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Developing Asia has grown faster than other parts of the world for decades. However, population aging is expected to pose significant headwinds to the region’s future economic growth. We update and enhance the analysis of Park and Shin (2012) to project the impact of population aging on developing Asia’s growth between 2021 and 2050. Our projections indicate that a demographic transition will have a substantial negative effect on the region’s future growth, but the effect varies across economies. Older economies will suffer a demographic tax, whereas younger economies will continue to enjoy a positive but declining demographic dividend.

In this paper a method for calculating the socially optimal level of aggregate investment is developed. That method is then applied to Japan. It is found that in the 1990's the level of investment in Japan was excessive, in the sense that it exceeded the socially optimal level. The degree of over-investment in Japan in the 1990's has averaged about 5.5 per cent of GDP per year according to the calculations in this paper.

In the presence of home firm's ability to make a cost-reducing investment before or after the government set its subsidy level, this paper analyzes the impact of timing on the optimal policy of the government. We find that under complete information assumption, the firm will overinvest and consequently, the government will over-subsidize, resulting in lower welfare levels than would arise under non-intervention. We extend the model to the case in which the home firm has private information about its own costs, which it may want to signal to the government through its investment choice. We find that under this setup, the low-cost firm overinvests even more than under full information case, making the policy of non-intervention even more attractive.

Examining the impact of remittances on private investment, the study finds that remittances have an adverse impact on private investment and hence is apprehensive about its net positive impact on output growth in India. Therefore, the study suggests that the government policy should be designed toward inducing private sector to allocate more remittances for investments for leveling up the rate of economic growth. Otherwise, a significant proportion of remittances would result in increase in private consumption without desired contributory impact. The study also observes crowding out impact of public sector investment, while openness measure raises private sector investment.

In this study, both cross-country and panel techniques have been used to analyze the long-term impact of institutions on investment and economic growth in the context of neoclassical model. The empirical results indicate that both physical and human capital investment have positive impact on economic growth. Economic freedom has a direct impact on economic growth by enhancing factor productivity and indirect by increasing investment. Political and civil liberties also exert positive impact on investment. Further, an important relationship exists between institutional freedom and human capital investment in both cross-country and panel data analysis.

This paper examines the dynamics of saving–investment (S–I) relationship in a group of 10 newly industrialized countries (NICs) over the period from 1970 to 2010 using a panel error correction model. By applying the Pedroni and Westerlund cointegration tests, we find that the saving and investment are cointegrated. We apply the fully modified OLS and dynamic OLS to a set of panel error correction models to estimate the short-and long-run relationship between S–I rates and interest rate differentials. We find that the degree of capital mobility is higher when the NICs are more open to their capital control policies after 1980s.

In this paper, I find (1) that Japan showed massive and persistent current account surpluses from at least 1981 until at least 2011, (2) that Professor Ronald McKinnon was correct, at least in the case of Japan, and that these large and persistent current account surpluses were due primarily to Japan’s large and persistent IS imbalances (the excess of saving over investment), (3) that the specific causes of the IS imbalances have changed dramatically over time, and (4) that future trends in Japan’s IS imbalances (current account surpluses) are difficult to project but that they will probably not change dramatically in either direction in the foreseeable future.

Ronald McKinnon contributed crucially to our knowledge of the key role of savings, investment and financial intermedication in economic growth. Financial repression by governemt spending on consumption and repressed interest rates leads to low savings which finances investment, thus slowing growth. This is Ron’s message even today. He has castigated the U.S. monetary authorities for falling into a “policy trap” of repressing interest rates, presumably to foster investment and growth. In fact, Ron points out that zero rates deter savings and thus punish both investment and growth.

Analyzing financial development and investment in Turkey between 1960 and 2008, this paper illustrates how financial development affects investment decisions in a dynamic model of the firm under financial frictions. A composite index is constructed of three alternative financial development measures. The bounds testing approach was used to test for the existence of long-run levels relationships and long-run levels relationships were estimated using the autoregressive distributed lag method. Both short- and long-run causality tests were performed. Results indicate that financial development, budget balance, and total credit to the private sector positively and significantly affect investment.

The focus of this paper is to examine the effects and mechanism of government expenditures (GEs) in determining the long-term inflation differentials across countries. For this purpose, we formulate a theoretical model and the related regression system. The models allow us to understand and quantify the supply-side (SS) and demand-side (DS) effects of GEs in determining prosperity or stagnation across countries. This study provides cross-country evidences and related mechanisms supporting the hypothesis and conclusion that active short-term AD policies and over-estimated potential output, as argued in Orphanides (2003), were contributive to the Great Inflation.

In recent years, China has been catching-up with other advanced economies and become one of the “leading geese” in the Asian economy. China not only plays a leading role in regional production network but also in various regional economic cooperation. Indonesia, being one of the following geese, needs to adjust its position to benefit from this change in global and regional order. While other more advanced economies have less to offer, Indonesia has gradually moved closer toward China in terms of economic cooperation. Using the flying geese model, this paper argues that China’s BRI might change trade and investment trends in Indonesia. China BRI might complement the role of Japan as a catalyst for economic development in the Asian region in general and in Indonesia in particular. There is no official BRI project agreed by Indonesia so far. However, there are a number completed and ongoing China–Indonesia projects, which arguably might pave the way for future BRI investment. Currently, apart from the Jakarta–Bandung High speed railways, most of the projects are concentrated in resource-exploitation needed by China and the fulfilment of Indonesian development needs, such as power generation, mineral smelters and industrial parks. From the Beijing’s perspective, these projects are perceived as part of BRI. Since these so-called BRI projects have not been completed, it is therefore impossible to assess their impacts on Indonesia’s industrialization at this point. However, we can still argue that BRI might have initiated a new type of investment that might in turn change the industrial trends, structure and performance in Indonesia. If this change leads to improvement in products quality or value added, industrial upgrading, technological transfer and export boost, then one may argue that BRI has brought promised benefits to the host economy (i.e., Indonesia). Otherwise, the benefits would be negligible.

Using Japanese firm-level panel data spanning from 2000 to 2013, we estimate industry-level production functions that explicitly take into account the complementarity and substitutability between tangible and intangible capital. The estimation results show that tangible and intangible capitals are complementary in most industries although the degree of complementarity substantially varies across industries. We further find that the relation between tangible and intangible capital in the production function accounts for the relation between firm-level tangible capital and intangible capital investments. Namely, firms’ tangible investments are more strongly positively associated with intangible investments as the degree of the complementarity between the tangible and intangible assets becomes larger. These findings show the necessity to take into account the relation between the dynamics of tangible and intangible capital in terms of their complementarity for precisely understanding the mechanisms governing a firm’s growth.

We investigate asset management in a regime switching framework when the fund manager aims to beat a certain target for the assets under management over an infinite horizon or over a finite horizon. We consider both a full information and a partial information setting. In a full information setting, the asset manager tends to take more risk in the good state and less risk in the bad state with respect to the constant parameter environment. Confidence risk induces the agent to increase his risk exposure.

This is a short article that is about two venture capital corporation in Shanghai.

The article discusses about the potential of Australia and New Zealand biotechnology opportunities.

Why Invest in Life Sciences and Healthcare?

More to Structure than Meets the Eye.

Medical Technology Integration in Healthcare.

Investing in Healthcare in China.

Feeding Asia in the 21st Century: Building Urban-Rural Alliances at International Conference on Asian Food Security (ICAFS) 2011 in Singapore.

Biotron Hepatitis C Phase lla Trial Gives Positive Results.

WuXi PharmaTech Acquires China-Based Clinical Research Services Companies.

AztraZeneca Increases Investment in China with New $200 Million Manufacturing Facility.

Otsuka Commits $A25 Million to JV with LCT.

Norgine and Jubilant Announce Discovery Collaboration in Gastrointestinal Therapeutic Area.

SIRO Clinpharm and Peregrine Pharmaceuticals Highlight Successful Collaboration.

CMS Biologics Announces Agreement with Daiichi Sankyo Company to Develop and Manufacture Antibodies.

Chr. Hansen Partners with Amino Up to Develop Breakthrough Nutritional Formulations.

SK to Work with Chinese Company on Depression Meds.

Galderma & Singapore Immunology Network Work to Deepen Understanding of Acne.

German biotech innovator Altona Diagnostics launches BioNexus-certified regional hub in Malaysia: ADT Biotech Sdn Bhd.

FEI launches "Explore the Unseen" image contest in partnership with National Geographic.

BIO applauds Representative Kaptur's Energy Investment Act of 2012.

Cytori to utilize Sistemic's SistemQC™ to strengthen understanding of mechanisms & support design of Next-Generation Cell Therapies.

Bosch packaging technology and Sartorius Stedim Biotech introduce PreVAS.

CellCentric and ZoBio enter into partnership to develop lead compounds against epigenetic drug targets.