scholarly journals Islamic Dimensions of the East Asian Economic Miracle

1999 ◽  
Vol 16 (4) ◽  
pp. v-xvii
Author(s):  
M. A. Muqtedar Khan
Keyword(s):  
Social Sciences ◽  
East Asia ◽  
Critical Review ◽  
East Asian ◽  
Theory And Practice ◽  
Islamic Philosophy ◽  
Economic Miracle ◽  
Asian Economies ◽  
East Asian Economies ◽  
Growing Region

in PerspectiveThis editorial seeks to identify the missing dimensions of Islamic economicsand the Islamic dimensions of East Asian economies. In doing so,it advances a critical review of the present discourse on Islamic economicsand highlights some of its oversights. At the outset, it must be clearlyunderstood that I am not critical of the very idea of an Islamic economics.I think that at a time when global intellectual leadership has been usurpedby those who consciously subvert the idea of the divine and the role ofdivine mandates in the organization and governance of human affairs,Islamic economics, like Islamic philosophy and Islamic social sciences, hassucceeded in at least presenting a paradigmatic alternative that still maintainesthe centrality of transcendence in human existence.While I am all for sustaining the resistance to secularization of all knowledges,I am critical of the current discourse on Islamic economics becauseof its disconnection between theory and practice and because, for reasonsthat have not been explored systematically but are intuitively discernable,it has made Islamic economics synonymous with' interest-free banking.Many important elements of Islamic economics are completely ignored oreven suppressed. Perhaps this may be a reason why Islamic economieshave not really materialized. The importance of these less studied principlescan be discerned by studying how they have played a cardinal role inthe world's fastest growing region, East Asia. I intend to show how EastAsian economies have institutionalized Islamic principles in their contemporaryeconomic practices and are harvesting great benefits. It is ironic that ...

Contribution of Financial Conditions to Successful Industrialization in East Asia

1998 ◽  
Vol 01 (03) ◽  
pp. 419-435
Author(s):  
H. Peter Gray ◽  
Thomas A. Fetherston
Keyword(s):  
East Asia ◽  
Economic Performance ◽  
East Asian ◽  
Economic Success ◽  
Financial Variables ◽  
Financial Conditions ◽  
Asian Economies ◽  
East Asian Economies

The economic success of the East Asian economies has been undisputable. In analyses of these accomplishments, attention has been given to virtually everything but the role of what are broadly interpreted as financial variables. This paper develops the contributions of financial phenomena to the East Asian success and argues that favorable financial conditions are necessary, but not sufficient for good long-term economic performance.

scholarly journals Exchange Rates Under The East Asia Dollar Standard: The Future Of East Asian Economies

2011 ◽  
Vol 6 (3) ◽  
Author(s):  
Ordean Olson
Keyword(s):  
Exchange Rate ◽  
Business Cycle ◽  
East Asia ◽  
East Asian ◽  
Asian Countries ◽  
Economic Stability ◽  
Dollar Exchange Rate ◽  
Asian Economies ◽  
The Business Cycle ◽  
East Asian Economies

The effects of fluctuations in the yen/dollar exchange rate on the business cycle of the smaller East Asian economies are examined in this paper. The cointegration error-correction model is employed to examine the nature of the interrelationship between the yen/dollar exchange rate and the economic stability of the East Asian countries. The empirical results reveal strong and lasting effects of changes in the yen/dollar exchange rate on the economic income and exchange rate stability of the East Asian countries. The results also indicate that stabilizing the yen/dollar exchange rate with the East Asian business cycle would benefit Japan as well as the economies of East Asia.

Trump victory threatens East Asian economies

2016 ◽  
Keyword(s):  
East Asia ◽  
East Asian ◽  
Content Type ◽  
Asian Economies ◽  
East Asian Economies

Headline EAST ASIA: Trump victory threatens region's economy

scholarly journals Are Family Firms More Levered? An Analysis of Family and Non-Family Firms

SAGE Open ◽  
2021 ◽  
Vol 11 (2) ◽  
pp. 215824402110223
Author(s):  
Jahanzaib Haider ◽  
Abdul Qayyum ◽  
Zalina Zainudin
Keyword(s):  
Family Firms ◽  
East Asian ◽  
Ordinary Least Squares ◽  
Maturity Structure ◽  
The Family ◽  
Asian Economies ◽  
The Board Of Directors ◽  
East Asian Economies ◽  
Combined Data

This study analyzes the leverage policies of the family and non-family firms of eight East Asian Economies (Hong Kong, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore, and Taiwan) by using combined data of 690 family and non-family firms with 3,224 firm–years over the period 2006–2010. This study has used an ordinary least squares (OLS) regression for analyzing the data for the first question, while for the second question, logit regression has been used as the dependent variable (a binary variable). Prior research on family and non-family firms has revealed that family firms issue less (high) debt than non-family firms. Our analysis on a sample of East Asian Economies discloses that family firms have significantly different leverage levels than non-family firms, but their signs are not consistent. On the contrary, when the owner works as CEO/Chairman or member of the Board of Directors, then the family firms issue less debt than the non-family firms. Besides that, this study adds a new question that has not been addressed in the prior studies. The new question has focused on the speed of leverage adjustment. It is found that family firms and non-family firms regarding their debt maturity structure (short-term debt and long-term debt), the speed of leverage adjustments, and their decision to issue securities (i.e., debt vs. equity) are not significantly different. This study concluded that though family firms have a strong influence on each economy, but in South-East Asian countries, leverage policies of the family firms are not much different than that of non-family firms.

scholarly journals Exchange Rate Volatility and Exports: New Empirical Evidence from the Emerging East Asian Economies

World Economy ◽  
2010 ◽  
Vol 33 (2) ◽  
pp. 239-263 ◽  
Author(s):  
Myint Moe Chit ◽  
Marian Rizov ◽  
Dirk Willenbockel
Keyword(s):  
Exchange Rate ◽  
Empirical Evidence ◽  
East Asian ◽  
Exchange Rate Volatility ◽  
Asian Economies ◽  
East Asian Economies

Economic Implications of Asian Integration

2008 ◽  
Vol 8 (3) ◽  
pp. 1850139 ◽  
Author(s):  
Joseph F. Francois ◽  
Ganeshan Wignaraja
Keyword(s):  
East Asia ◽  
South Asian ◽  
Regional Integration ◽  
East Asian ◽  
The South ◽  
Economic Implications ◽  
Spider Web ◽  
Integration Schemes ◽  
Asian Economies ◽  
Northeast Asian

The Asian countries are once again focused on options for large, comprehensive regional integration schemes. In this paper we explore the implications of such broad-based regional trade initiatives in Asia, highlighting the bridging of the East and South Asian economies. We place emphasis on the alternative prospects for insider and outsider countries. We work with a global general equilibrium model of the world economy, benchmarked to a projected 2017 sets of trade and production patterns. We also work with gravity-model based estimates of trade costs linked to infrastructure, and of barriers to trade in services. Taking these estimates, along with tariffs, into our CGE model, we examine regionally narrow and broad agreements, all centered on extending the reach of ASEAN to include free trade agreements with combinations of the northeast Asian economies (PRC, Japan, Korea) and also the South Asian economies. We focus on a stylized FTA that includes goods, services, and some aspects of trade cost reduction through trade facilitation and related infrastructure improvements. What matters most for East Asia is that China, Japan, and Korea be brought into any scheme for deeper regional integration. This matter alone drives most of the income and trade effects in the East Asia region across all of our scenarios. The inclusion of the South Asian economies in a broader regional agreement sees gains for the East Asian and South Asian economies. Most of the East Asian gains follow directly from Indian participation. The other South Asian players thus stand to benefit if India looks East and they are a part of the program, and to lose if they are not. Interestingly, we find that with the widest of agreements, the insiders benefit substantively in terms of trade and income while the aggregate impact on outside countries is negligible. Broadly speaking, a pan-Asian regional agreement would appear to cover enough countries, with a great enough diversity in production and incomes, to actually allow for regional gains without substantive third-country losses. However, realizing such potential requires overcoming a proven regional tendency to circumscribe trade concessions with rules of origin, NTBs, and exclusion lists. The more likely outcome, a spider web of bilateral agreements, carries with it the prospect of significant outsider costs (i.e. losses) both within and outside the region.

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