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This paper examines patterns of knowledge diffusion from US and Japan to Korea and Taiwan using patent citations as an indicator of knowledge flow. We estimate a knowledge diffusion model using a data set of all patents granted in the U.S. to inventors residing in these four countries....
Persistent link: https://www.econbiz.de/10012470190
This paper presents market-based evidence that President Trump influences expectations about monetary policy. We use tick-by-tick fed funds futures data and a collection of Trump tweets criticizing the conduct of monetary policy and consistently advocating that the Fed lower interest rates....
Persistent link: https://www.econbiz.de/10012480253
closely with a depreciating yen, suggesting the countries' emphasis on export promotion. The Singapore dollar, on the other … contributed more to monetary cooperation in Asia than emphasis on export promotion …
Persistent link: https://www.econbiz.de/10012473118
of Hong Kong, Singapore, South Korea and Taiwan. Participation rates, educational levels and (with the exception of Hong … exports in the newly industrializing economies of East Asia is virtually unprecedented, the growth of total factor …
Persistent link: https://www.econbiz.de/10012474252
We examine the factors that determine the differences in ex ante returns on equities in eleven Pacific Basin countries. Our concern is whether real return differentials are primarily caused by nominal return differentials or expected changes in real exchange rates. We find that nominal return...
Persistent link: https://www.econbiz.de/10012474281
This paper characterizes the capital flows in Asia before and after the Asian currency crisis of 1997. Differences in …
Persistent link: https://www.econbiz.de/10012471660
To American and European economists in 1945, the countries of Asia were unpromising candidates for high economic growth … Asia experienced vigorous economic growth, some with growth rates far exceeding the previous growth rates of the … economic growth would falter, proved to be incorrect. Growth rates will probably continue at high levels in Southeast Asia for …
Persistent link: https://www.econbiz.de/10012467938
Malaysia recovered from the Asian financial crisis swiftly after the imposition of capital controls in September 1998. The fact that Korea and Thailand recovered in parallel has been interpreted as suggesting that capital controls did not play a significant role in facilitating Malaysia's...
Persistent link: https://www.econbiz.de/10012470587
This paper aims to show that culture is an important determinant of the effectiveness of formal democratic institutions, such as elections. We collect new data to document the presence of voluntary and social organizations and the history of electoral reforms in Chinese villages. We use the...
Persistent link: https://www.econbiz.de/10012457609
This paper investigates how Confucianism affects individual decision making in Taiwan and in China. We found that … loving, less loss averse, and more impatient after being primed with Confucianism, whereas Taiwanese subjects became … significantly less present-based and were inclined to be more trustworthy after being primed by Confucianism. Combining the evidence …
Persistent link: https://www.econbiz.de/10012459046