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Economies
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The Asian Economy: Constraints and Opportunities
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The Asian Economy: Constraints and Opportunities

A special issue of Economies (ISSN 2227-7099). This special issue belongs to the section "Economic Development".

Deadline for manuscript submissions: 31 March 2025 | Viewed by 5964

Special Issue Editor

Prof. Dr. Hiroyuki Taguchi

E-Mail Website
Guest Editor
Graduate School of Humanities and Social Sciences, Saitama University, Saitama, Japan
Interests: economic policy; Asian economy

Special Issue Information

Dear Colleagues,

Asian economies have been considered to be a center of growth in the world. Asian economic growth has been typically driven by rapid industrialization and active global value chains. In the recent decades, however, some structural changes have occurred in Asian economies, partly due to external shocks (such as the global financial crisis in 2008–2009, US–China trade conflicts, COVID-19, and current energy price-hike). Such changes include slowbalization instead of globalization, as well as premature deindustrialization or servicification instead of traditional industrialization.

This Special Issue, entitled “The Asian Economy: Constraints and Opportunities”, aims to investigate the recent challenges and opportunities caused by structural changes in Asian economies and invite researchers and academicians to submit their theoretical and empirical works in line with this purpose. Submissions can take the form of original research studies and review articles on the appropriate theme.

Prof. Dr. Hiroyuki Taguchi
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Economies is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1800 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • Asian economy
  • globalization
  • industrialization
  • global value chains
  • global financial crisis
  • trade conflicts
  • COVID-19
  • structural changes

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Published Papers (4 papers)

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Research

26 pages, 1750 KiB  
Article
Understanding Imbalanced Transmission from R&D Inputs into Innovation Outputs and Impacts: Evidence from Kazakhstan
by Stefka Slavova, Luis Rubalcaba and José Nicanor Franco-Riquelme
Economies 2025, 13(2), 25; https://doi.org/10.3390/economies13020025 - 22 Jan 2025
Viewed by 536
Abstract
Innovation ecosystems use R&D inputs to generate innovation outputs first and innovation impacts later. But some countries show a relatively low transmission, such as in the case of Kazakhstan, the largest economy in Central Asia. This article analyzes the transmission from R&D into [...] Read more.
Innovation ecosystems use R&D inputs to generate innovation outputs first and innovation impacts later. But some countries show a relatively low transmission, such as in the case of Kazakhstan, the largest economy in Central Asia. This article analyzes the transmission from R&D into innovation outputs and impacts through a framework for which different factors matter, such as the company size, education and skills, competition, exports, and foreign ownership. Transmission is conceptually understood in two steps: from R&D into innovation outputs, and from innovation output into innovation impacts. The main hypothesis is that the high endowments of these company factors should lead to the better transmission of results and improved performance in terms of outputs and impacts. We test this using new evidence from Kazakhstan and the ECA region (Europe and Central as defined by the World Bank) as benchmarking, and data are from the Global Innovation Index (descriptive section) and the World Bank Enterprise Surveys (analytical section). The econometrics are a Crépon–Duguet–Mairesse (CDM) model in three steps: factors for propensity to invest in R&D, then to innovate, and, finally, innovation impacts on productivity. Results confirm the positive roles of factors, such as exports and education, in positive transmissions and uneven or insignificant results on productivity impacts from characteristics, such as age, size, and foreign ownership. The specifics for Kazakhstan suggest a potential for business innovation growth in the country. The paper concludes by suggesting key policy measures to unlock the potential for business innovation at a country level. Full article
(This article belongs to the Special Issue The Asian Economy: Constraints and Opportunities)
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19 pages, 307 KiB  
Article
Determinants of the Blue Economy Growth in the Era of Sustainability: A Case Study of Indonesia
by Taufiq Marwa, Muizzuddin, Abdul Bashir, Sri Andaiyani and Afriyadi Cahyadi
Economies 2024, 12(11), 299; https://doi.org/10.3390/economies12110299 - 2 Nov 2024
Viewed by 1639
Abstract
The Sustainable Development Goals (SDGs) represent a fundamental global commitment to addressing a wide range of socio-economic and environmental challenges. A key component of these goals is the commitment to ocean sustainability, encapsulated in the concept of the blue economy. The blue economy, [...] Read more.
The Sustainable Development Goals (SDGs) represent a fundamental global commitment to addressing a wide range of socio-economic and environmental challenges. A key component of these goals is the commitment to ocean sustainability, encapsulated in the concept of the blue economy. The blue economy, emerging in an era characterized by intricate dynamics and openness to transformation, is influenced by various determinants. This study utilizes panel data analysis and the pooled least squares method to investigate the factors influencing the share of the blue economy in the archipelagic provinces of Indonesia from 2012 to 2021. With its vast maritime territory and numerous islands, Indonesia provides a highly relevant context for examining these dynamics. The empirical results indicate that information and communication technology (ICT), fisheries capture, and aquaculture production positively impact the blue economy’s share. Conversely, trade openness and electricity consumption exhibit a negative relationship with the blue economy’s share. Moreover, the analysis reveals that investment does not have a significant effect on the blue economy’s share. These findings underscore the critical importance of developing robust infrastructure and implementing stringent regulatory oversight on fishery product trade to enhance sustainable growth within the blue economy framework. Full article
(This article belongs to the Special Issue The Asian Economy: Constraints and Opportunities)
15 pages, 603 KiB  
Article
Servicification in Global Value Chains in Emerging and Developing Asian Economies
by Hiroyuki Taguchi and Ni Lar
Economies 2024, 12(6), 125; https://doi.org/10.3390/economies12060125 - 21 May 2024
Viewed by 1483
Abstract
Servicification in global value chains (GVCs) in emerging and developing Asian economies has become a trend recently. However, there have been no scientific studies to elucidate the mechanism of servicification in GVCs. To fill this gap, this study aims to investigate the involvement [...] Read more.
Servicification in global value chains (GVCs) in emerging and developing Asian economies has become a trend recently. However, there have been no scientific studies to elucidate the mechanism of servicification in GVCs. To fill this gap, this study aims to investigate the involvement of service sectors in GVCs in Asian economies in terms of the quantitative interactions between service inputs and manufacturing exports and inputs and between service inputs and service exports. For this purpose, a panel vector-autoregressive model and the Trade in Value Added database of the Organization for Economic Cooperation and Development (OECD) were used for the empirical analysis during 1995–2018. The estimation results find that, first, there exist reciprocal interactions between the business services and manufacturing sectors; foreign business service inputs are induced by manufacturing exports, whereas manufacturing inputs are induced by business service exports. Second, foreign manufacturing inputs facilitate foreign business service inputs. Third, business service inputs are promoted by business service exports. These trends in the involvement of business services’ involvement in GVCs have accelerated since the mid-2000s. To enhance the role of services in GVCs, Asian economies should facilitate the removal of explicit restrictions in service trade and address regulatory divergence across countries. Full article
(This article belongs to the Special Issue The Asian Economy: Constraints and Opportunities)
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12 pages, 2455 KiB  
Article
Is Thailand Attractive to Japanese Companies?
by Hiroaki Sakurai
Economies 2024, 12(5), 122; https://doi.org/10.3390/economies12050122 - 17 May 2024
Viewed by 1636
Abstract
This study examines the relationship between the business sentiment of Japanese companies regarding promising or potential countries for investment and macroeconomic statistics, such as economic or population growth in Thailand, using data from the Survey Report on Overseas Business Operations by Japanese Manufacturing [...] Read more.
This study examines the relationship between the business sentiment of Japanese companies regarding promising or potential countries for investment and macroeconomic statistics, such as economic or population growth in Thailand, using data from the Survey Report on Overseas Business Operations by Japanese Manufacturing Companies from 1992 to 2022. Although investing in Thailand has been popular among Japanese companies since the late 1980s, it has seemingly become relatively inactive in recent years. The present study’s results are summarized as follows: First, the business sentiment of Japanese companies has some relationships with relatively short-term economic growth and the business cycle in the short run. Second, business sentiment depends on long-term trends, and this stance may have changed after 2020. Third, other elements, such as minimum wage or fewer young people, do not necessarily have a relationship with business sentiment. Although more studies including capital accumulation or the global value chain should be conducted, improving the sentiments of Japanese businesspersons is desirable. Full article
(This article belongs to the Special Issue The Asian Economy: Constraints and Opportunities)
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