scholarly journals The Rise of Container Tonnage and Port Developments in East Asia

2015 ◽  
Vol 1 (2) ◽  
pp. 189 ◽  
Author(s):  
Mariner Wang
Keyword(s):  
Economic Growth ◽  
International Trade ◽  
East Asia ◽  
Container Terminals ◽  
The World ◽  
Substantial Investment ◽  
Huge Impact

1990’s saw the robust expansion of international trade in East Asia generating a remarkable record high and sustained economic growth unmatched by any other region in the world. In line with this, container tonnage in the region has been ever increased annually. In light of this, the governments in the main ports of the region have plunged substantial investment in expanding and developing new container terminals to cope with the ever increased cargoes out/to the region. Though Lehman Shock in 2008 has given a huge impact on the container volumes in Asia, ports in the East Asia are seen to continue to handle the lion’s share of global container business. In 2013, the container throughput of East Asia accounted for 51.2 per cent out of that of the world, becoming the world container center.

Institutional Change and Economic Growth in East Asia after the Asian Financial Crisis, 1997-98

2020 ◽  
Vol 35 (1) ◽  
pp. 29-51
Author(s):  
Kee Hoon Chung
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Institutional Change ◽  
East Asia ◽  
Fixed Effects ◽  
Panel Data Analysis ◽  
Institutional Quality ◽  
Asian Financial Crisis ◽  
Fixed Effects Model ◽  
The World

Theories on institutional change assert that exogenous shocks are critical in transforming path-dependent institutions. There is not much empiric research, however, that has investigated whether that is indeed the case. To fill this gap, this study investigates the effects of institutional quality on economic growth with a focus on East Asia before and after the 1997-98 Asian financial crisis, which delivered a critical shock in economic activities and institutions in East Asia. Using panel data analysis from 1981 and 2007, I investigate whether the effect of institutional quality on economic growth differed in East Asia compared to rest of the world before the crisis and whether such relationship changed after the crisis. Using two-way fixed effects model, the estimation shows that the effect of institutional quality on economic growth was positive on average for the rest of the world after the crisis but negative for East Asia. The negative coefficient was particularly strong for the three countries—South Korea, Indonesia, and Thailand—that suffered the most during the crisis. However, in the long term, there was no significant change of this negative effect.

scholarly journals COVID-19 as a Global Crisis in the New Socio-Economic Reality

2020 ◽  
Vol 10 (513) ◽  
pp. 29-35
Author(s):  
M. I. Chepeliuk ◽  
Keyword(s):  
Economic Growth ◽  
East Asia ◽  
Latin American ◽  
Economic Activity ◽  
Commodity Prices ◽  
Economic Consequences ◽  
Pacific Region ◽  
Negative Consequences ◽  
The Pacific ◽  
The World

The COVID-19 pandemic has become a challenge for the global community and has led to a sharp downturn in the economies of many countries around the world. In January 2020, the IMF said that the world is heading towards a new Great Depression, as there is a trend similar to the situation of the 1920s. Hence, according to forecasts, the rate of economic growth in East Asia and the Pacific region by the end of 2020 will decrease to 0.5% and will reach the lowest level since 1967, being a reflection of the shocks associated with the pandemic. In China, extremely restrictive measures have led to an almost complete halt in business activity in some sectors and regions. China’s economic growth is expected to slow to 1% in 2020. Economic activity in the rest of East Asia and the Pacific region is projected to decline by 1.2% in 2020 and will recover to 5.4% in 2021. The economic consequences of the COVID-19 pandemic have had a detrimental impact on the countries of Europe and Central Asia, with the overall recession to 4.7% as forecasted for 2020. In the Middle East and North Africa, a 4.2% decline in economic activity is forecasted, because of the development of the pandemic and the collapsed oil market. In South Asia, as a result of measures to mitigate the effects of pandemics and collapse of global demand, have sharply fallen the volumes of industry, services and trade activities. The effects of the pandemic and the drastic fall in global commodity prices was a crushing blow for Latin American and Caribbean countries. A sharp slowdown in the economies of U.S. and China has disrupted supply chains to Mexico and Brazil and caused a stark drop in exports from Chile and Peru. The downturn in tourism has also had negative consequences. Such statistics confirm the opinion of many leading scholars in the world that the result of the COVID-19 pandemic will be a decrease in the level of hyperglobization of the world economy. In addition, a move away from U.S.-oriented globalization and a shift toward China-oriented globalization will also be likely.

scholarly journals The Missing Economic Magic: The Failure of Trade Liberalization and Exchange Rate Devaluation in Pakistan, 1980–2012

2015 ◽  
Vol 20 (Sspecial Edition) ◽  
pp. 59-86 ◽  
Author(s):  
Matthew McCartney
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
International Trade ◽  
Exchange Rate ◽  
Trade Liberalization ◽  
World Economy ◽  
Positive Relationship ◽  
Economic Liberalization ◽  
Tax Revenue ◽  
The World

Pakistan and India were part of that wave of economic liberalization among developing countries from the late 1980s. This paper is about one aspect of that failure to ‘produce the economic magic’, in Pakistan. Pakistan substantially liberalized its international trade after the late 1980s, and contrary to some views managed its exchange rate in an exceptionally clear sighted and prudent manner. In response, Pakistan never experienced sustained and rapid export led-growth. In fact so disappointing was the performance of exports that Pakistan’s degree of integration with the world economy was little higher in 2015 than it had been in 1990. This paper first examines the exciting promise followed by the lackluster performance of trade liberalization. It establishes evidence that the exchange rate was managed in a way that should have helped a more liberalized trading regime contribute to economic growth. The paper explores wider evidence linking trade liberalization to economic growth and argues that the positive relationship is at best only a contingent one. Those contingent factors that have failed to support the positive link between trade liberalization and economic growth in Pakistan are investment, tax revenue, and upgrading/learning.

scholarly journals The Effect of Economic Digitization on Financial Inclusion and International Trade in Southeast Asia

2021 ◽  
Vol 1 (3) ◽  
pp. 115-122
Author(s):  
Rini Dwi Astuti ◽  
Purwiyanta Purwiyanta
Keyword(s):  
Economic Growth ◽  
International Trade ◽  
Southeast Asia ◽  
Rapid Development ◽  
Financial Inclusion ◽  
Analysis Tool ◽  
Vector Autoregression Model ◽  
The World ◽  
Autoregression Model ◽  
Causality Relationship

The rapid development of information technology has made economic digitization a necessity throughout the world, including Southeast Asia. This study aims to analyze the effect of economic digitization on financial inclusion and international trade using the Vector Autoregression Model analysis tool for ten countries in ASEAN for the 2017-2019 period. The results showed that international trade and financial inclusion variables could respond quickly to shocks in the variable of economic digitization. Economic growth can respond quickly to shocks in global trade variables and financial inclusion variables. There is no causal relationship between economic growth and international trade. However, there is a one-way causality relationship between economic growth and financial inclusion, where inclusion affects economic growth but not vice versa.

scholarly journals Productivity, Efficiency and Economic Growth: East Asia and the Rest of the World

2004 ◽  
Vol 37 (2) ◽  
pp. 99-118 ◽  
Author(s):  
Gaofeng Han ◽  
Kaliappa Kalirajan ◽  
Nirvikar Singh
Keyword(s):  
Economic Growth ◽  
East Asia ◽  
The World

The Rise and Fall of Peace on Earth

2021 ◽  
Author(s):  
Michael Mandelbaum
Keyword(s):  
Economic Growth ◽  
Middle East ◽  
East Asia ◽  
Recent History ◽  
Political Liberty ◽  
The World

In the twenty-five years after 1989, the world enjoyed the deepest peace in history. To be sure, wars took place in this era, but less frequently and on a far smaller scale than in previous periods. The peace ended because three major countries – Vladimir Putin’s Russia in Europe, Xi Jinping’s China in East Asia, and the Shia clerics’ Iran in the Middle East – put an end to it with aggressive nationalist policies aimed at overturning the prevailing political arrangements in their respective regions. The three leaders had a common motive: their need to survive in a democratic age with their countries’ prospects for economic growth uncertain. The key to the return of peace lies in the advent of genuine democracy, including free elections and the protection of religious, economic, and political liberty. Recent history has shown, however, that democracy cannot be imposed from the outside, leading to a paradox: the world has a formula for peace, but the world has no way to put it into practice.

Trends of Development of International Trade in Goods in 1990–2008

2011 ◽  
pp. 36-47
Author(s):  
V. Sokolov
Keyword(s):  
International Trade ◽  
Financial Crisis ◽  
North America ◽  
East Asia ◽  
Industrial Production ◽  
Western Europe ◽  
Negative Impact ◽  
Balance Of Payments ◽  
Global Crisis ◽  
The World

In today's world there are three centers of industrial production: Western Europe, North America and East Asia. These regions account for the lion's share of world exports of industrial products. The financial crisis of 2008-2009 exerted major negative impact on the growth of international trade in these products. The article examines the trade in certain branches of engineering products in 1990-2000, the influence of the global crisis on international trade, as well as the balance of payments problems of major countries and regions of the world.

The sustainability of economic development of the countries of Southeast Asia

10.12737/1732 ◽  
2013 ◽  
Vol 1 (5) ◽  
pp. 3-9 ◽  
Author(s):  
Басовский ◽  
Leonid Basovskiy ◽  
Басовская ◽  
Elena Basovskaya
Keyword(s):  
Economic Growth ◽  
Growth Rate ◽  
Economic Development ◽  
Southeast Asia ◽  
East Asia ◽  
World Economy ◽  
Turning Points ◽  
South East Asia ◽  
Economic Dynamics ◽  
The World

The method of determination of turning points of economic development and evaluation of economic dynamics. The turning points of economic development proposed to diagnose on anomalous dispersion rates of economic growth. Type the economic dynamics of the country invited to be determined by comparing the average rate of economic growth and the growth of the world economy. The risk of instability of economic dynamics are encouraged to estimate indicator, reflecting the relative variation in the pace of economic growth in comparison with the variation of the growth rate of the world economy. To determine the prospects for economic development in South-East Asia investigated the economic dynamics of Burma (Myanmar), Brunei, Vietnam, Cambodia (Kampuchea), Indonesia, Laos, Malaysia, Singapore, Thailand and the Philippines. It is established that the countries of Southeast Asia except Brunei is developing at an accelerated pace. Rates of growth of economy of these countries exceed the growth rate of the world economy. South-East Asia countries except Brunei are developing steadily. Stability and development of Vietnam and Laos exceed the level of stability of development of the world economy. Therefore, in South-East Asia should be considered to be preferable business and trade partners of Vietnam and Laos.

The U.S.-China Peace: Great Power Politics, Spheres of Influence, and the Peace of East Asia

2003 ◽  
Vol 3 (3) ◽  
pp. 351-375 ◽  
Author(s):  
Robert S. Ross
Keyword(s):  
Economic Growth ◽  
Cold War ◽  
East Asia ◽  
Great Power ◽  
Power Politics ◽  
Post Cold War ◽  
Spheres Of Influence ◽  
The World ◽  
Great Power Politics ◽  
The U.S

East Asia in the post–Cold War era has been the world's most peaceful region. Whereas since 1989 there have been major wars in Europe, South Asia, Africa, and the Middle East, and significant and costly civil instability in Latin America, during this same period in East Asia there have been no wars and minimal domestic turbulence. Moreover, economic growth in East Asia has been faster than in any other region in the world. East Asia seems to be the major beneficiary of pax Americana.

Apec: The Challenges of Asia Pacific Economic Cooperation

1995 ◽  
Vol 29 (2) ◽  
pp. 403-437 ◽  
Author(s):  
Martin Rudner
Keyword(s):  
Economic Growth ◽  
International Trade ◽  
Average Rate ◽  
Economic Recession ◽  
The Philippines ◽  
Southeast Asian ◽  
Capital Inflows ◽  
Asia Pacific ◽  
Growth Strategies ◽  
The World

International trade figures prominently in the economic growth strategies of East and Southeast Asian countries. Despite the economic recession experienced across much of the world since the early 1990s, the pace of economic growth was sustained virtually unabated in the countries of East and Southeast Asia.During the entire decade of the 1980s the East and Southeast Asian economies grew more than twice as rapidly as the rest of the world economy. Along with this growth performance, international trade in the East and Southeast Asian region increased at about twice the rate of Europe and North America. Merchandise exports in East and Southeast Asia increased at an annual average rate of 10% per annum between 1965 and 1989. In 1990 and 1991 aggregate merchandise exports from Asia's Newly Industrializing Economies (South Korea, Singapore, Taiwan and Hong Kong) grew by 9.0% and 11.4%, while the four ASEAN (Association of Southeast Asian Nations) developing countries (Indonesia, Malaysia, the Philippines, Singapore and Thailand) recorded average increases of 12.9% and 14.3%, respectively.Expanding merchandise exports were accompanied by surging capital inflows and rising investment rates, culminating in accelerated growth of Gross Domestic Product (GDP) along with a significant reduction in the incidence of poverty.

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