Was the economic crisis 1997-1998 responsible for rising suicide rates in East/Southeast Asia? A time-trend analysis for Japan, Hong Kong, South Korea, Taiwan, Singapore and Thailand.

FDI, exports, and GDP in East and Southeast Asia—Panel data versus time-series causality analyses

Beneath the Miracle: Labor Subordination in the New Asian Industrialism

Purpose – The purpose of this paper is to investigate the best determinants of foreign direct investment (FDI) in developing countries.Design/methodology/approach – This paper investigates whether FDI determinants affect FDI based on both a panel of data (FMOLS‐fully modified OLS) and cross‐section SUR (seemingly unrelated regression) for 24 developing countries, over the period 1983‐2005 for FMOLS and 1976‐2005 for cross‐section SUR.Findings – The interaction of FDI with some FDI determinants have a strong positive effect on economic progress in developing countries, while the interaction of FDI with the total debt service/GDP and inflation have a negative impact. The most important determinant of FDI is the communication variable.Research limitations/implications – The limitations of the study are based on the development of data set which could be found uninterrupted for 30 years in 24 developing countries.Originality/value – The main objective of this study is to define the main FDI determinants that ...

Analyses of FDI determinants in developing countries

Why do growth rates differ? This paper surveys the recent empirical literature on economic growth, starting with a discussion of stylized facts, data problems, and statistical methods. Six research questions are emphasized, drawing on growth and convergence research. In answering these questions, the paper argues that efficiency has grown at different rates across countries, casting doubt on neoclassical models in which technology is a public good. The latter half of the paper rounds up a variety of findings before providing answers to all six questions, including a short summary of how differences in growth rates arise.

The New Growth Evidence

The impact of the US economy on the Asia-Pacific region: does it matter?

The chaotic attractor of foreign direct investment—Why China?: A panel data analysis

Using time-series and panel data from 1986 to 2004, this paper examines the Granger causality relations between GDP, exports, and FDI among China, Korea, Taiwan, Hong Kong, Singapore, Malaysia, Philippines, and Thailand, the eight rapidly developing East and Southeast Asian economies. After reviewing the current literature and testing the properties of individual time-series data, we estimate the VAR of the three variables to find various Granger causal relations for each of the eight economies. We found each country has different causality relations and does not yield general rules. We then construct the panel data of the three variables for the eight economies as a group and then use the fixed effects and random effects approaches to estimate the panel data VAR equations for Granger causality tests. The panel data causality results reveal that FDI has unidirectional effects on GDP directly and also indirectly through exports, and there also exists bidirectional causality between exports and GDP for the group. Our results indicate that the panel data causality analysis has superior results over the time-series causality analysis.Economic and policy implications of our analyses are then explored in the conclusions.

Mei-Chu W. Hsiao

Papers

FDI, exports, and GDP in East and Southeast Asia—Panel data versus time-series causality analyses

The impact of the US economy on the Asia-Pacific region: does it matter?

The chaotic attractor of foreign direct investment—Why China?: A panel data analysis

FDI, Exports, and GDP in East and Southeast Asia - Panel Data versus Time-Series Causality Analyses

Capital flows and exchange rates: recent Korean and Taiwanese experience and challenges