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ID: 108389

Impact of the US economic crisis on East Asian economies: production networks and triangular trade through Chinese mainland / Kuroiwa, Ikuo; Kuwamori, Hiroshi

Kuroiwa, Ikuo	Journal Article
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2011.

Summary/Abstract

This paper investigates the impact of the 2008 economic crisis on industries in East Asia. It attempts to identify the transmission mechanism and the magnitude of the impact of the crisis on industries in East Asia using the updated Asian international input-output table for 2008. The analyses reveal that the crisis significantly affected industrial output of the nine East Asian economies included in the present study. The economies that are deeply involved in production networks were affected most seriously. Our analyses also show that the impact was transmitted to East Asian industries through triangular trade, in which Chinese mainland imports parts and components from neighboring East Asian economies and then exports final products to the US and EU markets. Although such intricate production networks have improved the competitiveness of East Asian economies, they have also increased vulnerability to external shocks.

Key Words

Asian International Input - Output Table ; Production Network ; Triangular Trade ; Asian International Input – Output Table

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ID: 152289

Participation of Vietnamese SMEs in regional economic integration: survey results of three manufacturing industries / Chuc, Nguyen Dinh ; Thai, Nguyen Thi Kim

Nguyen Dinh Chuc, Nguyen Thi Kim Thai	Journal Article
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Summary/Abstract

Small and medium enterprises are prevalent in Vietnam. They are also the predominant type of enterprise in the three manufacturing industries surveyed: food; apparel; and wood products. These have been the emerging export sectors in the last decade. The survey shows that SMEs in these sectors are highly aware of ASEAN’s plan for SME development and perceive that the ASEAN Economic Community is beneficial to business. However, the share of SMEs that have business relations with firms in other ASEAN economies is small. There is also limited awareness of Vietnam’s Free Trade Agreements. The regression analysis reveals that foreign ownership and productivity are the two most important determinants of Vietnam SMEs’ participation in production networks. Product innovation, process innovation and membership in business associations also significantly increase the probability that SMEs participate in production networks. The analysis suggests that policies to develop SMEs, increase labour productivity, and intensify international integration will facilitate SMEs’ participation in regional production networks. Government can also craft policies to promote innovation, encourage membership in industry and business associations, and raise awareness of ASEAN’s SME development plans, the AEC and other business related issues.

Key Words

Vietnam ; Regional Economic Integration ; SMEs ; ASEAN Economic Community ; Production Network

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