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Just as a reminder, you should note the Volume and Issue Number of the articles you are interested in before entering the database, as there is no search facility for the Journals of the Week - only browse facilities issue by issue are provided for the free download. Banking instability in South East Asia: causes and cures Charles R. Hickson , John D. Turner European Business Review; 99: 3 1999; pp. 145-153 This article suggests that the currency crisis in South East Asia triggered off the present banking crisis. However, the banking crisis would not have happened if it had not been preceded by a deregulatory banking industry trend in the region during the previous decade. This trend allowed banks to invest in risky illiquid assets. Moreover, such investments were subsidised by deposit insurance funds. The IMF and BIS proposals to cure the banking instability in South East Asia are shown to be inadequate because they rely too much upon depositor and government monitoring rather than the need to constrain bank risk-taking behaviour ex ante. This paper proposes a return to comprehensive banking regulation to prevent a reoccurrence of similar crises in the future.
Keywords: Banking, Deregulation, IMF, South East Asia
European and Asian telecoms - their role in global sustainable development Market forces are often unable to deal with environmental problems due to the inability of the economic system to internalise environmental costs. Telecommunications around the world are "service" companies that are considered to have little impact on the natural environment - and as such were excluded from participation in EMAS. However, new research into European and Asian telecommunications has revealed extensive environmental impact through consumption of considerable quantities of the global resources. Some telecoms use 1 per cent of their nation's electricity, consume 1 per cent of national paper or 1 per cent of national GDP. But the rate of change in this sector is greater than any other business sector, and telecoms are now reducing their environmental impact as a result of technical developments, the global market forces of liberalisation, privatisation and competition. The global impact of telecommunications developments on travel and lifestyles is also poised to have a significant positive effect on the environment, through changes in working practices as well as impacting on both indoor and outdoor leisure activities.
Keywords: Environmental management strategy, Sustainable development, Telecommunications
European retail expansion in South East Asia Considers the interest shown by European retailers in the markets of South East Asia and places this interest within the wider context of East Asian markets. European retailers' interest in the region has been a feature of recent developments in international retailing. Charts the growing interest in the region and the relative attractions of different markets and critically evaluates the assumptions that are made about East Asian markets and suggests that a far more rigorous set of criteria should be employed when evaluating markets in the region. Evaluates the implications of the recent financial and economic crises on European retail investment in the region.
Keywords: Asia, Europe, Internationalization, Retail trade
Industrial restructuring in ASEAN and the role of Japanese foreign direct investment Industrial development in ASEAN is closely related to structural changes and industrial adjustments taking place in the industrial countries and the other developing economies in the Asia-Pacific region. Some activities which have been edged out or phased out in the process of industrial restructuring in Japan and the NICs have migrated to the ASEAN member countries through foreign direct investment channels. Therefore, this paper aims to examine the "flying geese" paradigm and discusses the extent to which this pattern has generated a mutually reinforcing, harmonious process of industrialisation in ASEAN.
Keywords: ASEAN, Foreign investment, Restructuring
Taiwan: from sub-contractor to regional operations centre Taiwan has been one of the economic success stories of East Asia. It has moved from a position of backwardness to being at the forefront of technological development in a number of key sectors such as computing. It has progessed from being a sub-contractor to being a major regional operations centre. Once Taiwan was associated with goods that were cheap but had low quality. Now it has established a number of brand names that are regarded globally as being of the highest quality.
Keywords: Entrepreneurship, Export, Taiwan
Window of opportunity in Asia: economic turmoil offers a second chance to EU companies Investigates EU-Asian economic relations and identifies some of the factors that can explain their lag vis-à-vis Japan and the USA. Argues that the Asian economic turmoil offers the EU a second chance to catch up in their economic relations with the region. Argues further that recent EU initiatives and the European recovery will make it easier for Asian countries to expand their exports to Europe than to the USA and Japan.
Keywords: Asia, European Union, Relationships
Electronics foreign direct investment in Singapore: a study of local linkages in "Winchester City" The paper examines the role played by foreign direct investment in developing local linkages in Singapore's electronics industry. Backward material linkages have developed as a result of two processes: the development of indigenous local suppliers, mostly within the fabricated parts sector, and foreign investment by overseas suppliers, especially in the hard disk drive sector. The economic development potential of these suppliers varies, and local suppliers in contract manufacturing offer the best hope for future indigenous growth within the supply base. Public policies targeted towards supplier development and upgrading the quality of multinationals play a significant role in facilitating local linkage development in Singapore.
Keywords: Development, Foreign investment, Policy, Singapore, Suppliers, Supply
Regionalism in Southeast Asia: opportunities and threats for the European Union This paper analyses the current and potential impact of Southeast Asia's regionalism on the European Union. It begins by giving an overview of the different manifestations that this regionalism takes (ASEAN and AFTA, sub-regional economic zones, APEC) and comments on the overlapping linkages between them. The EU's stake in Southeast Asia is then discussed in the context of broadening the EU's interregional relations with East Asia. A detailed evaluation of the opportunities and threats that regionalist developments in Southeast Asia pose to the EU is presented thereafter. It is argued that the balance of effects will vary less for "insider" EU firms, which have established operations within ASEAN, and more for "outsider" EU firms. The potential benefits the former anticipate from Southeast Asian regionalism are considerable.
Keywords: ASEAN, EU, Free trade, Southeast Asia
Joint ventures in China - a Spanish case States that the Chinese market stands out both for its size and its record of growth. A growing literature identifies a wide range of challenges that must be confronted to launch a successful joint venture. Explores this literature and reports on how one medium-sized European company, Nutrexpa SA, has successfully set up and developed a joint venture in China.
Keywords: China, Joint ventures, Medium-sized business
Outgrowth of ASEAN, a Common Market of the Pacific: lessons to be learned from the European experience The success of the European Union is without comparison. With the inclusion of the European Free Trade Association, as well as much of Eastern Europe (a likely inevitable event by the turn of the century) it will have a population, GNP, economic and political force second to none among the world's great powers. The tripartite NAFTA between the USA, Canada and Mexico may be only the precursor to a North American Common Market. Countries in the Pacific are taking notice of these economic pairings and wondering what they might have to do to compete against either or both. The inevitable conclusion to these two Common Markets appears to be efforts towards the creation of a Pacific Rim Common Market (PRCM). Examines the factors behind the success of the European Common Market, compares them with the present situation in the Pacific Rim, provides a set of prerequisites necessary before a successfully operating PRCM can develop, offers several alternatives to what an eventual PRCM may look like, and discusses the current likelihood of a PRCM. Concludes that any PRCM must include the USA to offer balance and offset potential Japanese economic hegemony. The likelihood for a PRCM in the near future is dim, owing to immense differences between the potential member nations and the lack of experience in working together for mutual, regional interests instead of national interests.
Keywords: ASEAN, Economic integration, European Union, International trade, Markets, Pacific Rim As always we have only skimmed the surface of relevant articles this week and only those that are particularly relevant for Asia-Pacific managers. Many other articles are available as well including those focusing on other countries and international perspectives.
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