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5943 results in Economics: general interest

Page 43 of 298

  • 9 - The Ecological Future of Cities: Evaluating the Role of Green Infrastructure in Promoting Sustainability/Resilience in India

  • Edited by Bing Zhang, Neha Sami, R. Parthasarathy, Paul Rabé, Gregory Bracken
  • Book:
    Future Challenges of Cities in Asia
    Published by:
    Amsterdam University Press
    Published online:
    21 November 2020
    Print publication:
    26 November 2019, pp 209-242

  • Summary

    Abstract

    Development in India is placing excessive stresses on the ability of urban landscapes to provide sociocultural and ecological benefits. The rate of development can be seen to support economic prosperity as its primary goal, which has limited the ability of government, and the environment sector, to invest time and/or funding in green infrastructure (GI). To evaluate whether this process can be mitigated, Ahmedabad and the New Delhi National Capital Region (NCR) are discussed to establish whether an ecological networks perspective to development offers valid solutions. It proposes that an ecological networks perspective, grounded in GI theory and practice, can provide alternative investment/management mechanisms to invest in more sustainable forms of urban development.

    Keywords: green infrastructure, landscape planning, urban development, city management

    Introduction

    The current rate of urban growth witnessed in India, approximately an 18% increase between 2001 and 2011, suggests that expansion will continue year on year (Ministry of Home Affairs 2011). As a result, each of the major urban centers of India (including the “big four” of Mumbai, New Delhi, Kolkata, and Chennai) have seen a dramatic increase in their urban composition (McKinsey Global Institute 2010). The outcome of which has been an increasing reliance on changing land use, i.e., from agricultural or open space to housing, which has, in many cases, seen the conversion of environmental resources into built infrastructure to meet transportation, commercial, and industrial land use needs.

    One consequence of this process has been the downplaying of concepts such as landscape ecology, and includes a lack of reflection on the capacity of environmental resources to mitigate the fluctuating functionality of the landscape (Williams 2010). Closely tied to this process is a partial acknowledgment of how redevelopment of ecological resources into urban/ built infrastructure places additional stresses on the remaining land which may limit its ability to cope with growth (Williams 2010; Middleton and O’Keefe 2001). The efficiency of urban environments is therefore being compromised as ecological networks continue to be converted to other uses.

    To address the potential impacts of a continual “graying” of the environment, Green Infrastructure (GI) planning has been proposed as offering a range of adaptive investment solutions to establish more resilient cities (Hellmund and Smith 2006).

  • 9 - Competition and E-commerce in the Philippines

  • from PART IV
  • Edited by Cassey Lee, Eileen Lee
  • Book:
    E-Commerce, Competition and ASEAN Economic Integration
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    31 January 2020
    Print publication:
    10 October 2019, pp 232-270

  • Summary

    Introduction

    While the Philippines is home to a large and growing number of internet and mobile phone users, e-commerce in the country is still at a nascent stage. Data from the Better Than Cash Alliance (BTCA) showed that e-commerce makes up less than 1 per cent of total commerce in the Philippines in 2015, compared to 4–5 per cent in other neighbouring countries in Southeast Asia. In terms of the necessary infrastructure to facilitate online transactions, the country ranked 89th out of 137 countries, according to a report by the United Nations Conference on Trade and Development (UNCTAD).

    Meanwhile, e-commerce continues to affect an increasing number of traditional businesses and industries. In addition, the last few years saw the emergence of new businesses models such as online platforms like Lazada, Zalora and Shopee, and commercial sharing economy services like GrabTaxi and AirBnB. Considering the increasing role that e-commerce will play in firms, this chapter focuses on how e-commerce affects firm productivity. Further, it seeks to contribute to the debate about e-commerce and its effects on competition. Put together, this poses an interesting question from the competition perspective: how does the interplay of e-commerce use and competition shape firm productivity?

    E-commerce directly affects firms’ performance by cutting time and costs of production. The resulting savings, in turn, could then be re-allocated to more productive activities. Several studies have shown that selling online results in low distribution costs (Lal and Sarvary 1999; Van Cayseele and Degryse 2000; Wadhwani 2000; DePrince and Ford 1999), as the internet has made it possible for goods and services to move from producers to end-consumers without going through the entire traditional supply chain. Cost efficiency may also be achieved through e-commerce by rationalizing firms’ processes in purchasing inputs (Degraeve and Roodhooft 2001; Konings and Roodhoft 2002; Sinha 2000). Purchasing online also lowers administrative and inventory holding costs, reduces maverick buying and saves time (Benjamin and Wigand 1995; Whyte 2000; Aberdeen Group 2001). Examining the impact of the internet on transaction cost, Garicano and Kaplan (2001) find that the internet has resulted in a large drop in coordination costs due to process improvements and marketplace benefits that make it easier and less costly to search for products, compare prices or find buyers.

  • 4 - E-commerce and Trade Policy

  • from PART III
    • By Cassey Lee, Senior Fellow, ISEAS – Yusof Ishak Institute, Singapore
  • Edited by Cassey Lee, Eileen Lee
  • Book:
    E-Commerce, Competition and ASEAN Economic Integration
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    31 January 2020
    Print publication:
    10 October 2019, pp 53-60

  • Summary

    Introduction

    Electronic commerce, or e-commerce, has become increasingly important globally. Based on UNCTAD's (2017) estimates, the value of global e-commerce was estimated to have reached US$25 trillion in 2015. Of this, US$7 billion are cross-border Business to Consumer (B2C) e-commerce. Using trade data from the World Bank, cross-border B2C accounts for only 0.04 per cent of total global exports. If we assume that the volume of Business to Business (B2B) e-commerce is nine times larger than that of B2C, e-commerce's share of global trade was 0.4 per cent in 2015. Though cross-border e-commerce is still a small portion of global trade, its share is likely to increase significantly in the future. Aliresearch (2016) estimates that global cross-border e-commerce will increase at an annual rate of 27.3 per cent during 2014–20.

    The rising importance of e-commerce in global trade is also reflected not only in the inclusion of e-commerce related provisions in trade agreements but the increasingly more detailed coverage of such provisions. Of the 275 regional trade agreements (RTAs) in force and notified to the World Trade Organization (WTO) as of May 2017, 75 RTAs (27.3 per cent) explicitly addressed e-commerce (Monteiro and Teh 2017). More than 60 per cent of the RTAs that have entered into force between 2014 and 2016 contained e-commerce provisions (ibid.). The evolution of e-commerce provisions is also related to the evolution in e-commerce itself. Technological changes have been major drivers of this. Finally, e-commerce provisions in trade agreements also have important implications for domestic policies such as competition policy.

    This chapter aims to examine the nature and evolution of e-commerce related provisions in trade agreements. The outline of the chapter is as follows. Section 2 discusses how e-commerce is contextualized within trade policy. Section 3 examines how e-commerce chapters in trade agreement have evolved and the factors driving these changes. Section 4 discusses some of the implications of these provisions for competition. Finally, Section 5 concludes.

    Contextualizing E-commerce in Trade Policy

    The starting point for placing e-commerce within the context of trade policy is the definition of e-commerce. What is e-commerce and how is it related to cross-border trade in goods and services?

  • 8 - E-commerce in Singapore: Current State, Policies and Regulations

  • from PART IV
    • By Kala Anandarajah, Head, Competition & Antitrust and Trade Lead Partner, Corporate Governance, Tanya Tang, Partner (Chief Economic and Policy Advisor), Rajah & Tann Singapore LLP, Zheng Xi, Associate, Rajah & Tann Asia Singapore LLP
  • Edited by Cassey Lee, Eileen Lee
  • Book:
    E-Commerce, Competition and ASEAN Economic Integration
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    31 January 2020
    Print publication:
    10 October 2019, pp 193-231

  • Summary

    Introduction

    Singapore has a highly developed and open economy. The country, which has the highest gross domestic product (GDP) per capita in Southeast Asia, is also well-known for its corruption-free environment. The main drivers of the growth of the Singaporean economy include the manufacturing, finance and insurance sectors (Ministry of Trade and Industry 2017). The Singapore population is highly educated and tech-savvy, with a literacy rate of 97.0 per cent amongst residents aged 15 years and above (Department of Statistics Singapore n.d.), and 84 per cent of the population are internet users in 2016 (IMDA 2018). The Singapore government has encouraged Singaporean businesses to venture into overseas markets by taking advantage of new opportunities in the digital economy and build strong capabilities in innovation and enterprise (Budget 2017). These conditions make Singapore a conducive environment for the growth and development of e-commerce.

    This chapter provides an analysis of the current state of e-commerce in Singapore from a number of perspectives. The outline of this chapter is as follows. After defining e-commerce in Section 2, the state of e-commerce infrastructure is discussed in Section 3. The size of Singapore's e-commerce is examined in Section 4. The evolution of e-commerce in terms of the major players in the industry is discussed in Section 5. Government policies, as well as the laws and regulations governing e-commerce in the country, are covered in Sections 6 and 7, respectively. Competition law and policy-related issues are discussed in Section 8. Factors that can impede and restrict the opportunities for e-commerce growth in Singapore are discussed in Section 9. Finally, Section 10 concludes by presenting policy recommendations for the further development of e-commerce in Singapore.

    Defining E-commerce

    E-commerce refers to the sale and purchase of goods and services over the internet and includes ancillary activities which support such transactions. E-commerce transactions can take place between businesses and consumers (B2C), between businesses (B2B) or between the government and businesses (G2B); between consumers (C2C) whereby consumers buy and sell directly to each other through platforms such as eBay; as well as between the government and citizens via the offering of e-Government services.

  • 6 - E-commerce Development in Indonesia: Challenges and Prospects

  • from PART IV
  • Edited by Cassey Lee, Eileen Lee
  • Book:
    E-Commerce, Competition and ASEAN Economic Integration
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    31 January 2020
    Print publication:
    10 October 2019, pp 119-168

  • Summary

    Introduction

    In recent years, there have been both high expectations and stimulating development in e-commerce sector in Southeast Asia in general and in Indonesia in particular. High expectations come from both private and public sectors. For instance, Google-Temasek (2016) predicted that Southeast Asia will be the fastest growing internet market in the world (reaching around 480 million internet users by 2020). Moreover, they projected that Indonesia will become the fastest growing internet market in the world, with 19 per cent compound annual growth rate (CAGR) for the period of 2015–20. By 2025, Indonesia is expected to account for 52 per cent of e-commerce market in the Southeast Asian region. In addition to Google-Temasek's upbeat projection, McKinsey (2016) estimated that the value of the Indonesian e-commerce market will reach US$150 billion by 2025.

    In November 2016, the Indonesian government released the 14th economic policy package, which aims to promote the country's e-commerce business environment. In this economic policy package, the government sets an ambitious target to create “1,000 technology entrepreneurs” with business valuation up to US$10 billion by 2020. Almost a year later, in August 2017, President Joko “Jokowi” Widodo signed a Presidential Regulation No. 74/2017 on the Roadmap for the National Electronic Commerce System 2017–2019 (Sekretariat Kabinet Republik Indonesia 2017). This regulation provides the required legal framework for e-commerce business operation in Indonesia.

    Despite various upbeat projections on e-commerce prospect in Indonesia, there are many challenges facing the sector development in the country. Firstly, there is a limited pool of skilled workers trained in information and communication technologies (ICT) and in related fields, such as software engineers, coders, platform developers, and so on. Secondly, the internet penetration rate in the country is still low (at around 34 per cent), with internet speed still on the lowest end in the region (average 6.7 Mbps in 2016). Thirdly, the payment mechanism is still limited, also with more than 60 per cent of the population having no access to banking institutions. Fourthly, Indonesia's archipelagic-topographical structure creates additional challenge in terms of high logistical cost. This challenge is worsened by poor infrastructure and limited delivery options.

E-Commerce, Competition and ASEAN Economic Integration
  • Edited by Cassey Lee, Eileen Lee
  • Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    31 January 2020
    Print publication:
    10 October 2019
  • The e-commerce market has grown rapidly within the ASEAN region in recent years. This trend is expected to continue in the future given the region's large population base, rising middle-class and improvements in connectivity. This edited volume examines the current state of e-commerce in ASEAN countries. It highlights some of the key domestic and cross-border challenges faced by ASEAN member states in developing e-commerce. These challenges include the regulatory and legal environment in which e-commerce firms operate across ASEAN, and the supporting infrastructure in ASEAN member states. "A comprehensive snapshot of the latest emerging regulatory, policy and consumer issues. It's essential reading for anyone working in this field. E-commerce is fundamentally altering the way in which businesses are being conducted, both within and between ASEAN countries. More than just an alternate distribution channel, online trading offers new opportunities and challenges for consumers, businesses, regulators and policymakers. How do markets operate in the new paradigm? How should regulators and governments ensure that dynamic competitive economies evolve, instead of descending into anti-competitive structures? And how are markets evolving in different parts of Southeast Asia? All of these issues — and much more — are discussed in here. The editors are to be congratulated for assembling a range of insightful perspectives from across ASEAN. These are issues that will affect the region for many years to come. The lessons here are timely and timeless." —Michael Schaper Ph.D., Deputy Chairman, Australian Competition and Consumer Commission, 2008—18

  • 7 - Development of E-commerce in Malaysia

  • from PART IV
    • By Tham Siew Yean, Senior Fellow, ISEAS – Yusof Ishak Institute, Singapore
  • Edited by Cassey Lee, Eileen Lee
  • Book:
    E-Commerce, Competition and ASEAN Economic Integration
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    31 January 2020
    Print publication:
    10 October 2019, pp 169-192

  • Summary

    Introduction

    According to OECD (undated), an e-commerce transaction is the sale or purchase of goods or services, conducted over computer networks by methods specifically designed for the purpose of receiving or placing of orders. The goods or services are ordered by those methods, but the payment and the ultimate delivery of the goods or services do not have to be conducted online. An e-commerce transaction can be between enterprises, households, individuals, governments, and other public or private organizations. This encompasses a broad range of commercial activities, including among others, business to business (B2B or e-commerce between companies), business to consumer (B2C, or between companies and consumers), consumer to consumer (C2C), or e-commerce between consumers. Transactions to be included are orders made over the web, extranet or electronic data interchange. The type of transaction is defined by the method of placing the order. Transactions to be excluded are orders made by telephone calls, facsimile or manually typed email.

    The development of e-commerce has attracted the attention of developing countries due to its potential to contribute towards sustainable development. Transaction costs can be reduced with e-commerce as it can be used to lower barriers to entry by eliminating certain costs related to having a physical storefront (WTO/OECD 2017). This provides more opportunities especially for small and medium enterprises (SMEs) to enhance their market access in domestic and foreign markets, thereby increasing the scalability prospects of these enterprises. When more inputs can be delivered digitally, it will also facilitate the management of fragmented production networks and the operation of global value chains (GVCs). Since it enhances productivity, more firms can also shift to exports. It also provides enhanced opportunities for women entrepreneurs and rural traders thereby empowering the disadvantaged. Consumers can also benefit through lower prices, greater convenience, and more varieties to choose from.

    Rillo and dela Cruz (2016) reported the findings from Qiang, Rossotto, and Kimura (2009), which showed that increased broadband access has accelerated economic growth due to the close link between information and communications technology (ICT) diffusion and firm level productivity. They further cited a McKinsey Global Institute study (2011) that found internet access has helped SMEs in eight developing countries to create 3.2 jobs for every job lost.

  • 3 - E-commerce and Competition Law: How Does Competition Assessment Change with E-commerce?

  • from PART II
    • By Eileen Lee, Competition and Consumer Commission of Singapore (CCCS), 2016–18, Lip Hang Poh, Competition and Consumer Commission of Singapore (CCCS), 2016–17
  • Edited by Cassey Lee, Eileen Lee
  • Book:
    E-Commerce, Competition and ASEAN Economic Integration
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    31 January 2020
    Print publication:
    10 October 2019, pp 33-50

  • Summary

    Introduction

    E-commerce has garnered considerable attention from competition authorities, given that there are a growing number of competition cases related to digital commerce in recent years. For instance, the US Department of Justice prosecuted David Topkins, an art seller on Amazon Marketplace, for price fixing. Topkins conspired with other sellers to fix the prices of posters using customized algorithms between September 2013 and January 2014 (United States Department of Justice 2015). Most Favoured Nation (MFN) clauses have also been the subject of investigations by the European Union DG Competition (EU DG COMP) and national competition authorities in EU member states.

    Given that competition authorities are in the business of regulating business behaviour, how does e-commerce activities impact competition assessment? In this chapter, we consider the impact of e-commerce on two fundamental steps of competition assessment:

  • a. Market definition; and

  • b. Market power.

    • Market definition is typically the first step of competition assessment as it provides a framework for analysis through identifying the competitive constraints acting on a seller of a product or service. It can be thought of as a “quick and dirty” tool to determine if a seller is likely to have market power.

    Competition law essentially “regulate” business behaviour that hampers market competition. It is primarily concerned about whether the exercise of market power by business entities leads to any adverse impact on competition. In an abuse of dominance case, it is clear that the abuse of market power by a dominant undertaking perpetuates its market position in ways unrelated to competitive merits. Competitors acting in concert e.g. in price-fixing or production control cartels create and abuse market power. Merger control, on the other hand, is concerned from the ex-ante perspective, i.e., whether the merged entity has the market power to increase prices unilaterally, leading to non-coordinated effects in a horizontal merger situation, or foreclosure of competitors in the supply chain in a vertical merger situation.

    Drawing from the findings on consumer and business behaviour from the EU DG COMP's preliminary e-commerce sector study report and the Competition Commission of Singapore's (CCS) commissioned report on E-commerce and its Impact on Competition Policy and Law in Singapore, we study how these findings impact these two fundamental steps of competition assessment.

  • 1 - Introduction

    • By Cassey Lee, Senior Fellow, ISEAS – Yusof Ishak Institute, Singapore, Eileen Lee, Competition and Consumer Commission of Singapore (CCCS), 2016–18
  • Edited by Cassey Lee, Eileen Lee
  • Book:
    E-Commerce, Competition and ASEAN Economic Integration
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    31 January 2020
    Print publication:
    10 October 2019, pp 1-4

  • Summary

    E-commerce markets have grown significantly within ASEAN in recent years. According to a report by AT Kearney in 2015, retail e-commerce has a total market size of US$7 billion in the six largest economies within ASEAN (AT Kearney and CIMB ASEAN Research Institute 2015). Currently, Singapore, Malaysia, Thailand, Indonesia, Vietnam and the Philippines all generate less than 4 per cent of their retail sales online (UNCTAD 2015). This is low in comparison with other e-commerce markets such as the Republic of Korea (16 per cent) and China (7 per cent), which suggests that there is room for further growth in e-commerce (CCCS 2017). In a more recent report, Google and Temasek (2018) estimated that the Southeast Asian internet economy reached $72 billion in gross merchandise value in 2018. Growth potential in e-commerce and internet-based operations in ASEAN is tremendous, given that the number of internet users in the six largest economies in ASEAN has risen from 244 million in 2015 to 283 million in 2017. The number of internet users in the region is projected to continue to grow at an annual rate of 17.7 per cent until 2020 (CCCS 2017).

    The rapid growth of e-commerce markets in the region has brought about significant benefits to both consumers and businesses. From the perspective of consumers, they benefit from an increased access to a greater variety of goods and services via e-commerce platforms. From the perspective of businesses, they benefit from access to new markets, reduced barriers to entry, and operational cost savings (CCCS 2017).

    Despite the growth and benefits of e-commerce, there are challenges that could hinder the growth of e-commerce in ASEAN. In order to realize the full potential of the e-commerce market in ASEAN, improvements are required in terms of technological infrastructure, and in the regulatory and legal environment in which e-commerce firms operate across ASEAN.

    In terms of the technological infrastructure development in ASEAN, many ASEAN member states still lag behind in global rankings in terms of the speed, efficiency and reliability of their internet services despite significant investment in their technology infrastructure (International Telecommunication Union 2016).

  • 5 - E-commerce and its Development in Thailand

  • from PART IV
    • By Yot Amornkitvikai, Lecturer, College of Population Studies, Chulalongkorn University, Jiraporn Tangpoolcharoen, Specialist, Office of Strategy, Electronic Transactions Development Agency (Public Organization) (ETDA)
  • Edited by Cassey Lee, Eileen Lee
  • Book:
    E-Commerce, Competition and ASEAN Economic Integration
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    31 January 2020
    Print publication:
    10 October 2019, pp 63-118

  • Summary

    Introduction

    Information and communication technology (ICT) development since the late 1990s has enhanced the activities of entrepreneurs and enterprises by improving their access to digital networks. In addition, electronic commerce (e-commerce) has been a major engine in the development of global trade. This has been achieved by enhancing international value chains, market access, internal and market efficiency, and reducing transaction costs (UNCTAD 2015).

    However, the use of e-commerce has been mainly restricted to large enterprises in developed countries (UNCTAD 2010). This implies that there might be barriers to e-commerce existing in developing countries, especially for small and medium sized enterprises. According to Kshetri (2007), barriers to e-commerce can be classified into the following: (i) economic barriers which refer to unreliable and costly power supply, inadequate ICT infrastructure and use, limited use of credit cards, lack of purchasing power, and weak financial systems, (ii) sociopolitical barriers which refer to weak legal and regulatory frameworks, cultural preferences for face-to-face interaction and reliance on cash in society, and (iii) cognitive barriers which may involve poor ICT literacy, awareness and knowledge related to e-commerce among both consumers and enterprises.

    The objectives of this study are as follows: (1) to provide an overview of Thailand's e-commerce; (2) to discuss factors influencing the scope of e-commerce as suggested by the UNCTAD, such as internet access, payment systems for online purchases, and delivery systems; (3) to provide empirically based policy implications and recommendations in order to enhance the e-commerce performance of Thai entrepreneurs.

    In this study, the survey of Thailand's e-commerce conducted by the Electronic Transactions Development Agency (Public Organization) (ETDA) in 2015 is used to investigate the factors influencing the performance of e-commerce enterprises as well as their e-commerce engagement (B2C, B2B, and B2G). This is the first study to examine Thailand's e-commerce using firm-level data from the survey.

    An Overview of Thailand's E-commerce

    The OECD (2011, p. 72) has defined e-commerce as follows:

    The sale or purchase of goods or services, conducted over computer networks by methods specially designed for the purpose of receiving or placing of orders.

Page 43 of 298