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Abstract: The formal-informal dichotomy is of great significance in the study of structural transformation and economic development in developing economies. From a dual-sector perspective, the formal and informal sectors are fundamentally different. The informal sector tends to be more traditional, less productive, using little capital, and adding less value to the economies. In contrast, the formal sector, often the modern part of the economy, is the more productive sector with a more educated and more skilled labour force (La Porta and Shleifer 2014). Thus, a large difference in labour productivity between formal and informal parts of the economy is typical in developing societies (McMillan and Rodrik 2011). Employment in ... Read More PubDate: 2022-05-25T00:00:00-05:00
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Abstract: Islamic banking was institutionalized with the establishment of Mit Ghamr in Egypt in 1963. Despite being fairly new, Islamic banking has grown rapidly across the world, with more than 1,500 Islamic financial institutions operating in forty-six countries, including non-Islamic ones (Johnes, Izzeldin and Pappas 2014; Islamic Finance Development Report 2020). It provides an alternative financing option to Muslims who may feel more comfortable dealing with banking transactions that adhere to their religious beliefs. Non-Muslims may also deal with Islamic banking products because of cost or product features considerations. Malaysia is no exception; its Islamic financing as a proportion of total loans and financing has ... Read More PubDate: 2022-05-25T00:00:00-05:00
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Abstract: The phenomenal success of East Asian countries in terms of economic growth in the second half of the twentieth century has brought to the fore an economic development model, which was coined the "East Asian Miracle" by the World Bank (1993).1 While the model has been widely praised by academics and development experts, it does not go without blunt criticism. On the one hand, many studies, including Page (1994) and Stiglitz (2001), offer inspiring lessons from the East Asian Miracle (EAM) model, which range from getting the fundamentals right to fostering capital accumulation and human capital development to promoting exports and structural change. On the other hand, Krugman (1994), with reference to the work by ... Read More PubDate: 2022-05-25T00:00:00-05:00
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Abstract: Being at precisely the centre of Southeast Asia, Thailand enjoys a key strategic location for manufacturing, trading, and logistics (Thailand Board of Investment 2016). The country has continuously improved its economic model, starting from "Thailand 1.0" (which focused on the agricultural sector and light industries) to "Thailand 2.0" (more complex industries) and then to "Thailand 3.0" (emphasis on attracting foreign direct investment to make Thailand a production hub). Currently, the Kingdom is gearing towards "Thailand 4.0", which underscores a value-based, creative, and innovation-driven economy. The Thai government has invested considerably in infrastructure, particularly in the Eastern Economic Corridor ... Read More PubDate: 2022-05-25T00:00:00-05:00
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Abstract: Electricity consumption in Brunei is heavily subsidized. Electricity subsidies amounted to approximately B$300–350 million between 2006 and 2011, equivalent to about 2 per cent of GDP (Koh 2014; Lawrey and Pillarisetti 2011). Subsidy spending has declined following the collapse in international crude oil prices in mid-2014, but the fiscal cost of energy subsidies remains high. Fiscal space has shrunk significantly amid steeply lower oil and gas revenues. In the context of tight fiscal constraints, energy subsidies represent a high opportunity cost as the foregone revenue could be spent on social assistance programmes or other growth-enhancing activities.Electricity subsidies have become firmly entrenched in Brunei ... Read More PubDate: 2022-05-25T00:00:00-05:00
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Abstract: Today, globalization characterizes the salient features of most modern economies. The increasing interdependency among countries is evident from the flow of goods and services, trade liberalization policies, multinational cooperation, investments, outsourcing, and economic sensitivity owing to the volatility in exchange rates and migration. Conventional analyses of the effects of globalization examine the share of imports and exports to GDP, foreign direct investment (FDI) (in/out)flows and exchange rates based on rich data sources (Goldberg and Pavcnik 2007). And it is generally agreed that extending global integration is key to economic development. The miracles of East and Southeast Asia, too, are partly rooted ... Read More PubDate: 2022-05-25T00:00:00-05:00
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Abstract: Thank you to the following people who reviewed articles for JSEAE that were under consideration in 2021:Abdul Hamid BaharomAdiwan AritenangAhmed Masood KhalidAishath MuneezaAndrew Kam Jia YiArchanun KohpaiboonCassey LeeChristian von LuebkeChristopher Choong Weng WaiElsa Lafaye de MicheauxEve WarburtonFirdausi SuffianGuanie LimHwok Aun LeeJayant MenonJohn ThoburnJuthathip JongwanichJuzhong ZhuangKanis SaengchoteLatif AdamLutfey SiddiqiMaria Monica WihardjaMohamad Zawawi BahariRaden Muhamad PurnagunawanRobert SparrowSasiwimon Warunsiri PaweenawatSiwage Dharma NegaraSon Thanh NguyenTham Siew YeanTri MulyaningsihWoocheol ... Read More PubDate: 2022-05-25T00:00:00-05:00
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