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5943 results in Economics: general interest

Page 71 of 298

A Reconsideration of the Theory of Non-Linear Scale Effects

A Reconsideration of the Theory of Non-Linear Scale Effects
  • The Sources of Varying Returns to, and Economies of, Scale
  • Richard G. Lipsey
  • Published online:
    20 March 2018
    Print publication:
    22 March 2018
  • The main thrust of this Element is a critical assessment of the theory and evidence concerning the sources of scale effects. It is argued that the analysis of static scale effects is important because scale effects are embedding in our world, and new technologies associated with an evolving economy often allow their exploitation when they cannot be exploited in less technically advanced and smaller economies. So, although static equilibrium theory is not a good vehicle for studying economic growth, showing how scale effects operate when output varies with given technology helps us to understand the scale effects that occur when output rises as a result of economic growth, even though that is typically driven by technological change.

Tomorrow 3.0
  • Transaction Costs and the Sharing Economy
  • Michael C. Munger
  • Published online:
    07 March 2018
    Print publication:
    22 March 2018
  • With the growing popularity of apps such as Uber and Airbnb, there has been a keen interest in the rise of the sharing economy. Michael C. Munger brings these new trends in the economy down to earth by focusing on their relation to the fundamental economic concept of transaction costs. In doing so Munger brings a fresh perspective on the 'sharing economy' in clear and engaging writing that is accessible to both general and specialist readers. He shows how, for the first time, entrepreneurs can sell reductions in transaction costs, rather than reductions in the costs of the products themselves. He predicts that smartphones will be used to commodify excess capacity, and reaches the controversial conclusion that a basic income will be required as a consequence of this new 'transaction costs revolution'.

Accidental and Intentional Exporters
  • Comparing Indonesian and Malaysian MSMEs
  • Siew Yean Tham, Tulus Tambunan
  • Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    12 February 2019
    Print publication:
    06 March 2018
  • Regardless of the size of the domestic economy, there are ample reasons for firms to extend their markets beyond home shores. These include increasing sales, improving profits, diversifying risks, reaping economies of scale, matching the moves of competitors, enhancing competitiveness or accessing government incentives. Both Indonesia and Malaysia seek to enhance the competitiveness of their micro, small and medium enterprises (MSMEs) by including internationalization goals in their respective national development plans for these enterprises. Findings from fourteen case studies in the two countries indicate that exporting may be a serendipitous discovery, as few of these cases were born global in intent. Shifting to intentional exporting will require entrepreneurs to tap into government and/or private networks and thus connect with international buyers. Indonesian MSMEs are more inclined to depend more on government than private networks as they perceive the former to be more credible. Malaysian cases indicate some firms prefer private to government networks. This is attributed to the differences in the political economy of the two countries. Going forward, both countries need to consolidate their government-run programmes and reduce the fiscal burden. MSMEs should tap more into private networks to bridge the information gap that hinders their access to external markets. ASEAN can facilitate the entry of MSMEs into the ASEAN market by implementing resolutely current plans to reduce technical barriers to trade.

  • Accidental and Intentional Exporters: Comparing Indonesian and Malaysian MSMEs

  • Siew Yean Tham, Tulus Tambunan
  • Book:
    Accidental and Intentional Exporters
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    12 February 2019
    Print publication:
    06 March 2018, pp vii-viii

  • Summary

    EXECUTIVE SUMMARY

  • • Regardless of the size of the domestic economy, there are ample reasons for firms to extend their markets beyond home shores. These include increasing sales, improving profits, diversifying risks, reaping economies of scale, matching the moves of competitors, enhancing competitiveness or accessing government incentives.

  • • Both Indonesia and Malaysia seek to enhance the competitiveness of their micro, small and medium enterprises (MSMEs) by including internationalization goals in their respective national development plans for these enterprises.

  • • Findings from fourteen case studies in the two countries indicate that exporting may be a serendipitous discovery, as few of these cases were born global in intent. Shifting to intentional exporting will require entrepreneurs to tap into government and/or private networks and thus connect with international buyers.

  • • Indonesian MSMEs are more inclined to depend more on government than private networks as they perceive the former to be more credible. Malaysian cases indicate some firms prefer private to government networks. This is attributed to the differences in the political economy of the two countries.

  • • Going forward, both countries need to consolidate their government-run programmes and reduce the fiscal burden. MSMEs should tap more into private networks to bridge the information gap that hinders their access to external markets.

  • • ASEAN can facilitate the entry of MSMEs into the ASEAN market by implementing resolutely current plans to reduce technical barriers to trade.

  • Accidental and Intentional Exporters: Comparing Indonesian and Malaysian MSMEs

  • Siew Yean Tham, Tulus Tambunan
  • Book:
    Accidental and Intentional Exporters
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    12 February 2019
    Print publication:
    06 March 2018, pp 1-34

  • Summary

    INTRODUCTION

    Small and medium enterprises, including micro enterprises (or MSMEs), play an important role in Southeast Asia as they contribute between 88.8 per cent and 99.9 per cent of total establishments in all sectors in the region and between 51.7 per cent and 97.2 per cent of total employment in the region. Approximately 30–53 per cent of the region's Gross Domestic Product (GDP) and 10–30 per cent of its total exports are accounted for by them as well. There are, however, considerable differences in the performance of MSMEs in the region. For example, Thailand's MSMEs contribute about 25.5 per cent of Thailand's total exports, while those in Indonesia and Malaysia contribute about 19 per cent and 15.7 per cent, respectively, to the total exports in these two economies. Likewise the policy environment for nurturing MSMEs in each of these countries differ substantially from each other, as indicated by the SME Policy Index developed by Economic Research for ASEAN and East Asia (ERIA) in 2014. The results reveal that Singapore's score is the highest, followed by Malaysia, with Indonesia and Thailand tying in third position with the same score, and lastly the Philippines for the ASEAN-5. The rest of ASEAN's member countries score at or below the ASEAN average score.

    The ASEAN Economic Community (AEC), established in 2015, aims to create a highly integrated and cohesive economy that provides an expanded market for its ten member countries. In principle, this initiative should create opportunities for MSMEs in the region to grow regionally before entering the global market. However, studies have shown that MSMEs are in general not aware of the AEC and the opportunities accorded by the AEC initiatives. They remain inward-looking, as indicated by their relatively low share of total exports in their respective countries.

    Most research projects focus on the challenges faced by the MSMEs, including the problems encountered in internationalizing their operations, particularly in finance, research and innovation. Thus the questions asked frequently pertain to the factors that determine MSMEs’ exports or the drivers of their internationalization, be it at the firm or country level. The proliferation of Free Trade Agreements (FTAs) has also spurred research interest in another dimension, namely, the participation of MSMEs in regional integration.

  • Reconciling Economic and Imperatives in Batam

  • Poh Onn Lee
  • Book:
    Reconciling Economic and Environmental Imperatives in Batam
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    12 February 2019
    Print publication:
    06 March 2018, pp 1-40

  • Summary

    INTRODUCTION

    Batam's economic growth has been nothing short of spectacular. In the 1990s, it experienced an investment boom fuelled by investments from Singapore. This lasted for two decades and transformed the economy and landscape of what was an outpost into a place with a major industrial city of over 1 million inhabitants.

    This impressive pace of development has often been accompanied by a marked degradation of the natural environment. Mangrove areas have rapidly disappeared, floods have occurred around the city because of erosion caused by land clearing; illegal squatter settlements have intruded into protected forests, and toxic substances from the offshore cleaning of ships have affected the quality of Batam's coastal waters.

    But all is not lost. Economic and environmental imperatives can be reconciled if Batam's development trajectory takes into account the impact of economic growth on the environment. Sustainable development is not impossible.

    Negative environmental impacts have to be controlled by regulations and by proper enforcement. The institutional framework (regulations and property rights) plays a central role to ensure that negative environmental impacts are accounted for and minimized. Problems generally arise from either an absence of regulations or property rights to regulate the environment or from the absence or lack of enforcement by the relevant authorities.

    The Riau Islands Province (PRI) is made up of five rural regencies (kabupaten) and two cities or urban municipalities (kota). Batam and Tanjung Pinang are the two cities within PRI, while Bintan, Karimun, Lingga, Anambas and Natuna form the five regencies. Batam Island's land area totals 415 km2 (41,500 hectares).

    This paper will examine the various manifestations and causes of environmental degradation against the backdrop of economic transformation, population growth and enforcement (or lack thereof). It also provides a comprehensive update where possible of the present state of environmental affairs in the municipality, and the challenges involved in maintaining the carrying capacity of the environment to cope with development.

    Following a discussion of the methodology used in this study, the next section will examine the impact of government policies on economic transformation, and of migration on population growth. Regulations and enforcement measures are then discussed in general, followed by an examination of Batam's environmental management challenges across many fronts.

  • Foreword

  • Siew Yean Tham, Tulus Tambunan
  • Book:
    Accidental and Intentional Exporters
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    12 February 2019
    Print publication:
    06 March 2018, pp v-vi

  • Summary

    The economic, political, strategic and cultural dynamism in Southeast Asia has gained added relevance in recent years with the spectacular rise of giant economies in East and South Asia. This has drawn greater attention to the region and to the enhanced role it now plays in international relations and global economics.

    The sustained effort made by Southeast Asian nations since 1967 towards a peaceful and gradual integration of their economies has had indubitable success, and perhaps as a consequence of this, most of these countries are undergoing deep political and social changes domestically and are constructing innovative solutions to meet new international challenges. Big Power tensions continue to be played out in the neighbourhood despite the tradition of neutrality exercised by the Association of Southeast Asian Nations (ASEAN).

    The Trends in Southeast Asia series acts as a platform for serious analyses by selected authors who are experts in their fields. It is aimed at encouraging policymakers and scholars to contemplate the diversity and dynamism of this exciting region.

  • Foreword

  • Poh Onn Lee
  • Book:
    Reconciling Economic and Environmental Imperatives in Batam
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    12 February 2019
    Print publication:
    06 March 2018, pp v-vi

  • Summary

    The economic, political, strategic and cultural dynamism in Southeast Asia has gained added relevance in recent years with the spectacular rise of giant economies in East and South Asia. This has drawn greater attention to the region and to the enhanced role it now plays in international relations and global economics.

    The sustained effort made by Southeast Asian nations since 1967 towards a peaceful and gradual integration of their economies has had indubitable success, and perhaps as a consequence of this, most of these countries are undergoing deep political and social changes domestically and are constructing innovative solutions to meet new international challenges. Big Power tensions continue to be played out in the neighbourhood despite the tradition of neutrality exercised by the Association of Southeast Asian Nations (ASEAN).

    TheTrends in Southeast Asia series acts as a platform for serious analyses by selected authors who are experts in their fields. It is aimed at encouraging policymakers and scholars to contemplate the diversity and dynamism of this exciting region.

  • Reconciling Economic and Environmental Imperatives in Batam

  • Poh Onn Lee
  • Book:
    Reconciling Economic and Environmental Imperatives in Batam
    Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    12 February 2019
    Print publication:
    06 March 2018, pp vii-viii

  • Summary

    EXECUTIVE SUMMARY

  • • Batam's economic transformation has been accompanied by a marked degradation of its natural environment. Enforcement to protect the environment has often been inadequate on many fronts, exacerbated by population increases.

  • • Though regulations exist for the provision of public amenities like wastewater and sewerage treatment, existing facilities are run-down and ill-equipped to cope with the present demands.

  • • The capacity of reservoirs to meet the present demand for water is also strained because of the large population base, with illegal intrusion and squatters further threatening supplies.

  • • Economic and environmental imperatives can be reconciled if more emphasis and resources are put into enforcing regulations and protecting the environment.

Reconciling Economic and Environmental Imperatives in Batam
  • Poh Onn Lee
  • Published by:
    ISEAS–Yusof Ishak Institute
    Published online:
    12 February 2019
    Print publication:
    06 March 2018
  • Batam's economic transformation has been accompanied by a marked degradation of its natural environment. Enforcement to protect the environment has often been inadequate on many fronts, exacerbated by population increases. Though regulations exist for the provision of public amenities like wastewater and sewerage treatment, existing facilities are run-down and ill-equipped to cope with the present demands. The capacity of reservoirs to meet the present demand for water is also strained because of the large population base, with illegal intrusion and squatters further threatening supplies. Economic and environmental imperatives can be reconciled if more emphasis and resources are put into enforcing regulations and protecting the environment.

Page 71 of 298