Technological progress may be less beneficial for older workers than younger workers. In this paper, we empirically examine the relationship between technological change and the wage share of old workers. More specifically, we look at five different types of technological advancement using data from 30 European and Asian countries at the forefront of global population aging. Our findings indicate that recent technological developments centered on information and communication technology, software, and robots do not adversely affect old workers. One possible explanation is that old workers may be more open to and capable of learning new technologies than widely presumed.
{"title":"Technological Progress and Wage Share of Old Workers","authors":"Donghyun Park, Kwanho Shin","doi":"10.1162/asep_a_00895","DOIUrl":"https://doi.org/10.1162/asep_a_00895","url":null,"abstract":"\u0000 Technological progress may be less beneficial for older workers than younger workers. In this paper, we empirically examine the relationship between technological change and the wage share of old workers. More specifically, we look at five different types of technological advancement using data from 30 European and Asian countries at the forefront of global population aging. Our findings indicate that recent technological developments centered on information and communication technology, software, and robots do not adversely affect old workers. One possible explanation is that old workers may be more open to and capable of learning new technologies than widely presumed.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2024-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140658945","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Kangyin Dong, Jianda Wang, Congyu Zhao, Farhad Taghizadeh-Hesary, Han Phoumin
Using a panel data set from 2007 to 2019, we empirically evaluate the impact of carbon capture, utilization, and storage (CCUS) technology innovation on green total factor productivity (GTFP). The findings show that (1) CCUS technology innovation significantly improves GTFP. (2) CCUS technology innovation significantly contributes to GTFP by promoting industrial structure upgrading and carbon emissions efficiency. (3) Environmental regulation plays a positive moderating role in the nexus between CCUS technology innovation and GTFP. The findings of this paper provide guidance for China to achieve green energy transition and build a green energy system.
{"title":"Toward a Green Energy System: How Does Carbon Capture, Utilization, and Storage Technology Innovation Promote Green Total Factor Productivity?","authors":"Kangyin Dong, Jianda Wang, Congyu Zhao, Farhad Taghizadeh-Hesary, Han Phoumin","doi":"10.1162/asep_a_00892","DOIUrl":"https://doi.org/10.1162/asep_a_00892","url":null,"abstract":"\u0000 Using a panel data set from 2007 to 2019, we empirically evaluate the impact of carbon capture, utilization, and storage (CCUS) technology innovation on green total factor productivity (GTFP). The findings show that (1) CCUS technology innovation significantly improves GTFP. (2) CCUS technology innovation significantly contributes to GTFP by promoting industrial structure upgrading and carbon emissions efficiency. (3) Environmental regulation plays a positive moderating role in the nexus between CCUS technology innovation and GTFP. The findings of this paper provide guidance for China to achieve green energy transition and build a green energy system.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2024-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140656138","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This study examines the influence of demographic changes on India's economic growth from 1999 to 2019, emphasizing the impact of the rising working-age population on state domestic product per capita and sectoral value-added. While the overall influence of the working-age population ratio and core working-age proportions on per capita economic growth is limited, a higher proportion of high-skilled workers and urban residents positively affects per capita output. Furthermore, our analysis highlights sector-specific effects, with particular significance observed in the industry sector, where the influence of the working-age population is most pronounced.
{"title":"Weakening Demographic Dividend in India","authors":"Yoon Jae Ro, Jiwon Park","doi":"10.1162/asep_a_00896","DOIUrl":"https://doi.org/10.1162/asep_a_00896","url":null,"abstract":"\u0000 This study examines the influence of demographic changes on India's economic growth from 1999 to 2019, emphasizing the impact of the rising working-age population on state domestic product per capita and sectoral value-added. While the overall influence of the working-age population ratio and core working-age proportions on per capita economic growth is limited, a higher proportion of high-skilled workers and urban residents positively affects per capita output. Furthermore, our analysis highlights sector-specific effects, with particular significance observed in the industry sector, where the influence of the working-age population is most pronounced.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2024-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140657069","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper examines the impact of the current U.S.–China trade war on Malaysia. Malaysia's neutral stance leaves possibilities open for trade and investments from both sides. Our survey shows that the negative impacts have been minimal so far. The country seeks to capitalize on the trade war by promoting local industries that are substitutable to those from the United States and China. Efforts to improve competitiveness by improving physical and digital infrastructure, facilitating small and medium-sized enterprises to export, and promoting potential domestic suppliers are being made to ensure favorable conditions to receive foreign direct investment relocating from China or the United States. Malaysia is also cooperating with its regional partners to further mitigate the effects of the trade war. Malaysia may, however, be its own greatest enemy in capitalizing from the trade war because the decline in human capital is making it difficult to harness the benefits from upcoming deglobalization headwinds.
{"title":"Malaysia's Response to the U.S.–China Trade War","authors":"Andrew Jia-Yi Kam","doi":"10.1162/asep_a_00899","DOIUrl":"https://doi.org/10.1162/asep_a_00899","url":null,"abstract":"\u0000 This paper examines the impact of the current U.S.–China trade war on Malaysia. Malaysia's neutral stance leaves possibilities open for trade and investments from both sides. Our survey shows that the negative impacts have been minimal so far. The country seeks to capitalize on the trade war by promoting local industries that are substitutable to those from the United States and China. Efforts to improve competitiveness by improving physical and digital infrastructure, facilitating small and medium-sized enterprises to export, and promoting potential domestic suppliers are being made to ensure favorable conditions to receive foreign direct investment relocating from China or the United States. Malaysia is also cooperating with its regional partners to further mitigate the effects of the trade war. Malaysia may, however, be its own greatest enemy in capitalizing from the trade war because the decline in human capital is making it difficult to harness the benefits from upcoming deglobalization headwinds.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2024-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140657451","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Comments by Yeow Hwee Chua, on Weakening Demographic Dividend in India","authors":"","doi":"10.1162/asep_a_00898","DOIUrl":"https://doi.org/10.1162/asep_a_00898","url":null,"abstract":"","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2024-04-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"140657105","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
We discuss the reasons for the introduction of the Goods and Services Tax (GST) in Malaysia, its subsequent abolition, and the factors to consider if it is to be reinstated. The GST was implemented hastily to rein in mounting government deficits and debt. The lack of preparation to address its impact on the general price level, and incomes of poorer households in an economy already predisposed to inflation, led to widespread public discontent. The high compliance costs borne by smaller firms, delays in providing tax refunds to businesses, and the wasteful use of the additional revenues the tax generated strengthened the anti-GST sentiment. Any attempt to bring back the GST must focus on gaining acceptance rather than the revenue it generates. This is best achieved by timing its reintroduction correctly, keeping the rate low, the base broad, and implementing parallel measures to supplement the incomes of households seriously undermined by the tax on the consumption side. Additionally, addressing leakages, waste, and corruption in the public sector will strengthen public acceptance of the tax and instill confidence in public sector fiscal management.
{"title":"The Untimely Demise of the Goods and Services Tax (GST) in Malaysia: A Postmortem and the Way Forward","authors":"Suresh Narayanan, Abdul Rais Abdul Latiff","doi":"10.1162/asep_a_00883","DOIUrl":"https://doi.org/10.1162/asep_a_00883","url":null,"abstract":"\u0000 We discuss the reasons for the introduction of the Goods and Services Tax (GST) in Malaysia, its subsequent abolition, and the factors to consider if it is to be reinstated. The GST was implemented hastily to rein in mounting government deficits and debt. The lack of preparation to address its impact on the general price level, and incomes of poorer households in an economy already predisposed to inflation, led to widespread public discontent. The high compliance costs borne by smaller firms, delays in providing tax refunds to businesses, and the wasteful use of the additional revenues the tax generated strengthened the anti-GST sentiment. Any attempt to bring back the GST must focus on gaining acceptance rather than the revenue it generates. This is best achieved by timing its reintroduction correctly, keeping the rate low, the base broad, and implementing parallel measures to supplement the incomes of households seriously undermined by the tax on the consumption side. Additionally, addressing leakages, waste, and corruption in the public sector will strengthen public acceptance of the tax and instill confidence in public sector fiscal management.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2024-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139446091","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Comments by Nam Seok Kim, on The Untimely Demise of the Goods and Services Tax (GST) in Malaysia: A Postmortem and the Way Forward","authors":"","doi":"10.1162/asep_a_00884","DOIUrl":"https://doi.org/10.1162/asep_a_00884","url":null,"abstract":"","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2024-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139446052","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Comments by Masahiro Endoh, on Change from COVID-19 Pandemic to a New Normal: Documenting Consumption Behavior of Two Years with Big Data","authors":"","doi":"10.1162/asep_a_00877","DOIUrl":"https://doi.org/10.1162/asep_a_00877","url":null,"abstract":"","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2024-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139445929","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The intensified geopolitical tension in Northeast Asia and the U.S.–China confrontation have shifted policy debates in Japan toward national security while the economic discussion has become thin. To regain more balanced policy talks, this paper tries to quantitatively comprehend the effect of the United States and its allies’ export controls on the East Asian machinery production networks and Japan's trade performance. Major findings include the following four points: First, most of the supply chain decoupling policies by the Japanese government have been the ones to prepare for sudden interruptions of the supply of important items while decoupling policies for strategic competition are limited only in the context of the cooperation with the United States. Second, international trade statistics at the industry level do not show clear evidence of supply chain decoupling in East Asia due to the U.S. export controls, at least up to 2022. Third, however, the negative trade effect becomes visible at the product or individual firms’ level, and the recent strengthening of the United States and its allies’ export controls may augment the negative effect on machinery production networks. Fourth, although the scope of trade controls would expand further, the supply chain decoupling is likely to end up with a partial one. The paper claims that middle powers such as Japan must establish a well-balanced trade policy.
{"title":"The Threat of Economic Deglobalization from Cold War 2.0: A Japanese Perspective","authors":"M. Ando, Kazunobu Hayakawa, F. Kimura","doi":"10.1162/asep_a_00875","DOIUrl":"https://doi.org/10.1162/asep_a_00875","url":null,"abstract":"\u0000 The intensified geopolitical tension in Northeast Asia and the U.S.–China confrontation have shifted policy debates in Japan toward national security while the economic discussion has become thin. To regain more balanced policy talks, this paper tries to quantitatively comprehend the effect of the United States and its allies’ export controls on the East Asian machinery production networks and Japan's trade performance. Major findings include the following four points: First, most of the supply chain decoupling policies by the Japanese government have been the ones to prepare for sudden interruptions of the supply of important items while decoupling policies for strategic competition are limited only in the context of the cooperation with the United States. Second, international trade statistics at the industry level do not show clear evidence of supply chain decoupling in East Asia due to the U.S. export controls, at least up to 2022. Third, however, the negative trade effect becomes visible at the product or individual firms’ level, and the recent strengthening of the United States and its allies’ export controls may augment the negative effect on machinery production networks. Fourth, although the scope of trade controls would expand further, the supply chain decoupling is likely to end up with a partial one. The paper claims that middle powers such as Japan must establish a well-balanced trade policy.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2024-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139447711","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Although Chinese exports to the United States hit an all-time high in 2022, it would be incorrect to conclude that the U.S.–China trade war had no effects on trade. By exploiting fine product-level information on trade war tariffs, this paper demonstrates how the trade war diminished China's exports to the United States in tariff-impeded products, while expanding opportunities for exports from other countries in a fashion that had some systematic characteristics. First, the impact of the trade war tariffs was not immediate, as trade responses took place with a lag. Second, the responses to trade-war tariffs were heterogenous across countries and regions, with finer distinctions by product categories. Finally, trade that could be viewed as highly tied to global value chains (GVCs), such as trade in information and communication technology products, exhibited stronger reactions to the imposition of trade-war tariffs. These responses, and their implications for the organization of global supply chains, are discussed considering current trade concerns.
{"title":"Trade-war Tariffs and Supply Chain Trade","authors":"Deborah L. Swenson","doi":"10.1162/asep_a_00885","DOIUrl":"https://doi.org/10.1162/asep_a_00885","url":null,"abstract":"\u0000 Although Chinese exports to the United States hit an all-time high in 2022, it would be incorrect to conclude that the U.S.–China trade war had no effects on trade. By exploiting fine product-level information on trade war tariffs, this paper demonstrates how the trade war diminished China's exports to the United States in tariff-impeded products, while expanding opportunities for exports from other countries in a fashion that had some systematic characteristics. First, the impact of the trade war tariffs was not immediate, as trade responses took place with a lag. Second, the responses to trade-war tariffs were heterogenous across countries and regions, with finer distinctions by product categories. Finally, trade that could be viewed as highly tied to global value chains (GVCs), such as trade in information and communication technology products, exhibited stronger reactions to the imposition of trade-war tariffs. These responses, and their implications for the organization of global supply chains, are discussed considering current trade concerns.","PeriodicalId":52020,"journal":{"name":"Asian Economic Papers","volume":null,"pages":null},"PeriodicalIF":9.7,"publicationDate":"2024-01-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139445263","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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