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Discussion Papers

Discussion Papers

FTAs, free trade agreement, Economic Integration, Trade, Globalisation, RCEP

The Story of RCEP: History, Negotiations, Structure, and Future Directions

15 August 2022

This paper is about the story of the Regional Comprehensive Economic Partnership (RCEP), including the history, dynamics of negotiations, and structure of this multilateral framework. … Read More

free trade agreement, Trade, Mega-lateral Free Trade Agreements, RCEP, CPTPP

Comparison of the Regional Comprehensive Economic Partnership (RCEP) and Other Free Trade Agreements (FTAs)

15 August 2022

This study evaluates the desirability of RCEP by comparing it with other mega-lateral FTAs. Evaluating the member-specific scale effects of the FTAs, we find that … Read More

free trade agreement, Trade, East Asia, global value chains, COVID-19

The Post COVID-19 and RCEP: Pandemic Recovery in East Asia

15 August 2022

The paper examines the impact of the Regional Comprehensive Economic Partnership (RCEP) on the COVID-19 pandemic recovery of the East Asian countries. Recent studies highlight … Read More

Australia, East Asia, RCEP, Trade, Regulation and Governance, Asian Economic Integration

Australia’s Interests in East Asia’s Regional Comprehensive Economic Partnership

05 August 2022

The Regional Comprehensive Economic Partnership (RCEP) agreement was seen as important for Australia economically and politically from its inception. RCEP economies account for roughly two-thirds … Read More

China, East Asia, RCEP, Trade, Regulation and Governance

China and the Regional Comprehensive Economic Partnership: An Economic and Political Perspective

05 August 2022

This paper studies China’s policies and participation in East Asian economic integration and cooperation. The progress of the Regional Comprehensive Economic Partnership (RCEP) is remarkable … Read More

United States, RCEP, Trade, Regulation and Governance, Asian Regionalism, TPP

Heyday of Asian Regionalism? The Implications of the Regional Comprehensive Economic Partnership for the United States

05 August 2022

This paper analyses the implications of the entry into force of the Regional Comprehensive Economic Partnership (RCEP) for the United States (US). Traditionally, trade policy … Read More

Thailand, FTAs, EEC, Investment Promotion, Investment, Trade

Changes in Trade and Investment Policies in Thailand and the Implications for Medium-term Growth

05 August 2022

This paper addresses the noticeable changes in trade and investment policies in Thailand in the new millennium and assesses their impact. These changes began with … Read More

spillover effects, Philippines, Investment

FDI Spillover Effects: Evidence from the Philippines

05 August 2022

Using firm-level data in manufacturing, this chapter examines the impact of foreign direct investment (FDI) spillover effects on domestic firm performance. Through knowledge spillovers, FDI … Read More

ASEAN, Trade, SMEs

What Determines Interfirm Trade Credit? Empirical Evidence from the ASEAN

14 June 2022

This paper empirically examines the link between the heterogeneity of firms and their probability of obtaining interfirm trade credit in Asia, with a specific focus … Read More

Finance and Macroeconomy

Prediction Errors of Macroeconomic Indicators and Economic Shocks for ASEAN Member States, 1990‒2021

30 May 2022

In this study, economic shocks on six selected Association of Southeast Asian Nations (ASEAN) Member States (i.e. Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Viet … Read More

Japan, Labour and Migration, Telework, Urban Development

COVID-19, Telework Patterns Within a City, and Changes in Urban Structure – Preliminary Findings

11 April 2022

With the coronavirus disease (COVID-19, the spread of teleworking means that people do not necessarily have to live near their place of work. Will the … Read More

Investment, Viet Nam

Entry Mode Choice and Performance of Foreign Direct Investment Firms in Emerging Economies: Micro-evidence from Viet Nam

29 March 2022

Does the right entry mode choice help foreign direct investment (FDI) firms to perform efficiently in emerging economies? This study attempts to answer this question … Read More

Infrastructure

Projecting Infrastructure Needs and the Financing Mechanism: A Review of Estimations by ADB, McKinsey, and the OECD

24 March 2022

How much does a country, a region, and the world need to spend on infrastructure development to fulfil demand? This question has been asked frequently … Read More

East Asia, Infrastructure

Implicit Subsidies for Infrastructure and Their Implications for Contingent Liabilities in Selected East Asian Countries

23 March 2022

A government's investment decision for infrastructure development is a form of budget commitment which results in direct liabilities and possible contingent liabilities. The latter is … Read More

COVID-19, Indonesia, Innovation, SMEs

Digital Technology Adoption and Indonesia’s MSMEs during the COVID-19 Pandemic

22 March 2022

The coronavirus disease (COVID-19) pandemic has hit micro, small, and medium-sized enterprises (MSMEs) hard. The estimated economic impact of COVID-19 could exceed the fiscal stimulus … Read More

East Asia, industry and manufacturing, Supply Chain

East Asian Production Networks Go Beyond the Gravity Prediction

21 March 2022

This paper provides empirical evidence that supports the continuing importance of machinery international production networks (IPNs) in East Asia. We first confirm their robustness and … Read More

Trade

Chief Executive Officer Attributes and Trade

24 February 2022

Many articles in international trade literature have shown that firm productivity is a robust determinant of firms export and import activities. Further, the literature has … Read More

Globalization, industry and manufacturing, Malaysia

Global Value Chains and Premature Deindustrialisation in Malaysia

23 February 2022

Malaysia has experienced premature deindustrialisation since the early 1990s. The decline in the relative contribution of manufacturing to the economy has been underpinned by structural … Read More

ASEAN, Finance, SMEs, Trade

Understanding SME Trade Finance in ASEAN: An Overview

22 February 2022

SMEs are the most important source of employment in all ASEAN countries, but a lack of access to external sources of finance may limit their … Read More

China, non-tariff measures, Trade

Technical Barriers to Trade, Product Quality and Trade Margins: Firm-level Evidence

07 February 2022

As tariffs have declined to a low level, the trade literature has paid increasing attention to the impact of non-tariff measures. Unlike tariffs, non-tariff measures … Read More

Competitiveness, Indonesia, Local Content Requirement, Trade

Indonesia’s Local Content Requirements: An Assessment on Consistency with Free Trade Agreement Commitments

04 February 2022

Local content requirements (LCRs) are one of several economic instruments used by governments to protect infant domestic industries or to generate employment. Indonesia has LCR … Read More

global value chains, labour productivity, microdata, SMEs, Viet Nam

Participation in Global Value Chains and Rent Sharing by Small Firms in Viet Nam

27 January 2022

It is well documented that firms that participate in global value chains (GVCs) are larger and more productive, maintaining higher profitability compared to those without … Read More

global value chains, Investment, Viet Nam

The Nexus between Inward Foreign Direct Investment and Global Value Chains in Developing Countries: A Case Study of Viet Nam

26 January 2022

In recent decades, Viet Nam, a developing economy, has significantly improved its export structure and, to some extent, its participation in global value chains (GVCs), … Read More

ASEAN, East Asia, global value chains, industry and manufacturing, Investment, Trade

Overview of Foreign Direct Investment, Trade, and Global Value Chains in East Asia

25 January 2022

This paper provides an overview of the patterns and trends of foreign direct investment (FDI) and trade as well as the formation and development of … Read More

Indonesia, Investment, Regulation and Governance

Local Content Requirements: Assessment from Investment Law

10 January 2022

Local content requirement (LCR) is one of several economic instruments used by governments for various purposes, including to protect infant domestic industries or to generate … Read More

WTO, Indonesia, Local Content Requirement

Indonesia’s Local Content Requirements: Assessment with WTO Rules

07 January 2022

Local content requirement is one of the policy measures used by many countries around the globe, including Indonesia, to protect and support their strategic sectors. … Read More

COVID-19, Indonesia, Trade

COVID-19: Impacts of Indonesia's Trade

07 January 2022

This paper analyses how the coronavirus (COVID-19) has affected Indonesia’s exports and imports, both in terms of volume and value. We use monthly trade data … Read More

Korea, manufacturing, Exports, Survival

Export Market Survival of Pioneers and Followers

20 December 2021

This study investigates empirically whether export pioneers and followers are different in terms of export market survival, utilising a rich plant-product-level dataset on Korean manufacturing … Read More

global value chains, India, manufacturing, research and development

Innovation, Product Sophistication and Export Market Survival: A Study of Indian Manufacturing

17 December 2021

The present study investigates the role of innovation on global market survival of Indian manufacturing firms. Specifically, the study examines whether research and development (R&D) … Read More

Indonesia, Globalisation, disaster resilience, Trade

Market Entry, Survival, and Exit of Firms in the Aftermath of Natural Hazard-related Disasters: A Case Study of Indonesian Manufacturing Plants

16 December 2021

By combining plant-level data from the Indonesian Manufacturing Survey and localised disaster data from the Emergency Events Database for the period 1990–2015, we were able … Read More

spillover effects, investment, Viet Nam

Spillover Effects of Foreign and Domestic Exporting Firms on Export Decisions of Local Manufacturing Firms: Evidence from Viet Nam

15 December 2021

Our paper investigates the spillover effects generated by foreign and domestic exporting firms on export decisions of local manufacturing firms in Viet Nam – … Read More

COVID-19, Indonesia, Labour and Migration, Poverty

Spillover Effects of Social and Economic Interactions on COVID-19 Pandemic Vulnerability Across Indonesia’s Regions

07 October 2021

This research study focuses on measuring the possible spillover effects of socio-economic interactions on COVID-19 pandemic vulnerability across Indonesia’s regions by utilising a spatial simultaneous … Read More

COVID-19, Education, Indonesia

Education for All? Assessing the Impact of Socio-economic Disparity on Learning Engagement During the COVID-19 Pandemic in Indonesia

06 October 2021

This paper attempts to shed light on the impact of socio-economic disparity on learning engagement during the COVID-19 pandemic in Indonesia. Utilising search intensity data … Read More

ASEAN, COVID-19, India, Supply Chain, Trade

Robustness and Resilience of Supply Chains During the COVID-19 Pandemic: Findings from a Questionnaire Survey on the Supply Chain Links of Firms in ASEAN and India

15 September 2021

Using a unique firm-level data set from the Association of Southeast Asian Nations (ASEAN) and India collected from November 2020 to February 2021, this paper … Read More

COVID-19, Indonesia, Macroeconomy, Tourism, Travel

Policy Strategies to Strengthen the Travel and Tourism Sectors from the COVID-19 Pandemic Shocks: A Computable General Equilibrium Model for the Indonesian Economy

13 September 2021

The travel and tourism sectors have become the most vulnerable sectors to the COVID-19 pandemic. Studies have shown that most tourist-destination countries will experience economic … Read More

COVID-19, industry and manufacturing, Japan, Supply Chain, Trade

Identifying the Impact of Supply Chain Disruption Caused by COVID-19 on Manufacturing Production in Japan

10 September 2021

COVID-19 has disrupted all aspects of our lives, including international trade. This paper investigates the effect of supply chain disruption on production activities, in particular … Read More

Computabe General Equilibrium, COVID-19, Macroeconomy

The Global Economic Impact of the COVID-19 Pandemic: The Second Wave and Policy Implications

09 September 2021

This paper examines the macroeconomic impact of the COVID-19 pandemic through the Computable General Equilibrium model. Due to a second wave and a subsequent delay … Read More

ASEAN, non-tariff measures, Regional Integration, Trade

Regulatory Distance, Margins of Trade, and Regional Integration: The Case of the ASEAN+5

08 September 2021

This paper measures regulatory distance in non-tariff measures (NTMs) to examine the regulatory distance patterns and how the margins of trade respond to regulatory distance … Read More

East Asia, non-tariff measures, Trade

The Trade Restrictiveness Index and Its Impact on Trade Performance in Selected East Asian Countries

07 September 2021

This paper aims to investigate the effect of non-tariff measures (NTMs) on trade in selected East Asian countries. In doing so, we first estimate the … Read More

ASEAN, Connectivity, COVID-19, Trade

COVID-19, Air Transportation, and International Trade in the ASEAN+5 Region

03 September 2021

This paper provides an in-depth description of the coronavirus disease (COVID-19) pandemic and its interactions with air transportation in the Association of Southeast Asian Nations … Read More

Aviation, Connectivity, COVID-19, healthcare

Aviation Market Development in the New Normal Post the COVID-19 Pandemic: An Analysis of Air Connectivity and Business Travel

02 September 2021

This study quantifies the effects introduced by the COVID-19 pandemic on air connectivity and passenger travel behaviour. Our analysis suggests that the pandemic has led … Read More

ASEAN, COVID-19, Finance, SMEs

COVID-19 and Regional Solutions for Mitigating the Risk of Small and Medium-sized Enterprise Finance in ASEAN Member States

19 August 2021

One of the significant challenges small and medium-sized enterprises (SMEs) face is their difficulty in accessing finance. One way to reduce the risk of lending … Read More

ASEAN, COVID-19, Macroeconomy

Central Banks' Responses to COVID-19 in ASEAN Economies

18 August 2021

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 … Read More

ASEAN, COVID-19, Regulation and Governance

A Firm-level Analysis of the Impact of the Coronavirus Outbreak in ASEAN

16 August 2021

This study examines the impact of the coronavirus pandemic on economic integration in the ASEAN-6 region. The study finds that the pandemic’s impact can be … Read More

Indonesia, China, Europe, free trade agreement framework, Investment

The EU–China Comprehensive Agreement on Investment: Lessons Learnt for Indonesia

12 August 2021

The European Union (EU) and China have recently reached an agreement: the EU–China Comprehensive Agreement on Investment (CAI). As one of the most recent investment … Read More

ASEAN, Digital Economy, East Asia, fiscal, Regulation and Governance, Taxation

Reconciling Tax and Trade Rules in the Digitalised Economy: Challenges for ASEAN and East Asia

06 August 2021

As the digital economy expands in scale, scope, and form it poses major challenges for public revenue and tax policy and administration in Asia and … Read More

ASEAN, non-tariff measures, Supply Chain, Trade

Effective Rates of Protection in a World With Non-Tariff Measures and Supply Chains: Evidence from ASEAN

05 August 2021

The concept of effective rate of protection expresses protection on a sector’s final output relative to protection affecting its inputs. As such, it is well … Read More

India, Regulation and Governance, Trade

Technical Barriers to Trade and the Performance of Indian Exporters

04 August 2021

We study the effects of technical barriers to trade (TBTs) imposed by destination markets on prices, marginal costs, and markups of Indian manufacturing exporters. Using … Read More

COVID-19, Malaysia, Tourism

Domestic Tourism as a Pathway to Revive the Tourism Industry and Business Post the COVID-19 Pandemic

27 July 2021

This research aims to explore the potential of domestic tourism as a means to revitalise the tourism industry from the perspectives of local residents and … Read More

ASEAN, Digital Economy, Digital Connectivity

Exploring Digital Economic Agreements to Promote Digital Connectivity in ASEAN

26 July 2021

This paper explores modules and articles on cooperation concerning the digital economy that are applicable for Association of Southeast Asian Nations (ASEAN) countries under certain … Read More

Air Cargo, Asia, COVID-19, Europe, global value chains, United States

Feeling the Pulse of Global Value Chains: Air Cargo and COVID-19

23 July 2021

This paper focuses on air cargo market development, with special attention to the connections between countries in Asia, the European Union, and the United States. … Read More

COVID-19, East Asia, East Asia Summit, Energy

Impacts of COVID-19 on the Energy Demand Situation of East Asia Summit Countries

12 July 2021

The coronavirus disease (COVID-19) pandemic has brought us a ‘New Normal’ life style and the lockdown has severely harmed economic growth, with many countries estimated … Read More

Australia, China, East Asia, India, Japan, New Zealand, non-tariff measures, NTM, South Korea, Trade

East Asian Integration and Its Main Challenge: NTMs in Australia, China, India, Japan, Republic of Korea, and New Zealand

11 July 2021

While East Asia has been moving forward with its regional integration agenda, one main challenge remains and is growing – non-tariff measures (NTMs). Animal, vegetable, … Read More

Australia, China, COVID-19, Regional Integration, Regulation and Governance, Trade

Economic and Emission Impact of Australia–China Trade Disruption: Implication for Regional Economic Integration

07 July 2021

This study examines the debates on supply chain resilience and the economic and emissions impact of supply chain rerouting using Australia and China trade as … Read More

COVID-19, East Asia, global value chains, Trade

Is the COVID-19 Pandemic Recasting Global Value Chains in East Asia?

06 July 2021

This paper assesses how the current COVID-19 pandemic is shaping global value chains in East Asia after the formidable disruptions inflicted by the health crisis. … Read More

COVID-19, GDP, Indonesia, Mobility, Nowcasting

Tracking the Ups and Downs in Indonesia’s Economic Activity During COVID-19 Using Mobility Index: Evidence from Provinces in Java and Bali

05 July 2021

A timely and reliable prediction of economic activities is crucial in policymaking, especially in the current COVID-19 pandemic situation, which requires real-time decisions. However, making … Read More

East Asia, global value chains, India, industry and manufacturing, Trade

Potential for India’s Entry into Factory Asia: Some Casual Findings from International Trade Data

30 June 2021

Despite its impressive economic growth in the past few decades, India is slow in adopting a task-by-task international division of labour or international production networks … Read More

ASEAN, COVID-19, global value chains, India, Supply Chain

The Impact of COVID-19 on Business Activities and Supply Chains in the ASEAN Member States and India

28 June 2021

This study uncovers the impact of the coronavirus disease (COVID-19) on the business performance, outlook, and regional supply chains of manufacturing and non-manufacturing firms in … Read More

Innovation and Technology, non-tariff measures, Trade, Viet Nam

The Effects of SPSs and TBTs on Innovation: Evidence from Exporting Firms in Viet Nam

22 June 2021

Sanitary and phytosanitary (SPS) measures and technical barriers to trade (TBTs) in destination markets may affect firms’ performance. In this paper, we examine how meeting … Read More

ASEAN, global value chains, Regulation and Governance, Trade

The Effect of Non-Tariff Measures on Global Value Chain Participation

21 June 2021

This study examines the impact of non-tariff measures (NTMs) on global value chain (GVC) participation and the underlying mechanisms. Our study employs a novel approach … Read More

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