Five growth strategies for Myanmar : re-engagement with the global economy

After decades of isolation, Myanmar is now actively re-engaging with the global economy. For successful re-engagement, Myanmar needs to implement comprehensive economic reforms based on a shared vision for long-term economic development that is characterized by human-centered, high, sustainable, pro-poor, inclusive, and balanced economic growth. In this paper, we propose five growth strategies: "Agriculture Plus Plus," an export-oriented strategy, a foreign direct investment-driven strategy, a two-polar growth strategy, and a strategy to develop domestic economic corridors. These strategies are used as guides to translate these development agendas into a set of implementable policies, programs, and projects.

Did Japanese direct investment in Korea suppress indigenous industrialization in the 1930s? : evidence from country-level factory entry patterns

Foreign direct investment (FDI) can deliver both positive and negative spillovers to the local economy. Negative effects such as crowding-out or entry-barrier effects might outweigh the positive ones when the technological gap between foreign and local firms is significant. This paper examines the impact of Japanese direct investment into Korea under colonization in the 1930s on the entry of Korean-owned factories. By using the census of manufacturing factories in Korea, we exploit variations in the share of Japanese factories and their entry rates across counties within the same subsectors. We find that within a subsector, entry rates of Korean factories were higher in counties with higher presence and entry of Japanese factories. Positive correlations are also found between subsectors. The results imply that Japanese direct investment did not suppress the entry of Korean factories and that FDI could exert positive entry spillovers on indigenous firms, even at a very early stage of industrialization.

Lebanon and the Syrian conflict 2011-2013

2011年に発生したアラブ世界での民衆蜂起は、市民としてのアラブ人が近代的で民主的な国家を建設しようとする努力であった。その意味でアラブ民衆蜂起が発生した主な原因はもっぱら国内要因であり、そこに地域的、国際的な介入が加わったのである。アラブ民衆蜂起はシリアでは内戦に発展し、その影響は現在周辺国にも及んでいる。シリアが内戦に至った要因を理解するためには、シリアとそれを取り巻く現状を理解するだけでなく，シリアという国家が持つ歴史、なかでもフランス委任統治期の分断統治政策の失敗、ハーフィズ・アサドによる独裁体制の構築と継続、イスラエルによる干渉といったシリア現代史の影響を検討することが重要である。シリア内戦はレバノン、ヨルダン、トルコなどの周辺国にも少なからぬ影響を与えている。シリア難民の流出は、レバノンとヨルダンにとって社会と経済の負荷となっている。またシリア国内の分断と混乱は、レバノンの国内宗派対立をも先鋭化させた。他方でシリア内戦が長期化するにともない、イスラエルによるシリアとレバノンへの干渉が懸念されるようになっている。シリア内戦およびそれに対するイスラエルの対応は、結果的にレバノンへの大きな圧力となった。今後レバノンが主権国家としての安定的な地位を維持するためには、シリア内戦への政治的な関与を避け，国内各勢力の融和および各勢力の協調による国家運営を進めることがこれまで以上に必要である。

Deposit dollarization in Myanmar

Myanmar has peculiar conditions of deposit dollarization that were shaped by administrative controls. On the one hand, restrictive controls encouraged the accumulation of foreign currency deposits (FCD). On the other hand, foreign currency loans (FCL) were not practiced officially; therefore, FCD was not utilized for credit. Given the adverse effects and persistence of dollarization in other dollarized economies and the recent recovery of local currency deposits in Myanmar, this paper opts for the prohibition of FCL and offers policy measures for de-dollarization.

The middle-income trap from the viewpoint of trade structures

In this study, we try to elucidate the middle-income trap from the viewpoint of international trade. We conduct regression analyses on the relationship between income level and net export ratios for different types of goods for trapped and non-trapped samples separately. Our findings indicate that industrial upgrading appears to occur exactly as depicted by the flying-geese model for non-trapped countries while trapped countries tend to depend on the export of primary commodities, and industrialization appears to be driven by forward linkages to processed goods and a narrow base. The results of our analyses suggest that the middle-income trap is a form of Dutch disease or a 'resource curse' in the middle-income stage.

Migration, labor and business in the worlding cities of the Arabian Peninsula

This short essay, built on a foundation of more than a decade of fieldwork in the hydrocarbon-rich societies of the Arabian peninsula, distills a set of overarching threads woven through much of that time and work. Those threads include a discussion of the social heterogeneity of the Gulf State citizenries, the central role of development and urban development in these emergent economies, the multifaceted impact of migrants and migration upon these host societies, and the role of foreign 'imagineers' in the portrayal of Gulf societies, Gulf values, and Gulf social norms.

Effects of RoHs and REACH regulations on firm-level production and export, and the role of global value chains : the cases of Malaysia and Vietnam

This paper uses firm-level data to examine the impact of foreign chemical safety regulations such as RoHS and REACH on the production costs and export performance of firms in Malaysia and Vietnam. This paper also investigates the role of global value chains in enhancing the likelihood that a firm complies with RoHS and REACH. We find that in addition to the initial setup costs for compliance, EU RoHS (REACH) implementation imposes on firms additional variable production costs by requiring additional labor and capital expenditures of around 57% (73%) of variable costs. We also find that compliance with RoHS and REACH significantly increases the probability of export and that compliance with EU RoHS and REACH helps firms enter a greater variety of countries. Furthermore, firms participating in global value chains have higher compliance with RoHS and REACH regulations, regardless of whether the firm is directly exporting, when the firm operates in upstream or downstream industries of the countries' supply chain.

Descriptive analysis of the knowledge network formation in East Asia

This paper shows descriptively how the knowledge network in East Asia has been formed. In addition, the correlation between the knowledge network and economic growth is also examined. Evidence is provided to show that plugging into the knowledge network of developed countries could be a key for increasing innovativeness in a country.

Excess capital and bank behavior : evidence from Indonesia

The Indonesian banking sector has been restructured since Asian financial crisis and restored to soundness. The capital adequacy ratio (CAR) returned to a sound level; however, the average excess capital has become too high, while credit disbursement has remained low. This paper investigates the determinants of excess capital among Indonesian banks and its effects on credit growth during the 2000s. The results indicate that the determinants of excess capital vary widely depending on bank type. Return on equity (ROE) affects excess capital negatively among domestic banks, and the effect of non-performing loans is mixed, differing for various bank types. Excess capital affects credit growth positively, except among foreign banks.

Sustainable development goals and Japan -- sustainability overshadows poverty reduction

The Development Cooperation Charter of Japan, which took over the ODA (Official Development Assistance) Charter in February 2015, drives Japan's cooperation towards non-poor countries and non-poverty issues. The Sustainable Development Goals (SDGs) put Japan forward in these directions. As a result, in Japan the focus on global poverty reduction is overshadowed by its national interests and sustainability under the concept of universality, which was a core principle of the SDGs as differentiated from the Millennium Development Goals.