Chart of the Week | June 17, 2022

Consumption Reallocation during COVID-19

The pandemic has changed consumers’ habit. The overall retail sales in Singapore have recovered to the pre-pandemic level, but some sectors are still lagging.

Featured Research

Exploring a Possible Factor for Brain Drain in the Contexts of Singapore and Hong Kong- the Role of Attachment to home domicile/country?

This exploratory study examines the importance of attachment to home country (or attachment to home domicile in the case of Hong Kong which is not a sovereign nation), as a determinant of people’s inclination to stay or leave their home country. There have been other competing constructs, such as place attachment, which is the bonding […]

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Which of the Greater Bay Area cities has benefited more from the GBA development plan?  We have the answer! 

After introducing the GBA (Greater Bay Area) Framework Agreement, Foshan witnessed a surge in greenfield foreign direct investment (FDI) in 2018. From 2018 to 2020, the average annual number of greenfield FDI contracts, and contracted foreign capital, went up to 751 and USD 8,675 million, respectively. This was as opposed to previous figures of 200 […]

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In terms of the value, quantity, and quality of exports, which countries are more affected by the rise of China?

The paper “Quality Upgrading and Import Competition: Impact of Chinese Competition on Developing Asia” shows the differential impact of Chinese competition on Asian countries, where it concerns their exports to the US. Given similarities in comparative advantage and geography with China, it seems that most Asian countries should be negatively affected, however, based on the […]

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What’s the optimal trade policy when there’s international knowledge diffusion? The answers may surprise you.

The paper “Trade Policy in a Ricardian World with International Knowledge Diffusion” shows that, although the “non-discrimination” principle is optimal from a static perspective, when dynamic knowledge diffusion is taken into account, countries will set trade policy discriminatively so as to reorient trade towards more technologically advanced trading partners for faster economic growth. The author […]

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Is there “pandemic arbitrage”? In other words, are destinations, that are coping well with the pandemic, more favorable to FDI?

Internationalization is a major strategic component of most business firms’ activities (Meilin, 1992), and key models of internationalization tend to describe it as taking place gradually and in distinct stages (Boisot and Meyer, 2008; Johanson & Vahlne, 1990; Meilin, 1992; Vernon, 1966). During their internationalization process, firms shift progressively from low involvement (e.g., exporting) to […]

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ASEAN’s Digital Economy Aspirations: An assessment of the policy documents of the ADM2025, ADIFAP, and the BSBR

The digital economy has grown in importance around the world. It refers to the broad range of economic activities that use digitized information and knowledge as key factors of production (Asian Development Bank, 2018). Enablers include the internet, cloud computing, big data, fintech, and other new digital technologies. Asia’s digital transformation is already having a […]

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Batam, Bintan and Beyond: Riau Islands as Indonesia’s hotspot for Manufacturing and Digital Investments

With proximity to Indonesia’s major trading partners, Riau Islands is one of the country’s premier manufacturing hubs, with the industry contributing over 40% to its economy in 2020. The province is home to large industrial estates such as the Nongsa Digital Park and Bintan-Batam-Karimun Free Trade Zone. In post-pandemic Indonesia, the province is a hotspot […]

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Could MAS’s Policy hit the dual targets of welfare maximization and sustainability? Definitely!

Climate-related risks have received growing attention from policy makers in recent years (Dikau and Volz, 2021; Muller, 2021), and central banks and other stakeholders within the financial sector are believed to be better able to promote a sustainability agenda through the use of various initiatives. This article reviews the latest initiatives by Singapore’s financial sector […]

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Indonesia’s Third COVID-19 Wave: Resiliency and Recovery

Indonesia’s third wave of the COVID-19 pandemic has taken the country by storm since early June 2021, proving to be one of the worst outbreaks that the world has seen. As the delta variant spreads across the densely populated areas of the country, the healthcare system faces immense pressure and is running low on oxygen […]

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Bali’s Roadmap to Recovery: Post-Pandemic Economic Strategies

As Bali reopens its borders after an 18-month hiatus, how will Bali regain its economic momentum? What are the drivers of future growth and economic resilience? ACI’s recent webinar titled “Bali’s Roadmap to Recovery: Post-Pandemic Economic Strategies”, hosted on Thursday, 21 Oct 2021 in collaboration with Universitas Pendidikan Ganesha, tackled this issue in depth. Speakers […]

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Gender Divide Meets Digital Divide in ASEAN’s Financial Ecosystem

The COVID-19 pandemic has accelerated the rate of digitalization across many everyday activities, one of which is payment modes. As e-commerce levels rose and the need for contactless payment methods became more urgent, the increased adoption of digital payments has been welcomed. With rapid changes in technology in recent years, the traditional methods of financial […]

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Palapa Ring Project: Indonesia’s Digitalization

Indonesia’s overarching goal to expand its basic digital infrastructure first emerged in the 1990s, through the idea of the Palapa Ring project. The project aimed to provide internet access to the entirety of the 34 provinces in the archipelagic nation and was completed recently in 2019. In 2014, the percentage of households in Indonesia with […]

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Challenges and Opportunities in ASEAN’s Digital Economy

Challenges and Opportunities in ASEAN’s Digital Economy

“Digital” The new byword and frontier in economic growth but despite all the buzz and attention, what does it actually mean for the economies of ASEAN? ACI’s recent webinar titled “Challenges and Opportunities in ASEAN’s Digital Economy” hosted on Friday, 24 Sep 2021 tackled this issue in depth. Speakers from ACI and Mr Konesh Kochhal, […]

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Uneven Post-Pandemic Recovery Amongst China’s Mainland Economies

Despite the global economic decline that was experienced in 2020 due to the COVID-19 pandemic, China saw positive overall economic growth. However, it is seen that there are uneven rates of recovery between sub-national economies, especially pertaining to the secondary and tertiary sectors. Like most countries, China too had resorted to pandemic control policy measures […]

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Book Launch: Annual Competitiveness Analysis and Impact of COVID-19 on Sub-National Economies of Indonesia

The study on the competitiveness of 34 sub-national Indonesian economies by ACI is committed to tracking the country’s diverse progress. This objective has been fundamental in light of the COVID-19 pandemic that has affected the archipelagic nation in different ways. Indonesia’s economy received an unprecedented shock because of the COVID-19 pandemic. Prior to the pandemic, […]

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