scholarly journals IS TAIWAN'S R&D PRODUCTIVITY IN DECLINE? A MICROECONOMETRIC ANALYSIS

2013 ◽  
Vol 14 (1) ◽  
pp. 137-155
Author(s):  
Chih-Hai Yang ◽  
Chia-Hui Huang
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Productivity Growth ◽  
Electronics Industry ◽  
Asian Financial Crisis ◽  
Manufacturing Firms ◽  
Firm Level ◽  
Crisis Period ◽  
Crucial Question ◽  
The Past

Innovation is widely recognized as the main stimulus of economic growth. Considering that Taiwan has devoted increasingly more efforts to R&D since the late 1980s, a crucial question is posed: did the R&D productivity of firms begin to decline in Taiwan during the post-Asian Financial Crisis period when Taiwan's economic growth began to decelerate? This study investigates changes in R&D productivity for Taiwan's manufacturing firms from 1990 to 2003. By employing various approaches to obtain robust results, findings from firm-level microeconometric analysis suggests that overall R&D productivity in Taiwan appears to have been ascendant, particularly during the post-crisis period. This result is also evidenced by segmenting the sample into industry groups, whereby electronics firms have a significantly high R&D productivity growth relative to firms outside the electronics industry. Therefore, the slowdown of Taiwan's economic growth in the past decade is attributed to other influences rather than a slowdown in R&D productivity.

Services Outsourcing and Productivity Growth

2018 ◽  
Vol 19 (2) ◽  
pp. 192-209 ◽  
Author(s):  
Sonia Mukherjee
Keyword(s):  
Productivity Growth ◽  
Manufacturing Sector ◽  
Core Competencies ◽  
Marketing Research ◽  
Manufacturing Firms ◽  
Professional Services ◽  
Business Services ◽  
Positive Role ◽  
Firm Level ◽  
The Impact

The article studies the impact of outsourcing services on the productivity growth of the Indian manufacturing firms. By the term services we mean different expenses on services incurred by the manufacturing firms, such as, advertising, marketing, research and development, consultancy, auditing, business services, knowledge-based services, technical, legal and other professional services (including information communication and technology services). With further expansion in newer services, a higher demand has come from the Indian manufacturing sector. With intensive usage of services in the manufacturing production process, the performance and the manufacturing can focus on the core competencies with outsourced and cheaper services from expert service provider. For this purpose, the firm-level data have been collected from the annual financial statements of the Centre for Monitoring of the Indian Economy’s Prowess database. The econometric results conclude that services have played a positive role in improving the productivity growth of the aggregate Indian manufacturing firms and at the disaggregated level, especially for industrial groups such as food, beverage and tobacco; textiles, gems and jewellery; transport; machinery; metal, rubber and plastic; leather and footwear; and chemicals, services have played a favourable role in boosting the productivity growth. JEL: D24, L80, L60

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 Productivity Growth and Machinery Investment: A Long-Run Look, 1870–1980

1992 ◽  
Vol 52 (2) ◽  
pp. 307-324 ◽  
Author(s):  
J. Bradford De Long
Keyword(s):  
Economic Growth ◽  
Productivity Growth ◽  
Rapid Growth ◽  
History Of Technology ◽  
High Rate ◽  
Past Century ◽  
The Past ◽  
Long Run ◽  
History Of ◽  
Good Proxy

Over the past century in six major economies, economic growth has been strongly associated with machinery investment, as is the case for a larger group of nations since 1950. Both macroeconomic patterns and narratives of the history of technology suggest that this association is causal—that a high rate of machinery investment appears to be a necessary prerequisite for rapid long-run growth—and points away from possibilities that rapid growth is the cause of high machinery investment or that a high rate of machinery investment is a good proxy for other factors that are important causes of growth.

Welfare State

2020 ◽  
pp. 525-541
Author(s):  
Eloísa del Pino
Keyword(s):  
Economic Growth ◽  
Financial Crisis ◽  
Welfare State ◽  
Current Situation ◽  
Comparative Perspective ◽  
Political Factors ◽  
Crisis Period ◽  
The Third ◽  
Structural Problems ◽  
The Welfare State

The first part of this chapter describes the main features of the Spanish Welfare State, trying to place it in a comparative perspective. The second part identifies the socioeconomic and political factors which explain its evolution since the beginning of the new century to the current situation, focusing on the attempts at recalibration of the system since 2000 and the interruption of this process due to the outbreak of the financial crisis in 2008. The third part analyses the main challenges that the Welfare State has to face in the post-crisis period, which include some structural problems such as its inability to address inequality or poverty during the periods of economic growth. Finally, the chapter speculates about the future of the Welfare State in Spain.

Long-term Economic Development and Employment Changes: The Indonesian Experience

Social Change ◽  
2017 ◽  
Vol 47 (4) ◽  
pp. 493-508
Author(s):  
Tulus Tahi Hamonangan Tambunan
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Financial Crisis ◽  
Labour Productivity ◽  
Recovery Period ◽  
Growth Period ◽  
Asian Financial Crisis ◽  
Informal Employment ◽  
Policy Reforms

This article assesses Indonesia’s long experience with economic development from 1990 up to 2014–2015. It examines economic growth and employment changes in three sub-periods: the high economic growth period 1990–1996; the Asian financial crisis and recovery period 1997–2007 and the global economic crisis from 2008 to the present. In this periodisation, the crisis years and their impact on employment experienced by Indonesia from 1990 to 2014–2015 will be visible. Additionally, it also examines changes in employment dualism, that is, formal vs. informal employment as well as changes in labour productivity during this extended time. This article shows that Indonesia’s economy performed exceptionally well after the 1997–1998 Asian financial crisis on the back of a continued prudent macroeconomic framework and solid policy reforms. Employment continued to increase and poverty continued to show a declining trend.

A Decade After the Asian Financial Crisis: Regionalism and International Architecture in a Globalized World

Asian Survey ◽  
2007 ◽  
Vol 47 (6) ◽  
pp. 834-849 ◽  
Author(s):  
Donald C. Hellmann
Keyword(s):  
Political Economy ◽  
Financial Crisis ◽  
Asian Financial Crisis ◽  
Washington Consensus ◽  
Global Political Economy ◽  
The Past ◽  
Asian Regionalism ◽  
Globalized World

The China-driven rise of Asia to the center of the global political economy since the Asian financial crisis under systems of political economy manifestly different from those of the Washington Consensus poses a challenge that has been met by neither helter-skelter Asian regionalism nor by American strategic inattentiveness of the past decade.

scholarly journals MSMEs IN TIMES OF CRISIS. EVIDENCE FROM INDONESIA

2020 ◽  
Vol 5 (2) ◽  
pp. 91
Author(s):  
Tulus Tambunan
Keyword(s):  
Financial Crisis ◽  
Global Financial Crisis ◽  
Raw Materials ◽  
Small And Medium Enterprises ◽  
Asian Financial Crisis ◽  
The Past ◽  
Transmission Channels ◽  
Different Types ◽  
Medium Enterprises ◽  
The Impact

This descriptive study is about micro, small and medium enterprises (MSMEs) in Indonesia. It has two objectives: (i) to estimate the impact of the Covid 19 crisis on MSMEs and compares it with other previous problems. Second, to explore crisis mitigation (CM) measures adopted by affected MSMEs. It shows that different types of crises have different transmission channels through which such situations affected MSMEs. CM measures adopted by affected MSMEs also vary by different types of emergencies and hence various business risks. In the 1997/98 crisis, replacing imported raw materials with local raw materials was widely adopted. The 2008/09 problem was finding new customers or markets in unaffected countries or switching to the domestic market. While in the case of the Covid-19 crisis, switching temporarily to manufacturing medical devices such as masks and changing the marketing system from conventional to e-commerce are the most widely adopted strategies. There is already a lot of literature on economic crises such as the 1997/98 Asian financial crisis and the 2008 global economic crisis. The Covid 19 pandemic's reports and articles impact on the economy have emerged in the past two months. To the best of the author's knowledge, this is the first study on how such crises affected and through what transmission channels, MSMEs. Keywords: MSMEs, 1997/98 Asian Financial Crisis, 2008/09 Global Financial Crisis, COVID-19 Crisis, CM MeasuresJEL Classification: D2, F6, G01, I1

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