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This study investigates the impacts of carbon pricing policies on firms' greenhouse gas (GHG) emissions. We include two carbon pricing policies: carbon tax and emission trading scheme (ETS) at national and sub-national (province) levels, measured as policy existence (binary variable) and carbon price (continuous variable). Firms' GHG emissions are measured as total emissions and emission intensity. Using unique recent firm-level data from 2010 to 2021 from three East Asia countries (Japan, the Republic of Korea (ROK), and the People's Republic of China (PRC)), we obtain the following key findings. First, the national carbon pricing policy significantly reduced firms' GHG emissions and GHG emission intensity in Japan and the ROK. The greater the carbon price, the greater the impact. Second, the subnational carbon pricing policies implemented in two provinces of Japan (Saitama and Tokyo) decreased firms' GHG emissions. Third, heavy industry sectors such as energy, utilities, and industrials experienced a substantial decrease in GHG emission intensity due to the carbon pricing policy. Finally, our main results are robust to different model specifications and various measures of firms' GHG emissions. Although literature studying the ex-post impact of carbon pricing on emissions at country and sector-level is abundant, this paper contributes to the existing literature providing empirical evidence of the impact of carbon pricing policies on firms' emissions using firm-level data, which is highly limited especially in Asia. [ABSTRACT FROM AUTHOR]

In this paper, we estimate the exchange rate exposure, indicating the effect of exchange rate movements on firm values, for a sample of 1,400 firms in seven East Asian countries. The exposure estimates based on various exchange rate variables, return horizons and a control variable are compared. A key result from our analysis is that the long term effect of exchange rate movements on firm values is greater than the short term effect. And we find very similar results from using other exchange rate variables such as the U.S. dollar exchange rate, etc. Second, we add exchange rate volatility as a control variable and find that the extent of exposure is not much changed. Third, we examine the changes in exposure to exchange rate volatility with an increase in return horizon. Consequently the ratio of firms with significant exposures increases with the return horizons. Interestingly, the increase of exposure with the return horizons is faster for exposure to volatility than for exposure to exchange rate itself. Taken as a whole, our findings suggest that the socalled "exposure puzzle" may be a matter of the methodology used to measure exposure. [ABSTRACT FROM AUTHOR]

With the increase of cross-Strait economic activity, the interaction between Taiwanese business people and the Chinese government has gradually changed. As Taiwanese investment grew in volume, so did the number and frequency of contacts between the parties; a more institutionalised form regulating these contacts was established as a result. Nowadays Taiwanese businessmen have become an identifiable factor in Chinese governmental policy implementation; the process also has far-reaching implications. This paper argues that Taiwanese capital has become a Chinese governmental security asset and examines the importance of this factor when discussing conventional government/business interaction. This paper concludes that a superior national interest guides the warm welcome given by the Chinese government to Taiwanese businessmen. [ABSTRACT FROM AUTHOR]

The growing private sector in the post-reform Vietnamese economy and its new forms of mobilisation have led to newly emergent social forces that have shaped internal state agendas and political deliberations. With a view to exploring the nature of institutional change in Vietnam, I argue that business associations have played a crucial intermediary role between the state and the private sector over past decades. These associations and the spaces of governance that they constitute are neither characteristic of autonomous actors as suggested by liberal theory nor a form of state corporatism. This paper adopts the “state-in-society” approach, which contends that the state and society should be considered through new governance spaces within the state. These spaces create institutional mechanisms for interaction between the government and business, and provide a framework for deliberative engagement between state and non-state actors. This framework will be tested through an examination of associations of small and medium enterprises in Ho Chi Minh City and their connections to the city authorities. I argue that business associations will be accommodated by the state and will coalesce with existing bureaucratic interests. This proposition contributes to the new research agenda that applies the state-in-society approach to post-socialist institutions. [ABSTRACT FROM PUBLISHER]

One of the most striking features of the economic development that has occurred in the East Asian region has been the influential role of the state in directing its course. Vietnam is also following this well-worn path of state-led developmentalism. The principal contribution of this paper is two-fold. First, we place the Vietnamese experience in comparative historical and conceptual perspective. It is suggested that the structure of the Vietnamese state itself and the distinctive nature of the policies it has undertaken are reflections of the country's traumatic recent history and the fact that its leadership is notionally “communist.” Our second contribution is to detail some of the more important aspects of this process. We provide two case studies which focus on the role of state-owned enterprises and decentralisation initiatives which demonstrate that, despite the frequently ad hoc and contingent nature of the developmental project and an absence of the sort of state capacity that distinguished the likes of Japan in its heyday, the Vietnamese government is overseeing economic development in creative and surprisingly effective ways. [ABSTRACT FROM PUBLISHER]

Throughout East Asia, the growth process and its sources are changing in a number of important respects, especially for middle and higher income economies. Growth will increasingly come from the strength of innovative activities in these economies instead of factor accumulation as in the past. Recent research suggests that such innovative activities, especially in producer services and the creative industries, are concentrated in high-tech clusters in globally linked cities. The development of such cities is influenced by ongoing structural changes and initiatives by governments and firms. This paper explores these issues and suggests how policies and institutions can induce and furnish an urban environment that supports innovative activities that in turn lead to rapid growth. [Copyright &y& Elsevier]