https://so01.tci-thaijo.org/index.php/AEJ/issue/feed Applied Economics Journal 2020-05-29T11:19:31+07:00 Waleerat Suphannachart aej.journal@gmail.com Open Journal Systems <p>Applied Economics Journal (ISSN: 2586-9124) is a double blind peer-reviewed journal devoted to the applications of economic theories, concepts and methodologies to analyze well-defined research issues. It encourages empirical analysis, simulation, prediction and forecasting research. While it is aimed at academics and policy makers interested in the Thai and Asian economies, the journal also considers articles that deal with global issues. The primary criteria for selecting papers are originality, quality, and contribution to the field. The categories of articles include commentary, review articles, research articles and book reviews. &nbsp;AEJ is indexed in the Thai-Journal Citation Index Centre (TCI), IDEAS/RePEc, CAB Abstracts, Google Scholar, ASEAN Citation Index (ACI) and Emerging Sources Citation Index (ESCI). Two issues are published a year, in June and December. All articles are open access. No submission fee and page charge.</p> https://so01.tci-thaijo.org/index.php/AEJ/article/view/240959 Editorial Introduction 2020-05-08T13:05:19+07:00 Waleerat Suphannachart waleerat.sup@gmail.com <p>On behalf of the new editorial team, I am pleased to present Vol. 27 No. 1 of the <em>Applied Economics Journal</em> (AEJ). This issue consists of six research papers and a book review covering economic issues in relation to agricultural cooperatives, monetary union, business cycle fluctuation, determinants of economic development, banking-growth nexus, behavioral bias, and trade and industrial policies. All of them provide empirical evidence and implications that are relevant to academic research and policymakers in both Southeast Asia and other developing countries.</p> <p>&nbsp;</p> 2020-04-09T16:38:23+07:00 Copyright (c) 2020 Applied Economics Journal https://so01.tci-thaijo.org/index.php/AEJ/article/view/240961 Contents 2020-05-08T13:05:19+07:00 Waleerat Suphannachart waleerat.sup@gmail.com 2020-04-09T16:48:26+07:00 Copyright (c) 2020 Applied Economics Journal https://so01.tci-thaijo.org/index.php/AEJ/article/view/223987 A Multinomial Logit Model Analysis of Farmers’ Participation in Agricultural Cooperatives: Evidence from Vietnam 2020-05-22T15:33:52+07:00 Luu Tien Dung dunglt@lhu.edu.vn <p>This study aims to test the determinants of farmers' participating behavior in agricultural cooperatives. A model of multinomial logistic regression is employed using survey data of 640 farmers in the Mekong Delta of Vietnam. The estimation results reveal that farmers are more likely to participate in agricultural cooperatives when they possess more favorable resources, including their level of higher education, farmland size, access to credit, social capital, access to extension, and market constraints. Farmers also regard cooperatives as institutions that can help them reduce production and marketing risks and ultimately enhance their chance of expanding their business operations.</p> 2020-04-09T16:03:35+07:00 Copyright (c) 2020 Applied Economics Journal https://so01.tci-thaijo.org/index.php/AEJ/article/view/222909 Economic Feasibility of Malaysia and Singapore-Brunei Monetary Reunion: A Scrutiny during Major Financial Crises 2020-05-22T15:33:27+07:00 Chee-Heong Quah quahch@um.edu.my Yew-Joe Ho yewjoe.ho@xmu.edu.my <p>This paper attempts to assess the feasibility of Malaysia to rejoin the monetary union with Singapore and Brunei which it left in 1973. The study scrutinizes particularly the period of two impactful financial crises in the last decades, namely the Asian Financial Crisis in 1997 and the US subprime-caused Global Financial Crisis in 2007-2009. Assessment is made in terms of the real convergence criteria suggested by optimum currency areas (OCA) theory and the nominal convergence criteria specified by the Maastricht Treaty. In light of the endogeneity view of convergence criteria, the relevant features of Malaysia are evaluated against those of Singapore and Brunei to infer the degree of preparedness of Malaysia to access the prevailing Singapore-Brunei monetary union. Results suggest that Malaysia could be as good a candidate as Brunei as a monetary union member with Singapore.</p> 2020-04-09T16:04:11+07:00 Copyright (c) 2020 Applied Economics Journal https://so01.tci-thaijo.org/index.php/AEJ/article/view/218586 Business Cycles in Some Selected Oil Producing Countries: Iran versus Three OECD Members 2020-05-22T18:28:48+07:00 Abouzar Taheri abouzar3434@gmail.com Shahriyar Nessabian sh_nessabian@iauctb.ac.ir Reza Moghaddasi r.moghaddasi@srbiau.ac.ir Farzin Arbabi arbabi_farzin@yahoo.com Marjan Damankeshideh m.damankeshideh@yahoo.com <p>This paper analyses the fluctuations of the business cycle in selected oil-producing countries of the Organization for Economic Co-operation and Development (OECD) and Iran during the period 1970:Q1–2015:Q4. We start by using a two-stage Hodrick–Prescott filtering process to extract a cyclical component of GDP, then the modified BBQ algorithm is used to identify the chronologies and some measures of business cycle characteristics, and finally the main features of business cycle fluctuations (persistence, volatility, asymmetry, and synchronization) are estimated. The results indicate the difference in the characteristics of business cycle fluctuations in countries with different levels of economic development. Both amplitude and severity of Iran as a developing country were high, and average duration of contraction was longer than expansion. As a result, asymmetries in both steepness and deepness are observed in Iran. Meanwhile, output persistence and volatility in Iran were above and below that of three OECD members’ average, respectively. The last part is based on the three indices for evaluating synchronization. Other findings reveal a high degree of synchronization between countries except Iran.</p> 2020-04-09T16:04:48+07:00 Copyright (c) 2020 Applied Economics Journal https://so01.tci-thaijo.org/index.php/AEJ/article/view/227001 Alternative Variables for Geography and Institutional Structure: European Colonies and an Evaluation of sub-Saharan African Countries 2020-05-29T11:19:31+07:00 Salih Barisik sbarisik70@yahoo.com Kubilay Ergen kubilay.ergen0@gmail.com <p>To explain the main reasons for the differences in economic development among countries, in the main model of this study, we use the malaria index as an instrumental variable to describe the sub-Saharan African countries. In addition, we use the indigenous population density in 1500 and the settler mortality rate as substitutes for each other in different model identifications to demonstrate the settlement conditions in the former European colonial countries, and we use the identity of colonizers to explain today's institutional performance. According to the main model, where we use the two-stage least squares method, the geography of sub-Saharan Africa and institutional structure determine the differences in economic development significantly. In both cases, the coefficients of these variables remain statistically significant, despite minor changes. In addition, estimates of coefficients are the most unbiased estimators among studies using a similar sample. The results of the main model also remained unchanged despite the alternative measures of institutional structure and geography.</p> 2020-04-09T00:00:00+07:00 Copyright (c) 2020 Applied Economics Journal https://so01.tci-thaijo.org/index.php/AEJ/article/view/241582 Causal and Dynamic Link Between the Banking Sector and Economic Growth in Pakistan 2020-05-23T14:28:26+07:00 Muhammad Yasir Saeed mr.yasirsaeed@gmail.com Muhammad Ramzan dr.ramzan1955@gmail.com Kashif Hamid kashif.boparai@hotmail.com <p>This study is aimed at estimating the causal and dynamic relationship between the banking industry and economic growth of Pakistan. A panel data set of 24 banks was used for the period 2006–2016. Panel unit root, Panel cointegration, and Panel VECM tests were applied to analyze the data. The results reveal that lending capability, bank investments, and innovation have positive and statistically significant impacts on economic growth in short-run as well as in long-run dynamics. The presence of a long-run relationship indicates workable and bilateral policy measures in the banking industry, and short-run dynamics approach consistency in the recurring policies of banks. The results of the study are consistent with economic development theory, which indicates the vital role of the financial sector in the development of emerging economies. The empirical findings suggest that state authorities and banking regulation authorities should remain vigilant at this crucial point in time because excessive banking development in terms of expansion, liberalization, and products may lead to an increase in non-performing loans and a reduction in investment activities, which can slow the process of growth. Evidently, the results suggest that regulatory authorities should focus less on enhancing the size of the banking sector and more on improving capacity building of its functionalities as intermediaries for the achievement of sustainable economic growth.</p> 2020-05-05T21:20:16+07:00 Copyright (c) 2020 Applied Economics Journal https://so01.tci-thaijo.org/index.php/AEJ/article/view/227466 Behavioral Bias in Choosing Between Post-Paid and Pre-Paid Mobile Internet Plans in Thailand 2020-05-23T15:12:46+07:00 Thunwar Phansatarn p.thunwar@gmail.com <p>A mobile Internet users’ survey for Over-the-Top (OTT) service in Thailand shows that most users choose a post-paid plan compared to a pre-paid plan, which contrasts with total mobile user preferences in the industry. The average revenue per user for post-paid users is also higher than for pre-paid users, but this is consistent with the industry overall. This information may reveal behavioral bias among Thai mobile Internet users. This research was undertaken to study the behavioral bias in choosing mobile Internet plans. The survey was conducted by the Office of National Broadcasting and Telecommunications Commission (NBTC) in 17 provinces, covering all regions in Thailand. Logit regression analysis shows that users have increased probability of choosing a post-paid plan. User behavior reveals a bias toward post-paid plans, which offer a flat rate. Two policy implications from this study are that inexpensive flat-rate plans can be used to promote growth in mobile Internet service, and that support for new entrants can be offered by providing plans that rely on user behavior.</p> 2020-05-05T00:00:00+07:00 Copyright (c) 2020 Applied Economics Journal https://so01.tci-thaijo.org/index.php/AEJ/article/view/240956 The Indonesian Economy: Trade and Industrial Policies 2020-05-08T13:05:24+07:00 Hermanto Siregar hermansiregar@yahoo.com <p>There are only few internationally published books with the topic of Indonesian trade and industrial policies. Written by prominent scholars and professionals, this book contributes to the literature on such topic. Critical problems pertaining to trade and industry and the related policies are discussed thoroughly, supported by comprehensive data and proper analyses.</p> 2020-04-09T00:00:00+07:00 Copyright (c) 2020 Applied Economics Journal