Research Back

Finance and Macroeconomy

ERIA looks into issues related to macroeconomic policies including fiscal policies, monetary policies, international economic integrations, free trade agreements, trade barriers, trade facilitation, and international investment protection. Additionally, ERIA also investigate impacts of globalisation, economic shocks, financial crises, and foreign output shocks, among many others. Furthermore, ERIA also conducts various research on social security system, country risk, regional cooperation, market integrations, exports and imports, and many more.

Indo-Pacific, Connectivity, Trade, Global Value Chains, Supply Chain

Regional Integration in Indo-Pacific: Connectivity, Cooperation, and New Supply-Chain Linkages

31 March 2023

The evolving economic architecture in the Indo-Pacific rests squarely on the post-war construct of the Asia-Pacific, which is undergoing changes in the established patterns of … Read More

RCEP, Trade, ASEAN, Investment, Services, CGE

Impact of the Regional Comprehensive Economic Partnership (RCEP): A Global Computable General Equilibrium (CGE) Simulation

21 October 2022

This study estimates the potential economic effects of the Regional Comprehensive Economic Partnership (RCEP) by using a recursively dynamic computable general equilibrium (CGE) model, which … Read More

ASEAN, RCEP, Trade, trade liberalisation

Regional Comprehensive Economic Partnership, ASEAN’s Agency, and the Role of ASEAN Members in Shaping the Regional Economic Order

29 September 2022

The Regional Comprehensive Economic Partnership (RCEP) – a mega free trade agreement comprising 15 countries – the 10 Association of Southeast Asian Nations (ASEAN) Member … Read More

CADP, Innovation, Digital Economy, Sustainable Economy, Infrastructure, Urban Development, automotive, healthcare, Agriculture, Energy, Environment

The Comprehensive Asia Development Plan (CADP) 3.0: Towards an Integrated, Innovative, Inclusive, and Sustainable Economy

16 September 2022

The coronavirus disease (COVID-19) pandemic has caused trade disruptions; a drop in foreign direct investment; and scarring effects on poverty, education, and women in many … Read More

G20, Economy Recovery, Technology, Innovation, Trade, Investment

New Normal, New Technologies, New Financing

22 June 2022

While the coronavirus disease (COVID-19) seems to be behind us now, the scarring effects on employment, poverty, and education will last forever. Women, youth, and … 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

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

COVID-19, Finance, fiscal, Indonesia, Macroeconomy, Malaysia

Firms’ Financial Distress during the COVID-19 Pandemic and Fiscal Incentives

13 December 2021

The COVID-19 pandemic as an exogenous shock has affected the business sector by disrupting production and shrinking demand due to strict physical distancing. This study … Read More

Connectivity, Global Governance, Energy, Digital Economy, Labour and Migration, Asia, Europe, free trade agreement, Trade Facilitation

13th Asia-Europe Meeting (ASEM) Summit

11 November 2021

The Asia-Europe Meeting (ASEM) is a unique cooperation initiative, bringing in scope for transnational cooperation between Partner countries, through regional and sub-regional activities. ASEM is … 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

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, 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, 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

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

ERIA Research Summary

Summary of ERIA Research Projects 2020-2021

01 July 2021

The Summary of ERIA Research Projects 2020-2021 provides an overview of both new and ongoing projects that ERIA researchers are currently working on as of … Read More

ASEAN, COVID-19, Macroeconomy, Regional Integration

How ASEAN Can Improve Its Response to the Economic Crisis Generated by the COVID-19 Pandemic: Inputs drawn from a comparative analysis of the ASEAN and EU responses

31 May 2021

This paper conducts a comparative review of the evolution of the economic crisis generated by the coronavirus disease (COVID-19) pandemic and the responses enacted by … Read More

ASEAN, COVID-19, East Asia, Government Intervention, Macroeconomy, Stock Market

Financial Market Responses to Government COVID-19 Pandemic Interventions: Empirical Evidence from South-East and East Asia

29 April 2021

This study investigates the impact of various government interventions on the spread of COVID-19 as well as stock markets in South-East and East Asia. It … Read More

ASEAN, COVID-19, Labour and Migration, Macroeconomy

Could the COVID-19 Crisis Affect Remittances and Labour Supply in ASEAN Economies? Macroeconomic Conjectures Based on the SARS Epidemic

28 April 2021

Debates on resilience to economic shocks in the ASEAN region focus on what policymakers can do to mitigate negative impacts associated with financial-economic crises. The … Read More

routledge, Financial Inclusion, Asia

Financial Inclusion in Asia and Beyond Measurement, Development Gaps, and Economic Consequences

11 March 2021

The World Bank considers financial inclusion to be an enabler for at least 7 of the 17 United Nation’s sustainable development goals (SDGs). Financial inclusion, … Read More

Cambodia, Education, Human Capital, Innovation and Technology, innovative financing

Child Education: Rethinking Microcredit in Cambodia

16 December 2020

Conflicting and controversial conclusions about the potential effects of microcredit on socio-economic development raise concerns over the effects on child education. This study analyses the … Read More

Finance, Financial Inclusion, India, Poverty

Financial Inclusion, Active Bank Accounts and Poverty Reduction in India

30 September 2020

Using the World Bank’s Global Findex data, this research first shows that the efforts by the Indian Government and the Reserve Bank have been successful … Read More

Finance, Financial Inclusion, Indonesia

Financial Inclusion and Savings in Indonesia

29 September 2020

This paper discusses the status of financial inclusion in Indonesia and examines the impact of financial inclusion – based on availability of bank branches on … Read More

ASEAN, East Asia, Finance, Financial Inclusion, development

The Effects of Financial Inclusion on Development Outcomes: New Insights from ASEAN and East Asian Countries

24 September 2020

This study empirically examines the effects of financial inclusion on economic development, – economic growth, education, health, and income inequality – in 20 Asian countries … Read More

ASEAN, East Asia, Finance, Financial Inclusion

The Composition of Financial Inclusion in ASEAN and East Asia: A New Hybrid Index and Some Stylised Facts

24 September 2020

The paper provides an overview of the existing measures of financial inclusion and critically evaluates the two widely used existing methodologies to measure the dimensions … Read More

ASEAN, Finance, Financial Inclusion

The Nature and Landscape of Financial Inclusion in Asia

24 September 2020

This paper presents an examination of the key impacts of financial inclusion on economic prosperity and wellbeing, and on other development indicators such as those … Read More

China, Labour and Migration, Macroeconomy, Regulation and Governance, Taxation, Technology

The Value-Added Tax Reform and Labour Market Outcomes: Firm Level Evidence from China

07 August 2020

The tax incentives designed to stimulate firm investment may have a large impact on labour market outcomes. Using a comprehensive data set containing more than … Read More

COVID-19, fiscal, Supply Chain

Maintaining Fiscal Sustainability during the Pandemic Crisis

24 June 2020

Key Messages Plummeting demand for goods and services, caused by the sudden disruption in major economic activities, has set the stage for a worldwide economic … Read More

Supply Chain, Risk Management

Supply Chain Resilience: Reducing Vulnerability to Economic Shocks, Financial Crises, and Natural Disasters

26 May 2020

This book investigates individual companies’ and industries’ supply chain risk management approaches to identify risk drivers and verify effective risk-reduction measures and business continuity plans. … Read More

COVID-19, ASEAN, Economic Integration, Connectivity, Investment, trade liberalisation

COVID-19 and Southeast and East Asian Economic Integration: Understanding the Consequences for the Future

23 April 2020

Key Messages The coronavirus disease (COVID-19) pandemic poses great challenges for the economic integration of East and Southeast Asia. Much of the future of … Read More

ASEAN, East Asia, Environment, Finance, Paris Agreement, Regulation and Governance

Policies and Financing Strategies for Low-Carbon Energy Transition: Overcoming Barriers to Private Financial Institutions

14 February 2020

Placing Asian economies on a low-carbon path requires an unprecedented shift in private investment and new financing models. A growing community of investors is seeking … Read More

Paris Agreement, Low-carbon Technology, private sector, Regional Integration, innovative financing

Unlocking the Potential of Private Financing for Low-carbon Energy Transition: Ideas and Solutions from ASEAN Markets

29 January 2020

Under the Paris Agreement in 2015, the opportunities for the ASEAN Member States (AMS) to maximise low-carbon energy sources to achieve the Nationally Determined Contributions … Read More

Trade, GDP, Globalization, Income Distribution

The Economic Consequences of Globalisation in the United States

21 January 2020

The unprecedented rise in global interdependence since World War II, especially since the 1970s, has been very productive. World gross domestic product (GDP) growth increased … Read More

Finance

Navigating Low-Carbon Finance Management at Banks and Non-Banking Financial Institutions

27 August 2019

Lack of long-term financing, the existence of various risks, the low rate of return, and lack of capacity in market actors are major challenges for … Read More

global value chains, trade liberalisation, Thailand

The Impact of Global Value Chain Integration on Wages: Evidence from Matched Worker-Industry Data in Thailand

27 August 2019

Using a two-stage estimation of matched worker-industry data from 2000 to 2011, this study investigates the impact of global value chain (GVC) integration on wages … Read More

Digital Economy, ASEAN, E-commerce, routledge

Developing the Digital Economy in ASEAN

30 April 2019

This book advances the international debate on the development of e-commerce with a focus on emerging ASEAN economies. It provides readers insights on Asia’s needs … Read More

Trade, Finance, Exports

Export Dynamics and the Invoicing Currency

20 March 2019

In this paper, using finely disaggregated firm-level export data for Thailand, we examine how firms’ export experience is related to the dynamic choice of the … Read More

East Asia Updates | Quarterly Edition - December 2018

04 January 2019

2018 was a challenging year for policymakers in the East Asia region. Nonetheless, countries in the region were generally able to navigate through the … Read More

East Asia Updates | Quarterly Edition - March 2018

25 April 2018

The full year realisation of 2017 global gross domestic product (GDP) growth matches the expectation at the end of 2017. Furthermore, the global economy appears … Read More

Macroeconomy, Investment, Competitiveness

ASEAN as an FDI Attractor:
How Do Multinationals Look at ASEAN?

31 January 2017

This policy brief presents an overview of the ASEAN economy in terms of its economic relationship with multinationals, particularly Japanese companies, that have … Read More

Macroeconomy, Regulation and Governance

Financial Reforms in Myanmar and Japan's Engagement

07 November 2016

Since 2011, under the Thein Sein government, Myanmar has started to build financial institutions almost from scratch. Japan has played a leading role in this … Read More

Macroeconomy, Energy

Economic Impact of Removing Energy Subsidies in Malaysia

27 October 2016

The share of demand for fossil-fuel based energy (i.e. coal and oil) in Malaysia will remain the largest in 2035. This significant demand … Read More

Macroeconomy, SMEs

Globalization and Performance of Small and Large Firms

23 May 2016

ERIA Microdata Research FY 2013 examines whether and how globalization has differential effects on small and (or versus) large firms and aims at … Read More

industry and manufacturing, Macroeconomy

Non-Tariff Measures in ASEAN

30 April 2016

While tariffs have been reduced, the number of non-tariff measures (NTMs) continues to increase, and is often blamed as one source of the … Read More

TAME, guidelines constructing TAMEs, impact of tax administration effectiveness on tax revenues, tax administration measure effectiveness, value-added tax administrations India

Measuring Tax Administration Effectiveness and its Impact on Tax Revenue

26 April 2016

This paper proposes a method for constructing a tax administration measure of effectiveness or TAME, and describes its desirable properties. TAME was empirically constructed using … Read More

Demographic Change and Fiscal Sustainability in Asia

03 March 2016

Abstract Changes in the population age structure can have a significant effect on fiscal sustainability since they can affect both government revenue and expenditure. For … Read More

Increasing the Resilience of Asian Supply Chains to Natural Disasters: The Role of the Financial Sector

24 February 2016

Abstract The financial sector is a part of the vital infrastructure of the economy. It can play an important role in mitigating the economic dislocation … Read More

Macroeconomy, Energy

Macroeconomic Impact of Coal-Fired Power Plants

16 February 2016

Energy is critical for almost all modern economic activities and for broader human development. Yet, access to energy in middle-income countries such as … Read More

Power Grid Interconnections in East Asia: Investment in Several Key Projects Are Well Justified

28 January 2016

Abstract The recent ERIA report on 'Effective Power Infrastructure Investment through Power Grid Interconnections in East Asia' aims to support existing initiatives--the ASEAN Power Grid … Read More

Finance, East Asia, Macroeconomy, Routledge

Rebalancing Economies in Financially Integrating East Asia

30 November 2015

Since the Asian Financial Crisis (AFC) of 1997–98 large current account surpluses have accumulated in the countries of Asia and the Pacific with corresponding deficits … Read More

Macroeconomy, Regulation and Governance, Trade

Monitoring the Implementation of Services Trade Reform towards an ASEAN Economic Community

21 May 2015

Abstract This paper assesses the extent to which the Association of Southeast Asian Nations (ASEAN) Framework Agreement on Services (AFAS) is helping ASEAN member states … Read More

Low Carbon Green Growth in Asia: What is the Scope for Regional Cooperation?

09 April 2015

Abstract This paper develops a framework to assess the scope of collaboration among countries that are pursuing low-carbon green growth. Much of the policy studies … Read More

Macroeconomy, Labour and Migration

Globalization: A Woman's Best Friend? Exporters and the Gender Wage Gap

30 March 2015

While the impact of globalization on income inequality has received a lot of attention, little is known about its effect on the gender … Read More

Did China Tire Safeguard Save U.S. Workers?

30 March 2015

Abstract It has been well documented that trade adjustment costs to workers due to globalization are significant and that temporary trade barriers have been progressively … Read More

Urban Development, Macroeconomy

Transmission Channels of Economic Shocks in ASEAN

17 March 2015

This Policy Brief is based on ERIA Discussion Paper 2013-18 titled "Managing Economic Shocks and Macroeconomic Coordination in an Integrated Region: ASEAN Beyond … Read More

ASEAN, PPP

ASEAN PPP Guidelines

13 February 2015

List of Project Members Editors: � Fauziah Zen, Economist, Economic Research Institute for ASEAN and East Asia (ERIA) � Michael Regan, Professor of Infrastructure … Read More

Fiscal Policy and Equity in Advanced Economies: Lessons for Asia

27 January 2015

Abstract Advanced economies have a longer history of leveraging fiscal policy to address inequality relative to developing Asia. We examine the country experiences of the … Read More

Macroeconomy, Trade

Searching for an Ideal International Investment Protection Regime for ASEAN + Dialogue Partners (RCEP): Where Do We Begin?

17 December 2014

The members of the Association of the Southeast Asian Nation (ASEAN) and its six dialogue partners--Australia, China, India, Japan, South Korea, and New … Read More

Infrastructure

Financing ASEAN Connectivity

30 November 2014

This report gives deeper insights on how the infrastructure development is being funded in different ASEAN Member States (AMSs) for ASEAN Connectivity. In … Read More

Infrastructure, Macroeconomy

Infrastructure Investment for Power Trade and Transmission in ASEAN+2: Costs, Benefits, Long-Term Contracts, and Prioritised Development

04 November 2014

This study establishes a system approach in assessing the financial viability of power infrastructure investment for the Greater Mekong Subregion (GMS) and ASEAN … Read More

Energy, Macroeconomy, Trade

Energy Market Integration in East Asia: Energy Trade, Cross Border Electricity, and Price Mechanism

30 September 2014

Research on Energy Market Integration (EMI) has been the focus of many scholars, researchers, and leaders in the energy field as evidences, particularly in Europe … Read More

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