing Review
• /
• v.4 no.1
• /
• pp.23-31
• /
• 2013

The regional economic crises in the late 1990s and the global economic crisis in the late 2000s had reduced the differences in housing policies among the major Asian economies. This paper attempts to explain and compare housing welfare policy shifts between subsidizing home owning and subsidized renting from the perspectives of the economic and social roles of housing, the lock-in effect of policy processes, and the welfare provision strategy of the East Asian economies. It argues that the impact of economic crises on housing welfare policy in East Asia depended on the duration and the intensity of the crisis and the length and severity of the subsequent economic depression. Another important factor was the role of housing in the economic and social development, especially whether housing market development was considered as an engine of economic growth or revival, and whether the tools of housing policy caused the economic crisis. The loss of impetus for home ownership drive and the new emphasis on rental subsidy provision are new policy trends. Nonetheless, the economic revival since mid-2009 has caused the re-introduction of home ownership subsidies for quenching the housing affordability problems and enhancing home ownership making use of the strong economic conditions.