Abstract:This paper analyses labour migration and relocation of apparel production between Thailand and Myanmar during the first half of the 2010s. For a long time, unskilled migrant workers allowed labour-intensive industries such as the apparel sector to flourish in Thailand. However, higher costs have gradually decreased the competitiveness of the Thai garment industry, forcing implementation of industrial upgrading measures and relocation of some labour-intensive production to neighbouring countries. Conversely, Myanmar, a major source of migrant workers for Thailand, has increased its apparel exports since 2010. Using empirical evidence, this study reveals that, first, the Thai apparel industry has significantly upgraded while employing foreign workers and second, production networks between the two countries have solidified over the past decade.
{"title":"Labour Migration and Relocation of Apparel Production between Thailand and Myanmar","authors":"A. Mizuno","doi":"10.1355/ae37-2d","DOIUrl":"https://doi.org/10.1355/ae37-2d","url":null,"abstract":"Abstract:This paper analyses labour migration and relocation of apparel production between Thailand and Myanmar during the first half of the 2010s. For a long time, unskilled migrant workers allowed labour-intensive industries such as the apparel sector to flourish in Thailand. However, higher costs have gradually decreased the competitiveness of the Thai garment industry, forcing implementation of industrial upgrading measures and relocation of some labour-intensive production to neighbouring countries. Conversely, Myanmar, a major source of migrant workers for Thailand, has increased its apparel exports since 2010. Using empirical evidence, this study reveals that, first, the Thai apparel industry has significantly upgraded while employing foreign workers and second, production networks between the two countries have solidified over the past decade.","PeriodicalId":43712,"journal":{"name":"Journal of Southeast Asian Economies","volume":"37 1","pages":"181 - 198"},"PeriodicalIF":0.5,"publicationDate":"2020-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48505483","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract:This paper examines the strategic role of policymakers in shielding the interest of Malaysia’s domestic automotive producers. Policy arrangements formed by certain elites and national car makers have enabled coordination and mobilization of economic preferences in the latest version of the National Automotive Policy (NAP). Despite liberalization initiatives, the strategic role of policy actors in policy-making institutions has allowed some parties to tweak policy terms in favour of national car makers and local vendors. Although it may appear that the NAP is opening up the industry, actual pro-market reforms have been limited. This is inevitable due to the historical specificity and political considerations embedded in the country’s policy-making institutions.
{"title":"The Politics and Institutional Arrangements in Malaysia’s Automotive Industry","authors":"Firdausi Suffian","doi":"10.1355/ae37-1c","DOIUrl":"https://doi.org/10.1355/ae37-1c","url":null,"abstract":"Abstract:This paper examines the strategic role of policymakers in shielding the interest of Malaysia’s domestic automotive producers. Policy arrangements formed by certain elites and national car makers have enabled coordination and mobilization of economic preferences in the latest version of the National Automotive Policy (NAP). Despite liberalization initiatives, the strategic role of policy actors in policy-making institutions has allowed some parties to tweak policy terms in favour of national car makers and local vendors. Although it may appear that the NAP is opening up the industry, actual pro-market reforms have been limited. This is inevitable due to the historical specificity and political considerations embedded in the country’s policy-making institutions.","PeriodicalId":43712,"journal":{"name":"Journal of Southeast Asian Economies","volume":"37 1","pages":"47 - 64"},"PeriodicalIF":0.5,"publicationDate":"2020-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45238459","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract:This paper revisits the validity of the weak currency policy in Vietnam. It estimates the income and exchange rate elasticities of Vietnam’s bilateral export and import demand with its twenty-three trading partners between 1994 and 2016. The Fully Modified OLS (FMOLS) estimates suggest that the income elasticities of both export and import demand are consistently significant and more elastic with expected positive signs. Meanwhile, the exchange rate elasticities are inconsistent in terms of their size, sign and statistical significance. In general, bilateral import demand, compared to bilateral export demand, shows considerably inelastic exchange rate elasticity with signs that are opposite to expectation. Only three countries satisfy the Marshall-Lerner condition. Also, the influence of income over trade balance outweighs that of exchange rate. The weak currency policy that was once claimed to be effective is now ineffective in Vietnam as the country’s external sector is dominated by foreign-invested enterprises.
{"title":"Revisiting the Validity of the Weak Currency Policy: Evidence from Vietnam’s Export and Import Demand","authors":"Woocheol Lee","doi":"10.1355/ae37-1b","DOIUrl":"https://doi.org/10.1355/ae37-1b","url":null,"abstract":"Abstract:This paper revisits the validity of the weak currency policy in Vietnam. It estimates the income and exchange rate elasticities of Vietnam’s bilateral export and import demand with its twenty-three trading partners between 1994 and 2016. The Fully Modified OLS (FMOLS) estimates suggest that the income elasticities of both export and import demand are consistently significant and more elastic with expected positive signs. Meanwhile, the exchange rate elasticities are inconsistent in terms of their size, sign and statistical significance. In general, bilateral import demand, compared to bilateral export demand, shows considerably inelastic exchange rate elasticity with signs that are opposite to expectation. Only three countries satisfy the Marshall-Lerner condition. Also, the influence of income over trade balance outweighs that of exchange rate. The weak currency policy that was once claimed to be effective is now ineffective in Vietnam as the country’s external sector is dominated by foreign-invested enterprises.","PeriodicalId":43712,"journal":{"name":"Journal of Southeast Asian Economies","volume":"70 13","pages":"26 - 46"},"PeriodicalIF":0.5,"publicationDate":"2020-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41308448","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract:In extant social science literature, there is a presumption that development is naturally associated with deepened regional economic integration. This, however, is an argument without foundation. In the case of natural gas in Southeast Asia, what has, in fact, occurred is a process of regional disintegration. Domestic supplies of natural gas in producing countries such as Myanmar, Malaysia and Indonesia are getting increasingly constrained, and pipeline supplies to neighbouring countries are expected to dwindle or cease altogether with supply contracts not being renewed. Grand visions of the Trans-ASEAN Gas Pipeline (TAGP), the region’s most ambitious mega project, have been made redundant by technological developments, market evolution and policy preferences among key regional governments. The concept of liquefied natural gas (LNG) trading hubs, which has received significant attention in recent years, faces equally challenging hurdles. Developments in the past few years have made it apparent that the option to directly import LNG has become a preferred option among ASEAN member countries.
{"title":"ASEAN Gas Integration: A Case of Regional Disintegration","authors":"T. Doshi","doi":"10.1355/ae37-1d","DOIUrl":"https://doi.org/10.1355/ae37-1d","url":null,"abstract":"Abstract:In extant social science literature, there is a presumption that development is naturally associated with deepened regional economic integration. This, however, is an argument without foundation. In the case of natural gas in Southeast Asia, what has, in fact, occurred is a process of regional disintegration. Domestic supplies of natural gas in producing countries such as Myanmar, Malaysia and Indonesia are getting increasingly constrained, and pipeline supplies to neighbouring countries are expected to dwindle or cease altogether with supply contracts not being renewed. Grand visions of the Trans-ASEAN Gas Pipeline (TAGP), the region’s most ambitious mega project, have been made redundant by technological developments, market evolution and policy preferences among key regional governments. The concept of liquefied natural gas (LNG) trading hubs, which has received significant attention in recent years, faces equally challenging hurdles. Developments in the past few years have made it apparent that the option to directly import LNG has become a preferred option among ASEAN member countries.","PeriodicalId":43712,"journal":{"name":"Journal of Southeast Asian Economies","volume":"37 1","pages":"65 - 77"},"PeriodicalIF":0.5,"publicationDate":"2020-05-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46380216","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract:China’s accession to the WTO in 2001 and the subsequent liberalization of its FDI and trade policies have boosted the country’s exports and facilitated its improved participation in regional production networks. This paper builds on the existing literature on production networks by examining some of the recent structural changes in China’s intermediate goods trade with East Asia. Chinese policies to promote technological progress and indigenous innovation have been instrumental in bringing about such change, most of which can be captured by shifts or movements in the nation’s intra-industry trade index for intermediate goods. Two significant findings emerge from the empirical exercise: first, China is progressively reducing its reliance on import of intermediate goods for production and export; and second, the country remains integrated with East Asian economies in several technology-intensive sectors such as machinery and electronic devices.
{"title":"China’s Evolving Role in Regional Production Networks: Evidence from the ICT Industry","authors":"Sarah Chan","doi":"10.1355/ae37-1e","DOIUrl":"https://doi.org/10.1355/ae37-1e","url":null,"abstract":"Abstract:China’s accession to the WTO in 2001 and the subsequent liberalization of its FDI and trade policies have boosted the country’s exports and facilitated its improved participation in regional production networks. This paper builds on the existing literature on production networks by examining some of the recent structural changes in China’s intermediate goods trade with East Asia. Chinese policies to promote technological progress and indigenous innovation have been instrumental in bringing about such change, most of which can be captured by shifts or movements in the nation’s intra-industry trade index for intermediate goods. Two significant findings emerge from the empirical exercise: first, China is progressively reducing its reliance on import of intermediate goods for production and export; and second, the country remains integrated with East Asian economies in several technology-intensive sectors such as machinery and electronic devices.","PeriodicalId":43712,"journal":{"name":"Journal of Southeast Asian Economies","volume":"37 1","pages":"78 - 92"},"PeriodicalIF":0.5,"publicationDate":"2020-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45668853","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract:Since Đổi Mới in 1986, Vietnam has implemented a comprehensive economic renovation programme, including governance reform. As a result, the country has experienced impressive growth, mainly fuelled by rapid export expansion. This paper aims to examine the correlation between Vietnam’s export efficiency and bilateral-specific governance performance indicator during the 1996–2014 period. The results show that Vietnam’s export efficiency is positively correlated with the bilateral governance indicator and regional trade agreements, but negatively correlated with tariffs in the importing countries. The performance of Vietnam’s export efficiency also displays an overall increasing trend, with some fluctuation before 2005 and gradual rise afterwards. The country achieved high efficiency in terms of exports to all major trading partners—with the exception of China. At the disaggregated level, export efficiency in electronic equipment is very low, suggesting that there remains large unrealized export potential in this product category. Overall, these results indicate that there is plenty of room for Vietnam’s exports to grow in the future if the country can improve its efficiency in particular export products and/or markets.
摘要：自ổi Mới 1986年，越南实施了一项全面的经济革新计划，其中包括治理改革。因此，该国经历了令人印象深刻的增长，主要得益于出口的快速扩张。本文旨在检验1996-2014年期间越南出口效率与双边具体治理绩效指标之间的相关性。结果表明，越南出口效率与双边治理指标和区域贸易协定呈正相关，但与进口国关税呈负相关。越南出口效率的表现也总体呈上升趋势，2005年前有所波动，2005年后逐步上升。除中国外，中国对所有主要贸易伙伴的出口效率都很高。从分类来看，电子设备的出口效率非常低，这表明这一产品类别仍有很大的未实现出口潜力。总的来说，这些结果表明，如果越南能够提高其在特定出口产品和/或市场方面的效率，那么该国未来的出口有很大的增长空间。
{"title":"Governance and Export Performance in Vietnam","authors":"S. Nguyen, Yanrui Wu","doi":"10.1355/ae37-1a","DOIUrl":"https://doi.org/10.1355/ae37-1a","url":null,"abstract":"Abstract:Since Đổi Mới in 1986, Vietnam has implemented a comprehensive economic renovation programme, including governance reform. As a result, the country has experienced impressive growth, mainly fuelled by rapid export expansion. This paper aims to examine the correlation between Vietnam’s export efficiency and bilateral-specific governance performance indicator during the 1996–2014 period. The results show that Vietnam’s export efficiency is positively correlated with the bilateral governance indicator and regional trade agreements, but negatively correlated with tariffs in the importing countries. The performance of Vietnam’s export efficiency also displays an overall increasing trend, with some fluctuation before 2005 and gradual rise afterwards. The country achieved high efficiency in terms of exports to all major trading partners—with the exception of China. At the disaggregated level, export efficiency in electronic equipment is very low, suggesting that there remains large unrealized export potential in this product category. Overall, these results indicate that there is plenty of room for Vietnam’s exports to grow in the future if the country can improve its efficiency in particular export products and/or markets.","PeriodicalId":43712,"journal":{"name":"Journal of Southeast Asian Economies","volume":"37 1","pages":"1 - 25"},"PeriodicalIF":0.5,"publicationDate":"2020-04-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45041289","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"BOOK REVIEW: Productivity and Innovation in SMEs: Creating Competitive Advantage in Singapore and South East Asia, by Azad Bali, Peter McKiernan, Christopher Vas and Peter Waring","authors":"Toh Mun Heng","doi":"10.1355/ae37-1f","DOIUrl":"https://doi.org/10.1355/ae37-1f","url":null,"abstract":"","PeriodicalId":43712,"journal":{"name":"Journal of Southeast Asian Economies","volume":"6 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89739952","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"BOOK REVIEW: Beyond Debt: Islamic Experiments in Global Finance, by Daromir Rudnyckyj","authors":"Nafis Alam","doi":"10.1355/ae37-1h","DOIUrl":"https://doi.org/10.1355/ae37-1h","url":null,"abstract":"","PeriodicalId":43712,"journal":{"name":"Journal of Southeast Asian Economies","volume":"113 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87047095","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"BOOK REVIEW: The Sustainable State: The Future of Government, Economy and Society, by Chandran Nair","authors":"S. Rahman","doi":"10.1355/ae37-1g","DOIUrl":"https://doi.org/10.1355/ae37-1g","url":null,"abstract":"","PeriodicalId":43712,"journal":{"name":"Journal of Southeast Asian Economies","volume":"81 3 1","pages":""},"PeriodicalIF":0.5,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"76041209","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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