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Managing
Growth: The Role of Export, Inflation and Investment in Three
ASEAN Neighboring Countries
-- Audrey
Liwan and Evan Lau
This
study investigates the relationship between export, inflation,
investment and economic growth for the three ASEAN countries,
namely Indonesia, Malaysia and Thailand. In general, the results
reveal that export has a positive impact on growth. As for,
Malaysia and Thailand, inflation has a negative impact on
growth; while for Indonesia it has a positive impact. The
inflation rate for Indonesia has remained more or less consistent
over several years, which has led to the positive relationship
between inflation and growth. However, modest increase in
the rate of inflation has also been noticed in certain years.
The results show that investment has a positive impact on
growth for Indonesia, Malaysia and Thailand.
©
2007 IUP . All Rights Reserved.
Small
Fish Wars: A
New Class of Dynamic Fishery-Management Games
--
Reinoud
Joosten
Two
agents possess the fishing rights to a lake. Each period they
have two options, to catch without restraint, e.g., to use
a fine-mazed net, or to catch with some restraint, e.g., to
use a wide-mazed net. The use of a fine-mazed net always yields
a higher immediate catch than the alternative. The present
catches depend on the behavior of the agents in the past.
The more often the agents have used the fine-mazed net in
the past, the lower the present catches are independent from
the type of nets being used. Fishing without restraint may
damage the fish stock and may even lead to exhaustion of the
resource. This paper studies a family of models dealing with
a wide range of effects of overfishing on the fish stock.
A `tragedy of the commons' can be averted, as equilibria sustain
rewards well above the `tragedy rewards'. Moreover, sustainable
Pareto-efficient outcomes can be supported by subgame perfect
equilibria.
©
2007 IUP . All Rights Reserved.
Organization,
Evolution, Cognition and Dynamic Capabilities
--
Bart Nooteboom
Using
insights from `embodied cognition' and a resulting `cognitive
theory of the firm', The paper aims to contribute to the further
development of evolutionary theory of organizations, in the
specification of organizations as `interactors' that carry
organizational competencies as `replicators', within industries
as `populations'. The paper, in particular, analyzes how,
if at all, `dynamic capabilities' can be fitted into evolutionary
theory, and proposes that the prime purpose of an organization
is to serve as a cognitive `focusing device'. Here, cognition
has a wide meaning, including perception, interpretation,
sense making, and value judgments. The paper examines how
cognition integrates organizations on the one hand, and creates
differences within and between industries on the other, and
proposes the following sources of variation: replication in
communication, novel combinations of existing knowledge, and
a path of discovery by which exploitation leads to exploration.
These sources yield a proposal for dynamic capabilities. The
paper also discusses in what sense, and to what extent these
sources of variation are `blind', as postulated in evolutionary
theory.
©
2007 IUP . All Rights Reserved.
Globalization
and Structural Changes in the Indian Industrial Sector: An
Analysis of Production Functions
--
S K Mishra
This
study investigates the structural changes in the manufacturing
sector of India brought about by liberalization and globalization
of the economy. Structural changes in terms of employment
of labor and capital, indicated by replacement of the former
by the latter, and changes in returns to scale have been examined
by estimating Constant Elasticity of Substitution (CES), Zellner-Revankar,
Transcendental, Diewert and Bruno's production functions.
State-wise data for 1990-91 and 2003-04 have been analyzed.
The findings have indicated that the rise in industrial output
during the reference period is accountable to substitution
of capital for labor in almost all states. The elasticity
of substitution has declined for most of the states. In the
pre-globalization period, the industries experienced increasing
returns to scale. Globalization has given way to diminishing
returns to scale. Along with a rise in industrial output,
globalization has led to a decline in regional disparities
in terms of population-deflated indices of employment of manpower
and capital, and the resultant output.
©
2007 IUP . All Rights Reserved.
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