Southeast Asia's Misunderstood Miracle

Jomo, K.S.; Chen, Chung; Folk, Brian C.; ul-Haque, Irfan; Phongpaichit, Pasuk; Simatupang, Batara; Tateishi, Mayuri

doi:10.4324/9780429306822

Cited by 19 publications

(5 citation statements)

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“…However, there is also a body of evidence putting in doubt the real potential of technology diffusion from MNCs. Malaysia, for example, successfully attracted FDI in electronics, but after decades of efforts, combining both “carrots and sticks,” the extent of technology diffusion remained limited (Jomo et al, 1997). In contrast, Taiwan did not rely on FDI and leveraged an array of activist instruments to create ex nihilo technology firms in electronics (Wade, 1990).…”

Section: How To Promote Dynamismmentioning

confidence: 99%

Fair and inclusive markets: Why dynamism matters

Cherif,

Hasanov,

Aghion

2023

Global Policy

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We argue that the economies that achieved inclusive growth, or high sustained and broad‐based growth while keeping a lid on the increase in market income inequality, are characterised by dynamism—a drive towards the acquisition of new capabilities in sophisticated products and processes. What a country produces and how much it competes domestically and internationally are important for achieving fair and inclusive markets. We show empirical evidence that dynamism, as measured by export sophistication, reduces market income inequality and poverty while increasing a broad concept of welfare. We explore policy options to steer industrial and market structures towards raising dynamism, thus providing growth opportunities for both workers and firms.

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Section: How To Promote Dynamismmentioning

confidence: 99%

Fair and inclusive markets: Why dynamism matters

Cherif,

Hasanov,

Aghion

2023

Global Policy

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“…According to Dutta (2005), through trade and industrial policy reforms, China was able to diversify its economy from the agricultural to the industrial sector with the share of the two sectors rising above two‐thirds of the total aggregate output in 2000. The ‘growth miracle’ in South Asia is not peculiar to China but applies to other Asian countries like Singapore, Japan, Malaysia, and Indonesia (see Hian & Ngemg, 2014; Jeon, 1995; Jomo et al, 2019; Siddiqui, 2010). It is therefore evident that the growth of the ‘Asian Tigers’ and the improvement in their levels of welfare is not only attributable to comprehensive industrial policies and robust institutions but also through sound macroeconomic frameworks which created the enabling environment for economic growth.…”

Section: Literature Reviewmentioning

confidence: 99%

Foreign direct investment, sectoral output performance and poverty in Africa: Evidence from panel structural vector autoregressive and threshold regression models

Chukwu¹,

Adewuyi

2023

Int. J Fin Econ

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African countries are faced with many challenges, which have hindered growth and development, yet they are unable to implement policies to attract adequate external funding for addressing their growth and development challenges. Using a cross‐sectional panel data of 23 African countries, spanning 1996–2020, this study applied a novel panel structural autoregressive model and a modification of the recently introduced dynamic threshold model to analyse the foreign direct investment (FDI)‐growth‐poverty relationship at sectoral level. The study accounted for heterogeneity, simultaneity bias and cross‐sectional dependence in the modelling exercise. Findings suggest that shocks in FDI produced significant positive impact on manufacturing and services output performances in Africa in the short‐term. However, shocks in FDI did not stimulate appreciable effect on agricultural output performance over time. Moreover, the results show that the effect of FDI shocks on human development index (HDI) was greater in the short‐ to medium‐term than in the long‐term. The threshold regression results suggest that higher levels of FDI inflow and HDI are needed for macroeconomic factors to produce significant positive effects on sectoral output performance. This study therefore provided some valuable recommendations to guide evidence‐based policy making in Africa to improve sectoral output and welfare.

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“…Bu kazanımlar, ana ülkedeki diğer yerli firmaların gelişmesini ve etkinleşmesini sağlamaktadır. Ayrıca bu kazanımlar, ana ülkedeki yerli yatırımları ilgili sektöre çekmektedir (Jomo, 1997).…”

Section: Teorik çErçeveunclassified

The effect of outward foreign direct investment on domestic investments in developing countries

Aydin

2021

Balıkesir Üniversitesi Sosyal Bilimler Enstitüsü Dergisi

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Bu çalışmada gelişmekte olan ülkelerde doğrudan yabancı yatırım çıkışlarının yurt içi yatırımlara etkisi araştırılmıştır. Bu kapsamda çalışma, 1993-2018 dönemi baz alınarak panel veri analiz yöntemleriyle incelenmiştir. Serilerin durağanlığı; CADF (2007) panel birim kök testiyle test edilmiştir. Panel birim kök testi sonucuna göre seriler, birinci dereceden durağandır. Seriler arasındaki eşbütünleşme ilişkisi Durbin-Hausman (2008) eşbütünleşme testiyle sınanmış ve serilerin eşbütünleşik olduğu görülmüştür. Uzun ve kısa dönem eşbütünleşme katsayıları ise Panel AMG (2009) yöntemiyle tahmin edilmiştir. Uzun dönem analiz sonucuna göre gelişmekte olan ülkelerde doğrudan yabancı yatırım çıkışlarındaki %10'luk bir artış ana ülkenin yurt içi yatırımlarını %1.5 oranında arttırmaktadır.

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Southeast Asia's Misunderstood Miracle

Cited by 19 publications

References 0 publications

Fair and inclusive markets: Why dynamism matters

Fair and inclusive markets: Why dynamism matters

Foreign direct investment, sectoral output performance and poverty in Africa: Evidence from panel structural vector autoregressive and threshold regression models

The effect of outward foreign direct investment on domestic investments in developing countries

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