The terminology of renewable resource management spans not only prototype harvesting problems but also various new types such as invasive species problems. In all of these problems, process uncertainty of stock growth associated with environmental variability is one of the critical factors that...

The recent trend of product diversification in the Indonesian banking industry underscores the importance of non-interest income activities. This study examines the relationship between product diversification and bank risk over the period of 2002-2008. Our analysis shows clear evidence that the...

This paper estimates household vulnerability to poverty using the data of households in Cambodia. In particular, we classify the poor into two main groups, the chronic poor and the transient poor, based on two measures, poverty incidence and vulnerability. The results suggest that, at the...

This study examines how the adoption of inflation-targeting influenced exchange rate pass-through and volatility in four Asian countries -Indonesia, South Korea, the Philippines, and Thailand - over the sample period of January 1990 to June 2007. We find that adopting inflation targeting helped...

This paper studies government support which targets industries capable of learning. Monitoring procedures are implemented to prevent rent-seekers from non-learning industries. But this involves bureaucratic red tape that reduces flexibility in response to world market shocks. The main thrust of...

This study provides an explanation of terrorism by examining interactions between the terrorist group with a minority as a potential pool of recruits and the government supported by a majority. A hawkish deterrence policy makes it more risky for terrorists to launch attacks, but heightens the...

This paper analyzes an individual lending credit market in a rural society, where potential borrowers have a dynamic incentive of strategic default, and a benevolent lender gives them a credible threat to cut future credit when loands are not repaid. A crucial issue is that social sanction of...