China, Japan and Economic Interdependence in the Asia Pacific Region

1990 ◽  
Vol 124 ◽  
pp. 662-693 ◽  
Author(s):  
Christopher Howe
Keyword(s):  
Asia Pacific ◽  
Economic Interdependence ◽  
Pacific Region ◽  
Asia Pacific Region ◽  
Long Run

China, Japan and Economic Interdependence in the Asia Pacific RegionIn expressing their gratitude for economic co-operation from Japan, Chinese leaders noted that such assistance would also be profitable to Japan in the long run. We in Japan certainly have no objection to this view. (Sakutaro Tanino, The Japan Times, 1 October 1988.)

Dynamic linkages among developed, emerging and frontier capital markets of Asia-Pacific region

2017 ◽  
Vol 14 (3) ◽  
pp. 332-351 ◽  
Author(s):  
Nisha Mary Thomas ◽  
Smita Kashiramka ◽  
Surendra S. Yadav
Keyword(s):  
Unit Root ◽  
Unit Root Test ◽  
Cointegration Analysis ◽  
Asia Pacific ◽  
Thin Body ◽  
Pacific Region ◽  
Asia Pacific Region ◽  
Content Type ◽  
Long Run ◽  
Global Investors

Purpose The purpose of this paper is to investigate the long-run equilibrium relationship between developed, emerging and frontier markets of the Asia-Pacific region during January 2000 to June 2016. Design/methodology/approach Zivot and Andrews’ unit root test is used to examine the existence of unit root in index series in the presence of a structural break. Gregory and Hansen’s test of cointegration is employed to examine the stable long-run relationship between the indices under study. Findings The results suggest that the emerging markets of China and Thailand and the frontier markets of Sri Lanka and Pakistan are fairly segmented from most of the markets in the Asia-Pacific region. Hence, these markets provide good diversification opportunities to global investors. Bidirectional cointegration analysis indicates that emerging and frontier markets influence developed markets. Hence, it can be inferred that the de facto position that only bigger markets influence small markets no longer holds true in the current environment. Practical implications The findings of this study will provide valuable inputs to global investors for creating an optimal investment portfolio. Originality/value This study does a comprehensive examination of market integration in the Asia-Pacific region. It also contributes to the thin body of work done on frontier markets. Unlike past studies, this paper analyzes the bidirectional cointegration relationship to examine if the notion that only bigger markets influence smaller markets holds true or not. Finally, this study employs advanced techniques of unit root test and cointegration test that consider structural breaks in the models.

TIME-FREQUENCY NEXUS BETWEEN BITCOIN AND DEVELOPED STOCK MARKETS IN THE ASIA-PACIFIC

2020 ◽  
pp. 1-26
Author(s):  
NGO THAI HUNG
Keyword(s):  
Equity Markets ◽  
Asia Pacific ◽  
Pacific Region ◽  
Asia Pacific Region ◽  
Causality Test ◽  
Time Frequency ◽  
Long Run ◽  
Portfolio Managers ◽  
Developed Stock Markets ◽  
Additional Support

This study investigates the connectedness between Bitcoin prices and major stock indices in the Asia-Pacific region from February 2012 to August 2019. Based on the wavelet transform framework, we find evidence of significant unidirectional association from Bitcoin to the selected markets in the short, medium, and long-run in the Asia-Pacific region. Overall, Asia-Pacific equity markets and Bitcoin cryptocurrency are weakly correlated at higher frequencies throughout the sample period, but the dependence of Bitcoin on the equity markets steadily increases at lower frequencies. Further, we construct the wavelet-based Granger causality test at different time scales to provide additional support to our connectedness results. Our findings provide important implications for policymakers, portfolio managers, and investors who are invited to take into account the dynamic linkages between Bitcoin and equity markets.

scholarly journals Crisis of Regional Leadership and Stagnation of Mega-projects in Asia-Pacific: Consequences for Russia

2019 ◽  
Vol 12 (1) ◽  
pp. 6-25
Author(s):  
A. N. Fedorovsky
Keyword(s):  
Regional Integration ◽  
The United States ◽  
Asia Pacific ◽  
Pacific Region ◽  
Asia Pacific Region ◽  
Regional Economic ◽  
Long Run ◽  
The Usa ◽  
The Republic

Analyses of modern trade and economic relations in Asia-Pacific region. Research of the roles of the United States of America and China under the conditions of protectionism initiated by the D. Tramp’s administration and stagnation of mega-projects. Crisis of leadership and role of USA and China in regional mega-project (APEC, TPP, RCPEC). Ability of the USA and the PRC to create regional economic priorities, as well as to determine the course of integration processes. Analysis of the main obstacles of realization of American and Chinese leadership potential. Regional integration project initiated by Japan, India and the Republic of Korea and prospects for Indo-Pacific Asia. China-USA competition and main trends of regional integration. Comparative study of opportunitiesand prospects for bilateral and mega-regional economic projects. As an example, observation of South Korean initiative “New Economic Map” is presented and analyzed. Role of “New Economic Forum” initiated by Bloomberg with support of global big business is examined also. Initiative of Indo-Pacific region, Japan-India economic cooperation are examined, as well as Washington policy to counterweight China foreign economic and political expansion. Analyzing of prospects and consequences of competition between USA and the PRC in Pacific regions. Main issues, opportunities and challenges of Russia’s economic expansion in Asia-Pacific region. Close interconnection between policy, security and economiccooperation in the region: influence on Russia’s Pacific priorities and diplomacy. Characteristics of some problems of Russian “East Policy” during last several years. Some arguments are presented in favor of Russia’s strategy of “policy of focused partnerships”. This kind of policy means prevail of business activity in some special projects as well as in some geographic areas. It is also stressed that it is in Russia’s long-run interests to use of all kind of diplomatic measures in order to minimize any attempts to oppose India to China. But try its best to support cooperation between Russia, China and India in Pacific, as well as in Indo-Pacific region. 

scholarly journals Revisiting Determinants of Financial Development? The Role of Financial and Monetary Freedom: Empirical Evidence from the Asia-pacific Region

2021 ◽  
Vol 15 (2) ◽  
pp. 151-175
Author(s):  
Wajid Ali ◽  
Asif Javid ◽  
Shakeel Ahmad ◽  
Nauman Ahmad ◽  
Aamir Khan
Keyword(s):  
Financial Development ◽  
Financial Services ◽  
Government Regulation ◽  
Banking System ◽  
Asia Pacific ◽  
Pacific Region ◽  
Asia Pacific Region ◽  
Long Run ◽  
Dynamic Estimation ◽  
And Control

This study aims to assess what determines/improves the overall multidimensional nature of the financial development index and its sub-indices. For this purpose, we use data over the period 1998 to 2017 for 9 countries from the Asia-Pacific region. The hypothesis of no long run relationship between variables is tested via the three-panel co-integration test i.e. Kao test, the Pedroni test, and the Johansen test. We also examine the impact of these variables on each index through long-run dynamic estimation. We utilize FMOLS and DOLS for this purpose. All the three-panel co-integration tests suggest a long-run relationship among variables. Findings from long-run dynamic estimation indicate that efficient regulation of financial services and control over prices by the government significantly influences the financial depth, financial efficiency, and financial access indices. The financial freedom index measured by regulation of financial services negatively influences the indices, suggest that too much government regulation could distort the market. Also, an increasing probability of default of the country's banking system adversely affects the sub-indices of financial development. These findings suggest that too much government regulation of financial services and control over prices along with default of country banking system could worsen the country's financial development situation and vice versa. The promulgation of prudent regulatory policies by financial regulatory institutions is the need of the time to ensure full access to financial services, soundness, and stability of the financial sector.

Portfolio selection in Asia/Pacific region-Islamic markets

2020 ◽  
Vol 11 (3) ◽  
pp. 905-928 ◽  
Author(s):  
Muhammad Hanif
Keyword(s):  
Geographic Location ◽  
Economic Cooperation ◽  
Leadership Role ◽  
Asia Pacific ◽  
Pacific Region ◽  
Asia Pacific Region ◽  
Content Type ◽  
Long Run ◽  
Important Region ◽  
Socially Responsible Investments

Purpose Islamic capital markets, i.e. ICMs, featured as socially responsible investments, less levered and more reflective of the real sector, are a recent development in financial markets showing an impressive growth and offering the potential for portfolio diversification benefits. The purpose of this study is to understand the long-run integration of ICMs in the Asia/Pacific region. Design/methodology/approach This sample includes ICMs of Asia/Pacific region (such as Pakistan, India, China, Japan, Thailand, Malaysia and Indonesia) for 280 weeks between 2011 and 2016. Selected indexes are FTSE Islamic except for Pakistan and Indonesia. Evidence was obtained through the application of correlation, unit root, Johansen cointegration and Granger causality tests. Findings This study documents the results of the integration of ICMs based on developmental stage, geographic location, economic cooperation and shared religious beliefs/civilization. Partial support was observed for all hypotheses: integration of markets based on economic grouping, location, economic treaties and shared civilization. The Japanese market was the most integrated, while the Indian and Malaysian markets are the least. Evidence supports the shift of leadership role from advanced markets to emerging markets. Practical implications Selected diversification opportunities are available for global Islamic as well as conventional investors. This study recommends closer cooperation among Muslim majority countries of the region, as well as the effective use of economic cooperation treaties for joint economic growth and prosperity. Originality/value This study contributes to the literature by providing evidence on the integration of ICMs in an economically important region (Asia/Pacific) that is witnessing an increasing role in the global gross domestic product and international trade.

Review of Counseling in the Asia-Pacific Region.

1995 ◽  
Vol 40 (4) ◽  
pp. 383-384
Author(s):  
Terri Gullickson
Keyword(s):  
Asia Pacific ◽  
Pacific Region ◽  
Asia Pacific Region
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