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Economies
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The Asian Economy: Constraints and Opportunities (2nd Edition)
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The Asian Economy: Constraints and Opportunities (2nd Edition)

A special issue of Economies (ISSN 2227-7099). This special issue belongs to the section "Economic Development".

Deadline for manuscript submissions: 30 November 2026 | Viewed by 2115

Special Issue Editor

Prof. Dr. Hiroyuki Taguchi

E-Mail Website
Guest Editor
Strategic Research Centre, Saitama University, Saitama, Japan
Interests: economic policy; Asian economy
Special Issues, Collections and Topics in MDPI journals

Special Issue Information

Dear Colleagues,

Following the success of the Special Issue “The Asian Economy: Constraints and Opportunities”, we are pleased to announce its second edition.

Asian economies have long been considered to be a central driver of global growth, largely fueled by rapid industrialization and active participation in global value chains. In recent decades, however, structural changes have emerged, partly due to external shocks such as the global financial crisis (2008–2009), US–China trade conflicts, the COVID-19 pandemic, and current energy price hikes. These changes include slowbalization in place of globalization, as well as premature deindustrialization or servicification replacing traditional industrialization.

This Special Issue seeks to explore the challenges and opportunities arising from these structural transformations in Asian economies. We invite researchers and academics to submit theoretical and empirical contributions that address these themes. Submissions may include original research articles and review articles.

Prof. Dr. Hiroyuki Taguchi
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 250 words) can be sent to the Editorial Office for assessment.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a double-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Economies is an international peer-reviewed open access monthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 1800 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • Asian economy
  • globalization
  • industrialization
  • global value chains
  • global financial crisis
  • trade conflicts
  • COVID-19
  • structural changes

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Published Papers (2 papers)

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Research

31 pages, 1345 KB  
Article
When Prosperity Reduces Remittances: Regime-Differentiated Growth Associations in Cambodia, Laos, Myanmar, and Vietnam
by Ngu Wah Win, Supanika Leurcharusmee and Worrawat Saijai
Economies 2026, 14(5), 187; https://doi.org/10.3390/economies14050187 - 19 May 2026
Viewed by 218
Abstract
This paper examines how remittances-to-GDP are conditionally associated with GDP growth upswings and downturns in four lower-middle-income countries (LMICs) in mainland Southeast Asia—Cambodia, Laos, Myanmar, and Vietnam (CLMV)—over 2000–2021, conditional on other external inflows including foreign direct investment (FDI), official development assistance (ODA), [...] Read more.
This paper examines how remittances-to-GDP are conditionally associated with GDP growth upswings and downturns in four lower-middle-income countries (LMICs) in mainland Southeast Asia—Cambodia, Laos, Myanmar, and Vietnam (CLMV)—over 2000–2021, conditional on other external inflows including foreign direct investment (FDI), official development assistance (ODA), and trade openness. Employing a nonlinear Autoregressive Distributed Lag (N-ARDL) model with a Dynamic Fixed Effects (DFE) estimator, this study estimates short- and long-run regime-differentiated associations between GDP growth regimes and remittances to GDP, controlling for foreign direct investment (FDI), official development assistance (ODA), and trade openness. GDP growth is decomposed into above- and below-median regimes, allowing the model to examine whether remittance dynamics differ across growth upswings and downturns. Panel estimates are complemented with dynamic multipliers that trace conditional adjustment paths over different horizons. The results reveal a high-growth-driven regime pattern rather than formal statistical evidence of unequal high- and low-growth coefficients. In the long run, above-median growth significantly reduces remittances to GDP (θ^1=−0.130, very strong evidence), consistent with the household insurance motive; below-median growth has no significant long-run association (θ^2=−0.127, no evidence). In the short run, above-median growth is positively associated with remittances (β˜^1+=0.033, very strong evidence), while below-median growth again shows no significant short-run response (β˜^1−=0.051, no evidence). Formal Wald tests do not reject equality between the high- and low-growth coefficients in either horizon; therefore, the findings should be interpreted as a regime-differentiated significance pattern within a nonlinear specification, not as formal proof of coefficient asymmetry. Taken together, these responses are consistent with a one-sided counter-cyclical interpretation of remittances: remittances to GDP decline when domestic growth is above the median, while no significant adjustment is observed during below-median growth episodes. The pattern documented here is therefore driven by the high-growth regime and should not be read as evidence of an active counter-cyclical surge during downturns. Trade openness and ODA exhibit significant positive short-run co-movement with remittances, whereas FDI shows a strong positive long-run association with remittances to GDP. The novelty of this study lies in providing new panel evidence on regime-differentiated remittance–growth associations for CLMV within a nonlinear N-ARDL and dynamic multiplier framework, while transparently reporting that formal Wald tests do not reject equality between high- and low-growth coefficients. Policy implications center on facilitating reliable remittance channels—reducing transfer costs and expanding financial inclusion—without assuming that remittance inflows automatically rise during downturns. Full article
(This article belongs to the Special Issue The Asian Economy: Constraints and Opportunities (2nd Edition))
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27 pages, 365 KB  
Article
Exploring ICT as an Engine for Sustainable Economic Growth in Central Asia
by Sobirov Yuldoshboy, Artikov Beruniy, Saburov Javokhir, Elbek Khodjaniyazov, Mamurbek Karimov, Olimjon Saidmamatov and Peter Marty
Economies 2025, 13(12), 365; https://doi.org/10.3390/economies13120365 - 11 Dec 2025
Cited by 3 | Viewed by 1526
Abstract
This study investigates whether information and communication technology (ICT) constitutes a sustained driver of economic growth in four Central Asian economies—Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan—over the period 2000–2022. Using an extended endogenous growth framework, this study employs the following long-run growth model: economic [...] Read more.
This study investigates whether information and communication technology (ICT) constitutes a sustained driver of economic growth in four Central Asian economies—Kazakhstan, Kyrgyzstan, Tajikistan, and Uzbekistan—over the period 2000–2022. Using an extended endogenous growth framework, this study employs the following long-run growth model: economic growth is specified as a function of ICT development, gross capital formation, trade openness, human capital, government effectiveness, and inflation. A composite ICT index is constructed using Principal Component Analysis (PCA). Long-run relationships are examined using a panel cointegration approach, and long-run elasticities are estimated using FMOLS, DOLS, and CCR techniques. The results reveal that ICT development exerts a negative and statistically significant effect on economic growth in the long run, indicating limited technological absorptive capacity and insufficient institutional readiness in the region. In contrast, capital formation, trade openness, human capital, and government effectiveness positively and significantly promote growth, while inflation hampers economic performance. The findings suggest that ICT investment alone is insufficient for sustainable growth without complementary institutional strengthening, human capital development, digital skills enhancement, improved broadband quality, and governance reforms to increase the productive use of ICT. Full article
(This article belongs to the Special Issue The Asian Economy: Constraints and Opportunities (2nd Edition))
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